4/18/2023 – Stay Positive! – Work Hard!

So many things go through your mind when you have been in business for 33-plus years. People tell me I am competitive, which has led to much of my success. When I was a kid, I thought the word competitive was bad. I saw differently by watching people like Michael Jordan, Kobe Bryant, Venus Williams, Serena Williams, Tiger Woods, Tom Brady, and others. These competitors are all winners, but many would call them arrogant, tough teammates with high expectations. They all pushed their teams to new heights and won multiple championships. When average players left those teams, they rarely won again. Some faded out of the league, and others became bench players.

Real Estate is no different than sports! Some people attack and try to win every listing while others wait for the game to come to them. Kobe Bryant famously worked out 3-4 times a day, while other players worked out once. He famously did not pass the ball to certain players in certain situations as he felt they needed to prepare better. We are all honing our craft, trying to meet our next buyer, seller, or borrower in the case of us lenders. Some of us work tirelessly, while others work when they find the time. Some of us are organized with great systems in place, a great attitude, learning new things, hustling, and getting uncomfortable. This job is not easy and it can be lonely too!

Here are a few quotes from the people above. Can you guess who wrote what?

1. “To be successful, you have to be selfish, or else you never achieve. And once you get to your highest level, then you have to be unselfish. Stay reachable. Stay in touch. Don’t isolate.”
2. “Everyone’s dream can come true if you just stick to it and work hard.”
3. “Things don’t correct themselves, you’ve got to go out there and work hard to correct them.”
4. “I have self-doubt. I have insecurity. I have fear of failure. I have nights when I show up at the arena, and I’m like, ‘My back hurts, my feet hurt, my knees hurt. I don’t have it. I just want to chill.’ We all have self-doubt. You don’t deny it, but you also don’t capitulate to it. You embrace it.”
5. “I don’t focus on what I’m up against. I focus on my goals, and I try to ignore the rest.”
6. “You’ve got to stay patient, stay in the moment, and keep grinding. You never know what can happen.”– Answers at the bottom —

I hope this gets you a little more motivated than you were before. In 33 years, I have learned a lot, I have hustled and made my competitors mad with my knowledge, my work ethic, my hustle, my performance, and drive. I may not be the smartest person, but nobody will outwork me, and my team. My Loan Officers at Augusta are on their game too, and if you had a top 10 Loan Officers in this valley, I would have four to five of them in my office alone! Hard work is contagious in all aspects of a business. I meet with agents weekly to review business planning, increase their sphere of influence, and discuss business growth and investments.

I look forward to learning more about what you all need from us, so we can continue growing our businesses together.

Interest rates have had a couple of rough days, but rates are still hanging in there. A couple of credit unions got hit pretty hard when they had to sell some mortgages, and they have raised their rates far above the standard mortgage companies. This took longer than I thought, but it’s about time! LOL!

• 12-day escrows if your buyer is pre-approved - Conventional / FHA / Jumbo / Bridge
• 0 down California Dream for all Equity Share – Postponed until 2024!
• 3/2/1 Buydowns 2/1 Buydowns and 1/0 Buydowns are available at great start rates!
• Government Loans (FHA / VA) are in the low to mid 5’s.
• Conventional Loans up to $726,200.00 are in the mid 5’s to low 6’s.
• High Balance Loans $726,201.00-$ 1,089,300.00 are in the high 5’s and low 6’s
• Jumbo loans above $1,089,300 are in the low to mid 6’s
• 5/1, 7/1, 10/1 Arms are in the 5’s and 6’s.
• Bank statement loans - They are available with 10% down again! 7’s + depending on down and credit score.
• Stated income loans – 20% down with reserves! In the 8’s and 9’s!
• 0 down loans are in the high 5’s to low 6’s- 620 credit score min right now! Low 6’s, for the most part, up to $725,000.00.
• Private Money lenders - hard Money Loans – 35% down!
• No Ratio Loans 30% down
• Debt Service Coverage loans with as little as 25% down
• Bridge Loans - are typically 6.99% with limited fees – But they get you where you need to go!

Interest rates are subject to change without notice! Above are LA County Loan Limits.

Answers to the quote questions – 1=MJ, 2=SW, 3=TB, 4=KB, 5= VW, 6=TW

I am around all week if you have any questions or if someone is interested in buying a property! My cell is 661-714-6258, and my office line is 661-260-2970 ext. 2222. Please text me at 661-714-6258 or email me at Mike@AugustaFinancial.com. Have a great day and a better tomorrow! Please call me when you have a client that needs to borrow!