Podcast
The Residual Real Estate Agent Show
Hosted by Jose Luiz Morales · EN
My name is Jose Luiz Morales. I am 33 year old real estate agent & investor from Ventura, CA. I have been in the Real Estate Industry for the past 10 years. CEO of The Morales Group. My team & I have sold 500 properties & over 300 million in sales. Currently have a 10 million dollar real estate portfolio. My parents taught me from an early age to be an entrepreneur & to make smart investments. Entrepreneur from the age of 9. Father of Jose Luiz Jr, I consider myself a Family Man. Real Estate & Business Mentor/Educator. The purpose of this podcast is to educate & inspire young entrepreneurs and business owners by discussing current topics related to Real Estate, Finance & Business.
11episodes
Episodes
Newest firstAll episodes
Non-Warrantable HOA Condo Financing Explained
1w ago00:19:22Tap to summarizeYour condo deal didn't fall apart because of the buyer. It fell apart because of a non-warrantable HOA nobody caught until escrow was already open.I've seen this happen more times than I can count. A buyer is qualified, the seller is motivated, and then the lender calls with news that stops everything. The HOA is flagged. The conventional loan is gone. And nobody on either side of the transaction knew it was coming.In this episode of The Morales Group Podcast, I sit down with condo financing specialist Michael Yates to break down exactly what a non-warrantable HOA means for your deal and what you can actually do about it.✅ What triggers non-warrantable condo financing status, from litigation and low reserves to short-term rentals and insurance gaps✅ The difference between warrantable vs non-warrantable condo classification and what loan products are available for each✅ Why an HOA non warrantable designation does NOT mean the deal is dead, and how to find lenders who specialize in these situations✅ Down payment reality: non-warrantable condo mortgage options starting at 10% down, and what 20% down actually gets you on rate✅ How to use the HOA certificate mortgage review process to catch red flags before you ever open escrow✅ What HOA litigation financing looks like in practice and when it's a dealbreaker versus a minor hurdle✅ Why big banks won't touch these loans and why a non-QM condo loan through a mortgage broker is often your only real path✅ The due diligence steps every listing agent and buyer should take now, especially for condo financing in California where insurance and SB 326 compliance are creating new headachesIf you are selling, buying, or representing someone in a condo transaction right now, this one is worth your time. It is not a death sentence. There is a path forward. You just need to know where to look.
Transcribe →How FHA Streamline Refinance Works: No Appraisal Needed
2w ago00:15:05Tap to summarizeIf you have an FHA refinance without income proof on your mind, chances are your situation has changed since you first got your loan and you are not sure if that kills your options.It does not. Here is what most people never find out.The FHA streamline refinance is one of the most misunderstood programs available to homeowners right now. Most people assume that when rates drop, they have to go through the full paperwork process all over again, W-2s, tax returns, a brand new appraisal. That assumption is costing people real money every single month they sit on it.In this episode, a licensed mortgage lender breaks down exactly how the FHA streamline refinance no appraisal process works, who qualifies, and what the program actually requires versus what people think it requires.✅ Why FHA refinance no tax returns is a real feature of this program and not a loophole✅ The employment rule that surprises most borrowers, your income amount is not what they are checking✅ How the FHA streamline refinance no income verification process compares to a traditional refinance on documents alone✅ What the net tangible benefit rule means and why your rate needs to drop by at least 0.5% to qualify✅ The 210-day seasoning rule and what the six-month guideline your lender told you actually protects✅ FHA streamline refinance requirements broken down simply so you know before you call anyone✅ When it makes more sense to do a rate and term refinance instead and how to refinance your FHA loan with full docs if your home has held its value✅ The real cost of waiting, and why people who held out for a slightly better rate ended up losing $500 a month for over a yearIf you have been sitting on a higher rate because you were not sure you would qualify, this one is worth watching before rates move again.
Transcribe →Assisted Living in Tijuana for $4,000 vs $25,000 in CA
3w ago00:30:30Tap to summarizeAssisted living in Tijuana is giving California families something they stopped believing was possible: real care at a price that doesn't wipe out everything they have.If you've been quoted $10,000, $15,000, even $25,000 a month for a facility in California and felt that sick feeling in your stomach, this episode is for you. Because the option I'm about to show you is 20 minutes across the border, staffed by certified nursing assistants, and costs a fraction of what you're being asked to pay right now.I sat down with the team at Manos Amorosas, a professional senior care facility in Tijuana, and what they shared completely changed how I think about this.Here's what we covered:✅ Real pricing for assisted living in Tijuana, from shared rooms starting around $1,400 to full private care up to $4,000 a month, all-inclusive✅ How senior care in Tijuana compares to California, and why families say the quality is actually better, not worse✅ The staff-to-patient ratio that California facilities almost never offer (1 nurse for every 4 patients)✅ What happens in a medical emergency, including how staff will ride across the border with your loved one and wait at the US hospital until you arrive✅ Why affordable assisted living alternatives like this are becoming a real solution for families on a fixed income✅ How in-home senior care in Mexico works if your parent buys a home there instead of using a facility✅ Transportation, visitation, medication management, diet plans, and daily activities, all covered✅ Why assisted living cost in California is pushing families to look south, and what they find when they doIf your parent needs care and you feel like you're out of options, this conversation might be exactly what you needed to hear. There is a solution. It's closer than you think.
Transcribe →VA IRRRL Explained: No Appraisal, No Income Docs
4w ago00:09:33Tap to summarizeMost veterans with a VA loan are getting three to four mailers a day from lenders, and almost none of them mention the VA IRRRL explained simply and honestly.If you have an existing VA loan and rates have dropped since you closed, you may already qualify to lower your payment without a new appraisal, without income documentation, and without starting the mortgage process from scratch. The problem is most veterans don't know this program exists, and the ones who do are getting misled by online lenders hiding fees in the fine print.In this episode, mortgage expert Michael Yates from My Home Lending breaks down everything you need to know about the VA Interest Rate Reduction Refinance Loan, also called the VA IRRRL or VA streamline refinance, including:✅ Why the VA streamline refinance process requires no appraisal and no income verification✅ Exactly what documents you actually need to get started✅ How the VA IRRRL funding fee works and why disabled veterans may pay zero✅ The VA's net tangible benefit requirement and what it means for your savings✅ Why veterans using this program can skip two mortgage payments at closing✅ The VA IRRRL eligibility requirements including loan seasoning rules✅ The biggest mistakes veterans make when evaluating their veterans mortgage refinance options✅ How to spot predatory mailers and why working with a trusted referral protects youThis is one of the most underused VA loan benefits for veterans available right now. If you have a VA loan and a higher rate, watch this before you call anyone.
Transcribe →How to Develop Multifamily Real Estate From the Ground Up
Jun 1400:55:16Tap to summarizeMost people looking at multifamily development for beginners content think the hard part is construction. It's not. The hard part is the decision you make before you ever touch a shovel.I brought in Daniel Clayman from Evolved Development, a guy who just closed on land at $11,000 per unit when most developers won't touch dirt over $25K, and we broke down exactly what separates a ground up multifamily development that builds real long-term wealth from one that quietly bleeds you out before you ever break ground.Here is what we cover:✅ Build or buy: which one actually pencils out and why renovating an old apartment building can leave you with the worst of both worlds✅ The land acquisition multifamily rule of thumb that most beginners skip, and why overpaying for dirt kills deals that look fine on paper✅ How the land entitlement process works in the real world, what a buy-right project actually means, and how to structure contracts that protect you when rezoning goes sideways✅ The real construction cost per square foot multifamily numbers from a market that is not California, and what triggers commercial building code the moment you go from 2 units to 3✅ How to develop multifamily apartments using a hybrid construction loan that rolls into permanent financing so you are not scrambling to refinance the second your building stabilizes✅ The truth about ground up apartment construction as a wealth play: short-term margins are tight right now, and why that is not the reason to stopDaniel has been doing apartment development and land acquisition in Richmond, Virginia for over a decade. He owns and manages everything in house. His team complained when they had to drive 15 minutes to a property. That is the operation we are learning from.If you have been sitting on the fence about your first development deal, this conversation will either get you off it or save you from the wrong move.
Transcribe →The 1976 Rule That Kills Manufactured Home Loans
Jun 700:19:15Tap to summarizeMost people buying a mobile home in California go through the manufactured home park approval process and never saw it coming. They got approved by the lender. They had the down payment. And then the park said no.There are a lot of moving parts to mobile home financing California buyers almost always underestimate. The interest rates are higher than a traditional loan. The terms are shorter. Space rent counts against your debt-to-income ratio. And there are two completely separate approvals you have to pass, one with the lender and one with the park itself. Most buyers only know about one of them.In this episode, I brought back Michael Yates to break down exactly how manufactured home loans in California work, what the real requirements are, and what can quietly kill your deal before you even know it's in trouble.Here is what we cover:✅ Why the manufactured home park approval can reject you even after your lender says yes✅ The June 15, 1976 cutoff date that changes everything about your manufactured home down payment✅ How manufactured home interest rates compare to traditional loans and what to expect✅ What space rent on a mobile home actually is and why it affects your loan qualification✅ How to get as little as 5% down with no PMI on a mobile home on lease land✅ Whether FHA, VA, or conventional loans work for these properties (the answer will surprise you)✅ What documents you need and how manufactured home loan requirements differ from a standard mortgage✅ Why buying in cash does not mean you skip the park approval, this one catches people off guardIf you are seriously looking at a manufactured home as an affordable option to stay in California, keep that in mind before you fall in love with a unit. Know the rules first. This episode gives you all of them.
Transcribe →Stop Asking for a Lower Price. Do This Instead.
May 3100:16:23Tap to summarizeMost buyers push for a lower price because it feels like the smart move. The interest rate buydown vs price reduction math will change how you negotiate forever.That $10,000 you fought to get off the price? It saves you about $40 a month. That same $10,000 used as a seller credit to buy down your rate saves you closer to $250 a month. Nobody is running these numbers at the table, and that is exactly why most buyers leave money on the table every single time.In this episode I sit down with Jason Hall from Hallmark Financial and we break down exactly how to structure a deal so you actually win.✅ Price reduction vs rate buydown, we run the real numbers side by side so you can see the difference clearly✅ Permanent buydown vs price reduction, when one wins over the other and why the answer is not always the same✅ The seller concessions vs lower price question answered with actual monthly payment comparisons, not opinions✅ How to use seller credits to buy down rate and what the limits are, Conventional is capped at 3%, FHA at 6%, VA at 5%, the FHA seller concessions limit alone changes what you can negotiate depending on your loan type✅ The difference between a 2-1 buydown vs permanent buydown and when a temporary buydown actually makes more sense✅ How to negotiate a lower mortgage payment using deal structure instead of just hammering on price✅ Why your time frame is one of the most overlooked factors in mortgage rate buydown decisions, and how to factor it in correctlyThis is the conversation your lender and agent should be having with you before you ever make an offer. Now you have the framework to demand it.
Transcribe →SB 9 Explained: Build 4 Units on One Property
May 1000:19:45Tap to summarizeMost people think SB 9 explained means understanding a law. What it actually means is understanding why you might be sitting on $400K in land value and not even know it.My guest Eric Paul Escobar, CEO of Esco Builders, has actually completed an SB 9 lot split in Downey, California. Not theorized it. Not coached about it. Done it. It cost $50,000 and produced a back lot worth $300K to $400K. We break down exactly how that happened and whether it makes sense for you.Here is what we cover:✅ What SB 9 explained really looks like when someone builds it from the ground up, not just how the law reads✅ The difference between an SB 9 unit vs ADU when it comes to appraisals, ARV, and refinancing, and why this matters more than most investors realize✅ The full SB 9 permitting process step by step, surveyor, architect, planning department, civil engineering, county recording, and permits in the right order✅ Why the lot split process steps California investors need to follow are different in every city and why getting that information in writing is non-negotiable✅ How to subdivide land in California using SB 9 with or without a lot split, and which lot types give you the best shot✅ The honest truth about ADU vs duplex investment value when it comes to comparables and what lenders actually look at✅ Why very few people are doing lot split California real estate deals right now and what that means for the investors who are willing to be patient✅ How Senate Bill 9 California real estate law stacks with ADUs to get you up to 4 units on a single family lotThis is not beginner content. But if you are ready to go deeper than ADUs, this is where the real land value is being created right now.
Transcribe →They Said $10M Was Unrealistic. He Did $200M.
May 300:59:12Tap to summarizeMost agents building a real estate team from scratch make the same wrong first move before they ever hire a single agent.Cyrus Moseni was told his $10M goal was unrealistic two weeks into getting his license. He put his iced tea down, thanked the man, and told him he'd be at a different brokerage within 90 days. Year one he closed $30M. Year two, $52M. Today the Keystone Team does over $200M a year with under 40 agents and every single one of them closes deals.In this conversation Cyrus breaks down exactly how he did it, with real numbers and zero fluff.✅ Why building a real estate team from scratch starts with a VA hire, not an agent hire✅ The real estate team structure that lets his admin handle every offer, every showing schedule, every piece of paperwork so agents only do what makes money✅ The real estate team splits math that actually works, and why the pie goes negative 10% if you get the order wrong✅ How he uses a real estate lead generation system combining Zillow, Meta ads, and an ISA model to give every agent on his team a live pipeline on day one✅ His real estate prospecting system before paid leads existed: 4 hours cold calling, 2 hours door knocking, 80 calls an hour on expireds and FSBOs✅ Exactly how to hire a broker of record to launch an independent brokerage without holding your own broker's license, and what percentage structure to expect✅ The honest breakdown of real estate team vs independent brokerage from someone who has run both, including when ancillary services are the only reason the numbers work✅ Where to find the best VAs for real estate, including which countries and platforms actually deliver when hiring virtual assistants for a growing teamThis is what it actually looks like to build from zero to $200M with a lean team, a tight system, and no agents sitting on the bench.
Transcribe →How I'd Buy a Rental at 2% When Rates Are at 7%
Apr 2700:52:41Tap to summarizeYou keep running the numbers on rental properties and walking away because nothing cash flows at these rates. This subject to transaction explained is the episode I wish I had when I first heard about this strategy.I sat down with Marcus from Surf 1st Realty, a transaction coordinator who has structured these deals from start to finish, and we broke down every single piece of how subject to real estate actually works, not the surface level stuff, but the full picture both sides of the table need to understand before moving forward.Here is what we cover:✅ What it actually means to buy a property using subject to mortgage investing and why it is not the same as a loan assumption✅ Why sellers facing foreclosure use this strategy to sell fast and walk away with their credit saved and actually helped, not just protected✅ How these deals can close in as few as 10 days with no appraisal and no bank qualification✅ The difference between a land contract vs subject to and when each one makes sense✅ How a performance deed works and what it does to protect the seller if a buyer ever defaults✅ The due on sale clause, what actually triggers it, and why insurance is the number one thing to get right✅ How inheriting a 2% mortgage through creative financing real estate changes the cash flow math entirely when new loans are sitting at 7%✅ What sellers need to know about qualifying for a future mortgage after doing a subject to deal✅ Who the ideal buyer and seller are and what the subject to real estate California market looks like for this strategy right nowIf you are a seller trying to figure out how to avoid foreclosure without destroying your credit for a decade, or an investor who wants to understand subject to vs loan assumption before structuring your first deal, this episode is built for you.Marcus can be reached directly at 916-496-4512 or marcus@creativetcservices.com.
Transcribe →