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Speaker 1: Welcome to my show. I'm Rashon McDonald, a host of

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Speaker 1: Money Making Conversations Masterclass, where we encourage people to stop

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Speaker 1: reading other people's success stories and start planning your own.

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Speaker 2: Now.

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Speaker 1: a moment right now to follow or subscribe to Money

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Speaker 1: Making Conversations Masterclass.

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Speaker 1: You can follow me on the iHeartRadio app, Spotify, Apple Podcasts,

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Speaker 1: or wherever you listen to your podcast. New Money Making

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Speaker 1: Conversations Masterclass episodes drop daily. I want to keep you

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Speaker 1: on alert because my guests provide tips on how you

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Speaker 1: can uplift your community, improve your financial planning, motivation, or

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Speaker 1: advice on how to be a successful entrepreneur. Now, let's

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Speaker 1: get this podcast started. My guess is a former firefighter

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Speaker 1: who has since become one of the nationest top real

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Speaker 1: estate agents. In twenty twenty four, he ranked in the

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Speaker 1: top twenty among more than sixteen thousand realtors and the

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Speaker 1: Atlantic Relators Association with nearly one billion dollars in lifetime sales.

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Speaker 1: He is a trusted expert and residential luxury and the

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Speaker 1: Questrian properties. He's only show to discuss his career change

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Speaker 1: as I say the earlier firefighter Timson went to sell

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Speaker 1: your home and most importantly, how to close the right

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Speaker 1: idea for you when buying a home. Please welcome the

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Speaker 1: money making conversation mastic Land, Todd Cooper.

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Speaker 2: How are you doing to Sean? Thank you for having

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Speaker 2: me on. There's a lot, there's a lot. That's a lot.

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Speaker 2: That's a lot.

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Speaker 1: A billion dollars in home sales. Sir Okay tell us

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Speaker 1: about the first home.

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Speaker 2: The first home, so first home originally from West pomp

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Speaker 2: Viach area I started. I moved up here to Atlanta

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Speaker 2: in twenty seventeen. So I started my fire department career

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Speaker 2: down in Brower County and I transitioned to the fire

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Speaker 2: department about halfway through the fire department. Loved the fire department,

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Speaker 2: but I knew very early on that was a young

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Speaker 2: man's business, right and after a while, it does take

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Speaker 2: a toll on your body. It takes a toll not

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Speaker 2: just your body, but your family and things like that.

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Speaker 2: So early in my career I decided I needed to

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Speaker 2: figure out what was my next step in right right

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Speaker 2: love helping people. That's why I became a fireman. So

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Speaker 2: real estate I was drawing because it was another way

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Speaker 2: to still be helping people, right, but in a different sense.

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Speaker 2: You know, I wasn't running through their house, running to

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Speaker 2: their house, you know, putting on a fire or taking

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Speaker 2: some of the ambulance. I was basically helping that family

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Speaker 2: move to some other transitional life, whether it was a

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Speaker 2: new baby, right, whether it was the empty the family,

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Speaker 2: the parents, empty nesters moving on to the smaller home,

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Speaker 2: or just whatever it made.

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Speaker 1: So it was a part time, yes, full time. Was

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Speaker 1: a firefighter kind of like a weekend run.

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Speaker 2: Now. I started off, it started off a couple of

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Speaker 2: days a week, and then what happened was at the

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Speaker 2: time I wasn't married, so I had a lot of

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Speaker 2: time on my hands, right, So I was really doing

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Speaker 2: the fire department and the real estate together full time.

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Speaker 2: So you balanced it balanced it which was tough, which

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Speaker 2: is very tough. So I got my So I became

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Speaker 2: a firement back in nineteen ninety two, retired in twenty fourteen.

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Speaker 2: I got my real estate license in two thousand and two,

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Speaker 2: so it was about ten years after it. Became a farmer.

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Speaker 2: So Colm was like right in the middle of my career,

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Speaker 2: did that for a while, became very was very successful

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Speaker 2: down in West Palm Beach area doing real estate, and

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Speaker 2: then I decided I want to become a broker. What's

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Speaker 2: the difference. So a broker is the one who is

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Speaker 2: in charge of the office. They basically they oversee the realtors.

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Speaker 2: Ok so you have real Basically, it's kind of like

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Speaker 2: a nurse and a doctor. Right in real estate would

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Speaker 2: be real estate agents would be the nurses, right, and

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Speaker 2: then the doctor would be the brokers. The broker oversees

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Speaker 2: the agents and manages them. So I had a broker

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Speaker 2: that I worked for that at the time I felt

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Speaker 2: didn't really did a good job. And I was at

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Speaker 2: that young age where I was like, you know, I

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Speaker 2: think I could do this better. So I was married

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Speaker 2: to Abbey, who's my wife now, and I said, honey,

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Speaker 2: what do you think let me get my broker's license, right,

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Speaker 2: Because so.

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Speaker 1: There's a difference between a real estate license and broker's

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Speaker 1: correct the test.

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Speaker 2: There's different tests and there's different levels of education. Okay,

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Speaker 2: so let's just say a broker's license is say sixty

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Speaker 2: five hours right to get to be able to sit

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Speaker 2: and take the test. Broker's licenses would be double that,

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Speaker 2: So double the education.

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Speaker 1: Okay, age sixty five, brokeus about one hundred and thirty

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Speaker 1: five one hundred and thirty give or take, and then rarely.

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Speaker 2: What it is is you go from learning the industry

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Speaker 2: to learning how to manage people. Okay, So I took

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Speaker 2: that on with my wife's blessing, and I got my

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Speaker 2: broker's license at twenty thirteen in West Palm Beach and

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Speaker 2: opened up an office in a city called Wellington, which

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Speaker 2: is basically just west of downtown West Pump. And we

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Speaker 2: open up an office Matdbey and I. I actually approached

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Speaker 2: the company I worked for. They knew me because I

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Speaker 2: was pretty good in sales. Like any good manager, they

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Speaker 2: know that they're a good salesperson, someone who is self sufficient,

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Speaker 2: someone who doesn't get themselves in trouble. R represents the

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Speaker 2: brand and looks out for their clients.

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Speaker 1: You used to word trouble, get themselves in trouble because

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Speaker 1: they are people listening, yes, and they get realtors know

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Speaker 1: how you get a house? Absolutely, Okay, the word trouble.

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Speaker 1: What should they look at when you said the word trouble?

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Speaker 2: So, and what it I pretendency to do is, you know,

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Speaker 2: we're real estate agents. We're not attorneys, right, We're not

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Speaker 2: we're not financial advisors, right. So you gotta be careful

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Speaker 2: on what kind of advice you give your seller. Right.

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Speaker 2: You want to stay in your scope or practice. You

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Speaker 2: want to educate them in real estate and guide them. Now,

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Speaker 2: do you consult them on a base level, Yes, you do,

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Speaker 2: but you gotta be very very careful on how far

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Speaker 2: you go right right.

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Speaker 1: Tell them they can afford this home, right, asking them

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Speaker 1: what they make annually? Right, really getting too personal about

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Speaker 1: their finances. You're there to sell a.

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Speaker 2: Home, right exactly, And when you know, when it comes

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Speaker 2: to like legal questions, if it's out of your scope

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Speaker 2: of practice, what you really should be doing is saying,

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Speaker 2: you know what, that's really not my scope of practice,

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Speaker 2: but I have an attorney, a closing attorney, that let's

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Speaker 2: give them a call and let's get that question answered

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Speaker 2: for you. Okay, okay, continue. So anyway, so I open

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Speaker 2: up the eye. So I approached the company I was

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Speaker 2: working for at the time, and I said, listen, I said,

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Speaker 2: I got my broker's license. I would love and not

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Speaker 2: opportunity because I knew Wellington where we lived, needed needed

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Speaker 2: another branch. I said, like an opportunity to open up

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Speaker 2: a branch office. I'll do it on my own dime.

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Speaker 2: I'll pay for everything. I just want the brand name

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Speaker 2: and I want the logistical sport support. So they gave

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Speaker 2: me the blessing, and Abby and I opened up our

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Speaker 2: office and welling. It was just me and her at

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Speaker 2: the time. At that point, I went from you know,

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Speaker 2: working with clients every day out in the field to

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Speaker 2: basically now it is becoming a manager. You can't you

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Speaker 2: can't serve clients in the field and manage a bunch

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Speaker 2: of realtors. It's it's just just too difficult. So I

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Speaker 2: kind of took a step back from dealing with your

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Speaker 2: working with clients and went into the management rule. We

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Speaker 2: did that for about four years. I grew the office

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Speaker 2: to about four hundred agents to four hundred four hundred agents.

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Speaker 2: It was a great office. We were at the cop

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Speaker 2: at seventeen. Officers were always ranked in the top five

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Speaker 2: every every year in sales. And then one day I

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Speaker 2: came home until my wife I said, you know, honey,

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Speaker 2: I said, I'm ready to move. As I said, you

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Speaker 2: want to do what I said, I'm ready to move

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Speaker 2: at the time, So we opened the office I decided

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Speaker 2: also too at the time, you know, doing working with

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Speaker 2: some clients in my days off and running a business.

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Speaker 2: As I realized there's two different things, right, because you've

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Speaker 2: got a lot of people that need you after hours,

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Speaker 2: not just an occasional phone call. Net. So what I

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Speaker 2: did in twenty fourteen is I told her one day,

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Speaker 2: I said I can't, I can't do this anymore. She's like,

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Speaker 2: what do you mean you can't do this anymore? She thought,

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Speaker 2: she thought relationship wise, no, no no, no, no no no, no,

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Speaker 2: baby or everything to me back, but I can't do

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Speaker 2: the fire department and I can't run this office. Finally,

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Speaker 2: the ballance. You've gotten too much? Yes, you know that.

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Speaker 2: You said, a lot of people questioned you. Well, you

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Speaker 2: made this decision, and.

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Speaker 1: I talk about that my introsa to your friends, co workers.

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Speaker 1: People will love you because this is your final decision.

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Speaker 1: Talk about walking.

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Speaker 2: Through the steps. You had your wife, but then you

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Speaker 2: had that outside noise. Yeah, so the outside noise was

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Speaker 2: being with the fire department is a very good career.

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Speaker 2: I encourage anybody who wants to get into it. Right

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Speaker 2: it's it's going to be a steady income study career.

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Speaker 2: You can advance throughout the levels. I moved from a

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Speaker 2: very stable career to what can be sometimes an unstable career. Yes,

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Speaker 2: you know, real estate's very up and down right. You know,

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Speaker 2: when it's a great When the real estate's great, everybody

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Speaker 2: wants to be a relitary. When it's not great, everybody

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Speaker 2: jumps out of it. And I walked away from a

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Speaker 2: career that I started when I was twenty one years old.

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Speaker 2: At forty four years old, I called it quits. I'm

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Speaker 2: really unannounced it was. It was a quick decision. In fact,

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Speaker 2: I avoided a lot of phone calls from you know,

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Speaker 2: people in the department because I did not want anybody

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Speaker 2: to persuade my decision. I knew real estate was where

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Speaker 2: I was going to be, you know, a long term.

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Speaker 2: I love what I did. I wasn't quite sure I

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Speaker 2: wanted to manage long term because I did miss the

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Speaker 2: you know, the clients. I love the individual one on

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Speaker 2: one thing. That's really where that that's where I really shine.

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Speaker 2: That's really where I feel most needed and most wanted,

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Speaker 2: and where I enjoy the most. So I retired from

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Speaker 2: the fire department, and very shortly after that the office

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Speaker 2: was doing great, but I just something felt missing. And

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Speaker 2: what it was was, even though I was even though

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Speaker 2: I was good at managing the office and growing the brand,

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Speaker 2: I didn't it's not where my heart was. My heart

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Speaker 2: was with with clients. You know, some of my best friends,

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Speaker 2: some of my best connections I've been in past clients.

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Speaker 2: You know. In fact, I think a lot of my

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Speaker 2: friends now are all past clients, yourself included. Right, So,

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Speaker 2: so what we did. So I came home one day

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Speaker 2: and I said, I said, let's let's move. And She's like, what, So, yeah,

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Speaker 2: I said, it's time we have to. You know, we

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Speaker 2: were starting to grow our family. We had summer at

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Speaker 2: the time. I think Anna was on her way. And

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Speaker 2: I grew up in South Florida, and I see the change,

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Speaker 2: you know, things, you know, wasn't you know, not like Atlanta.

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Speaker 2: I love Atlanta. You know, we have great culture here,

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Speaker 2: great families, great schools, great everything. And I said, well,

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Speaker 2: I said, obviously, when I moved to Atlanta in twenty seventeen,

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Speaker 2: you know, I had to re establish myself right right,

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Speaker 2: So initially what I was doing is we moved to

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Speaker 2: Cherokee County, which is pretty close to five thirty five.

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Speaker 2: So I needed that commute, so I was doing when

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Speaker 2: we moved to Atlanta, I was doing commutes from I

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Speaker 2: would get up in the morning at five o'clock, I'd

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Speaker 2: drive to airport, the airport, Lanta airport. How long was

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Speaker 2: they drive time? Bye hour, bine hour. I get on,

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Speaker 2: I get I can leave good by five, Get to

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Speaker 2: the airport by six, because you know, you want to

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Speaker 2: make sure you get there early enough. Get on the plane.

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Speaker 2: I'd land in West Palm about eight thirty five. Get

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Speaker 2: to the office. I'd work all day, you know, make

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Speaker 2: sure things were organized, make things through going, make sure

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Speaker 2: my managers were doing what they were doing. And then

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Speaker 2: I'd get back on back to the airport by seven

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Speaker 2: thirty and night, get back on the plane by nine,

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Speaker 2: and I'm back in Atlanta and drive home. I'd be

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Speaker 2: home by one o'clock in the morning.

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Speaker 1: Okay, your first time home buyer, what what do they

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Speaker 1: expect from you?

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Speaker 2: And what do you have to deliver to a first

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Speaker 2: time home buy So first time home buyer is kind

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Speaker 2: of like, you know, it's almost like taking your son

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Speaker 2: out or your daughter out to drive their car for

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Speaker 2: the first time. They know absolutely nothing right and you

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Speaker 2: have to hold their hand and walk them through and

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Speaker 2: show them the things you go, show them the things

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Speaker 2: that they need to look for when they're buying a home.

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Speaker 2: You know, when you put what I pull up to

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Speaker 2: a house with a buyer, whether it's a first time

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Speaker 2: home buyer or someone who's been buying homes your whole life,

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Speaker 2: I look for certain things that they may not look

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Speaker 2: for when they're looking for a home. You know, there's

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Speaker 2: certain things that can devalue home. There's certain things that

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Speaker 2: could take away from a home, right. So I look

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Speaker 2: for those things, and I'll point those things out to

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Speaker 2: new home buyer. I'll even point them out to a

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Speaker 2: buyer whose experience because a lot of times people get

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Speaker 2: tunnel vision right. My job as a realtor is consulting right,

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Speaker 2: making sure I help them in every avenue I can.

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Speaker 2: If it's something I don't know, I put them in

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Speaker 2: with contact with someone who does know, right. But when

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Speaker 2: it comes to looking at homes, my job is to

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Speaker 2: look for the pink elephant in the realm.

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Speaker 1: It's really important that you say that because of the

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Speaker 1: fact that you know, when you're stelling a home, that's

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Speaker 1: a night's commission, and so you can look at that

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Speaker 1: person that the buyer or as a commission and I

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Speaker 1: want to close the deal. But you winning right now

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Speaker 1: because of word of mouth and people recommending in you

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Speaker 1: for because of how you treated them and got them

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Speaker 1: into the house. Because I think one of the keys

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Speaker 1: is when you buy a home also being able to

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Speaker 1: sell that home.

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Speaker 2: Correct. Correct, So it should never be about the commissions. Right,

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Speaker 2: commissions will come if you treat the people properly. I

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Speaker 2: have never I never focused on commissions. It's it's if

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Speaker 2: you're focused on commissions, you need to pick a different industry. Right.

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Speaker 2: It should be about it should be helped about helping

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Speaker 2: that person out, get them into the right house. You know,

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Speaker 2: make sure you know you don't leave no stone unturned

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Speaker 2: because really this business is about it's about referrals, it's

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Speaker 2: about connections, it's about you know, about meeting people. It's

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Speaker 2: not about commissions.

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Speaker 1: So home family, families who want to buy homes, what's

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Speaker 1: approach on that.

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Speaker 2: So whether whether it's a family buying a home, new

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Speaker 2: home buyer or empty nesters, there's certain things that you

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Speaker 2: should look for when you buy a home. Okay, right,

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Speaker 2: talk to it. So, first of all, when buyers don't

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Speaker 2: walk into a home, they think they're and there. They

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Speaker 2: think when they walk the door, they're looking at the

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Speaker 2: home logically, they're actually looking at the home emotionally first.

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Speaker 2: Logic comes second. So when someone walks home, the first

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Speaker 2: thing there, you know, within the first three to five minutes,

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Speaker 2: they've already decided whether you're like that home or not. Right.

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Speaker 2: That's why a house can have two different buyers go

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Speaker 2: into and get two different feelings and two different outcomes, right,

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Speaker 2: because everybody looks at something different. When a buyer goes

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Speaker 2: into a home, what you know, what they're thinking usually

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Speaker 2: is they're thinking, does this house feel right? Does anything

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Speaker 2: turn me off? And can I see myself living here? Right?

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Speaker 2: That is the emotional side right. In fact, I'll give

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Speaker 2: you a scenario. I just close a deal on a

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Speaker 2: house in Alpharetta and we went down the basement. There

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Speaker 2: was a sign on the basement wall for it is

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Speaker 2: like a suburb of Atland. Yes, we are kind of

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Speaker 2: like upper middle class correct, Yeah, And we went down

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Speaker 2: to the terrace level to the basement and there was

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Speaker 2: a sign of the wall that they had exactly same

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Speaker 2: sign in their house. And that was the connect, That

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Speaker 2: was the emotional connection. Look like she's like, honey, look,

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Speaker 2: that's the same exact sign we had. So that was

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Speaker 2: that commotional connection, right. The people make the commotional connection first.

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Speaker 2: And what what changes that with a buyer is when

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Speaker 2: they walk into a home. You know, how does it

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Speaker 2: feel when they first walk in? Is the dark home?

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Speaker 2: Does it feel bright? Right? Like light bulbs. Your choice

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Speaker 2: of light bulbs can really make make how a house feels.

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Speaker 2: You know, like you have what's called software. Everybody loves

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Speaker 2: to live and look soft way because it kind of

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Speaker 2: gives it like a little bit relaxing feeling, romantic feeling,

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Speaker 2: but it's not the best life for selling. Bright white

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Speaker 2: is the best way. You want the rooms to be bright.

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Speaker 2: You know, you want you know your furniture the way

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Speaker 2: you live. Where we placed our furniture is a big things.

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Speaker 2: So that's kind of like because you do there are

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Speaker 2: two people. You deal with buyers and you deal with seller. Right,

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Speaker 2: Please don't go anywhere. We'll be right back with more

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Speaker 2: Money Making.

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Speaker 1: Conversations master class.

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Speaker 3: No need for you to do me a favor right

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Speaker 3: now to follow our subscribe to Money Making Conversation. It's

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Speaker 3: back to Money Making Conversations master Class with me Rashaun McDonald.

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Speaker 1: Now we just talked about buyers right now, the seller's approach,

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Speaker 1: you kind of getting into that soft line and how

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Speaker 1: you sell a home.

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Speaker 2: Talk about that right. So when yeah, so when I

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Speaker 2: when I take take on a new listing and I

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Speaker 2: meet a seller for the first time, you know, they

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Speaker 2: always ask me when's the best time, you know to

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Speaker 2: sell a home, and really that's not the right strategy.

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Speaker 2: There's a couple of things that go into selling home.

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Speaker 2: It's not only about you know, the market being and

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Speaker 2: you know market be in a good condition as far

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Speaker 2: as you know, you know, inventory and things like that.

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Speaker 2: But it's also the way the house looks, the way

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Speaker 2: the house presents itself, right, because when that buyer comes

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Speaker 2: to that front door within the first three or five minutes,

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Speaker 2: that's you know, you're either going to have them locked

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Speaker 2: in or not locked in. So things like you know,

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Speaker 2: color color schemes, paint colors, right, you know, everybody loves

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Speaker 2: to express themselves in their homes. When it comes to selling,

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Speaker 2: neutral is always better. I'm talking to Toppop or to

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Speaker 2: the top. It was a the Top.

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Speaker 1: I'm giving you a title like you deserve because you

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Speaker 1: recently got in the ward correct yes sir, yes, yes,

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Speaker 1: so twenty twenty four and twenty twenty five on the

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Speaker 1: number one single agent in the state of Georgia for

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Speaker 1: sales and listings.

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Speaker 2: Number one, number one. So I'm talking to the band

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Speaker 2: with Berkshire halfway. Yes, and I'm talking to the.

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Speaker 1: Bets goodness yes, no, no, I'm talking to the bit

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Speaker 1: Yes you are, thank you very much.

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Speaker 2: How do we get in touch with you Top? You

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Speaker 2: can reach you it by myself which is seven seven

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Speaker 2: zero nine one zero forty eight sixty or by website

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00:17:00,560 --> 00:17:04,080
Speaker 2: which is a group of team dot com and k

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00:17:04,359 --> 00:17:07,480
Speaker 2: R O U p A and then Team t e A, m.

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Speaker 1: Okay dot com dot com. And let's talk about you

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Speaker 1: talked about buyer sellers. We talk about emotion, but the

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Speaker 1: inspection is the truth teller. Yes, now I want to

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Speaker 1: talk about the inspection. Then I want to talk about

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Speaker 1: people who kind of ignore the inspection because they still

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Speaker 1: emotionally tied to the property.

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Speaker 2: You've had those people absolutely, Okay, talk about the importance

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Speaker 2: of an inspection. Okay. So yeah, So when you go

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Speaker 2: on a contract with a house, you have what's called

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Speaker 2: the due diligence period, and that's really what's called the

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Speaker 2: inspection period. And during that time, you know, Atlanta or

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Speaker 2: Georgia is a due diligence state. So as a buyer,

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Speaker 2: your your job is to do your due diligence, and

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Speaker 2: part of your due diligenes is basically to do inspections

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Speaker 2: of the property. Some inspections I highly recommend you should

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Speaker 2: do a radon test, which is a gas that comes

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Speaker 2: to the soil does cause cancer ordor liss smellet, but

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Speaker 2: it's very treatable. So you do a radar test. Sometimes

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Speaker 2: you do air quality tests, and you do a full

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Speaker 2: inspection test. You have a pool, you do a pool test,

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Speaker 2: and really what you're doing is you're looking for issues

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Speaker 2: that will come up in an inspection that maybe you

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Speaker 2: needed to be either be corrected by the seller or

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Speaker 2: discounting the price when you get to you know, fix

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Speaker 2: it yourself, right because a lot of times, you know,

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Speaker 2: when you know houses, all houses have problems, right, they're

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Speaker 2: made by human hands, they fall apart, they need to

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Speaker 2: be taken care of, and depending on the level of

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Speaker 2: care will depend on what comes up in an inspection.

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Speaker 2: A lot of times the inspection Atlanta, sorry, Georgia is

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Speaker 2: a as uh as this contract. We use what's called

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Speaker 2: as this contract, so you have a right to inspect,

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Speaker 2: but no parties have to agree on inspections. Okay, So

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Speaker 2: by by doing an inspection, that gives you an opportunity

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Speaker 2: to go back to the seller and say, listen, we

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Speaker 2: found some major issues, whether it's you know, foundation issues,

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Speaker 2: whether it's mold issues, whether it's a roof issue, and

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Speaker 2: that's your opportunity to negotiate that price or step away

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Speaker 2: from the deal if you feel it's not working.

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Speaker 1: What are the I was just gonna put another mode.

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Speaker 1: Let's say top three walk aways. If you were the

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Speaker 1: client and you see something in an inspection. Some things

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Speaker 1: you might notice right away, but you didn't see it,

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Speaker 1: and the inspection kind of goes underneath what we visually

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Speaker 1: can't see right correct.

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Speaker 2: Top three walk away, Top three walk aways mold foundation issues,

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Speaker 2: and the other big one is going to be roof

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Speaker 2: issues issues. Yeah, because roofs can be very expensive. Probably

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Speaker 2: one of the most expensive things to replace, and a

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Speaker 2: lot of times, you know, if the roof is old enough,

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Speaker 2: it's hard to even get insurance on it. So you

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Speaker 2: have an issue when you if you accept the roof

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Speaker 2: in the condition it is and it's passed its life expectancy,

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Speaker 2: a lot of times insurance companies don't want to share

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Speaker 2: that property and you can't even get to the closing table. Right. So, Toad,

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Speaker 2: when you talk about.

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Speaker 1: Emotion, because that's important, because that's you know, you said,

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Speaker 1: if you're a buyer, you send out options to them

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Speaker 1: and they look at all the features, they see the

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Speaker 1: yard because nowadays you can go online and see forty

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Speaker 1: to fifty pictures of the potential home that you want

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Speaker 1: to go see before you physically go see it.

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Speaker 2: Get the emotion past the inspection.

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Speaker 1: Talk about that and how do you navigate because they

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Speaker 1: in the end, they're going to.

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Speaker 2: Seek advice from you.

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Speaker 1: Yes, but and that's what you say, Richard, commission is

432
00:20:35,520 --> 00:20:38,639
Speaker 1: not my number one goal. Giving them the right long

433
00:20:38,720 --> 00:20:41,160
Speaker 1: term relationship where they want to live is the key.

434
00:20:41,680 --> 00:20:43,680
Speaker 2: Talk about navigating that area.

435
00:20:44,240 --> 00:20:48,240
Speaker 1: When you have somebody, are some people who are adamant

436
00:20:48,240 --> 00:20:51,520
Speaker 1: about going into the space you may not be comfortable selling.

437
00:20:51,240 --> 00:20:54,919
Speaker 2: Them to So when we get to that part of

438
00:20:54,960 --> 00:20:59,000
Speaker 2: the inspection and things come up and there's issues, when

439
00:20:59,040 --> 00:21:01,119
Speaker 2: I tell them if you if you're not comfortable with

440
00:21:01,119 --> 00:21:03,320
Speaker 2: the property now, you're not going to be comfortable with

441
00:21:03,359 --> 00:21:06,320
Speaker 2: it after you're close, right, So sometimes you have to

442
00:21:06,359 --> 00:21:10,240
Speaker 2: walk away. You know, every house is going to have issues,

443
00:21:10,280 --> 00:21:14,520
Speaker 2: like we discussed, but the level issue is all you know,

444
00:21:14,560 --> 00:21:16,800
Speaker 2: all different levels and the way some people look at

445
00:21:16,800 --> 00:21:18,760
Speaker 2: things the way other people look at things are totally different.

446
00:21:18,840 --> 00:21:23,400
Speaker 2: So I give you example, if a inspection comes back

447
00:21:23,440 --> 00:21:26,879
Speaker 2: and we have some electrical issues, are we talking rewiring

448
00:21:26,880 --> 00:21:29,159
Speaker 2: in the house? Are we talking outlets? You know, we

449
00:21:29,280 --> 00:21:31,080
Speaker 2: have to look at what those issues are because some

450
00:21:31,119 --> 00:21:33,760
Speaker 2: of those issues are easy fix, some of them aren't.

451
00:21:34,520 --> 00:21:36,679
Speaker 2: But don't be afraid to walk away from home. You

452
00:21:36,720 --> 00:21:38,879
Speaker 2: know that, you know, and usually if a deal is

453
00:21:38,920 --> 00:21:41,320
Speaker 2: not going to work out, it usually falls through during

454
00:21:41,320 --> 00:21:43,440
Speaker 2: the inspection time. I asked you to send me a

455
00:21:43,480 --> 00:21:44,080
Speaker 2: couple of questions.

456
00:21:44,119 --> 00:21:45,280
Speaker 1: I want to make sure I can get on me

457
00:21:45,359 --> 00:21:48,840
Speaker 1: and you know, uh, why more families are choosing multi

458
00:21:48,880 --> 00:21:49,879
Speaker 1: generational living?

459
00:21:50,560 --> 00:21:52,720
Speaker 2: So that's a great question. So well, first of all,

460
00:21:52,760 --> 00:21:56,920
Speaker 2: I think COVID really changed that force. Right, We'll be

461
00:21:56,960 --> 00:21:59,600
Speaker 2: there's about seven million people on that how many how

462
00:21:59,600 --> 00:22:02,760
Speaker 2: many fans families didn't get to say goodbye to loved ones.

463
00:22:03,920 --> 00:22:06,800
Speaker 2: Big thing too is, you know, the cost of living

464
00:22:06,880 --> 00:22:09,439
Speaker 2: has gotten more expensive, right. You know I tell my

465
00:22:09,480 --> 00:22:11,040
Speaker 2: wife all the time, I said, honey, we might have

466
00:22:11,080 --> 00:22:13,640
Speaker 2: to just leave our home to our goods because it's

467
00:22:13,640 --> 00:22:16,480
Speaker 2: getting so expensive. So you add the cost of living,

468
00:22:17,680 --> 00:22:21,240
Speaker 2: you know, care, you know, like daycare has gotten very expensive, right.

469
00:22:21,280 --> 00:22:22,760
Speaker 2: So what I'm seeing is I've seen a lot of

470
00:22:22,760 --> 00:22:25,600
Speaker 2: families that one don't ever have to go through that again,

471
00:22:25,640 --> 00:22:28,160
Speaker 2: where they can't say goodbye to grandma and grandpa because

472
00:22:28,200 --> 00:22:30,280
Speaker 2: you know, obviously when during COVID we weren't able to

473
00:22:30,840 --> 00:22:35,240
Speaker 2: reach those people. Daycare is very expensive, right, even even

474
00:22:35,240 --> 00:22:38,399
Speaker 2: with two incomes, it's almost it's hard. And then you know,

475
00:22:38,520 --> 00:22:40,919
Speaker 2: cost of living has gone up, real estate has gone up.

476
00:22:41,080 --> 00:22:43,800
Speaker 2: So what I'm seeing is I'm seeing families pulled together

477
00:22:44,960 --> 00:22:49,000
Speaker 2: and do want to do you know, family compounds, right,

478
00:22:49,040 --> 00:22:52,119
Speaker 2: which is basically you know, large apiece of parcel of

479
00:22:52,240 --> 00:22:55,480
Speaker 2: land where they can build either multiple homes or they

480
00:22:55,480 --> 00:22:58,000
Speaker 2: can do it in law suite. Doing in law suite

481
00:22:58,040 --> 00:23:00,359
Speaker 2: is basically it's part of the main house, right, so

482
00:23:00,400 --> 00:23:02,440
Speaker 2: you have the main house and it's connected by a breezeway,

483
00:23:02,520 --> 00:23:04,639
Speaker 2: or it's actually connected to the thousand right, or they

484
00:23:04,840 --> 00:23:07,000
Speaker 2: want they want to do what's called it a du

485
00:23:07,280 --> 00:23:09,600
Speaker 2: which is an accessory dwelling unit, which is basically a

486
00:23:09,640 --> 00:23:12,919
Speaker 2: separate unit. So that's become very popular all because of

487
00:23:12,960 --> 00:23:16,440
Speaker 2: those situations. Why is real estate one of the most

488
00:23:16,480 --> 00:23:20,800
Speaker 2: reliable wealth building tools. Well, let's compare real estate with

489
00:23:20,880 --> 00:23:24,480
Speaker 2: a stock right. Most of the wealthy people are in

490
00:23:24,560 --> 00:23:26,960
Speaker 2: both right to some degree as a balance as a

491
00:23:26,960 --> 00:23:29,640
Speaker 2: balance right, but this is the true difference between the two.

492
00:23:29,880 --> 00:23:34,160
Speaker 2: So with a stock right, you can't control it right,

493
00:23:34,280 --> 00:23:38,000
Speaker 2: you can't alter it right, you can't improve it, and

494
00:23:38,040 --> 00:23:41,240
Speaker 2: you can't limit it right. All those four things you

495
00:23:41,240 --> 00:23:43,560
Speaker 2: can do with a home. Not to mention, you get

496
00:23:43,680 --> 00:23:46,720
Speaker 2: tax advantage, right, whether you're doing a ten thirty one

497
00:23:47,080 --> 00:23:50,320
Speaker 2: and you're rolling over your you know, your taxification to

498
00:23:50,320 --> 00:23:54,400
Speaker 2: another to another time frame right investment property, or you're

499
00:23:54,440 --> 00:23:57,320
Speaker 2: taking the tax reduction in your mortgage and your taxes

500
00:23:57,359 --> 00:24:00,000
Speaker 2: in the year right, or you're renting the property out.

501
00:24:00,240 --> 00:24:03,480
Speaker 2: Can't run stock out. So there's so many advantages for

502
00:24:03,480 --> 00:24:06,840
Speaker 2: for for a homeowner to own a home now, I

503
00:24:06,880 --> 00:24:09,640
Speaker 2: recommend doing both if you can, if you know as

504
00:24:09,480 --> 00:24:13,400
Speaker 2: a you know, more level portfolio. But real estate by

505
00:24:13,440 --> 00:24:15,800
Speaker 2: far to me is superior to real estate.

506
00:24:16,800 --> 00:24:18,960
Speaker 1: I've always run into people they always say they always

507
00:24:18,960 --> 00:24:20,800
Speaker 1: say that I want to be at the biggest house.

508
00:24:20,840 --> 00:24:23,439
Speaker 1: I want to the most expensive house. But you have

509
00:24:23,760 --> 00:24:27,880
Speaker 1: a statement to day. Buying the highest price isn't always

510
00:24:27,920 --> 00:24:28,760
Speaker 1: the smart price.

511
00:24:28,840 --> 00:24:32,240
Speaker 2: Absolutely, so you don't want to be the most expensive

512
00:24:32,280 --> 00:24:36,480
Speaker 2: house in the neighborhood where is that well, houses will help.

513
00:24:36,680 --> 00:24:39,600
Speaker 2: So houses in your neighborhood, in your area will cap

514
00:24:39,680 --> 00:24:44,440
Speaker 2: what your house can eventually exceed as far as value

515
00:24:44,440 --> 00:24:47,280
Speaker 2: goes right right right, because you do comes right correct,

516
00:24:47,600 --> 00:24:50,479
Speaker 2: so when you compared. So when you're looking, so if

517
00:24:50,520 --> 00:24:52,399
Speaker 2: you're going to sell your house and you're trying to

518
00:24:52,400 --> 00:24:54,800
Speaker 2: figure out the value of your house, you know, you

519
00:24:54,800 --> 00:24:56,600
Speaker 2: look at a couple of things. You look at you know,

520
00:24:57,440 --> 00:24:59,840
Speaker 2: what's the market doing, like what's the inventory out there?

521
00:25:00,080 --> 00:25:03,160
Speaker 2: Interest rates? You know, interest rates will have impact on that.

522
00:25:03,440 --> 00:25:06,520
Speaker 2: Inventoria has an impact on that. But houses will cap

523
00:25:06,800 --> 00:25:10,440
Speaker 2: in an area. So if you buy a house, say

524
00:25:10,480 --> 00:25:12,720
Speaker 2: like your say your house is sitting a million dollars,

525
00:25:13,080 --> 00:25:16,399
Speaker 2: but everything around you. It supports a value of eight

526
00:25:16,520 --> 00:25:19,480
Speaker 2: hundred thousand. Right, you're gonna you're gonna put yourself in

527
00:25:19,480 --> 00:25:21,840
Speaker 2: a position of maybe not be able to either increase

528
00:25:21,880 --> 00:25:24,159
Speaker 2: that value long term or you're gonna to wait for

529
00:25:24,200 --> 00:25:25,280
Speaker 2: everybody else to catch up to.

530
00:25:25,240 --> 00:25:28,440
Speaker 1: You, you know, because that's what it's all about. And

531
00:25:28,600 --> 00:25:32,119
Speaker 1: in closing, Todd, you know, one more time, tell us

532
00:25:32,160 --> 00:25:32,960
Speaker 1: how they get in touch with you.

533
00:25:33,000 --> 00:25:35,640
Speaker 2: They're riching you by by byself, which is seven seven

534
00:25:35,720 --> 00:25:38,240
Speaker 2: zero nine one zero forty eight sixty I respond to

535
00:25:38,280 --> 00:25:40,879
Speaker 2: text calls twenty four to seven.

536
00:25:41,040 --> 00:25:46,160
Speaker 1: Okay, now first half home multiple talking about multi generational limit.

537
00:25:46,400 --> 00:25:49,440
Speaker 1: We talked about family buyers. Which they want to know about,

538
00:25:49,480 --> 00:25:52,560
Speaker 1: the schools they want to know by ore the other

539
00:25:52,800 --> 00:25:55,639
Speaker 1: kids in their neighborhood. Let's talk about one thing. You

540
00:25:56,040 --> 00:25:58,720
Speaker 1: sometimes you can't pick your neighbors.

541
00:25:58,800 --> 00:26:03,560
Speaker 2: Yes, so you can. How does that work? You know?

542
00:26:03,680 --> 00:26:07,000
Speaker 1: What kind of research can a buyer look at if

543
00:26:07,000 --> 00:26:09,159
Speaker 1: they look at in the community, do they drive a

544
00:26:09,200 --> 00:26:13,400
Speaker 1: different odd time, different routes to and from work? Talk

545
00:26:13,400 --> 00:26:17,719
Speaker 1: about that process before our recommendation to anybody listening before

546
00:26:17,760 --> 00:26:20,080
Speaker 1: you close that deal, what are some of the tips

547
00:26:20,080 --> 00:26:22,400
Speaker 1: they should do if they're interested in buying the home.

548
00:26:22,560 --> 00:26:24,080
Speaker 2: Well, first of all, as a relative, we have to

549
00:26:24,119 --> 00:26:26,600
Speaker 2: be very careful. We don't discriminate, right, Okay, we have

550
00:26:26,640 --> 00:26:30,840
Speaker 2: what's called Fairhousing Act, so there's your protected classes. And

551
00:26:30,880 --> 00:26:33,200
Speaker 2: as a relator, we want to be as neutral as possible.

552
00:26:33,240 --> 00:26:37,040
Speaker 2: Our job is to help them make the right investment

553
00:26:37,080 --> 00:26:39,560
Speaker 2: of the house. Okay, it's really this. There's really the

554
00:26:39,640 --> 00:26:43,600
Speaker 2: buyer's job to do their due and look at the neighborhood.

555
00:26:43,680 --> 00:26:46,080
Speaker 2: So I tell buyers all the time, come back, come

556
00:26:46,119 --> 00:26:49,719
Speaker 2: back tonight, and come back over the weekend. Drive the neighborhood,

557
00:26:49,960 --> 00:26:51,720
Speaker 2: you know, stop and talk to a couple of neighbors.

558
00:26:52,200 --> 00:26:54,240
Speaker 2: You know, because I do what I do tell people

559
00:26:54,240 --> 00:26:56,560
Speaker 2: all the time is you know, focus on the house,

560
00:26:56,600 --> 00:26:59,920
Speaker 2: but also look at the neighborhood because you can't change

561
00:27:00,080 --> 00:27:03,399
Speaker 2: neighbors and you don't move the house. Right, But but

562
00:27:03,480 --> 00:27:04,840
Speaker 2: you have to go out there and talk to people,

563
00:27:05,119 --> 00:27:07,760
Speaker 2: you know, you know, what are you looking for? You know,

564
00:27:08,080 --> 00:27:11,360
Speaker 2: there's websites you can pull up online. Every county has

565
00:27:11,400 --> 00:27:13,399
Speaker 2: it where you can look the school ratings. You go

566
00:27:13,400 --> 00:27:17,200
Speaker 2: with the schools. Unfortunately, relatoris you're really sustained to commenting

567
00:27:17,240 --> 00:27:19,760
Speaker 2: on those kinds of things. But you just you know

568
00:27:19,800 --> 00:27:22,240
Speaker 2: you want to give them, give them the resources. There's

569
00:27:22,520 --> 00:27:25,280
Speaker 2: plenty of information out there online to help that buyer

570
00:27:25,320 --> 00:27:27,840
Speaker 2: and make a decision. Our jobs are relators is to

571
00:27:27,880 --> 00:27:30,560
Speaker 2: make sure they pick the right properly in the right investment. Cool.

572
00:27:30,920 --> 00:27:34,320
Speaker 1: Hey DoD, thank you for coming on my show because

573
00:27:34,359 --> 00:27:36,400
Speaker 1: you know the information you're given, but also.

574
00:27:36,320 --> 00:27:39,240
Speaker 2: Sharing your personal story because you were challenged.

575
00:27:39,480 --> 00:27:42,400
Speaker 1: Yes, and somebody told you when you moved to Georgia

576
00:27:42,520 --> 00:27:44,679
Speaker 1: you were not going to make it, and you the

577
00:27:44,760 --> 00:27:46,520
Speaker 1: number one salesperson in Georgia.

578
00:27:46,680 --> 00:27:49,880
Speaker 2: Yes, sir, congratulations about Frank you come. No Money Making

579
00:27:49,880 --> 00:27:51,320
Speaker 2: Conversation master Class.

580
00:27:51,040 --> 00:27:54,080
Speaker 1: Thank you, Thank you for listening to this episode.

581
00:27:54,320 --> 00:27:56,880
Speaker 3: No need for you to do me a favor right

582
00:27:56,920 --> 00:28:00,560
Speaker 3: now to follow or subscribe to Money Making Conversation. It's

583
00:28:00,640 --> 00:28:04,640
Speaker 3: free and you can find it on the iHeartRadio app, Spotify,

584
00:28:04,960 --> 00:28:08,840
Speaker 3: Apple Podcasts, or wherever you get your podcasts. Please do

585
00:28:08,920 --> 00:28:13,200
Speaker 3: me that favor, follow or subscribe Money Making Conversations.

586
00:28:13,480 --> 00:28:14,040
Speaker 2: Keep winning