YOU ARE WHAT YOU EAT

In 1826, Jean Anthelme Brillat-Savarin wrote: “Tell me what you eat, and I will tell you what you are.”

The reason I share this with you is because about six months ago, when I stepped on the scale, it showed 184.4 lb. It was more than I liked it to be, but I had no idea what I could do to lower it. As it often happened in my life, the solution came from my wife, Elfa.

In preparation for our daughter’s wedding in September, she decided to fit into her old beautiful dress again. To do this, she needed to limit the intake of her food. And since Elfa oversees feeding me, I ended up eating less as well.

When I stepped on the scale today, it showed 174.4 lb. The result made me very happy, and I intend to keep it this way.

And now comes another quote; this one is from Earl Nightingale, “We become what we think about most of the time.” I think about myself as a healthy, (i.e. not an overweight) person.

However, thinking alone was not enough. The results required taking action. Perhaps my actions might motivate you; therefore, I am going to share with you what I’ve been eating, which helped me bring the weight down.

My morning starts with the fresh squeezed vegetable juice (above). A half an hour later, I have porridge with berries (below).

Under the porridge, I slice up half of a banana, cut up kiwi with the skin and various nuts and apples topped with pomegranate seeds, cayenne pepper, chia seeds and cinnamon.

For lunch I walk to Sprouts supermarket near my office, and order a deliciously toasted sandwich with veggies and tuna or two small salads.

For dinner, we usually have soup and salad or a large bowl of salad. On the weekend, we usually have brunch and an early dinner. We rarely go to restaurants. All those meals not only save on calories, but also on our budget.

I live a very active life. I work in the office for eight hours and process my photos and write in the evening. I also stretch every morning and walk with our labradoodle Max after dinner.

Recently, a person whom I saw for the first time in a number of years, remarked, “You age backwards.” This is a nice compliment for someone who is going to be seventy-eight in two months.

I hope that my experience can encourage you as well. If you need motivation, give me a call: (415) 225-7920.

 

 

BRIDGE LOANS: PART THREE

Unlock Efficient Home Purchases with an Innovative Bridge Solution!

Over the past two weeks, we explored how buyers can purchase new properties before selling existing ones. But what happens when the perfect new property isn’t yet available in the market? There is a compelling alternative!

SOLUTION OVERVIEW

Borrowers can:

• First, secure a mortgage against existing personal property
• Second, use mortgage funds to buy another property when it’s available or pay cash for a better deal found in the market
• And, finally, sell old home to pay off the loan

Key Benefits and Features:

• No verification of income required to qualify
• 70% Loan-to-Value (LTV) limit
• 9.75% interest rate (comparable to private money loans)

Additional Costs:

• 2.25% lender fee
• One agency point
• Closing costs

While the above costs may seem substantial, the benefits often outweigh expenses.

Recently presented in our office by LendSure Mortgage, this program offers:

• Flexibility in competitive markets
• Strategic advantage in securing new homes

Follow this link to watch a piece of the original presentation to learn more about the above program.

Please don’t hesitate to contact me to explore how this innovative solution can streamline your new home purchase journey!

Cell: (415) 225-7920;
Email: [email protected]

I promise to help!

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602

What $9.1 billion and Apple Peels Have in Common

When I walk in our neighborhood with our labradoodle Max, I see some neighbors decorating their lawns with skeletons for Halloween. We usually associate this holiday with dressing up, children trick and treating and carved pumpkins. But why skeletons? To find the answer, I checked “The History of Halloween – Dark Origins of the Holiday”. It was a rather long read, so I will share with you some fascinating tidy bids.

The origins of Halloween go back two thousand years, to the Celtic celebration of the Samhain holiday. One of the beliefs of that time was the veil between the living and the dead, especially thin, so people could communicate with their loved ones who had passed away. Perhaps this explains the skeletons. After the Romans conquered the Celtic territory by 43 A.D., the holiday spread and combined with other traditions, superstitions and holidays. The Christians adopted it as “All Souls’ Day” or “All Hallows” and later it became known as Halloween.

In the 1700s and 1800s, unmarried women performed rituals on Halloween in hopes of finding a husband. Single ladies used to throw apple peels over their shoulders, hoping to see their future husband’s initials in the shapes they made where they fell.

Trick-or-treating skyrocketed in popularity by the 1950s when Halloween became a true national event. Today, over 179 million Americans celebrate the holiday and spend about 9.1 billion dollars annually in the process.

If you would like to learn more, just read the stories available at the highlighted links provided above.

Meanwhile, enjoy some of Halloween decorations that  I photographed earlier!

HOW TO BRIDGE A MORTGAGE.
PART TWO

Last week, I shared with you a bridge loan option offered by one of our lenders. This time, another lender shared with us a different bridge opportunity. In the previous case the lender combined two properties together and the loan amount was 55% LTV minus an existing loan and expenses.

The alternative is to get cash out from the departure property up to 75% LTV. After deducting the existing mortgage, the balance is going to be held in escrow until the new property transaction comes to an end. The money can be used to do necessary repairs and staging to get higher value. There is no monthly payment for twelve months and daily accrued interest is going to be deducted when the property is sold.

We’ve learned about this option during a presentation made by LendSure Mortgage during our recent staff meeting.

A video excerpt of that presentation is available at this link.

With any questions on the subject, please call me at (415) 225-7920.

Or send me an email at [email protected].

I promise to help!

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602

HOW TO FIND JOY

This Thursday night was the start of the Jewish holiday, Simchat Torah, which translates into English as Joy of the Torah. It symbolizes the end of the current life cycle and the beginning of a new one.

The Torah consists of five books, which are divided into 54 weekly portions. On this holiday, Jews finish reading the last chapter and start reading from the first chapter of Genesis. This event is celebrated with joy and dancing. It might be difficult to comprehend; however, this is a very good reminder that the death of Moses, who took the Israelites out of Egyptian bondage, is followed by a new beginning – the creation of our world.

 

During the recent Yom Kippur services in San Francisco, Rabbi Zarchi shared some stories about Israeli soldiers who died defending their country in the war in Gaza. One of them left a letter for his parents requesting that if he dies, not to be sad; but rather, be joyful at his funeral. In his letter he wrote that he had fulfilled his duty to protect his family and friends, and now it is time to celebrate that they are alive and to enjoy life.

There was also a story about a father whose son was killed by Hamas during the Nova massacre. In his memory, he donated 102 engagement rings to Israeli soldiers. It started with one, but when more soldiers reached out to him, not only did he decide to give each of them a ring, but he also danced at each of their weddings.

Regardless of what happens in your life, there is always a reason for joy.
I hope that you will find joy looking at these three images of beautiful flowers that I’m sharing with you today.

Enjoy and Share with a Friend!

HOW TO BRIDGE A MORTGAGE

Clients frequently ask: “Can I purchase a new property before selling my current one?” The answer is yes, but it’s contingent upon several factors. These transactions involve “bridge loans.”

Bridge loans offer various closing options and differing transaction costs. Choosing the right program or lender depends on the borrower’s intentions and circumstances. Some buyers seek to purchase a new property, sell the old one, and then secure a smaller loan after paying off the bridge loan. Others prefer to retain the original property.

Qualification requirements vary; some loans necessitate income verification, while others rely solely on property equity. To navigate these complexities, it’s essential to work with a professional lender.

Recently, Pacific Bay Financial hosted Cari Anderson from Axos Bank at our Daly City office. She delivered an insightful presentation, which we recorded with her permission. A video excerpt is available at this link.

With any questions on the subject, please call me at (415) 225-7920. Or send me an email at [email protected].

I promise to help!

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602

What Is the Feast of Booths?

The Jewish holiday called Sukkot, which lasts for seven days, started on Wednesday, October 16, 2024. Unlike the two Jewish holidays right before it (Rosh Hashanah and Yom Kippur), Sukkot, known as the Feast of Booths, actually belongs not only to Jews, but to everyone. Prophet Zachariah who lived during the rebuilding of the temple in Jerusalem around 520 to 470 BC, wrote the following:

“All who survive of all those nations that came up against Jerusalem shall make a pilgrimage year by year to bow low to the King Lord of Hosts and to observe the Feast of Booth.” Zachariah 14:16.

Another name of the holiday “Feast of Tabernacle”, comes from the Torah as the remembrance of Israelites who wandered through the desert for forty years. It is also a celebration of the end of the harvest, and many Jews decorate the Sukkah booth with fruits and flowers.

Sukkot has other significance, as well. On this holiday we fervently pray for the rain and the dew. In the book “The Seven Lights” I read: “Rain is perceived as a response to men’s need and activities. Man does what he has to do, and then the rain makes his work flourish, whereas dew is a spontaneous gift of God.” All of us need this blessing, this is why starting from Sukkot until Passover (which is in Spring) special daily prayer is added “You cause the wind to blow and the rain to fall.”

Since all people of all beliefs and religions need rain, we all have an opportunity to pray together.

In today’s story, I’m sharing with you my poem “The Rain”, which is included in my latest book, “42 Encounters with Illumination”, as well as three images, which I captured in the rain.

THE RAIN

When rain falls
It consists of many droplets.
If you could stop them,
They would all look the same.
But do they?
Like a group of people
From far away they look the same.
But do they?
Each drop represents
The place they came from.
From the mighty ocean,
Or from the quietly moving river,
Or from the murky dump,
Or from the melting snow.
Same with us, the humans.
The rain brings to our lives awareness
Of who we truly are,
And what is the source
Of being human.

“42 Encounters with Illumination” can be a great gift for anyone you care about. So, don’t hesitate to order the book on Amazon.

Enjoy and share with a friend!

HOW TO BUY A HOME
WITHOUT PROOF OF INCOME?

Have you ever heard about the Community Development Financial Institution (CDFI) program offered by the US Department of the Treasury Program that helps low-income communities? My team and I have learned about it during our recent online meeting with Champions Funding, a Non-QM lender.  A video cut of our online conference is available at this link.

Basically, it means that if you have or can get a gift for 20% of the down payment, you can buy a property without the need of proving any income. Moreover, if you are an African American or Hispanic, or are from Vietnam, or reside in a low-income area, which is determined by the Census Truck, or have one of the medical conditions, which are part of the ADA (The Americans with Disabilities Act), you can be entitled to a special discount.

Sounds wonderful, doesn’t it? But is there a catch? First of all, the interest rate under this program is higher than under regular loans (additionally requiring verification of income). Second of all, under this program you are required to have reserves. As mentioned above, the down payment can be provided as a gift, while reserves have to originate from a borrower’s own funds.

To give you an idea of how it works, one of my clients was buying a home for $688,000. The down payment of 20% had to be $137,600. In addition, he was required to show $78,500 of his own funds in reserves. At the loan rate of 8.875%, the monthly payment was going to be $4,842. So, as you can see, this program is not for everyone. To find out if it will work for you, don’t hesitate to give me a call at (415) 225-7920 or send me an email at [email protected].

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602

How to Ask for Forgiveness

On Friday’s eve, October 11^th, is the start of Yom Kippur, the Day of Atonement. This day is considered to be the holiest day of the year in Judaism. Those who follow the tradition are fasting for 25 hours. I stay in the synagogue the whole day, praying and asking for forgiveness from God, for all the transgressions known and not known to me. The process of atonement started ten days earlier on Rosh-Hashanah. It begins with asking for forgiveness from people in my life. I am grateful in advance for your forgiveness.

What happens on Sunday, the day after the Day of Atonement is over? Old habits kick in and life goes back to the same routine, or perhaps something does change. Was I forgiven or not? Do I have to wait till the next Yom Kippur to find out? And how do I know how my life is supposed to be? If we are to live day by day and to make an effort to help others, the answers to these questions don’t really matter. After all, this was the essence of my repentance.

Recently, I have published my latest book, “42 Encounters with Illumination”. It has beautiful images of the manifestation of light, and poems which serve as illuminations.

Myself

I cannot be myself
Unless I share myself with others.
That is an eternal message
Which I received some time ago.
This message became my life’s mission.
It helps me to understand
What life is all about,
Who am I, and why I am here,
In this place and time.
What it takes to be
The son, the brother and the husband,
Father, friend, co-worker,
Man or woman, child and the older person.
Only when I realized that I am part of all these people
Who fill my life, and whom I love,
I was able to find myself.

You can order “42 Encounters with Illumination” on Amazon.

Enjoy and Share!

PATIENCE IS GOLD

One of the valuable qualities for anyone involved in the mortgage and real estate businesses is patience. It has been very well demonstrated during one of my recent transactions.

I first met with Eugene in January this year. He was referred to me by a real estate agent. As a general contractor,  Eugene declared decent income. However, he had very little money for the downpayment. As a contractor he was looking for the properties where some work needed to be done. Then his search switched to units. However, the down payment was affecting his choices.

We were planning to get him an FHA loan with 3.5% down payment. And then he found something which was not on his radar before – a condominium. The project was not approved by FHA. However, we were able to find a loan where with 5% downpayment he could get the interest rate of 5.99%. The entire process took nine months and, as you may guess, required his and our patience.

Last week, Eugene inked the deal in our office. The signing process was filmed with his permission so we could make the video available for you at this link.

With questions feel free to call me at (415) 225-7920. Or send me an e-mail to [email protected].

I promise to help!

Manny Kagan,
President,
Pacific Bay Financial Corporation

NMLS #205637
DRE #00824602