How to Invest in Real Estate Even When Interest Rates Feel Too High | Kathie Fish

Kathie Fish (00:00)
Because I like to make it click and I like to make financial concepts not so scary. Sometimes people th look at real estate and investing in themselves as that’s something for other people. I want them to look at it and be like, that’s not so scary. She’s talking about sushi and we’re crafting. And I now know the path and I know the tools and I can start working toward that.

Scott Bursey (01:55)
Welcome back to the Real Estate Pros Podcast powered by Investor Fuel. I’m your host, Scott Bursey. Glad you’re with us.

Today we’re delighted to have Kat Fish joining us from Colorado Springs. She’s a top tier mortgage loan originator and the mastermind behind The Mortgage Toolbus. Listeners, you can expect a clinic on navigating modern lending strategies and streamlining loan processes in today’s market. Kat, welcome to the show.

Kathie Fish (02:23)
Thank you, Scott. I’m so happy to be here.

Scott Bursey (02:25)
It’s awesome having you here and to help our listeners get up to speed. Please give us the ninety second highlight reel of how your career ignited and where you’re pouring your fuel now.

Kathie Fish (02:36)
I am the creator of the education platform The Mortgage Toolbus and I am passionate about educating. So I am focusing all my attention right now on educating. I’ve got a couple online webinars and I do in-person workshops with various partners throughout my community. And I just want to be a resource for people who are thinking about investing in themselves and in real estate. to provide that map.

That roadmap for their goals.

Scott Bursey (03:04)
Thank you for highlighting that, Kat. And what really caught my attention about you was the way you’ve been able to build out The Mortgage Toolbus platform to completely streamline lending for buyers and agents alike. And expanding on that, curious to know what loan products are working best for your buyers in Colorado Springs right now.

Kathie Fish (03:27)
there are a couple awesome opportunities right now. I always like to encourage people to look into the FHA loan program where they can buy a duplex or up to a quadplex, live in one, and rent out the other units. And that can build wealth for them and opportunity and also give renters a good spot to rent. You can be that landlord you always wished somebody was for you. So I love that opportunity.

There’s also the DSCR loan, which is the debt service coverage ratio where people can invest in real estate and it’s not based on their income. It’s based on the income potential of that property. So that is still a good opportunity for investors.

Scott Bursey (04:08)
How are you helping buyers navigate higher interest rates on those products?

Kathie Fish (04:12)
It’s a conversation. It’s really about that monthly comfort. And it has to be a serious talk about what matters, what their goals are, what they can afford to invest in themselves. It’s not, I’m never going to pressure somebody. It’s never going to be you should do it now. It’s going to be when are you ready and able? And yes, there are those, that interest rate.

concern and honestly I don’t know that it’s going to come down. We might be in the future thinking, those were the good old days. So none of us have a magic ball and we can’t predict the future. But traditionally investing in real estate has had a good outcome and that investment increases. And so

It’s still a good opportunity. I’m glad that I’ve invested in myself and I love helping other people invest in their futures.

Scott Bursey (05:06)
Appreciate you highlighting that, Kat. And wonderful to learn. Where are you seeing the biggest bottleneck in loan origination today?

Kathie Fish (05:14)
I think fear. People are looking at the world and the situation and yet you still need a roof over your head. You still need a place to live there are other people who need those. So to provide those opportunities if you want to invest in something you can rent is still

a necessary part. Everyone needs a place to lay their head. So to get over that fear and to make the numbers work is the conversation I like to have with people.

Scott Bursey (05:44)
And Kat, interested to hear, where are you seeing the best opportunity to gain market share currently?

Kathie Fish (06:38)
there are some opportunities. it depends on if you are perhaps a veteran or military active duty who is able to step into an assumable loan. There are some VA loans that still have amazing interest rates from, during that pandemic period. And those veterans or

active duty members need to move. And so they are willing to give that assumable rate to somebody. And you can step into that and have that benefit. So that’s an awesome opportunity. And there’s quite a bit of those here in the springs.

Scott Bursey (07:13)
How does The Mortgage Toolbus give you an advantage there?

Kathie Fish (07:17)
I think it’s memorable and it’s very authentic. It’s very me. I love Ms. Frizzle and The Magic School Bus and I used to be a nanny. So teaching, breaking down concepts into bite-sized visual pieces is my forte. It’s education first. My job is not to sell somebody alone. My job is to provide the map and the fuel to get them where they want to go.

Scott Bursey (07:40)
That’s a huge takeaway for our listeners. And Kat, curious, what market shifts in Mortgage Lending are keeping you on your toes right now?

Kathie Fish (07:50)
it has been a bit of a challenge, especially over the last few weeks. So now we are pivoting. I’m pivoting and talking to the existing customer database and people who own a home and have owned a home for a few years. And it could be a good time for them to look into the potential of using some of that equity they’ve already built up in their home to.

help with the burden of personal loans, credit card loans, student loans, et cetera. Perhaps consolidating that via a cash out refinance or a HELOC. And that’s a conversation I like to have with people right now.

Scott Bursey (08:25)
And would love to know what is the primary focus for scaling The Mortgage Toolbus this year.

Kathie Fish (08:31)
Working with my strategic partners in the community. I am working with realtors and financial advisors and insurance agents. Last night I had an in-person workshop with two of my partners and we met at a brewery and first round was on us and it was just education, a conversation, no pressure, no hard sell, just what are your questions? And let’s play some games and win some prizes and eat good food. So we’re going to be doing more of those.

I am also leaning into my craft skills. And so I already showed you my sushi here that I talk to people about what they’re paying with their principal interest, taxes, and insurance. So I like to visually show people that when you borrow money to buy a home, think of that as the rice, the PRINCIPAL. And then the next I in P I T I is the INTEREST

That’s the soy sauce. Ideally, you want the best lowest sodium soy sauce you can get. That T is the TAXES and insurance, the crunchy vegetables that support your local schools and government. And that last I in that is the INSURANCE, the seaweed wrap that protects the whole bite. And so I have created a craft and it’s made out of felt, and it’s something that I can take. And I have two classes booked already for this fall.

So it’s got pieces to make their own sushi roll in a low barrier to entry, fun. let’s roll up some sushi rolls with felt and let’s talk about what investing in real estate would look like for you.

Scott Bursey (09:59)
That’s awesome. Great perspective there. thanks for dropping that knowledge.

Kathie Fish (10:04)
Here. Look how cute.

Because I like to make it click and I like to make financial concepts not so scary. Sometimes people th look at real estate and investing in themselves as that’s something for other people. I want them to look at it and be like, that’s not so scary. She’s talking about sushi and we’re crafting. And I now know the path and I know the tools and I can start working toward that.

Scott Bursey (10:28)
That’s super. And on that note, if our listeners are thinking to themselves, hey, this lady is just marvelous. What would you like them to know first about The Mortgage Toolbus.

Kathie Fish (11:21)
It is my passion project. I am all about education and empowering people. I don’t want people to think, well, I can never do something. Never say never. And if people come to me and they’re like, hey Kat, this is my situation, okay. Now we know where we’re starting from. It’s okay. No fear.

You’re like, my credit has a bit of a challenge. Life’s been lifing. Okay, now we know where to start from. Credit is just, I love debt number. And it just shows to the lender that you can pay back your debt that you’ve borrowed. And if you’ve run through some situations, who hasn’t, time and different habits can increase that number. So no judgment here.

We’ll just work from there, grow from there. I want people to be, okay, I talked to somebody a couple years ago and they told me no. Okay, let’s see where you’re at. Let’s make a plan. It might not be this month. It could be next year. Let’s get you there.

Scott Bursey (12:22)
It all boils down to education and proper communication, it sounds like Kat.

Kathie Fish (12:26)
Yes.

Scott Bursey (12:27)
And Kat, could you describe what your professional network looks like right now?

Kathie Fish (12:33)
speaking of that, I actually have an event this afternoon I’m so excited about. So I am the MC, the master of ceremonies for a networking group. It’s a national networking group called the MNO, Members Network Organization. And I’m the MC of the Springs chapter. And this group we meet weekly via Zoom, which makes it super cool. So people all across our state can be members or visit. And then we meet in person once a month.

So today we’re actually meeting in person for lunch. And it’s just a great way to connect with local professionals and entrepreneurs and people who are just beginning their investment into themselves via a small business and sharing our knowledge and what’s worked for us, what hasn’t, and building that community because honestly, it’s cliche, but people need people. We need each other and we need to.

lean on somebody and teach and that’s how we grow. That’s how we stay engaged. I feel like that’s how you stay young is to keep learning and growing. So I have that group and then I go to a lot of networking events here in my community. And Friday night this past week, there was a deluge four inches of rain within a very short period of time. And I went to two networking events that evening.

So I was a bit wet, but it was worth it connecting with local people and running around with umbrellas. That’s bonding. And then the other networking group I belong to is called Be to the Power of You. It is a women’s empowerment network here in my community and there are local professionals and we meet twice a month and we just share and hold each other accountable and grow.

Scott Bursey (14:12)
Love how strategic you are with your connections. And Kat, we have to know. What’s the single best piece of advice you have for originators looking to win more deals today?

Kathie Fish (14:23)
Be yourself. Be authentic. my husband asked me when I got into this field, he said, So are you going to wear a business suit and just wear boring glasses? And I said, If I can’t be me, I’m not gonna do it. If you’re faking it, people will know. So if authentically you is business suits and glasses or business suits and if you’re that look, be you. If I am

a little eclectic, a little quirky. That’s who I am. And I’m gonna be me. And I feel like there’s enough business, there’s enough people out there that they will connect with who you are and that’s your people. Those are your tribe and I’m connecting with my tribe and my vibe. And that’s how we can grow our business.

Scott Bursey (15:05)
Phenomenal advice. Thank you for sharing. And Kat, you have shared a lot of great words of wisdom with our listeners here today. But is there any additional golden nugget or two that you like to leave with our listeners?

Kathie Fish (15:19)
I’d like to say don’t get discouraged, keep being you, keep showing up, keep being authentic, and I firmly believe with hard work and not giving up, all of us can reach our goals.

Scott Bursey (15:33)
And that’s powerful. Kat, for those of our listeners that want to keep this conversation moving, stay in your lane or collaborate with you potentially on future deals, what is the best way for them to plug into your pipeline and reach you directly?

Kathie Fish (15:46)
So my phone number is 719-259-0866. Feel free to call me or text me. let’s grab coffee, let’s hook up, let’s do a Zoom or a video conference. And then my website is mortgagetoolbus.com. I’d love to meet you.

Scott Bursey (16:04)
Kat, thank you for joining us on the Real Estate Pros podcast.

Kathie Fish (16:08)
I’m so glad I was able to meet you. Thank you so much, Scott.

Scott Bursey (16:11)
This has been an absolute masterclass. And to our listeners, we appreciate you. If you receive value from today’s episode, please subscribe. We’ll be fueling your tanks with a lineup of elite guests, just like catfish, who are accelerating and setting the pace for the rest of the industry. Until next time, keep your standards high and your vision clear. We’ll see you in the next episode, everyone.