How to PLAN for Buying YOUR FIRST HOUSE 🏠 🤩

Foreign. Yes. All right, welcome to the how to Buy a Home podcast. I'm David Sidoni, the how to Buy a home guy, and I'm super excited to be here with you today. We're going to talk about the always exciting, always thrilling, super fun topic of planning. Yay. Aren't you all excited out there? I know it's time to talk about being respectful, responsible. Woohoo. All right, look, so all this adulting crap, it doesn't sound super fun, but we're going to talk about this in better terms. Something that might be a little more exciting for you. How would you like to have a big fat savings account there? How would you like to have 25, 50, $75,000? Now, I know what you're thinking, dude, don't even try to con me. You're going to tell me I have to stop doing all the fun stuff that I already like to do. No, this is different. How would you like to have 25, 50, $75,000 in a big fat savings account doing exactly what you were already planning on doing for the next one, two or three years? Here's what we're going to do. We're going to talk about planning today so that hopefully you can get that, you can have that money and you can have a big fat savings account. I've personally, as of March 2019, helped 76 first time home buyers reach the American dream. And every single one of them told me one thing. Thing. And that was that they all had wished that they had done it earlier. That every single one has told me that they wish that they had started the planning earlier because they could have purchased the home earlier. And they realized they had wasted so much money on their rent. They said, man, I could have done this a year, two, three years. If I called you a year before I called you, then that would have meant a year less of renting. Now think about that. Quick, real quick, multiply your rent by 12. Okay, now do it by 24. All right, now do it by 36. How much money is that? That's how much money that people throw away and give to their landlord every single month. And that's exactly why I started this podcast. Hell, that's exactly why I changed my entire business. You see, there are people out there wanting to buy a house. And if that's you, I'm telling you something. You've been totally overlooked. You've been underappreciated, you've been ignored. You have been uninformed. People are not giving you this information. Well, I'll tell you what, let's change that right now, right here, right now, by having the super motivational and super inspirational discussion about ta da planning. Your favorite subject. I know. Look, I, I can't make this sexy, but I can tell you you're going to have a sexy bank account. All right, here's how it usually goes for first time buyers who don't get the proper guidance on the planning and they don't start early enough. Sometime early in their adult life, they're ready to take on the world, Right? So what do you do? First, you move out of the house, you sleep on a few couches, maybe a couple floors, couple futons. So you go through a few crazy roommates, you get a decent job, and then you finally get a killer apartment after a couple years and usually way too many raises in your rent, they figure out that this cool killer apartment sucks and costs them too much money because their rent keeps going up. So what do they do next? Well, they Google a couple things. They start to try and save their money, they start to try to reduce their debt, figure out their credit a little bit, and then a few months later, after they think that they save some money and they fix their debt, then you start going online, start dreaming and start looking at houses. Or maybe then you pop by a few open houses. Okay, so let's, let's back up a few months now for this imaginary first time buyer that I'm talking about. Now if they'd had me in their earbuds where they were 20, 21, 22, heck, maybe it was 30, 31, 32. All right, and they'd made one phone call before they went from the house with six roommates into their own apartment that they started paying 15, 17, $1800 a month, 2000, 2500. If you hear in the lovely land of the sun, Orange County, California, that costs too much money. Well, if they made one phone call before they went to that apartment, they could have shaved years off the time that they ended up renting. So that's why we're talking about planning today. Now think about all those first time buyers I told you I worked with. Like I said, as of March20, 19, 76 of them, every single one of them said it. Could they, that they could have done it earlier. They would have been able to think about this. They would have been able to put that money into the house. Eventually when everyone moves into the house, they all stretch as far as they can. They spend all their money and a lot of times they don't have A couch to match their cool new house or condo or townhome. But if you started a plan early and you get in early, you're going to be in better shape. What's the deal with paying yourself as opposed to paying a landlord? I know it seems simple, it seems basic, it seems easy, but basically it works like this. If you're putting money into a house, you are getting yourself a forced savings account. The average appreciation on a house is about 3 to 5% a year. Every year since 1900, since the beginning of time. All right? That's how much the house goes up in value. So that's more than a savings account is here in 2019. But you also get the magic word with that. You get equity. That's the exciting part. So let's say you buy a year earlier than you thought you were going to buy. Let's say you're listening to this tune right now because your parents are making you, which if they are good for you, you got sweet parents. Okay? So let's say that you're listening to this and you decide to start planning. Well, then you decide that in two, three, four, five years you can buy a house, but you can buy it a year earlier than if you hadn't had this podcast in your ear holes right now. Well, take your rent, multiply it by 12, bam, you just saved that money. Now multiply it by two years, by three years. How'd you like to have 20, 30, 50, $75,000 in a savings account? Well, buying a home before you think that you can, because you can is a forced savings account. And you will have that money. Look, you're already going to pay rent anyway. And if you're thinking that you're going to buy a home someday, why not get all the information right now? Why not start to learn about that beautiful little word, equity? Your home is your for savings account. And it also helps you to stop throwing your money away. And as I told you guys, it's the number one regret of all first time homebuyers. You want to talk about fomo? You want to talk about fear of missing out? That's serious fomo. I fear tossing my money in a trash can. That's what I fear. And you know what's FOMO all about? FOMO's all about. Gosh, I wish I could do that. What's the one thing that's holding you back from doing something? Money. If you all had money, you'd be fomoing the heck out of whatever the hell you want to do today. You'd be gone. You'd be out on an island having fun, doing whatever you want. The only thing that's stopping you is money or work. And why do you work for money. So go ahead and start capitalizing on yourself. You're already going to do this. You're already going to make a payment every first of the month. Let me check real quick. Right now, wherever you are, you're on a treadmill, you're on in your car driving, Raise your hand if you are going to skip your rent next month. Nobody. Okay, cool. See, you're all going to do this. So let's plan. All right. You got questions you want to know? Put some questions down in the reviews of the podcast right here. Or comment. Or you can reach out to me, my Instagram at davidsidoni. Ask me. I'll tell you wherever you are in the country, doesn't matter. My mission, my goal is to help everybody get over the fear. And the first fear is figuring out whatever your fear is. I don't know. So if you've got a question, go ahead and ask me. It's up to you to start this planning, even if it's only baby steps. Because here's what's happened. Unfortunately, most Realtors think that you suck. It's true. They pass you off to inexperienced realtors, rookie agents, and they ignore. And the experienced agents actually just ignore you altogether. They won't work with you. So you have to do this on your own. So reach out. Ask me a question. I'll answer. I can't sell you a home if you're somewhere else in the country. So I'm doing this because I really, really think that no one's talking to you, and that sucks. You're been ignored until now. Now you got me. I can help you out. I can guide you. But it's up to you to take action. If you do, you're going to save yourself tens of thousands of dollars. Now, you might be asking, if this crap is true, why are you the only dude out there talking to me about it? Well, because you're the ignored gap. Because realtors think you suck. But you know what I think a lot of those realtors who think you suck, I think they suck. What they're doing is they don't want to work with you because the industry decided that you're not worth it. No one's telling you this information because they've decided that eventually you're going to come to them. You're going to figure this all out on your own, and Then you're going to come to them. Then you're going to come to their open house. So they just work with sellers. They don't want to work with you. The industry still doesn't believe that you're going to seek this out on your own. They seriously don't think that you're going to go and figure out the planning part on your own. They think you're just going to eventually come around when you're ready. Because they're old. I've said it before, I'll say it again. They're archaic. They're dinosaurs. As a matter of fact, this dude over here, if you're watching this on camera, if you're on the visual side of this, I'm not in your earbuds. This dude's the dude. He's 24. He's my main man, and he told me, no, no, no. Look, millennials look things up. That's what we do. We don't just take an ad or an article on Facebook, face value. We Google it and we check out the author, we check out the publication, we check out the other stuff that they did. We go look at their Facebook page, we check out everything about them. Well, the industry doesn't believe that you're going to do that. They think that you're just going to put money into a savings account like freaking Mary Poppins. You're just going to stick your money in the bank. That's what you're going to do. And then someday, when you save enough, you're going to buy a house. They seriously think that that advertisement they got on the bus bench, that you're going to save your money and eventually you're just going to call them because you've seen their face? That's not the way it works. You're going to get out there and you're going to start looking, and, well, this is one of the only places you can find the information right now. Hopefully, if you're listening to this in the future. Well, if you are, first of all, tell me, are there flying cars yet? Because, dude, I've been waiting since I was a little kid. That was on the Jetsons when I was little and I'm old. Well, if you will listen to this in the future, hopefully other people, other real estate agents, other companies out there, they're starting to tell you all about this. But if you're listening to this now in 2019, I've just started my mission here to tell you about all the deep, dark secrets, how the real estate industry actually looks at you. But you've got a chance right now to start planning. And you can look at this magical mystery of home ownership and the real estate agents are the only people out there with the key. You have the key, so start planning right now. And the other reason why you're not hearing this information is because unfortunately the real estate, the real estate industry thinks that you're too much work and you're not a good return on their time. Everybody wants to be a million dollar listing. Everybody wants to be king or queen of the neighborhood and you take too much time. So you're the ignored gap. Well, don't be that. Don't let that happen to you. Don't be the ignored gap in between young adulthood and a homeowner. You take action right now. So if you're a person that's gonna buy a home someday and a person who could end up giving months and months and often years of rent to somebody else, start planning. Take the initiative. Do the big P word planning. It's not sexy. Look, you're not gonna get six minute abs. You won't get 10,000 likes or followers in 10 days. You're not going to make six figures in six months. This is not sexy. There's going to be no immediate gratification, but it's also not that difficult. I'm going to be your cheerleader right here in your ear holes. It's pretty easy. Look, depending on where you live, the American dream is becoming more and more unattainable. If you live in a high priced area, you know, how can you even afford to buy a house and get that American dream? You're not buying like your parents or your grandparents for 60,000 or $17,000. Buying your first house. Lots of places In America, it's 250, 300, 400, $500,000 for a starter home. You need a plan to get there. Everybody can buy a home. It's just a matter of when. So what are your action steps? What do you need to do? Well, the first thing, thanks to the power of the Internet, is listen to the rest of these podcasts. There's a few other good lenders out there that have some great information. There's a couple good guys working on credit that they've got some good stuff too. But if you haven't listened to the rest of these podcasts, it's a realtor's perspective directly to you. Go back from the start, listen to it. There's tons of bite sized nuggets and you can start implementing them today. Now here's another step that freaks a lot of people out. Tell your family. That's the first step of the plan. I'm not kidding. Go tell your family. You'll freak out about your mom, your dad, your grandparents, your uncle, your cousin, that you finally said something quote, unquote responsible, that you're actually not one of those damn millennials that doesn't pay attention to anything. Talk to your family. You never know, you might have some down payment assistance program in the form of bank of mom and dad. It's something to check into, and if mom and dad ain't got it, don't worry about it. I get it. But you never know about your uncle, your grandma, your grandpa. They love it when people are responsible. Next thing, don't do this on your own. It's going to take a little while. Because as we discussed, the real estate industry doesn't think you're worth it. No, realtors want to do it. Well, no, realtors with experience. They're glad to pass you off to a newbie who's never sold a house before or sold one or two houses in the past three years. So you're going to have to do this on your own. You're going to have to search. And in 2019, like I said, you're not going to find much. Hopefully in the future you'll find more. But right now, if you're listening to this, you're an early adopter, so go ahead. I'm just starting this, my mission to make sure I get this information out there. You can call me, text me, tweet me, check me out on Instagram @davidsedoni. No matter where you are, this is my mission. I will help you. I will guide you. I'll give you some free advice. And if, like I said, you're listening to this in the future, find me David Sidoni. I'm sure I've got websites and podcasts in the future. Look, I'm not selling you. I'm talking to people all over the country. Heck, all over the world. This is a podcast. You're an ignored gap and you deserve better. So what are some of the little things you can do for your planning? Well, hopefully, so far, this 16 minutes of information has got you to realize that planning can save you wasted rent money. So that's all you need to do is realize that and then start saving. I'm not asking you, I'm not telling you. Don't do anything fun. I'm not telling you to put 30 or 40% of your money into a savings account, even though you seriously should. But don't worry about it. We'll talk about that later. Look, all I'm telling you is once you get to a place where you're able to afford one of the nicer, or not even nicer, once you're at a place where you can afford the average one bedroom in your neighborhood, if the interest rates are still hovering in that 4 and 5%, you've got a chance to buy. So get over the fear and ask a question. The other thing you can do is once you figure out and start asking questions, you can start working on your credit. That's an important part. Most people come to me and say, okay, I'm ready to buy a house. And if they Talked to me 12 months ago, we could have done 12 months of credit cleanup and it could have saved them a lot of money. And finally, you got to find a guide. Don't do this on your own interview. I'm actually going to do a podcast later on about how to interview a realtor. That's an important part. I'm going to make sure you ask the right questions so you find someone experienced who wants to help you. And you know, if you've listened to this whole thing, I know you're looking for a magic answer. So are you ready? Here comes the magic answer. Save money, plan, get a guide. That's it. There's nothing magic. Save money. Don't feel like you have to scrimp and can't live your life. Start planning and thinking about it and then call somebody and get a guide. And just realize you can probably do this earlier than you think you can. If you got questions, hit me up. Avid Sidoni on Instagram. Follow me Direct Message me. I'll get back to you. Or you can email me, you can text me. I'm all over social media and the web. There's a Facebook page called how to buy a Home. You can check that out too. And finally, if you got any sort of information that helped you out a little bit today, rate, review, review, help me out. This is a true labor of love. This is a passion project for me. I don't care how many first time buyers come to me in California. I want to help people all over the country. And if you review it, then other people are going to hear this podcast. And remember, planning doesn't mean you have to do anything different except start talking to somebody. Check in with them a couple times a year and be ready to go. Now why is this dude screaming into a microphone being a cheerleader? Because I've seen it. I've done it. 13 years of this. 76 first time buyers. And one thing I know. You can do this, Sam.