Latest / Black Fridays: Business Growth for Entrepreneurs, Creators & Professionals / Detroit’s First Black-Owned Mortgage Company Changing Homeownership - Ep. 144 w/ Belong Lending

Transcript

Detroit’s First Black-Owned Mortgage Company Changing Homeownership - Ep. 144 w/ Belong Lending · Black Fridays: Business Growth for Entrepreneurs, Creators & Professionals

• 0:00
  [SPEAKER_05]: So the message behind is like we wanted people to feel like they belong just so many times in Detroit or people that look like us haven't had the opportunity or seat at the table to see that person like we've all said that like didn't think they could own a home and like say no like you can and this is how I think that's like part of our vision.
• 0:19
  [SPEAKER_00]: Everybody is looking up purchase and investing Detroit.
• 0:22
  [SPEAKER_00]: Our home values are increasing
• 0:25
  [SPEAKER_00]: faster than any other city in the country, is actually about thirty percent.
• 0:29
  [SPEAKER_00]: So when you invest in D Shore, you're going to get things for your buck.
• 0:52
  [SPEAKER_01]: This episode is bought to you by our friends at Bamboo.
• 0:56
  [SPEAKER_01]: Yes, I am sitting in the podcast room at the Bamboo Detroit location right now, which is where you have seen a ton of the Black Friday's podcast episodes.
• 1:04
  [SPEAKER_01]: And the reason that it is is because Bamboo has been Black Friday's creative hub for the last couple of years.
• 1:10
  [SPEAKER_01]: However,
• 1:11
  [SPEAKER_01]: It's much more than our creative HQ, it's home to hundreds of entrepreneurs, creators, thinkers, and doers just like yourself.
• 1:18
  [SPEAKER_01]: Now, rather you need a private suite that's customized to your liking so that you can effectively get worked done, or if you need a space to be able to host a meeting or a conference call, bamboo has flexible, creative spaces, and a supportive community to match.
• 1:32
  [SPEAKER_01]: Now, if you don't get anything from this message, I need you to do this right here.
• 1:35
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• 1:41
  [SPEAKER_01]: That's right.
• 1:42
  [SPEAKER_01]: Any of their Bamboo cowork locations, and you can also find a link in the show notes as well to get those details.
• 1:48
  [SPEAKER_01]: And it's time for you.
• 1:50
  [SPEAKER_01]: Yeah, that's right.
• 1:50
  [SPEAKER_01]: You to join the Bamboo community.
• 1:53
  [SPEAKER_01]: That's it.
• 1:53
  [SPEAKER_01]: Time to get into the show.
• 1:55
  [SPEAKER_01]: We're not done with Black Friday family, welcome back to another installment of the Black Friday's podcast.
• 1:59
  [SPEAKER_01]: Before we come in, before we start today's episode, I need you to make sure you hit that like button, subscribe, drop a comment, send a video to a family friend, and love once you can keep this thing going.
• 2:08
  [SPEAKER_01]: Now that I got that out of the way, we are doing something we haven't done in a while.
• 2:11
  [SPEAKER_01]: We actually own location in Detroit at a beautiful mortgage lending firm called Belong, Linda, and I'm sitting here with the co-founders with Jayla, Antoinette, and the meachers.
• 2:22
  [SPEAKER_01]: How y'all doing today?
• 2:25
  [SPEAKER_01]: Good to see y'all appreciate y'all for allowing us in the space and actually I chance to tour it during y'all grant opening, which was dope a few months ago.
• 2:32
  [SPEAKER_01]: So before we go any further, I need to establish a couple of definitions for folks who may not fully understand kind of the mortgage lending, financial lending, home buying process, things like that.
• 2:46
  [SPEAKER_01]: So you all are a black home mortgage lending firm.
• 2:50
  [SPEAKER_01]: What does that mean?
• 2:51
  [SPEAKER_01]: Talk to me like I'm six years old.
• 2:55
  [SPEAKER_02]: Yeah, so first and foremost, I always like to tell potential home buyers that were independent brokers.
• 3:01
  [SPEAKER_02]: We own our own company, which allows us to access financing from most lender across the country.
• 3:08
  [SPEAKER_02]: So if you're a potential homeowner and you're looking to buy a home, you could walk into a bank and speak to their license loan officer that only has their products and rates.
• 3:17
  [SPEAKER_02]: Or you can talk to a broker like us where we can take one application, look at your credit one time.
• 3:22
  [SPEAKER_02]: And then we can click a button and shop ten or twelve lenders for our clients.
• 3:26
  [SPEAKER_02]: And because we're in the city, we try to keep our clients' best interests in mind when we're doing that and make sure that we get people in the homes.
• 3:35
  [SPEAKER_01]: Definitely, so appreciate you for walking us through that.
• 3:37
  [SPEAKER_01]: And also, I have to ask you all have your own histories in terms of the mortgage industry, financial and things like that.
• 3:45
  [SPEAKER_01]: Why all come together in order to do this thing?
• 3:48
  [SPEAKER_01]: You all could, you know, you was making money.
• 3:49
  [SPEAKER_01]: You could just kept doing your thing individually.
• 3:51
  [SPEAKER_01]: Why come together to build this?
• 3:53
  [SPEAKER_00]: I feel like it was important to actually collaborate together.
• 3:56
  [SPEAKER_00]: Especially as an entrepreneur, you know your strong students and your weaknesses.
• 4:00
  [SPEAKER_00]: So with me and Jalen, Dimitris coming together, we really balance each other out.
• 4:05
  [SPEAKER_00]: Like Jalen is more so like our tech guy, more so like marketing and vision, Dimitris more like operations and finance.
• 4:12
  [SPEAKER_00]: So it's just important to know your weaknesses and strengths.
• 4:14
  [SPEAKER_00]: And then when you come together, you can really solidify like a great business that way.
• 4:19
  [SPEAKER_02]: Yeah.
• 4:19
  [SPEAKER_02]: And if I can just add, I feel like we saw the vision of having a team like we could, we were doing fine by ourselves, but we just had a bigger vision for what we wanted to build with some of the people that we wanted to collaborate with.
• 4:31
  [SPEAKER_01]: And this is mission driven work.
• 4:33
  [SPEAKER_01]: In a sense, this isn't just like another mortgage lending company.
• 4:36
  [SPEAKER_01]: What's the messaging and the purpose behind belong?
• 4:40
  [SPEAKER_05]: So the message behind is like, we wanted people to feel like they belong just so many times in Detroit or people that look like us haven't had the opportunity or seat at the table.
• 4:52
  [SPEAKER_05]: And our mission was to come together and make sure people that look like us or everybody just in general to have a seat at the table.
• 5:00
  [SPEAKER_01]: Absolutely.
• 5:01
  [SPEAKER_01]: So now we go have some fun on Black Friday, which my favorite part, freestyle Fridays.
• 5:12
  [SPEAKER_01]: So if you all have, I don't know if y'all seen me in the episodes, no anybody that's been on the show, but I need y'all all the rap.
• 5:18
  [SPEAKER_01]: So whichever one y'all want to go first.
• 5:24
  [SPEAKER_01]: I can tell Anton that's probably freestyle in the back of the car.
• 5:28
  [SPEAKER_00]: Not really, not really.
• 5:29
  [SPEAKER_01]: All right.
• 5:29
  [SPEAKER_01]: Well, I'll let y'all have to hook a little bit.
• 5:31
  [SPEAKER_01]: So freestyle Friday is just a random serving of questions.
• 5:33
  [SPEAKER_01]: So I just need you on to answer each one.
• 5:35
  [SPEAKER_01]: And it's honestly okay.
• 5:36
  [SPEAKER_01]: We go start with a softball.
• 5:37
  [SPEAKER_01]: I just want to know what's in all your rotation right now since we talking about music every style and what you got in rotation right now.
• 5:44
  [SPEAKER_00]: Look, I'm more of like a Neo Soul type J. So I got like Alex Eisley on mine got a little bit of Kendrick in there.
• 5:52
  [SPEAKER_00]: Um, yeah.
• 5:53
  [SPEAKER_00]: And I like with a big X the blood.
• 5:57
  [SPEAKER_00]: I've been listening to that.
• 5:57
  [SPEAKER_00]: He's smooth.
• 5:58
  [SPEAKER_00]: He's smooth.
• 5:59
  [SPEAKER_00]: That like it.
• 6:01
  [SPEAKER_02]: I've been playing that new gunner.
• 6:02
  [SPEAKER_02]: It's like twenty tracks long, so I got to go through it and see picks and pull some tracks out.
• 6:07
  [SPEAKER_02]: But I think chance just dropped the album.
• 6:09
  [SPEAKER_02]: Trying to give him some love, because when he was at his peak, you know, everybody loved chance.
• 6:16
  [SPEAKER_05]: I've been listening to the clips that's been the rotation heavy Nick Grant.
• 6:23
  [SPEAKER_05]: He just dropped the tape and then like the the chance.
• 6:26
  [SPEAKER_05]: I mean, he's he's a part of our his like growing up, but I think it was it was a good it was a good album.
• 6:33
  [SPEAKER_01]: So yeah, so now we're going to get a little personal.
• 6:35
  [SPEAKER_01]: What's your family nicknames?
• 6:37
  [SPEAKER_00]: Uh-oh.
• 6:38
  [SPEAKER_00]: I thought I'd definitely got one because nobody really calls me Antoinette.
• 6:42
  [SPEAKER_00]: So my family calls me either Tony or Tudy.
• 6:46
  [SPEAKER_00]: Okay.
• 6:46
  [SPEAKER_00]: That's my name.
• 6:49
  [SPEAKER_05]: Mine is DJ.
• 6:52
  [SPEAKER_02]: I feel like I had like a childhood nickname as like JJ or but now people just call me jailer Jay.
• 6:57
  [SPEAKER_02]: I don't really have one now.
• 6:59
  [SPEAKER_01]: Okay.
• 7:01
  [SPEAKER_01]: In terms of, there also another personal question.
• 7:04
  [SPEAKER_01]: We're not talking about business right now.
• 7:05
  [SPEAKER_01]: This is just from you and your own perspective.
• 7:08
  [SPEAKER_01]: What's the most you willing to lean somebody in terms of money without expecting the back?
• 7:13
  [SPEAKER_01]: Like if it's a dollar over, you're going to be on the head.
• 7:15
  [SPEAKER_01]: But we're willing to part with it.
• 7:17
  [SPEAKER_02]: So because we all probably had to learn some people's money.
• 7:21
  [SPEAKER_01]: For sure.
• 7:21
  [SPEAKER_01]: You don't have to name no name.
• 7:24
  [SPEAKER_01]: Right.
• 7:24
  [SPEAKER_00]: And now we're cutting that out.
• 7:26
  [SPEAKER_01]: If you listen, I mean, I have to.
• 7:28
  [SPEAKER_01]: What's the most you willing to part with?
• 7:32
  [SPEAKER_02]: I think I'm gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was gonna say, I was
• 7:48
  [SPEAKER_02]: And that's just not even off the money, it's off the principle.
• 7:52
  [SPEAKER_02]: Like you know you owe me money.
• 7:53
  [SPEAKER_02]: Like why are you tracking you down?
• 7:56
  [SPEAKER_01]: Not getting somebody come back for a repeat loan if they already got the hundred or two hundred can they come back and like let me get the extension plan.
• 8:02
  [SPEAKER_05]: No, we ain't doing those stuff.
• 8:03
  [SPEAKER_01]: No, I'm not going to look.
• 8:05
  [SPEAKER_00]: I'll keep lending if they pay in and back.
• 8:07
  [SPEAKER_01]: Yeah.
• 8:08
  [SPEAKER_00]: Like if they give them the hundred back or whatever, I'll give it again.
• 8:11
  [SPEAKER_00]: All these to those people that pay back, you know how that is.
• 8:13
  [SPEAKER_04]: Yeah, but I gotta look at you, sidewalk.
• 8:15
  [SPEAKER_04]: You keep asking.
• 8:17
  [SPEAKER_04]: We gotta set a budget or something.
• 8:19
  [SPEAKER_04]: We can't keep an age limit.
• 8:20
  [SPEAKER_02]: Yeah.
• 8:22
  [SPEAKER_02]: If you gotta college, don't come with you.
• 8:24
  [SPEAKER_02]: You got one or two times and then you keep not a cash advance.
• 8:27
  [SPEAKER_02]: You can't keep using your life for a half life.
• 8:30
  [SPEAKER_05]: Let's come up with a budget.
• 8:33
  [SPEAKER_01]: Are y'all have y'all reached the status of life where you like the younger people in your family, you slide them a random, twenty-year-a-teen, and be like here, go get you something or do something with this?
• 8:42
  [SPEAKER_00]: I have a lot of nieces and nephews, so I've definitely done that, yes.
• 8:46
  [SPEAKER_05]: Yeah, we're just nieces and nephews for me, nobody, cousin here and there, but nieces and nephews for sure.
• 8:52
  [SPEAKER_02]: Yeah, I got younger siblings, so I feel like I'm already doing that.
• 8:55
  [SPEAKER_01]: Yeah, good, good.
• 8:56
  [SPEAKER_01]: Shout out to y'all.
• 8:57
  [SPEAKER_01]: So do you have a favorite destination or place that you all like to vacation?
• 9:03
  [SPEAKER_00]: I don't have a, well, I have a favorite thus far, right?
• 9:08
  [SPEAKER_00]: For me, out of all the places, I keep going back to a be Saint Lucia, just because of the vibes and the people, which is so dope.
• 9:16
  [SPEAKER_00]: It was pictures of the place.
• 9:17
  [SPEAKER_00]: Yeah, yeah, it was a good time.
• 9:19
  [SPEAKER_05]: I mean, me personally, my favorite is probably, is Ghana, but I've only been there once, I want to get back, but for sure, my favorite place.
• 9:30
  [SPEAKER_02]: Africa's definitely next for me.
• 9:33
  [SPEAKER_02]: But I recently went to Portugal.
• 9:35
  [SPEAKER_02]: I thought it was dope.
• 9:36
  [SPEAKER_02]: The coast was gorgeous.
• 9:37
  [SPEAKER_02]: It was like one of the best beaches I've seen.
• 9:39
  [SPEAKER_02]: Super private cliffs.
• 9:41
  [SPEAKER_02]: So it was just seen it.
• 9:43
  [SPEAKER_01]: So because we have a focus in Detroit and obviously you all purposely decide to have your space in Detroit.
• 9:50
  [SPEAKER_01]: Let's say somebody comes in from my town now and the first thing about the city.
• 9:53
  [SPEAKER_01]: Where are you taking them?
• 9:54
  [SPEAKER_01]: Where's the first place you're all going?
• 9:56
  [SPEAKER_01]: What are they trying to do?
• 9:58
  [SPEAKER_01]: They leave it up to you.
• 9:59
  [SPEAKER_01]: They like listen.
• 10:01
  [SPEAKER_01]: My day wide open.
• 10:02
  [SPEAKER_01]: Help me out.
• 10:04
  [SPEAKER_00]: Okay, so this is, look, I like to eat, and I feel like if you need to know Detroit, we gotta go to Cone Island, period.
• 10:10
  [SPEAKER_00]: And we're gonna go down here, it's a Lafayette.
• 10:14
  [SPEAKER_00]: That's the first stop, because you gotta get some food, so.
• 10:18
  [SPEAKER_05]: I was gonna say Cone Island, and then, what is it, the DIA?
• 10:22
  [SPEAKER_05]: Yeah, my first two.
• 10:24
  [SPEAKER_02]: Yeah, I'm thinking like, when I got people coming out of town, they're trying to have a good time, so I'm like, we can go to a Tigers game, or maybe hit like,
• 10:33
  [SPEAKER_02]: a little spot after trying to think like daytime bars.
• 10:37
  [SPEAKER_01]: If not, we don't have a good turn or maybe I'm out of touch.
• 10:40
  [SPEAKER_01]: I don't know, I'll be out of touch.
• 10:42
  [SPEAKER_02]: I mean, after a tiger's game, but yeah, daytime is kind of nighttime.
• 10:46
  [SPEAKER_02]: Night time for sure.
• 10:47
  [SPEAKER_02]: Yeah, there's always something to do.
• 10:48
  [SPEAKER_02]: I probably go to parlay as nice as new.
• 10:50
  [SPEAKER_02]: Yeah.
• 10:52
  [SPEAKER_05]: Even in bars pretty good.
• 10:53
  [SPEAKER_02]: Even bars are good spot.
• 10:55
  [SPEAKER_02]: If they're trying to like really get down, you go to a big pink or something.
• 10:58
  [SPEAKER_02]: Yeah.
• 10:58
  [SPEAKER_01]: Yeah.
• 10:58
  [SPEAKER_02]: Yeah.
• 11:00
  [SPEAKER_01]: We'll appreciate y'all for partaking a freestyle friday, even though y'all didn't rap, but you know, maybe maybe next time.
• 11:05
  [SPEAKER_00]: Next time catch me.
• 11:15
  [SPEAKER_01]: So in terms of going back to the long and learning about the journey overall, where did you all start individually in terms of being in the mortgage industry and the home buying experience overall?
• 11:29
  [SPEAKER_00]: Yeah, I started off in the industry at what was called Quicken Loans at the time, now called the Rocky Mortgage.
• 11:36
  [SPEAKER_00]: So I started off there and got my license in and then transitioned over to United Hotel Mortgage as an accounting executive and then been on the broker side here for a little over five years.
• 11:48
  [SPEAKER_05]: Well, similar to her, I was quick and loans.
• 11:51
  [SPEAKER_05]: Then United Hotel Mortgage and then, twenty-nineteen came over to the broker side.
• 11:56
  [SPEAKER_02]: Yeah, very similar, but just UWM for about seven years in transition recently within the last two years.
• 12:02
  [SPEAKER_01]: Nice.
• 12:03
  [SPEAKER_01]: And on the scale of one to ten, how hard, whether for each of you to make that decision to say, I'm willing to bet on myself and go out and start to collaborate with my co-founders and work on something for me versus working for these other institutions.
• 12:19
  [SPEAKER_01]: Because once again, you know,
• 12:21
  [SPEAKER_01]: probably comfortable lifestyle, you can check out your two weeks or have it at work out, you know, why bet on yourself, why, why go out on faith like that.
• 12:29
  [SPEAKER_02]: I definitely think it's like a personality thing.
• 12:31
  [SPEAKER_02]: Some people love to be employees, and I've learned that, but it's something I'm super passionate about, just the transition that we've all made, just because I'm a firm believer that there is no such thing as a state job.
• 12:44
  [SPEAKER_02]: I've seen so many of my friends get laid off in hard times, or the role changes, so I was just in a position in my life where I was fortunate enough to have saved some money.
• 12:57
  [SPEAKER_02]: kind of had some foresight on the industry and decided to just take a leap of faith on myself because I didn't have kids or a wife or anything at the time or I don't now, but it was just the right time for me.
• 13:07
  [SPEAKER_02]: So I was grateful I did.
• 13:09
  [SPEAKER_00]: Yeah.
• 13:10
  [SPEAKER_00]: So I mean, I'm a mother and a wife and I just need it more flexibility in lifestyle.
• 13:15
  [SPEAKER_00]: You know, I didn't want to have to put in for time off and things of that nature.
• 13:19
  [SPEAKER_00]: and my husband's support.
• 13:21
  [SPEAKER_00]: And also, I just have a, just a go-getter mindset, so I always bet on myself.
• 13:27
  [SPEAKER_00]: And so, yeah, it was just, I had the support of my family behind me, so.
• 13:32
  [SPEAKER_05]: Always new growing up, I wanted to own something, I didn't know what, but similar to Jalen, no wife, no kid, so I knew at a certain point, I just had to, once I had enough saved up or somewhat saved up, I just had to take the lead to faith.
• 13:47
  [SPEAKER_01]: And then what were the conversations like with you all when this thing started to get the inception of it?
• 13:52
  [SPEAKER_01]: Like, who was it a singular personal idea?
• 13:56
  [SPEAKER_01]: Obviously, you all come together to make it work and then other people that you work with, but how did those conversations even start?
• 14:02
  [SPEAKER_02]: Well, I'll just say I like
• 14:04
  [SPEAKER_02]: I got to be with them.
• 14:05
  [SPEAKER_02]: I have a different view of them because they left into like an independent space before me.
• 14:09
  [SPEAKER_02]: And I was always very apprehension, apprehensive.
• 14:12
  [SPEAKER_02]: Because I was like, you know, I just finally started making money.
• 14:15
  [SPEAKER_02]: Only person in my family, like I got to be careful.
• 14:17
  [SPEAKER_02]: And then, you know, when I finally did come over to this side, I kind of just felt their energy and what they had going on.
• 14:23
  [SPEAKER_02]: I'm like, wait, we have a company here.
• 14:25
  [SPEAKER_02]: Why isn't this a company?
• 14:27
  [SPEAKER_02]: And I think, you know, timing and circumstances just lined it up so where we needed to and then it just took off.
• 14:35
  [SPEAKER_05]: Yeah.
• 14:36
  [SPEAKER_05]: I mean, we had, um, we had worked at the same place since, twenty nineteen and a lot of changes were happening.
• 14:44
  [SPEAKER_05]: And then I remember Antoinette and I had a conversation like,
• 14:48
  [SPEAKER_05]: What are we doing?
• 14:49
  [SPEAKER_05]: Why are we doing this on our own?
• 14:51
  [SPEAKER_05]: And we talked and then we called Jaylin.
• 14:53
  [SPEAKER_05]: We're like, hey, we think we want to start our own.
• 14:56
  [SPEAKER_05]: Are you on board?
• 14:57
  [SPEAKER_05]: And he was like, I was already thinking it.
• 14:59
  [SPEAKER_00]: So he was already working on it.
• 15:02
  [SPEAKER_05]: So we were already thinking about it.
• 15:04
  [SPEAKER_05]: We all thought about it.
• 15:05
  [SPEAKER_05]: We just weren't like, when things started changed, that's when we forced us to kind of make it happen.
• 15:12
  [SPEAKER_01]: And when you all started getting into the thick of it, like, what was that moment for you all where it was like, oh, damn, we really got a fully functional business here, like we actually doing this and making it happen, like whether it was the first client or first moment, like what was that like,
• 15:27
  [SPEAKER_00]: Man, to be honest with you, and I'm sure Jalen and Dimitris can both agree, it kind of went so fast.
• 15:35
  [SPEAKER_00]: Just even the development of our business, because literally when we made that decision to collaborate and come together to start belonging, the next month we were setting up a business account, and we were doing the photo shoots and stuff, and I feel like it really hit us, no joke.
• 15:50
  [SPEAKER_00]: Probably when we made the announcement, January first,
• 15:53
  [SPEAKER_00]: Our phones were ringing.
• 15:54
  [SPEAKER_00]: We made a drop on Instagram and all social media platforms and our team just started coming together because of folks that we already knew in the industry and we knew we had something special at that moment for sharing.
• 16:06
  [SPEAKER_00]: Yeah.
• 16:07
  [SPEAKER_05]: I would say if for sure, January one, when we drop the video, but I think now as it's been progressing, like after our grand opening and all the love that we got in the grand opening and the social media outlets and the news, I was like, well, we really do have a company here.
• 16:24
  [SPEAKER_02]: Yeah, no I almost forgot like when we first rolled it out like I felt like there was like a shockwave in our little small community like oh oh I damn they're about to do some big yeah so I think some people forget like we're only not even two years old and I guess it hit me when you know I'm calling potential people to partner with
• 16:44
  [SPEAKER_02]: and they already know who we are.
• 16:46
  [SPEAKER_02]: And they're like, you guys are only a year old.
• 16:49
  [SPEAKER_02]: And it just kind of showed or told me that there's a real appetite for what we're doing in the city.
• 16:53
  [SPEAKER_02]: There isn't really a lot of people representing those that are looking to buy a home that might not know how to.
• 17:00
  [SPEAKER_02]: So I think just recently, making those phone calls, doing the grand opening, seeing the type of turnout we get.
• 17:06
  [SPEAKER_02]: And now just feeling the momentum of people are calling us now.
• 17:10
  [SPEAKER_02]: It's been really cool.
• 17:11
  [SPEAKER_01]: And I want to ask you all in terms of that momentum that you got when you first started, because I had opportunity to see that the social media, different platforms, and be able to see how you always started to be able to block for it in the anticipation of it.
• 17:24
  [SPEAKER_01]: So I knew the media is because we had worked together when I purchased my first home and then I'm starting to see you all
• 17:31
  [SPEAKER_01]: put the building blocks together.
• 17:32
  [SPEAKER_01]: So I know, Anthony, you said you have more of the marketing brain and marketing skills.
• 17:37
  [SPEAKER_01]: What was the approach to being able to get the name out there too?
• 17:41
  [SPEAKER_01]: Because one thing I know about this industry in particular, and obviously you ought to experts, so I'm leaving no y'all thought process, but it's very much a
• 17:50
  [SPEAKER_01]: You have to market.
• 17:51
  [SPEAKER_01]: You have to get to face out there.
• 17:53
  [SPEAKER_01]: You got to meet people and you got to build relationships and maintain them.
• 17:56
  [SPEAKER_01]: Otherwise, you really don't have much.
• 17:58
  [SPEAKER_01]: So could you talk to me like what was the approach to the marketing and being able to get some of that inbound marketing terms of new customers who may have not even known who you all were as individuals or worked with you before?
• 18:11
  [SPEAKER_00]: I really feel like and it's something that people still reach out to us and tell us when we're posting on social media as our branding.
• 18:17
  [SPEAKER_00]: I feel like our branding is like we're trying to catch up with our branding right now.
• 18:22
  [SPEAKER_00]: We really set aside time and got with someone that put together all of our branding.
• 18:28
  [SPEAKER_00]: everything that we did especially when we post things of all three of us together really kind of brings our brand out there and that's how we're able to draw on business because we already had our own individual brands and so us collaborating together really made a big I feel like a big splash in the community that way.
• 18:45
  [SPEAKER_02]: And if I could give her her flowers, I feel like she was super intentional about who we brought on, you know, how we built it, the speed at which.
• 18:53
  [SPEAKER_02]: And like, I think, you know, we're like thinking like money wise like, oh, I don't know if we want to spend on that right now.
• 18:58
  [SPEAKER_02]: We just started.
• 18:59
  [SPEAKER_02]: And she like reminded us like of what we had and like what we could do with what we have.
• 19:06
  [SPEAKER_02]: So we really invested in, you know, selling that and getting it in front of people.
• 19:11
  [SPEAKER_01]: So let me test y'all now as a little bit because since you all are experts, I want to talk about the market, what we see out there right now and some of the things that are impacting or is impacting the market and people willing to go about homes and things that are nature.
• 19:28
  [SPEAKER_01]: So first I would like to start with, could you talk from, I believe we're all millennials, could you talk from a, what's important from a millennial perspective for people to start thinking about if they want to purchase their first home?
• 19:43
  [SPEAKER_02]: I mean.
• 19:45
  [SPEAKER_02]: I would say understand some of the basic requirements.
• 19:50
  [SPEAKER_02]: One, make sure your credits in the right place, at least be managing, looking on some of the banking apps.
• 19:55
  [SPEAKER_02]: Understand where your credits at and how that affects.
• 19:58
  [SPEAKER_02]: Two, try to save your money.
• 20:00
  [SPEAKER_02]: Because there's a ton of programs that I'll advertise.
• 20:03
  [SPEAKER_02]: Zero dollars out of pocket.
• 20:05
  [SPEAKER_02]: Maybe one percent of those people will ever get that.
• 20:08
  [SPEAKER_02]: And just work with someone you trust.
• 20:11
  [SPEAKER_02]: You're going to be thrown so many terms.
• 20:14
  [SPEAKER_02]: You know, you're going to be seeing so many homes in a water heater and this inspection and this costs and this lender.
• 20:21
  [SPEAKER_02]: Like if there's no way that you're ever going to learn everything in time, you have to work with someone you trust to educate you on what you need to know.
• 20:29
  [SPEAKER_00]: Right.
• 20:30
  [SPEAKER_00]: And I would just piggyback and awful with Jalen said, and regards to the down payment assistant programs, just millennials and people in general understanding is down payment assistance.
• 20:41
  [SPEAKER_00]: You know, you got it.
• 20:42
  [SPEAKER_00]: You're going to be, you got to have skin in the game.
• 20:44
  [SPEAKER_00]: You're going to pay money out of pocket.
• 20:45
  [SPEAKER_00]: You can't reach out to purchase a home.
• 20:48
  [SPEAKER_00]: You're getting lend like two hundred thousand dollars on a
• 20:51
  [SPEAKER_00]: on a home, you can't just have a thousand dollars, you know, ready available.
• 20:54
  [SPEAKER_00]: And then also making sure you know what is your comfortable monthly payment.
• 20:58
  [SPEAKER_00]: And just know as your first home, it doesn't have to be your forever home if your first time making that step and buying a home purchase.
• 21:06
  [SPEAKER_05]: And I would say, too, is that when you, like he said, find somebody that you trust, a lot of times people, you know, go to the first person they talked to or whatever.
• 21:16
  [SPEAKER_05]: But you truly need to find somebody that you trust, one, but to don't listen to the outside noise.
• 21:22
  [SPEAKER_05]: There's a lot of times people come and they say, oh, my aunt told me this, my cousin told me this and these people have never even bought in home.
• 21:29
  [SPEAKER_05]: So trust the people or find the person you trust and trust the information that they're giving to you.
• 21:34
  [SPEAKER_01]: Right.
• 21:36
  [SPEAKER_01]: For people's education, obviously went through the home buying process, so I understand it, but what would you say is your proximity and or relationship with realtors?
• 21:44
  [SPEAKER_01]: What does that look like?
• 21:45
  [SPEAKER_01]: That's a good question.
• 21:48
  [SPEAKER_05]: I mean, we're a hundred percent realtor referrals here.
• 21:51
  [SPEAKER_05]: We're not a lead buy shop, so we pretty much primarily
• 21:56
  [SPEAKER_05]: rely on real estate agents, so with them pretty much every day every day.
• 22:04
  [SPEAKER_02]: And they're in terms of their role for a home buyer compared to ours.
• 22:08
  [SPEAKER_02]: It's like their job is to help you negotiate.
• 22:12
  [SPEAKER_02]: the cost of the home in terms of, hey, are you going to buy this home for two hundred thousand or you're going to buy for two hundred ten thousand?
• 22:17
  [SPEAKER_02]: Are you going to move in in thirty days or you're going to move in sixty days?
• 22:20
  [SPEAKER_02]: Are you going to pay your closing costs as a seller like all that is what they negotiate and help you with and we help you get approved for the financing to buy that house.
• 22:30
  [SPEAKER_02]: kind of need both.
• 22:32
  [SPEAKER_02]: You need someone to make sure that you're approved by the home, walk you through the financing process, help you understand what you'll pay monthly and not a pocket, but they help you negotiate the contract, we help you get the financing.
• 22:43
  [SPEAKER_01]: Perfect.
• 22:44
  [SPEAKER_01]: And what would you, so let's talk about the market right now, twenty twenty five.
• 22:48
  [SPEAKER_01]: What does that look like in terms of the home binding experience.
• 22:51
  [SPEAKER_01]: We got a lot of things just going on.
• 22:52
  [SPEAKER_01]: People might be wondering, it's a terrorist going to impact me getting the home and and sometimes this year or in the near future.
• 22:58
  [SPEAKER_01]: What does the outlook of the market look like right now?
• 23:03
  [SPEAKER_00]: I feel, I feel like the market, I always never just focus on the race they're going to do what they're going to do.
• 23:10
  [SPEAKER_00]: They're going to increase.
• 23:10
  [SPEAKER_00]: They're going to decrease.
• 23:12
  [SPEAKER_00]: And I feel like a lot of clients want to wait for, I want to wait until the race drop.
• 23:16
  [SPEAKER_00]: And I always tell folks don't wait until the race drop because we can always refinance you in the future.
• 23:21
  [SPEAKER_00]: make sure you're in a comfortable monthly payment and also when those rates do drop, you're actually competing against more people, right?
• 23:28
  [SPEAKER_00]: And you might end up even overpaying for that home that you can take advantage of right now or less home buyers out there.
• 23:34
  [SPEAKER_00]: So I feel like it's just just important to understand what your comfortable monthly payment and it's always important just to go out there and invest and purchase a home overrancing overall.
• 23:44
  [SPEAKER_02]: No, I love that.
• 23:45
  [SPEAKER_02]: And it's definitely something that I think we're all saying every day on the phone to our clients.
• 23:49
  [SPEAKER_02]: And I feel like there's like a ton of things we can say about the market today, but like just for Michigan and Metro Detroit.
• 23:57
  [SPEAKER_02]: The housing inventory is still forty percent lower than it was pre-pandemic, which means there's not enough homes for people that want to buy.
• 24:06
  [SPEAKER_02]: So even if you are on the fence when you do get in, you're submitting an offer against eleven other people.
• 24:15
  [SPEAKER_02]: And with tariffs, like Michigan's housing market, there's not a ton of new developments.
• 24:20
  [SPEAKER_02]: There's a lot of homes in Detroit that are being rehabbed.
• 24:22
  [SPEAKER_02]: It's a big market.
• 24:23
  [SPEAKER_02]: So I think for Metro Detroit, especially some of the tariffs can affect housing inventory.
• 24:28
  [SPEAKER_02]: I mean, five years ago, I don't think Bagley was a neighborhood, anyone was really moving into.
• 24:32
  [SPEAKER_02]: Now you can't get into Bagley.
• 24:34
  [SPEAKER_02]: So I think it's definitely slowed down some of the renovation projects.
• 24:40
  [SPEAKER_02]: And I don't really see inventory creeping up high enough for people to wait.
• 24:46
  [SPEAKER_02]: Like, I think the most pressing issue is, is there even going to be a home that you want to buy?
• 24:51
  [SPEAKER_02]: So like, get pre-approved, like fill out an application and see if you even qualify.
• 24:55
  [SPEAKER_02]: Like, your people are psyching themselves out of buying a home and they don't even know what it means to buy a home.
• 25:03
  [SPEAKER_02]: That would be my two cents.
• 25:04
  [SPEAKER_01]: When you start that process, what should somebody first stop be?
• 25:07
  [SPEAKER_01]: Should they come to you all first?
• 25:08
  [SPEAKER_01]: Should they go to a realtor first?
• 25:09
  [SPEAKER_01]: Like where?
• 25:10
  [SPEAKER_01]: What's your date today about a housing cash?
• 25:12
  [SPEAKER_01]: What should they do first?
• 25:13
  [SPEAKER_05]: A lot of people always go to the realtor first because they see them post a line and looks pretty because they were the ones who show in the homes, but they honestly should be coming to, if they don't have cash, they should be coming to a mortgage broker like us because the realtor can't do much with you until they know how much you can actually afford to buy.
• 25:32
  [SPEAKER_05]: So they definitely should be coming to us first.
• 25:36
  [SPEAKER_01]: And I got to ask y'all this, what's the craziest scenario that y'all have had?
• 25:39
  [SPEAKER_01]: So y'all been in business like as people come to you and say, you know, I need everything zero percent down or how was that every week.
• 25:48
  [SPEAKER_02]: I got no job, no credit.
• 25:49
  [SPEAKER_02]: What can you do for me?
• 25:51
  [SPEAKER_00]: Seriously, you'll have a comment.
• 25:55
  [SPEAKER_00]: I just had a conversation and someone just would like, yeah, don't have
• 25:59
  [SPEAKER_00]: any savings.
• 26:00
  [SPEAKER_00]: I'm a creditist this and I'm like, okay, um, like I'm plus to make a unicorn hat about this like it's it's crazy.
• 26:08
  [SPEAKER_01]: You tell them on the phone like you need Jesus first in there.
• 26:10
  [SPEAKER_01]: Come back to us for six months.
• 26:12
  [SPEAKER_00]: Basically I give them a little game plan.
• 26:14
  [SPEAKER_00]: Right.
• 26:14
  [SPEAKER_00]: Yeah.
• 26:15
  [SPEAKER_02]: Yeah, I think that's like why again, why I like we don't think we want to scare anyone away, but like that's why I pre-approved was important.
• 26:19
  [SPEAKER_02]: It's not hurting you for us to actually tell you, hey, yeah, I understand that it program exists.
• 26:25
  [SPEAKER_02]: You don't qualify.
• 26:26
  [SPEAKER_02]: This is what you actually need.
• 26:27
  [SPEAKER_02]: So now like at least you know, you have a goal.
• 26:30
  [SPEAKER_01]: Yeah, I agree because in my process when I was working with Demetrius, I didn't know that you, I didn't really know how pre-approved it was working with that look like so I thought that I could afford less house than I thought, than I actually could based on SS income, auto type of things.
• 26:47
  [SPEAKER_01]: So I think it's definitely important to be able to get those.
• 26:49
  [SPEAKER_01]: pre-approvals like you said it to go through that at least financial forensics of what you're looking at because you don't you don't know what you don't know and then also you may be thinking about to get this half a million dollar house and really you only get get a pre-approved fifty cakes
• 27:05
  [SPEAKER_05]: But I think that's what makes us a lot different than other people like, you know, when you go to a bank or some of these other places, you call in or you go in and they look at you and they say, hey, this is what we can do or we can't do, figure it out.
• 27:17
  [SPEAKER_05]: You know, I think we do a good job of, you know, if we can't get them pre-approved at that time or we can't get them pre-approved for the say, five hundred thousand dollar house, we give them a game plan to say, hey, do X, Y, and Z, and call us in a couple months and you should be able to get you.
• 27:32
  [SPEAKER_05]: But whatever the time frame is to get you to where you want to be.
• 27:35
  [SPEAKER_00]: We definitely understand that especially a lot of people probably in our community might be first time home buyers, period and their family.
• 27:43
  [SPEAKER_00]: So we do kind of hold their hand like, hey, here's a credit repair specialist that we know personally.
• 27:47
  [SPEAKER_00]: We'll follow up with them just making sure that they're on the right game plan.
• 27:51
  [SPEAKER_00]: So we understand folks don't know what they don't know.
• 27:54
  [SPEAKER_00]: And so that's why we're here to educate them.
• 27:56
  [SPEAKER_01]: Absolutely.
• 27:57
  [SPEAKER_01]: How would you say, who would you say is your ideal clientele?
• 28:00
  [SPEAKER_01]: So do you only work with people who are looking to do residential properties, you do commercial, like what would you say is your ideal client for belong?
• 28:08
  [SPEAKER_05]: I would say, I mean, everybody really, but I think our main niche is first time home buyers.
• 28:14
  [SPEAKER_05]: Just because our obviously our age group, everybody's pretty much primarily first, but that's, so I would say that's majority our niche is first time home buyers.
• 28:22
  [SPEAKER_02]: Definitely we're like the passion comes into like to see that person like we've all said that like didn't think they could own a home and like say no, like you can, and this is how I think that's like part of our vision.
• 28:34
  [SPEAKER_02]: So first time on Mars.
• 28:36
  [SPEAKER_01]: And this may be a little remedial, but I know that it could get a little bit deeper in terms of definition.
• 28:41
  [SPEAKER_01]: How do you define the first time home buyer?
• 28:44
  [SPEAKER_00]: Well, technically is someone who hasn't had ownership in the last three years.
• 28:48
  [SPEAKER_00]: So if you haven't had your name on a deed or any properties within the last three years, you're technically a first-time homeowner.
• 28:55
  [SPEAKER_05]: And that's the big thing on the deed, because a lot of people come and say, well, my grandma gave me this house once you passed away.
• 29:01
  [SPEAKER_05]: You're still on home.
• 29:03
  [SPEAKER_05]: I bought this house cash from the limping.
• 29:05
  [SPEAKER_05]: You're still on home.
• 29:06
  [SPEAKER_05]: I never, they think it's just you had a mortgage.
• 29:08
  [SPEAKER_05]: It's the deed of the house shows ownership.
• 29:12
  [SPEAKER_01]: So for you all mentioned that you work with people in order to help them start that home by a process and they should essentially you all should be their first stop or would be a great first stop for the people who need to go through that process to get ready to purchase a home.
• 29:27
  [SPEAKER_01]: What does that look like in terms of that roadmap could you kind of explain a little bit more that to us?
• 29:33
  [SPEAKER_02]: Yeah, so one, it's just an online application.
• 29:36
  [SPEAKER_02]: So you click a link, fill out some basic information, provide some pay subs to detail your employment, get a credit check.
• 29:44
  [SPEAKER_02]: And most importantly, it's free.
• 29:45
  [SPEAKER_02]: I think most people don't realize that you're going to have a license loan officer give you a roadmap to what it would take to own and buy a home.
• 29:53
  [SPEAKER_02]: with fifteen minutes of work online in a computer and then we come back, we put together, hey, this is what it will cost out of pocket, this is what it will cost monthly, this is what you are proof for, here's why, here's what you're not a proof for, here's why and how to get there.
• 30:06
  [SPEAKER_02]: So all that's completely free, which I don't think is talked about enough.
• 30:10
  [SPEAKER_02]: So I will just find a loan off circuit that you trust and start that process.
• 30:14
  [SPEAKER_01]: Now, you know our people and sometimes I can get tricky because people will be like, I don't want people in my business.
• 30:21
  [SPEAKER_01]: I want strangers in my business and you do have to provide some personal information in order to purchase a home and go through that lending process, especially if somebody is giving you hundreds of thousands of dollars in terms of money.
• 30:31
  [SPEAKER_01]: How do you help people?
• 30:33
  [SPEAKER_01]: What would you tell people to get over that mentally?
• 30:36
  [SPEAKER_05]: I always, to be honest, I always make a joke and I kind of bring it back to when you said, how much have you lend somebody that you feel comfortable?
• 30:43
  [SPEAKER_05]: So I always say, like, understand, you don't want people in your business.
• 30:47
  [SPEAKER_05]: But if you were to give somebody, say, two hundred thousand.
• 30:52
  [SPEAKER_05]: Wouldn't you want to see their bank statements?
• 30:55
  [SPEAKER_05]: Wouldn't you want to verify that they actually work?
• 30:57
  [SPEAKER_05]: Where they say they work?
• 30:58
  [SPEAKER_05]: Or to say the hours that they make?
• 31:00
  [SPEAKER_05]: So once you kind of put it on us on them and ask them the question, well, I've noticed the barrier comes down.
• 31:07
  [SPEAKER_05]: They're like, all right, that makes sense.
• 31:10
  [SPEAKER_00]: Yeah, I would definitely agree.
• 31:12
  [SPEAKER_00]: I kind of use that approach as well too, but I also tell them, like, hey, you know, we're just here to kind of deep dive into your story.
• 31:18
  [SPEAKER_00]: And let's just figure out if you're ready to move forward and actually buy a home or not.
• 31:22
  [SPEAKER_00]: If you're not, then I'll give you the world map to get there.
• 31:24
  [SPEAKER_00]: And they usually look, okay, like, there's no big deal.
• 31:26
  [SPEAKER_02]: And I feel like a lot of people, it's always their credit that they're worried about.
• 31:29
  [SPEAKER_02]: Like, oh, yeah.
• 31:29
  [SPEAKER_02]: It's always my credit.
• 31:30
  [SPEAKER_02]: I don't want, but it's like, this is what your credit is for.
• 31:32
  [SPEAKER_02]: Like not all the other stuff that dinged it.
• 31:34
  [SPEAKER_02]: Like, this is what it's for to buy home.
• 31:36
  [SPEAKER_02]: So I always emphasize like,
• 31:39
  [SPEAKER_02]: It's great to build and build your credit and protect it, but now it's time to use it.
• 31:44
  [SPEAKER_02]: This is why you've been protecting it.
• 31:47
  [SPEAKER_02]: We're buying a house now, not a couch.
• 31:49
  [SPEAKER_02]: So I just remind them of what they're doing.
• 31:52
  [SPEAKER_01]: So I got to ask, how did you all meet?
• 31:54
  [SPEAKER_01]: So I know you two work together and have that background, but how did Jaylin come into a fold?
• 32:00
  [SPEAKER_05]: So we all met at United host some mortgage.
• 32:03
  [SPEAKER_05]: So we all three of us worked at United host so much.
• 32:06
  [SPEAKER_00]: Actually, Jaylen and I were in the same exact division, but didn't even talk really.
• 32:10
  [SPEAKER_02]: I think I was like right on the
• 32:16
  [SPEAKER_05]: Yeah, so we're all basically in the same square.
• 32:19
  [SPEAKER_05]: So it was literally fake.
• 32:22
  [SPEAKER_00]: I would have never thought like, yeah, I'm on a business with jail.
• 32:25
  [SPEAKER_00]: I don't, I didn't talk to Dimitris either.
• 32:28
  [SPEAKER_00]: It was just more like, yeah, like I knew them, but it was like, yeah.
• 32:32
  [SPEAKER_05]: I mean, me and Jalen, we played, you know, basketball and stuff like that, and UWM.
• 32:36
  [SPEAKER_01]: He did my first mortgage.
• 32:37
  [SPEAKER_01]: Oh, okay, bet, okay.
• 32:38
  [SPEAKER_01]: All right.
• 32:39
  [SPEAKER_01]: See, look at how, yeah, yeah, I don't work out together.
• 32:44
  [SPEAKER_01]: So in terms of, I know that you all are co-founders of the long, but I know that you also have a team that you work with on day in and day out basis.
• 32:53
  [SPEAKER_01]: What was it like?
• 32:54
  [SPEAKER_01]: So you all got together and put your minds together for this day in the girl, how did you build up the rest of the team?
• 33:00
  [SPEAKER_00]: Oh my goodness, well first of all shout out to our team because our team is really family.
• 33:04
  [SPEAKER_00]: And literally we really like like each other and love each other too.
• 33:09
  [SPEAKER_00]: Like we really are family and we plan on keeping the vibe that way the entire time.
• 33:13
  [SPEAKER_00]: And then a lot of the people on the team honestly we've worked with them in the past, like on the corporate side.
• 33:19
  [SPEAKER_00]: A lot of them are even close friends that's been in the industry.
• 33:23
  [SPEAKER_00]: And so, and of course we've done a little bit of recruiting as well too.
• 33:28
  [SPEAKER_02]: Yeah, I would say like the people that we have like she said are really like that is belonging.
• 33:34
  [SPEAKER_02]: We try a hardest to like push those people because we really think they they drive our business and drive the community involvement more than we do now.
• 33:44
  [SPEAKER_02]: But yeah, I don't think it was super intentional at first.
• 33:46
  [SPEAKER_02]: It was just, you know, fake for a lot of those people.
• 33:49
  [SPEAKER_02]: They immediately saw us.
• 33:50
  [SPEAKER_02]: They're like, that's who I need to be with.
• 33:52
  [SPEAKER_02]: And we're like, you are who we want.
• 33:54
  [SPEAKER_02]: And it's only recently that we're trying to be more intentional about, okay, how do we grow?
• 33:58
  [SPEAKER_02]: Because we have so much opportunity now.
• 34:00
  [SPEAKER_02]: Right.
• 34:01
  [SPEAKER_01]: And so I had, I was telling my wife about this last week, but I had went on the trip to the podcast, something there in Atlanta.
• 34:08
  [SPEAKER_01]: had an interesting interaction with someone who I told them I was from Detroit, born and raised and they were like, oh, I'm sorry to hear that.
• 34:13
  [SPEAKER_01]: And so, you know, thank God, you know, he been working on me over the years.
• 34:17
  [SPEAKER_01]: It's good.
• 34:17
  [SPEAKER_01]: You know, interaction could have been a lot different.
• 34:19
  [SPEAKER_01]: But to that point, I would like for you all to educate folks who may live in the suburbs or move the way and would like to move back.
• 34:28
  [SPEAKER_01]: Why you feel like they should invest in getting some property and or a home in Detroit.
• 34:35
  [SPEAKER_00]: I cannot say this enough.
• 34:38
  [SPEAKER_00]: I've actually have two clients, one in New York, and one that's living in Seattle.
• 34:43
  [SPEAKER_00]: And everybody is looking to purchase an investing Detroit.
• 34:47
  [SPEAKER_00]: Our home values are increasing faster than any other city in the country.
• 34:51
  [SPEAKER_00]: It's actually about thirty percent.
• 34:53
  [SPEAKER_00]: So when you invest in Detroit, you're going to get banged for your buck, opposed to most of these other cities in the rest of the country.
• 35:00
  [SPEAKER_00]: They're appreciating slower and value so.
• 35:04
  [SPEAKER_02]: Yeah, no, for sure.
• 35:05
  [SPEAKER_02]: I think, I mean, I have people, we all have people calling us from, I have people from Amsterdam, LA, Texas, Florida, like while other people are talking negatively about the city, like we're choosing to invest in it because we see the vision.
• 35:20
  [SPEAKER_02]: So, yeah, I think Detroit has so much of value for any potential homeowner.
• 35:28
  [SPEAKER_01]: Speaking of Detroit, we sent the brick and mortar space right now.
• 35:31
  [SPEAKER_01]: So I would love to know, amazing space, by the way, it looks beautiful, you know what I did.
• 35:35
  [SPEAKER_01]: Did your thing with that?
• 35:36
  [SPEAKER_01]: What was the, in the space where the industry as you all work in, I think a lot of people probably take the liberty of being able to be more flexible with their space.
• 35:45
  [SPEAKER_01]: So maybe just have a coworking space or working home and be able to do everything digitally.
• 35:50
  [SPEAKER_01]: Why was it important for you all to be able to have a physical space?
• 35:54
  [SPEAKER_05]: I think it was important for us to have because it's just we we we were in Troy we wanted to be if we felt like if we want to serve the community we wanted to be in the community so we wanted to have a space within the community to be able to come in and people could walk in and come see us so we thought it was important to have a space in the city where anybody could walk in and see what we're got going on here.
• 36:18
  [SPEAKER_01]: I had a nice function for the grand opening, y'all thinking about turning this into a club.
• 36:25
  [SPEAKER_01]: You know, there's some bridges here.
• 36:27
  [SPEAKER_02]: I feel like we get that question so often now, like the people that didn't come are like, man, when are you guys doing that again?
• 36:32
  [SPEAKER_02]: We need that.
• 36:34
  [SPEAKER_05]: But I think our team has been behind our backs.
• 36:38
  [SPEAKER_05]: I don't know what's happening, but I think we kind of hear some things that they're trying to
• 36:42
  [SPEAKER_05]: do something every quarter, but we don't know what they're actually doing.
• 36:47
  [SPEAKER_00]: We wait for the invite.
• 36:50
  [SPEAKER_01]: I mean, when we were setting up, this is not a bad, you know, podcast situations of the long podcast coming.
• 36:55
  [SPEAKER_01]: Sometimes we'll possibly run out to some other podcasts.
• 36:57
  [SPEAKER_00]: That's a good idea.
• 36:58
  [SPEAKER_02]: Yeah, I think we definitely want to create more content.
• 37:03
  [SPEAKER_01]: podcast easiest way to do it.
• 37:04
  [SPEAKER_01]: We can talk offline about that.
• 37:08
  [SPEAKER_01]: So can you tell the people because I forgot to ask this a little bit earlier, but could you tell them what services you all offer and how they might be able to tap in or benefit from those?
• 37:21
  [SPEAKER_02]: Yeah, so first we offer mortgage financing if you're looking to purchase a home.
• 37:26
  [SPEAKER_02]: So initial financing.
• 37:28
  [SPEAKER_02]: And also if you own a home, we help you access your equity, through home equity loans, order refinance your rate.
• 37:34
  [SPEAKER_02]: So if you're looking maybe you're in a seven percent interest rate rates of drop, you want to refinance into a lower payment.
• 37:39
  [SPEAKER_02]: It's also something that we offer.
• 37:41
  [SPEAKER_02]: If you want to contact us, you can go to our website, belonglending.com.
• 37:45
  [SPEAKER_02]: Should be an apply now button.
• 37:46
  [SPEAKER_02]: You can see all of our contact information.
• 37:48
  [SPEAKER_02]: If you, there's a loan asker, you prefer to work with.
• 37:50
  [SPEAKER_02]: You can find us there.
• 37:51
  [SPEAKER_01]: So let me ask you this because both of you had talked about refinancing and so I just recently learned what that was about because I was thinking about refinancing my car and then I had thought well I learned that basically you essentially start the process over again at a different rate preferably a lower rate
• 38:07
  [SPEAKER_01]: How does it benefit someone to refinance a home?
• 38:09
  [SPEAKER_01]: Let's have it living in that house for almost twenty years and I can get a better rate now, but I would have to start my process over.
• 38:16
  [SPEAKER_01]: What does that look like now?
• 38:17
  [SPEAKER_01]: Why would it benefit somebody to refinance?
• 38:19
  [SPEAKER_01]: And when would it benefit someone to refinance?
• 38:24
  [SPEAKER_00]: I feel like it will benefit you of course you want to reach out if it makes sense if you're going to be saving on a monthly basis you know that makes sense or if you want to tap into your equity like Jaylon was saying to pay off maybe your vehicle or to pay off like high interest credit cards it makes sense to refinance and
• 38:42
  [SPEAKER_00]: A lot of people need to understand when you refinance, you don't have to start all over.
• 38:45
  [SPEAKER_00]: You don't have to start all over at a third year.
• 38:47
  [SPEAKER_00]: We can customize and do a twenty nine year, twenty eight year, twenty seven.
• 38:51
  [SPEAKER_00]: However many years you're actually into your mortgage.
• 38:53
  [SPEAKER_00]: So you can save money with that.
• 38:56
  [SPEAKER_00]: Or you can shorten your term, take cash.
• 38:58
  [SPEAKER_00]: I'll, you know, there's several different options to take advantage of.
• 39:01
  [SPEAKER_05]: Yeah, I think we do, well, what I like to tend to do is that even we go to the shorter term, I say you've been in your mortgage for twenty two years or whatever it is.
• 39:10
  [SPEAKER_05]: And we still can put you in that exact term, just learn interest rate and most times if it's able to lower the interest rate enough, your payment's not going to change much, but you're going to save interest over the life of the loan.
• 39:22
  [SPEAKER_05]: So that would be the benefit of that.
• 39:24
  [SPEAKER_01]: got you.
• 39:25
  [SPEAKER_01]: And question for you, what would be based on there's a lot of different programs, resources, even in the city, Detroit.
• 39:32
  [SPEAKER_01]: They have like, uh, I want to say down payment assistant correct me if I'm wrong with that, but they have different resources in case you want to purchase a home.
• 39:39
  [SPEAKER_01]: Do you all have like a playbook or anything that comes to mind as to if I wanted to purchase a home in the day and let's say prejudices good and all that type of stuff and I'm ready to go the cheapest way that I can be at what how can I say if the absolute most money in terms of actually securing that home?
• 39:56
  [SPEAKER_02]: Yeah, one, I mean, shop your options or work with a broker that can shop because lender A might be more expensive than lender B and you're not going to fill out ten applications and get your credit pulled ten times.
• 40:06
  [SPEAKER_02]: So have a broker shop for you and then understand how to qualify for down payment assistance.
• 40:12
  [SPEAKER_02]: So you lender should be educating you on, you know, the income limits, the requirements, some of the basic requirements so that you can get that and then
• 40:23
  [SPEAKER_02]: I would say something that's not talked about enough is just having enough time so that you can use things like seller credit or just the right time in the market to purchase a home where you might be able to get a little bit cheaper, you know, people want to buy in the height of the summer when thousands of people are buying but they might be able to get a deal on a home in November, December and get credits from the seller.
• 40:47
  [SPEAKER_02]: So timing is important and just working with a broker we can shop and find some for you.
• 40:52
  [SPEAKER_05]: I would also say not all down payment assistance is created equal.
• 40:56
  [SPEAKER_05]: So I would focus first on grants because grants are actually money that they're giving you that you don't have to pay back.
• 41:04
  [SPEAKER_05]: A lot of other options are some of the down payment assistance are actually second mortgages.
• 41:09
  [SPEAKER_05]: So they're putting it on a second lien.
• 41:11
  [SPEAKER_05]: So if you were to go, they give you say ten grand and you go to sell the house.
• 41:15
  [SPEAKER_05]: and two years or three years or refinance and two to three years, you have to have enough equity to roll that in or have the money to pay that back.
• 41:22
  [SPEAKER_05]: So I would always try and go grant first and then if you absolutely needed, of course, the down payment assistance is there that, you know, that they put the second lien on the properties.
• 41:32
  [SPEAKER_01]: Any great talk there that I come to mind that are popular or people use a lot.
• 41:37
  [SPEAKER_05]: The big one of the big ones right now is the one percent down.
• 41:39
  [SPEAKER_05]: So you would bring the client would bring one percent, us as the lender would give you the two percent to make up your full three percent down payment.
• 41:49
  [SPEAKER_01]: Gotcha.
• 41:50
  [SPEAKER_01]: Do you all have any success stories or trends that you all have been able to experience this, you have started it belong any clients that stand out in particular in terms of like, you know, we didn't think we might be able to get this deal done, but we figure something out any clients in particular.
• 42:07
  [SPEAKER_00]: Yes, actually it was when the Detroit, twenty five K grant came out.
• 42:14
  [SPEAKER_00]: This client, you know, I couldn't go the traditional route like a thirty year.
• 42:17
  [SPEAKER_00]: We had to convert it to a twenty five year.
• 42:20
  [SPEAKER_00]: And she just had a lot of different things, you know, personally that she was dealing with.
• 42:24
  [SPEAKER_00]: We have the kind of like stall on the closing so she can have the additional funds because she had to repair her vehicle and those sort of things.
• 42:31
  [SPEAKER_00]: So it was so nice that we were able to take advantage of the grant.
• 42:35
  [SPEAKER_00]: and also just kind of like stick it out.
• 42:37
  [SPEAKER_00]: Like we had to extend the clothes and but she's a homeowner, she purchased the home and Detroit and she cried and just felt so good to actually help her, you know.
• 42:47
  [SPEAKER_02]: Yeah, I think we all got stories like that because again, like
• 42:50
  [SPEAKER_02]: We've, I've went to clients' house to pick up tax returns, had people come in, like, just went to the extra mile for people, but I think I often see people getting taken advantage of for the rent right now.
• 43:04
  [SPEAKER_02]: And, you know, I was recently able to help like a mother daughter duo who were both
• 43:09
  [SPEAKER_02]: upwards of fifty years old who had never owned a home, purchased a home that they were living in, and they were so mind-blown that their mortgage payment was cheaper than their rent, that they cried at closing.
• 43:19
  [SPEAKER_02]: So just stories like that of making sure people understand the value of ownership and the cost of ownership.
• 43:26
  [SPEAKER_05]: Yeah, I was going to say the most recent one that I had was a guy that had never, nobody in his family owned a home and he was so nervous that he wasn't going to be able to afford it or even buy one.
• 43:38
  [SPEAKER_05]: And he called me the first time we weren't able to do it because the credit issues and stuff.
• 43:43
  [SPEAKER_05]: I gave him the game plan.
• 43:44
  [SPEAKER_05]: And I think six to eight months later, he came back, did everything that I told him.
• 43:49
  [SPEAKER_05]: And we closed in like a couple weeks and he was brought to tears because he had
• 43:54
  [SPEAKER_05]: He was just wife had just passed and, you know, he had three kids and they eventually bought a house in Detroit and it was good.
• 44:03
  [SPEAKER_05]: I mean, I never, it was weird to watch another grown man cry, but it was, it was a cool feeling.
• 44:09
  [SPEAKER_01]: So we're talking about all the triumphs that you all have been able to have and what the market looks like and what people tactics people can take advantage of in terms of purchasing their homes.
• 44:20
  [SPEAKER_01]: What do you see in your crystal ball for the forecast of the market for belong for Detroit and any part in words that you want to give people just from your thoughts and your perspective of what might be on the horizon.
• 44:34
  [SPEAKER_01]: or what would you like to put out there and see come back?
• 44:37
  [SPEAKER_01]: Like what's the big picture for belonging and what you all want to do?
• 44:43
  [SPEAKER_02]: So I mean just thinking about Detroit in general, I would say there's still so much room for growth in the city.
• 44:49
  [SPEAKER_02]: That's why people still have so much to say about it.
• 44:52
  [SPEAKER_02]: So if you live in the city and you know the neighborhood you're around, think as someone
• 44:59
  [SPEAKER_02]: who has enough foresight to see where your neighborhood's going so that you as son who's been from the city and live in the city can be a part of that growth because I don't see Detroit slowing down like I think you all you got to do is turn on the news and see all the new businesses and new developments that are coming there's a lot of big plans for the city so I would just make sure that you stay invested in for belong I mean we we've got so much in terms of vision for our growth that
• 45:25
  [SPEAKER_02]: We just want to do what we can to make sure that we're in front of as many potential home buyers as possible so that we can help them.
• 45:32
  [SPEAKER_00]: Yeah, I would say especially for Detroit, it's almost like invest now before it's too late.
• 45:38
  [SPEAKER_00]: I remember maybe just five, ten years ago folks were like buy downtown, but now if you try to get a condo downtown, it's like four hundred thousand in proper taxes, you know, our ups and you kind of miss that wagon, but you can still kind of jump on the train now and take advantage of places where it's still feasible.
• 45:54
  [SPEAKER_00]: So invest right now and then as far as belong in the future, I feel like we're gonna grow and have branches
• 46:00
  [SPEAKER_00]: It's more branches maybe here in Michigan, more in Texas and hopefully in other states as well too.
• 46:07
  [SPEAKER_05]: Yeah, I mean, Detroit's a beautiful city.
• 46:09
  [SPEAKER_05]: There's a lot happening.
• 46:11
  [SPEAKER_05]: And I would like to say the best time is now, because you, like I even think about it back in, in the twenty fourteen, I had the opportunity to buy one of the condos across the street from
• 46:23
  [SPEAKER_05]: little season's now little season's arena and I got talked talked out of it for eighty thousand and my buddy that actually ended up buying it he sold it for almost six hundred thousand like earlier this year so um invest in the truth I mean it's it's the place to be right now um and and like they've kind of piggybacked they said I see belong growing into other states um other branches in Michigan and yeah
• 46:48
  [SPEAKER_01]: who talked you out of the word those people out of that person that today we we need to go how let them they're still in my life if you're in housing long enough you find you'll get called like damn I should have bought that yeah especially during covid there was so much opportunity yeah yeah that's that's a whole another sermon for another day i'm sure
• 47:14
  [SPEAKER_01]: Well, I appreciate you all for inviting us to the space and I love the mission driven work that you have behind belong and definitely encourage the folks that's listening and watching it to make sure that they tap in which are also appreciate everything that you're doing and grateful to have y'all on the show today.
• 47:29
  [SPEAKER_01]: Everybody watching the listening, we're going to tap in which are some peace.