Episode 32: Why Waiting Costs Wealth

In this episode of Closing Market Weekly, Phillip Hogan sits down with mortgage broker and real estate investor Mike Ryan to break down one of the biggest questions buyers and investors keep asking: should you wait for rates to drop, or move now? Drawing from decades of experience across mortgages, construction, and real estate investing, Mike explains why trying to time the market often keeps people stuck while opportunities keep moving. Mike lays out the real advantage of working with a mortgage broker, especially for buyers who do not fit neatly into one bank’s box. He explains the common myths that stop people from buying—like needing 20% down, needing perfect credit, or waiting for the “right” rate—and shows why those beliefs can delay wealth-building more than protect it. For buyers planning to purchase within the next year, he also shares the first two moves they should make right away: choose who they want to work with and get fully prequalified before they fall in love with a property. The conversation then shifts into long-term wealth building through real estate. Mike walks through a practical four-step framework for building financial stability before investing, including getting your monthly finances under control, maximizing retirement contributions, building cash reserves, and then stepping into real estate with the right strategy. He also explains how to think about credit, property type, owner-occupied investing, and why buying rental property can effectively give yourself a pay raise. Tune in now to hear Mike’s honest take on rates, housing appreciation, and the financial habits that help everyday buyers and investors build wealth safely over time. Highlights of the episode: 03:15 – What mortgage brokers do differently 04:55 – Why brokers give buyers more options 07:25 – Should you wait to buy? 09:35 – Biggest mortgage myths today 12:20 – What buyers should do now 15:45 – How to build wealth through real estate 16:45 – Mike’s four-step ladder 19:45 – Credit habits that help investors 21:30 – Best first property to buy 24:25 – Mike’s 12-month market prediction 26:45 – How to contact Mike Ryan Connect with guest: Mike Ryan Website: https://michael-ryan.com/ #ClosingMarketWeekly #MortgageBroker #RealEstateInvesting #HomeBuyingTips #WealthBuilding #InterestRates #RealEstateStrategy #FinancialFreedom