Ron Caruthers 0:00
Let's get to work. Gentlemen, this is the Make More Keep More Show. We chat about all things related to money and your money, keeping more of it, making more of it. And today, we got Dominic's friend, Peter, Dominic, I'm gonna let you make the introduction here. I'm going to sip coffee, stare off thoughtfully into the distance. And while Peter while Peter does this thing, Peter, nice to meet you. Thanks for Nice
Unknown Speaker 0:22
to meet you. Thanks for having me.
Ron Caruthers 0:24
Yeah, yeah. So as Ron mentioned, make more keep more show over the last few episodes. I'm actually lost track of what episode but we started this early March. And we actually Peter you get to be our first guest. Bringing on which is which is pretty awesome. And so what the whole point of the show is about ways to make more whether that be through sit more sales, driving more revenue in your business, keeping more of it through smart investments, tax choices, things like that was, which is Ron's expertise. And questions we get a lot seems like almost every week, we have some real estate questions. So Peter, and I'll let you pronounce your own last name. And like all the years, sure, I know how to pronounce it. But Peter is has been my real estate agent for quite a while now actually. And we he's helped us buy and sell homes help family members do that. And it's just really my go to resource for anything when I'm I got a question about a place. I'll text him, I see something and he'll tell me off. Do you want to stay away from that one? Or hey, this might be a good one for you guys. Let's let's talk about it. So we thought we'd bring him on this week to answer some of those questions. Because one big piece of making more money for a lot of people historically has been real estate. And there were questions around, you know, how do I buy my first place? We took some polls earlier in another episode. And and, you know, we got to people who don't own a home right now. So how do we get those people? How do they buy their first place? How do you buy your second place? How do you buy your fifth place? You know, because then it starts to get into a whole nother realm of when you're really into serious investment opportunities. And so welcome to the show, Peter Peters. located where I'm at up in love. I'm actually in Oceanside. Not too far from Ron right now. But we are we both live up in the San Pedro Rancho Palos Verdes area up in LA. And he covers all of what the South Bay basically for for Los Angeles is that and then prior to that new he may dig into this turns out Peters quite the entrepreneur as well. He's also run his family's travel business for quite a long time before he got into real estate still does that kind of on the side. So he fits right in with our with our show stuff. So welcome on Peter. Good to have you, man.
Unknown Speaker 2:38
Yeah, thanks for having me. I listened to an episode I think it was two weeks ago. And it was it was enlightening. I enjoyed it. And then I was actually pretty honored to get the get the text from you that you wanted me to be a guest on and here to provide any information, I can share some knowledge on our industry, I'll leave, leave all the stuff you guys do to you and just kind of fill in where I need to. And I appreciate the opportunity. So yeah, thanks. Yeah,
Ron Caruthers 3:05
just the sock comment bought by if you haven't figured out how to buy your house, buy your fifth one, you're probably if there's truth to that. But you know, actually, it's funny. Even the people that I see buy a lot of real estate, do you make some mistakes along the way? So the goal here is to help you avoid some help us avoid some of those things. So Ron, I don't know if you want to you want to jump into maybe talk first first home buying or you want to talk about the not really into that and then get into it. We'll jump on to the tax implications later. Peter wanted to line them up for why don't you tell us like right now we get a lot of questions about people wanting to buy their very first sell. So in this market, these interest rates, what would you tell someone? Well, listen, I
Unknown Speaker 3:46
mean, I work with quite a few first time buyers over over the years that I've been doing this, and I hate to say it, but like step number one is getting pre approved, right? I mean, there's no point to look at homes unless you know what your monthly payment is going to be. Can you feasibly afford that is that in your realm? So that's my number one step for everybody. Sure, it's great. We can go look at homes. But the bottom line is this even in a price category that you can buy. Listen, I'll talk more on like the hyperlocal level. And you know, maybe this will relate to everybody. But you know, my focus is really the South Bay. And that's what we've been doing for 10 plus years and my business partner and I this is where our bread and butter is per se. But let's be honest, the rates have jumped over the last couple of months. So there's a little bit of hesitancy, I would say from some buyers about where this is heading. What that means, look in the big scheme of things, any listing I have now I won't even look at an offer unless it has a pre approval within the last two weeks or 330 or 30 days minimum because most people who got pre approved at a 3% interest rate and now let's say it's it's hitting five, it's a big it's a big difference in what their monthly payment can be. You know, so the big thing is just if you're actively buying if you're actively looking and wanting to buy, you got to stay on top of your pre approval, you got to make sure that you can afford what you're looking at. There's no point of wasting anyone's time in the sense of getting in an offer or or let's say getting an offer accepted, and then you realize it's kind of out of your budget, you know. But, you know, back to first time buyers, let's be honest, like rents have gone crazy, you know, and people just can't believe what rents are. And you know, I'll be the first one to scratch my head sometimes here locally when I see, you know, in San Pedro or in Palos Verdes, or whatever, even when I see what rents are in Redondo Beach for a one bedroom on the beach. I mean, we're talking, hitting 3000 bucks a month, 2500 to 3000 bucks a month. So, so crazy. Sure, sure. So you know, a lot of people are, their number one thing is I'm throwing away money at rent. But look, the but I, what I always tell people is you don't have to have a lot of money to buy a house, I think the biggest thing is just feel comfortable with what your payments gonna be, you know, and if you're making good money and can afford that, that's where it is, you know, I mean, the reality is the bank's giving you nothing for your money on interest, if you're just keeping it, they're waiting. And I'll tell you, I know, tons of guys that are just in women that are just sitting with money in a checking account doing nothing, you know, and the bottom line is, and I'll let you Ron jump on to what those benefits are buying and what you can write off and all of that. But you know, the reality is money sitting there and paying 2500 bucks a month or 3000 bucks a month really doesn't help you, you know, I mean, you're going to be sitting there after two years and realize how much money you've kind of wasted. In that sense. So is the market right? I get that question every day like is right now the time to buy is it is the reality is we live in the South Bay. And there's this there's not enough homes, and there's an there's plenty of buyers out there. So sure, the interest rates may cause things to slow down that says per se, we're not going to have that level of activity. Maybe we had back in November in December, where things were just flying in three days. But the reality is that there's still a ton of people out there buying and there's not enough homes, you know,
Ron Caruthers 7:07
so. So I think that's an interesting couple of interesting points there on you. And I had, I don't even think we actually debated this, per se, as we were a little bit on a different side. I said, Hey, listen, if you can buy a house, don't wait. And your response to that was well, let me disagree with that. And say it's got to be within your budget. And actually, I think we're probably both on the same page there. So if I was joking with this guy, go ahead. No, go ahead. Not Finish. Yeah. So the interesting piece about it is, is that if we're going to sit there and talk about, you know, getting pre approval, then get your budget in line, and I think we're I feel and Peter maybe you can weigh in on this too is, if it's within your budget, don't worry about the near term market conditions is my feeling like if I if I can afford a $3,000 a month mortgage, or you know, whatever, and I want to go ahead and buy the house, just buy the house, you may have to sit in it for a couple of years to weather a market storm if they're, you know, because there probably is some sort of adjustment coming. But that's one thing. The other part of it is is I do think and you told me this yesterday, like man, I really covered the South Bay, is that going to apply to your audience, which is all over the nation all over the world? And I think it does, because what you brought up, you know, we all know the old real estate adage of like, the, you know, location, location, location, well, it's not just having an ocean view or the cool, nice school district or whatever. It's also being in a location where there is less inventory than there is demand. Right? It's just good old supply and demand that we all learned in some form of economics class at some point or another so I think the one thing about like buying in the South Bay Well, prices are nuts. There's a finite amount of housing and there's no more land other than the article I read the other day where they're like we should tear down golf courses and build more land for me, John, yeah, whatever. So but, but that said, it's like I think that there's two pieces of it. I don't know. Those are my two takeaways from that opening kind of you hear is have a budget and then you know also be careful where you're buying I would just add one other thing Peter before you jump back in my only comment on that is because I've lived through two major housing market turndowns what I benefited from one when I didn't lose arm but I didn't went on and so all stocks go up if you can hold them long enough right? Except maybe Netflix and Disney right now with what's going on over there. Yeah, but Dominic someone agrees with you by the way you don't golf course. And that comment just got three light four likes. I mean, it's given
Unknown Speaker 9:57
Yes, I've got I got an audience. I'm You're counting how many ounces to put on the golf course
Ron Caruthers 10:02
admitted, admitted Dominic gets used secretly going in? Well, one. So I'll tell the story real quickly. My house my very first house that I bought, I paid 263. For in 1993. I dumped somebody into a solid for about 600, a little over 600 in 1999 or 2001 of those, one of those. But the person before me a couple of years, in 1989, or 90 paid 650 for that house. So the house dropped in value enough that I could pick it up for less than half. This is California, this stuff. So one town and from that from the beach town, we're Dominic's sitting right now and basically one town in from where I live right now. And even with a pool and added square footage and all that stuff. It didn't quite go up. Now. If I'd wanted to stay there, we did fine on it. But the point is, over the long term, yes, real estate will always go up. But over the short term, it may not now my other house, we picked up for 1.3, I think right before and we added again made it nice. It went up to about two and a half million, but then it dropped back down to about I think we sold it for 1.6 When we were getting divorced. So the only thing that I would add to what Peter's saying. And what you guys are saying is simply, hey, just make sure if you're finding a place that it's a place you like, not a place that you are desperate to get into. Just to have something so you're not quote throwing away your money on the rent. And secondly, do think a little long term like, Okay, if I don't want to live here, if this doesn't have the school districts, we don't have kids yet, but in five or six years, you know, will I want to live here at the very least can I rent it out and make my mortgage payment? And you know, cover that while I go get my next house? And I understand Peter, one of the things that you do is you help a lot of investors buy places as well. Yeah, that's correct.
Unknown Speaker 12:09
That's correct. Yeah. And, you know, multi multifamily, I would say and, again, and kind of bringing him back to the local level. You know, in LA City, we have a thing called LA City rent control with a lot of people from outside don't really understand what that means. But that's a control on what you can raise the rent annually. So there's a lot of properties, let's just say in town that have relatively low rents. With the moratorium that took on the last couple years, you are unable to raise rents or evict people due to this COVID moratorium, I would say LA city still kind of moved along in the sense of investors still buying because they wanted to park their money someplace and have some return. But the returns aren't as great as what they were, let's say pre COVID. The reality is, when you're dealing with rent increases, you can only do it a certain percentage, which is back to 3% annually. And that still hasn't been lifted yet. So that will probably start next year. But you know, people who are investing in multifamily, they got to understand the dynamic of what we were in the last couple of years and a lot of people had COVID relief. The first question, any multifamily property I sell is the agent calls me and says is there anybody who has not been paying? And that's because the reality is you can't do anything about that person. So you're telling me about it as a loss right off the bat? And if your answer is yes, well, you know, that kind of starts on a bad note. And I'll tell you, there are properties where there's people who are not paying rent due to COVID relief or COVID issues. And at that point, you're starting with your numbers are skewed right off the bat.
Ron Caruthers 13:42
So let me ask, I have a question on that. By the way, anybody just tuning in, this is the make more, keep more. I'm wrong for others. That's Dominic of Rubin's advisors. And then our guest today is Peter, Allah to give out your contact stuff whenever you feel like it, Peter, but that is that what is the status of that COVID relief in California or specifically LA County? Do are people having to pay their rent now? has that gone away? Oh, and you've even got a Hello, Peter, with a bunch of wavy faces. Peter has a fan, right? What is the status of that? Peter? Don't get distracted by your fans. We'll talk later. What's the main goal? For you, Peter?
Unknown Speaker 14:30
It's all just kind of like everywhere. It's kind of I would say it's slowly easing. I would say I think in LA City, they announced that starting next year, it's going to be lifted. Of course they have the rights here. Yeah, I don't see anything. I think they extended it because what they said is coming to a certain point and then there's still a grace period.
Ron Caruthers 14:51
For people up there, man, but the
Unknown Speaker 14:54
reality is that, you know, we're moving out of it and I think that rents when Ever a vacancy does happen in a building, which, you know, if that's what can happen, then you can obviously jump your jump your rent to market rent at that point. So, you know, if you have somebody who's been there and you've only been able to increase them for 4% annually, you can imagine most of the time that's not keeping up with what the rates of rent have gone to. So the reality is that you're almost banking on a vacancy so that you can get it at market value. So that's, that's where that's
Ron Caruthers 15:27
okay. Yeah, it's California stuff. You know what, Dominic? I'm moving to Texas. I'm gonna buy the house next door to Joe Rogan on the live between Joe Rogan and Elon Musk. Yeah, there you go. Well, Elon Musk is live in everybody else's living room, so maybe he could come and crash in my house. He can come and actually have probably, I think he might be a little weird. I might kick him out after a day or two. Like, look, man, you're too You're freaking me out, dude. I'm a fan. I'm a fan from afar. Alright, so let's let's talk about let's go back to our first time homebuyer, let's presume you've gotten, there's some neat things that I know like so for instance, my wife's brother, who you also obviously know very well, Peter, you know, has bought some houses a number of houses and things and it's surprising to me about some of the things that like the as a first time homebuyer, the amount of money that units you need to come in with isn't as much as probably people think, is what I'm hearing is that it's like accurate like what's what's kind of like what should i budget What should I configuring I figure I cover the monthly nut let's say that's that's taken care of my next step is figure out how much money I need to save up to put a down payment. What does that is there some first time homebuyer cool stuff for those folks? Yeah,
Unknown Speaker 16:42
I mean, listen to there's always the the FHA that three and a half percent down is
Ron Caruthers 16:48
kind of the most classic
Unknown Speaker 16:49
one, I would say, I think there's going to be a shift, you know, and I talked to some lenders recently, and they're going to get creative now on because of the jump in rates. And I think you'll probably start seeing a little bit more of maybe some variable rates that people will start to consider, you know, which obviously can change after five or 10 years. But you know, everybody's very stuck in the sense of it, which is fine. It's kind of the way we're kind of our mentality is the 30 year fix the 30 year fixed, right. And that's kind of the reality of what most people when they're buying a home, they're buying it on that rate. But yeah, first time buyers, three and a half percent is is your classic FHA first time buyer. Obviously, you know, the idea there is there's always a PMI, which is that property insurance that that goes along property mortgage insurance. So the idea is to get in, get it to something you can afford monthly, and then from there, hopefully, you can build some equity and over time, then you can refi that and then remove that PMI from your property. I mean, that's, that's the goal for people who are buying with a first time buyer with three and a half percent down is to kind of get in there and build some equity, hopefully, the market continues to grow in the right direction, and then you can hopefully refi and, and show that you have enough value in the property to to to, to refi that loan, you know,
Ron Caruthers 18:06
if I can jump in for a second, just for anyone who's not totally familiar with what Peter's talking about. First of all, it's a common misconception that you need 20% down to buy a house. Because that's kind of what gets put out there. You can buy with a lot less like Peter was saying with three and a half percent down on an FHA loan. Peter, what are the limits on an FHA loan? Like how much can you? How much house can you buy, and still have three and a half?
Unknown Speaker 18:37
I don't know the total amount I got it, I'll have to get back to you on that and give you the exact
Ron Caruthers 18:41
look amount on that that next step for you guys. But if you put less than 20% down, then they're going to charge you a little bit more insurance. That's stands for I think private mortgage insurance, basically, because they're going look, you have no real investment in this house. So we want to protect our investment, we're gonna make you pay an extra insurance that if you walk from this place or foreclose, we're at least made whole, why did they do that in case the house has gone down and is now worthless. So people get really scared of that. But I would argue, hey, it's much easier to get into a house with three and a half percent down particularly for young or starting out or taking care of your other investments. And people also get really scared. You know, if you follow the Dave Ramsey, or some of the other legit gurus out there, they're like debts, you know, the borrower is a slave to the lender, pay that thing off your 15 year mortgage, I would argue, do what you can do to get in the house. That's reasonable. So don't be scared of a variable rate loan. Do not definitely never take a 15 Take a 30 if they'll give you 40 Take that I'll explain the math behind that later. But private mortgage insurance is if you have less than it's one 80% down. It's an extra fee that's gonna get tacked on there. All right. All right. Keep going, y'all. So now we know why apparently, when the computer scan club is that they got to got her or Well, skerries comics into their first home. So congratulations I shot. Yeah. And I think that question that just swung by here. i There was a question about FHA a minute ago, and I think we mostly covered that there was quite question about, maybe we can touch on, is there a credit score limit, usually on FHA? Or is it have to be above 700? Or where do you see it kind of being flexible? No, I
Unknown Speaker 20:38
think there is a limit on that, too. But, you know, the reality is that it's going to and, you know, that's the other problem is, you know, I think people forget about their credit score going, going back to getting pre approved, you know, you forget about that, and the importance of that, but that does affect rate and what you can get, what you can ultimately afford to is that, because they look at all those liabilities as far as getting you pre approved.
Ron Caruthers 20:59
So, yeah, I would, I would just say one other thing, guys, because I see this happen over and over and over again, when you were in the pre approval process, and you're trying to buy a home, do not freaking buy anything on credit, don't go to the Home Depot, because this happened. And the Home Depot was like, Hey, man, you get like 20 bucks off your order, if you open a Home Depot credit line with us. And one of my clients was like 20 bucks is $20. Hell yeah. And then his loan got turned down because like, sir, you you had your you were pre approved. But you opened another credit line, and the untold amount of grief that that client went through, to try and close that credit line down and get him to re approve his mortgage over like $100. Drill was foolish. So just that's kind of my mortgage tip for the day. So yeah, I'd echo that with I know somebody who applied for a car after they'd gotten pre approved and bought a brand new, you know, BMW at $1,100 a month payment. Yeah, tell you. Yeah, and it's kind of big trunk. Some other sneaky ones that have popped up over the years is old tax liens potentially, or some form of like, you owe the IRS money somewhere along the line, and then you got to apply for house, they will find that those are ones that there are old medical payments, I see those ones pop up periodically referred stories about like somebody's like some doctor from five years ago, but you know, you know, Hitman out on them for their unpaid medical bill of 50. The all sudden, they can't get anything, so you got to be real careful. So definitely watch that credit. Alright, so and what and one person hold on, we'll come back to Peter in a minute, one person went through and I mentioned like, hey, there's a huge difference if you're self employed versus an employee. We've got Peter on. It's kind of our real estate expert, if you want to speak to that. Great, but, but I really wanted to focus on the real estate side. And I'll make sure we get a mortgage guy on here if you don't feel like that's in your wheelhouse there. Yeah. Well,
Unknown Speaker 23:05
I think that's changing so much right now, too. I feel like that's a whole nother aspect of it. So I think that's probably a whole nother individual that maybe can address some of the more in depth questions.
Ron Caruthers 23:16
Yeah, because you go into self employed and trust me having been self employed for 31 years, I feel your pain, because it's a whole different ball of wax heater was most common. What are the most common mistakes that people make when they're looking and or buying their first home or any home for that matter?
Unknown Speaker 23:36
Well, listen, you know, there's a misconception, like, you know, once your offer gets accepted, like, you know, and I hate to go back to the first time buyer, but even individuals who have bought second or this is their third property, but like, you know, there's an inspection period, there's a whole, there's a whole process and buying a home that we go through. So you know, a lot of people have cold feet, which is normal, and they get nervous at that point when they have to write an offer. And then so I've had people I call them and say great news, your offers accepted, and they say, Oh, my God, like they almost have a panic. Yeah, right. Like they probably in the back of their mind, they didn't want it to get accepted because they're nervous about what's next. Yeah, what I tell people and you know, we walked through these processes and the evaluation of a home and you know, what goes through that process of a home inspection and checking everything on the home and the appraisal and getting your loan approved. The reality is you have time during that inspection period to find out what you need to know about this home. And you know, that's a point where we can renegotiate price we can renegotiate any credits, we can report renegotiate repairs to be done. So sometimes, you know the initial numbers as you can see, you'll see a property goes into escrow right away and it's probably full price but then it gets sold for less well, there's obviously a process to get to that. A lot of buyers are very nervous about that time. As far as what They have to go through and what. But that's kind of the idea of having a real estate agent. I mean, we're providing a service for people to kind of walk them through that. And there's a lot of great agents out there. There's a lot of great people who know that process, I would say, you should always have somebody who knows a little bit about, I wouldn't say use the general word construction, but you've got to have an understanding of what things cost nowadays, too, because I hate to say it, but what my parents paid to change a bathroom out 15 years ago, I mean, those numbers are gone. But sometimes buyers in their mind think I can remodel this bathroom for 2000 bucks. And the reality is, go to Home Depot and pick up a two by four, you know, and you'll see what that costs, you know, so, you know, the cost of goods as far as construction, you know, the service industry as far as construction workers and what that cost. I mean, the reality is everybody's salaries are increasing in that industry, they're making more money, but somebody's paying for that, because the demand is there. So you know, you got to know what something's going to cost to remodel if you're going to get into a property that needs work. But not a price from 10 years ago, you gotta get a quote from somebody today, because I think people are, are a little bit sticker shocked when they see what things cost nowadays, as far as remodeling a home, and that process, going back to kind of the inspection period, you go through that for the first 10 or 715 days of an escrow. And then that's when you figure out what you need to know about the property. So
Ron Caruthers 26:32
I got actually can tell you, sorry, Peter helped us navigate on our house. But before I do that, just for those of you joining a bunch of people just join on, this is the make more keep more show. My name is Dominic, I am typically the make more guy and Brian Carruthers in the gray sweatshirt, there is the Keith Moore guy. And we have Peter on today to talk about real estate, real estate investing, getting into the market, I'm gonna ask him to break out his crystal ball here and a little bit about the market in a second. But the goal of this show is all things money, help you make more money, whether that be you know, through investments through your sales through whatever, and then keeping more of that money in your pocket, not necessarily giving it all to Uncle Sam setting yourself up for early retirement if you can. And real estate is a big piece of that. So that's why we have Peter on here. So one of the things that Peter just mentioned, I mean, it's such a great point that I do think that first time homebuyers don't talk to things about it, actually, that inspection is super critical. And a good friend of mine was looking at a house a while back. And they were super excited about the house got into the inspection and found out like they did they want it. They're the you know, a homeowner was pushing, they're like, get some of the inspections waived and, you know, do all that type of stuff, which I was like, Oh, that's weird. Why are they pushing so hard for that? Well, it turned out, you know, that they did the radon inspection, they didn't want to do that. It was like 10 times the normal limit inside. They had all sorts of other issues. And the thing that I saw was for them to go, Well, you know, maybe we could just have this all just fixed. It's okay, because they fell in love with the house. And I think first time homebuyers maybe is take those inspections seriously, don't necessarily fall in the hat fall in love with the house. If you don't know, you know, and don't Don't Don't get yourself into a bad situation that you can't afford because you might already be stretching yourself with the mortgage payment. But I'll tell you a real story with Peter helped us buy our house that we're currently in and when we went in there you know Yvonne, his cousins of construction guys, we haven't we have somebody come talk about it. We had him walk the house. We knew there were problems with the house, but the view is unreal. So it was worth it to us. We love the house, we knew it would take a lot of money. So we actually had him write up a quote Peter actually negotiated with the homeowners to say Hey, is it okay if we use this person the other real estate agent was like Yeah, I know him. That's fine. He can he could be the construction quote, ran up a quote, we had him write it up for Worst case scenario, like if we find this as even worse, you know, then we think then how can you write that up and Peter got that dollar for dollar removed off the cost of the house, the ultimate cost to us was about half of what the quote was so we you know, we netted out positive on that situation got into a house in a tough market at the time and expensive market obviously, it's it's crazy now the house has almost doubled in value, but the but it allowed us to get into something so that working with a real estate agent like Peter, you know, is so important and doing that and I think well that was my wife who just posted that she's sitting five feet away from that question and it's gonna go like but I do think I that's a great point is you have to treat this like a business transaction like anything else. You can't get emotionally tied to it as an investment. You know, like if you're buying some stocks, I've seen people buy some stocks get emotionally tied to something and then you know, ride it to the ground. Got to be careful with that. I don't know what your thoughts on that run. I mean, do you the treat this like a business transaction? Keep it. Keep your look, I'll tell you guys out of it. First Well, hey, Nikki, and hey, lovely. See JP, I see you guys out there. But Oh, and hey, Alessandra, and we'll take some questions in a moment, Yvonne, if you can just pull up any of those that scrolled by, but look, I would if I had it to do all over again, not only would I treat it like a business transaction, I would turn around and buy a rental before I would actually buy a place to move in. That's me personally. And, and I would treat it just like a business transaction in the sense that I would buy the smallest home that I could comfortably expect to stay in for a decent period of time. Meaning if I knew I was going to have two kids, I make sure and I didn't have them and make sure I had a place to put them. But I wouldn't over buy and try to try to get more square footage than I was actually going to use because I had one of those houses. You know, like, don't be me that that $2 million house. We had rooms. I lived in that house almost 10 years I never stepped foot into it was just stupid. Now the house was awesome.
Yeah, I had an outdoor kitchen, I had a pool and a hot tub and a fire pit. I liked the house. But it's someone else just mentioned here that they house hacked their first house, which is they bought a three bedroom house rented out to the bedrooms. That's a really smart way to do it. But yeah, I would absolutely treat it like a stone cold business thing and not get in love with anything. Just be really careful about any of that. Do we have any other questions that Ivana has flagged over there for Peter or for either of us? Or any good comments that we should repeat back to everybody? By the way, is I know what apparently since Peter has a fanclub. They the people need to know Peter, are you single?
Unknown Speaker 31:52
Oh my god, yeah, no, I'm married with two kids that Beth was up since 530. This morning chasing girls or little daughters around the house. So
Ron Caruthers 32:01
you have that kind of marriage. Available in the DMS. Your wife allows it tonight to judge his wife had it cut, you know, like my way. You don't want to mess up these ladies. Man, I'm trying to give the people what they want. They want more Peter, we're gonna give them more paper. So I
Unknown Speaker 32:26
just want to kick off with just one more thing in the sense of like, if I'm putting myself as a listing agent, right? So if somebody comes to me, and I'm the listing agent, and there's another agent coming with a buyer's request for repair, I just thought I'd add this really quick kind of knowing what things cost as well as gonna head back to that. You kind of know, then if the request for repairs legitimate or not, right? So I've had people come to me and say, I don't know I need to replace the roof. I want $40,000. The reality is we know A Roof Cost $15,000. So it's people use that as an approach to obviously try to capitalize on things. But when you have proper representation and having an agent represent you, who also knows what these things cost, they can guide homeowners through there. I hate to say it, a lot of homeowners don't know what's wrong with their house until they get into escrow and all of a sudden, something hits them like your soul, your sewer line is cracked. Well, you know, those are big ticket items. So the reality is, how do you defend yourself against those things? As a homeowner, that's a whole nother aspect of selling. But you know, having an understanding of the cost of construction is very important in real estate. I think, like I think somebody here had mentioned getting three bids. 100% You know, and I'm not I'm not saying you go with the cheapest guy because that's not always the most important thing. But the reality is, getting multiple bids really then tells you what the market is telling you what that cost to redo that repair. Right. So.
Ron Caruthers 33:58
All right. Fair enough, man. Good lesson there. Hey, we got a couple of questions that came in on my phone that I can't tell if you guys can see or not. Yeah, but raise Amoco look, check this out. I can even throw it on the screen there. What? Is it better to get an FHA or conventional loan if your credit score is above 700? I know you're not the mortgage guy. But do you have any quick thoughts on that Peter?
Unknown Speaker 34:24
Obviously FHA is for first time buyer only. Right? So that's okay. You have to be I didn't know that. So that's that's that that weeds out? Anybody who's who's doing anything else. But
Ron Caruthers 34:35
first time buyer and you have the choice, which is better is one better?
Unknown Speaker 34:40
I think you'll see what your monthly payments going to be based on that PMI we talked about right? So I think you'd have to again go back to what your monthly payments gonna be on that so and then you'll
Ron Caruthers 34:50
so check them both out? Yeah. And then we got this one, which is I can answer this one. Is there a difference between working with a mortgage lender versus a mortgage broker? So I think what you want is someone that can work with multiple banks, because particularly if you are self employed, having more options, because one bank may hate you, but the other bank may love you. That's my understanding. Peter, is that correct? Or Dominic? Is that? Yeah,
Unknown Speaker 35:14
and I would say different different brokers specialize in different products, right. I mean, I've noticed over the last five years, some of the big banks, we call B of a Wells Fargo, they've been really competitive on the jumbo market. And then, you know, you'll get the local broker who's very good on the local level, as far as getting maybe a more aggressive rate. So I think the bottom line is kind of it's, I hate to say it's relationship based, too, you know, you want somebody on the other end, who's going to make sure they close the deal for you and help you through that process. Again, this is not a knock on B of A or chase, or Wells Fargo at all, but you do almost become a number for them. And when you get through that process, you got to make sure that that person you're working with is going to guide you through because on the other level, if you're working with somebody who's an individual broker, in that sense, you know, they're really there from start to finish, you just don't want to get lost and get into escrow. And all of a sudden things fall apart, because something's not working out on their instincts, right? Yeah, great point.
Ron Caruthers 36:15
I worked at Citigroup for a long time. And we did a lot of mortgage lending, pre Bob, last bubble. And, you know, I think you it's hit and miss, you're gonna find something amazing in there. Whereas with a typical broker, because they're working with different relationships, and they're may be self employed, or in a smaller house, like they better they gotta get every one of those deals right, versus they got enough volume to not worry about it. We had a couple of questions that popped up, did you? I think one of them was how do you choose an agent? I would imagine that follows the same line. I mean, is it? Do you just choose somebody who you feel like you need to work with? Or does it matter how much experience they have local knowledge?
Unknown Speaker 36:56
Well, listen, I'm Dom, I'm gonna kick this give you a little bit of street cred right here, I listened to you a lot in the sense of some of the things you call us in. You know, it's not all about just selling yourself all the time. And I hate to say it, but I'm, I'm not that card salesman, you know, I really try to build just friendships and relationships with people. And I guess that kind of comes from coming from a family business of 47 years. And like, my dad always mentioned, like, You got to be able to see that person at the grocery store and know that you did the best you could do for that person. Right? So are you know, there's a lot of agents out there who love the self promotion, who love all of that. And that's all good. I have no problem with any of that. But I think the reality is you want to work with somebody who's gonna be number one. Available. Trustworthy. Right? And, and listen, volumes important, right? You want to know that they're doing something in the in the in the local market and have sales because that, obviously, is is important to know what type of business they're running. But the reality is, most of its kind of referral based, you know, you kind of come to business because people refer you and trust you, and then they recommend you to somebody else. And you know, 80% of what our business is, is referral and past client, you know, so I can't I think that if you can see that happening with an agent, and whether that's somebody who's local, I'm all about local first you got it, you can't get somebody from outside and tell you what is happening in that neighborhood in that street. And what's been the sales there? So a number one question is how do you choose somebody will find somebody who's who's who's at least local, and then has some sort of some sort of, I guess, background in what they're doing there? You know, so
Ron Caruthers 38:43
Well, I saw to give you a horror story on that one, like least I think I may have told you about this, but I was helping one of my clients, I was working with them on some stuff. And they happen to be trying to buy a house out in Florida. And the agent there was relatively new which she was sweetheart, I mean, really tried hard, took them to a million different houses. It's a tough market out there. And they got into escrow on one of them. And she completely forgot to provide them the HOA rules. And they they got him thankfully, like hours before the contingency expired. Because she just forgot to send them she'd never done it before. She never thought about the HOA rules. Well, it completely drastically changed their outlook on the house because the HOA rules made a difference on some of the remodels they wanted to do were not allowed in the HOA rules. And they literally if they had gone past that time, I mean, I'm sure there might have been another way to get out of that house, but they safely only had hours left to get out of escrow, to read like a 75 page, homeowner association rules. And that was just pure 100% mistake by a rookie right real estate agent who just ever been through that before. So I think yeah, it's that local knowledge if they've done a few transactions and you know, you got to be careful Don't even if they're rookie, make sure they're backed by somebody who is it right? Yeah, we all by the way, I will add something that's a really important point is find out if there's an HOA, because HOAs are seriously some of the most terrible people on the planet. Because it seriously attracts the totalitarian aspects of, I mean, seriously, if you want to go i It's a meme somewhere. It's like if you want to go, I forget the way the memes worded. But if you want to go find out how truly awful people are, or something like that, show up at a homeowner's association and try to talk rationally and respectfully, and see what happens. So part of the reason like I've had people post, like, Well, I heard you should never live in a neighborhood with, you know, power lines. It's like, look, my neighborhood is, you know, 5060 years old. But we don't have a homeowner's association. And that's a huge deal for me, because I don't want anybody telling me now, look, you know, we got a couple of neighbors that painted their house, some weird colors, whatever, man, you know, for me, that would be a deal breaker is having to deal with those people. So that's not a big deal. By the way, let me see JP wrote, also make sure for whoever you're working with that the personalities match. Oh, yeah, for sure.
Unknown Speaker 41:23
That's a lot on the lending side, too, because you got to now disclose a lot of your financials to people and you got to like make sure that that so when people come to me and don't have a lender, I really try to match them up like that personality. To me, connection is very important on the lending side of things just as much as it is on the real estate side of things. But that was a great point. But that
Ron Caruthers 41:41
but that's a big deal. Like she was mentioning. I'm assuming it's a she with the lovely though. Yeah, apologize for assuming your gender if you're not lovely. CJP. But yeah, she's like, I'm a sort of aggressive my guy was super gal was super laid back. And that obviously would not work skin. What's the stuff? Do we have any questions over there, Dominic that we didn't get? Yeah, we have one. That was kind of an interesting question. I don't know. It's a fascinating one to me for because we don't see this much in LA, let's be honest. But somebody said, Would you just say would you build your house versus trying to buy one is your first house so you don't have to deal with all the remodels and stuff. I mean,
Unknown Speaker 42:20
property to buy out of this one I'm handling. I've done it two times myself. So I'll tell you right now what that's like, but you go ahead, first down,
Ron Caruthers 42:27
we built we built a semi custom. And it was an absolute. I won't say disaster. But here's what it was. I had no idea of what we were doing. And so when you start to think and the contractor comes to you and is like how high do you want the island in the center? How many outlets Do you want? Where do you want them place? Like? Do I know like, I don't know, man, just put them where they're supposed to get. I don't know man put them the normal height. And it was every little decision with steroids Gray, like, Oh, we're gonna do this. We're gonna get it exactly what let me tell you what happened. I freaking hated this house from the moment I moved into it. Because let me tell you one other thing that this dickhead builder did that he didn't show on paper. But really the just the whole experience to me just sucked beyond belief. What he did was he tried to squeeze in. This was the lead. When was this like early 2000s. The market hadn't really crashed yet. If you guys remember in 2000 is when the.com Bust hit the market was down. And in San Diego we had a bunch of Quillian errs, we call them who were Qualcomm. Qualcomm millionaires that had all their money. Hey, I'll see you later. If you come over, you're gonna be on camera. Alright. Anyway, so okay, the chickens still out. I'll take a listen. Anyway, um, so what happened was, none of my a lot of my neighbors were from Qualcomm. So they're stuck and crashed, so they couldn't finish their places. But what he did that you couldn't see on paper was my first story. He built the house next door to us on a pad that was 10 feet higher than ours. So their driveway wrapped around 10 feet higher my entire house. So when you had a first floor bedroom, you looked out to a wall that he had created. Now look, I realized that's not going to happen to everybody. That was just, I would have breakfast at my coffee neck and look up at the neighbor's transmission to their car that they're parked alongside of their house. So minefields suck exceptionally hard. By the way, the market, the housing market was still going up. I made money on the deal when we sold it like less than a year later and got a better house that we were living in. But for my personality where I have other businesses to take care of. I found it to be an absolute shit show of decisions that I own. mentally wasn't you know, I didn't enjoy the process, not even a little bit, I would seriously rather go for 365 days of colonoscopy back to back to back than ever tried to build a house to get. Well, I love the process and it was so much fun. Oh, by the way, after having a morning colonoscopy, I would love to go into the dentist and have him do some work on my teeth without anesthesia. So there you go. I want to say, Honey, I built the shed and you know you got well you both oh actually Peter you haven't seen it but Ron's been in it. I mean, you got to see my little studio I like to call it studio rather than shed Sure. But for the purposes of like, you know, LA City we call it a shed for rich on you and tell him it permitting reasons my silence can be brought by honest cousin becomes mirrors and one good. I mean, you know, it's really so anyway, so, but yeah. It's funny how like that room because I just designed the whole thing myself because, you know, we had a couple guys come in and build it and whatever. I had to like, I have Yeah, the outlets are on the wrong side of the office, the place I mean, I don't even know that was a 10 foot by 12 foot little shed. And I put all the outlets to the wrong places the windows the wrong places, the door the sides, because I fancy myself a designer and I'm not so yeah, Peter. So Peter, do you have enough on the side of it was I just want to just want to say that the rent Williams says that dentists are awesome. And I would like you guys all to know that dentists are the hardest partiers. If you guys did not know this, the dentists love to get down. So anyway, you know, I've done a star off so well, what would you say about building a house? If you've done it twice?
Unknown Speaker 46:53
Well, listen, I there's no, there's no way around it those TV do you know DIY shows have become the best thing on TV, right? And I hate to say it, but you look at those things. And the show's done in 30 minutes. And you're like, I can do this. This is no problem, right? I mean, I mean, get. Here's what I tell everybody is it's gonna take you double the amount of time and double the amount of money. And if it's better than that, then you just if you're lucky. Yeah. And, and they're like, no, no, I can walk again, go to Home Depot and walk down the aisle and tell me what it costs to buy anything. So number one, I think the sticker shock is is is that but you know and building in different cities? God, I can't tell you like the rules and regulations in LA City. What that is compared to building in Rancho Paulo. I mean, it's you got to know somebody who's doing it locally, because the rules are so different everywhere. The permits are different. This is different. So yeah, sure. Let's go throw up a two story house here on this doesn't work like that, you know, so there's so much that goes into that whole process before you're doing it. So yeah, I mean, good and bad. I mean, sure. You get the product you want. Yeah, it's it's it's stressful beyond belief. I mean, like you said, just choosing an outlet.
Ron Caruthers 48:05
I mean, that you think that's easy. But wait, you gotta make the decision. $15,000 floors, and you gotta hope they come out. Right, you know, so well. And at some point, it starts to go I don't care wherever. Just yeah, just for that decision. Yeah. And you bring up the cost the house prices, but I don't know if you guys noticed, like maybe some of the folks listening sheets of plywood, three quarter inch plywood went up to $80 a sheet at their peak. And if this stuff was China, by the way, hold on, what did it used to be because I have no idea because the last place you're the last place you're ever going to catch me as at a Home Depot and look around, even, you know, a two by fours used to be a buck apiece ish and now they're five plus dollars for two by fours. You add that up to how much you need. One of our flooring guy was talking about a quote, he dug for $15,000 flooring. And he's like, I had to redo the quote, because the cost of the woodwind up it was $45,000 all set to the same floor. So you know, yeah, you gotta account for all that. So hey, listen, it's alright. Like I said, everybody if you've just joined in, this is the make more keyboard show on Dominic Cummins. That's Ron Carruthers in the gray sweatshirt. What does that North Eastern for it's backwards sweatshirts or for shirts or for my kids so no one went to Northeastern while went to USC well once the at Berkeley and and it looks like the baby giant that's my middle kid Brennan looks like he's gonna go to USC law so I think tonight, Mike striding Friday night it's I'm gonna go down and buy me a pullover UT Austin hoodie with a pouch. Those are my favorite. By the way, best college football experience ever is ut let me tell you. That's awesome. Hold on. So let me tell you something. We're going. That's the number one thing so first of all, he was supposed to go to Duke law last year. And I'm like, like, Bitch, you better get me some tickets. We're going to Coach K basketball game. And like I paid for, you know, I supported you for a lot of years so I don't care what you got to do you need to get those tickets. And then when he was like and I think I'm gonna hold on I need to hold off for for good reasons. I'm like Coach kid better not retire. Of course coach a retired although I don't know if he stayed retired then he was like wow, I really like Austin law. I like alright, we can accept that we'll go to UT. We're going to UT football games So Tom, you gotta come out. Peter, you can come if you want domine champ Are you that your diamond? I have a good time. Yeah, we'll be alright. Yeah, we do. We do try to get anyplace. So the UT UT is a great school. I'm a UFC fan. But that is that's a that's an awesome place. All right, so let's get off the crystal ball. It's, you know, everybody's on here waiting to hear what the real things. So, so what what do you think about the market, and we know this is hey, we know it's recorded, and you're legally bound to whatever you say next, orderly about it. Like, you know, no stress, it will go will go up. And then it will go down unless it goes down before it goes up. And then I thought so no pressure there. I saw Mike joining on earlier. So you know, the person that your business partners in on this discussion, too, so no, but so tell me tell me what I obviously we know, it's it's I'll give you all the disclaimers. I know it's la Southbay specific, all that kind of stuff of what your thoughts are on this market. Interest rates are going up. Prices are crazy. What do you think is happening?
Unknown Speaker 51:31
So I'll give Mike a little a little a little shot here. One of his famous lines at Mike Harper lines is real estate is not an exact science. Right. So there's not there's no way to know exactly where this is. Oh, gee,
Unknown Speaker 51:42
thank you.
Unknown Speaker 51:47
But you know, it's like, the reality is that I don't see a big shift. And you know, people are worried about this, like, huge drop, or, I mean, why where I don't see it. You know, I mean, there's still a ton of people out there buying homes, there's still people out there waiting on the sidelines, there's still a ton of investors who want to put their money into real estate. I don't see any big. Sure. I would say the slowdown is more. Maybe the you know, we saw and the simple way to put it is I go to an open house and I have a listing. We used to maybe have 40 people show up on an open house. And maybe there's only 20. I mean, the reality is they're still coming. People are there. The buyers are still there. I don't see. I don't see a big shift unless we get to some ridiculous interest rates, which I mean, you're talking anything above seven or eight, then people maybe hit the panic button. But I think if we're just kind of hovering around this, I don't see any reason for anything to drop off over the next six, six months.
Ron Caruthers 52:52
Yeah, and oh, yeah, there's a good I love that. That's a great line for you, Ron, you can you can cover your cover. But I do think you know, it's interesting. I think about my parents in 1987. I want to say they bought their house here in Oceanside at 12 or 14% interest. Yeah. So, you know, people continue to buy because they wanted a house, they sold their other house, they made good money on that house, and then they bought this one. And you know, you know, it's probably gone up by at least a million dollars since my parents bought it. But well went actually way more than that. But, you know, so I think that they bought a house that my mom absolutely fell in love with. She thought it was amazing. And she bought it right. So I think that that's a you know, what they bought it and you know, I think that you're right, there's always going to be there's that demand and not to get too too hung up on the lines of pitching your budget. So drawn. Explain your, your phrase around Well, before we before we do that a couple things. If you read Pharrell Williams, I think the dentist or married to a dentist or has a kid, he's a dentist or something. First of all we need to know. Do you have any hookup on laughing gas of asking for a friend for medicinal purpose? That is to joke you guys. But not really. That thought is that hey, it'll come down 5% Maybe nothing like the 20% that we saw in oh eight. So let me just elaborate on that if you guys when you're done, and then we'll get to your local crack babies comment. But around here, the correction was about 50% in 2008, and it took years before it got back up to break even. Now I personally don't think we'll have a 50% correction but I do think one might be coming because the market has gone basically straight up since 2011, where it kind of bottomed out. And so here's the thing you got to keep in mind prices have really accelerated over the last 12 months which is usually what a market does before it corrects. If you look at any market crypto Stock market. And then what Peter said right at the beginning is very interesting, which is like, Hey, you still can't evict people. So the rental market is kind of tied up because you might be buying a rental that you can't throw anybody out of. And so that portion of the market is tied up. So you've also got a supply side that's getting limited, just like we're seeing at the Home Depot with two by fours, and stuff like that. So if you got and by the way, if you guys want to go look at a picture, go to fhfa.org, the Federal Housing Finance Administration and down on their homepage, on the left hand side about halfway down, it'll say housing price index calculators, enter any state you want, and the adult truck 30 years of data, so go back to put in $100,000 house in 1991, like q1, I think, which is as far back as it goes, and then turn around and go take a look at track that price up, and then down and up again. And look at how sharply it spiked right at the end there. So I like I see, because the market crash. And what you don't see is right before that when the market was way higher, because then it crashed right before in 90. So you're seeing kind of like after it. So look, I hope it doesn't. But I think there may be something to that. Now one of the things that I say, and I want you guys this is kind of like put it in your pipe and smoke this over the weekend is always keep in mind that a mortgage is not a loan on your house. It is the loan against your income secured by your house.
And if you stop and think about this, and Peter, you can vouch for this, Dominic, you can vouch for this, when you guys are going through the mortgage process, if you've never gone through it before, they're going to ask you a three ton of questions about your income, your assets, your credit score's, they're going to basically crawl into your life and not leave for a couple of months, that at some point in there, they're going to cause somebody to drive by, look at the house, make sure there's actually a house there, maybe even poke their head and then do an appraisal on it, which is basically going to be whatever the selling price is likely, and what the most recent two houses in the neighborhood sold for, but they're going to spend way more time on your income. So just keep that in mind. A mortgage on a home you live in, is a loan against your income secured by your house. It's not alone on the house. Now when you get into rental and commercial, that's a whole different deal because it's supported by rents and things like that. And we're actually going to have my homeboy Chris on for that. By the rent. It was good seeing ya. Glad to have you. But we'll have Chris who owns the bank on to talk about the commercial side of things and some SBA lending and some cool stuff he does. But that's really just something to think about as we begin to wind down the show here. Did we have any other questions Dominic and Ivana tracked? Sugar give me the indicator right in a second here. But I will say that that probably is that is also why the question that came up earlier and we will definitely talk about this with with getting your your lending expert on is this is why it's hard for a self employed person to get harder for a self employed person to get a mortgage or get a refinance because it is a it isn't it's a loan against your income and income as a self employed person is by nature unpredictable and harder to kind of look at and diagnose for a lender. So we're gonna chat about that next week. By the way, I've got some tips for people that are self employed have ways to handle this, particularly while you can still minimize the taxes you pay. And I can't read that but I NS law land or whatever Manas law when we're glad to have you. But I think I read that right. Sorry if I butchered your name, or maybe I don't know. Yeah. Anyway, your local crack babies Good to have you. But Peter, what's the one last thing that you would add to what's the one thing that we should have asked you or people should know? That we didn't talk about yet, but one final tip that you would close with?
Unknown Speaker 59:36
Oh, boy, put me on the spot here. I feel like we've covered quite a bit as far as the aspect of things I would say. I thought Ron, actually what you had mentioned was was spot on, and I'll just re emphasize that. I guess that's my last point is is that a place where you're going to stay for five years? Let's just put it that way. Are you going to live there?
Ron Caruthers 59:56
Do you want to live there?
Unknown Speaker 59:58
Are your kids going to go to school there Um, I mean, that ultimately tells you if you're in it for the long haul or not, and then you're not really worried about the market at that point. You're kind of it, you're there because you want to live there. So, you know, a lot of people are jumping around looking at different cities, where can I go? Where can I buy the next house? Does it make sense in five years to still have that house? I think ultimately, that's that's kind of what how you determined what makes sense for you or not. And if you pay a little bit more in today's market, and you have to do that, and that's the reality of what it is, but you know, if you're going to be there, I wouldn't worry about the short term up and down. You're there for the long haul. Just write it out and make sure you can afford it.
Ron Caruthers 1:00:39
Love it. All right. Do we have any questions we didn't answer by the way. Lorna's law land or NS law, man, you said, we're right. But we said it. So we had to, we had to be right on one. Yeah, so we did have some questions, but I think they're related to one of them was from from our friend who didn't give you your nitrous that you asked for. Vera? She really she jumped? Yeah, she jumped off? I think so. But around the lock, so I think the next iteration is probably start talking about some lending stuff. So we will get a mortgage expert, a lending expert on in the next couple of weeks to talk by the talk through some of the specifics on getting lending actually, it's a really good time for SBA eidl just put out a expansion on some of those eidl loans. Hey, one of your postures joined, but you always love when that happens, Ron? Oh, hey, Catherine. Good to have you. You joined right at the same time and imposter did what? That's awesome. Yeah, so we'll get we will get your specific mortgage and lending and SBA kind of questions coming up in the next couple of lon as well. And there we go. Lawyer. Look at that. Look at that they party great. They party hard and they can get you out of jail the next morning. Yes, that right there with unless they're right there with you. Yeah. And HR people, HR people, believe it or not, you know. So yeah, so but yeah, I think this will we'll get some of those questions, I think are just mortgage related. We'll get those answered on a on another. On another call for everybody joining late, we post the show. Generally within a few minutes, however long it takes Instagram to render it. But if you missed it and you want to jump on later and listen to what we chatted about we had Peter the we had Peter the Great or Peter this. So depending on our local real estate agent when a Dominic's homeboys so we'll be sure to tag you in the IG posts there so they can track you down if they want. And if you want to give away I'm contacting you go for it or they can just do it right here through Instagram, Peter, you wanted to do that?
Unknown Speaker 1:02:46
Yeah, my last name is hard to spell. So we'll type it out for you guys. And then you guys can will follow us on Instagram and my last thing, don't believe Zillow.
Ron Caruthers 1:02:56
The Zillow freaking Zillow guy blacklight. I'm gonna get to your questions in a moment but and lovely. See JP had a great tip, which is drive by at all times of the day or night and check with the police. That's really a good piece of advice, particularly if you're going to be living there do teenagers drive up and down the street at 60 miles an hour. We have a crack house right around the corner. Look, I've lived here a while. But we had we had the SWAT team out here a couple of months ago the whole street was locked down for the most part other than they can't park to save their lives. The crack addicts keep to themselves but I mean it's a legit crack house but what are you going to do? Well we chatted about before I stopped 20 This day and I totally distracted Zillow, Zillow. Oh, the freakin Zillow guy sold his house. The president of Zillow sold his house for like 42% below what Zillow Zestimate was you guys can look that up. That is a proven fact. So Peters got a good point. Zillow sucks. Anyway, blacklights had a couple of questions. If Ivana could state those, we'll throw those in for next week's show. And we will chat about those we'll kind of get around real estate stalling. Whether for buying buy there may be questions. Definitely get that one next week. We'll talk about some of the financing. Alright guys, this is the make more keyboard show. You can find Peter, just look at his profile posted in the show there. Peter, did you want to give any other contact info? Are we good? No, that's good. You can just Alright, sounds good. And my imposter. You should be ashamed. Your mother would not be proud of you at all. Your mom is ashamed of you. She's not even going to invite you. You're going to she's going to disinherit you from the will and it's going to end badly for you anywhere. He probably didn't have a good relationship with his mother in the first place. So that's my that's my his gender. That's true no matter postures lovely CJP of Gods you like outdoor Here's another shot of the ocean for you guys.
Unknown Speaker 1:05:07
Yeah we
Ron Caruthers 1:05:08
gotta go I gotta I got I got one more Peter bike I got I got ocean out there so it's good to so Anyway, bye guys take care
Transcribed by https://otter.ai
