The Whole Enchilada Podcast: Helping First-Time Homebuyers with Milva Gilluly
Buying a home for the first time is an exciting milestone, but for many, it comes with unexpected challenges—from financing hurdles to HOA restrictions.
In this episode of The Whole Enchilada, I had the pleasure of speaking with Milva Gilluly, a dynamic real estate agent with over 12 years of experience.
Milva has built a thriving career working with everyone, from first-time homebuyers to luxury clients. Her expertise in relocation, home financing, and market challenges gave us much to discuss.
Let’s dive into the key takeaways from this incredible conversation!
The Challenge of First-Time Homebuyers & Financing Hurdles
Milva and I agree—helping first-time homebuyers is one of the most rewarding experiences in real estate. These buyers are often excited but face major hurdles when trying to secure financing.
Here’s what’s happening in today’s market:
- Many buyers don’t have perfect credit or a high enough down payment to qualify for traditional mortgages, making it difficult for them to enter the housing market.
- Some try to buy with an alternative financing option, but these can often come with higher interest rates and less favorable terms.
- FHA loans allow for lower down payments (as low as 3.5%), but HOA rules block FHA approvals due to financial mismanagement, limiting access for potential buyers.
- Banks create extra hurdles, delaying approvals or rejecting applicants last minute, which can lead to frustration and lost opportunities for homeownership.
- Down payment assistance programs exist, but they come with strings attached and hidden limitations, such as income caps or requirements for future repayment, which can complicate the buying process.
Milva works hard to help her clients navigate these obstacles, but the process can be frustrating. That’s where my system of creative financing comes in.
How My System Helps Buyers Who Get Rejected by Banks
For decades, I’ve been running a system that helps deserving families achieve homeownership—without relying on banks.
Here’s how we do it:
- We purchase the home for the buyer, allowing them to rent while working on credit improvement.
- Our rent-to-own model lets buyers build their down payment over time.
- Buyers can secure financing within 1-3 years—or we can become the bank and provide in-house financing!
This method removes the roadblocks that hold buyers back, helping them achieve their dream of homeownership without the usual headaches.
The Reality of Running a Solo Real Estate Business
Milva’s story is inspiring. Originally from Argentina, she moved to the U.S. in 1996 after earning a degree in hospitality. She worked as a flight attendant, but life led her into real estate.
Her passion for educating buyers and guiding them through the process makes her a perfect fit for what we do at Certified Affordable Housing Providers.
Milva is also a true solopreneur, handling every aspect of her business herself. From marketing to contracts to showings, she does it all—but she’s hitting a breaking point.
- She recently outsourced marketing but still struggles with delegating other tasks.
- She’s considering hiring an assistant or agent to help manage the workload.
- She currently drives an hour to serve her clients in Broward County, but she’s expanding into Palm Beach and needs local help.
I suggested that she look into virtual assistants from the Philippines, which many of our Certified Affordable Housing Providers use to streamline their business and maximize profits.
Additionally, having a mortgage broker can also be beneficial, as they can help navigate the complexities of financing and ensure clients get the best possible rates, further enhancing the efficiency of the services provided.
Outsourcing Showings & Leveraging Technology
One of the smartest moves Milva has made is hiring a third-party showing service. For a flat fee per showing, they handle property tours, letting her focus on higher-value tasks.
- This service was $35 per showing but has increased to $65.
- It ensures professional representation without her having to be there in person.
- She only uses it for higher-end clients where the investment makes sense.
Real estate agents need to embrace outsourcing and use technology to scale their business. I’ve been investing remotely for years with my Long Distance Profits system, proving that you don’t have to be everywhere to close deals. Staying informed through real estate podcasts can also help professionals keep up with market trends and business strategies.
Helping More Buyers, Closing More Deals
My conversation with Milva reinforced the importance of adaptability in the real estate industry. It’s clear that thinking outside the box and embracing innovative solutions—whether through alternative financing models, outsourcing, or staying informed with industry trends—can help both agents and buyers achieve their goals. Milva’s experience proves that agents who think creatively can help more people and increase their income.
Ready to dive deeper into the world of real estate and connect with like-minded professionals?
Tune in to The Whole Enchilada Podcast
We offer expert insights, strategies, and real-world solutions that can help you navigate today’s market challenges. If you’re a real estate agent looking to help more buyers and grow your business, let’s connect and let’s change lives together!
Until next time, keep making those Million-Dollar Moves!
Marigona Gllarevaa – Jan 01, 1970