This episode focuses on the tips and advice to follow when purchasing your first home. I had the pleasure to speak with my own realtor, Donna Mungin, an associate broker and licensed real estate instructor who not only helps young millennials buy their first homes, but she also trains those who are looking to become realtors in their own right. She touched on what it means to have a relationship with your realtor when it comes to knowing what you want in your new/next home. She spoke about how a start-up home is the way to go to establish yourself as a responsible mortgage payer as well as how how important it is to sustain an affordable mortgage to help boost your credit score to be in good financial standing with paying on time and how the benefits of tax break incentives. We touched on the silver linings to take advantage of during this pandemic whether it be the low interest rates for either a conventional, FHA, or VA home loan, and the tax breaks you'll receive with being a home owner.

Too many times in the black community, we've been discouraged to not become home owners because of the financial responsibilities it comes with. Being told that you have to make and have a certain amount of money in order to put down on a new house. For too long, we have been told that there's no difference between paying rent and paying a mortgage when in fact, that has been a terrible misnomer that has been spreading throughout our black community.

Being told to allow the property owners themselves take care of the maintenance while we just pay to rent a unit. Donna spoke firmly about what it means to have realistic expectations, which consists of not looking for a home to have 100% of everything you want in a house, especially if you don't come from money vs taking a house that has 80% of what you want and you taking the remaining 20% to make it your own.

Buying a house is the biggest investment you will ever make in your life and it is the biggest assets you can have to help build that generational wealth that you can leave behind for generations on in. Whether they live in the homes themselves or you increase the value of the home to sell it more than much more than what you paid for it. It was an honor and privilege to have Donna on the show to discuss this topic.