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Contenuto fornito da Sean T Shallis. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Sean T Shallis o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
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Hilde Mosse comes from one of the wealthiest families in Berlin and stands to inherit an enormous fortune. But she longs for something more meaningful than the luxurious lifestyle her family provides. So Hilde decides to pursue her dream of becoming a doctor. As the Nazis take power in Germany and the Mosse family is forced to flee, Dr. Hilde Mosse lands in New York having nearly lost everything.. She finds her calling treating the mental health of Black youth – and the symptoms of a racist system. In addition to photographs, school records, and correspondence spanning Hilde Mosse’s entire lifetime, the Mosse Family Collection in the LBI Archives includes the diaries she kept between 1928 and 1934, from the ages of 16-22. Hilde’s papers are just part of the extensive holdings related to the Mosse Family at LBI. Learn more at lbi.org/hilde . Exile is a production of the Leo Baeck Institute, New York and Antica Productions. It’s narrated by Mandy Patinkin. This episode was written by Lauren Armstrong-Carter. Our executive producers are Laura Regehr, Rami Tzabar, Stuart Coxe, and Bernie Blum. Our producer is Emily Morantz. Research and translation by Isabella Kempf. Voice acting by Hannah Gelman. Sound design and audio mix by Philip Wilson. Theme music by Oliver Wickham. Please consider supporting the work of the Leo Baeck Institute with a tax-deductible contribution by visiting lbi.org/exile2025 . The entire team at Antica Productions and Leo Baeck Institute is deeply saddened by the passing of our Executive Producer, Bernie Blum. We would not have been able to tell these stories without Bernie's generous support. Bernie was also President Emeritus of LBI and Exile would not exist without his energetic and visionary leadership. We extend our condolences to his entire family. May his memory be a blessing. This episode of Exile is made possible in part by a grant from the Conference on Jewish Material Claims Against Germany, which is supported by the German Federal Ministry of Finance and the Foundation Remembrance, Responsibility and Future.…
Billion Dollar Blind Spots
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Contenuto fornito da Sean T Shallis. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Sean T Shallis o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Join Best Selling Author, Sales and Marketing Genius, Sean T Shallis as he helps Companies and Individuals "Discover and Capitalize" their Billion Dollar Blind Spots, In both Life and Business. As a Patented Inventor Shallis is no stranger to the discovery and Invention process; he has spent a life time creating, developing and testing unique, innovative and proprietary strategies, systems and platforms. "We help companies and individuals recognize the physical and psychological blind spots that literally "Block them from Seeing a Path Forward" to quantum growth. Once we uncover these weaknesses, we introduce proven proprietary strategies and systems that are designed to rewire and reprogram from the Inside Out... Shallis is quoted as saying "You can't plant Roses in a Weed garden" You need to Re-calibrate the Mindset, Attitude, Approach and Expectations of the Companies employees and spokes people. These changes don't come easy or overnight, they typically take between 90 and 180 days before you'll see notice-able "Habitual and Behavioral Change". Once the changes become habitual, they'll become Viral and even Infectious among the customers and clients they serve....This Is the Secret Sauce that takes companies from Millions to Billions in Revenue! Shallis has over 30 Years of experience helping Individuals and businesses alike Market, Negotiate and Sell Billions of Dollars of products and services. His recently Published Book, The 10x House Selling Secrets, quickly climbed the Amazon’s Best Seller List to #5 In Less than 12 Hours. Learn more about his "10x Personal Success Formula”, aka 10xPsf (™) Framework, Core Passion and Purpose, aka Cp2 (tm), Really Intelligent Information, aka Ri2 (tm) Shallis has begun Sharing his proprietary “10x Personal Success Formula Framework” in Workshops and Keynote Speeches. At Ri2 Consulting/Lead Solutions we’ve combined the proven tactics, systems, platforms and speed hacks, AKA Tactical Intelligence, with state of the art Artificial Intelligence, to create Really Intelligent Information. Aka “Ri2”...Ri2 is like the DNA of the Business…I azgx/ Shallis has been featured as a Real Estate Strategist and Subject Matter Expert in The Wall Street Journal, The New York Times, Bloomberg News TV, Bloomberg Radio, Bloomberg International News Service, CNBC and various print publications.
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13 episodi
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Manage series 3057934
Contenuto fornito da Sean T Shallis. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Sean T Shallis o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Join Best Selling Author, Sales and Marketing Genius, Sean T Shallis as he helps Companies and Individuals "Discover and Capitalize" their Billion Dollar Blind Spots, In both Life and Business. As a Patented Inventor Shallis is no stranger to the discovery and Invention process; he has spent a life time creating, developing and testing unique, innovative and proprietary strategies, systems and platforms. "We help companies and individuals recognize the physical and psychological blind spots that literally "Block them from Seeing a Path Forward" to quantum growth. Once we uncover these weaknesses, we introduce proven proprietary strategies and systems that are designed to rewire and reprogram from the Inside Out... Shallis is quoted as saying "You can't plant Roses in a Weed garden" You need to Re-calibrate the Mindset, Attitude, Approach and Expectations of the Companies employees and spokes people. These changes don't come easy or overnight, they typically take between 90 and 180 days before you'll see notice-able "Habitual and Behavioral Change". Once the changes become habitual, they'll become Viral and even Infectious among the customers and clients they serve....This Is the Secret Sauce that takes companies from Millions to Billions in Revenue! Shallis has over 30 Years of experience helping Individuals and businesses alike Market, Negotiate and Sell Billions of Dollars of products and services. His recently Published Book, The 10x House Selling Secrets, quickly climbed the Amazon’s Best Seller List to #5 In Less than 12 Hours. Learn more about his "10x Personal Success Formula”, aka 10xPsf (™) Framework, Core Passion and Purpose, aka Cp2 (tm), Really Intelligent Information, aka Ri2 (tm) Shallis has begun Sharing his proprietary “10x Personal Success Formula Framework” in Workshops and Keynote Speeches. At Ri2 Consulting/Lead Solutions we’ve combined the proven tactics, systems, platforms and speed hacks, AKA Tactical Intelligence, with state of the art Artificial Intelligence, to create Really Intelligent Information. Aka “Ri2”...Ri2 is like the DNA of the Business…I azgx/ Shallis has been featured as a Real Estate Strategist and Subject Matter Expert in The Wall Street Journal, The New York Times, Bloomberg News TV, Bloomberg Radio, Bloomberg International News Service, CNBC and various print publications.
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13 episodi
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×Listen in as Sean Shallis Helps Realtors Thrive vs Simply Survive a Changing Real Estate Market ...Questions about Mortgages, Real Estate and More? Book a Free Call with Sean Shallis ...@ www.seanshallis.com
Listen in as we chat with Jay Berube, as he shares the secrets of Selling One to Many, Selling to the masses with Automation and leverage while he spends time with his family traveling for months at time! Jay is a Serial entrepreneur and multiple business owner in the fields of Real Estate, Property Management, Digital Marketing, and Sales Coaching. He has personally sold over 1400 homes, managed over 3,000 properties, and has coached thousands of real estate agents and property managers.Jay is on a mission to train real estate agents & property managers in the specific area of sales, and help position you as the “trusted advisor” to earn more business. Jay’s “Trusted Advisor” approach to Sales and Marketing has allowed him the opportunity to implement creative, rejection free, strategies to sales & marketing and to provide a new approach to converting sales. Learn more about Jay at https://www.linkedin.com/in/jayberubere/ Please don't forget to subscribe for the latest episodes! Get a Free Coaching Call with Sean Shallis...Click Here…
Listen in as Serial Entrepreneur, Best Selling Author & Mortgage Industry Juggernaut Carl White, explains the importance of finding your tribe. Carl, shares some many golden nuggets that can be applied in virtual any business and or life in general. As one of the Mortgage Industry's leading experts, his wisdom comes from years of practical experience, trail and error. Listen and learn as Carl shares simple analogies to illustrates his approach to life and business. Carl White, is truly the definition of the American Success Story in life and business...As he says in the first 5 mins...."I'm simply grooving through life brother" Give a listen ...!!! Get a Free Coaching Call with Sean Shallis...Click Here…
Join me as I interview, best selling author and Phones Scripts expert, Wally Bressler. Wally has decades of Experienced in Business Advisory services with a demonstrated history of working in the real estate. Skilled in Coaching, Sales, Sales Management, and Script and Copywriting. Listen as your Host Sean Shallis discovery the real psychology, The Why; behind call reluctance and more importantly overcome it. Whether your in the business of selling real estate or buggy whips, if you want to learn how to communicate your message, aka learn how to the deliver a message that will lead people to making a specific decision at a specific time and place in the conversation. You need to hear this episode.... Grab a copy of Wally's New Book...Click Here Trajic Hero .. on Amazon Get a Free 15 minute Call with Wally Bressler.. Click Here! Get a Free Coaching Call with Sean Shallis...Click Here…
Listen in as host Sean T Shallis interviews....Best Selling Author, Marketing and Sales Funnel Expert Michael Reese, shares the Secrets to building a Leveraged and Automated Business. Learn how anyone can implement and deploy tactics, systems and solutions designed to market and Sell while you Sleep! Get All 25 Interviews with the Real Estate Industry's Best of the Best... Absolutely FREE !! www.10xrealestatewarriorsnation.com…
Listen in as Legendary Mortgage Expert, Frank Garay shares the secret sauce to loan officers going from "Zero's to Hero's" within Months of Joining the Mortgage industry! Who is Frank Garay? Top mortgage industry leader and host of The Breakfast Club with Mortgage Marketing Animals, brings you the latest and greatest gizmos, gadgets and more that top loan officers are using. Learn what has been successful for those that are at the top of their game and how they've implemented them - so you can do the same as a loan officer. Get the Secret Sauce of going from Mortgage Zero to Mortgage Hero in months verse year with the strategies, systems and platforms Frank and I discuss in this podcast! Click Here to Learn More about the Mortgage Marketing Animals Click here to Join the Loan Officer Breakfast Club!…
Everybody, Sean Shallis, billion dollar blind spots where we actually help you capitalize and discover on the billion dollar blind spots that lie dormant within your business and your lifestyle. https://linktr.ee/SeanTShallis. Last night I was actually at a college fair with my daughter and my wife were walking around. And oddly enough, in the afternoon I actually received a an email chat from one of my certified financial planners asking about the difference between their kid somebody's kid going to college to rent a place or living in the dorm or living in a secure in a sorority and or if the parent purchased a home for the daughter to rent and or live in with her college roommate friends. So here's the skinny on that. for years, you know, I kind of explained this to the to the financial planner. You know, in the very early in my real estate career on the real estate side, I worked in a town called Hoboken. In that town, had a lot of young professionals, I would come to that town that couldn't afford to live in New York City, but they could live in Hoboken and they would either rent a place in Ho Book and write outta college, or they would rent the place to put their kids in college in, in Stevens Institute, which was right in town. And I would always sit them down and say, Hey, you know, tell me a little bit about what's going on. Tell me a little bit about how long your timeline is gonna be for the person that's gonna live in that place. is it your daughter or your son or somebody along that lines, it's a graduate student. how long, it'll, how long are you gonna rent? If it's anything more than two years, you may actually fare better by purchasing a home. And they would say, Well, I don't really understand how that looks and this, you know, we don't really have a lot of liquid cash to make that investment. And I would say, Well, first of all, you only need 10, 20% down, number one. Number two, you can actually use the money from a retirement account in lower 401k is, and use real estate as an asset because you're gonna rent it to your kid and it's gonna be an investment property. And they're like, Well, can you tell me more about that, Sean? Absolutely. So, you know, first and foremost on that, you know, on that conversation, you know you're, you're far better off if you can invest in real estate as opposed to investing in somebody else's real estate investment and sending somebody else's kid to college. The other thing is, is the tax benefits alone far outweigh sending, sending somebody a check for rent to pay for their property. So let's just kind of look at this for a little bit. Like number one, as I said, you can actually, most people don't know this, You can actually take and take money from a 401K or a retirement account and use it to purchase a piece of real estate as a retirement account asset. So instead of purchasing stock in your 401k, you would actually purchase a piece of real estate and then, and understand that property has to be managed by qualified property manager and asset manager, which manages properties within an ira. the other thing is all the, all the money that comes back in rent has to go back into that investment and it gets distributed as, as according to your ira. https://linktr.ee/SeanTShallis. But it's a great investment strategy. The other thing is, is that, that when you have your child, usually they're gonna live with roommates. So let's say for argument's sake, you have a two bedroom apartment, which is what we use to sell people is a, a one or a two bedroom condo. And we would actually take the dining room because most kids at that age are not gonna live, not gonna have a formal, you know, sit down dinner and we would put a temporary wall and to make it a three bedroom. So now what you have is two or three children, or two or three, you know, young adults living in a, in a, in a condo, each paying $1,500 a month collecting rent. So you have two kids paying $1,500 a month and you have your kid living for free. In most cases, the mortgage would maybe be 2500, 20 $800 a month, you'd actually be making money, cash on cash. But the best part is there's a couple other strategies that most people don't even think about because it's an investment property. You're gonna write off anywhere between 20 to 25% of all the expenses and all the costs that it cost to carry that property. The next thing that you're gonna do is any, any kind of capitalization costs or anything that you put into it becomes a tax write off. The other neat thing is, let's say for arguments sake, you take your child and you make them the property manager and they're collecting the rent and they're managing the property, you can actually pay your student an actual a salary for being the property manager and set aside a portion of the collected rent toward the property management of that property. So in, in those cases, in most cases with most of the people that we help set this strategy up, they've far exceeded what, what would've caused them to rent a place in a dorm or rent a place someplace else, and then turn that into an investment strategy versus an expense. The other thing that's kind of neat is we've had customers that actually look at that asset and all of a sudden, four years later, that property went from being worth 250,000 or worth $500,000. And it doesn't happen all the time, but when it does happen, it's a great windfall. And I've had customers now come back and after their kids are outta college, you know, they rotated their three kids through the college cuz they all went the same school cuz it was their armada. But after it's all over, they've actually come to me and said, Hey Sean, can we buy another one? Because we have some friends that actually are gonna send their kids to that school and we wanna actually turn this into an income strategy. And what they were doing was purchasing properties with, you know, minimal low down payments and then renting them to students. https://linktr.ee/SeanTShallis. Some of the financial planners would say, Oh my God, what about the risk of if that property goes down a value or if something happens? Usually, not always, but usually when you're purchasing a property within a college community, there's usually a built in rental community that's gonna rent that property from you. And it usually helps to stabilize their rents and or the property's value of the home because as long as that property can rent for a certain amount of value, somebody's gonna buy it as a, as a, an investment. At any point in the game, if somebody wants to buy it to live in it permanently as their, as their primary residents, it's gonna be, it's gonna also be just dictated by whatever the market is willing to bear. But ideally, properties that have a certain amount of rental income have a certain value to them. And I, you know, really what it comes down to is, here's really, really, really simple, simple math. If I send my kid to, if I send my kid to college and I pay $1,500 for a dorm, and I do that over, you know, over a 12 month period, that's 1800 $18,000, I times that by four, that's $72,000 that I'm investing in housing for my child. Now they have to live somewhere. So either I gotta spend that on rent or I gotta spend that on investing in a piece of property. What's interesting though is if you're really good in math, you don't even have to be good. Let's take 72,000 times up by zero. How much is that? Zero. That's right. That is, you get a zero tax benefit for sending your kid to college and living in a dorm and paying rent toward either to the college or somebody else's college retirement fund because ideally, if you're renting from that property, you're getting zero tax benefit. https://linktr.ee/SeanTShallis. But let's just say for poops and giggles, you had 72,000 and you got a modest 20% tax benefit for owning the property as a rental income and actually writing down the cost of the rent and the interest on the loan. and the mortgage payments you're gonna get on a 20% return, that's a $14,400,000 return on your investment. Again, 14,400 over the 72,000. So 14,400, that's actually a 20% return on your investment. What is now a good time to consider purchasing a home for your child to live in and rent to their roommates at college and help them to actually create one, not only, not only does it give them a place to live, it gives you an investment, but it also helps your child learn about financial literacy and how to operate a business, if you will. And listen, it's not for everybody. It's not may, it may not be for the students that are not wired, that maybe you are more more kinesthetic and maybe they're more at the art and stuff like that. They may not understand the, the model there. But if you have a child that you're sending a school for business and business management, what better way to teach them is to learn from doing and doing a, you know, learning from, you know, from actually operating a business which is that property. So Sean c your friend, your neighbor, your real estate expert, mortgage, I specialize in doing mortgage at US Bank. We don't just write loans. We bring 30 years of experience, knowledge, and education to you and your family and your friends. And then we bring great products and service on the mortgage side. If you're thinking about doing some, we're actually licensed of all 50 states. I can actually help you and not only can I help you, but I can also be your coach. I think, you know, one of my, one of my coaches has a saying and he says, you know, everybody in this world needs a really good coach. https://linktr.ee/SeanTShallis. I mean, God, Tiger Woods doesn't have one. He has three coaches and he doesn't even play golf anymore for professionally, for the, I mean he plays, he plays in tournaments. But the reality is, if you look at the best of the best in the world that are the number, they're like the one two percentile of whatever they do. In most cases, they have a great coach. If you wanna find out more about investing in real estate as opposed to renting real estate when your kids go to college and, and by the way, let me touch on something. There's some people that say, Hey, I'm gonna buy a property in Pennsylvania so that my kid could get instate tuition. You need to go to the college and you need to read the guidelines of instate and what it actually takes. In many cases, you have to own that property for two or three years in advance and they have to be off your off your W2 as a dependent. So you have to be really careful about that actual strategy. But again, if you wanna find out more, get back to me. The easiest way to get me is you can go to https://linktr.ee/SeanTShallis. You can also get a copy of our free book about learning how to sell your house on your own on Amazon. And we're a published author. I look forward to seeing you on the other side. Sean House, your friend, your neighbor, your real estate expert, US Bank where, where we don't just write you loans, we actually help you to build your financial future. Let's talk more. I'll see you on the other side. Sean Shallis…
Are you thinking of putting down roots or moving to a completely different and or new area? Listen to Sean Shallis, Mortgage Expert as he coaches Joey through the moving and home selection process. Get the Secrets to making great buying decisions.... Need Help Buying, Selling and or Investing in Real Estate? Grab a Free Discovery Call with Sean Shallis...Learn More about Sean Shallis.... https://linktr.ee/seantshallis…
Maybe You Decided it time to Change! its Time to Sell the House, Down Size and and Move On, or You Did You decide you're playing Small and You Want to Upgrade to a New Home....This Morning You Hit the Ground Running only to Learn that When and if you Do Sell.. You're Gonna pay a Kings Ransom to the Realtors to Sell!.....You think maybe I'll Do it myself...Except your not Sure Where to Start? DON'T QUIT ON YOUR DREAMS...We can Help...listen to Sean Shallis as he Introduce the Worlds One and One Consumer Direct Real Estate Marketing and Coaching Company!…
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1 2021-2022 Real Estate Re-Cap and Forecast Uncovers "Billion Dollar Opportunity" for Savy Investor! 30:49
2021-2022 Real Estate Re-Cap and Forecast Uncovers Another Billion Dollar Opportunity for Savy Investor! Just got done to an interview with another friend of mine in regard to kind of like a forecast of what's the outlook for 2022. What do you think Sean, what's going on? What do you think with between COVID and between interest rate hikes between shadow inventory and all that stuff? You know, what do you thinks gonna happen in 2022? Where do you think that the opportunities are gonna be and where can we find a billion dollar opportunity to make some money in the market? Welcome to billion dollar blind spots, where we help businesses and individuals recognize and capitalize on the billion dollar blind spots in life and business. Listen in as bestselling author shanty chais uncovers the not so obvious billion dollar blind spots in various businesses. Industries and markets shall is the co-founder of RI squared consulting, where he specializes in creating proprietary platform, strategies and systems to capitalize on changing markets and services. By combining more than three decades of practical tactical experience with modern day artificial behavioral intelligence, we can discover and deliver the really intelligent information to change their lives and business Who is Sean Shallis? Click here to Learn More! In buddy, Sean shall hosting billion dollar blind spots. Welcome back. It is December 21st, I just had a 2012, just got done to an interview with another friend of mine in regard to kind of like a forecast of what's the outlook for 2022. What do you think Sean, what's going on? What do you think with between COVID and between interest rate hikes between shadow inventory and all that stuff? You, what do you thinks gonna happen in 2022? Where do you think that the opportunities are gonna be and where can we find a billion dollar opportunity to make some money in the market? In some cases we're talking to major hedge funds, major real estate, investment trusts, private portfolio managers. We're talking to the investor that owns one or two of investment properties are talking to guy who has his personal house down the street from me or my house. And some cases that house, maybe 300,000, in other cases, it could be three or 4 million for their personal residents. They own two or three other houses. So, you know, there is a concern. Do you want to know what the market is doing and how to play the market going forward? And the smarter investors they're looking to see if there's an opportunity about to happen or has it already happened? So in order to kind of go forward, we gotta go backwards. First. We gotta kind at what's going on out there and what's been going on. So right now we have another variation of COVID is happening and it's actually, they just shut down some of the shows in New York city, Saturday night live actually shut down. They did the whole, they did the show virtually, which I didn't even realize this week. So that's a sign that this is coming around again. We also have the fed chairman telegraphing that they're gonna be doing anywhere between to three interest rate hikes over the next 12 months. In 2022, we have a bunch of political unrest with the Democrats and Republicans fighting over tax bills and fighting over different plans and everything else, president, Biden's talking about huge interest rate hikes for capital gains. And so what do we see and where is the opportunity gonna be and where, what is the forecast? First of all, once we look backwards and we look at the forecast, then we can actually look for the opportunity in the forecast. So let's back up for a second. I wanna just kind of back you guys up a little bit and do a history repeats itself, obviously, especially in the real estate business and the real estate business. You've heard me say this hundreds of times, the real estate business repeats itself off anywhere eight to 12 years in a row. It goes on a cycle. And right now we're in a pretty much an up cycle. You know, the market is taking off like a rocket again, but it is starting to stabilize. We are starting to see prices come back in line with the market. We're starting to see properties that are expiring on sold, which means that they were overpriced or that just didn't sell. For some reason, we're seeing people negotiate again on home sales, on and on home properties. They go to purchase 'em and they do a home inspection and there's things wrong with it. Instead of buying the house on the blind, as they say, without even seeing it, where we were having people from New York city, actually buying houses without doing a home inspection and closing without even seeing the property, they just wanted to get out of the city that bad. But now we're actually seeing people going back to normal. Who is Sean Shallis? Click here to Learn More! We're going back into a pseudo normal market. If you will, we'll see how long that lasts with the new COVID variant. I'm gonna back you up a little bit. I want to go back to 2008. So in 2008, when we worked in that market and you know, I'm not a genius, but I've been in the real estate business since 1996, I started in 1988. I actually got involved in the real estate business in the construction side. I ended up going in the south side in 1996, after developing a patent on a bicycle walk, my buddy said, you know, everybody in town, you guys, you should sell real estate. He goes, you can make a lot of money. My mom does it and she stinks that and she makes a ton. I did get involved in real estate. Thank God for my friend, Matt, and found my, you know, my calling. So 2008 comes around, you know, the market is flying up into that point. I open a real estate office and literally about a month after I opened a real estate office, bam, you know, the financial debacle of 2008 and nine happens. We have a bit, a bunch of what I I'm gonna call commercial mortgage back securities. We find out that there really was no security in it. The properties that they had told them that there was a value in were really not, they were overvalued over appraised. People were getting loan homes of like for a million dollars on an income of a hundred thousand dollars. You know? And I still remember telling a friend of mine, who's a brilliant guy, has a quantitative analytics degree from MIT. And when we were selling his house 2007, he said, Sean, you sure this is the top of the market. And I said, Paul, I see guys getting loans for 1.5 million with 3% down and no job, no income and no assets. And I mean, honest to God, they're getting a loan for that. And it's Phantom money. It's just ridiculous that this can't keep going ironically enough, a year later, the market imploded. And I, you know, I thought to myself like Christ, you have a quantitative analytic degree from one of the best schools in the country and you work on wall street and you're missing this blind spot. Like, is this that much of a hole in the market? And you know what it really was because unless you're pulse on the market, you really don't see the storm coming across the beach. But if you're a local in New Jersey and you're sitting on the beach and you're watching the rain come in, you could see it coming across the ocean miles away. Who is Sean Shallis? Click here to Learn More! But if you're a tourist, you're really not looking for it. And you really don't know you don't, you didn't notice that, Hey, well, wait a minute. You know that the temperature changed a little bit. They got a little moisture in the air what's going on. And then you look up across the ocean. You could see the storm coming. So in 2008 we saw the storm coming. We just ignored it. Interest rates were, you know, at that time they were at about a 6.2, 6.5% unemployment after 2008 is when up 10%. So from a norm 4%, it went up to 10%. That's almost double what it normally is. Sales in the real estate market went from 7.2 million down to 3.8 million, literally overnight. Literally I can remember opening my office. And literally the first day I got the sheets for the multiple listing service. And it said, okay, you know, Sean, out of 180 companies, your number 92. And I was like, I was so excited to get that report. It was like a nine page report. And they sent to you by fax. So the following month I knew that it came out on the 15th of the month. I run to my office. I get there. It's like six o'clock in the morning. I'm standing at the fax machine, like a little kid waiting for the candy to come through the machine and come page nine, 10. I'm waiting for page 11 and 12, 11 and 12 don't come. I look at the report, thank God. My small company of like seven people went from 90 to number like 40 or something like that of 180 companies. And then I went to go look and it really wasn't 180 companies anymore. It was 140. It really, what happened was I called the multiple listing services, said that a woman over there I go, Hey bill. You know, I didn't get the last two pay ages with the other companies on there. She goes, Sean, those companies went out of business last month. Are, are you paying attention or what's going on out there? I was like, holy crap. So literally it decimated 40 companies out of 180 companies, literally in 30 days, just as a result of the market. You know, the sales went from 7.2 million to 3.8 million. The sale prices also went it almost in half exponentially. And at that point, the government said, oh my God, we need to do something. And they threw out what I'm gonna call a life preserver. They threw out the life jacket was called memorandums. And what the memorandums were designed to do was to actually stop banks and financial institutions from foreclosing on people that were in distress situations, where they hadn't made a mortgage payment for 30, 60, 90 days ex that, that, you know, normally we would know about that because after 60 days the bank would file Liz penance with a court would file a would a judge and or a, you know, a attorney firm. Who is Sean Shallis? Click here to Learn More! They would file a letter called the Liz penance, which actually notifies both the owner of the property, but also notifies the investor of the instrument, which is, you know, the commercial mortgage back security for lack of a better word. Or I AIG at that time who owned a lot of the insurance. And a lot of our primary mortgage insurance was backed by a company called AIG who also almost went bankrupt during 2008 and nine. So these companies actually thought that they had a fairly solid investment. It turns out though that there was more than 800,000 to a million properties. I'm gonna say that again, 800,000 to a million properties and bear in mind at that time, there was only 4 million properties being sold. So that was 25% of the market was either distressed or in what they called the shadow inventory. And the challenge was the financial institutions, unless they really went digging. The general public had no idea that these properties were out there and they were distressed. And ultimately what happened was once we started to go back to norm more like 2009, 2010, they actually, the government pulled back their memorandums and allowed the banks to now go into a foreclosure process. They did warn them and they tried to say, oh, Hey, you should give these people some kind of vehicle out other than just foreclosing on them. So a lot of them were restructured loans. They took the payments, they put 'em on the back of a 30 year loan and turned it into a, a 35 year loan or something like that. But at the end of the day, there was a tremendous amount of properties that were sold that came into the market as distressed properties over the next six months. How much did that affect the market? Who is Sean Shallis? Click here to Learn More! 10%. So the market actually went dipped another additional 10% from 3.8, nine to three point like 5 million of properties in the market. So, you know, and that's just a function of supply and demand. All of a sudden, you go into a market where you had 15 properties for every one buyer to now having 20 to 25 properties for every one buyer. Of course the market is gonna take a no dive during the, you know, bear in mind during the same period of time, the government took interest rates from six and a quarter percent, 2008, they out to about four and a quarter. So they dropped it almost 2% over a two year period, almost three years. And then ultimately when they pulled it back again and the shadow inventory came into the market, they went from four and a quarter down to three and a half and three and a quarter at some of the lowest points. We even saw rates as low as 3% in 2014, 2013. So, you know, now it's fast forward a little bit and let's look at to a seasonal or, or what I'm gonna call a cyclical trend, which is in the real estate business. It's an eight to 10 year cycle. That real real estate typically will cycle from what they call peak to peak or from top to bottom. So you're gonna go from 2008 to 2010 years later, 2018, what's gonna normally happen. You know what? In 2018, the market started us soften up, but interest rates were at for were in a quarter and the federal government came out and said, oh, wait a minute. You know, let's see, let's see what we can do. So all of a sudden they went, they actually started raising interest rates and they started raising 'em pretty rapidly in between 2018 and 2019. They actually raised rates almost three quarters or percent in less than a year. So what happens when you're raise rates that quickly in a market where you're still just hovering, just getting back on your feet. I mean, literally it imploded the market. And on top of that, we were in a time when, remember I said market cycles every 10 years or so, 2008 plus 10 years is 2018, right on the money. We were actually anticipating the market to soften up, which it was doing now, all of a sudden the fed actually pushes on their interest rates and raises them up to quarters of percent. Literally every quarter, they raised at another quarter of a percent over three quarter period, say what you will about Donald Trump. But the one thing he does know is real estate and, and real estate housing and residential housing. He was actually out on the front lawn, screaming and hollering at the federal chairman saying, what are you doing? Who is Sean Shallis? Click here to Learn More! You're gonna implode the market. The reality is they did. They really did implode the market. It went to a standstill. It actually stole the market, but went to a standstill in, in 2019, they woke up and they said, oh, wait a second. You know, we made a mistake, let's start pulling rates back down again, between late 2018 to 2019, they bring the rates back down from about a 5% at the peak of it all, just over 5% back down to about a four and eighth, four and a quarter was about the rate that you ended up seeing. So now all of a sudden, we're starting to go back into a normal market. It's 2000 thousand 19, we're cruising along. And then bam, we have COVID COVID sets in the market, goes upside down. People are really scared to help. They're scared to death. They really don't know what to do. They don't know what's going on in the first quarter of 2021, unemployment went from 3.8 to 15.5%. I'm gonna say that again in literally in a quarter, in less than three months, our actual unemployment rate went from 3.8 to 15.5%. Now, I don't know if you remember what I said, but in 2008 we saw unemployment go down. We saw unemployment raise and it raised quite a bit, but it wasn't really 300% now, you know, to go from 4%, which is normal to about a 10%, that's a pretty big swing. It actually went up a hundred percent, a little more than a hundred percent, probably 125%. This time around, we went up 300%. So what do you think happens when not many people are outta work? Of course they're having problems with not having jobs, not gonna be able to pay their bills. A government steps in, again, throws out the life preserver this time. Who is Sean Shallis? Click here to Learn More! Not only did they throw out the life preserver to stop the federal banks and the financial institutions from actually foreclosing on, on these people. But they also threw the money. They threw a lot of money at them. And really what was happening was people were getting paid more money to stay home than they were when they were working. So they really had no interest in going back to work. And when they did had say, they can finally go back to work. A lot of 'em said, screw, we're not going back to work. And right now, if you go into, like, we went into a restaurants in lake George over the summer, do you know that we were in a restaurant that normally would hold 300 people for dinner on a Thursday night? The funny thing was, there was probably 30 people out front and a line. There was 15 people inside at tables. And I walked up to a woman in ice said, you know, let me ask you a question. Like, can you get us a table for 12? And she said, oh my God, no way. You know, there, there's no way we can do that. And I said, well, what about three tables of four? And she goes, sir, look around here. And I go, yeah, she goes, I'm the hostess. I have two people in my kitchen and I have two people that are servicing this entire restaurant, including me when I'm not at this table, helping you, she goes, there is no way in hell we, it can accommodate your party. I really apologize for that. So that was the theme. There was restaurants that should have been open that, that were closed because they just couldn't find the people to actually Mann the tables to work. There was no labor force out there to work. So all of a sudden we start to see unemployment. We start to see COVID kind of be heat, get their arms around it a little bit. We start to see people going back to work a little bit late in 2020, 2021. Just before that, though, what happens to the real estate market? People are afraid to sell their house, cuz they don't know where they're going. People that are living in a house are afraid to leave their house. People that wanna sell their house, don't wanna sell that don't wanna let somebody in their house to show it. So ultimately what happens and now you have people that are in high density areas like in the tri-state area, in New York, where we have ridiculous amount of people per square foot. And then you go into New York city where people are living on top of each other and you have the scare of probably one of the, the largest pandemics since the black plague, if I'm not mistaken. And so you have people that are trying to get outta New York city and trying to buy a place out in the country, away from people. The challenge is there's no inventory. So remember when I said 2008, there was one buyer that was qualified to buy a home for every 15 homes that were in the market. Reverse that in 2021, 2019,…
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1 Downsizing for Dollars in Real Estate, Why having a Plan is Worth More than Trying to Time the Market! 9:43
Hey there. Welcome back to Billion dollar blind spots, where we help people capitalize and recognize the billion dollar blind spots in their life and their business to this episode is actually, we're recording this in December. I had a great conversation with a guy this morning, believe it or not in the hot tub about downsizing from his house. He's in his sixties, his wife is in her fifties. And you know, they're talking about finally getting kids outs the house and downsizing and what is the plan? And I said, you know, it depends on the timing. It depends on what you're trying to accomplish. And he said, well, what do you mean? I said, you know, go to real estate when you're downsizing, you got to kind look at what's going on. If you're trying to time the market, you got to look at it from a standpoint of what cycle are we in, in the market. Get Your Home Value Here for FREE ! And where's it going when you look at a cash out. So for him, he has a four bedroom, two bath, and he go lives in, you know, in a, in a local town by me, you know, his kids are out and it's just him and his wife. So half of the house, they don't even see it most of the year, unless those kids come over for the holiday. So at this point, he's thinking, okay, if I downsize outs this house, I still wanna stay in the area. Cuz my wife still has a few years of working up here. Maybe we can get something smaller and take our chips off the table. He says, you know, Sean, what's the big deal. If we do it now or we do it five years from now or 10 years from. And I said, well, you know, ironically enough, real estate goes in cycles. So those cycles are usually eight to 10 year cycles. So what are we looking at right now in December the 20th of 2021? So we're in the process of going COVID 19, we're going into another cycle. COVID 19, but we still have the likelihood of, you know, and going into the first January, things are gonna come a little bit. We're gonna go back to some sense of so, so and normalcy, we also heard that the federal chairman mentioned that they're looking to do three interest rates over the next over the next year in 2022, every time interest rates go up, prices go down. So you got to kind of look at those things and say, all right, first of all, what do I need to know? I need to know what my properties were today and today's market. Then what you need to do is lined out what your property is estimated to be worth over the next three years, five years, 10 years, depending on when you're looking at, when you're looking to cash in your chips, why do I say a 10 year cycle? Get Your Home Value Here for FREE ! Reason being is real estate goes in about a 10 year cycle. So if it's going up now and it starts to go down, it's gonna go down for about 10 years before it comes back again to where we are now or lower or higher. So how do we know when that's gonna happen? Well, here's a good, here's a good analogy for you. Two. You guys have heard me say this before 2008, we had 2 million people outta work with financial and real estate debacle. Most of those people went back to work. Most of those people were inspired to purchase homes by the government. But at the end of the day, during that period of time, we had, we had over 800,000 properties that were in some court, some sort of a distressed property situ somebody that I either was late on their mortgage or didn't pay their mortgage at all. And they were in what they called the shadow inventory. The shadow inventory is distressed properties that we're not aware of because there is federal memorandums in courts that limit financial institutions from putting foreclosure actions on people that are late on their payments or in a financial distress situation. So when those got lifted in, in eight, 2008, early 2009, we actually saw that 800,000 properties come into a market, which was already depressed by 40 to 50% in sales and volume and went down an additional eight to 10% as a result of introducing almost 10% of the annual amount of sales into a market in less than 90 days. That's right. When you introduce 800,000 properties into a market that only absorbs 6 million properties a year, you got, it has to go somewhere. It's like trying to take, it's trying to, trying to put 10 pounds of poop in a five pound bag. Get Your Home Value Here for FREE ! It's gotta go somewhere. And the problem is when you do that, it actually deflates the value on and reduces the values of the properties. Okay. On. So in during 2008 and nine, the properties went down, you know, how long does it take for him to come back? Anywhere between seven to 10 years is about. And I usually say eight to 10 years is, is normal. Before we see when go from flat to flat, if you will, or top to top. So if we fast forward now, 2021, like this gentleman was saying to me this morning, he says, you know, my wife's still got 10 years to go. I said, you know, you may be better off just sitting on a house for now, or there's a couple other strategies that you can do. And he said, well, what do you mean by that? Sean? The reality is going into 2022. There's a good chance. We're gonna see properties go down anywhere from five to 10% from where they are now. We're at all time highs based on just as a result of the COVID. We've had 15 buyers for every one house that comes into the market. And now that's starting to stabilize. We're actually starting to see properties, not sell. We're starting to see properties get reduced in price. We're seeing people negotiate home inspections where they didn't negotiate before they would just ignore it. So when we start seeing those signs, that's like seeing the storm coming across the ocean long before it hits the beach, you know, in New Jersey, we always joke about it. You know, the tourist actually stay on the beach long after the storm is already almost on time. Hoping them in the beach. When you see the, when you see there's a storm coming and you see the locals getting up and leaving the beach in herds, we people like all the tourists look around and go wonder what they're doing. Get Your Home Value Here for FREE ! What the, what the locals see is they see the storm coming across the ocean miles away, you know, real estate professionals can see the storm coming. So how do you prepare yourself? You know, I, I just wanna finish that concept of know in 2008, we had 2 million people out of work, 2 million people out of work in 2020 19, 2020, we had 20 million people out of work. And we were also paying people to stay home. We were paying them more to stay home than to go to work. So those people figured, you know what? I'm already distressed on my property. I already can't pay them worries, but I'm gonna stay home anyway because the government is paying me to stay home. So guess what? Early 2022, we're gonna see where the government's gonna pull back. The memorandums that are limiting people, limiting the financial institutions from foreclosing on those people. Get Your Home Value Here for FREE ! Once they start to take lift those memorandums, you're gonna see anywhere between 1.5 and 2 million properties that are gonna be distressed properties. So if you're planning on downsizing and you're planning on moving down, the know let's buy a down the shore or something, here's a strategy you might consider is getting an equity line of credit on your house. Now because it's at an all time high waiting in six months to a year to find the perfect home, to downsize to that one or two bedroom condo or whatever you want in this area and buying it now and renting it for as much as you're carrying it. Cuz if you're gonna, you're able to buy it cash in some cases, or you're able to buy what a substantial down payment. In most cases it's gonna pay for itself just from the rental value of that property. Get Your Home Value Here for FREE ! And while that property, while you're waiting for your property to, to make the decision to move over the next eight to 10 years, your property may go down in value. But over the next eight to 10 years is probably gonna come back up with the normal cycle of the market. And what's interesting is when the market comes back up, you're also gonna be able to collect. You're gonna be able, gonna be able to collect the income from that property. And when you finally do downsize, you have some place to go and you can make a decision very quickly and very easily. And you could become a, you know, what they, what they would call a, you know, highly motivated cell or when somebody makes you a good offer, you can actually just pull the trigger and say, you know what? I have a place to go to. Another thing is you want to know is you want have somebody like myself or somebody on our website. We offer a tracking system where you could actually put your property in there and we'll send you an update of what your property is worth every six months, every year, every three days, every five days, every 10 days, whatever cycle you want to know, or our system will automatically send you a price, an evaluation of your home and an estimated value of the home. Now is that exact? No, it's an algorithm. It's a computer that generates that report, but it's gonna get you close and it's at least gonna keep your finger on the pulse of the market. If you actually align yourself with a couple of people, which is gonna be one, you're gonna align yourself with a good finance planner that can help you to look at all the numbers as a whole. Get Your Home Value Here for FREE ! The next thing you're gonna do is you're gonna look at finding, you know, your, your tax accountant, who may be the one in the same may not be. The other thing you're gonna look at for is you're gonna be looking for a real estate broker that, or, or find or real estate strategist like myself. That's gonna be able to give you the information to keep your finger on the market and your pulse of the market. So you'll though, if the market is gonna take a severe downturn, you may wanna sell before you may wanna cash in your chips. At the end of the day, timing, the market is probably dangerous, but the reality is you can prepare yourself and get a staff of people to help you. It takes a village, right? You've heard that. So in, in, when you're thinking about downsizing, who's the first person you talk to your financial planner, the financial planner is gonna say to you, Hey, let's look and see what your, your portfolio is worth in your portfolios, your house. And they're gonna say, well, you know, let's go find out what your house is worth. They may even ask you what your car is worth. They may ask you what your jewelry is worth. They may ask you what, you know, if you have a, if you have a classic car collection, they may say to, Hey, what is the collection worth in today's market? And do we think it's gonna go up or do we think it's gonna go down? Are you gonna take those at a great with you? Are you gonna give 'em to your kids? Or are you gonna put 'em in some kind of a state you may also want to talk to, if you have income of over five, 10 million, 20 million in your family estate, between your stocks, your house and everything you may want to consider con talking to and estate planner, who can actually figure out if you should have a living trust or some kind of you know, a survivorship of what happens to the money when you pass. Get Your Home Value Here for FREE ! I know it's a more big kind of conversation to talk about. What's gonna happen in the inevitable, the inevitable or death and taxes. You're gonna have to pay taxes and you're most likely gonna die. So in the event that that does happen, what does it look like for your you and your family and your kids? So again, let's do a little recap. If you're thinking of selling your house and downsizing. If you're looking to do it in the next one to three years, one to five years, you probably wanna do it now because you're probably gonna get more for your house now than you will in, let's say in 2000 and 2031, if you're thinking of doing anywhere between eight to 12 years from now, you might wanna wait. You may wanna wait out the market, be you're gonna have to live somewhere for that period of time. You're already Comfortable. It'll give you time to actually get your house ready for sale. You'll also know when the market is coming. You'll have a good heads up on when to do it. It'll also give you time to plan your next step. So it's really hard. When we help people sell their house and they have no place to go, but if you have some place to go and you have a plan in place to get you to the next jump, it's always better to plan things out. We look see you on the other side. Hopefully this helps you to make that decision of if I'm gonna buy, if I'm gonna sell now or sell later. And by the way, buying something now is not a bad idea either. I would just wait until after the first of the year for you to buy something, especially if it's gonna be your vacation home or your retirement home, if you need help, what us just paying us on our website, or you can just check me out. My name is Sean sch. I'm the host and I look forward to union inside billion, blind spots, where we help people discover and capitalize on the blind spots in their life and their business. Sean Sal, your friend, your neighbor, your real estate expert. Talk to you soon.…
Sean Shallis your host, the billion dollar blind spots today, we're going to talk about one of the blind spots that happens every year during the holiday season. It's December 7th. When we get on the phone, we're talking to people in the morning about selling their house or possibly considering moving or something like that. The first thing we usually hear is we're going to wait until after the holidays. Nobody buys homes during the holidays. What's interesting is when you look at the chart and you look at a year over year chart during December and January and February, we have exit much activities we do in July and August. And the reason being is because, you know, it's appealing to our blind spot. The people that actually are buying homes actually get large chunks of cash toward the end of the year. They're usually getting bonuses or they're getting their tax returns, or are they getting something that's going to help subs subsidized their down payment where the money that they're going to use to acquire that house? It's also interesting too, is is that when people are waiting in order to put their house on the market in January, February, March, April, the funny thing is, is sales go down. I actually, for those at that particular time of year, the amount of transactions that goes down almost 10% across the, across the month over month. So what's interesting is you're going to introduce more inventory, which the more inventory you have, the less your property is going to be worth into a market where you're going to have less activity. So if you have more inventory and less activity, do you think your price is going to go up or down? Of course, it's going to go down. So, and ironically enough, when does this start to pick up again, September, October, November. So the hottest time of year to get the top dollar for your home starts and around. So at the end of September, and it goes all the way through April and again, why does that happen is because people are changing jobs. People are getting warrants to down payments as a result of, you know, bonus season or, you know, cashing in on the stocks or trying to do something before the end of the year, before it triggers it some kind of a tax event. So if you're thinking of putting your house on the market, somewhere in the March and April and may, you're actually pushing your house into the wind. I mean, it's like you're bringing inventory, you're bringing sand to the beach. And when that happens, it actually has an adverse effect on your price. So if you really wanted to get your house sold for the highest possible price in the shortest period of time, with the least amount of stress, the time to do it is in the last quarter of the year, between September and April on our professional opinion and our experience of selling over 2,500 homes in the past 25 years. If you want to find out more about a billion are blind spots in your business and your life, give us a call, let us know if you can. One of our guests on our show, you can actually get in touch with us over@billingtoourblindspots.com. Check it out on our podcast. Thanks a lot. And talk to you soon!…
Hey there. Welcome to the billion dollar wise buys where we actually help people, individuals and companies discover the wine sponsor business and their life actually fine. A way to actually change their life, change their business, and go from just getting by quantum jumps in quantum leaps in their business. If you want to find out more, stay tuned, as you're going to learn about in today's episode, we're going to talk about the real estate bubble what's going on in 2021. How's it similar to 2008. Let's find out introducing Sean, Charles, your host, the billion dollar blind spots. I am so excited. I actually talked to you today. I'm actually standing on the patio, looking at a billion dollar mark on the line when we're recording this, but I wanted to sit down and actually answer a bunch of questions that I can get from pastors and out buyers. So over the past six months or four months going through COVID-19, without a lot of people asking us about what's going on in the real estate market and what has, you know, the swelling down is speeding up and it's still crazy. It's still 15 buyers for every one listing. Well, let's back up a little bit. Let's look at, let's look at the blind spot. That's actually happening right now in the real estate opportunity. So what do I mean by a blind spot in the real estate opportunity for those people out there that are saying, Hey, Sean, how do I get a view on how do I buy it? When I hear these stories about these guys that bought things on the 10 cents on the dollar. Now, all of a sudden they're selling them for a million dollars. I want you that well, you're going to be in a good situation for the next six to four months in my professional opinion. Why do I say that? Well, if we back off a history repeats itself, okay, we go through cycles and those cycles are anywhere between eight to 10 years, 12 years. In some cases from peak to peak is what it's called. When you talk to analysts, I've studied it. And when I studied at NYU, I was in real estate analytics courses and it takes anywhere from eight to 12 years, you're going to have a cycle [inaudible] and in real estate, because we're such an inefficient market. If something starts to happen, now, it takes anywhere from 12 to 18 months for an actual to hit the papers are actually for us to recognize it in the news. So it's almost kind of like when you hear the, in the stock market, they talk about why in the rumor and soul news, same principle. So our cycle was a lot longer on a cycle than the cycle of your words. I can tell you that, Hey, the stock went up 50% in the past hour. You can actually look at the ticker-tape and see it instantly. But this is with the real estate market. It's an education business. So in order for you to see the market shifting, you have to actually be in the market a hundred homo, the pulse of the market, or you have to be really close in tune with somebody like myself or another real estate professional. That's doing real estate on a regular basis. Now, when I say doing real estate on a regular basis in a real estate professional, I'm talking about somebody that's doing more than 15, 20 transactions a year, and not the average realtor in your neighborhood who doing what the five transactions is by the way, in the United States of America, the average person, the average realtor is doing anywhere between one to five transactions as a professional Full-time realtor. What's interesting about that as you're representing it, in most cases, the representing 75% of those sales are representing a buyer. So they're really not on the marketing side or the sales side. They're more on the introduction and the, what I call them, you know, the Mary Kay side or the van await side of the industry, you know, they're basically showing and selling the properties. So let's take a deep dive into why am I saying there's a billion dollar opportunity right now coming in the next six to 12 months? Well, ironically enough, we go backwards in time and go back to 2008 and nine, 2008 and nine. We actually opened a real estate office, which is on [inaudible] it's in hole building a company. So I decided to keep going forward. We opened our doors in 2008, probably September, 2008, something like that instantly after we opened the doors, like six months later, the market had gone down 40% in sales. 45% was the average sell price, went down in volume. So we actually went through probably what I would call the financial, the bottle and the financial crisis of 2008 and nine. And during that period of time, we had one buyer that was qualified to buy a home at 15 houses on the market. Then when we were trying to sell the vast majority of those jobs were distressed situation. They were either upside down or short-sale pre-foreclosure or foreclosure. What's interesting is what we didn't know at the time was and what we do as professionals. But a lot of people didn't see it or didn't know it was, there was what they called the shadow with inventory. So what is the shower or the shadow inventory, real estate or properties that are actually out there in the market that people live in that are either 69 or 120 days leave, except that normally in an all market, the bank or a financial institution would actually file. What's called a LIS pendens under 60 days late, which is basically a court action or a court letter. And depending on if you're in a shape where the real estate process is done by court order and somebody sheriff sale depends on which one you're in, but either one they have to, after 60 days, they're going to notify that person that, Hey, you're late on your mortgage. And if you're continuing to be late, we're going to foreclose on you. We're going to take your house. You know, what's interesting is we can ship track. Those what's called lose credit is being filed across the country. And it's a very, it's a very ambiguous, it's an important indicator or task of the market's income. What's interesting. During 2018, we have about two headlines. People go out and work in the financial model over there and showing off over the next two years, 24 to 48 months, those people, most of them went back to work. So it wasn't, it wasn't that bad. Most of the people went back to work. Let's fast forward to 2020, 2019, 2020, the high Tacoma. What happened there is two 22 million people where I work again, 22 million people went out of work at the height of COVID. A lot of those people weren't going to work, whether by choice or because they didn't have a job offered to them. What do we mean by that? Well, during the period of time, a lot of these people actually got paid more, actually stay home than they were making when they went to work were slightly different. So they said, you know what, screw it. We're just going to say [inaudible], let's just say [inaudible], what's funny is a lot of people, not people back from work, we're going to still have these properties. The interesting thing is though, is the reason why we don't see that in the market right now is because we have memorandums. Like they didn't 2008, the government stepped in and said, oh my God, this crisis was not people's fault. Let's give them a break. And let's put a memorandum in place that says we can't foreclose on these people, the bikes and the finance students get foreclosed on fully wet after they opened up the gates. And the whole back in 2008 months, not only the price has been a 45% and the volume of sales go down 45%, just from the financial model. It went down to the additional 5% in most markets in most markets in the primary areas like the tri-state area or the Metro areas like Metro markets. We saw prices go down anywhere from eight to 12% when those property came with the market. Now how comb, like you're talking in 2008, we had over 800,000 properties come into the market as a result of the shallow inventory. So he heard a thousand properties. What does that end up in the grand scheme of things? When you're only selling 7.5 million home in the United States on a given year, these are already thousands of big chunk of property. What's interesting is if we do simple math, right? We had 2.2 0.5 million people out of work with 800,000 people that were in receivership or in some kind of distress situation that came into the market. So that's a pretty good, that's a pretty good chunk of people. Okay. Fast forward, 2020 19, 2020, we have 22 million people out of work. A lot of them not going back to work. What do you think the odds are that we're going to have anywhere between 1.5 to 2 million properties that our demand, some kind of a receivership or some kind of a distress situation. Now I'm not saying, hurry for them. Say when honestly, I mean, I'm sorry that snack, and then isolate. I want to see a robust, healthy, real estate market. But if you're asking me where there's a blind spot, where you can have an opportunity capitalize on Morton and my professional opinion, that market is on its way. It's going to be anywhere between 12 and 16 months from now, 12 to 18 months probably is a better number where we're going to start to see those properties coming into the marketplace. We've already started that with the memorandums, but it takes time for those properties to go through the process. How long does it take? They're probably people in there and try and get them back and right the ship over the next 30 to 60 days after the memorandum, once they figure out that that doesn't work, then they're going to start to file some kind of legal action, which is a list pendants file. Well, they filed Elizabeth is that's going to be a 30 to 60 day window of time that that's going to give the bank before they can now go in and try to foreclose on them. That process is going to take any work. I would say [inaudible] the amount of workloads that are going to hit the banking system and also hit the court system. So, you know, and then the jurors in a state where they do. So it's going to take the sheriff that whole, the process. So if you're looking for an opportunity in the real estate market, if you wanted to capitalize on the market, now, here's what I'm telling most of our customers, the people that are thinking of selling and wanting to find yours are better suited to sell that property. Now take the money off the table, put it on the silos because bear in mind during COVID-19 only 2008, where we had one buyer in 15 properties, where when you have that situation property to work-wise in COVID, we had one house for sale. 15 Myers is all prices up 15, 20% more than the rework intrinsic value of the home is even more. So if you're the list that you're, you're smart and you hide a, see the, you see the storm coming across the, across the ocean before anybody else, if you're thinking that you want to sell that house for the next one to five years, selling now put the money on the sideline, wait, anywhere between 12 and 18 months, you can probably buy your own house back with 10 to 15% less than you're paying for now. That's right. In my professional opinion, you're going to see the market dip about five to 10%, depending on where you are, as you're on the outskirts of haves and your resort communities, you may see a bigger jump in prices, but again, you we'll get for an, the goal would be as you sell your house on the market and wait for the market to correct in the next 12 to 24 months, and then have the cash on the sidelines and be able to buy out the property or to actually ride the wave again, and then ride it for another six to eight to 12 years for that property. Appreciate it again, and then go resell it. So again, if you're looking for a billion dollar blind spot, whether it's in your personal life, your business stay tuned on this point. Guess we're going to talk about holes in businesses and holes in your personal life that you just took. One little thing, one little tweak. You were able to change it and you can change your life. Change your ways in your business, your personal life. Hey, I'm Shawn shells. I'm your host at billion dollar mine blind spots, where we actually help you to discover the blind spots in your business, in your life to make the huge impact that help you to go from where you are, to where you want to be. Except we're going to shortcut the process and we're going to make a quantum jump in your business in your life. Look forward to talking to on the other side, Sean,…
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