March 17, 2021

Treasure Talk 3:  How To Buy/Build Your Vacation Home or Investment Property 

 

Hi Friends! It’s been a minute (over a month) since I wrote the last message and Treasure Talk. With the start to Lent last month, I haven’t written as much.  I hope this last Treasure Talk blesses and encourages you before I send some Easter messages over the next few weeks.

I still can’t believe it. It’s been 12 years since Mount Sinai Cabin was built on a little less than an acre of land in Boone, NC. It’s been such a blessing. A friend of mine asked me to tell this story of how Mount Sinai Cabin came to be. I’ve never written this story down until now. 

Until 2020, my whole career I’ve lived on a non-profit salary. I learned to squeeze a dollar until it squeaked. My financial advisor Jody asked me the first time we met about 20 years ago, “What are your dreams?” I remember telling him about wanting a cash reserve, paying for my child (children’s) college, and also to buy or build a vacation home in Boone, NC  when I’m married and close to retirement. I almost flinched saying those words out loud, but he didn’t. He took copious notes and said “Good.” 

Every six months we met to review my small  investments and go over the progress toward those dreams. Friends, I hope two words encourage you as you invest–COMPOUND INTEREST. I would invest a small amount each month, but over time it adds up. 

During one of our review sessions in 2005, we got to the dream about “building a vacation home on Boone, NC when I’m married and close to retirement.” Jody looked at me and surprised me. He said “Why don’t you buy a piece of land now and build on it later?” I was shocked. The thought had never crossed my mind. I only thought it was possible AFTER I was married and close to retirement. 

“How much can I even offer to buy land?” He did some calculations and gave me a price range. I had no clue it that would even buy enough land to build a vacation investment home on. 

My friend in Boone provided a realtor’s name–Greg. I remember calling Greg and saying “I’m a single female, and I’d like to buy land.” So dorky. Anyway, when he asked the price range, I remember cringing when I told him the amount, thinking he may laugh. He didn’t. He said he’d pull some land listings up and email them to me. 

Two weeks later I was in Boone meeting with the realtor on a July 2005 Friday, and we looked at different land sites. The third one we looked at seemed right. It was slightly less than an acre, fully wooded and with a beautiful view of rolling hills and cows. I quietly prayed, “Lord, I have no idea what I’m doing. If this is Your will, make it peaceful and guide me each step or shut the door of opportunity.” 

I knew i was supposed to make an offer on the land. Greg contacted the other realtor to make an offer. A few hours later I received a call from Greg that the owners of the land wanted to meet me to hear my intentions of the land. It was such a sweet, peaceful meeting with them. We went back to Greg’s realty office on Main Street, Blowing Rock and drew up the offer letter. 

I headed back home down the mountain to Charleston. Greg called and they didn’t even counter my offer! Only God!

The closing was a smooth, peaceful process. The Lord guided each step. It is a miracle that this 34-year-old single lady on a non-profit salary could purchase land in another state that would one day hold a sanctuary called Mount Sinai Cabin. Some of you may know how much I love Moses as a leader in the Bible, which is where the name Mount Sinai comes from. I’ll tell you in the next Treasure Talk more about how much meaning it has for m.

I also love the story of the 12 spies in the Old Testament who Moses sent out to explore new territory of the Promised Land. Of the 12 spies, only Joshua and Caleb came back with positive reports. The other 10 spies focused on the giants of the land versus how amazing the land is.

“But Caleb quieted the people before Moses and said, “Let us go up at once and occupy it, for we are well able to overcome it.” –Numbers 13:30 ESV

 I love the courage of Caleb and Joshua, and 40 years of wandering in the wilderness, they were the only ones out of more than two million Israelites who were able to enter the Promised Land because of their faithfulness. Friend, we will always have giants in our lives, no matter what our “Promised Land” is. Keep going, friend. Have courage and keep going. 

In our next installment of  Treasure Talk after Easter, I’ll talk about the story and practical steps for how the Lord and I built Mount Sinai Cabin as a retreat sanctuary. It was built in the middle of the recession and has been rented out as an investment property for 11 years through VRBO and Airbnb. More to come, friend. 

February 10, 2021

Treasure Talk #2: Six Financial Tips To Help You Fulfill Your Dreams Faster

Hi Friend,

Thank you for the outpouring of encouragement about the launch to our Blessings Brokers Treasure Talk series. These stories, tips and resources AND mistakes are taken from 25+ years of investing on my own with the Lord’s leading. I’m a living testimony of someone who has saved a little bit of money and shaved a little bit of expenses at a time and shaved. It does pay off. It works. 

Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. –Proverbs 13:11 ESV 

Here are six initial tips I learned and still live by to help you invest more, buy your home(s), and make your financial dreams come true:

  1. Spend less than you make. This may seem simple, but it helps to save extra money to have a reserve to buy a car or put a down payment on a home. Divide your expenses in three categories: 1. Tithing/giving, 2. Spending, and 3.Savings. I like how Ron Blue states it in his book, Never Enough. He states four categories: 1. Live, 2. Give, 3. Owe (taxes and debt), and 4. Grow.   (Soon I’ll include an easy Budgeting Worksheet for you to use.) 
  2. Avoid Debt and Pay It Down as Soon as You Can. If you put any purchases on a credit card, try to pay it off each month. If you have accumulated debt on more than one credit card or many thousands of dollars, pay off the lowest amount first. Once one credit card is paid off, apply that same amount to the next highest debt amount. I don’t like to use the words “always” or “never” very often. In this case I will.  ALWAYS pay down as much as you can to pay it off quicker. NEVER only pay the minimum amount. That’s how credit card companies snag you. Beat them at their own game.
  3. Pay your bills days or weeks before they are due. Late fees can add on to your bills if companies don’t receive your payment on the due date.  Paying bills on time highly increases your good credit score or FICO. FICO is an abbreviation for the Fair Isaac Corporation, the first company to offer a credit-risk model with a score. FICO score is simply named after its founders, Bill Fair and Earl Isaac. As you are looking to buy a home, buy a car, or any large purchase, they will always look at your credit score. This score affects your qualification, interest rate, etc.  If you do get a late fee, which I do on occasion if I pay my bill too close to the due date, simply call their Customer Service phone number and speak with a live person. Most times they have taken off my late fee because they know I pay on time most times. Especially during these  COVID-19 times, companies have grace. 
  4. Shave your expenses. Please try to avoid going to Starbucks and other $5/day indulgences. One Starbucks avoided a day equals at least $100+ per month saved. Also, making your own lunches and dinners to avoid eating out also saves money AND is healthier. Even only water to drink each time you eat out saves at least $4 a person each meal AND Is better for your health. Occasional treats are fun. It’s the daily indulgences. Even getting my monthly spa pedicures and manicures I have curbed in an effort to shave expenses.  A $10 bottle of nail polish is much more affordable for me to paint my nails myself. 🙂 
  5. Give your tithe and be generous in giving. Even when you are budgeting, please continue to give at least 10% of your gross salary to the church and other non-profits. It’s your first fruit to God, not the crumbs left over after all our other expenses. It is FUN to give to God and to other non-profits. We can’t outgive God. He will continue to bless you and SURPRISE you. Also, when you itemize your taxes, tithes and donations to 501© 3 organizations are tax-deductible.  Another added bonus is that you can find good furniture bargains at Habit for Humanity ReStore and support other similar organizations.
  6. Find and keep a good financial advisor. I would never have had the courage and confidence to make the investments I have if not for my amazing Ameriprise Financial Advisor Jody Hyden. He is also a Kingdom Financial Advisor, which is an organization of Christian financial advisors who teach Biblical stewardship. I started with my Financial Advisor over 20 years ago before I bought my first home.  Here is the website to find one for yourself: https://kingdomadvisors.com/

I’d love to hear what Financial tips are you using. What are your financial dreams? How are you doing. Please leave comments and let us cheer you on. We at Blessings Brokers would be honored to work with you to have your God-sized dreams become a reality.

Please share with your friends and follow us at @blessingsbrokers and @danyamjordan.

With these Treasure Talk tips and others, remember it’s not how much you make, it’s what you do with it. I pray and believe you will continue to thrive and give back.

In our next Treasure Talk #3, I’ll give the story and tips for how I bought land and built my second home investment property before I was 40 years old. I can’t wait to hear your stories. We are in this journey together. 

February 2, 2021

Intro to the New Treasure Talk Series: How I Bought My First Home On a Budget Before 30 Years Old 

I didn’t think my budgeting stories were worth telling. Many thanks to Taylor, a 20-year-old leader on our Blessings Brokers team, who told me my financial testimony, resources and wisdom need to be told. So begins the first of hopefully many “Treasure Talks” that can help others grow your resources and help your dreams become a reality.

 I wasn’t born from a family with money. My parents both grew up on different tobacco farms near Myrtle Beach, SC. Mom is one of eight children. They didn’t have an indoor bathroom until after she was out of the house and married my Dad at 18 years. She told me that growing up they had “three bedrooms and a path to the outhouse.” 

My Dad worked for 33 years as a Delta Airlines jet mechanic. He wore a uniform and worked shift work. Before I was born my parents bought a modest ranch-style home. We lived there until I went to college. We lived simply and had just enough.

My Mom and Dad taught me to tithe at least 10 percent to the church first from my allowance. He said when I got paid a real salary to always tithe from the gross amount, not after taxes because it’s all God’s. We are simply the stewards and can’t outgive God. I followed their advice and still do. 

Dad also paid our bills as soon as they arrived in the mail.  He taught me to be thankful for the bills when they arrived because it meant we had a roof over our heads, electricity, and clean water. 

 I was the first in my immediate family to attend a four-year college. I’m so grateful my Dad scraped enough funds to pay my tuition and didn’t have to pay student loans. 

When I graduated from college I applied for well over 50 jobs and didn’t get one of them. I moved back home after graduation feeling so defeated. I had completed three different unpaid internships and worked a 20 hour a week job during college to earn extra money. I was ready to work full time. 

None of the employers were calling me back. Two weeks after graduation I began calling the employers I sent resumes to inquiring if I may interview. One kind employer told me he had had hired internally and encouraged me to apply for work through a Temporary Service like Kelly Services. He said it would be full-time work, and it could lead to a permanent position once I prove myself in the job. I followed his wisdom and was placed through Kelly Services at a non-profit private school called Porter-Gaud School that next week in the Donor Development Department.  

Months later it led to a full-time position as the Donor Development Office Manager. It was great experience, as they were launching into a $5.5 million Capital Campaign. I was grossing $20,000 a year, which I thought was GREAT at the time. I was 22 years old. The Business Manager encouraged me to contribute the maximum toward the 401K 6% retirement match, which is tax-free donations from my salary. I told him I thought I didn’t make enough money and that I was too young to contribute to retirement. He gave me some advice I’ll always remember:

“It’s not how much you make, it’s what you do with it.”

He then told me about compound interest and how quickly cash adds up when we contribute even a little bit each month to our 401K retirement. It does add up quickly.

Porter-Gaud School also paid for my Masters degree in Public Administration, which I’ll always be grateful for. I worked full-time and attended classes at night for two years.

I worked there five years, got my first apartment and realized how much each month it costs, and I wanted that money to go toward equity in a house.  

A Buyer’s Agent helped me buy my first home for $115,500, at 29 years old on a non-profit salary, while still tithing 10% and paying my own down payment. In the next Treasure Talk, I’ll give you six tips I learned and still by to help you buy your home, invest more in real estate and make your dreams come true. 

With this Treasure Talk and others, remember it’s not how much you make, it’s what you do with it. I pray and believe you will continue to thrive and give back.

Reflect: 

What are my dreams if money weren’t an issue?

Where can I shave expenses to help make these dreams a reality?

Recharge: 

“For where your treasure is, there your heart will be also.” –Matthew 6:21