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  • May 24, 2022LATEST
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Latest podcast episodes about Zillow

Investing In Real Estate With Lex Levinrad
The Opportunity in Bank Owned Properties

Investing In Real Estate With Lex Levinrad

Play Episode Listen Later May 24, 2022 17:01


On today's podcast episode, I talk about the opportunity that will be created as a result of the ending of the foreclosure moratorium. The Foreclosure Moratorium ended in September 2021, however the CDC recommended that banks not pursue homeowners in foreclosure until the end of the 2021. Most banks waited until the end of last year. Many States require a 120 day "grace period" before the bank can sue or foreclosure on an individual that is not paying their mortgage. That expired at the end of April 2022. So we are now going to see many homeowners who have not been paying their mortgages start receiving notices of default (NOD) or Lis Pendens (foreclosure lawsuit). The net result is that many of these homeowners will have to face some hard realities. They will have to either sell their home or lose it to foreclosure. These homeowners who have not been paying their mortgage (some since March of 2000) are going to have only 3 choices which are: 1. Have the bank agree to a loan modification 2. Sell their home before the bank takes it 3. Don't pay and lose their home to foreclosure The net effect is that we should be seeing more inventory from these pre-foreclosures, as well as more short sales, and more homeowners listing their home for sale on Zillow. The end result will be foreclosure auctions at the court house which turn into bank owned properties. In many ways, this is a perfect storm. Interest rates have increased by 2 percent in just the past few months. War and inflation have created havoc in the financial markets. It will be very hard for real estate to remain resilient in the face of all this. I anticipate more foreclosures, more short sales and ultimately more bank owned properties. The net result will be more inventory along with less demand. As an investor, you should start by learning how the foreclosure process works in your State and you should start marketing to motivated homeowners that in foreclosure. This is also a good time for you to learn how to buy pre-foreclosures, and how to complete a short sale package. Start learning how to buy bank owned properties and get familiar with the sites that banks use to liquidate these properties. The opportunity is coming. Are you going to be ready? If you are brand new to real estate and want to learn more about our real estate training programs, investing in real estate, buying rental properties, wholesaling real estate, fixing and flipping houses, and investing in Airbnb short term rentals then please register using the free webinar training links below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FREE FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses, I have a free fixing and flipping houses training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad http://tiktok.com/@lexlevinrad/ DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING BANK OWNED PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best-selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

The Remote Real Estate Investor
Ask Michael Anything – Real estate questions answered

The Remote Real Estate Investor

Play Episode Listen Later May 24, 2022 30:58


In today's episode, we pulled together a list of questions that we were unable to answer in a recent webinar. The questions range from rising interest rates, market selection, the trade-off between cash-flow and appreciation, property management, cap-ex assumptions, and short-term rentals. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum, and today I'm joined by…   Pierre: Pierre Carrillo…   Michael: …and we're going to be tackling some of the questions that you all asked from our AMA webinar the other night that we hosted as part of the Roofstock Academy. So we're going to be taking all or some of the questions we didn't get to, and answering them here. So these are all questions that your peers and fellow investors threw out to us, so let's jump right into it.   So Pierre, we had a bunch of really great questions come in from the AMA webinar we did the other night and for anyone not familiar, AMA is an acronym it stands for, it stands for ask me anything and we kind of spun it because my name starts with the first my name starts with an M, so it would be titled the webinar Ask Michael anything. So it was just a webinar where we had tons of folks come on and ask all their real estate questions that they've been dying to ask since and we just went through and answer them and had a really great conversation. Unfortunately, since we had so many great questions, we weren't able to get to all of them. So everything from today's episode comes to us from that webinar. So you want to just start tossing some out, Pierre.   Pierre: Sounds good. All right. So we have one here that says, with the increasing interest rates, increasing the cost of borrowing money, is it a good time to invest in real estate, what do you think, Mike?   Michael: It's such a good question and traditional finance and economics tells us that with an increase in interest rate, we tend to see a decrease in purchase price, or in list price, which in many markets around the country, I just don't think that we've seen yet and I think that the interest rate is often a leading measure and price can be a lag measure for those lead lag measures. So I have said, and I will continue to say that if the fundamentals make sense, i.e. the numbers that you're calculating makes sense, providing you an acceptable return, interest rate and purchase price are not really prevalent in that equation and what I mean by that is if interest rate hits 10%, but I'm still able to make these properties, cash flow out of cash on cash return, that's acceptable to me, I'm going to move forward with the deal and so I think that if we, if everybody listening, if everyone, all the investors out there continuing to do the same thing, and stop paying attention to the interest rate that as a number, but rather look at kind of the whole picture as the whole pie, it starts to become a little bit easier to digest. Now, if the interest rates are throwing your buy box out of spec, and you can't hit the returns that you're targeting, yeah, maybe that maybe that means let's press pause for a minute, take some time, retool, go get educated, go save up some cash for your next down payment for if and when interest rates do come back into check. But we don't know when that's gonna happen and so if in a year from now, interest rates are at 7,8,9 percent, a lot of us are probably gonna be looking backward and say, man, 5,6,7 percent, maybe wasn't such a bad deal. So I would say don't count on things changing. But you have to get back to fundamentals and do what makes sense for you as an investor.   Pierre: Yeah and if you look at interest rates, historically, 5-6% is still pretty dang low compared to you know, when some of the big dogs made their way in the in this industry.   Michael: Yes, very much, so.   Pierre: Another thing that you brought up, I believe in a past episode was that if you're an all cash buyer, it could be advantageous to you because it's kind of eliminating some of the competition that's coming in with borrowed money. So yes, another thing to think about.   Michael: Absolutely and suddenly, I always talked about it in the academy is like leveraging your primary, your primary residence, in terms of cashing out refi or getting a HELOC on the property. The owner occupant money is always cheaper than investor money and so if you can get a great rate on a primary residence, and then use that money to go invest, that can be a really strong a strong tool to happier to wealth as well.   Pierre: Nice. Alright, let's dig out another one. Okay, this next question here says I'm totally lost. How do I find a good market these days and how do you invest in properties with no cash flow? Do you put money in every month looking for appreciation down the road?   Michael: It's a really good question. I think a lot of folks who are just getting started probably feel similarly to us. So getting started in identifying a market you can you can approach is one of two ways and you can let the deal dictate the market or you can let the market dictate the deal and one of those is probably going to feel easier and what I mean by that is you can go pick a market, let's say you are really interested in Tampa, Florida, because you've heard great things about Tampa, Florida or you have family that lives there or you maybe have visited there, wherever you reasoning justification. Start at the market level and go do some research into Tampa, Florida as a market and decide if that's summer that you want to invest. Do the economics make sense to you? Do you believe in the market as a whole are things trending in a positive direction? Let's say all those things, check out now let's go look at the deals, let's go get granular and look at what types of deals exist in the Tampa market and you might find the Tampa market has deals that support your investment by blocks your investment thesis, and the market does too. So that's going to be a go for you versus letting the deal dictate the market. Let's say you pull up Zillow, or you go on roof stock, and you're looking at properties all over the country and you just try to find something that it was within your budget from a bed bath count that fits your buy box as well, you're gonna find properties all over the country that fit your buy box and make sense as an investment for you. Well, now we need to zoom out a little bit and find out if Chattanooga Tennessee is a market that you're interested in investing in and whichever way you approach it, if you approach it from the deal level first or from the market level.   First, you're going to find great deals and terrible markets, you're going to find great markets that have terrible deals. So it's an iterative process, whichever way you approach it. But as someone that's very numbers driven, I was always letting the deal dictate the market and I was purchasing properties throughout the country, knowing what I know, now I maybe wouldn't have purchased some of those deals because they're in markets that I don't think really appreciated much over time and they haven't appreciated much over time and so while I was focused on cash flow, that wasn't a big issue for me, again, now I'm in kind of the second part of my career, I would be putting more of an emphasis on appreciation and so I would make decisions a little bit differently. But so think about what it is you're trying to accomplish. Are you trying to accomplish appreciation? Or is that really what your main driver is? Are you really looking for cash flow? Is that your main driver, and that's going to help direct you as to what markets to participate in and again, pick whichever one is more fun for you. Do you want to approach it from the deal level first? Do the numbers get into the nitty gritty and then zoom out or do you want to look at do you like looking at demographic information, population economic information from the macro level, and then zooming in to property specific stuff? One of those is probably going to feel easier, I would start there and then to the second part of that question of how are you investing in properties that don't cash flow? Are you, are you sinking money to them every month? My answer is no, I don't invest in properties that don't cashflow and like I was just mentioning cash flow is the main focus for me back when I first started investing. Now that shifted a little bit to definitely more of a balanced approach, I want there to be at the appreciation potential as well as the cash flow, and you tend to have a tradeoff, if you're going to take some appreciation, you're likely going to give up a little bit of cash flow, and vice versa. So depending on what's important to you, if you are someone that's looking for a cash flow property, I would say don't go buy properties that don't cash flow and if you are looking for someone, if you are someone looking for appreciation, that's a very realistic possibility. In today's market, you might have to put money into this property every single month just to make your mortgage payment. That's not something that I'm comfortable doing. A lot of investors would tell you to shy away from that, because that could be considered speculation. You're hoping your property appreciates and if it doesn't, if it goes the other way, well, now you've just got a property that is worth less than you paid for it and you're putting money into it every single month. So I see cashflow as your defense for a lot of folks appreciation as your offense. So just think about what's important to you and if the market turns are you okay, putting money into an asset every single month that is worth less than you bought it for and that often it gives you your answer.   Pierre: So kind of I want to expand on this one a little bit. Given that, you know, there's like the slider there where the house that appreciates more might cash flow a little bit less and high cash flowing property might appreciate less. Given that you're later on in your career of investing in real estate and you're looking more to appreciation, how much cashflow are you willing to sacrifice to make that appreciation play?   Michael: Yuuh, such a good question. If you're looking for the secret sauce or yeah… , you know, I think it really depends on everyone's personal preference, my kind of minimum cash flow that I was targeting back in the day, it was like 100 to 150 bucks a month per door and when I was buying multifamily properties, that's kind of still around where I am, but I'm willing to look to fudge the numbers a little bit less to make the numbers work. So I would probably be okay with 75 to 100 bucks a month, maybe even 60 bucks a month for multifamily stuff, because of the appreciation potential that that is there. But it really it has to be there. It can't just be speculation, it really has to be these properties are under market value or there's some capex that I could do to improve the value of the property. I'm really now focusing more on short term rentals and getting involved in that space and so that's a totally sort of different calculation. As far as like cash flow goes, you're looking at a gross annual number as opposed goes to a monthly cashflow number. And so I'm willing to take less in terms of cash on cash return in those instances, because the purchase prices are higher, and so the actual cash flow dollars that I'm ending up with each month tend to be higher, but on a percentage basis as a percentage of how much money I'm putting into the deal, they are not as attractive as they used to be, or as I used to demand that I that I hid. And part of that is because I am just no longer in growth mode. I don't need to grow as aggressively as I have in the past. And so I'm okay taking a not as attractive return. Because it's easier or because I think it's a good deal. I don't need to hit 7,8,9, 10, 11 13%, you know, 6,7,8 percent. That's kind of good in my book at this stage in the game.   Pierre: Cool. Thanks for that.   Michael: Yeah, totally.   Pierre: Got a quick one here. How do I get a pre-approval letter from the financial institutions for commercial multifamily as a foreign investor?   Michael: That's a really good question. It's all going to be lender specific lender dependent and so some lenders are going to say, hey, send me your bank statements send me your PFS, your personal financial statement, send me Just some background information around who you are as an individual and what your financial picture looks like and they'll write your letter on the spot that day sort of a thing, other lenders are going to be a lot more tedious about it, they're going to want to pull credit and do a bit more of a full cavity search, as I like to call it into your financial background to see how you qualify as a borrower. Because remember, commercial lenders are more so looking to the property to carry the debt as opposed to you as the borrower. But until they have the property to underwrite and to work with, it's tough to give you that letter, because they don't know what the property looks like. So they have to default to looking to you as the borrower. So it's kind of like chicken or the egg situation. If you're looking to get involved in your first commercial multifamily deal, your first commercial deal, I'm assuming you're using recourse debt, because you're under that, just assuming you're using recourse that the lender is going to look to you as the borrower, and they are still going to underwrite you as the guarantor and they'll probably make you sign a personal guarantee and so you can usually get a letter from those institutions from those lenders, if you have a strong enough financial background. So I would just chat with them and the fact that you're a foreign investor, I mean, there might be some complications are hurdles to get through there. But as long as you've got assets here locally in the States, I would imagine that they're going to be a lot more comfortable with that, as opposed to having all of your assets somewhere else overseas, that they might not be able to claw back, because you could sign a personal guarantee. But if none of your stuff is here, then they're probably going to make that's probably going to make them uncomfortable. So think about that. But have those conversations with lenders with different lenders, and ask what is it that they need from you.   Pierre: I can't add anything there. So sounds good. Also can verify if anything you said was right.   Michael: Neither can I, oh, man, this is just you know, off the cuff.   Pierre: So the next one here: What all does a property manager? Do? I have been thinking I want to self-manage, but I don't have all the contacts?   Michael: Yeah, so it's another really good question. I mean, all these really good questions. So property manager is responsible for really the day to day management of the property. So from placing a tenant to managing the tenant relationship to collecting rents or handling all the repairs for that property, they're going to handle the day to day stuff, they might even handle bigger projects, bigger capex stuff, if you're doing a remodel, they might be willing to participate in that. But that usually is a little bit outside the scope of a general property management agreement. So if you're thinking about self-managing, I think it can make sense for a lot of people it can also really not make sense for others and so I think it's important to get your head around what is involved in managing a property day to day, how much time is involved, what are the typical repair calls that come in what is your Rolodex need to look like in order for you to self-manage, if you've got a good handy person, a good plumber, or a good electrician that you can call on a whim and they can get out there within a couple of days, that's probably a good place to start. As terms in terms of what you'll likely need, having a home warranty can also actually be a pretty good way to go if you're self-managing or also, if you're not self-managing. I'm a big proponent and believer in home warranties. I just had them replace the furnace in my primary residence, which was several $1,000. So a good home warranty company can definitely be worth its weight in gold, but they often have their own vendors and so if you call them up, and you're like, hey, I've got this leak. They might have a network that you get to plug into they might send someone out there and so you might not necessarily need your own Rolodex or your own contact list for folks. Now if you'd like now, Michael, I'm not into home warranties. But I still do want to self-manage, figuring out what are like the parts of the home that tend to have the biggest issues and for my variance has been plumbing and electrical and so if you have those folks on hand, you can call them up, they can come take care of you, that's great. Versus a property manager, they're likely going to have their own folks as well, their own team, they might even have handy folk, in house on staff and so you might be getting, they might be getting better rates than you as an individual and so it's kind of like the Costco affects your property managers buying in bulk, so to speak, in terms of repair and maintenance, versus you as an individual might just be a loan shopper.   So it's important to think about what you know, what is that worth to you and also think about how much time you're actually going to spend managing the property versus what you have to pay someone else to do it. So a lot of people will say, oh, I don't want to pay someone 10%. That's, you know, I can be paying that to myself, well, if your property rents are 1500 bucks a month, that's $150 a month you're paying someone else to manage the property. If you spend 10 hours managing that property yourself doing whatever, coordinating repairs, handling maintenance requests, you're essentially valued your time at $15 an hour. Now, if that's true for you, awesome, that's a great use of your time and that's valuable and money well spent. If you're someone that you think your time is worth more than $50 an hour, it might make sense to actually just go pay someone that property management fee to do that for you on your behalf. So really varies, but that's kind of my take on it, I've always found it more efficient. Because I'm not a property manager to have someone else go and manage the property. I self-manage two properties. One is a central coast rental, that was my primary, I have a long term tenant in there, he's super easy, he's great to work with. So there's nothing that has to get done on any kind of regular basis and as part of a condo association, by the way, so the exterior maintenance, roof, painting, all that kind of stuff is taken care of. I don't have to coordinate anything. And then the other one is my private residence. It's a house hack duplex upstairs, downstairs. So we're here. So it makes sense for us to manage that as well.   Pierre: Mike, have any of your properties ever costed you 10 hours a month?   Michael: Yeah, I mean, no not those specifically not the ones I self-manage. But in terms of the ones that have it or management? You better believe it like…   Pierre: Oh, not during a rehab, but just kind of in regular maintaining your property.   Michael: A lot of the multifamily stuff. Yeah, I would say there's definitely someone is spending more than 10 people hours, you know, per property, and gets a little bit different because the rents are tend to be quite a bit higher on those multifamily because you get the economies of scale. But it's just, it's just like truth be told that worth my time, because I have to go get good at all of the stuff that they do and I'm frankly just not willing to do that at this stage. In my life and career, I have so many other priorities, and places where my time is better spent, that it just doesn't make sense for me to do that. Now, if I were just starting out, maybe a different story and I think that there is some merit to self-managing, because you learn what it takes to manage and so then you can really be scrupulous as you're talking to other property managers and evaluating other property managers and it's kind of testing them that what their systems are, as opposed to me I kind of just have taken them at their word after interviewing multiple and seeing which ones I work well with. So it really depends on who you are, as an individual, what it is you're looking to accomplish. How do you value your time and what are your other priorities? For me, it's always just made sense to give that to a manager and let me focus on other things.   Pierre: Do you think there's different tiers of property that would lend better to self-management?   Michael: A 1,000% and that's a super great question. To kind of clarify, so my property down on Central Coast, it's a long term rental, I was managing it myself as a short term rental, but it was 30 Day minimums. So it's kind of midterm and then I had a tenant asked if they can move in full time for a year, that's been super easy and so they pay a significant amount in rent. It's an easy property, it's a new word of property. 1990s build, so not a ton of old stuff and I know it, I know the property I used to live there. So I have contacts there locally. If you're talking about a rougher property, that's an older property that constantly is in need of repair and maintenance, you know, all those calls, you could get a call to have a $10 repair, you could get a call to have a $10,000 repair, but the time it takes to coordinate could be the exact same and so I think for those little kind of death by 1000 cuts type of stuff. Those are much easier to give to a property manager. Also in areas that you have high evictions or high tenant turnover. That can be easier to get to property manager because chasing down these folks to deal with the court system, which is a local court system which will be different than from that watch where you live. Figuring out all these nuances could just be too much hassle more hassle than it's worth. That being said, I mean coach Dean as part of the Research Academy, he lives in South Africa. He used to live in the States but he invests In the Midwest, he, he manages himself, he manages everything himself remotely from South Africa and systems and teams in place to help him do that. So that worked really well for him. So it's not that you can't do it, you just have to really figure out, where's your time best spent? What do you enjoy doing? I mean, he seems to enjoy that kind of stuff, so that's great. You know if that's if that's your kind of personality, more power to you.   Pierre: Yeah. So ironically, the short term rental, which has the highest turnover, and much like an elevated level of maintenance seems like a lot of the people in that short term rental space are doing their own management. Are you self-managing your short term rental or do you have a property management company for working for you?   Michael: So the ones out in Tennessee?   Pierre: Yeah.     Michael: Yeah, so we've got a management company handling those, we're debating taking over management of one of them. If we do it, probably one of the one. Again, it's just something that our time, when I say arts, collective art, my wife and I, our time is spent out better elsewhere in our opinions, we find that our time is gets us a halt a higher return elsewhere. But you're right, a lot of the short term owners are self-managing and I think it's because a big part of it is so much of it is centralized and when I say it, like the management of these things, so many, like, when you get a new tenant from a long term rental, that 10, it could come from them walking into the property manager's office, from Zillow, it could come from hot pads, there are so many other there are so many different locales in which an inbound lead can come in from, and you've got to handle that inbound, lead and talk to them and screen them, and then give them a tour of the property. So there's a lot involve a lot of steps involved with getting a new tenant physically placed into a property with a short term space. I mean, they're coming through on a couple of different channels, Airbnb, VRBO, maybe direct, but all of that communication is handled centrally, there is no touring of the property, everything is listed online, there's no background check, what are those should be background check, but not in the same capacity as that of a long term tenant and there are just a little bit more protections in place through these channel managers and through these sites, versus that of I have to go understand the lease the state lease that's used in Kentucky, and I have to understand how an eviction works in Kentucky, like oh, that mostly goes out the window when you're using shorter midterm because there is no lease there is no courts involved, it just becomes a lot more transactional and when you have transactions that's just easier to manage, I think is what most people are finding and then there are companies that are built around supporting these types of businesses, they short term rental businesses, so channel managers, and cleaning companies and maintenance companies that you can kind of farm a lot of this stuff out to. So you don't have to be the one picking up the phone every time calling to handle these repair items. So I think that's why that's the case. That's my thesis.   Pierre: Yeah, there's a lot of tech enabled, you know, with Airbnb and with VRBO. Is that what it is?   Michael: Yeah.   Pierre: Yeah, there's a bunch of plugins that are apps that connect to both of them and just kind of handled the booking process and they rely heavily on their cleaner as the boots on the ground and eyes on the property. So, it's pretty cool. Yeah, save, I mean, saves a pretty big chunk. I think 25% is common for the management on short term.   Michael: It can range from 25 to like, 20 to 30% of gross rent collected and so we had Avery Carl on the show a while back, and she was like, yeah, if I was paying someone 20 30% That's like 200 grand. So I'm gonna pay myself that and so in that instance, you know, it's kind of a no brainer. But what for folks just getting started out, you know, I think everyone has to weigh, weigh their options and figure out what is their time worth and what are they willing to give up for that peace of mind and not having to worry about stuff.   Pierre: Cool. I think we hit that one.   Michael: I hope so.   Pierre: Let's All right, next question. Within three months after closing on our new property, we had to purchase an HVAC, roof, furnace, all which were not anticipated. How do we improve our process for see these unknown issues?   Michael: Yeah, it's welcome to the club. First and foremost, it's a it's a bummer of a club to be in, but we've all got some good worse stories like that. So I think you're first off approaching it from the right way and saying, okay, how do I do better the next time and I think it all comes down to your due diligence and your inspections and so I'm hoping that you had an inspection looking at the roof looking at the mechanicals and the systems of the home and there are also like specialized inspections that you can get for those type of things. You can have a specific roofing inspection you can have a specific, HVAC inspection and you've got to pay for those. But I think that that's often money well spent and it's something that I've done on a lot of properties. I just got burned by this on a short term rental I bought, it has this was a short terminal that has a hot tub in it and the jets apparently aren't working properly by and I closed on the property right and so that's on me for not having known to go turn on the jets, we had turn on the heater and the heater works. So I, you know, it's new for me. So I didn't know to do that, so I think as you get further along in your career, and you talk to other investors about the different systems in place in a home, you just organically learn about different inspections you can do on a home and so just physically inspecting the H back with a qualified technician who can look at the inner workings of an H vac system, and hopefully identify issues before they become issues or as they have arisen before you purchase the property and then you can go back to the seller negotiate and say, Look, there's this issue with the H factor. It's x many years old. I mean, the other thing to do is just look at the age of these systems and hopefully that gives you a little bit of insight into the remaining useful life. Roof isn't a pretty good one, if they someone at the general inspector goes is yeah, the roof looks like in good shape. But you know that it was built in 2000? Well, you know, that roof is 22 years old roofs tend to have a life anywhere from 20 to 30 years, depending on the condition and kind of physical climate that they're in and so think to yourself, okay, I've got eight years left on this roof. What does that mean, how much is the cost to replace? Do I want to negotiate even though the roofs in okay shape right now do I want to negotiate with the seller, hey, it's gonna have come time to replace this thing in eight years. Those are discussions that you want to have with your agent and you want to be thinking about what those costs in terms of replacement or repair. The other thing you can do is investigate a home warranty. I mean, this really came full circle the home warranty conversation, I should like go work for home warranty companies like I could get Commission's or something. But these are like the devils in the details in terms of these companies and for your H vac your furnace and your condenser. If you had a home warranty in place, they usually have a 30 day waiting period, after that 30 day waiting period is up, you can make claims for anything that that's covering. And they tend to run excuse me like three to 600 bucks a year and on older properties with older mechanicals, they can be a really great investment and for at 400 bucks a year, you go 10 years, that's four grand to replace my furnace was 5700 and they covered 4200 of it and it happened like four months after I bought the property. So you got a pretty long runway in terms of your print your annual premium payments, still being worth it to in order to make a claim and so I would investigate that and you can often request that from the seller, have the seller pay for a home warranty for a home warranty and if they balk at it, just buy it yourself or ask your agent to pay for it depending on the price of the property. But it is often a great investment and so long answer short, I would say due diligence, look at the different types of inspections you can get on a property coupled with a home warranty to reduce your exposure and then thirdly, negotiate with the seller and look at the age of the systems of the home.   Pierre: Nice. Mike, is there anywhere that people can go to learn all these things to be a successful real estate investor?   Michael: Yeah, I would say come check out the Roofstock Academy. This this is all information that we talked about, we've there was really developed for investors by investors by all the mistakes we made over time and we put it together and said, hey, what's all that stuff we wish we had known when it first got started in investing, how to avoid pitfalls, what are things that are important to be thinking about years down the road that weren't even on our radar as we got started investing, we bundled up everyone for everyone and put it together and look don't get me wrong, like all this stuff is available online for free. You could go find it yourself. I spent two years doing self-education because we've talked wasn't around. At the time I started investing Roofstock Academy was not around, Bigger pockets wasn't around, like this stuff is out there. It's not like we're selling the secret sauce or teaching anyone the secret sauce of investing. But what we have done is we put it together in one digestible place and then we pair it with one on one coaching and that I think is one of the biggest keys to success in this space is having someone in your corner alongside you figuring out helping you figure out what makes sense for you. Because I don't know what it was about me personally, but like I did a lot of classroom training at my last job and that was having a really hard time applying that in the real world because I was like, yeah, well, that situation I read about or I learned about isn't exactly the same here and so I was having difficulty applying the logic or the knowledge. Same thing goes for investing, like you can read about stuff and you can hear about stuff. But when it's your own personal dollars, it maybe becomes a little bit scarier the situation you find yourself in might not be exactly the same as what you learned about and so having someone that's seen over the that mountain that can help you help, you know, let you stand on their shoulders, so to speak, to use a metaphor here can be really helpful and so that's I think we're some of the best value and biggest wins come from is that one on one coaching that folks can get as part of the Roofstock Academy. So yeah, I'd highly encourage him to come check us out.   Pierre: Excellent. Well, we got a ton of other questions here, but I don't know if we'll have time for them today. So I think the Roofstock Academy plug is a good place to call it up.   Michael: Well, we will be sure to get to the rest of those ama questions on a future episode. Thanks, everyone for sending those in. Thanks for hanging with us through this episode. Hopefully you enjoyed it got some value. We love hearing from you all we love these ama questions, so feel free to leave us a comment with any questions. Leave us a comment with a review, leave us a comment with things that you'd like to hear more of and we will work to deliver that for you all as always, we look forward to seeing on the next one and happy investing.   Pierre: Happy investing.

Lab Coat Agents Podcast
The Startling History Of Minority Agents, And The Leaders Closing The Gap-with Cheri Benjamin- EP 167

Lab Coat Agents Podcast

Play Episode Listen Later May 24, 2022 54:33


On today's episode, host Jeff Pfitzer talks with Cheri Benjamin  about her life and journey of how she got into Real Estate. She is now a member of a new platform called ‘Closing the Gap'; It is about bridging the generational divide. Cheri regards every agent she meets as a new or existing leader. She emphasizes how if you are just entering the industry, you are a leader and that is the mindset you must have. Tune in now.   Episode Highlights: Cheri owns a brokerage firm and their headquarters is in Atlanta;  They have around 400 agents. They are in Georgia, Florida, Maryland, DC, and Virginia and they are in the midst of expansion.  What a lot of people aren't realizing is, over the next couple of years, you are going to see a lot of contraction, and especially in the mortgage business and it's going to happen in the real estate business, says Jeff. Real Estate is a business where you are growing your vendors or your partners.  You do need to find people with the right mindset and have the partnership mentality, because that is the key, says Jeff. Cheri talks through different types of deals and how you should be approaching them. What happens if you advise your client to shop? Cheri's sister's brokerage called Cole Realty Group, started this with Zillow. A lot of people don't realize that the panel speaker is actually a Zillow coach. “Less than 5% of agents are black and brown in the entire United States”, Cheri states. Jeff was at the National Association of Real Estate brokers. He loved it.  We just have a lot to catch up with all of that lack of education. What about marketing events? Cheri' shares about a friend of hers  and his approach to them. Cheri had a team of 46, and that is a lot to manage. It's much easier for her to have a brokerage of 400 than a team of 46- It's all leverage. What does leverage and at the brokerage level? Cheri's biggest year in growth was from her New Year's resolution. She always made her New Year's resolution in October because that is part of her business planning and her life planning, and everything else.  Diversity in all forms is beautiful; That is how we learn, and that is how we grow. 3 Key Points: The Real Estate industry is very old school and there are a lot of old school leaders teaching new school agents the wrong way. Jeff and Cheri discuss the differences. The politics behind business and politics behind Real Estate affects investment and communities.  Right before COVID hit, Cheri bought this company. It was a lot to take on, but they have grown it. She shares about the journey.   Resources Mentioned: Lab Coat Agents | Website | Facebook | Facebook Group | Twitter | Instagram  Jeff Pfitzer   | Instagram | LinkedIn | Twitter Follow Up Boss (Sponsor)  Street Text (Sponsor) Cheri@villagepremier.com https://www.instagram.com/cheribenjamin/?hl=en https://www.facebook.com/cheriballen    

The Bitboy Crypto Podcast
Booming Real Estate Market Gets Crushed (Web3 Disruption Imminent)

The Bitboy Crypto Podcast

Play Episode Listen Later May 23, 2022 13:53


Web3 is gaining momentum and virtual real estate is at the forefront of the movement. In this video, I sit down with Justin and Bryan from Meta Money to discuss the rise of digital land ownership, how the blockchain can improve modern real estate processes, and what the future looks like for the housing market.

Real Wealth Real Health
What Does a Commercial Real Estate Broker Do?

Real Wealth Real Health

Play Episode Listen Later May 20, 2022 47:11


Zach Roesinger explains why CRE brokers are so important and dispels some common misconceptions about his work. Many real estate investors don't even think about the role brokers play in the commercial real estate process, but a great broker can mean the difference between a solid, properly vetted deal, and one that falls apart at the finish line. In this episode, Zach Roesinger shares an inside look at the role CRE brokers play in the industry, discussing topics like the fiduciary duty of brokers, the importance of integrity and relationship building, and the licensing process for all brokers. Zach also describes the process of becoming a successful CRE broker and offers advice to listeners who are interested in exploring this career. Zach Roesinger is the Co-Founder of the CRE Pro Course, and is the Director of Real Estate Acquisition and Development at Galvanized Holdings, LLC. He specializes in opportunity zone real estate acquisition, entitlement and zoning, and construction management of new build projects, as well as 1031-Exchange consulting and third-party capital placement in quick service restaurants and franchised businesses by providing risk-adjusted returns to investors. As a sales leader for Trulia and Zillow, Zach “cut his teeth” outbound cold calling ( >250 calls/day), closing large deals with some of the largest brokerages and real estate teams in the United States. Key Insights: Commercial real estate licenses How to break into commercial real estate brokerage To list or not to list a commercial property Why integrity matters for brokers Becoming an expert on different property types The one-to-many mentality Subscribe to this podcast to build your healthy financial foundation through expertise, insights, strategies, tactics, wisdom, and inspiration from Alpha Investing's community of professionals, advisors, investors, and members: Apple - Spotify - Google - TuneIn - Stitcher - iHeartRadio Guest Bio: Zach Roesinger is the Director of Real Estate Acquisition and Development at Galvanized Holdings, LLC. He specializes in opportunity zone real estate acquisition, entitlement and zoning, and construction management of new build projects, as well as 1031-Exchange consulting and third-party capital placement in quick service restaurants and franchised businesses by providing risk-adjusted returns to investors. Zach has traveled to over 100 countries and worked on 5 continents for companies like LVMH, Newmark Knight, Cloudera, and Montegra Capital. As a sales leader for Trulia and Zillow, Zach “cut his teeth” outbound cold calling ( >250 calls/day), closing large deals with some of the largest brokerages and real estate teams in the US. A polyglot who is fluent in Spanish and Portuguese, Zach has built sales teams that leveraged automation and proven sales techniques, teaching heavy hitters to focus their efforts on out-of-the-box solutions to complex commercial real estate deals to provide their customers and clients with unparalleled sales experiences. Resources: Real Wealth Real Health Alpha Investing podcast@alphai.com CRE Pro Course Connect with Zach on LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

How to Scale Commercial Real Estate
Getting Outside of the Spreadsheets and Delivering Value Above and Beyond

How to Scale Commercial Real Estate

Play Episode Listen Later May 20, 2022 21:55


  Today, we welcome Zach Roesinger, a commercial real estate broker, syndicator, and CEO of CRE Pro Course. Zach is also involved in a lot of obscure deals which he discusses in this episode. With all of these things on his plate, he's able to make it work by building scalable systems and delegating effectively. He also shares the value of actively going out, taking whatever opportunity is out there, and putting yourself in front of people.   Zach specializes in Opportunity Zone real estate acquisition, entitlement, and zoning, as well as construction management of new build projects. Specializing in 1031-Exchange consulting and third-party capital placement in QSRs (Quick Service Restaurant) and franchised businesses by providing risk-adjusted returns to investors.    He has traveled to over 100 countries and worked on 5 continents for companies like LVMH, Newmark Knight, Cloudera, and Montegra Capital. As a sales leader for Trulia and Zillow, Zach “cut his teeth” outbound cold calling [ >250 calls/day] closing large deals with some of the largest brokerages and real estate teams in the US. A polyglot (fluent in Spanish and Portuguese), Zach has built sales teams that leveraged automation and proven sales techniques, teaching Heavy Hitters to focus their efforts on out-of-the-box solutions to complex commercial real estate deals to provide their customers and clients with unparalleled sales experiences.     [00:01 - 10:01] What Keeps You Going? Zach shares his background, CRE Pro Course, and his other ventures How he's able to focus on his multiple businesses Identifying tasks that you're uniquely skilled to do Standardizing procedures Having the right people in the right places Why Zach prefers to personally go out and do listings Picking up new properties and projects Meeting and talking to people, especially the workers onsite The way that you advertise is by doing a good job   [10:02 - 19:55] Be The Master of Your Domain Zach discusses his racetrack business and targeting buyers for nuanced properties Exemplifying that you are the expert in the space Make it easy for your clients and contact to complete the task you want them to do Eliminate steps Zach's recommended app   [19:56 - 21:55] Closing Segment Reach out to Zach!  Avoid pitch slapping Links Below Final Words Tweetable Quotes    “Put the right people in the right places, and make sure that they're happy and well-compensated for doing what they do, and that they're held to the certain standard that you know, a winning team is going to be held at.” - Zach Roesinger “It's really just going to be what is exciting and appealing to you, and what keeps you keeps you going and gets you going every day.” - Zach Roesinger “One of the most fun parts about brokerage and actually selling something is going out, hanging out with the dudes with the welders that are just in overalls. Those are the best people to actually get some insight from.” - Zach Roesinger -----------------------------------------------------------------------------   Connect with Zach! Follow him on LinkedIn. Visit the CRE Pro Course website if you want to know more about the work they do. Check out his podcast, Coffee with CRE Closers.   Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: Zach Roesinger  00:00If you had considered selling your racetrack, but you had never told anybody about it, but you didn't want to be the guy out there waving his hand saying, Oh, I'm selling my racetrack. I'm selling my, if you want somebody else to be out there marketing it for you, it just brings a prestige to your market. It allows somebody else to actively go out and get those while you run your race track, and it creates this buffer.   Intro  00:23 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.     Sam Wilson  00:33 Zach Roesinger is a commercial real estate broker. He's the CEO of creprocourse.com. And also a real estate syndicator. Zach, welcome to the show.   Zach Roesinger  00:43 Sam, good to be here. My man very much appreciative of you and thanks for having me on.   Sam Wilson  00:48 Absolutely, pleasure's mine. Three questions I ask every guest who come to the show. In 90 seconds or less, where did you start? Where are you now? How'd you get there?   Zach Roesinger  00:55 Great questions. I'll start now. Clock go. I came from Denver, Colorado. My father is a real estate broker did land and big deals throughout my childhood. So I was brought into commercial real estate early, understand the cyclical flow of it, and how some days can be really great and other days can't. You have to come back to your family every day with a positive smile on your face when things are great, when things are not. I've traveled to over 100 countries around the world. Live now in Austin, Texas. And as you mentioned, I am the CEO of CRE Pro Course and CRE PRro Course is an online course that allows or teaches new agents who have yet to close their first deal to get their first listing and the first closing in the first six months so that they can bridge that gap and between coming over from residential real estate maybe or, or they're getting into it from another field altogether. So sometimes it's hard to get into commercial real estate because the closing time for your first closing is so long, most people can't last that long. But we teach you how to do it in your first six months. Some people do it in two months. So I also work in syndication, and I work in brokerage as well. So I sell warehouses, very obscure things a race track I have on a car dealership, a recycling center. So I really liked the obscure deals, and I'm always looking for more. So Sam, let's get together and do a deal soon, man.   Sam Wilson  02:14 Sounds like a winner, man. That's a lot of fun. And also a lot of different moving parts. How do you choose which one to focus on?   Zach Roesinger  02:22 Great question. It's funny because I have employees, and I work for people in each of these companies. And they say, you know, it's just mind blowing, Zach, I can barely keep one job straight, you know, throwing all the balls in the air and keep throwing them up. And it's just time attention to a particular task and importance, right? I attach a beta to every task that I'm doing. Is it really important? Do I need to do it now? And can somebody else help me do this? So as we talk about a scaling real estate venture, it's really important to be able to identify those tasks which you're uniquely skilled to do. that your company relies on you for and then make sure that you can, that you could probably do most tasks in your company, Sam, it's really helpful to be able to standardize those tasks, and then create a procedure around them and then have somebody who's maybe better apt to doing them actually follow through with it. So a good example is real estate flyers, right? When we get a new listing, you and I could probably sit down to InDesign or Paint program and come up with a really good-looking flyer, but is that the best use of six hours of our time? For me, it's probably not there are other people, my team that are really good at it. But they need to know what goes on there. Because they're really good at design, but they're not in the day to day, right, they don't understand the intrinsic value behind what I'm trying to sell in the commercial property. So it's really important to be able to scale out a business. And the way you do that is by standardizing, creating procedures, and then replicating yourself and really focusing on the things that you're good at. And more so on my teams. I know that there's some like I call them whale hunters, right? Some of the brokers that work for me, they are really, really good at closing deals opening, they're really good at relationship management. They're terrible at paperwork. So I don't want them doing paperwork, it's a bad use of their time, it's bad use of our resources. There are people on our team that are really good at it, right, you know, they're wizards at CoStar, they're wizards at Crexi, they can draft again, they can draft a flyer that makes just like, it's mind-blowing. But for them to do that, we have to have people going out, we have to have team members going out and actually getting the business without the whale hunters out there finding new deals, there's nothing for the rest of the team to do. So it's my goal as a manager or as a teammate, or anywhere in the organization is to put the right people in the right places, and make sure that they're happy doing and well-compensated for doing what they do, and that they're held to the certain standard that you know, a winning team is going to be held at. And if there's a breakdown, if there's an issue, if there's a bottleneck, we as managers, Sam, it's really important to be able to identify those and clear the bottleneck. So a lot of my time is spent addressing what works, what doesn't and how to standardize and scale those things which do work.   Sam Wilson  05:05 What about your current mix of of businesses, keeps you going out and still actively doing listings? It seems like that would be one of those things. As you're talking that you would say, Hey, wait, just from an efficiency standpoint. If you have a team of brokers, you guys take this you guys go list it. Why are you still involved in that side of it?   Zach Roesinger  05:22 I was asked my father this same thing to why does he not become a director or sales manager. I just think it's a really fun, I can be a little bit more selective on what I take now. But I tell all of our newer guys like take whatever is out there. Somebody that you used to go to college with, we run into them at a restaurant, they say, oh, yeah, I own this restaurant, thinking about selling it great. Let's figure out how to, you know, get you in the door and show you how to list that. Now if you decide you don't like restaurants listing restaurants, well, then we'll try it one time. If you don't like it, we'll move on to something else. But always be willing to say yes, in fact, earn the right to say no. And I know that Steve Jobs and there's others that say Warren Buffett that it's more important, the things you say no to than those that you say yes. However, when you're first starting out, I mean, you want to try, this really pertains to listing, I have oftentimes a listing agent or a newer agent that says, Well, you know, if I can't sell it, what happens? And I said, Well, okay, then you spent some time learning about a new field of study, you practice something new, you met a new potential client who is going to exude your praises, because the property didn't sell that's part of your fault. But also there's a lot of other factors that are out there. And I was referencing before the economy right or just you know, the hot topic of the hour. Here in Austin, we're starting to see a lot of resurgence back to an altered office. So and I say that by I come from Denver, Colorado, and I worked on this project called The Taxi Project, which is taking old warehouses and refurbishing them making them cool offices. Well, I just saw yesterday that I'm now big on TikTok, I'm @cre_pro_network on TikTok. When I saw on TikTok, this guy was highlighting an office building or a new office I called them warehouse, I think warehouse office buildings that were going for top dollar. And I think that that's going to be one of those things where historically, it has been a office building, everybody gets in an elevator and goes up. And now people are saying, you know, I kind of want a hybrid office. These cool, chic new buildings are pretty cool. So to answer your question, it's really just going to be what is exciting and appealing to you. And what keeps you keeps you going and gets you going every day. For me, it's not repetition. And it's not necessarily the money I don't really like when it becomes repetitive. You could sell the same, you know, warehouse over and over again. But is that really that exciting? So picking up new properties, picking up new projects, meeting new clients, one of the most fun part about brokerage and actually selling something is going out hanging out with the dudes with the welders that are just in overalls. And I'm an Italian leather suit. And they're there's this guy over here and I'm like No guys, like I really want to know, what do you, tell me more about this property, tell me more about what you like, and what you don't like, and what you would change. And so there's sometimes that's like those are the best people to actually get some insight from are people that are working and living there every day, not just the expenses and the NOI and the cap rate of it, but actually saying, Hey, I don't know if you know, to a new, let's just say a prospective buyer. I don't know if you saw this over here. But this is a unique feature that you won't find anywhere else. And I wouldn't have noticed it unless I talked to the guys who were on the shop floor. So that's what I really liked about brokerage is actually meeting and talking to people, getting outside of the spreadsheets and delivering, delivering value above and beyond. And I know it's cliche to say but that's how our business I think really scales out is that the way that you advertise is by doing a good job. If you're in residential real estate, you have a big billboard or you know you're on the side of a bus or something like that. But in commercial real estate it's completely reputation when somebody goes to sell their recycling facility and they're like, I don't know anybody in commercial real estate in their their country club or their you know the baseball game and they say oh yeah, Zach Roesinger, I know that guy. He sells just about everything and he was really good. Ge got us top dollar or he did a great job marketing. So all of the above and it feeds into itself Sam I would say that it's just much like your businesses that as I do CRE Pro Course and I have had a chance to launch our television show and we have Coffee with CRE Closers, my clients and some of my best clients today actually were guests on my show just much like this. I had them come on, talk about what they did they got to ask questions about commercial real estate. People gave me social proof by being the, you know, leading this TV show and so when they went to go sell their building, they said you know there's only one guy I can think of the guy keep seeing on YouTube and you know Facebook Live and LinkedIn live, that Zach guy. He sells real estate so they cross pollinate.   Sam Wilson  09:57 Man, love it. I love it. A lot of moving pieces there. Let's talk about these nuanced properties. How are, I mean it's one thing to find okay, you know, I'm beat on multifamily quite a bit because I'm kind of bored with it, to be honest, talking about getting bored, but it's like ever. You could find a million buyers for multifamily. I mean, you could be the worst broker in the world. Nothing you could move a multifamily property right now. I think it's a lot easier to move something such as a multifamily property. I'm presuming here. Over something much more nuanced, like a race track?    Zach Roesinger  10:30 Absolutely.   Sam Wilson  10:31 How in the world are you even finding are targeting the right buyers? Because not like, it's not like people are just hanging out on on LoopNet or Crexi. What are you...   Zach Roesinger  10:41 Well, I often think the same thing. And then I think to myself, well, it's a niche product, right? It's much easier, I believe, than selling a multifamily property, because there are only so many ferrous and non ferrous metal reproducers in this planet, and they all know where my client is located, like they do business with this person. And so it makes it very easy that no one's going to get out of a completely different business and just try their hand at a $25 million operation. No, no, they do it right now they're just looking to expand their operations. Yes, identifying the right one, that's a little bit more difficult. And because of that, we enter into a pretty ironclad agreement with the seller, because oftentimes, I say this sort of ingest, but a lot of our job in brokerage, I believe is to come in as a third party and well market a property which you may have thought was for sale or not. But I'm the one who validates that. So if you had considered selling your race track, but you had never told anybody about it, but you didn't want to be the guy out there, waving his hand saying, Oh, I'm selling my racetrack, I'm selling my, if you want somebody else to be out there marketing it for you, it just brings a prestige to your market, it allows somebody else to actively go out and get those while you run your race track. And it creates this buffer. So if you didn't want to sell to somebody, for example, you don't have to address them directly. Because I'm sure in the race track world, for example, it's pretty small, you're going to see that person again at the next race track owner meet up or whatever. So that's what's the great part about having a broker. And I think the other part of it is that as the marketing, I really think that for us, and in order to scale, it's always been an issue with, you know, you don't just stick a sign in the yard anymore when you're trying to sell commercial real estate, you actually have to be pretty dialed in in terms of the ability to replicate and scale. And I think that's much a testament to your show here, Sam, and I come out of commercial or I come out of computer and software sales. And those guys really have it dialed in. I moved from Brazil, up here to Austin to go through an IPO with a company called Cloudera. And the company's they've taken a billion dollars in investment at that point, a company that has a billion dollars in their only objective is to get on as many companies, fortune 500 companies as possible. They're going to spend whatever it takes in terms of software and scaling and, and replication and automation, in order to make sure that their salespeople are utilizing their time the best so that they get the most orders so they get the highest stock price when they do go public. So I just take a page out of the book from the software salespeople in that you want to be, just like you're doing here, Sam, which is a one-to-many approach, allowing people to engage with you when they're ready. But exemplifying that you are a master of your domain or what you're trying to put out there into the world to say, here's who Zach Roesinger is, here's who Sam Wilson is. And if you want to do one of these things, if you want to buy or sell a race track, I know the guy but I'm not calling the people that are selling and buying racetracks. They're calling me because I've talked about it or because somebody said, Hey, do you think this thing is ever gonna go up for sale, or maybe I just got it out there with my marketing team to some degree, and somebody says, Oh, I saw this on Facebook the other day, or I saw this on a Google ad the other day, or I saw a video on this the other day, we may want to buy this asset or we may want to talk to the guy who's trying to sell it. And there's only one of me out there. So I think that's a lot of what it required which is the one-to-many philosophy and then allow people to engage with you but make it very, very easy. I want to highlight one of these things that are might be embarrassing you but you do the same thing on your podcast as I do on mine, which is make it really really easy for your guests, make it really, really easy for your clients and your contacts to complete the task that your objective or your goal is. And I reminded of that this morning when somebody asked me can you write a recommendation for me on LinkedIn because I'm trying to get a job at this brokerage and I said I would love to. I first of all don't have the bandwidth to think that hard through it and look through like what you've been doing over the last few years but I liked you and I'll do it for you, make it really easy for me. Tell me who it is, provide me an email of what that looks like and what you would like me to do. I am more than happy to. I'll edit it. I wouldn't say anything that I don't mean. But it's going to be the same, it's going to be, hey, this guy, Johnny is a great guy, have a conversation with him, Bobby, if it works out great. And if it doesn't, that, you know, it's just another connection for you, but do it as a favor to me, right. And the only way that you know he's going to get that meeting maybe is if I write that letter, but I'm not going to remember to do that after the 97 things that I have to do. So make it really easy for somebody. The same thing on on an email, make it a clickable link, right? If I put up six listings on Friday, and I created or I had my marketing team create six different bullets, six different web pages with six different information sheets on it, so that if I had to give it to somebody, or if I had to give it to, you know, send it out to a few brokers I thought might be interested, I could just send them this, they could click on it, it has a way a call to action at the bottom, makes it really, really easy. But don't make somebody work harder than they need to because they won't, right.    Sam Wilson  15:56 That's absolutely spot on. That goes for reviews, LinkedIn recommendations, man, and everybody asked me for something like that I say you write it, send it to me, I'll make my tweaks. I will, it'll come, it'll be from Sam Wilson, but you're gonna write it and I'm gonna just edit a few little words here and there, make it authentic. Because again, as you said, I'm not gonna say anything. I don't mean, and I'll delete it if I don't mean it. But make it easy for me. And that goes for listings, that goes for onboarding clients in you know, investors, I'm dealing with a thing today. And I'm like, Oh, wait, that link is gonna take them here. And then they got to know we're not doing three steps. This is one step. One step, give me your money.   Zach Roesinger  16:31 I believe it's Occam's razor as well, right? Make the path of least resistance, the most apt choice and why I say that is at the end of Coffee with CRE Closers, my podcast, I say how can people get in touch with you, but I pre warn them and say, hey, look, have something loaded up. But make sure it's not temporary, right? Don't give me your Clubhouse username, or whatever it is, you know, like, it's something that might not last the test of time, or may not even last as long as this you know, as this podcast or my podcast or whatever. But do something that like is where you're heavily followed. So if it's LinkedIn is where you do a lot of business, but you're trying to grow your TikTok, and I'm speaking personally, because I'm trying to do this right now. I'm big on LinkedIn live, but I'm really small on TikTok live. Yeah, so I tempt myself to say, oh, I can build my audience by sending them to my TikTok channel. Well, if tick tock doesn't work out for me, I know LinkedIn will long term like that's just where business gets done, but don't sacrifice in the short term. Really, you can build your audience organically on tick tock, and you can mention it may be but stay with the channel where you're going to deliver the most value. And then once they get there, once they're on LinkedIn, which you know, has 20,000 People that follow you sure mentioned it on there as well, right? Then they can redirect and go to TikTok. But when there's too many steps, Sam, if you ask somebody to endorse you, here, here, here, here, here, I get like one or two maybe, and then I'm like, okay, like I'm endorsed out, I want to do this for you. And if there was one button, I could push that would syndicate across all of them, I would do it. I wish it would post to all of them. And it there may be something out there where people are going to email in to your program here and say, Oh, well, Zach, you should use this really great plugin, which, you know, that's, that is one of your questions on your sheet here. And I want to I think that knowledge is power. And the more resources we can get out there, the better my number one tool for commercial real estate or real estate in general. And I think everybody should look into this because it's not that expensive. It's maybe $100 A year is one called LandGlide. It's really just the shortcut way. It's available on iPhone, and maybe Android as well. It's in the Apple Store. So maybe it's just anyways, what it allows or what it does is it systematically organizes on a map all of the CAD data so the Central Appraisal District data, it's also kind of a cool parlor trick, right? If you're driving down the street and someone says, Hey, what do you think that house is the value of that house is well, sometimes it's hard on Zillow and Trulia or Redfin or something to like, dial in on that then it's like speculative. It's the Zillow price or Zestimate. This one is actually just the appraisal district and how much of the land is used for agriculture and how much is you know, for the residential, how big is the house square footage? It's all the stuff that's in the Central Appraisal District, but it's just in a very easy to read format. So it's one of the few apps that I pay for, and I relish try to offer that as much as possible to someone who, particularly if you're driving in a neighborhood, you're like, Oh, I really like this neighborhood. I really would love to purchase his building. How do I get in touch with the owner? The owner is written right there, right like it maybe it's an LLC, or maybe it's a business entity, but that's really, you know, go to open corporate.org or calm. You can find out what the phone number is who the head of who the board directors are. It's one more step but it's also like if you really want something you're gonna have to put in some effort. This just eliminates about 10 of the steps going with LandGlide, so I heavily endorsed them outside of my own software which is creprocourse.com. Plug it.   Sam Wilson  19:56 On that note, Zach, what is the best way to get a hold of you?   Zach Roesinger  19:59 I am Z-R-O-E-S-I-N-G-E-R on LinkedIn. So I'm Zach Roesinger. Find me on LinkedIn and what I was asked him and encourage you to do the same. It's hard for me to always put together exactly who is the best contact for you. So tell me who that is. If we connect today, and you say, hey, great to connect, do not, we call it pitch slap. Don't pitch slap me. Don't tell me how I need auto insurance or, you know, we should jump on a call to find out whatever my car warranty or something. Yeah, let me know how I can help you out. And that's not necessarily going to be buying your product today. But if it's an introduction, I'm more than happy to do that, even if we just connect, because that's what LinkedIn, I believe should be used for. It shouldn't be used for selling, it should be used for connecting, providing connections is what we do, Sam, it's one of the biggest things in commercial real estate, we've connect a and b and we get paid handsomely for that, or at least we solve the connection problem between A and B. LinkedIn helps me do that because it shows me what your skillset is. And it also shows me where it allows me to connect you directly to your next big investment or your next client.    Sam Wilson  21:09 Love it. Zach, thank you for coming on the show today. I certainly appreciate it.   Zach Roesinger  21:12 I really appreciate it. Please come on Coffee with CRE Closers or follow everything. We're doing it creprocourse.com. I really appreciate your time today, Sam.   Sam Wilson  21:21 Thank you. Yeah, we'll certainly make sure put that in the show notes creprocourse.com. Thank you, Zach. Appreciate it.   Zach Roesinger  21:27 Yeah, man. Thank you. Thank you to audience.   Sam Wilson  21:55 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.

GANGS OF AMERICA STREETS OF AMERICA
live_Cyber crimes cyberbullies and pimpin you out_20220519_141422.aac

GANGS OF AMERICA STREETS OF AMERICA

Play Episode Listen Later May 19, 2022 35:33


Playback of live cast doneThursdayThursday, May 19 covering crimes against humanity crimes against the government, impersonating law enforcement, manipulation of judicial system. Applyaloe, switxhboxinc, drweb, Zillow, greatschools, and many other business fronts this organization has used to profit from theft. Intellectual property not being included but brain raping people is giving them access to all your memoriesYour hopes and your dreams who's gonna get first dibs you were them? Havana syndrome

HousingWire Daily
Compass' first-quarter trouble and the REX shutdown

HousingWire Daily

Play Episode Listen Later May 19, 2022 24:50


On today's episode,  RealTrends Editorial Director Tracey Velt is joined by HousingWire Senior Real Estate Reporter Matthew Blake. They talk about some of the insights gained from Compass' recent first-quarter earnings amid reported losses and leadership shakeups. They also talk about the feasibility of prosecuting RESPA violations and give an update on discount brokerage REX's supposed shut down amid their litigation against the National Association of Realtors. Articles related to this episode:Compass CFO steps down following tough Q1Beach trips and other challenges of interpreting RESPAREX lays off most of its employees, sources sayREX closes brokerage, hires David Boies in Zillow lawsuitHousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by Sarah Wheeler and produced by Elissa Branch.

Dishin' Dirt with Gary Pickren
Dishin' Dirt on Are We Staring at a Housing Bubble that is About to Burst?

Dishin' Dirt with Gary Pickren

Play Episode Listen Later May 19, 2022 29:57


Inventory is ridiculously low.  House prices are soaring and interest rates have gone up 2 percentage points in the last few weeks. Are we facing a real estate bubble that is about to burst?  Is this 2009 all over again?Today we examine what the experts like Fortune, Forbes, MarketWatch, Realtor.com, Zillow and others are saying about the state of the real estate market as we enter the summer months.Don't forget to like us and share us!Gary * Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area. 

Wet Jeans
Selling Your Body On Zillow, Sleeping Naked, & Piña Coladas

Wet Jeans

Play Episode Listen Later May 18, 2022 44:22


Sperm banks, the Bahamas, committing a murder blacked out, NHL playoffs, and more!!! For more episodes and other content, join our patreon at www.patreon.com/wetjeanspodcastThanks for supporting us. Summer merchandise is on the way!!!!! FOLLOW US:ANDY:twitter: @champagneanyoneinsta: @andychampsROB:twitter: @robbywgucciinsta: @robbywgucci WJtwitter: @wetjanspodinsta: @wetjeanspodcastExtra Show Per Week (https://www.patreon.com/wetjeanspodcast)

Noelle Randall Podcast
How To Find Motivated Sellers On Zillow

Noelle Randall Podcast

Play Episode Listen Later May 17, 2022 10:33


With the power of the Internet and technology, it's nearly impossible not to find any source of income. In this Podcast, it's finding motivated sellers to catapult your real estate game. Are you ready to succeed in your real estate business? Let's get right into it!Get your free training here:http://www.NoellesFreeTraining.comGet a copy of my book for FREE:https://www.noellesfreebook.com/WEBSITE:http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show

Real Estate Marketing Dude
Stop Chasing Leads, Start Creating Content with Sarah Noel Block

Real Estate Marketing Dude

Play Episode Listen Later May 14, 2022 31:31


What we're gonna be chatting about on today's episode, is what is content. Unfortunately, if you're not creating content, you're not going to have a business in the future. In my opinion, there is no more important marketing mechanism, activity or anything, than to create content. Because if you're trying to message anyone without creating content, all you're really doing is selling your shit and you're landing on deaf ears. Content Creation is how you remain relevant amongst your audience, your databases, and how you keep the conversation going. Our guest today happens to be from Chicago, but certainly not all good content marketers come from Chicago ;). Her name is Mrs. Sarah Noel Block, and she has a company called Tiny Marketing. What she does is she focuses on content creation within the real estate space. Three Things You'll Learn in This EpisodeHow to stop getting your clients stolenCreating content even with a small teamDefine what content itResourcesLearn more about Sarah Noel BlockReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you track new business, you constantly don't have to chase it. Hi, I'm Mike Cuevas to real estate marketing. And this podcast is all about building a strong personal brand people have come to know, like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get started.What's up ladies and gentlemen, welcome another episode of the real estate marketing dude, podcast, where we're talking about today is something near and dear to my heart. Basically, the whole reason why I started to create this show about six weeks ago, and I'll lay the context over what we're going to be covering are six weeks ago, I mean, six fucking years ago, not six weeks, six years ago. But I'm going to lay the coverage about when I actually came up with the name real estate marketing dude, I was actually at a conference for Copyblogger in Denver and Copyblogger. Back in the day is Brian Clark's company, you probably know who he is. Brian Clark is Copyblogger used to be the number one blogging content marketing company, I think in the world, he's from training, they're at the forefront number. And at that conference, I was sitting at this conference, and it was at that conference that I saw, I forget who was speaking on stage, but I'm like, You know what, I'm going to call my company. And I'm going to call my podcast, real estate marketing dude, because I was sold on content marketing, but I wasn't sold on what my brand or identity was, until I came back from that conference. So folks, what we're gonna be chatting about on today's episode, is what is content. And unfortunately, if you're not creating content, you're not going to have a business in the future. In my opinion, there is no more important marketing mechanism, activity or anything, then to create content. Because if you're trying to message anyone without creating content, all you're really doing is selling your shit. And you're landing on deaf ears. Content Creation is how you remain relevant amongst your audience, your databases, and how you keep the conversation going. Because when you disappear, you become a closet agent. And that's when they start cheating on you with guys like me and everybody else. And that's what is going to happen. The eye buyers today are are aiming for your clients. Big tech is aiming for your clients, and everyone is aiming for your clients except you. If you're not creating content, you're gonna lose touch, not stay in touch with them. And this is going to be a very good episode. So we're gonna go ahead and introduce our guest today. She happens to be from Chicago, but certainly not all good content marketers come from Chicago, if you don't know. But her name is Mrs. Sarah Noel block, and she has a company called tidy marketing. And what she does is she focuses on content creation within the real estate space. So Sarah, go ahead and say hello, tell us a little bit about yourself. And let's get into this.Yeah, so I started working with real estate companies about 10 years ago to create their content. And I haven't looked back basically, I reached out to landlord ology, the because I was a real estate investor. And I said, Hey, do you guys need content? They did. So they hired me in it spun from there. I was working full time in marketing. And I built my business on the side as I was, as I was doing content for real estate service and SaaS companies. And now here I am two years later. Do you want to do it full time?And you're mainly creating content for the real estate industry? Those that correct? Yes. Okay. So we're going to start this off really easy, guys, we're gonna first define what content is. If you guys ever listened to the show for a while, you guys, if you don't know what the hell we do, yet, we create video content for you. So that everybody knows who the hell you are in your local community. But video content is just one form of content. There's a lot of content to create. Everything you do is content. Like everything you do even when you go on showings, that's content. So once you to find in your terms, what the hell's content for the real estate people?Yes, for the real estate people, it is how you educate and build trust with your audience. Man, I would say I think it's like 70% of the sales process is done before they ever reach out to somebody in sales. And all of that is done through content marketing, because you're teaching them how to solve their problem. And you're building trust by showing them you know how to solve that problem. It pretty much feeds all of your marketing.Can you go back and spend some time on this? 70 to 80% of people have already decided whether they're going to buy your shit, is that what you're saying?I am saying they have at least decided between you and one other company on if they're going to buy your shit. And then they'll reach out to you and that'll be the deciding factor on who they go with.So when a consumer is out there, just sort of I don't know just play in the real estate agents, agencies and say I'm going back into Chicago. I never sold real estate Chicago so I don't know any real estate agents in Chicago. And I'm thinking about moving back home to go closer to my parents. Let them watch the grandkids grow up. And I've sort of went on YouTube, I saw some one guy might like a little bit, I see another agent, I might like a little bit. What would I do next? As a consumer? Typically, they check out their websites and make a check out their YouTube channel, like what am I going to do?Oh, you're gonna do a deep dive, you're gonna go to Google. And you're going to start researching that person. See what social media they're on? Are they active on it? See what what's going on on their website? Are they regularly updating it? Do they have new houses listed on there? What do they tell me about their process for buying and selling? And that's, that's where it's gonna go next. Just like everybody else in the world. They're gonna go to Google and see what you have.Right, folks? Did you guys, let's get out of real estate for a second? I don't know. What's your favorite thing to do, Sarah? Like, what's your favorite thing to buy?Oh, my favorite thing to buy? Yeah,to buy or do and spend money on?Yeah, probably. Buy hiking,hiking before you go on. Alright, so let's just say that you came out to Southern California, you're going out the San Diego area. And there's a lot of really good hiking around here. What would you do first? Well, Iwas actually there last summer. And I hiked up the federal volcano that you have over there.I haven't been there yet. But I know you're talking about I even know the name of it. But I know you're talking abouthiking boots, I would make sure that I have the right hiking boots.And did you research it a little bit? And did you course,you know, I'm on Google trying to figure out like, when what are the best hiking boots for mountain climbing because I'm in the flatlands of Chicago? Oh, I know hiking is normally through a forest. So I need to know what the right hiking boots.You know, we call you guys out here now or they call us back home? They call it they call you guys Flatlanders Oh, thegiant mountainFlatlanders? No, she's, she's exactly right, you guys, like think about it, you're gonna be making one of the largest financial investments if you're buying and if you're selling, you're unloading one of your largest financial investments, you're not going to do that with John Doe, the stranger that you just met. At some, like randomly walking down the street, you're gonna do it someone you know, like and trust. But most importantly, I would say trust. What, walk me through, I'm sure you've done all kinds of research here. Do you have like a pattern that you've actually noticed or research of what consumers do specifically, when they're thinking about hiring a buyer's agent or a listing agent?Yeah, they start, they start by looking at, like, the questions to the problems that they're having. Like, let's say they've worked with a realtor before. And they were actually I had a customer interview for one of my clients just this morning. So I'm gonna use their example. They were working with a realtor. And they were super aggressive towards their, towards the buyers lender, like mean to them. And this person was see seed on those emails and saw how it was and just didn't like it didn't like the vibe. So then he started doing some research for outside realtors. And the first thing he did was, you know, Google realtors in the area and what he wanted, what he did was he looked at their videos to see what kind of vibe they had. And you start to feel like you know, someone when you watched enough of their videos, yes, you get a feel for their personality. And that's, that's why he did and ended up a good experience, obviously, otherwise, I wouldn't have interviewed him for this particular thing.Well, that's what most people you sort of hit on the head, like folks are not hiring you because you have a license in your pocket that allows you to legally collect money on a house you sold. They're hiring you because they feel comfortable, or they personally like you, like birds of a feather flock together. Guys, and people end up working with people that are really just like them, or somehow they relate to them. Because those are the people who remain on top of mine, aren't they?Yeah, and really, you just you want to spend time with people you like. So you're not going to hire somebody that you really just don't have a good vibe with.If you're sitting on the treadmill or you're sitting on the peloton, right now, think about the last 10 clients that you've literally helped buy or sell real estate. And then I want you to look and realize that why you've become friends with all of them isn't because that's a coincidence. It's because we all tracked like people People are always like, why am I drink a beer with my client again? That's because that's what I attracted right? Why am I like partying with this guy? Like I just sold this guy millionaire house why are we like a club right now? Well, that because that's who you attract guys. What what is let's go through some other forms of content. We know video guys, we don't need to harp on video even though if you want to we will. I want this to be about you. Not me. But what other typesof content written right now? Um because they're all looking like my clients are all looking to get found in Google faster. So we're doing a lot of either the show notes to go along with the videos or full blogs and community pages, so that they can get found for those problems that they're trying to solve. So, using the example from this customer interview I had this morning, he found her initially because he wanted an expert in his location. He, he was a real estate investor, and he had never actually lived in this house that he wanted to sell. So he's looking for an expert in Sacramento. And that's how we ended up finding her is because she did a lot of blogs on Sacramento area and the community. So he was able to find her because of that SEO juice.It was a long tailed. And can you explain what longtail means?Yeah, long tailed means like it. You're not looking at Sacramento realtors, that's a short tailed keyword. longtail would be like a longer question like realtors that are experts in x x neighborhood in Sacramento. And then your content will show up because you're creating a community page for that particular neighborhood. For example,when I was practicing in Chicago still and you guys could look at the website if you like it's it's botched now because I took down all my it's all messed up. But I still have content on there. It's called Chicago real estate dude. My number one performing piece that attracted a lot of clients was I'll give you I got ton of stories. One was Chicago closing costs, I ranked number one, I actually had the snippet back in the day. So I actually ranked where I got the snippet in Chicago closing costs, Buyer Closing costs, and Chicago seller closing costs. were my top three pieces of performing content. I had my blog up to 10,000 Organic hits a month, guys, 10,000. It's insane. I even ranked against realtor.com and homes.com and Zillow on neighborhood tours, terms like Buck town homes for sale and stuff like that. But it was because of how much content we were creating. And I knew how to SEO, the back end of them. But the thing that most people fail by is they think that if you're gonna go out and create a piece of content, like a blog, they're like, I want to get 100,000 hits. Sorry about that, is it?No and vote one, it's not going to happen overnight. And no, it's not about that. It's about getting the right heads. So yeah, people obsess over traffic. And the traffic count doesn't matter if the wrong people are going to your website, what you want is the right traffic going to your website and the right people finding you. And part of that is creating content that might be let's call it controversial, not really controversial, but shows your voice and who you really are shows your personality. Because you want as we were talking about before attracting the right people attracting people you would be friends with, you also want to repel the wrong people. So by showing your personality in that content, you're already like pushing off the people that you wouldn't really vibe with anyway.Yep, I do it every day on the show. Like people like you swear too much. Great. We're probably not gonna. Honestly, we're probably not gonna hang out anyway. So let's talk about a controversial topic. So we're doing a scripting class. If you guys were members and clients of ours, you guys would be on this class on Wednesday. But what it's going to be on there's relative content that's performing well on YouTube. And what she meant by controversial this is controversial. Is the San Diego real estate market headed for a crash? That's going to be the topic of conversation, because that's what's performing well on YouTube. Now real estate agents are gonna be like, Oh, my God, that's, you're gonna say the markets going for a crash? It's always supposed to go up. I thought. No, guys, you want controversial stuff? Because that's what people get pay attention to.Yeah. Clickable people are like, Well, is it click?Yep. 100%. What other types of written content and blogs do you see? neighborhood? You mentioned? A couple of neighborhood pages?Yeah. Yeah. And it depends on what type of buyer you're trying to attract. So if you're, I mean, I think in any industry, if you niche down, you're better off and you're, it's easier to attract people. So let's say your bread and butter is real estate investors, you'd want to write content all around real estate investing, and maybe how to automate being a landlord how to find properties. When you are a long distance landlord, items like that. Basically, you want to create, like a content cluster, where you have a specific content piece that's really long like a guide, and then a lot of little branches that come out from it that are subtopics from within there. And by connecting all of those, that's how you rank higher in Google.So internal internally linking and all that.Yeah, connecting the dots. their internal linking helps with SEO. And it also helps your customers that are on your website find the content that they need.And why do you think more people don't? I know from the blogging, but why do you have more people that do it sounds easy.Because it's not, it takes a lot of time. It's, it's time consuming. And at least my clients, they all have small teams, they either have a fractional team, where they have like a team of freelancers that will work with them, or they have one like one internal person that helps with their marketing, or it's just them. Yeah. And that's really hard. When you're creating content, it's time consuming, it takes about eight hours to create a blog post, that's going to rank and that's, that's where people struggle. But if you create systems to be able to consistently create your content, it becomes a lot easier. And it's kind of like a snowball effect, because you can play off of the other pieces.So it's something that you do over time. And I think a lot of people just are instant gratification salespeople where they need to see something work right now. But they won't put the time into it's how much videos you guys. Like I tell people all the time video, always pencils, it always works. It always has an insane ROI. But just sometimes it might take six months for you to build that brand, especially if you're a newer agent. Or it might take one month, you just don't know. But it always works. As long as you do it and you stay consistent with it.Consistency is key it when I was building my business, the first thing I thought is I need to build my personal brand beyond my corporate life. So I mean, it only took six months to create enough of a following that I had a full roster of clients. And it was just a combination of showing up regularly on social media with video and with written content and then PR being able to connect with like podcasts like this. There's a dog in my yard right now just walking by my window. That's not my dog.Make sure make sure it's not a coyote firstconfuse his Dog Mattis. Where was I? Oh, Pr Pr partnerships like being on podcast guest blogging and in publications that your audience is reading and answering questions on Haro help a report a Reporter Out. Those were the first things that I did when I was trying to build my brand. And then from there, I created like episodic content, where just kind of roles like a podcast, a live stream show. It's the easiest way to show up consistently because you have that routine down.Yep. Well, most times, like I don't know what I was listening to this weekend, but I think it was a church to be honest with you. She said 21 wants to do something for 21 days, it becomes a habit. I've heard. Like I just literally had that happen in church, my son Okay, here. Yeah,yeah. Okay. So that's why I'm muting myself.So like 21 days you do something and becomes a habit. And I think what a lot of people don't realize or see, even today is that a lot of people don't realize that. This isn't hard. It's just new for most people. And where a lot of agents traditionally, would spend that one to three hours or four hours a month, prospecting or doing something to generate business. They just don't look at their business today, the same way or content creation around the same day content creation, you guys is modern day prospecting. It just doesn't come with immediate gratification.No, it doesn't. It doesn't. But like, okay, let's say you set up a system where you're like, Okay, I commit to creating one, one video a month. And you start from there, repurpose that, start editing it down into micro videos, see if you can use it on social media, repurposing it on there, take that audio, make it a podcast, you could hire a freelance writer and have them write a blog post based off of the highlights of that video. You can really Snowball from just one piece of core content.Let's go into multi purposing. Tell me how you typically do it. What do you how do you multipurpose content and walk us through that a little bit more?Yeah, I'm a huge fan of doing that. So I have a live stream show every two weeks. And my process for that is I take that live stream. And I'll break it down. So it becomes a series. I'll interview an expert. And we have three learning objectives in that conversation during the interview. I'll break it down so then it's a three part series. So then I'm already creating this episodic content which is pretty bingeable Because If you're like, Okay, well what happens next click Next. And then from that series, I'll take that and convert the audio file from there into a podcast. So those are three extra podcast episodes. And then I'll take those learning objectives that I had in the initial interview. And I'll break that down into a longer form guide that's written. And then do the content cluster thing that I was talking about where we take the little sections of each of those guides and create a, a blog post from it. And then obviously, you have your social media from all of those pieces, that's like 12 pieces already, and an email for each of those pieces. So if you already like 20x Step,there you go, well done. I think I see a lot of agents or even mortgage people that when they create a piece of content, they'll just sort of let it die in the newsfeed. They don't multipurpose it at all. And I'm like, What the hell is the point of that? Like, well, you don't you know, you could recycle. And here's the thing to like, love some people that don't have. Here's another good tip, guys, there's like, let's just say you're doing a video. And the videos you created six months ago, I could promise you that nobody has ever remembered about them. You can just repurpose them and just repost them they're gonna think it's brand new. Sure, brand new video, people overthink this stuff so much. It's about being present. Yes, it is. It'sabout showing up in the feeds. And no, people are not going to remember social media has like a 24 hour lifecycle, so repost use, I, what I like to do is the first time I post something, I post it live and natively, and then I'll put it into my social media automation and just recycle it from there.Yep, I agree. What do you I mean, if you were to pick different types of content for people in the real estate industry, what would you rank them? In? If they're like what type to create? Podcasts I get a lot of people say podcasts, podcasts or video or blogs or just sharing cool shit stories reels, tick tock, which is what do you see?That is a good question. Um, do I have to pick like one that the top there's a couple, I would, I would say, showing that you can solve their problem is the most important thing. And they're going to find you probably you'll, you'll hit the most pieces of the no luck. Try the know, like trust factor with video first. So I would start there. Because they get to know who you are, and they get to learn something from you. And then I would go with written next because you'll get more SEO juice from it, you do get a decent amount from from video as long as you're doing like some good Show Notes Pages, some in depth descriptions on YouTube. But blogs are a good way to really get that impact from from those longtail SEO. So I'm gonna go with that next.And then for longtail you like like the areas are like neighborhoods, areas, places community. What other types of long form content are you seeing? Yeah,that does really well. And around your buyers specific issues. So I do a lot around landlords and acquiring new properties and processes for managing multiple properties when you're a real estate investor. So it depends who your target audiences. But if you're like direct to consumer, typical homebuyer, yeah, those community guides do really well. And any content that helps people understand the process of buying and selling a little bit better. Because that might be brand new, or they might not have sold a house and bought a new one in 20 years. And they need to relearn that process.What about listings? Everyone's always like, what do I do for listings? What do I do for listings? I tell them, sir, hang around people who own houses. But what do I do? What kind of content am I going to pick up for listings?Yeah, I always had a good luck with telling the stories with it that connect people. So so many times you'll read these listings, and it's just like four bedrooms, two baths, blah, blah, blah. But I would bring in stories like the basement used to be a speakeasy or some some interesting fact about the house or the neighborhood that draws people in. Like my house. Like 10 years ago, the basement was an ice cream shop in the 1950s. So when I was at Um, when I was renting it out, that was when like, I had a story about that. And there,that's cool. So oh, well, a lot of times agents was like just listed just sold. I said this on the show recently, there's a meme going around, of how real estate agents market their business. And it's like if a if a doctor was a real estate agent, and it shows a doctor saying, holy and all these, like $100 bills, but I just perform heart surgery. And it's like, folks, people, like, you gotta have to HGTV your sales process, you don't need to like, tell me about how much money you made today. And said, Tell me about the story of the person you help. Like, it's so easy. It's right in front of us. Yes. But yet people like go the opposite way with it. I'm like, What are you guys doing?Yes, that's another thing that I meant to bring up is you can build trust by bringing in your customer stories into into the conversation. Like one of my clients, I wrote a story about how the customer had, he was a first time home buyer and a veteran. So like the story that went along with that, because it was it complicated the process. And it was really interesting, we got a lot of engagement on that. But bringing in stories and customer perspectives, testimonials are always great.Another one you guys can try is like say what the market conditions the way they are. Tell the success story of the sale. So be like this seller, this house, like we had a house in our neighborhood sold a million dollars over list price, like what the fuck who does that million dollars, over a million over list last. And like that I would I would have wrote, I would have wrote a story of something along the lines like this property literally sold. And that's not every day that a property sells a million dollars over list price, but this one did. And if you guys circulate the people who are going to be reading that are potential people who might be selling, they're excited to learn that their house is worth more than what it really is today. So showing case studies of properties have sold, I also seen the flip side work well of I need a buyer but tell you the story of the buyer who's searching for a house in the area, that there's just nothing available for but both of them have a story in common guys, is what I'm getting at story content.Yeah, if you think about it, like as a story, the customer, they always think of themselves as the hero of the story. So you need to make sure that they are front and center in that content and can picture themselves in that place. Like, oh, shit, that was that was me. I had, like, I'll talk about an example one of my clients had from a couple years ago, when real estate was a little bit harder. It was it was less about like you couldn't sell a house. And he had an offer and and it flopped just didn't go through at the end. And how the real estate agent had backup offers ready because she knew that it was likely going to happen. And she got them to match the original offer stories like that, because you're like, I was there if that happened to me. And that sucked. And but she was able to solve it and get the same amount of money. Yep. Yep.I mean, that's what it's all about you guys at the end of the day is demonstrating your involvement in the transaction through the form of story. More people will follow it. But demonstration of what you do not a brag reel of what you do, there's nothing more bigger return off than somebody being like I've made a bunch of money today, at least in today's world, people don't like that anymore. That's just the way it is guys. Any other closing thoughts here that you want to mention anything with content, that closing words of advice for some of these people? Yeah.If you just start with one thing that you're willing to commit to, on a regular basis, it will work out if you just set that routine, even if it's a small routine. And just like my business, a tiny, tiny little habit that you have in creating content, it will add up over time and it will be helpful even if you feel like it's not moving the needle now it willI agree. Why don't you tell them where they can find you website in case you guys need help with your content creation services? I'm sure you can help understand what you do.Yes, so I work with real estate service and Sass companies in creating their content marketing. And you can find me at Sarah Noel block.com and anywhere on social Sarah Noel block.Appreciate it, Sarah. Excellent show. And thank you guys for listening to this episode of the real estate marketing podcast what you guys have to realize if you get anything out of this show today, just realize everything you're doing this content. At the very bare minimum you should be taking pictures of cool kitchens, views, baths, bedrooms, kitchens, the bare minimum because every time you do you're reminding everyone what you do for a living, so don't overthink this thing, but if you want to step it up, once you start doing things on video, what happens is you get more eyeballs and with more eyeballs because more conversations with more conversations comes more clients and business down the road. So it doesn't happen overnight. But it does happen and it does happen every time unless people don't like you. Sara, would you agree that's the only time this thing doesn't work.That's true, people might not like you. And there's nothing that either Ross can help you with that folks,you might be in the wrong damn business. But as long as you're still listening to show chances are that's very seldom. So what I want you to do next is go to real estate marketing do.com and schedule a demo with me if you do want to talk about getting this content on video, we script we edit, we distribute and we put you on the map in your area. We do everything all I need from you is two to four hours a month, and the rest will be done for you. That's www dot real estate marketing.com Thanks for listening other episode and make sure you subscribe to our show channel, Facebook, Instagram and YouTube and we appreciate you guys listening. See you guys next week. Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing dude.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with a dude and get you rollin in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.

Mason & Ireland
05-13 HR 2: ACT II

Mason & Ireland

Play Episode Listen Later May 13, 2022 52:33


Jorge's Acting Class: ACT II. The guys hand him a scene from a movie and he reads it COLD! Also, What do you think about BREAKING NEWS? Do you still believe the ANCHORS that deliver the news or has the game changed? Plus, Someone has taken a shot at Iggy Azalea as she is addicted to Zillow as she says that she is always selling her houses. Find out who? and Producer Greg has his topics ready for JUMPBALL! Learn more about your ad choices. Visit megaphone.fm/adchoices

Duel Agency
Zillow flips the script…Again!

Duel Agency

Play Episode Listen Later May 13, 2022 13:03


Zillow changed the way consumers view, purchase and access real estate. They have once again changed the way real estate agents enter act with the market. Listen to hear Randy and Harrison's thoughts on the changes. Like what you hear? Comment below⬇️!Got a question you want the guys to answer? We have a viewers questions segment coming up so hit us with your questions too! duelagencypodcast@gmail.com.  Want to be a guest? We would love to have you! Go to https://docs.google.com/forms/u/3/d/19p7sC46YMltRnGyj_Zbo4har6ZQK4QHBdRlBSZOV9-Y/edit You can also catch us on youtube!THANKS FOR Listening!

Leadership Conversations
Leadership Conversation - Episode 167 with Spencer Rascoff

Leadership Conversations

Play Episode Listen Later May 13, 2022 56:50


Name: Spencer RascoffCurrent title : Board MemberCurrent organisation: Varo BankSpencer Rascoff is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso, Recon Food, Queue, Path, Supernova's family of SPACs, and 75 & Sunny. Spencer served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of “best places to work” awards as it grew to over 4,500 employees, $3 billion in revenue, and $15 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003.Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in more than 100 companies and is incubating several more. He serves as executive chair of dot.LA, a news site covering the Los Angeles tech scene. He is also co-founder and board chair of Pacaso, the company pioneering a new way to own a second home. He is co-chair of Supernova, a family of Special Purpose Acquisition Companies, which take public great private companies. Supernova I merged with Offerpad, a leading real estate company, in Fall 2021, and Supernova II merged with quantum computing company Rigetti Computing in March 2022. Spencer is on the Board of Directors of Palantir, and is a former Board member of Zillow Group (Nasdaq: ZG), TripAdvisor (Nasdaq: TRIP), Zulily (Nasdaq: ZU), Julep, and several other tech companies. He is on the Board of Advisors for PledgeLA, a coalition working to increase diversity, equity and community engagement in LA's tech community.Spencer is a Visiting Professor at Harvard University where he teaches the StudioLab on Creativity and Entrepreneurship -- Startups from Ideation to Exit through the Lemann Program on Creativity and Entrepreneurship (LPCE). In Fall 2019, Spencer was also a Visiting Professor at Harvard Business School where he co-created and co-taught the “Managing Tech Ventures” course. In 2015, Spencer co-wrote and published the New York Times' Best Seller “Zillow Talk: Rewriting the Rules of Real Estate.” Spencer is the host of "Office Hours,” a podcast featuring candid conversations between prominent executives on leadership, diversity and inclusion, and startups. Before his consumer web career, Spencer worked in investment banking at Goldman Sachs and in private equity at TPG Capital. He is also a member of the Young Presidents' Organization. Spencer graduated cum laude from Harvard University.Resources mentioned in this episode:Free Download of The Leadership Survival Guide (10 World-Class Leaders Reveal Their Secrets)https://store.consultclarity.org/leadership-survival-guide-10-world-class-leaders-reveal-their-secrets1625572748028The Leadership Conversations Podcasthttps://open.spotify.com/show/4IB6V41kr4GVJ98XLHMPeCThe Jonno White Leadership Podcasthttps://open.spotify.com/show/2p8rvWrYW2XNLl9Z8m3pTsThe Leadership Question of the Day Podcasthttps://open.spotify.com/show/6eZ4lZ2bgA8aczPKY4Oqw6Clarity Websitehttps://www.consultclarity.org/7 Questions on Leadership Serieshttps://www.consultclarity.org/large-enterprises-leadershipWe'd Love To Interview YOU In Our 7 Questions On Leadership Series!https://www.consultclarity.org/7-questions-interestSubscribe To Clarity's Mailing Listhttps://www.consultclarity.org/subscribeJonno White's eBook Step Up or Step Outhttps://store.consultclarity.org/step-up-or-step-out-sales-page1640131063671Jonno White's Book Step Up or Step Out (Amazon)https://www.amazon.com/Step-Up-Out-Difficult-Conflict-ebook/dp/B0925MB4SR

How to Scale Commercial Real Estate
Mobile Home Parks: The Leader Affordable Housing

How to Scale Commercial Real Estate

Play Episode Listen Later May 13, 2022 22:08


There's big money on mobile home parks, and our guest today definitely made millions in the space.   Frank Rolfe is an investor in mobile home parks for almost 30 years. Along with his business partner, they are the fifth-largest mobile home park owners in the United States. In this episode, Frank examines the changes in the mobile home park industry over the last three decades, including the increasing demand for affordable housing. He also tackles the differences between the mobile home and RV industry, and the current opportunities and challenges in the market.     [00:01 - 08:24] Mobile Home Parks Then and Now Frank discusses his background and how he was at the right place at the right time The changes in the industry over time Financing is easier and interest rates are historically low Demand for affordable housing is higher Lower production of mobile homes   [08:25 - 13:46] Why Don't We See More Mobile Home Parks? It's harder to buy mobile homes vs stick build The stigma surrounding mobile home parks Challenges with zoning and legislation Frank on what killed mobile home parks in the 50s and 60s   [13:47 - 21:12] Comparing the Mobile Home Park and RV Park Industries How PR and marketing made the RV business more successful Cities are more amenable to RV park developments The appeal of RV parks to boomers and millennials The impact of COVID   [21:13 - 22:07] Closing Segment Reach out to Frank!  Links Below Final Words Tweetable Quotes   “It's a basic fact of life. The average American has a horrible stigma against mobile home parks around the residence. And nobody wants a park to go up near where they live, or even a business they own.” - Frank Rolfe   “If you wanted to build one today, what you would have to do is you'd have to go way out in the countryside where there are no people to complain, where there are no zoning laws, and then you have no municipal water, no municipal, sewer, and no customers. So what's the purpose of building that?” - Frank Rolfe   “If you wanted to destroy all mobile home parks, it's simple. Just bring back mass prosperity. And then no one needs mobile, home parks, they just all go buy custom homes wherever they can… But I don't see that happening.” - Frank Rolfe   -----------------------------------------------------------------------------   Connect with Frank! Head over to mhu.com for more mobile home info now!   Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below:   Frank Rolfe  00:00 I fully understand why as a homeowner, you know, it's a basic fact of life. The average American has a horrible stigma against mobile home parks around the residence. And nobody wants a park to go up near where they live, or even a business they are. If you simply go to Zillow and look at the single-family home price next to a park, it's about half of what it is a block away. Same home, right?   Intro  00:21 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.     Sam Wilson  00:33 Frank Rolfe has been an investor in mobile home parks for almost 30 years and has owned and operated hundreds of mobile home parks during that time. He is currently ranked with his partner Dave Reynolds as the fifth largest mobile home park owner in the United States. Frank, welcome to the show.   Frank Rolfe  00:48 Hey, thanks for having me.   Sam Wilson  00:49 Pleasure is mine. Three questions I ask every guest who comes on the show: in 90 seconds or less, where did you start? Where are you now? How did you get there?   Frank Rolfe  00:55 Where did I start? I started off straight out of Stanford trying to do a business school application and back then you would start a business to have a good application. That's how I started my billboard company. So that was my early origins of being an entrepreneur. Where am I now? Well, I'm now I'm fifth-largest owner, with my partner, Dave Reynolds of mobile home parks in the United States. So you know, we've done a lot of scaling over the last 40 years of being in business for myself.   Sam Wilson  01:24 Yeah, that's absolutely fantastic. And the last question is, maybe we'll spend the rest of this episode talking about it. How did you get there?   Frank Rolfe  01:31 Basically, how I got there was working like an absolute maniac for most of the time. Obviously, having a good strategy, some businesses, you can expand and others you cannot. And then finally, just being outright lucky, because there's plenty of guys with more ability than I've got, who just were not in the right place at the right time.   Sam Wilson  01:50 Yeah, it's funny, I was talking, I was having dinner with some guys the other day, big finance guys. And somebody brought up that idea that some of it's just luck. It's just you beat in the right place at the right time. They're like, man, there's more truth to that than you realize that it's just you're desperate the right place the right time, and it worked out. So that's really interesting. The mobile home park and the RV park space has really changed here, I'd say in the last 10 to 15 years, it's gained a lot of attraction, a lot of attention from not just individual investors, but also, as you will know, from institutional investors, what have been the changes most dramatic and noticeable to you, and how has it impacted your business?   Frank Rolfe  02:31 Well, the biggest change, of course, has been financing, because when I got in at 25 years ago, in the mid-90s, you could not get back that. So every deal you tried to do the number one hurdle you had was getting financing. Banks hated that. Nobody liked it. And when normally you would end up with seller finance, you try to cobble together something with seller financing. And the sellers were amenable because they knew there was no bank debt. That's the one big shift today deals rarely go on bankable right back in the 90s. Everything was on bankable. So that's when Biggie the other one has been just the appetite for affordable housing. You know, we've said over the last nine quarters, each quarter, we broke the record of the prior quarter as far as sales. And what's going on is just the nation's housing industry has actually gotten nuts on pricing. And so we're producing houses at a price range of you know, in the 300,000s. And so there's so many people who cannot get into the housing market. It's insane. And while with our industry, you don't own both home and land, you do at least own home, and you have some land, unlike apartments. So we're kind of this crossover product between apartments, which don't give you that single-family home lifestyle at all. We're kind of like a step between that and actual normal, single-family.   Sam Wilson  03:44 What, so yeah, the bankability of things has changed. You know, the interest in the space too. I mean, cap rates in mobile home park, as far as I understand, I don't own any mobile home parks. From an outsider's view. It just looks like they just keep compressing. How are people finding value right now?   Frank Rolfe  04:00 Well, they're not really compressing, what they're doing is they're going down, but people are still having to buy a spread between the interest rate and the cap rate. Thanks for not nuts in our industry and office buildings, retail centers back in the day. People were doing crazy financing, right? Just 110%, LTV 1% interest. People have never on the lending side been that nutty. So you know, we have to get loans and to have loans, we have to have a 1.2x coverage ratio to the mortgage, a lot of bank stress test our mortgages, they'll say what happens if you lost 10% of your revenue? So what you're saying is interest rates are historically very low. Even today. They're at roughly 4% t many mobile home park deals. When I got into business they were at seven right so you know, it's not like in our industry that the cap rates are unsustainably whacked out, but the big difference has been that interest rates are low. Another factor is you know, in our industry, the big narrative is that our lot rents are crazy, stupid low. which when you even say that I get nothing but hate mail, but it's just a fact. And you know, our national mobile home park lot rent is 280 a month average apartments, I think it's 1600 a month, right? So our pricing is stupid. And institutional buyers are buying the stuff up, they're raising the rents up significantly because they're stupid. And because the rates cannot remain, I mean, most of these parks today at the current rates, you're better off just bulldozing them, there's a million uses for the land better than a mobile home park. So as institutional guys go in and drive the rents up, the banks and the appraisers have taken note how easy it would appear to be 100% occupied at 280 rent and still be 100% occupied at a 580 rent. So they're starting to factor in perhaps the first or second read increase into their appraised value. So that's the other phenomenon you're seeing. Because last time, when we buy a park, we're not even looking at mom and pops cap rate, because mom and pop is running that business so poorly. It's a joke, what the banks and the appraisers and sophisticated buyers are doing is looking at the raw material and what they can make out of it.   Sam Wilson  05:59 That's a really clear explanation. I think that makes a lot of sense, you know, that I hadn't really considered as How are you guys are seeing it through the bank, through the appraisers' eyes, versus, you know, maybe what mom and pop are putting together on it. Are you guys buying actively right now?   Frank Rolfe  06:14 Yes. We're always buying. We have periods in which we buy more than others. But we've never had a period in which we were not buying.   Sam Wilson  06:21 What does opportunity look like for you right now?   Frank Rolfe  06:24 Well, our tastes have changed significantly over the years, right? Both Dave and I, when we started out, we didn't start out together. We were actually competitors. In the old days, our deals were very, very rough and tumble what we'd call heavy-lift turnarounds. So I was buying parks that were often half-empty, totally screwed up, water leaks running down the streets, stuff like that. So as Dave. Today, because of our size, we're trying to do add on to our portfolio, what we call portfolio builders, which are nicer properties that help the overall value. But at the same time, we still do heavy lift turnarounds. Now the one style we're not as in tune with today, as you were before, are ones in which you have to do massive lot filling by bringing in homes. And that's because home prices have gone up nearly doubled during COVID. So while it was fun to fill lots and 30,000 homes, not as much fun at 60,000 a home.   Sam Wilson  07:13 Well, not only that, but I've also heard that finding homes is difficult.   Frank Rolfe  07:17 It's very, very hard right now, I don't think you'll ever go back to the old ways, to be honest with you. What happened was that, you know, manufacturing, it was 400,000 units back in the late 90s. Today, it's been about 100,000 units for, I don't know, the last 15 years. Nobody wants to step out and increase production. They easily could because the plants are only running one shift, and they could run three. So they typically produce seven floors a day, the average plant could produce 21 floors a day. But no one wants to take the gamble. Because half of all the mobile homes sold roughly it's estimated are park owners who are buying the homes to bring into their own parks. Right? And then the question is, how much longer will that go on before people get full? It's not like eating out where you might you have to eat out, you know, you eat daily, so maybe you'll eat out, you know, in perpetually a certain number of times a week. In our industry, once you fill a lot. That's it, it's over. So people just don't want to stick their neck out.   Sam Wilson  08:11 No, and I completely get that. That's very interesting. You would think, though, that there's still some old supply going offline at some point. I mean, obviously, there's gonna be some demand. But you're saying that there's going to be kind of a point where they've hit the wall and they can no longer keep up with runnings, three shifts a day.   Frank Rolfe  08:25 Yeah, well, right. Here's the problem, see, that the average American cannot buy a mobile home. If he walks right now into a mobile home dealership, you will find you have to have better credit and had worse or terms to buy a mobile home than the stick-built. Because the government stands behind and promotes the stick build industry. So they allow people to do these very, very low downpayment, all these different programs for first-time buyers and veterans and all this stuff. None of that exists in our space. So in our industry, you're looking at a high-interest rate a much larger percent down than single-family. And so you can't do it. And the only reason that homes get bought today, half of all home production is because the park owners backstop those loans, right. So if I bring in, you know, a $50,000 home, I don't cosign the note, but I guarantee the lender, if the person is foreclosed on, I won't charge lot rent, and I will go ahead and rehab the home at my own cost, and I will sell it at my own cost. And that's the only reason they will do it. And until the government wants to stand behind the industry and support it, which they've elected never to do, that will never change. If the government wanted to do that, which they easily could then you could see greater sales.   Sam Wilson  09:35 Right, that opens another can of worms, you probably won't go down that road. I'm thinking more along the lines of building new parks. Why aren't we seeing, I mean, maybe we'll ask that question differently. What is the challenge, outside of maybe the political challenge of building new parks, why don't we see other new parks coming online?   Frank Rolfe  09:52 Well, you never will. Okay. I mean, I've been in the business 25 years and I don't think in any given year you've seen more than 10 new parks ever build and about 100 torn down. So we've been depleting continuously. Here's the problem, and you can't blame the cities for it. I fully understand why as a homeowner, you know, it's a basic fact of life, the average American has a horrible stigma against mobile home parks around the residence. And nobody wants a park to go up near where they live, or even a business they own. If you simply go to Zillow and look at the single-family home price next to a park, it's about half of what it is a block away, same home, right? So the citizens go in an uproar if you try and build a new mobile home park, and of course, all their elected representatives on the city council, they're not wanting to get all the citizens to vote them all out over some stupid mobile home park. So they just will not grant the zoning, they haven't granted zoning in the United States from mobile home park in any significant amount since 1970. So it's been half a century now. And it's never going to change because it's a basic fundamental truth that you'd have to change the entire attitude of Americans towards trailer parks before you could achieve that. And that is never going to happen. No one is ever going to spend $100 billion in public relations money to achieve that. And that's why you won't see it. But even then, if you wanted to build one today, what you would have to do is you'd have to go way out in the countryside where there are no people to complain, where there are no zoning laws, and then you have no municipal water, no municipal, sewer, and no customers. So what's the purpose of building that? So that's the problem.   Sam Wilson  11:25 Yeah, absolutely. Are there any other headwinds that come to mind? I mean, in its own right depleting supply is good for you, as a park owner, that the value of the park goes up. It's bad for the end-user in the sense that we are once again losing more affordable housing, and not replacing it or building new. So that's bad for the end-user. Other headwinds in the mobile home park space that you can think of?   Frank Rolfe  11:50 Well, you know, what killed the mobile home parks before back in their heyday, which was in the 50s and 60s. What killed it was mass prosperity when people off suddenly got rich, and they all moved out, right? So you had that period in America, which is hard to even remember back that far, but I was alive during that period. When America was doing really well. And every year, people were making more money. And as people became more affluent, they were buying homes and subdivisions. And everything was great. When you were born, if you were ever back in the 60s, the atmosphere in America was very, very much different. We were really rolling at that time. And so the question is to defeat affordable housing, if you wanted to destroy all mobile, home parks, it's simple. Just bring back mass prosperity. And then no one needs mobile, home parks, they just all go buy custom homes wherever they can, build, you know, half a million, million whatever on the golf course, you know. But I don't see that happening. That would be the single biggest event that would kill the industry off. The only other items you have circulating around in some of the blue states, you have rent control. People talk about it frequently. Remember that in the entire United States, only one state has statewide rent control, and that's Oregon. So you know, the credit score is 49 no one yes, you've got four or five other states that allow it on a city by city basis. But you know, it's not a red state phenomenon. But if you have a mobile home park in a blue state, they seem to threaten that every year. They never pass it because they have no desire to ever pass it. Because the folks that run the government are all being subsidized by a whole lot of folks who do a lot of real estate ownership and development. So they're not really going to say, hey, I'll give you my big political contribution, despite the fact you screwed me over with rent control. I don't see that really happening. So no, you know, I don't really see any big headwinds to the industry. But then again, you know, America is so screwed up at this point. Every day is a new headwind. So who knows? Who knows where we'll be by the end of the day.   Sam Wilson  13:44 Right. Well said, Tell me about the RV parks because you guys are also well-known RV park owners. I know you kind of lump the two together for our listeners, maybe can you tell us why you lump them together? And then is there a difference?   Frank Rolfe  13:59 Yeah, sure. Well, you have to lump them together, because remember that they were all the same family up through the 1960s. So it was all called the trailer industry. You had trailer park, and you had a travel trailer? Yeah. And it was all trailer right. And what happened was a trailer manufacturer called Selby had a customer who wanted an even fancier, more expensive travel trailer. And they called up the state of Ohio and they said, Is there any way I could build this guy, an even bigger travel trailer? And the state said, Yeah, you know what, we'll let you go up to additional feet and width, but he can't pull it with his car, they'll have to pull it with a commercial vehicle. And that was the start of the industry splitting. Because what happened was people who wanted to not move their travel trailer frequently but wanted to have something bigger that became the mobile home whereas the traditional RV, person came to travel with shelter. The biggest difference in the industry be honest with you is the amazing job the RV industry has done with public relations, contrasted to the terrible job of mobile home park the industry has. So the Go RVing campaign is considered one of the most successful marketing campaigns in American history. The average American scores RV is very, very high in status and in satisfaction. So it's such a night and day difference. It's like you have two brothers one goes off to win the Heisman Trophy, be elected president and the other brother ends up you know, dropping out of junior college and becomes a sanitary engineer, even though they were the same industry at one time. So when you deal with RV, it's a luxury product, it's more of a classy customer. And it is something that everyone loves, right? Just as everyone hates trailer park, mobile home parks, they love RV parks. So it's a different kind of business. Now, the main problem you have is that RV is in fact a business. Whereas mobile home parks is very, very static. People never move around, they sit there, an average tendency is 14 years. They pay rent, you fix it when the utility pipes break. But an RV is like going into a restaurant, right? It's much more active. So you have to have customer service. And if you don't, they'll just go down the street to somebody who does. So that's the key difference. There's a risk profile difference between the two. A lot of lenders do offset that. They'll set the cap rate two points higher on RV than mobile home park because they want that extra comfort. And if you're lousy operator, even though you screw up, you can still cover the mortgage. Whereas mobile home park, you know, our managers or their worst manager ever, we probably won't lose any customers will probably have property condition issues, maybe a couple of collections problems. But an RV park with a bad manager can just wipe your RV park out.   Sam Wilson  16:38 Right? Absolutely. We've seen some incredible tailwinds in the RV space here just with deliveries in 2020, 2021. And then, you know, 2022, projected deliveries are just through the roof. Where do you see, and I think there's a unique thing that I've seen in the RV park industry is that people or cities are amenable to RV park development. So where do you see that going? Does this just peter out when people get tired of the pandemic and finally try to put that behind us? Or do we actually had, does that have runway?   Frank Rolfe  17:08 Well, you know, for a long time people thought RVs were not going to be a long-term thing because the majority of RV owners were baby boomers, my generation. And what they thought was going to spur it on the greatness would be a burst as you have the, you know, there's 10,000 boomers retiring today. I mean, I'm 61. So next year would technically be my where I would retire if I was at a normal job.So but what came out of nowhere that they did not anticipate was the millennials. Millennials are now as bigger bigger buyer of RVs than the Boomers were right. And that was a, I think you have to tie that to the phenomenal success of the Go RVing campaign. They were doing like, you know, all those Monster Energy extreme events, they were marketing it those way back then they had real foresight, whoever was running that marketing, they knew what they were doing. They didn't just focus on boomers, they could have just only promoted programs that appeal to boomers, right, like the Golden Girls or you know, golf tournaments. But no, they went after deliberately went after millennials and all of their most edgy millennial stuff. And as a result, they score very highly with them. And they are now half or more of all RV sales, right? So you have all these young people with RVs now and so that's what's given the industry a whole new life, because I didn't see that one coming, nor did anyone that was gift from the Gods. And then of course, the other part was COVID. I mean, let's be honest, COVID is one of the best things that ever happened to the RV industry, right? What happened was people now want to be outdoors. Some people have never been outdoors before. They never, they want to go somewhere without a mask. People said, Oh, well, you can walk around without a mask. They're like, Oh, holy smokes, man. I've never been outdoors before, what the heck, I like that. And also people now just don't like being around other people's nastiness. They don't want to go to hotels and stuff because they don't know who slept in the bed or who coughed on the remote. And so when they are in an RV, they feel like they have that safety from germs and strangers and all that. So I don't really see that going away. You know, the one part of the industry that someone will have to come to a conclusion with at some point is that, you know, a lot of people prefer retiring and living in RVs over mobile homes because of that stigma issue, which you'll never solve. So and I myself know, I know a college professor who recently sold his house, like a half a million-dollar house, and bought an RV. Okay, it's a single guy. And he just decided to sell everything and retire and bank the whole thing and just live in his RV. He would have never lived in a mobile home in a million years. He could never, culturally stigma, survive that but he can. The problem is a lot of cities, the RVs are not allowed to remain more than a certain number of days. Right? So those people end up in this nomadic existence. So what you need is kind of a hybrid, you need an RV park that you can retire in and live permanently. And that's going to be the real challenge. When cities grant these RV permits. Traditionally, they won't allow anyone to be there more than a certain number of days. And they do that live really because they are afraid if they do you know, there's an underworld RV of these kinds of nomadic freaky people who grew up around the river and they don't want them, right? Well, you don't want the guy that was living under the bridge down by the river, right? That's not your goal. So that's the real missing piece right now. And then the same goes with tiny homes, right? tiny homes can't go on traditional mobile home blocks, they don't have the HUD seal. So what happens is, you know, you see them on TV, but there's nowhere to put them right. And again, so that's the missing piece. And so I think at some point in the movie, maybe in the next five years, 10 years, 20 years, people will figure all this out, and maybe cities will allow what would be more of an upscale retirement kind of community that allows for tiny homes and things do not have HUD seal and yet don't have to move frequently. I think that's the only missing piece the industry has.    Sam Wilson  20:51 Yeah, that's really interesting. I had not even considered that side of the equation before. But yeah, that is really interesting. I mean, a lot of what we're seeing in the RV park space is in the long term tenant, though, when you get outside of those city regulations, of course, I mean, you have people that park their RV and leave them there for 12 months and come in every other weekend, have a good time. Really, really intriguing. Frank, thank you for taking the time to come on today and talk about mobile home parks and RV parks, certainly a blast. I've enjoyed it, learned a ton about both sides of the business. If our listeners want to get in touch with you or learn more about you and what you guys are doing, what is the best way to do that?   Frank Rolfe  21:27 Well, the best way to find my writings and all by different things just go to mhu.com just the letters M-H-U.com. You'll find so much more you can handle.   Sam Wilson  21:39 Frank, thank you again. I do appreciate it.    Frank Rolfe  21:41 You bet. Thanks a lot.    Sam Wilson  21:42 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.  

Underground Queenz
Manifesting Your Dream Zillow Home feat Real Estate Agent Sherelle Robinson

Underground Queenz

Play Episode Listen Later May 12, 2022 84:38


Do you ever just stroll on Zillow and plan your life in your 3-bedroom bungalow? Us Too! In this episode, we MANIFEST our ideal home. Also, we are joined by Real Estate Agent, Sherelle Robinson. Manifesting Your Ideal HomeYay's and Nay's of HomesWe talk about local grants and programs.We talk First Home Building 101Investing for the 20s/30s-year-olds through Real EstateSherelle Contact Information:Instagram: @realestate.rellRATE THIS EPISODE! Tell us how you feel about this episode in the RATINGS. Shop the Merch: www.theundergroundqueenz.comInstagram: @theundergroundqueenzFacebook: Search "Underground Queenz"

Flipping Houses & Real Estate with The Flip Man
Why Not Just Wholesale Houses For Sale on Zillow

Flipping Houses & Real Estate with The Flip Man

Play Episode Listen Later May 12, 2022 50:43


Why Not Just Wholesale Houses For Sale on Zillow

ClimateTech with Kentaro
11. LandGate's Yoann Hispa

ClimateTech with Kentaro

Play Episode Listen Later May 12, 2022 27:39


This week, we are talking to Yoann Hispa, LandGate Co-Founder and CEO. LandGate is ​​a leading provider of information, data solutions, and an online marketplace for US commercial land resources: solar, wind, carbon, oil & gas, minerals, and water. It's kinda like the Zillow for land resources.   In this episode, Yoann takes us through the expansive solutions they've developed in a 4 trillion plus market, including how they help landowners, real estate agents, and investors alike to understand the energy and environmental value of land resources. He also shares with us his journey as an entrepreneur, including a recent milestone of closing their Series B round.    Learn more about LandGate.   ClimateTech with Kentaro is produced by our incredible team at Persefoni and Hueman Group Media.  Learn more about Persefoni and our climate management and accounting platform by subscribing to our weekly newsletter!

The First Time Home Buyer Podcast
For Sale By Owner Zillow FSBO How To Find A Sale By Owner Near Using Zillow

The First Time Home Buyer Podcast

Play Episode Listen Later May 11, 2022 9:15


For Sale By Owner Zillow (FSBO) - How To Find A For Sale By Owner Near Me Using Zillow Today I am going to share with you how you can find a for sale by owner property using Zillow. I am going to be covering what is for sale by owner, why people do it, and how you can find for sale by owner properties near you in Zillow. So by the end, you are going to learn everything that you need to know on how to find for sale by owner properties in Zillow so that you can save money and access more properties. So enjoy, sit back and relax! — HELPFUL TOOLS — ✅ Connect with a great home buyer AGENT or LENDER in your city → https://app.tryhomeflow.com/find-great-buyers-agent ✅ Download HomeFlow, The Smart Home Buyer App → https://lauramoreno.com/homeflow/ ✅ Schedule A Free 20-Minute Home BuyerStrategy Call → https://calendly.com/ms_homebuyer/20-minute-call ✅ Get The Smart Home Buyer Calculator → https://lauramoreno.com/calculator/ ✅ Buy or Sell your home in Brooklyn, New York using Laura Moreno as your agent → https://lauramoreno.com/hire-me/ — RELATED VIDEOS — ⭐ 10 First Time Home Buyers Mistakes - https://youtu.be/G0pkb1FvG5s ⭐ How Much House Can I Afford? - https://youtu.be/dAYEj1_5G_I ⭐ How To Find A Great Agent? - https://youtu.be/7F6LoQeCzaA ⭐ Top Questions To Interview Your Agent: https://youtu.be/nIGpPD05IQQ ⭐ Playlists - https://www.youtube.com/c/LauraMorenoCabanillas/playlists - DISCLAIMER - Laura Moreno is a licensed real estate agent in Brooklyn, New York with eRealty as of the time of making this video. All information given is meant to be educational and be a starting point in your home buying/selling journey. All topics in my videos are based on my prior experiences, please double-check and confirm/consult with a local licensed professional real estate agent or mortgage lender if it applies to your situation.

HousingWire Daily
Finding opportunity in this real estate market

HousingWire Daily

Play Episode Listen Later May 11, 2022 26:28


On today's episode, Editor in Chief Sarah Wheeler talks with Editorial Director Tracey Velt about how real estate brokers and agents who have been through down cycles before see opportunity in the current market. The two also discuss brokerage leadership, commission splits and what Zillow is up to.HW Media Articles related to this episode:KW Go's Smokey Garrett on how to prepare for a market shiftPicking up the pieces: Zillow has profitable Q1

Ad Law Access Podcast
NAD Judges a Popularity Contest

Ad Law Access Podcast

Play Episode Listen Later May 11, 2022 4:18


Gonzalo Mon wrote: NAD recently issued a decision in a challenge that Zillow brought against Apartments.com involving a humorous campaign that featured Jeff Goldblum. The decision covers a lot of ground, including some issues that may be unique to the rental market. For today, though, we'll focus on an issue that spans industries and comes up frequently. Specifically, we'll look at popularity claims, such as the advertiser's “The Most Popular Place to Find a Place” tagline and a couple of “#1” claims. Blog - https://www.adlawaccess.com/2022/05/articles/nad-judges-a-popularity-contest/ Contact Gonzalo E. Mon 
gmon@kelleydrye.com
 (202) 342-8576 
Bio - www.kelleydrye.com/Our-People/Gonzalo-E-Mon www.kelleydrye.com Hosted by Simone Roach Produced by Jeff Scurry

Chit Chat Money
Why Does the Stock Market Go Up? With Brian Feroldi

Chit Chat Money

Play Episode Listen Later May 11, 2022 43:39


Brian Feroldi joins us to discuss his new book, "Why Does The Stock Market Go Up?". We start the discussion off by catching up on Zillow and how the company has done over the last few years. Listen in to hear Brett, Ryan, and Brian banter about Zillow and the stock market as a whole. Enjoy the show! We will conduct Bonus Interviews periodically whenever Brett and Ryan are eager to speak with a certain guest but know that the discussion wouldn't fit our traditional show format. Sign-up to 7investing with code "MONEY" and get $100 off your annual subscription: https://7investing.com/subscribe/ Buy Brian's book here: https://www.amazon.com/Why-Does-Stock-Market-Everything/dp/1735066168 Want updates on future shows and projects? Follow us on Twitter: https://twitter.com/chitchatmoney Contact us: chitchatmoneypodcast@gmail.com Timestamps Zillow | (3:18) Brian's New Book | (12:52) Financial Literacy | (24:12) Disclosure: Chit Chat Money hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation. Brett Schafer and Ryan Henderson are general partners and portfolio managers at Arch Capital. Arch Capital and its partners may hold securities discussed on this show. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Premature Millionaire Show: The Show About Achieving Succes and Learning from Failure
Is The Real Estate Market Crashing? (What We Learned From Zillow's Earnings)

The Premature Millionaire Show: The Show About Achieving Succes and Learning from Failure

Play Episode Listen Later May 10, 2022 6:53


Today we look at Zillow's earnings to see if their guidance tells us anything about the real estate market. Listen and Enjoy :) Here is my Motivation Podcast Connect with me on LinkedIn Leave a Review --- Support this podcast: https://anchor.fm/premillshow/support

Pros & Content
Content-Fueled Growth with Zillow, Chime, Nielsen, Dropbox, and Paul Hastings

Pros & Content

Play Episode Listen Later May 9, 2022 43:24


Modern leaders recognize that a holistic content strategy not only connects data, product, sales, and marketing, but also helps reduce customer acquisition costs while fueling demand generation and growth.Hear from five growth leaders from different industries as they share how they make content-driven growth the core of their strategies (and how they tackle top-down mandates in their day-to-day). PANELISTSAnda Gansca | Co-Founder and CEO, Knotch (Moderator)Lindsay Chastain | Vice President, Brand & Growth Marketing, ChimeAlison Gensheimer | SVP, Global Digital and Growth Marketing, NielsenDeborah Holstein | VP, Global Marketing, DropboxRavi Kandikonda | Senior Vice President Marketing, Zillow GroupShade Vaughn | Chief Growth and Communications Officer, Paul HastingsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Market Proof Marketing: New Home Builder Marketing Insights
Ep 212: Here Comes The Massive Housing Disruption with Rob Hahn

Market Proof Marketing: New Home Builder Marketing Insights

Play Episode Listen Later May 9, 2022 58:50


Market Proof Marketing · Ep 212: Here Comes The Massive Housing Disruption with Rob Hahn Kevin Oakley is joined Robert Hahn, Managing Partner of 7DS Associates, cohost of the podcast Industry Relations, and writer of NotoriousRob.com. They discuss the potential mass disruption coming to the real estate world when it comes to cooperation compensation for real estate agents and what builders need to know. They touch on the illusion of permanence in the industry, the impact of the rising interest rates, and more.Kevin Oakley and Robert discuss:Why the home buyer demographics are bizarreWhy permanence is the illusion of every ageWhy Rob thinks iBuying will constitute 60% of the marketThe reason Rob is watching Opendoor, Zillow, and CoStarWhy Rob believes that houses aren't too expensive but instead the dollar is inflatedIf they think there will be an increase in resale homes on the market this spring/summerQuestions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities in the Market Proof Marketing Facebook group.Subscribe on iTunes > https://now.doyouconvert.com/mpm-itunesFollow on Spotify > https://now.doyouconvert.com/mpm-spotifyListen On Stitcher > https://now.doyouconvert.com/mpm-stitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, Jackie Lipinski, Julie Jarnagin, and other team members from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you!Opendoor is a supporting partner of the Market Proof Marketing Podcast. Visit Opendoor.com/doyouconvert to learn more about how you can partner with Opendoor. Offer eligibility varies. Opendoor is represented by Opendoor Brokerage Inc., License 02061130, in California and Opendoor Brokerage LLC in its other markets.  The post Ep 212: Here Comes The Massive Housing Disruption with Rob Hahn appeared first on Online Sales and Marketing for Home Builders - DYC.

Numbers by Barron's
Nvidia to Pay $5.5 Million SEC Fine

Numbers by Barron's

Play Episode Listen Later May 9, 2022 4:34


Nvidia settles charges involving cryptocurrency. Analysts cut price targets for Zillow. And Chinese electric vehicle maker NIO will list in Singapore. Host: Jacob Passy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Soul & Science
Episode 9: Former Zillow CMO Aimee Johnson / To Move Is To Grow

Soul & Science

Play Episode Listen Later May 9, 2022


As a former senior executive at Starbucks, Aimee Johnson knows a thing or two about customer experience. While waiting in line was part of the community experience for some, the Starbucks' app was also a critical timesaver for others. Aimee had to convince leaders at the democratized brand that tech could also have heart. In her most recent role as CMO of the Zillow Group, Aimee juggled how to build an online brand that showcased the dream of real estate with the realities of qualifying for a mortgage. With more than 30 years of high-level marketing experience, including years at Campbell Soup Company, Aimee joins the pod to share insights about product development and digital transformation at Starbucks and brand differentiation at Zillow, when the rest of the industry starts to copy you. Maybe her best advice came from her father, - don't listen to anyone's bullshit. In this episode you'll learn: That sometimes waiting is part of the community experience How to align internal groups by leaning into customers habits Why this Brené Brown fan agrees that vulnerability and values are your strengths Sustaining a consumer relationship that could take years to actual point of sale Why her mantra on digital transformation comes from Einstein: ”The true science of intelligence is not knowledge, but imagination.” Brought to you by Mekanism

ABQ Connect
Brian Cochran

ABQ Connect

Play Episode Listen Later May 6, 2022 11:31


John Moore Associates, Brian Cochran discusses home prices and Zillow's predictions. How will the Fed's 0.5% rate increase affect the average American? The post Brian Cochran appeared first on ABQ Connect.

Motley Fool Money
Jobs, Rate Hike, Stocks on Sale

Motley Fool Money

Play Episode Listen Later May 6, 2022 39:01


Busy week for investors as the April jobs report came two days after the Federal Reserve raised interest rates a half-percent. (0:30) Ron Gross and Jason Moser discuss: - Pitfalls and potential for stock investors - Rocky times for e-commerce companies Etsy, Shopify, and Wayfair - Booking Holdings and Marriott leading the travel industry - AMD defying expectations - Under Armour hitting an 11-year low - The latest from Zillow, Block, and Starbucks   (19:00) Malcolm Ethridge, CFP and host of “The Tech Money Podcast”, weighs in on the Nasdaq selloff and the potential for commercial real estate. He also offers a sneak preview of his upcoming book!   (34:15) Jason and Ron discuss a new breakfast innovation and share two stocks on their radar: Outset Medical and Domino's Pizza.   Stocks discussed: ETSY, SHOP, W, BKNG, MAR, AMD, Z, ZG, SQ, UA, UAA, SBUX, OM, DPZ   Looking for 15 more stocks and 5 ETFs? Get a copy of our free investing starter kit at http://fool.com/starterkit   Host: Chris Hill Guests: Jason Moser, Ron Gross, Malcolm Ethridge Engineer: Dan Boyd

The Remote Real Estate Investor
Here's what you need to know about investing in the Greenville SC market

The Remote Real Estate Investor

Play Episode Listen Later May 6, 2022 29:55


In this episode, we are joined by Matt Crawford and Alex Fischer, two Roofstock Certified Agents, to discuss the Greenville and Spartanburg South Carolina markets. We cover the different asset classes, neighborhoods, demographics, price points and return metrics, short term rentals, geographic considerations and much more. If you want to learn more about investing in South Carolina, Matt and Alex have the goods. Contact Matt and Alex at: acquisitions@evernest.co --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   What's going on everyone? Welcome to another episode of the remote real estate investor. I'm Michael album and today I'm joined by Matt and Alex, two of our agents as part of Roofstock Certified agent network down in South Carolina. And they're going to be talking to us today about the Greenville and Spartanburg markets and everything we as investors need to know about it. So let's get into it.   Matt Crawford, Alex Fisher, how are you guys?   Man? We're doing great Michael here. Thank you guys so much for having us. Good to be here.   I guess. Yeah, our pleasure. So I know you because I work with you guys regularly as part of our certified agent network with Roofstock. But for anyone who might not be familiar with who you are, give us a quick rundown who you are. Where do you live? What what markets do you operate in? And what is it that you're all doing in real estate?   Absolutely. So for everybody out there, you know, welcome to the Roofstock remote podcast as you guys know, Michael, he's a champion of the people he's the one in the van rockin. But for us, you know me now it's we're the greatest broker Team roofstock has ever seen. That lightly, but I do mean it. I think we're very passionate about we, that what we do, how we present the products to you guys, as consumers. And as the educational base, you know, we're very thankful for the opportunity. So we represent a couple of markets here in South Carolina. It's where Alex and I are born raised. Alex, you want to add two cents on top of that, sir?   Yeah, I mean, obviously, our hometown is Columbia, really anywhere in South Carolina. That's where we have most of our experience. And you know, we love doing nothing more than trying to get out here and make some people some money and find some good deals. So our obviously our go to is going to be South Carolina areas. Love it.   And why did you guys partner up? And how did you two meet?   That's such a long story. But it's been we've been kicking it for, like 12 years. And and you know, and we're both we're both 32. So I mean, we were we were young lads and our ladies at the time were like best friends. And you know, Alex's wife was always talking to my girl about meeting Alex and I thought he was strange because he was like, a financially adept teenager, like Alex had his first house and like nine years older, or like, 19, whatever. Don't none of those. And meet Alex just kept kicking it in. You know, Alex was working at one of the top four consultancy firms. PwC. And I was out in Denver, sort of so notes and Alex, you know, hats off to him. He'd call me like, every week, checking up on me, and it's like, Matt, you know, we got to get new real estate, we have the potential. He really convinced me to move back to South Carolina. And fast forward five years. We have our own companies now.   Love it. All right, you too. Well, let's talk about Greenville and Spartanburg, South Carolina. It's a market that I'm not very familiar with. And so we're going to, you know, talk to me, like I'm five years old walked me through. Why is are these markets? Interesting? Why should people be interested in investing in rental properties in these two markets? Yeah, so   I guess the main differences between, you know, the Upstate and Columbia is property values are a little bit higher. You know, Greenville is an incredibly cool city, especially compared to Columbia. So it's, it's pretty big, and it's owned, but there's a lot around Greenville, which would, you know, be the mountains, you know, it's convenient to the beach, which is maybe about two and a half, three hours away. But also, you've got the North Carolina, you've obviously got, you know, Clemson around the area. There's a lot of opportunities in regards to Reynolds because there are a lot of colleges around there. But you know, our biggest thing is pushing the appreciation, you're going to see that the rents are not keeping up as much with the property values are at least as quickly. But the good news is they are good opportunities for long term holds because of the appreciation and from what we've been seeing the appreciation there in the upstate in general is just much stronger than it is in Colombia, that the good thing about Colombia is the opportunity for rents because the rents are keeping up with the property values, but I think we're going to see a lot of that stuff slowly. You know, I guess level off a little Bit just based on how the market is kind of moving now. So then the rents will eventually kind of just end up evening out with what the appreciation is actually doing.   And Matt, who are some of the big employers, I know, Alex, you mentioned, Clemson and a lot of colleges around there, but are other than college students and college faculty. What are people moving to the area for for your typical jobs? I mean, are there big employers there?   Yeah, you know, I think Michael, you know, putting you in the frame of mind of like a new investor coming into South Carolina, and for all the investor, and whether you're 18 years old, looking for your first rental or a seasoned investor with 100 properties, I always like to sort of start at the origin story of the market. And Greenville upstate in general, is like the textile industry of the US. I mean, you got to look historically, in South Carolina and the South, you know, this is where a large majority of the cotton of the Indigo dies of anything the derivative of the textile industry, really was created. And that really set its roots into Greenville and to Spartanburg itself. So Greenville still has a ton of products from that era, which include huge textile mills. What that means from an investor's standpoint, is that you had all this workforce housing, you know, even my mom was from easily, which is about 25 minutes from downtown Greenville. They grew up on the Mill Hill. And so as you can imagine, it's perfect substance for the gentrification to happen, you know, and it's not 20 years ago, where we could buy a house for 75,000. And now it's worth 500. But you can still follow that development curve does molding out of Greenville into areas like easily fantastic market to look into. The biggest one, I think the all star of this podcast for everyone listening is going to be Travelers Rest. And I think Alex knows a lot about this as well. Because Greenville on the Clemson grab, right, Clemson, Clemson Tigers, you know, we're about 30 minutes past Greenville. And so I got to see this beautiful development happened in Greenville, which is just created a pretty high saturated market. So now for any investors and yourself, Michael, you know, I think pushing to the satellite markets that are still quite contingent to Greenville population and economic drivers makes the most sense. So that's really were trout interest is becoming an all stock market, low property purchase prices, you know, you're talking three twos 175,000 or less, the really good median rents, almost to the 1% rule. I don't think it's as sexy as here in Colombia. It is just because Greenville has already seen so much more maturation than here in the middle the state says Greenville, so biggest thing on Greenville. Here we go Pierre's driving in and if we drive in, travelers risks going to be you're looking at o'clock at 11 o'clock to us. So guys, if you're out there, you're wanting to see properties. I can guarantee if you Zillow, Greenville, you're gonna see stuff for like 300,000 400,000 that rinse 2500 or so now you go up to Travelers Rest, those economic numbers are totally going to flip flop. So please feel free to look at these kinds of products is the same MLS as Greenville. So Alex and I will be publishing properties. And then if we come back to the center of the city in Greenville, and look at nine o'clock on the clock hands, you're going to look at easily so it's directly to the left of Greenville. Sort of right in the left there to the screen. Thanks, Pierre. Also a great case study for what's happening in this market. As a lot of the renters, the investors and the development dollars are starting to bleed out of Greenville, which is sort of the cool analogy as Greenville really had its foothold in the indigo dye business. So if you can imagine this indigo dye starting to come out of this central geo easily is fantastic. You can still find great inventory. But even as Alex and I thought, Hey man, let's open up the upstate with roof stock ease these going to be just fish in a barrel. It's not the case. You know, it's still very, very saturated with investment and institutional dollars, which puts Traveler's Rest as my number one submarket   You heard it here first, ladies and gentlemen. I love it, Matt. And to give people kind of a frame of reference, what was the general population of Greenberg? MSA?   Yeah, I think it's almost like 500,000 Okay, so it's pretty massive city. definitely bigger than I think it's like the fifth or sixth largest city in South Carolina. I definitely Being a local think it's like, probably number two of like, most sought after livable millennial culture cities. I think it goes Charleston and probably Greenville. And you know, guys, if you're looking for Airbnbs, totally different ballgame, we're talking totally different set of data here. But the short term rental market in Greenville is off the charts. And I think that is, yeah, definitely is perfectly perfectly tied to the nightlife and the culture that Greenville has done. And even just to dig a little deeper here, you know, 25 years ago, there really wasn't a main street or a main vein in Greenville, in fact, what they call false Park, which is a main park, and mainstream Greenville was beautiful, natural waterfall, it was actually covered by an overpass right here appears on a false park on the reading. So the Reedy River cuts to the city, this used to be covered up. And now in the last 10 to 15 years, they've probably dumped 100 million or more into this gorgeous walkable facility that has these natural features are just a beautiful suspension bridge. And that is has created this really nice culture that is in Greenville. And I think that's why the short term rental market really works if you're looking for higher property purchase prices, but I think your Airbnb models will be rock star here.   That's really interesting that and so talk to me a little bit about property taxes, because I think that's something that's always on people's mind is one of the a big expense that can either make or break in investment. So how do those work in in South Carolina? Or maybe more specifically, in Greenville?   Yeah, so typically what we do, and a lot of people don't realize this from the get go, but everybody's looking at Zillow, you can go to any house, and you can see what the roughly what the what the taxes would be. However, with Columbia, South Carolina, in general, the property taxes are different, you know, there's two different types of property taxes, you got an owner occupied and the non owner occupied and people don't realize the non owner occupied is obviously, you know, the, these big investors that come in, these are the taxes that these guys are gonna have to pay the small guys, whatever. So when you live in the house, and you look into Zillow, you're gonna see one number, but in reality, that number can essentially be doubled, when you start to consider that you're actually going to put a renter in place, which is a huge buzzkill for a lot of investors. But at the same time, once you kind of understand that is the case, now you can kind of work your numbers around you can kind of you'll you'll look in a different direction for the opportunity, I guess you could say. But typically, what we tell people is when it comes to taxes, the non unoccupied rate is going to be roughly and again, this is just a rule of thumb, this is not exact, is about two and a half percent of the purchase price that will give you a good gauge on, you know what your monthly cash flow would be. And as you can imagine, you know, what I would say is, you know, the owner occupied tax rate is probably around one to, you know, one and a half percent. So as you can imagine, you do the math, it's almost double what the the owner occupied rate is, which is very unfortunate. And that's probably been our biggest hurdle for the South Carolina markets. But again, you know, it just allows us to kind of, you know, I guess stretch our fingers out and see what we can find in regards to more off market properties. Maybe some smaller homes, but it really does make it more difficult for investors to actually go out and find something just because it does, it does hurt the cash flow a good bit.   Yeah, that makes total sense. And we talked a lot about Greenville. What about Spartanburg? What Should folks be aware of and where should they be looking out there?   Okay, cool. Cool. Let's uh, so drive the car, probably about 45 minutes east. And now we're at Sparkle city baby, which is sort of just a local term slang for Spartanburg that I can give no context to. I have no idea why they call it sparkle city, but it makes for a fantastic nickname. Totally. So we're driving the sparkle city. Or we're laying it down and to me, and I think even to Alex's standpoint, I'm a bigger fan of Spartanburg than Greenville. Granted, you know, snagging the Airbnb downtown mainstream Greenville. Sounds awesome. I think if you're looking to build long term rental portfolios, maybe two or three a year you're wanting to be in Spartanburg. That's just because it's more like a It's not rural in the sense, but it's more workforce housing. I think Greenville, you're going to be playing with a lot of individuals that are potentially, you know, making 80 to 100 grand a year. Not necessarily looking for a true three two rental whereas in Spartanburg it's definitely labor force and I think you find that labor force In the biggest BMW plant in the southeast, so BMW Michelin all have one of their largest manufacturing plants, right outside of Spartanburg. I think all the x five series beamers in the world are made here in this BMW plant. Which is beautiful. Yeah. So like you drive by it as it's as gorgeous setup. So really, really cool. And I think that's driven, this workforce class of tenants that you would see, of course, there's 10 colleges in Spartanburg. And if you were to visit Greenville, you're like, oh, man, this place is poppin. Like, there's Michelin star restaurants. In a beautiful downtown, you go to Spartanburg, there's like, you know, mom and pops, Biscuit Company, you know. But what you want to see, and from an investor's perspective, which I think looks good, is right downtown, is this brand new five star hotel, super swanky, beautiful rooftop, you walk into it, and you're like, oh, there's money here. Something's happening. And so to me, that says that a lot of these development dollars that have been looking around different GEOS here in South Carolina, finally, have seen Oh, Spartanburg is a super viable market, I would say maybe it's like Greenville, 15 years ago. And talk quick numbers. Whereas if you were in Greenville, your three two is 250,000. Your three two here is going to be a buck 50. So I mean, we're talking about $100,000. And price changes now that is reflected in the rent rates. That three two in Greenville is definitely a 1550 1695 monthly rent products. That same three two here in Spartanburg, you know, you are going to be looking at like 900 to $1,200. And I think that's just positioned on the type of tenant that we're commonly seeing here. But inventory is easier, you're not going to have such a saturation of buyers unless bidding wars. So I'm big fan and pro tip, bing, bing, bing, for everybody out there listening, I think, I don't know if you're gonna make that a sound but I'll do my own AdWords. I think that you know, me and Alex like, you know, we're we're we have a large acquisition base for different companies. And we're last two years has been a gauntlet with interest rates at 2.3%. Back in January of 2021. As of this year, this month, I just checked really like 5.6. And what we're seeing when we're checking foreclosure lists, we're looking at so many different counties across about 30 Different in essays is things are doubling every single month as far as foreclosures, as far as the evictions that are actually being filed in process. So what that means for you guys, as investors in the audience of the podcast is you get your cash ready. I think the bidding wars are the are finally starting to water down. So whether it is green, or whether it is Spartanburg, you're gonna see a lot more inventory and I think you're gonna have a lot more purchasing power, especially if you're coming with some kind of liquid cash on the deal.   Okay, good to know and what areas of Spartanburg really excites you.   You know Spartanburg,   if you made your number one call for Greenville, what's your number one call for Spartanburg   easy shot right in the heart of Gaston. Gaffney is just a subset right out of Spartanburg, you know I think Spartanburg is old enough to where you can put a stake downtown, though a 30 mile radius around it, and go shopping. That's how I would look on Zillow. But Gaffney in particular, a sub market really great, right on.   And if someone is coming into the South Carolina Market, just in general, or maybe these two markets specifically, what things should they be aware of? What's kind of common practice par for the course, like as an example out in California, we have termites, and so if you see a little bit of termite damage, that's not the end of the world, you can get it fixed, depending of course, about where it is and how pervasive it is. But what are some things that people should expect to see that might be red flags in their home market, that they shouldn't be too worried about?   Let's see around here. One of the more common things that, you know, becomes concerning, I mean, it comes concerning to anybody, but it is pretty normal. It's just more foundational issues. You know, having cracks in the foundation, unfortunately, is normal. But you know, when and I don't know how it is in California, but I know the second somebody sees you know, foundation cracks and stuff like that. It's definitely it becomes something very worrying. But from our perspective, we're like, look, this is normal. You know, we there's plenty of companies don't get me wrong, there are expensive, but there are plenty of companies that can go and help remediate that. At However, even at that point, you know, it's pretty easy to gauge, especially on the inspection reports how severe it's going to be. As long as it's nothing that's like, overall, structurally is going to be concerning, then we don't see it being a big deal just because it is normal. But again, that's from our perspective, we've never seen anything major come up. And if we do, you know, we were able to read through the inspection report and say, you know, hey, maybe we should get one of these guys out here from you know, foundation companies go have a look. But outside of that, from our perspective, that's fairly normal on any house, you end up going under contract on.   Yeah, totally agree with Alex there, we get all the crazy questions to Michael. A lot from this, this Cali investors are coming in even New York people. I'd say like, every time we have a California guy or girl, which we love, y'all, and we've even had a couple of really amazing people come meet me and Alex, here in South Carolina, from the properties that we've helped acquire. So shout out to all those guys, but they're always like, doing the hurricane insurance or like Ardea tornadoes, which is a regular thing to ask the Dow none of that, you know, soccer right, super chill, you know, especially Columbia. We're landlocked, you know, Charleston, definitely, you're gonna have hurricanes. But Greenville, it's good. I think on average is like five inches of snow, which is hit or miss. So very mild climate, and even sort of changing that question of as globally for South Carolina as an outdoor investor, what I would say to make it interesting is like, follow football. It was just about, you know, football, I think is really important to the nature of these different cities. So you know, Clemson University, if you're paying attention to that college, when they were rockin, it created this huge investment opportunity like massive, I cannot express how big the in real estate investment opportunity that was created offset football program. And it's the same thing with the Charlotte Panthers. They're building a brand new practice stadium and Rock Hill, investors are looking at these different data metrics. And even in Columbia, South Carolina with the University of South Carolina's football program is I would just pay attention to those sorts of fun monikers. And that's just another lens to look at an investing and what is important to that specific Geo. And those are just one of the very relatable things here in the South Carolina Market.   Now, that makes total sense. I know one of our other coaches, Tom Schneider, he loves looking at sports teams, and where they're moving and where they're building stadiums, because that's a huge, huge indicator, like you mentioned about like the hotel, big money going into an area. That's great. That's great. I'm curious to know, from your guys's perspectives, what should buyers be aware of how can they be more competitive? And how can they work better with you all and your teams to be competitive and win offers?   Well, so I'll actually say from my perspective, just to kind of give my quick little two cents, because we do see this daily. But our biggest thing is, you know, we've got a team of people that are behind, you know, the whole coordination piece, our number one goal is to get offers out the door at this point is kind of like you got to unfortunately, this isn't like it was two years ago, maybe you can make an offer on a house. And you know, there's only two other offers on it. Now. It's like you make an offer on a house. And now there's about 20 to 30 other other offers on it when you consider in these bigger markets like Columbia, Greenville, and Spartanburg. This is where all the big institutional guys are. And so these big institutional guys are buying in cash, which means you know, if you're buying through financing, it's going to make it very, very difficult to be competitive, especially with a lot of these guys doing, you know, three day diligence, five day diligence, which is something we don't really recommend, mainly because you know, it's very difficult to even get anybody out there and then get a report back. So our biggest thing is and kind of what we we feel like we can control on our end is the amount of offers that actually do go out. So instead of just pinpointing and finding, like, Hey, this is my favorite property, I want to try to win just this one. Our goal is, look, you just got to start, you know, shooting out offers, which is what our team is capable of doing. And then just hope that one sticks in don't get me wrong, obviously, we want the offers to be calculated. But you know, if you kind of get this tunnel vision and try to purchase one house and try to win that one house, you're you're going to be disappointed. There's nothing wrong with just trying to shoot out some offers. That's what our team can do. And all you got to do is just let us know where you go. Obviously go to roofstock and just start clicking on. Hey, I want to make an offer here. I want to make an offer here. But to your point, I mean people are getting over bid. The market right now is kind of unfair just because of these institutional guys. So if there's anything we could at least just give somebody as a takeaway is just make offers. Right now it's a numbers game and hopefully one will stay Pick, but you'll be a lot more likely to stick something than you would if you just try to, you know, kind of become narrow, narrow vision and try to make one offer at a time. It's just going to make it very, very difficult which is with with the way the market is now.   Yeah, makes total sense. Well, sir, I agree. That's perfect. Yes. Awesome. Well, guys, any final thoughts, tips, tricks, tidbits for folks that are listening things you think you want people to be aware of, of South Carolina Market?   You know, I think the, you know, quick sentiment, you know, to leave with you guys out there is, you know, me and Alex have been doing this for quite some time. I know, we're, we're young in blood, but we're old and experience, we're, you know, probably pass or 25th 100, you know, transaction, we've been a part of all these have been investment base. So we're not a residential agent. We're both brokers. So we really have put this as our passion, and our our life loads to support our families. So I think being a resource for you guys, your boots on the ground, providing all of our resources, we do our own flips. And we know the headaches with the flips, you know, we've gone through several, many several Renaud teams, and we've had to create processes and procedures to make sure that we're hitting our numbers and our timelines, and all of that experience, and physical resource, all these teams will be more than happy to open up that toolbox for you guys. Same thing with lenders, you know, dealing with, you know, tons of roofstock, transactions and ELTs. And otherwise, you know, we've pinpointed the best of the best. So, that being said, you know, I'm really, really proud of the team, Alex has helped create, the toolbox that we pieced together, and the family that we met at roofstock. And we want you guys to dig in the toolbox. Come and play. And I think we do it a little different. And that's what makes us stand out. I think, not just selecting property by property like Alex's was saying, Look anywhere look on Craigslist, Zillow, you know, wherever you want to and send us five properties and we don't mind drafting up five offers going out fishing, and if one hits great if several hit, you know, buy them all or pick the best one and we can drop during due diligence. You know, the biggest thing and I will put this star on our chest is we've never lost earnest money in our entire career. And that's because that's pretty impressive. The systems and the communication, you know, that's, that's over 2000 deals we've gone we've never lost it once and I remember Alex was like, Dude, we're never going to because he's, he's come from that consultancy background he has processes and automations to protect you guys and so love to show you these features, talk shop Let's rock and roll and really appreciate everything   Right on. What's the best way for folks to get in touch with you guys?   It's gonna be acquisitions@evernest.co so evernest.co And how I would like to do it is just shoot us an email and the team will set you up a call with me and Alex if you want to just chit chat or if you just want to jump into the rain like email five properties and say hey, I want to run these through the byo P program we Russa heard your podcast It was very strange.   And and we'll hook you up man this is like getting smarter. So that's a you know that's a sale how easy it is and we'd love to show you South Carolina. Another quick thing as you know, me and Alex do this across about probably like 10 states now you know we're from Texas, to Florida and about the southeast coastline. And I still very much like South Carolina and the data shows it has a lot of fruit. So come and join us and let's get financially free   Right on well thank you for taking the time hanging out with me I really appreciate it and can't wait to see we both go from here.   Michael you're the greatest, Pierre back there driving the ship Thank you sir. And to everybody tuning in. Keep catching the next episodes and good luck investment.   Right on, thanks guys. Talk soon.   See ya.   Okay, everyone, that was our episode A big thank you to Matt and Alex for taking the time hanging out with me and giving us all a driving tour of Spartanburg and Greenville. Definitely, definitely two markets that are worth checking out. As always, if you liked the episode, feel free to leave us a rating or review. Those are super helpful for us, and we look forward to seeing in the next one. Happy investing

The Financial Exchange Show
Rising Rates Irk Homebuyers // Paul LaMonica: Did Wordle Boost NY Times Subscribers? - 5/6 (Hour 2)

The Financial Exchange Show

Play Episode Listen Later May 6, 2022 40:29


(1:29) - Starting the final hour of the week with a discussion about how rising mortgage rates are stretching the budgets of homebuyers.(12:42) - Talking about where Zillow went wrong as the stock continues to sink after losing 20% of its value over the last month.(22:25) - Stack roulette.(35:07) - Paul LaMonica of CNNBusiness called into the show to tell us about The New York Times' success since purchasing Wordle.

Office Hours with Spencer Rascoff
City Talk: A Conversation with Mayor Stephen Adler of Austin, TX

Office Hours with Spencer Rascoff

Play Episode Listen Later May 6, 2022 22:55


Spencer caught up with Mayor Stephen Adler at the Milken Institute Global Conference on May 2. Mayor Adler is the 58th mayor of Austin, Texas—a city that, along with L.A., has grown into a thriving hub of tech startups over the past two decades. Mayor Adler has received praise for his administration's focus on innovation while staying true to the city's slogan: “Keep Austin Weird.” Mayor Adler was born in Washington, D.C. and attended Princeton and the University of Texas Law School.

Alles auf Aktien
Schwarzer Donnerstag für E-Commerce und die neuen Klima-ETFs

Alles auf Aktien

Play Episode Listen Later May 6, 2022 15:53


In der heutigen Folge „Alles auf Aktien“ sprechen die Finanzjournalisten Anja Ettel und Holger Zschäpitz über schwere Zeiten für den Online-Handel und kluge Umweltschutz-Investments. Außerdem geht es um Shell, Airbus, Twitter, Cloudflare, Zillow, Hubspot, Blok, Shopify, Ebay, Zalando, Wayfair, Etsy, AboutYou, Amazon,  Sea ltd, Coupang, Home24, Westwing, Jumia, Mercadolibre, Glore Fonds (WKN: A14N9A), iShares S&P 500 Paris-Aligned Climate ETF  (WKN:A2QQYY), Amundi Euro iSTOXX Climate Paris Aligned ETF (WKN: A2P6TR)  Wir freuen uns an Feedback über aaa@welt.de. Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. Außerdem bei WELT: Im werktäglichen Podcast „Kick-off Politik - Das bringt der Tag“ geben wir Ihnen im Gespräch mit WELT-Experten die wichtigsten Hintergrundinformationen zu einem politischen Top-Thema des Tages. Mehr auf welt.de/kickoff und überall, wo es Podcasts gibt. +++Werbung+++ Hier geht's zur App: Scalable Capital ist der Broker mit Flatrate. Unbegrenzt Aktien traden und alle ETFs kostenlos besparen – für nur 2,99 € im Monat, ohne weitere Kosten. Und jetzt ab aufs Parkett, die Scalable App downloaden und loslegen. Hier geht's zur App: https://bit.ly/3abrHQm Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

Live UNREAL with Glover U
Top Producer Panel Part I: Differentiators - Becoming The Subject Matter Expert & Tricking The Social Media Algorithm

Live UNREAL with Glover U

Play Episode Listen Later May 5, 2022 31:13


In today's episode of the podcast, we're going to talk about what it takes to differentiate yourself in the real estate landscape. Jeff is joined on stage by an agent who got licensed in 2020 and sold 15 homes in 30 days, and a broker who has mastered Facebook's algorithms.    Russell Vinson and Therese Anthonelli share the strategies they are using to stand out and win business in a highly competitive market. You'll learn one way to position yourself as a true subject matter expert, and how to use social media to your advantage.    We also discussed; Why knowledge of product makes you a better salesperson  How to put yourself on the map by marketing other agents' listings  Why we shouldn't negate Zillow as a credibility marker  Quotes  Anytime you negate anything related to Zillow, you're actually losing credibility with your clients. -Jeff Glover     If I wanted to put myself on the map and gain any type of awareness, I needed to be different. -Therese Anthonelli    Key Points  1. One of the things that make us stronger as salespeople is knowing as much as possible about the product we're selling. If you know the different structural aspects of a home, it's something you can add to our value proposition. There's an easy way to do this - bring in a home inspector to take you through every line item, and learn what needs to be fixed and how much it will cost.  2. In order to differentiate ourselves, we have to stay current in terms of knowledge and marketing. It's really easy to become complacent in what we know and what we're currently doing, but that makes it really easy for other agents to replace us. If you've made the decision to be an agent and to lead others, you have to stay on top of what's happening. 

Mail-Right: Real Estate Agents Show: About Technology & Online Marketing & Getting Seller Leads
#336 Mail-Right Show When should I own a real estate website?

Mail-Right: Real Estate Agents Show: About Technology & Online Marketing & Getting Seller Leads

Play Episode Listen Later May 5, 2022 35:03


When should I own a real estate website? When should I own a real estate website? Many real estate entrepreneurs wonder when is the right time to own their own real estate website. What are the pros of owning your own website against not owning your current website, which most realtors are unaware of? There are a ton of service providers like Ylopo, Zurple, Zillow, Luxury Presence, Real Estate Webmaster, Sierra Interactive, Real Geeks, Easy Agent Pro, and many others that offer websites you can not own. Their websites may provide you with control over iteration but are limited. Given that these service providers are highly capable of what they do, you are literally giving all the revenue and upside potential of your own brand to these service providers. https://youtu.be/exUf5e_3jhQ The Hosts of The Mail-Right Show Jonathan Denwood https://www.mail-right.com jonathan@mail-right.com 775-372-6322 Robert Newman InboundREM https://inboundrem.com

Real Simple Tips
These 7 Features Will Boost Your Home's Value in 2022, According to Zillow

Real Simple Tips

Play Episode Listen Later May 5, 2022 4:31


Plus, the best time to list your home for the biggest return.

The Home Pros Radio Show |The Home Improvement and Repair Podcast
Ep299 - Salaries, Sasquatches and Zillow Gone Wild!

The Home Pros Radio Show |The Home Improvement and Repair Podcast

Play Episode Listen Later May 4, 2022 13:10


The Home Pros Radio Show News Desk segment...  skilled trade workers' salaries are on the incline, 7ft tall Sasquatch lawn ornament goes missing, and Zillow Gone Wild!   Visit Closing Contractor here!   To reach out to RIC Home Inspections, visit them online here!   Catch the Home Pros Radio Show online here! 

Top of Mind
The Future of Second Home Ownership

Top of Mind

Play Episode Listen Later May 4, 2022 46:27


In this episode of the Top of Mind podcast, Mike Simonsen sits down with Austin Allison, CEO of Pacaso Homes, to talk about the shifting dynamics in the market for second homes. Austin gives an overview of Pacaso's innovative model for second home ownership, outlines the surprising community benefits of shared second homes, shares key considerations for people thinking about second homes as an investment, and more. About Austin Allison Austin Allison co-founded Pacaso to make the dream of second-home ownership a reality for more people after experiencing the profound effect it had on his own life. Pacaso is Austin's second startup. In 2009, he founded dotloop in his hometown of Cincinnati, a company that created software to seamlessly manage real estate transactions. Zillow acquired dotloop in 2015, and Austin continued to run dotloop as a Zillow executive until 2018. Austin started selling real estate at the age of 18 and worked in residential and commercial real estate for a decade. Here's a glimpse of what you'll learn:  A look at Pacaso's innovative model for second-home ownership The ways in which shared vacation homes have similar benefits to carpooling Why Pacaso's second homes are almost fully utilized, while single-owner second homes only get used five to six weeks per year Why the inventory shortage — especially in second-home markets — is here to stay How redirecting second-home demand frees up inventory for local primary home buyers Featuring Mike Simonsen, CEO of Altos Research A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets. Resources mentioned in this episode: Austin Allison on LinkedIn Austin Allison on Twitter Pacaso Mike Simonsen on LinkedIn Altos Research Follow us on Twitter for more data analysis and insights: https://twitter.com/altosresearch https://twitter.com/mikesimonsen  See you next week!

ClimateTech with Kentaro
11. LandGate's Yoann Hispa

ClimateTech with Kentaro

Play Episode Listen Later May 4, 2022 27:39


This week, we are talking to Yoann Hispa, LandGate Co-Founder and CEO. LandGate is ​​a leading provider of information, data solutions, and an online marketplace for US commercial land resources: solar, wind, carbon, oil & gas, minerals, and water. It's kinda like the Zillow for land resources.   In this episode, Yoann takes us through the expansive solutions they've developed in a 4 trillion plus market, including how they help landowners, real estate agents, and investors alike to understand the energy and environmental value of land resources. He also shares with us his journey as an entrepreneur, including a recent milestone of closing their Series B round.    Learn more about LandGate.   ClimateTech with Kentaro is produced by our incredible team at Persefoni and Hueman Group Media.  Learn more about Persefoni and our climate management and accounting platform by subscribing to our weekly newsletter!

True Growth con Fernando Trueba
Crecimiento Guiado Por Producto - Luis Poggi (Zillow)

True Growth con Fernando Trueba

Play Episode Listen Later May 3, 2022 63:00


Luis Poggi es el Vicepresidente de Producto e Ingeniería para Zillow – la empresa que cambió el mercado de bienes raíces en Estados Unidos. Luis se unió a Zillow en 2012 para encargarse del lanzamiento de nuevos productos cuando Zillow era una pequeña startup de 200 personas y $80M de USD en revenue. Este episodio es presentado por Jeeves ---> Ve a https://www.tryjeeves.com/?ref=TRUEGROWTH#Signup (TryJeeves.com) e ingresa nuestro código de referido TRUEGROWTH, en cuestión de días tendrás tarjetas de crédito físicas y virtuales ilimitadas para todo tu equipo. Hoy Zillow tiene más de siete mil colaboradores y factura más de $8B de dólares al año. Durante sus 10 años liderando el equipo de new ventures, Luis ha estado a cargo del lanzamiento de docenas de productos como Zillow Offers, Zillow New Construction, Zillow Buying Homes, entre muchos otros. Luis tiene una trayectoria espectacular y en este episodio platica sobre su experiencia en la formación y manejo de equipos de Producto, Ingeniería y Marketing, su opinión sobre las empresas que lideran su crecimiento con Producto y la forma en la cual maneja a su equipo para lograr la máxima eficiencia posible.

Flipping Out
Spring 2022 Real Estate Market Update | How to Navigate Market Shifts

Flipping Out

Play Episode Listen Later May 2, 2022 44:01


In today's episode, we're gonna be talking about housing market data. We're gonna look at a lot of numbers, show where those numbers are taking us, and what the market is gonna look like in the next three quarters of the year.Listen now to gain more insight into the market trends we're seeing so you can plan and decide accordingly! Key Talking Points of the Episode[00:00] Introduction[02:45] What numbers are we looking at?[03:40] Mortgage rates[05:00] What's causing mortgage rates to go up?[06:00] How is this affecting new listings?[07:16] Should you take the first offer that comes?[08:40] Numbers from Q1[11:07] Comparing markets from 2020-2022[15:03] Interest rates[16:26] Pending sales[18:26] Home sales[21:33] Home buyer competition[22:08] Contact REO Auction Academy! [22:46] Part 2 introduction[23:14] Predictions for 2023[24:10] Market peak in 2022[27:10] What micro factors affect the market?[27:43] What are the most competitive markets today?[29:36] What markets are going to get corrected first?[32:05] Market predictions in Florida[33:31] The Florida housing market today[35:20] How can we help you learn about what we do?[36:56] Number of homes for sale[37:56] Zillow's revised forecast[39:37] Why is it important to stay on top of the market numbers?[40:35] Why do you need to have multiple exit strategies?[42:45] Why am I not holding properties?Quotables“Obviously, there's a lagging effect that we can't see yet. The numbers we're looking at are based on lower interest rate numbers.”“Rates lock 30-45 days and could go as far as 60 if you pay additional points. There are rate lock features so we're probably looking at lower interest rates so we won't see until May data comes out what the true market is.”“Mortgage rates have obviously shot up here at 5.11% on a 30-year mortgage. This is the highest level on a 30-year mortgage since 2010.”“That has put a lot of people on the sidelines and I can't necessarily blame them because me, I'm trying to refinance a few things as well, that I've been working on so I'm maybe gonna wait as well for a month or two.”“I do think that mortgage rates will come down. I think a lot of this is maybe driven by the Russia-Ukraine war that's going on and a lot of the uncertainty in the world has pushed up the rates, and the value of the dollar decreasing.”“Only an average of 3.3% of homes have a price drop.”“Don't necessarily jump the gun at the first offer that comes unless it's great, it meets all terms, it meets what you want, and it's a really good buyer.”“Prices are really jumping so quickly and to me, it's mind-boggling.”“In general in the US, your biggest months are gonna be June, July, and August. May kinda comes in there too, but the start of the Spring season obviously is March, that's when you start to really see things.”“The average sale-to-list price ratio was 102%, so in other words, 2% above asking price.”“This is kinda what I thought would happen and what I was worried about potentially happening to cool it off is potentially happening right now - the interest rates.”“Since mid-February, it has taken off. This is almost a hockey stick, the way it's going up.”“I don't think it's gonna slow anytime soon. The mortgage rates are gonna cause it to bend a little bit but if mortgage rates drop again, this will continue to shoot up because people will be able to afford more.”“Historically, the average interest rates in this country are 8%. So, we're complaining about 5.11% right now, but if you go back 12 years ago, we'd have been super happy with 5.11%”“One of the biggest drivers is inventory and that continues to be at all-time lows and continues to get lower, and with interest rates jumping up, it's just causing less people to list, which is further reducing the inventory.”“The numbers are just moving too quickly right now as far as lack of inventory and the home buyer demand is just far too high for this to slow down.”

The First Time Home Buyer Podcast
Best Real Estate Agents: How To Find The Best Real Estate Agent To Buy Your Home Using Zillow

The First Time Home Buyer Podcast

Play Episode Listen Later May 2, 2022 17:54


Today I am going to cover: - Why is it important to work with the best buyer's agent - When you should find your buyer's agent - How not to find a buyer's agent - How to find several really great buyer agents using Zillow You can also find more awesome free homebuyer resources by going to https://lauramoreno.com/homebuyer_resources/ — GET STARTED — ✅ Connect with a great home buyer AGENT in your city → https://app.tryhomeflow.com/find-great-buyers-agent ✅ Buy a home in Brooklyn, New York with Laura Moreno → https://app.tryhomeflow.com/find-great-buyers-agent — HELPFUL TOOLS — ✅ Download HomeFlow, The Smart Home Buyer App → https://lauramoreno.com/homeflow/ ✅ Schedule A Free 20-Minute Home BuyerStrategy Call → https://calendly.com/ms_homebuyer/20-minute-call ✅ Get The Smart Home Buyer Calculator → https://lauramoreno.com/calculator/ ✅ Listen To The First Time Home Buyer Podcast → https://lauramoreno.com/podcast/ Laura Moreno is a licensed real estate agent in Brooklyn, New York with eRealty as of the time of making this video. All information given is meant to be educational and be a starting point in your home buying/selling journey. All topics in my videos are based on my prior experiences, please double-check and confirm/consult with a local licensed professional real estate agent or mortgage lender if it applies to your situation.

Real Estate Marketing Dude
Relationships, Relationships, Relationships With Euan Graham

Real Estate Marketing Dude

Play Episode Listen Later Apr 30, 2022 38:25


A lot of times people say, I'm brand new to this market, How am I going to start, I don't know anyone here and we hear that quite a bit on the show. Our guest today can be a huge inspiration to you all because he was from a different country. In 2008, he came to the States over from Scotland, and he started from scratch, like how I moved to San Diego and I just got my license. Again, I say this on the show, because I'm gonna start recruiting all you guys. When I got to San Diego, I told myself, I'm not gonna sell real estate I was burnt out. Five years later, here I am, I got my license back. I'm not going to get into the sell, sell, sell, sell, but I am going to build other people's brands and create content for him and all the above. And no matter what you do with this business, you'll never escape it once you get into it. But there's so many different facets of it and I found his story really interesting, because a lot of people will say, Oh, real estate is not for me, but this guy comes over from another country goes into Denver, and he starts just selling houses, and he does very well. Listen up because I think you guys are gonna get a lot out of this episode!Three Things You'll Learn in This EpisodeHow to get started in a new marketNetworking in an area where you know no onePros and cons of working in real estateResourcesLearn more about Euan GrahamReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase. Hi, I'm Mike Cuevas a real estate marketing dude. And this podcast is all about building a strong personal brand people have come to know, like trust most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get started What's up ladies and gentlemen, welcome another episode of the real estate marketing dude, podcast. Look at this, folks, two weeks in a row. If you listened last week, I had an episode where I called myself out for not being consistent on our podcast schedule. And it's something I teach and preach. And then even you know, me, the guy who talks about this all time, I've messed up, and I said, I was gonna let it happen again. And I promise you that. So I started loading up on shows. And what I'm doing is I'm, I reached out to a bunch of groups out men, I'm like, Hey, let me get some shows. Because I know a lot of the groups I'm in we have a lot of friends in the business and industry. We're just killers all over the country. We have a lot of masterminds with you on the back end. And what we wanted to do today was bring one of them on, and he's got a really cool story. You know, a lot of times people say, I'm brand new to this market, I How am I going to start I don't know anyone here and we hear that quite a bit on the show, we get people that write in and whatnot. But this guy was from a different country. Okay, in 2008, he came to the States over from Scotland, and he started from scratch, like, you know, what, I moved to San Diego. And I just got my license. Again, I say this on the show, because I'm gonna start recruiting all you guys. But when I got to San Diego, I told myself, I'm not gonna sell real estate I was burnt out. But five years later, here I am, I got my license back. And I'm not going to get into the sell, sell, sell, sell. But I am going to build other people's brands and create content for him and all the above. And no matter what you do with this business, you'll never escape it once you get into it. But there's so many different facets of it. And I found his story really interesting, because a lot of people will say, Oh, real estate is not for me, but this guy comes over from another country goes into Denver, and he starts just selling houses, and he does very well. And I think you guys are gonna get a lot out of it. So I've known you for a while. How long? I don't know how many years, maybe five, seven years. And I haven't seen in a couple years since COVID and whatnot. So but we're gonna do a show back then I believe. So why don't you go ahead and introduce yourself to the audience here. And let's get right on into this because I think all you guys are going to get a lot of good learning lessons of how to start from scratch. So if you're struggling today, if you're just stuck, you don't know something's not working. You don't like interest rates your buyers are stopping to buy because their payment is no longer affordable, or vice versa. Look, we all start from somewhere so this is going to kick you in the ass. So without further ado, let's go ahead and introduce Denver realtor Yun Graham. What's up, dude?Hey, Mike. Great to be on the show. COVID has been kind to you, you're looking great. I've had as I said, I've not been I've not seen you for a couple of years. So I've seen a lot of weight, like nine parent, I've not seen you in person. But obviously I've seen we've seen each other online and stuff like that. So yeah, it's great to be on with you. I think, you know, I love to do this. I love to kind of maybe share my perspective on things my perspective not just on, on real estate, but the opportunities that we have and that we're blessed with in this country. So I think that's really part of my story as well. You know, swam over from Scotland 1415 years ago. But I got here, you know, these American girls, Mike, they're too hard to turn down. Solook, especially with an accent like that. A bunch of a bunch of women coming into the callUnion on YouTube video. Well, it's interesting if you if you put close captioning on when I've been talking, it can come up with some pretty interesting phrases and words that follow me but yes, so moved over in 2008. My wife's a Colorado girl. So we met actually Mike in San Diego, in 2004. She was out there. So we met in 2004. married a year later spent a couple years in Scotland where I think we're laughing that we were both drug dealers before we got into real estate. I was selling pharmaceuticals. Yeah, then moved over. You know, with my eyes wide open, but no, in the worst financial market we've seen in you know, 80 years. So to be honest with you, Mike, I didn't know what I was going to do. I wanted to get back into maybe selling pharmaceuticals or doing medical devices but you know, in 2008 Nobody was hiring everybody was laying off. I So I came over with this, you know, charming accent and I would just get a job. And it just, it didn't work like that. So I really had to pivot. Idid you have any real estate experience when you came over?Absolutely. Well, actually, we own a little property back home in Scotland. So we have a little slot that we still have to this day in my hometown. That was the only kind of experience I had. I know I liked it and kind of like, always had a mystique around it in terms of what it might, you know, what am I end up with? But no, absolutely no real estate? So first job in the United States, I was selling Yellow Pages. And, you know, I think what that told me, Mike, is, Yellow Pages is definitely not the future. I was trying to tell small business owners it was, but I'll tell you, I went and knocked doors for close to 18 months, small businesses in Denver and down in Colorado Springs, we went down there. And I and I looked back on that time in my life. And I was like, Why the hell was I doing it, because I don't know about you, Mike. But I'm a firm believer that every everything happens for a reason you're doing something, there's a reason behind it, you might not know then, but you'll figure that out. And when it taught me really was how to build relationships make. Because what I would do is obviously, build the relationship with a small business owner and do a great job for them and provide value. And then they would, in turn, tell their friend who was another small business owner about me. And I can always remember him, he would come in on a Friday afternoon, and we'd have to cold call for four hours straight. And we would pick up pick up a yellow book and call through that. And I didn't do it, I refuse to do it. Because that was not my intent. I was not a cold call guy. I was at relationship guy and I was always the one that had the most appointments for the next week was closing the most amount of business. So there was something behind that. And I was part of a little networking group that had a realtor in it. And he said, You know, I think I think you're looking for something else. I think you use theirs and I said look, I am in America I'm in the Wonder opportunity. I'm all ears What are you thinking? He says you should get in real estate. I think you'd be really good at it. You know, you can you can you know the world is your oyster in real estate you really are you know, it's like that you're your own boss you've got the fleet you know, it's a throughout the comments of it's flexible. It's like yeah, right. Bullshit flexibility in your first two three years there's absolutely none. So yeah, I in 2010 I got quit quit the Yellow Pages studied at home for two weeks, because I didn't have the money back then to attend the courses. I just bought the books the the real estate books, studied when in a class for a week summer test, got a license and just came out the gate and realize that Mike, I think, you know, back then I had no experience I didn't know what I was doing. I didn't have a mentor but I knew that I would learn over time but I could outwork anybody like work was not the work ethic part was not polling to me so if you if you had the experience but didn't have the work ethic, I was going to beat you on work you know work ethic so the first full full year in real estate and you know what it was like back then and Mike it was a it's insane to think about that. Basically nine out of every 10 homes are in short sale or foreclosure back then that's what I cut my teeth on. I was selling condos in Denver for 12 $15,000 I was making a couple 100 bucks which was a fortune to me on a commission check and you know that first year I just hit No no days off at nine years weakness so 36 homes in my first year and I did not have any kind of idea of if that was good or not because I thought it's really good. If I sell 36 homes in my first year with no experience the average realtor must be selling 100 homes he know that make that's what that's what I believe because I didn't I knowwhat do you notice searches today? Or even that it's never changed? Like five to 766 homes the average size a realtor sells and I don't know how you can make a living off of that.No and I you know I I sold her a lot of homes, but they were you know, I think my average price back when I started was around $80,000. So that's kind of what my average price point was. But I just didn't look back because I loved that I loved I didn't Thanks, I was working Mike, I think I found something. And we talked about this just offline about, the longer you get into the business, it becomes, you know, it does become a little bit of a grind but the that that first year, I was just on cloud nine, because I, you know, I was making some money, not a lot of money, but I was providing for my family and I found something that I found. It just came naturally to me. And the other big thing that I really want to reiterate to the listeners, if you're if you're, if you're born in this country, if you're born in the United States of America, you won the lotto, you won you got you got the Charlie Wonka golden ticket, because there is nowhere else. And I've said this so many times, there is nowhere else in the world with so much opportunity. And gobble I came, I came here as an immigrant with with nothing like, I didn't have some trust funds with my parents like I, you know, my parents went through a divorce right before we moved over. And I just wake up every day. No, you know, sometimes a little bit different Susie, artistically, but I know that I'm a kid in a candy store, we can up in America, because the opportunity is off the charts. And I'm living proof of that I did, I had no connection to anybody in Denver. Anybody in the metro area, my wife is from a small small town in Colorado, 100, people she didn't know grew up in the city. So I had to create these relationships and create the business on my own. And I'm living proof that it may sound corny, but the American dream is, is alive. And well. And I'm telling you that right now, if we just focus on what is good out there, good things happen. And I just like I grew up in Scotland, it's not like some third world country, you know that I have a lot of friends that have come from, to the United States. But the opportunity is nowhere near anything like we have here. So it was just like, it was fascinating to me that I really put the work in, I learned, you know how to do things my own way, because nobody was nobody, I had nobody to show me I just had to figure it out. But that was a good thing for me. Because I figured out my you know, my flow for things my that the way I handled things. And you know, I, I sold the most homes ever in a first year in Denver and just continue to build my business from there.Let me unpack a couple of things that you said. First off, thank you for recognizing that I don't know what the hell's wrong with so many people today where they talk shit about our country, but our country is the biggest opportunity that exists and it's, it's a breath of fresh air to hear someone appreciate that. So thank you for that. Thank you for all those who have served and everybody else who fights for it every single day. But listen, you have the exact same story as me as myself. So this has some similarities here. I didn't come from Scotland, but I did come from Carbondale at Carbondale, Illinois, which is probably the armpit of America when it comes to colleges. And I remember one day, I was doing a kickstand, and I was 22 years old getting blacked out. And then the next day, a week later, literally, I was walking down Michigan Avenue and my first suit being like what the fuck happens now. And I was 22 years old at that time, and I started at a company called I think was called it was called home touch. And home touch was a buyer agency only. And if you guys are familiar with Chicago, you see it on the news water tower mall used to have a kiosk in the very bottom level of the mall, which is a tourist trap or tourists Central. And in the kiosk, we'd have a bunch of just different listings and properties there. And we would just stand at this kiosk and just strike conversations with people because people would stop by to say, Hey, what's going on with that listing? Right? Or, Oh, how much does this thing go and then you just start a relationship. The very first house I sold was to an attorney, I had nothing in common with like this guy and me. I still stay friends with him over the years. Like we're totally opposite of the political side, everything. We have nothing in common. He's an attorney. I'm a dude. But I always knew the power of relationships. Because when I was in college, I was like, the guy who had all the parties. I had all the bar bartenders, I always knew how to grease people to get in. Like I had everything I was a shit in college. Then I got to the real world. And I'm like, damn, I started over I was nobody. The one thing and the one thing I learned is that everyone always has a common ground and in business, regardless of what the common ground is. If you can find it early enough in a conversation, you'll earn the chance to have that conversation. All right. So this dude was in a fraternity and I just got out of one. And that's how I struck it. We bonded talking about frat hazing, frat parties and all this crap. We ended up selling them a $420,000 condo for sale ever did came right off the floor of water tower Mall. That gentleman I continued to nurture the relationship with him over time. I've even till the time I left Chicago, 17 years, 18 years I, I known this guy, I can't tell you how many people he's referred me to over the course of time, he's had me over his house for dinner, all of that different stuff. This entire business is based upon relationships. You guys, it's not based upon lead generation, it's not based upon that auto responder you don't know how to use. It's not based upon the AI technology that the Guru's are pumping down your damn throats right now that you're never going to learn how to use what it is going to be based off. And what it always has, since the dinosaurs ruled the earth has been based upon relationships because 88% of people close with the first agent they meet with. And if you do all the stats, you can look up and see where people choose their agents from it's not any of the places I mentioned, it comes from people they know you personally met, or that you're referred to. And that's where over 80% of business comes from each and every year. So to have a guy, how old were you when you came over? I mean, I still have a 29 year old dude, come over to the States probably has stars in his eyes, like holy shit, this is great. Probably like a kid in a candy store, like you said, and you just didn't know anybody, but you focus on building relationships. And, folks, that's what the business is. If you're sitting here, trying to think that you're in sales.You're in the wrong damn business. In my opinion, I don't believe we saw I don't think you can sell anyone anything without first having a relationship. So there's a good book that demonstrates this. It was called cocktails, the name of it. It was written by the dude that sold the most used cars in one year. And his name is Joe Girardi I believe. I'm blanking on what the name of the book is. But the whole point of this book was this guy sold like 346 Used Cars in one year. Okay, this wasn't a condo building where you get 346 listings with one developer, he did individual likes. So it's not like he had a bulk sale, he did individual car sales one at a time. And how he did it was he came up with this thing he calls Gerards rule of 250. And he goes, every single person knows 250 people that they can refer you to every person does. So he goes when I this is like the Centerstone of our philosophy today's like he goes when I sold someone a car, I didn't spike the football. When I sold him the car, I spiked the football and I got the third or fourth or fifth referral from them. Because once he sold him the car, he instantly went, Hey, if this person can refer me their friends and family, this is a used car salesman guys. Okay, we're talking about selling real estate, the biggest investment ever, this guy's did the same concept with used cars is this guy, if I could get into there, people have 250 people, and then they could introduce me into the 250 people. And that's how this guy rolled. He just kept leveraging relationship off relationship, a relationship or relationship? Because you know, how many times do you get turned down on a referral when you go to a listing presentation? Never? How many times you get turned down? When you go up? And you get a cold call, like, Hey, I've got this lead, I'm gonna go over, you know who the hell it is? They're interviewing five other agents? Well,it's just it's a different, it's a completely different proposition. And it's, it's a different process as well. And it never seems to go as well. Even if you get the listing, which you don't always get obviously. And because it's a it's a completely different set of parameters you're working to. So yeah, like, you hit the nail on the head, it's, I'll tell you what, there was a period for about six months in 2017, where a lender and I partner together because a lender was like, we need to, you know, we need we could grow exponentially, and we wanted to do, we bought leads, and had a team like five agents that were cold calling and calling and calling and calling and calling and I was miserable. It was just so authentic to who I am as a person. And like, we got rid of it. And I sat the team down, I said, I'm gonna teach you how to grow, how to grow by repeat and referral business. And I'm going to teach you how to develop relationships. And we teach how to be authentic, and we teach you ultimately how to provide more value than you're ever going to receive and payment. And, you know, talking about books, the, the the one, the one book that changed my life was the Go Giver. And that just taught me all about it's, it's about providing value before you ever ask for anything in return ever. And you've got to provide way more value than you expect in return. So that was just something that, you know, I was given in my first year in real estate as well. And it just hit home to me it just was like, it was just like, it was like I was looking in the mirror reading this book. And I think the big thi