Category Archives: Personal Finance

[Bonus Episode] Office Hours: The Difference Between Borrowing to Buy a Primary Residence vs a Second Home



Recently, you too may have experienced the feeling that everyone else but you has a beach house. And you may be wondering how it’s possible that the people you know can afford to purchase a beach house while they’re still paying off the mortgage on the house they live in currently.

On this episode of Office Hours, Malcolm & Desiree sit down to explain exactly how you too might be able to make your beach house dreams come true.

Contact Desiree: desiree@fortismortgage.com

Follow us on social: @fortismortgage

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[Bonus Episode] Office Hours: Using Gift Funds from a relative to Help Qualify for a Mortgage



Typically, when a person is applying for a new loan, they will be asked to provide statements from any bank accounts or investments as a means to show the lender where their down payment will come from when it’s time to close on the loan. And although it may seem simple that a person may receive a cash gift from a relative and apply that to the funds being considered for the purchase, it is not always so cut and dry.

On this episode of Office Hours, Malcolm and Desiree sit down to discuss what makes this situation unique and how to navigate it.

Contact Desiree: desiree@fortismortgage.com

Follow us on social: @fortismortgage

 

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[Bonus Episode] Office Hours: What Happens When You Need to Buy a New House Before You Can Sell the One You’re Living In?



With some folks still looking to get out of city centers and move into single family homes with more space to stretch out, it’s not uncommon to need to carry two mortgages for a short time while moving from the old house to the new one, then getting the old house sold to pay off an existing loan. And thus, mortgage lenders have created specific loan programs to be able to accommodate an individual or family who finds themselves in this very situation.

In this episode of Office Hours, Malcolm and Desiree  sit down to discuss the nuances of this very situation and the stages that need to be navigated carefully in order to make sure that both closings can happen without much of an issue.

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[Bonus Episode] Office Hours: What are Non-Traditional Mortgages and Who are They a Good Fit For?



A non-traditional mortgage is defined as any mortgage that does not qualify as standard or conventional, or conform to a standard amortization schedule. Such as an adjustable rate mortgage, an interest only mortgage, a balloon payment, etc. And although these loans typically have higher interest rates to reflect the additional risks for the lender, they are sometimes a better solution than a traditional mortgage.

On this episode of office hours, Malcolm and Desiree sit down to discuss non-traditional mortgages and some of the ways they might be a better fit that the typical 30-year fixed rate mortgage.


[Bonus Episode] Office Hours: Can You Include Cash for Renovations Into Your Loan if You’re Buying a Fixer Upper?



In this competitive market, buyers are having to be flexible in what they want and are willing to accept in their new homes. That house with the worn floors or dated bathroom that may have been a disqualifier in years past is now receiving multiple competing offers from buyers looking to escape the city center and get into a single family home. But after paying above ask to get into the house in the first place, is there anything left for renovations?

In this episode of Office Hours, Malcolm & Desiree sit down to discuss the options available to buyers in need of a few additional dollars for renovations when they go to close on a fixer upper.

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[Bonus Episode] Office Hours: Can I Qualify for a New Mortgage as a Small Business Owner?



As a small business owner, it can be challenging to prove to a lender that you are a safe enough credit risk to lend hundreds of thousands of dollars to. However, that is not to say it is impossible. For most small business owners, the mortgage process just comes down to properly establishing yourself on paper, paying yourself regularly, and keeping detailed records of everything coming in and going out of your bank account.

On this episode of Office Hours, Malcolm & Desiree sit down to discuss the challenges and the solutions facing small business owners looking to purchase a new home or refinance an existing mortgage.

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25. Untapped Career Opportunities in Technical Sales with Ryan Jones



In a sales role, you are responsible for your own success. You get the opportunity to make your own schedule, meet interesting people and travel to new places. 

However, a role in sales might not always be easy.

In this episode, Malcolm Ethridge is joined by Ryan Jones, enterprise sales director for Microsoft, as they discuss the role of sales in the tech industry. Ryan gives some background on his experiences, and how we found his passion for sales. 

Ryan discusses: 

  • Advice on how to break into the tech industry
  • Compensation as a sales professional
  • The additional perks of working in a sales role
  • How younger people can get into sales
  • And more

Connect With Ryan Jones:

Connect With Malcolm Ethridge:

About Our Guest:

Ryan’s passion is helping individuals and organizations achieve more with innovative technology solutions. Ryan helps his clients leverage technology to create new revenue and improve control of operational expenses. Ryan has Extensive experience achieving mission critical goals and improving operational processes for Enterprise and Federal clientele while delivering positive and rapid ROI.


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24. Founding a Tech Company with a Background as a Marketer with Hassan Riggs



When you think of the founder of a tech company, your mind tends to immediately picture an engineer in a hoodie hunched over a laptop coding into the wee hours of the night.

But for the founders of some of the largest tech companies that you know and love, this isn’t the case. It is possible to launch and scale a tech company with little technical expertise.

In this episode, Malcolm Ethridge sits down with Hassan Riggs, founder, and CEO of Smart Alto, as they speak about Hassan’s experience building his tech company with a marketing background. Hassan recalls his own experiences and offers some advice for anyone who wants to take the leap of faith and pursue their big idea.

Hassan discusses: 

  • What he recognized was missing in the real estate industry that led him to create Smart Alto
  • Using clock time versus calendar time to decide when to start a business
  • Using a market-product fit rather than a product-market fit
  • Tools and tactics you can use to build and maintain great relationships 
  • Advice on how to get past mental blockage limiting you from starting something
  • And more

Connect With Hassan Riggs:

Connect With Malcolm Ethridge:


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23. The Gender Pay Gap Around Equity Compensation with Brooke Harley



According to a study by Rutgers Institute, 24% of male employees hold employer stock options while only 17% of female employees do. 

Looking at it from a dollars and cents perspective, in 2018, the average value of a stock option for a male employee was $104,902 compared to $26,361 for a woman. 

These staggering numbers made it imperative to jump back into our series on stock compensation much sooner than planned. In this episode, Malcolm Ethridge is joined by Brooke Harley, founder and CEO of Class Rebel, as they talk about the gender disparity in owning equity, and how to negotiate for more. 

Brooke discusses: 

  • The advantage individuals who attended elite colleges have when raising money for their startups
  • Why she’s always focused negotiations on how much equity she’d receive over salary compensation
  • The idea that it might be easier to negotiate with your employer for more stock rather than cash when going up for a promotion
  • Courses that Class Rebel is introducing to help women understand how to negotiate their equity package
  • Reasons that women might be overlooked or offered less when it comes to stock options
  • And more

Resources: 

Connect With Brooke Harley:

Connect With Malcolm Ethridge:

About Our Guest:

Before launching ClassRebel, Brooke Harley founded a venture fund in 2014, raising $32 million from 50 consumer industry founders, CEOs and executives for investment in early stage brands. She has evaluated hundreds of private investments.


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22. Answering Your Questions



We have been at this podcast for a while now, and are constantly bringing you new topics that relate to your personal finances. 

With that, comes a lot of listener questions; we are sure that there are lots of people who are questioning the same things. We encourage you to send in your questions and comments to podcast@tech-money.com 

In this episode, Malcolm Ethridge answers some of the most common and timely questions he has been asked over the first season of Tech Money. Malcolm aims to provide answers from both the industry and personal level.

Malcolm discusses: 

  • Approaching your children with conversations about money
  • Tools and publications that will allow you to stay up to date on what is happening in the financial world
  • How he stays organized and meets his goals
  • Financial advice from reflecting on his own decisions
  • What is to come in the future 
  • And more

Resources: 

Connect With Malcolm Ethridge: