September 2018 Mortgage

September 2018

Easy ways to save

for a down payment

Eyal Tropen

also featured:

Tony Lentini

Bank on it —

Home improvements that add value

contents

professionals 6

Dollars & sense — Maintaining a budget on commission

11

Take the lead — Strategies for everyday lead generation

­Featured­Agent­Magazine Phone­888.437.5707 Fax­888.849.3663 contact@featuredagentmagazine.com www.featuredagentmagazine.com 2

Copyright Featured Agent Magazine

Copyright Featured Agent Magazine

t featured cover mortgage pro

7

Eyal Tropen q featured mortgage pro

Tony Lentini

13

buyers&sellers 4

14

Bank on it — Home improvements that add value Easy ways to save for a down payment

Copyright Featured Agent Magazine

Materials­and­content­included­in­Featured­Agent Magazine­and­on­featuredagentmagazine.com­are subject­to­copyright­and­may­not­be­copied­or­reproduced­in­any­part­without­prior­written­consent.

Featured­Agent­Magazine­is­published­by­Times­3 Publishing­Group,­LLC.­Publisher­shall­not­be­liable for­any­inaccuracy,­error,­or­omission­and­makes­no representations­or­warranties­of­any­kind,­express­or implied, as­to­the­information, content,­or­materials included.­

3

Bank on it —

Home improvements that add value

There comes a time in every homeowner’s life when home improvement projects take center stage. Whether you’re preparing to put your home on the market, or simply want to spruce it up and make some upgrades for your own enjoyment, there are several improvements that give you a great return on your investment.

Here are the improvements that always add to a home’s value.

Back to Basics — It may not be as sexy as say, adding a steam shower (more on that later), but when considering home improvements, it’s always best to start

4

with basic care and maintenance. Repairing or replacing worn plumbing, leaky windows, and faded, ill-fitting exterior doors are great places to start. Consider adding extra insulation and upgrading your HVAC system to keep your home more comfortable and energy efficient.

Hunt for cracks and leaks in the foundation and have them repaired. Basically, if it’s involved with the structural integrity of the home, it needs to be inspected and fixed (if necessary) before starting any other projects.

Doing so not only helps your home maintain its value, it catches small problems before they have a chance to turn into expensive emergency repairs.

Copyright Featured Agent Magazine

Take it Outside — Once you have the basics covered inside, it’s time to do the same outside. Trim trees and hedges, get your lawn looking green and lush and plant flowers to add color. Be sure there are no tree roots heading for the pipes or overgrown limbs interfering with gutters or drainage. Conversely, if your front or back yard is looking too plain, add plants, trees, ground cover or decorative rocks. No one wants to look at a yard that’s little more than dirt, especially if you’re in the process of trying to sell.

Open Up Space — Whether your family is growing or you’d just like a little more breathing room, creating more space is one of the most meaningful home improvements you can make. The sale price of a home can increase up to 30% for every 1,000 square feet of space added, making it easily worth the investment. If you’re not up for the process or expense of doing an actual addition, strategically removing existing walls can create the illusion of more room and give you much more workable living space.

Create a Beautiful Bathroom — There was a time when a whirlpool tub was considered the height of home bathroom luxury, but those days are long gone. Today’s busy, stressed out homeowners want maximum relaxation with minimal time and effort.

Replacing your seldom-used bathtub with a spacious walk-in shower is an unbeatable upgrade that will always add value, not to mention aesthetic appeal. Extra points if it’s a floor-to-ceiling steam shower for the ultimate spa-like experience.

Cook Up an Island — Ditch the breakfast nook or high-top bar counter and elevate your kitchen by adding an island. It will bring in extra storage and much-needed counter space, not to mention being the stuff Instagram envy is made of. If a built-in island isn’t in the cards, there are many stylish moveable kitchen islands that can give you the same look and functionality at a fraction of the cost. If you’re not sure an island is the way to go, a portable island can help you decide if you want to follow through with building a permanent one.

Look Under Your Feet — Flooring is an often Copyright Featured Agent Magazine

Upgrades under $100 If you don’t have the time, money, or energy to undertake a major project, these easy upgrades can give your home a fresh new look and feel.

Install Dimmer Switches — Lighting is one of the easiest ways to enhance a room. Installing dimmer switches yields great benefits, including energy savings.

Add Color — It really can’t be said enough.

Nothing changes the feel of a room faster than painting a wall in a dramatic accent color.

Hang Shelves — Whether used for storage, accent décor or a combination of both, adding wall shelves is an easy weekend project.

overlooked aspect of your home that can either detract or add value, depending on what state it’s in. If your tile, hardwood, or bamboo floors are still structurally sound but looking a little worse for wear, have them thoroughly cleaned and polished. If your place is still bogged down in wall-to-wall carpet, it’s definitely time to start doing something about it. If you can’t afford to go all out and replace every room with new flooring, start with largest living area and work your way through the rest of the house.

Get Green — Adding green home features, such as solar panels, super-efficient HVAC systems, or lowflow plumbing instantly increase your home’s value.

Many prospective homeowners are looking for green homes and won’t even consider listings that don’t have at least a few green features. Plus, it won’t take long to reap a return on your investment when you see how much you save on utilities.

These are just a few of the upgrades that can add value and beauty to your home. When choosing what home improvements to pursue, adding value is important, but what’s even more important is that the change you make adds to the love and enjoyment of your home.

5

Dollars & sense —

Maintaining a budget on commission

Most mortgage professional agree, one of their favorite aspects of their career is not having a ceiling on their income potential. However, because mortgage lending is not a traditional job with a predictable paycheck every two weeks, it is important to plan accordingly.

Here are several tips to help mortgage professionals avoid being cash-strapped during slow periods.

Determine your baseline — Total up all your monthly bills and living expenses so you know exactly how much money will be going out every month.

This way you’ll know the minimum you need to make or save to carry over from the previous month to cover the basics.

Start saving for emergencies — Having a cash cushion to fall back on will give you peace of mind.

Start depositing a portion of every commission into an accessible (but not too accessible) savings account reserved exclusively for true emergencies, such as major medical bills, home repairs, or a long lull between commissions. Having emergency funds in place will help you avoid turning to credit cards if you face a tough month.

Plan ahead for expenses — Be sure your monthly budget allows for all types of expenses: fixed, variable and periodic. Fixed expenses are the ones you can count on month after month, such as rent and your car payments. Variable expenses may also occur monthly, but they will be different each time; think utilities and groceries. Periodic expenses are the 6

ones that only happen once or a few times a year, such as car registration, property taxes or purchasing birthday and holiday gifts. Place these on the calendar and start saving for them in advance so you’re not caught off guard when they inevitably come up.

Avoid relying on credit — When you’re waiting for that big commission to come in, it’s tempting to charge up your credit cards with the intention of paying them off once you get the funds. But a lot can happen between now and then. If you end up with credit card bills you can’t pay off right away, you will be accruing interest charges and always chasing that next big payday to try to catch up. Keep credit card use to a minimum and if you do use them, have a plan in place to pay them off quickly.

Keep expenses and spending in check — When commissions are rolling in regularly, it’s tempting to overspend. But remember, the market depends on a number of factors, many of which are outside your control. If you spend every last penny of each commission, you’re setting yourself up for financial hardship down the road. Go ahead and treat yourself now and then, but be sure you’re saving with an eye on the future.

Budgeting for an unpredictable income can sometimes be challenging, but it’s worth it when you consider the many incredible benefits of a career in lending. With some planning and care, you will be able to enjoy the good times and sail through the challenging ones.

Copyright Featured Agent Magazine

Eyal Tropen

Eyal Tropen After earning degrees in Physics and Industrial Engineering, Eyal Tropen spent the next 18 years of his career as a successful project manager, coordinating the ins and outs of high-tech ventures at a senior level. While his work was challenging, he longed for the opportunity to make a more direct impact serving others in his community. Then, he and his wife began the process of acquiring a short-sale home, a complex transaction that took eight months and ended unsuccessfully. Though he was disappointed by the outcome, Eyal had enjoyed learning the strategies and inner workings of the mortgage industry from his own lender, and considered making the career switch as a way of helping others on the path to homeownership.

8

The next step was convincing his wife. But one morning over breakfast, she suggested the very same thing, encouraging Eyal to explore the industry and parlay his distinguished skillset. That was six years ago, and since then, Eyal has established a dependable reputation as an originator who thinks outside the box, creates lasting relationships, and delivers on his professional promises every step of the way.

While primarily serving Western Washington and the Greater Seattle region, Eyal is also licensed in Oregon, California, and Texas. To maintain such a broad sphere of business, Eyal cultivates relationships with agents in multiple states. He also helps investors in Washington make new connections in Copyright Featured Agent Magazine

“Many of my clients are fully underwritten and pre-approved before they go shopping for a home, which means they can sometimes wave the financing contingency and increase the chances of their offer being accepted, even competing with cash or higher offers.” developing out-of-state investments, and ushers transplants to the Washington area. His loan offerings run the gamut, and his company’s Keys on Time program often ensures a 21-day or less turnaround for clients. “As a former Sr. Project Manager, I regard every transaction as a project,” Eyal says.

“There’s a start date, a deadline — the close of escrow — along with many milestones to be hit, and stakeholders to communicate with. Many of my clients are fully underwritten and pre-approved before they go shopping for a home, which means they can sometimes wave the financing contingency and increase the chances of their offer being accepted, even competing with cash or higher offers.” In fact, Eyal’s dependable and timely preapproval process allowed one client to edge out another offer $29,000 higher — a personal record for Eyal. Another attractive program that Eyal offers helps potential sellers obtain a pre-approval first, and only list their departing residence after finding their next home.

“In Seattle’s competitive market, this program works to the seller’s advantage,” he says. “Taking these steps utilizing the pre-approval process, makes offers viable in a competitive market, even if a sale contingency is required.”

my control, and some things beyond my control.

But no matter what, I communicate clearly and completely. I deliver information, sometimes with brutal honesty, staying transparent whether the news is good or bad. If a challenge arises, it’s important to find a win-win for all parties.”

To strengthen his relationships with his referral partners, Eyal tries to make his value proposition clear and worthwhile, connecting with people on a personal level. “One of the most important aspects

At the core of Eyal’s business success is a mind geared to creative problem-solving. Though this particular skill may stem from his experience in engineering and project management, Eyal’s commitment to interpersonal relationships is just as important to his business model. “I cater to my clients’ attention and intention,” Eyal says. “I exercise good judgment and make honorable choices — not making it about me, but making it about the needs and priorities of my clients. Of course, there are some things within Copyright Featured Agent Magazine

9

of what I do, is my relationships with real estate agents,” he says. “It’s my goal to enhance their business, and give them a true reason to have a relationship with me and work with me.” What’s more, Eyal never loses sight of the people at the heart of every transaction. “I’m able to help people who really deserve it — like single moms, veterans, or people whose lives aren’t cookie-cutter,” he reflects. “Sometimes those with unconventional cases find it hard to work with lenders who don’t understand their circumstances. It’s my job to understand their true needs and find solutions that work specifically for them. That’s what I enjoy most about what I do.”

To give back to his community, Eyal is a member of the Kirkland Chamber of Commerce, Bellevue Connections, Master Builders Association, and other local and community groups. He also spends time with the Israeli Scouts and Chabad Synagogues. In

Eyal Tropen American Pacific Mortgage

his free hours, Eyal most enjoys spending time with his wife and two children. His daughter just completed her service as a Sergeant in the Israeli Air Force and is finishing her first year in college. His son just graduated high school, and was the president of his school’s robotics club. He and his team competed in the last VEX Robotics world championship, as well as in the MATE International Underwater ROV Championship. Eyal also enjoys hiking, scuba diving, a good meal, and a good book.

Looking ahead, Eyal has plans to continue growing his business, and recently brought on an assistant as he increases his volume. He hopes to continue building a team in the next year or so, while maintaining the high-level service his clientele has come to expect. Now, with six exceptional years behind him and an abiding spirit of service, the future seems bright with promise for Eyal Tropen.

NMLS # 874253

NMLS # 1850/1055557

| 625 4th Avenue, Kirkland, WA 98033

425.922.1055 | eyal.tropen@apmortgage.com | https://mortgage.tropens.com 10 Licensed in CA, OR, TX and WA

Copyright Featured Agent Magazine

Take the lead —

Strategies for everyday lead generation Generating new leads that will eventually become clients is one of the most important things mortgage professionals can do to succeed. But lead generation often ends up taking a back seat to the million other things lenders are responsible for. The key is to turn lead generation into one of those daily responsibilities so that it eventually becomes an automatic part of what you do every day. Check out these smart ways to generate leads: Develop a Network of Service Providers — Creating alliances with like-minded service professionals is an excellent way to increase your sphere of influence. Form relationships with REALTORS,® real estate attorneys, appraisers, home inspectors, contractors and even other mortgage professionals. Having an established network of industry peers allows you Copyright Featured Agent Magazine

to be a resource to your clients by referring them to vendors you know and trust, and those vendors will return the favor by sending prospective clients to you.

Be Strategic with Social Media — It’s not just for Millennials anymore. If you’re not active on social media, you are missing the opportunity to make meaningful connections with potential clients. It’s not enough to just create a Twitter, Facebook or LinkedIn profile. You actually have to use them to your advantage. Be sure you are connected to everyone in your network, and spend time each day liking and sharing relevant content, such as new real estate listings, personal achievements and photos from events. On LinkedIn, be sure you’re endorsing other pros; every time you do, they get an email that lets them know you did so, which keeps you top of mind.

11

Lead generation often ends up taking a back seat to the million other things lenders are responsible for. The key is to turn lead generation into one of those daily responsibilities so that it eventually becomes an automatic part of what you do every day.

Become a Presence in the Community — Making a name for yourself as someone the community can count on is a time-tested way to generate new business. If you already have a cause that is near and dear to your heart, make it your mission to become even more involved through volunteer work and donations. If you don’t currently have a cause you’re passionate about, ask around to find out which local organizations are most in need of help. Volunteering gives you the chance to connect with a wide range of community members in a meaningful way, and you’ll become known for being a good person as well as a great industry professional — and that’s a winning combination!

Change Your Routine — We all have our daily routines, but getting stuck in a rut means you’re limiting your exposure to new people. If you drive through the same Starbuck’s every morning, take the time to park and go inside instead to chat with folks in line or better yet, try a different coffee shop altogether. Instead of having lunch delivered, go out to grab a bite and talk to other diners. Do your grocery shopping for the week at a different store in a new part of town. Whatever you choose, make an effort to get out of your comfort zone, meet new people and talk about your business. “What do you do for a living,” is usually one of the first things people ask, so it will be a natural transition to telling others about the outstanding service you provide.

Support Other Local Businesses — It always makes sense to support small businesses in your community. Whenever possible, make the choice to support a local vendor, rather than a large national chain, and get to know the business owners. Strike up a conversation

12

about the local market and all the things that make your area unique. Be sure to become a member of your local Chamber of Commerce to take advantage of everything they offer. Becoming involved in the local business community will further raise your profile and help you become a trusted, recognized name that people are happy to recommend.

Lead generation doesn’t have to be complicated, but it does have to be consistent. Employing one or more of these strategies will make generating leads a natural part of your daily activities and help your business grow.

Don’t miss these lead generation opportunities • Become involved in local government or business organizations.

• Alter your routine to create opportunities to meet new people.

• Regularly remind your sphere of influence that you welcome new clients.

• Patronize local businesses and encourage others to do the same.

• Don’t assume clients will refer; ask every client to share your name.

Copyright Featured Agent Magazine

featuredagent Tony Lentini magazine

From the moment Tony Lentini, Branch Partner of New America Financial in Central Pennsylvania begins to speak, it becomes clear that his mortgage lending experience is vast. His confidence is reassuring, but far from arrogant. Instead, Tony speaks easily and expertly about the process of real estate financing, making it far less intimidating than it may seem — particularly for first-time homebuyers.

His calming confidence is due in large part to Tony’s 25+ years in the field of mortgage financing. Beginning his finance career immediately after graduating from college, Tony earned a name for himself as an honest, transparent, and incredibly knowledgeable financial professional from the get-go. After roughly six years of assisting others with a myriad of financial products, he made the decision to focus his exclusive talents on working with homeowners and homebuyers.

Those who choose Tony as their mortgage professional soon find that his ample expertise is only the beginning of the benefits they receive from working with him. “I’m passionate, dedicated and caring,” Tony says humbly.

“There are a lot of people who enter this business because it can be very financially rewarding. Many of those who entered the industry for the sole purpose of financial gain were washed out when the recession hit. I’ve never strayed from this career. For me, the drive has always been to take care of people. When I receive an email from a client, or a testimonial that says, ‘Tony worked tirelessly for me,’ or ‘Tony changed my family’s life,’ that’s a feeling I strive for. It is so much more rewarding than a paycheck,” he says. Moreover, he says, “I’ve found that if your goal is always to do the right thing for your clients, the money will follow.”

Not surprisingly, Tony’s clients are quick to rave about his professionalism, due to his unwillingness to sugarcoat, or postpone delivering vital information, even when it isn’t great news. His commitment to immediate and

transparent communication is a result he says, of one of the REALTORS® he works with. “He’s a top-producing RE/MAX agent and primary referral partner. He has always told me, ‘I can handle bad news. All I want is for you to communicate effectively and quickly. Don’t keep delays or problems from me. We can deal with whatever it is, but I want to know about it as soon as you know about it.’ I abide by that same principle when dealing with every client, whether they are first-time buyers, or seasoned buyers,” Tony says.

However, again thanks to his longevity in the mortgage profession, Tony is proactive about preventing problems or stressful situations from arising in the first place. “I don’t hand out prequalification letters like they are Halloween candy. I don’t make promises that I can’t keep, or attempt to earn business with a prequalification unless I’m certain I can get their loan closed for them. It is my goal to have everyone who works with me walk away from the experience knowing that I have integrity, that I am honest, and that they were treated with respect and fairness,” he says sincerely.

Tony also makes sure that every single client that works with him and his team know how much they are valued.

“A simple thank you goes a long way. We want our clients to feel valued and appreciated, because they are — we really do value their business.”

Clearly, Tony’s dedication to helping others achieve the American dream of homeownership — or to help homeowners meet their financial goals through smart refinancing decisions — is well-documented. After all, it has made him a Top Producer in the country for several years in a row.

So where does he hope to take his business from here?

Ever humble, he says, “My office is small potatoes — I am not a big office or trying to be a large national company, but I do think that I’m close to growing my team a bit bigger again, after years of staying intentionally on the smaller side. I am interested in considering expanding into other states. I just don’t want to lose the opportunity to continue to offer the service my clients have become accustomed to. Working one-on-one with clients is really what I love about what I do.”

Tony Lentini Branch Partner | NMLS #144594 | Harrisburg, PA 717.412.1712 | tlentini@newamericafinancial.com | www.newamericafinancial.com/tonylentini/ Copyright Featured Agent Magazine

13

Easy ways to save for a down payment Saving for a down payment is one of the most exciting, important financial moves you’ll ever make.

It can also be scary and intimidating to imagine how you’re going to be able to save the recommended 20% down. But never fear! There are many ways to save for a down payment that are easier than you think — and some you might never have even considered. Here are five easy ways to save for a down payment on a home: Cut Out All Non-Essential Spending — Any

14

unplanned purchase of $30 or more is considered an impulse buy. If you have even a few of those a week, they can really add up! Now is not the time to be picking up the happy hour tab for your crew or splurging on a new cell phone. Plan a budget that covers the essentials and your bills, and save everything that’s left over toward your down payment.

Find Cheap or Free Alternatives — When you’re saving to buy a home, every penny counts. Take a hard

Copyright Featured Agent Magazine

The most important thing to remember when saving for your down payment is not to get discouraged. It will take some time, but it will be worth all the effort when you can proudly call yourself a homeowner.

Save All Found Money — Put every penny of overtime pay, bonuses, tax refunds, and pay increases into your down payment fund. It’s always tempting to spend found money, but the rewards of a spending spree will be fleeting, while the ultimate reward of saving for home ownership can be life-changing.

Make Gifts Count — If you feel comfortable doing so, tell family and friends that you are in the process of saving for a down payment and that instead of birthday or holiday gifts, you would love for them to contribute to your savings. If the direct appeal isn’t your style, you can still make gifts count toward your goal. Let people know you’d like ‘practical’ gift cards good for things such as gas and groceries. When you use the gift cards to pay for those items, place the equivalent amount of cash into your down payment fund.

look at where your money is going and see where you can cut back. Instead of cable or satellite, opt for a basic Netflix or Hulu package. Nix the gym or Soul Cycle membership and work out to online fitness videos at home. Skip the daily Starbucks run and make your own coffee; same with bottled water — use a glass or stainless bottle and fill it with filtered tap water. You’ll be amazed at how much you’re spending on so-called necessities and how much more quickly your down payment fund will grow when you funnel that money into it.

Copyright Featured Agent Magazine

Find Ways to Earn Extra Money — Whether it’s a matter of holding a yard sale, selling your extra stuff online, freelancing, or getting a part-time job, look for every opportunity to bring in extra cash.

There’s no such thing as working too hard when owning a home is your goal. Plus, the more time you spend working, the less time you’ll have to be tempted to spend your hard-earned cash.

The most important thing to remember when saving for your down payment is not to get discouraged. It will take some time, but it will be worth all the effort when you can proudly call yourself a homeowner.

15

featuredagent

magazine

Featured Agent Magazine is a valuable resource for both real estate clients and professionals alike. tu

Home buyers and sellers

Let us introduce you to real estate professionals ready to assist with your next transaction. Moving can be stressful! We hope to educate and inform you about the process and share tips and insight on how to make the experience smooth and enjoyable. tu

Agents and real estate professionals

Take advantage of the opportunity to share, network and be seen. Along the way, pick up tips and ideas to help grow your business, increase motivation and achieve your goals.

Visit our website for more information and to find out how to recommend a professional to be featured, advertise or subscribe.

www.featuredagentmagazine.com contact@featuredagentmagazine.com 888.437.5707