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Financial Residency


May 9, 2024

Real estate expert Darlene Dresch provides valuable insights on the home buying process for physicians. She emphasizes the importance of finding the right realtor and getting pre-approved quickly. Darlene debunks common myths and offers advice on physician loans, debt-to-income ratios, and building wealth through real estate.

She highlights the significance of choosing the right community and understanding the local market. Listeners are encouraged to interview multiple real estate agents, ask about their experience with physician relocations, and inquire about their communication style. Darlene provides a comprehensive guide to help physicians navigate the home buying process successfully.

   
   

Timestamp

Summary

0:01:02

Common mistakes physicians make in the home buying process

0:04:21

Importance of getting pre-approved before falling in love with a house

0:09:35

Find a real estate agent who is fiduciary to protect your best interests.

0:11:17

Factors to consider when choosing a neighborhood include walkability, school district, and amenities.

0:19:48

Paying off student loans first may not always be the best option.

0:20:18

Having no debt can be a disadvantage when applying for a mortgage.

0:23:53

Start building credit early by putting small expenses in your child's name.

0:28:57

Ideal step-by-step process for buying a house as a physician

0:35:14

Steps to follow: avoiding debt, talking to lender, interviewing realtor

0:38:49

The importance of choosing a lender and realtor carefully

0:40:10

Questions to ask when interviewing real estate agents

0:49:00

How realtors negotiate commission and credits from sellers.

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.