John Adams: Buying a Home With a Renovation Loan

John Adams is a mortgage lender and author who has been in the industry for over 20 years. He started as an engineer and then transitioned into mortgage lending. In this episode, he’s here to share his story, discuss the current state of the housing market, and teach us how renovations, such as using renovation loans, can help buyers get into their dream homes.

Author of House Hacking: Using Renovation Loans For A Better Way To Buy A Home,

John Adams is one of the top national performers in VA Renovation, Homestyle. He excels at eliminating confusion and time crunches using a simplified lending process that focuses on communication and eases the anxiety that tends to come with the process. With concierge mortgage services customized to fit clients’ needs, John guides them every step of the way! 

Dive in and learn about buying a home with a renovation loan!

[00:01 - 07:30] John Adams: Engineer to Mortgage Lender

• John Adams is the author of House Hacking and an expert in renovation loans.
• How John started his career as an engineer and transitioned to a mortgage lender.

[07:31 - 13:50] Collapsed Economy and a Rising Passion for Renovation

• How John’s passion for renovation started.
• Learning to navigate the industry with little to no help.
• John talks about how he started driving renovation loans in a resistant market.
• Connections are important in the renovation industry. Find people to pour into you.

[13:51 - 29:20] Do the Best “You” that You Can

• John discusses the importance of finding your niche and how it can help networking.
• Emphasizing the importance of having a positive mindset and consuming positive content.
• John shares how he helped a veteran buy a farmhouse with a VA renovation loan in 2012.
• How he helped the client sell for $200,000 more than it cost to renovate.
• How renovation lending helps add value to a home in a way that protects the client’s money.
• A quick word from our sponsor

[29:21 - 34:50] How to Set Up a Contingency Reserve for Your Renovation Loan

• You must bring on loan officers, contractors, and real estate agents you trust.
• All the elements you need to get right in a renovation loan.
• Contingency reserve is essential in case unforeseen costs arise during renovation.

[34:51 - 41:39] Florida's Housing Shortage Could Lead to More Home Hacking

• John shares his favorite story from his book.
• there aren’t enough homes in the market to care for baby boomers.
• Affordable housing is in high demand.

[41:40 - 50:11] Dispelling Misconceptions Surrounding Renovation Loans

• There are a lot of misconceptions about renovation loans that agents need to be aware of.
• One misconception is that you need an as-is and future appraisal to get a loan.
• The powerful value of rehab loans.

[50:12 - 59:21] Crazy Sh*t that Happened: Two-Minute Warning

• John talks about some crazy experiences he’s gone through. 
• How John adds value outside of real estate through proceeds from his book.
• The Adam family’s favorite thing to do in NE Florida.
• Final words of advice.

Quotes:

“Surround yourself with excellent people… I’ve always been surrounded by smarter people than me in the business.” - John Adams

“Find out what excites you and what really is your passion, and go for that. Don’t just try to be everyone’s loan officer or real estate agent. Do ‘you’ really well.” - John Adams

“Having someone that you can trust that can get you value… Those are key elements in doing a renovation loan.” - John Adams

"One reason I love rehab loans [is] because it's like the redeeming power of Christ in a house. It is being able to make something that's dead new again.” - John Adams

Resources Mentioned: 

• Loan Depot

Connect with John and Facebook and LinkedIn. Pave your way to a better home by going to www.johnadamsloans.com to learn more.

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The content in these videos and posts are for informational and educational purposes only. The information contained in the posted content represents the views and opinions of the original creators and does not necessarily represent the views or opinions of Townebank Mortgage NMLS: #512138.