Welcome to Do the Talk podcast. At Do the Talk, we teach regular people how to invest in real estate, so if you'd like to learn how to invest in real estate, you have come to the right place. My name is Ibrahim and Ahmed is my co-host, so we want to make real estate investments seamless as much as possible, and that is why we come to the podcast and educate you guys as much as we can. Today, we want to talk about market challenges for real estate professionals. Ahmed, how are you doing today?
Speaker 2:I'm doing great, brian, just like in private, we always come here and talk about real estate. This is a second phase, actually, and it's really, really interesting and we are happy to be coming here every time. I just want to switch to Ibrahim now, so that he will become my mate this second time that I think I call myself Ibrahim one time too. So but yeah, honestly, I am really back and, just like every week, we come here, we talk real estate, we try our best to make this a norm in our society, talking about investing generally. But keep in mind, we are not looking for get rich quick scheme. No, that's what we are talking about. We are talking about real process, real growth, how to be real. Well, not short calls. You have to be patient with it. You have to work it for it to work for you. So we are regular guys like you, so it's a proof that it can work for anybody, as long as you are committed and you are ready to do the work.
Speaker 2:So today we are going to be talking about challenges that real estate professionals are facing at the moment in our market. So we'll be talking about personal experience and some feelings that we have in the market. But remember that this is a general idea. It's nothing really specific to anybody. It's just what we observe in the market. It's just what we observe in the market. So, ibrahim, as a real estate broker, you see it all really, and as an investor, you see it all as well. Coming from helping people to buy, you're buying yourself, renting out on a middle-time renter all these, what are the challenges? That is peculiar to real estate agents. Let's get them one by one. That's peculiar to real estate agents and real estate professionals at the moment.
Speaker 1:Thank you for asking that question. That is a very interesting question. Thank you for asking. Before I really talk about that, I want to call everyone's attention to Ahmed. If you look at where he's at right now it's not the regular office you can tell that he's very committed. He's not in the city but, however, he's able to join us online. It's part of the commitment that we've been talking about. So we are dedicated and we want to make sure we always come here every Friday to educate you guys. So let me go to the topic.
Speaker 1:So, concerning real estate agents, of course, there are a lot of challenges and the entire profession is facing and feeling the challenges we are facing right now. As a real estate broker, I think we have a couple of challenges and I will start by saying the first one that really turns the table around was COVID. Okay, when COVID came, nobody was prepared for that. Like the entire world wasn't prepared for that. It was like a game changer because it reset everything. Of course, we've been hearing that, okay, technology is coming, or technology, ai, this, that, all those evolvement, or something that will evolve the whole real estate system, and we've all learned that something is coming.
Speaker 1:However, when COVID came. Nobody saw that, nobody foresaw that. I mean, it was just like a disaster. Actually, it was a disaster. So what happened? Many countries responded by lowering the interest rate, looking for a way to help the citizen and all that help the citizen and all that. So the impact of the United States lowering the interest rate to zero, almost zero, is part of the problem we are facing now, because the lenders, of course they are to lower their rate and it was very unprecedented, very low. Everyone are jumping to the market, refinance, buy properties, and it's a good thing when you benefit from that.
Speaker 1:However, there's an aftermath of something very too good to be true, that happened during that time because, when real interest rate is about two percent, some people were able to get it for one point, something percent of interest rate, so it kind of drove the price of the real estate properties and real estate market was very hot and dangerous. Then I said dangerous because the equity and everything was unrealistic, it was pumped and the market was so I should also say aggressive because a lot of people barely have time to negotiate, and all that just because there's no room to negotiate Realistically when you are trying to negotiate the person who is, at the other hand, probably won't have time for you to negotiate with them, because when they look right ahead or the side of you, there are two or three individuals waiting to get the same product or to get the same house. So there was barely a room to negotiate that. Just because there's no need to do that. When three people is asking for the same thing and one person is telling you, hey, I'm ready to pay more and the other is, you know, trying to negotiate, of course normal human response, normal People will go for the one that is ready to pay more, just because that's a way to get extra bucks for what they're trying to sell.
Speaker 1:So in real estate it was just very pumped and the market was very aggressive and I remember one time I then in 2021, I put in an offer in Avon. Believe me, we added $15,000 more than the listing price. Believe me, we lost this transaction, like we lost that deal, just because someone else probably paid like 20 or 16 or 18 or 19,000. I'm not sure how much that person paid, but I definitely believe that person paid more because if a seller could reject it if 15,000 added amounts to the lease price, it was above listing for 15 grand and the seller still did not pick my buyer and I learned the other person paid more, but I don't know the exact amount. So think about that In Haven at that point, brownsburg to get a house in Brownsburg you have to pay $20,000 or more to get it. So if you ask me, it was very aggressive, very dangerous then, because it was just unrealistic. So what is the side effect of that? Almost all properties got some kind of appreciation. It was just unrealistic. So what is the side effect of that? Almost all properties got some kind of appreciation. Everything was just so unrealistic then. Now, because those appreciations had piled up, it's causing a negative effect right now, not just because of that alone, of course. I'm going to get into other reasons why, but it's one of the reasons why we are facing what we're facing right now.
Speaker 1:Now the second one is that the high interest rate. The rate was low. A lot of people benefited from that. It caused high inflation. However, the government you know the new administration had to increase the rate to calm the inflation. It might be working in other sectors. It might be working. It barely work on real estate for some reasons, and the national builders are part of the reason why we will barely see the effect on real estate.
Speaker 1:So the national builders come together and control the price. They know it's hard for people to get property right now. They know it's hard to pay for a house that usually we pay like $1,800 every month, now it has to be like maybe $2,400, $2,500. They know people will kind of just boycott them and just go and wait or something, or only the motivated people will buy. But what they did is they're lowering the price of the house, cut down the equity that they forcefully drove up. They didn't do that. What they did is, and what they are still doing, is they buy down the rate. So when they buy down the rate that way, instead of 1800, no, sorry instead of 25 or 2400, it'll be like 23 or 2200. So for some people, for some sorry instead of $2,500 or $2,400, it'll be like $2,300 or $2,200. So for some people, for some folks that still need a home they have to buy and they know what is going on in the market, that it would definitely not go down, they are forced to go with $2,200, $2,300. Of course, if they didn't take that, if that person does not take that, he or she will be forced to take $2,600, $2,700 because the normal rate is way higher than that. So to an average person it looks like they are doing you a favor when you see a $4,999 from the builder and outside wall this is $7,250. The gap is about $300 and something every month. So you definitely I mean if you need a home, you definitely would go with the builder, just because it kind of lowers your payment. So they kept doing that instead of really lowering the price, because they want to keep that high price. That way when the rate comes down, they know the market will go crazy again, but they want to start from the high price Because another thing it will affect their appraisals. That's why they have to just keep it high.
Speaker 1:Now, why all these challenges? Why is it this? So I should say terrible or so bad this time. Terrible or so bad this time? It's because the US as a country, they've been a low inventory for the past I think 20 or 30 years just because investors are buying houses and are using it for business. Well, I'm not talking about people like us, I'm talking about big investors. They buy a lot of homes. Benchi Atawe is part of them. They bought a lot of homes and they are using it for business. You know, so doing all that, it kind of reduces the home that are available for the normal masses and all these big, big companies. They are doing that because real estate of course we all know that is very tangible and is reliable. So we are not the only one looking at it. The big dogs are looking at it just because they know it's a good place to safeguard their asset, their resources. So because of that they've been like over.
Speaker 1:I think the last time I checked was about 3 point something million shortage of housing that we have in the US and combined with high interest rate, combined with high inflated prices right now, with those three it kind of make it tough for people to get loan. The higher the interest rate, the lower your purchasing power, and the lower your purchasing power, the less likely you're going to get a mortgage. Who is now facing the challenges If all this? I just listed three or four stuff now it's the realtor, the appraiser, the inspector and even the loan company. Because if a buyer cannot get a mortgage and if that person does not have the cash, it means that person will have to wait, except if that person is very skilful and is into the business of it's an investor, wholesaling and all that creative financing and all that. But the average people, they don't do that. They just buy when they can. If they don't, if they can't, they wait. So technically it's taking away my potential income Because if my buyer cannot buy, what can I do? I just have to look for someone else who can buy and try to help that person when that person is ready to buy. So it's a big challenge for real estate agents. Another one that also wasn't.
Speaker 1:The old situation is the big brokerages and real estate companies are taking over. I'll give you an example Zillow, seven, eight years ago. People don't really focus too much on Zillow, redfin, all these big brokerages and real estate companies. They bring technology into the game. Now buyers are able to see what they want. They are able to call those agents on Zillow and Redfin and Trulia and all that. The good side there's a good side and a bad side to it. I must acknowledge that. So the good side to it is that now they make the transaction easier for those that know what they are doing Okay, because now they have that tools on their phone or on their computer. But those that don't know what they are doing.
Speaker 1:It can be confusing and I should just use the word confusing Because sometimes I tell people that when you go to Zillow, when you see the monthly payment, be careful, you have to click on that payment to really see what it is. Because it can be deceitful. Because when you see, for example, they tell you you're paying $2,000. That $2,000, yes, you pay $2,000 if you get the same interest rate and if you pay 20% down. But a lot of people don't see that 20% down, they just see that number and this person probably have a plan to pay like 3.5%. So there's no way your payment will be the same when you have planned to pay 3.5% and Zillow already pre-calculate or presume that you are going to pay 20%.
Speaker 1:Of course we know 20% is for investors, single family, normal residents, residents, buyer occupant properties. You don't have to pay that much. You only pay three, four, five percent. In fact, if you have a good credit and this is your first home, you can pay three percent with conventional loan. So, anyway, where am I getting to? I'm getting to.
Speaker 1:It looks so deceitful. People see that money oh, this is low, okay. And sometimes they sell it to you like okay, this is what I'm gonna pay. When you tell them no, they'll say, oh, but yeah. So what am I saying? This technology kind of make it very accessible to people, which is good.
Speaker 1:However, the other side, people call the agent that register with Zillow, and those agents some of them are not really local to you like somebody living in Theraholtz but because they register with Zillow and you are in Indianapolis, they'll try to catch up with you and some of the time they have to also refer you to someone one of their buddy colleague in indianapolis, and so you get to meet two different people or like, and they sometimes they miss your aspiration and what you really want just because the real person that you thought you are connecting with he let you with someone else because that person is not in your locality and and at the end of the day, you might not get that full service that you are hoping to get. What it is. That is some of the things people are reporting about this big brokerages. So at the end of the day, it's affecting some realtors just because if you don't pay, you don't register with Zillow, redfin and all those companies. It means those people that are registered with them just because they see those houses there and the way social media is designed, they'll tell you click on this, click on that. People click, generally not really understanding that, not understand that this company will call them or they will send an agent to them. They thought that Zillow owns that property or Zillow is the one that is taking care of that property, which is false, just because the person does not know better that that property can be seen by any kind of agent and can be your realtor can also do the same. So because of that it takes away some deals from realtors and it kind of affect the market and overall it's a lot of challenges.
Speaker 1:But what have we been doing? What can we do to get out of this? It's one of the things I'll discuss. But I'll let you talk about other challenges where the real estate professionals are facing, because, of course, agents as a broker, we are not the only one in this. Everyone is facing this problem, and so I will take a pause and let you talk about what other people are facing in this same profession and after that I'll tell you what we have to do to get out of these challenges.
Speaker 1:I mean, of course, the challenge is going to be there. It will go away gradually, but there are a lot of things we can do that will help us and keep us afloat while these challenges are still there, ahmed. So what are other professions or what are other things that you have heard or you are experiencing personally concerning this real estate? I don't want to call it bubble. We all know that this is not a bubble thing. It's just that it's different from 2008. So we're not going to see anything like crash and all that, but it is a challenge that we cannot deny. So what are the things you are seeing and how can you advise us tonight?
Speaker 2:Yeah, thank you, ibrahim. So there is limitation to money that is circulating, like you've explained to us. I don't want to dive into that again. So that limitation literally imposes changes on people that are buying houses, like you explained to us about purchasing power For those that doesn't know what purchasing power means, your ability to be able to secure a loan. But it boils down to what does bank think about you being able to repay them? That is what it boils down to. So if they think, okay, you will be able to comfortably pay them 2,500 a month, a loan that will allow you to repay 2,500 or lower is what they're going to give you. If you want to buy a house that you might end up paying 3,000 or more, they are not going to approve it because your purchasing power is not enough. So that is what that means literally, and money circulation is directly affecting that because of the interest rates that he must pay.
Speaker 2:How does that impact me in my own field as a property manager? If you don't buy your second house or your investment property, what will I manage? So we are seeing low inventory. So the few that are coming to market is what everybody's kind of struggling with, like, okay, give this house to me and what that costs. The immediate effect of that. Everybody's kind of struggling with like, okay, give this house to me and what that costs, the immediate effect of that low quality service. Like you all know, property management is a service thing, so what that will cost is I've seen some people that said give me $75 flat and I will manage your property for you.
Speaker 2:Would they be able to do it at the same energy that someone that will take more than that will be able to do it? Are they looking for you to make money? Are they making their decision in your best interest? These are the questions that you need to ask yourself Right so that challenge doesn't stop with you, tony, brian, it goes around to every profession. I work with a lot of contractors as well. Before. When you call a contractor to come and work, what parts like this they are not going to come and do it right now because they have three, four people that are on their neck to get them to work for them. But right now, if you call someone today to come and check your house, they will tell you that you are available right now and will be coming right away.
Speaker 2:That is to tell you that too many people are not buying houses anymore, too many people are not working on projects anymore because of money in circulation is really limited. The purchasing power of people has now dropped drastically. So I must say that that doesn't mean that don't buy real estate. No, it just means that you need to cut your costs according to your sizes, making sure you can afford it before you go for it. So another thing that I did those hosting with Airbnb short-term rent those guys people don't travel anymore, so it affects the revenue on that end as well. Time rent those guys people don't travel anymore, so it affects the revenue on that end as well, because everybody is being conservative right now. They are trying to preserve what they have and that is kind of limiting the revenue on the short-term renter Doesn't only affect short-term renters. Hospitality industry generally, even the hotels are feeling the heat. Even the tourist points, tourist centers, nations are feeling the heat across the world Pretty much.
Speaker 2:If there's any issue in real estate, it's directly or indirectly upset every other industry, like we know. So these are the challenges that it's like us right now and it is not something that we cannot navigate. Of course. What I want to point out is. Knowledge is key when it comes to our time like this, where you educate yourself, those things that you see as the challenge, you'll be able to work around it.
Speaker 2:So securing a loan Ibrahim mentioned going through lender. If you are buying a brand new, it's cheaper right now, which makes it harder for real estate agents to actually get clients, but when you are trying to buy investment property, it is one highly recommended. You use real estate agent If it is on market. If not, you buy a distressed property from wholesalers or people that are involved in doing that. So why do I go to that route? Why we are discussing the challenges that the professionals are facing? I want us to know that, if you educate yourself, going through loan is not the only option. There are other options out there. There are other creative options out there, like seller financing, like subject to, like a lease option. Lease option is the same thing as lease to own. You can call it whatever, but it still means the same thing. So there are all these other creative ways. Even investors use this option. You just need to make sure that the house can cash flow so that you can make your payment. So these are other creative ways you can navigate Just a few of them. Don't let me say these are all just a few of them, the other creative ways you can navigate.
Speaker 2:This time, and, as a property manager, one thing that I see a lot is a lot of homeowner are panicking, which they are not supposed to, because you see, the profits that we've been seeing, the appreciation that we've been seeing for the past three, four years now, they are not real. They are unreal really. If you think about you buying a house in 2021 and in 2023, you already have 100,000 equity on it. It is unreal, literally. So we shouldn't climatize the markets to. It has to be like what it used to be the last two, three years. We all know last two, three years is unusual. Last two, three years, they are the years of COVID and those are unusual and they don't regularly come around. I believe at the point of 2020, that was when it makes like a year that we've had epidemics before. So those are on each time on usual time and we see a lot of acquisition at that time. So this is kind of already setting back to normal acquisition that we used to see normal interest rate At some point in around 1980, 1990, interest rates was 18%. So what I'm saying is this is not like on usual. It has happened. It has been even worse before now.
Speaker 2:So I just want to let our audience know that there are challenges, accepted. There are the time and the thing that has happened in the past is now correcting itself. It is not really challenges, in my opinion. Things are just correcting themselves and in terms of professionals, this time is also correcting itself. So, in the sense that when the market is sweet, everybody jump into it, now is the time to know if you are passionate about what you are doing or you jump into it because you see your friend making some big bucks, or you jump into it because you see your friend making some big bucks.
Speaker 2:So if you actually want to hire someone, this is the time to know if they are real or not. If your real estate agent is back in the warehouse now, you know that it's really not for passion. You might want to think twice to go to someone that do it full time, which is Ibrahim. Also, property management is my bread and butter. You might want to think twice to go to someone that do it full-time, which is ibrahim. Also, property management is my bread and butter. This is what all I do. And another thing is my clients are still able to cash flow heavily right now because we are aware of multiple exit strategy.
Speaker 2:So even if you invite me to your house, thinking this is going to be a long time busy, if I look at the neighborhood and everything, I might be like you know what? Let's furnish this up and do mid-time renting. I was talking to a client of mine earlier today and she is in California and she has a house in Indianapolis and I was telling her like let's furnish this up. Insurance companies are hitting on this house, so let's furnish this up, but even on furnished, they still want to get it. We are talking with the adjuster right now and they are going to be paying a thousand more than irregularly on furnished jobs. So because now is where you will be able to determine the good from the bad ones, the good professional from the bad ones, right.
Speaker 2:So it is actually a good time for me because it is resetting everything and now we are able to see a lot of movements in terms of pushing out some people and some people are already still and being resistant by being flexible with their approach. You and I are talking about stuff before we get online here and you discuss what you want to do differently. That is what people that ask questions for this, that is what people that take this seriously do at times like this. So what am I getting? This is a challenging time for real estate professionals generally, but they are not. They are just resetting the market. They are just pushing out the ones that are not really strong, the ones that doesn't really are passionate about this. All these few and the ones that are really, really genuinely interested in the business are still in there doing it and killing me.
Speaker 2:So really, ibrahim, I don't have too much, but I think the cost of it, like you mentioned, is money in circulation. There's not too many of it, and the people that have some including you and I and everybody out there we are holding on to it because we don't know what tomorrow holds. So everybody's being careful with their expenses, with their finances and all that. But before I pass it back to you, ibrahim, I'm just going to point out that educate yourself in everything that you want to do.
Speaker 2:Once you have that education, you will see that there are multiple ways to do one thing. There's no right or wrong way to do one thing. There are multiple ways. So you can do it, make it, and if that doesn't work, just change your way and keep going in the same direction. Go to work. So, ibrahim, I know you mentioned a lot of things that we're experiencing right now and, as a brokerage, I know you are going nowhere, because this is pretty much what you enjoy doing. You enjoy talking about it. You have passion for it. What are the things that other real estate professionals out there can implement, starting from real estate agent across the board, real estate property manager, wholesalers, loan officers, contractors and others? What are the things that we all can do at this point to make this time seamless forever?
Speaker 1:Yeah, thank you. That is a very good question. Before I answer that question, permit me to say that I actually so. I helped this client to buy a home and she's been holding the home for more than two years now. She has the option to sell. However, she chose not to sell and again she got my opinion. I told her I don't think selling is your best option. You have to think about another strategy. And she said I'm thinking about renting it out. What do you recommend?
Speaker 1:Before I mentioned any words, she said I trust you. I know you're going to find me a good property manager, or actually, she said a good property manager. Then she said somebody that can help me take care of the property. I said yeah, you are correct, a good property manager. She said somebody that can help me take care of the property. I said yeah, you are correct, a good property manager. She said yeah, yeah, and I wanted to say I got you, I can get you a good property manager. But before I said that, she said again like before I say a word. She said again I trust you. I know you're going to give me a good one. I said thank you for that. Yes, you are absolutely right, I'm going to get you a good property manager.
Speaker 1:Then she said okay, when can I meet that person? Okay, when are you making your move? She's traveling for privacy, I'm not going to mention where, but she's traveling to another state. She's going to stay there. She's going to stay there, she's going to be living in that state, so it is. She has to do that because she has to go there. So I said trust me, I got you. Somebody is going to manage this property for you very well.
Speaker 1:So, even though I haven't tell you, I'm just using the opportunity to tell you now that I already got a deal, and the opportunity to tell you now that I already got a deal, because the truth is, I like to put my money where I mean, put my mouth where my money is, or put my money where my mouth is, however you want to call it. Because when you have somebody that is possibly know what he's doing, passionate about what he's doing, all you have to do is keep supporting that person, any angle, anywhere. You can Just like you are providing value to my business, not for anything, but because you know this person is credible and is going to take care of whoever you refer to them. Same way. I'm more than confident that this person will get a good service from you. So I told her trust me just like you. Trust me, you will not regret it. Same way, I'm more than confident that this person will get a good service from you. So I told her trust me just like you. Trust me, you will not regret it. This person is going to take care of your property. So and she was excited so anyway, we'll talk about that after this.
Speaker 1:Let me go to, let me dive out to the main topic, which is what are realistic, professional, what are the things that we have to do at this challenging time? I know you mentioned it's not challenging, it's actually resetting. I'll take that because, at the end of the day, challenge will drive away people that are not committed, people that won't be able to weather the storm because it's like a storm running right now. So if you can weather the storm and you are strong enough to face the challenge, then you benefit enormously after the challenge is subsided or is over. But for some people, unfortunately, it will take them away because we know this is kind of unprecedented in some kind of way, just because the challenge is multi-dimension.
Speaker 1:The interest rate is high, there's low inventory, so the prices are still holding up. Usually, when interest rate is so high like that and let's say there is very high inventory a lot of houses everywhere nobody's buying the price will be forced to come down. There's no other option. It will come down, but because the interest rate is high. However, the people that really forced to come down. There's no other option. It will come down, but because the interest rate is high. However, the people that really wants to buy home. They are way more than their available homes, yeah, so because of that, there's no need for the price to come down dramatically. Of course, there are some locality where it's just so terrible because real estate is local. We all know that. But in general in the US, prices won't just fall like 2008 crash and all that just because it is a different situation there.
Speaker 1:Now, what are the things we have to do? First of all, we need to first recognize what is going on, which is people are able to look at houses online. People are able to click on agents, this and so big brokerages and real estate companies. They put the power, they take the housing to people on their mobile. So it means if you want to benefit or cut part of those people that those big brokerages directly taking houses to their face. You want to benefit or cut part of those people that those big brokerages are directly taking houses to their face. You want to be benefit from that technology or that what do I call it? That kind?
Speaker 1:of new approach, new way that kind of new approach, that kind of new style that every all these big companies are doing. You also have to get into that game of going directly into people's face, not in a rude way, not in a, of course you know, unprofessional way. You can go into their face and show people that, yes, you are in the local area with them, you are knowledgeable, you can provide the service they are looking for. And they don't have to even go with Zillow, because the agent on Zillow probably does not even live in that area. They don't even know what's going on there. It's just people register with Zillow and Zillow just set people up with all these agents and just because it's a business for them, they get their commission and all that.
Speaker 1:So what am I saying here? You have to get into social media. You have to let people know how valuable you are. Tell people what you are doing, show them that you are credible, especially when they meet you one-on-one. Let them know that you are reliable and they can trust you and you are going to make sure you provide the kind of service they are looking for. So you do that on social media.
Speaker 1:Now, in real life, which is when you meet people, you have to be yourself, of course, not like you're on social media. You act this way. When you see in real life you look totally different and you talk unprofessionally and all that. No, you have to your style. People like to see that genuineness in you, like how you express yourself, and all that Immediately. It's very important when you meet people. You have to, really, because first expression lasts longer than anything, the initial expression. When people see you, what do they perceive you think they don't look at? I mean, they don't necessarily have to stare at you for a long time before they kind of observe you Immediately. When they see you, they mind the way our brain works. We scan our environment. When we see something we prejudge. Some people do it in a terrible way, but naturally, no matter who you are, when you see something, your brain scans it through like real quick and try to see if you have to run, you have to stay, you have to talk or you have to tolerate that person, or your brain keeps scanning and trying to make sure you are safe, because at the end of the day, we always scan subconsciously to make sure we are safe wherever we are, subconsciously to make sure we are safe wherever we are. So if you see somebody sitting down and not doing too much or not scared, it's because the brain already tells that person you are good, you are safe. That's why you see that person calm and sitting down. But if that brain is telling them something is going on here, you have to figure out what's going on out. You see that person looking around and turning and turning. It's the same way.
Speaker 1:When you enter an office or you meet somebody, right away your brain is already scanning Okay, what is going to tell me? Okay, is it trying to scam me? Oh, okay, is this one of those people that want to just? So my point is, when you meet people, demonstrate that genuineness in you. Demonstrate that you can provide value to them. Demonstrate that you are not what they're looking for.
Speaker 1:For example, if somebody approaches you and say, hey, ahmed, I'm looking for an investment property, I want to lease the property on a normal lease just because I want good income. But that's the only thing I can do, or that's the only thing I'm aware of, can you do that? Of course I may, can do that. I may say yes, I can do that. However, because I know who I made this, it's probably going to say let me see that property, for let me see the potential in the house, because that person may not know if that asset, that property, can generate more than just normal lease. Of course, nothing wrong with normal lease, but what I'm trying to say right here is that if a man can convince that person that, ensure that person that, yeah, you're going to get more money because this area is good, this property is nice, this is a big cash flow that you get.
Speaker 1:If you can do this strategy, he or she. Normally they will look at the data, they'll see what you show them. If all those stuff are good enough, of course that person would like to go with you because you have showed that person that, hey, what you were trying to do at first isn't bad, but it's not the best. Now you've demonstrated that you know your skills, because now you acknowledge to the person that, yes, nothing is wrong with that. However, I can show you a better way of doing it. Hopefully the person sign up and they are seeing the benefit. The cash flow is coming in. What do you think Next time that person is going to recommend referral to someone else just because he has demonstrated that, hey, he got it. That's his game. That's what he's doing every day Bread and butter, like he said.
Speaker 1:I'm going to use his word, bread and butter. So it's the same way with real estate agents. When I meet people, I like to see where they're at and try to see if they're at and try to see if they will expand. Try to see if they are thinking about investment, try to see how I can help them in circle, not just go like, okay, you want a house, I'll get you a house, you have this, that's it. No, you need to try to see what are all the things that is bothering them, that or something that they are thinking about, but they don't know if you can provide that value or that service to them. But you letting them know that I like your plan, I'm going to help you with that. However, have you been thinking about this or do you think it's a good idea? If you do this with that, just show people that you know your skills. That is my point in summary, and if you can do that, of course people will appreciate that and they will like to work with you.
Speaker 1:At the end of the day, everyone wants to want to work with a professional that is knowledgeable, skillful, passionate and dedicated. Of course, reliable as well, because it's it's one thing that as well, because it's one thing that and also responsive. It's one thing that, hey, you give somebody a contract or you give them a job, they don't call you, they don't pick up their phone, and all that, all this is something that might mess your profession up because, at the end of the day, people don't see you as they see you, as you are not there for them. Real estate we know it involves emotion. We know it comes with anxiety, especially the first-time homebuyer, first-time investors Forget about even an investor. You get scared, especially first time. You'll be afraid, you'll be afraid. So it is the main reason why we advise you on this podcast you have to go with people that are knowledgeable, people that are ready to provide valid and invaluable service to you. Okay, absolutely.
Speaker 1:I just told you some minute ago that I told one of my clients that, hey, I know somebody who's going to manage it for you. It's your property. Got it Because, at the end of the day, I want that client to be comfortable be in whatever state she is. Like I said, I'm not going to mention the state for privacy, but whatever state she's going to go to, I want her to feel relaxed and know that, yes, her property is safe. So, of course, there's no other way. I have to recommend a property manager that I trust, that I know is going to do the job.
Speaker 1:So, by the way, if any of you guys you have a property you want to, you're looking for someone to manage it, someone who's going to show you a way to make more money. We are talking about legible money, like legal money. This is not about fraud or anything. Legal money it weighs. It's not funny, right? But this is a real money because it's strategy. You have to put in some strategy so you can get more for your asset. You don't want to. How can you do? Or spend 250,000, 190, 300, whatever thousand you spend and you only get $100 at the end of the month? I mean, the fact is, if that's what you can get, it's better than none. But I'm telling you right here that if it's your property, it will probably get you more money than that.
Speaker 1:So what you need to do is give him a call, try to set up appointments, see what you can get. It's going to show you all the options that you have and you pick one. That's another thing I want to let you know. Here you are free. They will guide you, show you what you got. Then you are the one that will pick, not all these companies that have to force you and try to tell you you have to do this, you have to do that. No, I like that freedom of they. Show me, I'm informed and I pick what I like. That's what I like, any kind of thing I'm doing. I want you to show me. You're the professional. Show me and I pick what I like. So who am I getting to? I'm saying if you have a property you want to manage, you just buy a house. You don't have that time or you've been managing it, but it's been a terrible job, like a hell for you. Just because you are busy, or you just don't know how to screen your tenants, all you have to do is reach out to property manager that is doing it.
Speaker 1:Concerning what I was talking about, about real estate what we can do to make things good, I think provide value to your clients, be there, be responsive, be nice to your client. Let them see that you are providing value. Let them see that you like what you do. Let them see that you are knowledgeable, definitely, definitely, you'll be able to wear that stone. Be consistent, keep educating yourself, because things change every day. You have to. If you are doing the same thing and you're not getting results, you have to try something new. I told Amir that I'm going to try something new. I'm not going to launch that tonight, but you guys are going to see it. I'm going to try something new because I want to show people that this is my career. This is what I love doing. I love to extend my services to people across you know, indiana. So you'll see the result very soon.
Speaker 1:Ahmed, there's one of our audience.
Speaker 1:Here is Ahmed.
Speaker 1:You have a new bag. Yeah, because maybe I should. I would just say that I'm sure it's online. It's because Ahmed is dedicated. Of course, he's in another place right now. You know that's what you get when you are so determined.
Speaker 1:I'm sure, ahmed, if Ahmed let's say something he couldn't get on the podcast, I'm sure he won't be relaxed like this. He'll probably just be uncomfortable and be thinking like, oh, I have to come and talk to my audience and all that. So it's a good thing that when, even when, you travel and you know that it's just part of him. The way I'm getting to is that when you are dedicated, you are committed to make sure that people are getting valuable information from you, every week or even every day. However you are doing it, you will feel unfulfilled until you pass that message on that day that you are supposed to show up. So I'm pretty sure he feels more delighted right there while he's there versus if he cannot make it to the podcast. It will be so I know it will feel good.
Speaker 1:So, ahmed, thank you for really making it, even though I know it's not. You're not at home right now, so we really appreciate that. Ahmed, what do you have to say? Because we are running out of time and it's home right now. So we really appreciate that. I mean, what do you have to say Because we are running out of time and it's 57 right now?
Speaker 2:Yeah. So, basically, thank you, ibrahim. I really appreciate all the knowledge and your guidance, your experience this is why we need experience, just to be able to guide us, just to be able to and for not quitting on us If you had quit back then you would not be here today talking to us. So for not quitting on us, thank you for saying that Donald is asking for a mentorship class. Both me and Ibrahim, we are very dedicated to our businesses right now and mentorship is coming. I can promise you that, but not right now. Okay, I know you want it, but yeah, it's just not right now. We have too much on our hands and if you've been a good follower before now and you understand that if both of us are doing things, we want to do it to the fullest. We want to do it all the way to the end. We don't want to give you a flash of something and then run away when we get busy. So we'll show that we have all every resources that we can deploy to you and we want to make sure that we are at a point that we already get our business up to a certain point that we can now let other people run it for us and I'll give you full attention, because I believe mentorship. You need to spend time with your mentees, you need to talk to them every day, you need to guide them, you need to push them, you need to inspire them. So those are the things that will be preventing us from doing that, but thank you for always, always pushing us. I know you're going to ask for the same thing next week I, but thank you for always, always pushing us. I know you're going to ask for the same thing next week. I'm going to say the same thing next week too. So thank you, ibrahim. I'm going to go back to the topic now. Like you said, I honestly fully agree to everything you say. Number one thing is to be able to listen when you want to solve people's problem, because if you don't know what their problem is, how are you going to be able to solve it? So you need to be able to show.
Speaker 2:I was with my friend yesterday. He is my brother, but he is my friend now, because a young guy that is doing big things is not my friend. Age is just a number. I don't care how old he is. He's doing big things. He's now my friend. Age is just a number. I don't care how old he is, he's doing big things now. So, and we are talking about people that just want clients, people that want relationships. He is a photographer, a podcaster. We did a podcast together yesterday. That one is coming out soon as well, and he mentioned that yesterday that he's tired of doing business. Sometimes that's what I always tell that know when to shut up versus when to talk.
Speaker 2:I was listening to this young boy yesterday. He used to be a young boy, but now he's a man. So I was talking to him and he was telling me his style of doing things and I look at him and I'm like you've grown a lot since we last met and I'm really happy for you. He asked me why I come to Dallas. I said it's you.
Speaker 2:So, really, one thing that I learned from our discussion is relationship should precede what I'm going to get from you right now. You just need to change it, and that is why I'm going back to that. That is what reminds me of that discussion. Really, if I had done something wrong with the past people that you refer to me, you wouldn't be thinking about me this time when another opportunity showed up. But because we build the relationship, then what follows the relationship is always trust, and when people trust you, they will just let you do your thing. And why they believe that you got it. You're going to figure it out for me, right?
Speaker 2:So it is really really, really important to build the ship where you, where you are in business and because of our time, I don't want to, but make sure you sit down with your clients, physically or virtually, and listen for like 15 minutes. Just let them talk and oh that even say, okay, I want a house with basement. Oh, with basement. Then they will say, okay, it is finished or not. Or if they don't mention it, you'll be like, okay, do you want? When you say basement, do you mean finished basement or unfinished basement? Now, they know that. Okay, this guy heard me and he's giving me types that I don't think about Now.
Speaker 2:They can go back and think about it. Or they can be like I want to finish one or not. So, but if you don't, if in today you cannot solve their problem the way they want it, you might end up solving it blah, blah, blah, getting into the results, but they want that will make them come back to you. That is how you want to serve it. So, as an intersex professional, how they make sure you take your time to know your client. Employ this speedy of relationship today and thank me later. I don't have any other thing. I think we don't have any other question as well. Ibrahim, any final word. If people want to reach out to you, how can they reach out to you?
Speaker 1:Yes, it's the same ID. Realtors, go to my DM, shoot me a direct message. Give me a call, 317-728-02. You can message me on WhatsApp. Anything concerning real estate, that's what I do. I am like Ahmed said I'm a real estate broker and I'm also a managing broker. So anything concerning real estate, give me a shout out, ahmed. How?
Speaker 2:can they reach out? You can reach me on my business 317-689-7075. I'm always answering my phone myself. I'm always answering my phone myself. I'm always answering my text message. And if you are a social media person SEO property on TikTok, official Ahmed Lawal on Instagram If you find any of my video, just send me a message. I'm going to send you my phone number. I just called it, but if you don't catch it, send me a message. I'm going to send you my phone number. I just called it, but if you don't catch it, send me a message. I'm going to send that to you. All right, bye Next week. We see you guys.