Why You Should Use A Realtor...Especially In This Market!
Realtor Joe Willis and his team discuss navigating the 2022 housing frenzy and why professional guidance is vital for first-time buyers and investors.
Joe Willis
Realtor
At a Glance
Archive Scoring
Introduction
The journey from renting to owning is rarely a straight line, especially in a market defined by hyper-competition and rapidly shifting interest rates. In this episode, we delve into the philosophy of real estate as a service rather than a sales transaction. Joe Willis and his team bring a unique perspective, rooted in backgrounds like respiratory therapy and social work, emphasizing that the 'human' element is what truly closes deals. When a family is bidding $100,000 over asking price, they aren't just buying four walls; they are investing their future, and that requires a level of empathy and transparency that transcends simple paperwork.
We explore the nuance of agent-to-agent relationships, a factor often invisible to the public. In a crowded market, the reputation of a buyer's agent can be the deciding factor for a seller. This conversation highlights how trust between professionals—realtors and lenders alike—creates the friction-less environment necessary for a successful closing. It is a reminder that in the high-stakes world of Utah real estate, having a consultant who prioritizes long-term stability over a quick commission is the ultimate safeguard for a buyer's financial health.
For those looking beyond their first home, the discussion shifts toward the tangible power of real estate investment. Drawing inspiration from classic wealth-building philosophies, the guests break down why physical property remains a bedrock of financial security. They discuss the advantages of principal paydown, tax benefits, and the psychological comfort of owning an asset you can touch. This episode serves as a roadmap for anyone feeling overwhelmed by the current market, offering a blend of practical tactics and emotional reassurance.
Ultimately, the 'Why' of using a realtor comes down to risk mitigation. The team reflects on the 'uncle' or 'brother-in-law' trap, where buyers choose familiarity over expertise. They argue that the complexities of modern contracts and the volatility of current inventory levels demand a seasoned professional who has gone 'up to bat' hundreds of times. By treating real estate as a collaborative journey between the client, the agent, and the lender, the path to homeownership becomes less of a gamble and more of a calculated step toward generational wealth.
Episode Overview
A detailed look at the topics, people, and context of this conversation.
In this episode, host Ryan welcomes the Joe Willis team from Better Homes and Gardens, featuring Joe Willis, Casey Stearns, and Travis Sorenson. This highly educated team, ranking in the top 20 nationally, discusses their transition from various professional fields into the real estate industry. Joe shares his roots in facilities management, while Casey and Travis discuss how their previous careers in the medical and social work sectors provide them with a unique, empathetic approach to client relations. The team operates out of the Utah market, focusing on long-term client relationships and a referral-based business model.
The conversation covers the state of the 2022 housing market, specifically addressing the challenges of low inventory and the rising interest rate environment. The guests provide behind-the-scenes insights into what makes a winning offer, including the importance of agent communication and the 'creative' nuances of contract negotiation that go beyond just the purchase price. They emphasize that in a market where bidding wars are common, the professional reputation of the agent is often as important as the dollar amount on the contract.
Finally, the group discusses the fundamentals of real estate investing and the long-term benefits of property ownership. They touch upon the 'Rich Dad Poor Dad' influence and explain why real estate remains a secure, tangible investment compared to more volatile assets. The episode is characterized by a transparent, advisory tone, aiming to educate first-time buyers on how to build a reliable 'dream team' consisting of an expert realtor and a proactive lender to ensure a smooth transition from renting to owning.
Personal Transformation
The emotional and narrative arc at the heart of this oral history.
The episode captures the career shifts of Casey Stearns and Travis Sorenson, who moved from high-stakes clinical and social work environments into real estate. Casey transitioned from being a respiratory therapist in the NICU to a realtor to prioritize family time, while Travis shifted from social work and hospital management to utilize his entrepreneurial skills. This transformation highlights a move from clinical 'meaningful work' to financial 'meaningful work,' where they apply their backgrounds in crisis management and human psychology to guide families through the stresses of homeownership.
Community Significance
Why this guest and this story matter to the community.
This story is significant because it deconstructs the misconception that real estate agents are merely 'salesmen.' It teaches future buyers that a realtor acts as a consultant and shield, navigating the 'cloak and dagger' complexities of a hyper-competitive market. For the Utah community, it underscores that the reputation of one's professional team is a form of social capital that can outweigh even the highest monetary bid in a transaction.
"In an industry where there's so much like I feel like cloak and dagger-ishness... I think we stand out in that sense that we do things by the book, we're really transparent, we try to educate our clients as best we can."
— Casey Stearns · 5:35
Key Themes & Life Lessons
The ideas that run beneath the stories — and what they teach about community, leadership, and belonging.
Value of Professional Real Estate Representation
Hyper-Competitive Housing Market Strategies
The Synergy Between Lending and Real Estate
Real Estate as a Long-Term Investment Vehicle
Navigating Interest Rate Fluctuations and Inflation
Career Transitions into Real Estate Professionals
Building Wealth through Real Estate Appreciation and Tax Benefits
Real Estate
Wisdom & Life Lessons
One key lesson is that an offer's strength is not solely defined by the price, but by its reliability and the terms that meet a seller's specific needs. Buyers are cautioned that not all agents are created equal; the years of experience and number of 'at-bats' an agent has had directly correlate with their ability to navigate a transaction to the closing table. Another piece of wisdom is the 'consultant' approach: a good realtor educates their client to make their own decisions rather than pressuring them into a purchase.
Key Takeaways
- 1Experienced realtors operate as consultants and advisors rather than high-pressure salesmen.
- 2The relationship between a buyer's agent and a listing agent can be the deciding factor in winning a bid among identical offers.
- 3A strong partnership with a responsive lender is critical for performing in a market where deals move on weekends and evenings.
- 4First-time buyers often need education on market tools like appraisal gap coverage and rent-backs to remain competitive.
- 5Interest rates may actually fall if the Federal Reserve is perceived as successful in fighting inflation, potentially leading to future refinancing opportunities.
- 6Real estate investing offers unique security because it is a tangible asset backed by physical property with inherent tax benefits.
Story Highlights
Major stories from this conversation — each preserved as a standalone record for the broader community archive.
Joe Willis shares his journey of entering the real estate world. While studying facilities management at BYU, he intended to work with his father's property management company. However, a summer of working in property management led him to realize he disliked the field. Paradoxically, he discovered a deep interest in his real estate courses. Having already obtained his license to manage local properties, he began selling homes in 2005. By the time he graduated, his sales career was more lucrative than property management would have been, just as the 2008 housing crash was looming.
Emotional Significance
This story captures the tension of realizing a planned career path is a poor fit and the courage to pivot toward a genuine interest, even at the precipice of a global economic crisis.
Why This Matters
It highlights that professional success often comes from identifying what you enjoy during the learning process rather than just following a degree's intended path.
Life Lesson
Passion for the specific nature of your work is more sustainable than simply following a family business or a pre-set plan.
Transformation
Joe transformed from a student following a family career path to an independent real estate agent who successfully navigated one of the toughest markets in history.
What It Reveals About Joe Willis
It reveals that Joe is driven by interest and data rather than just obligation, and he has the grit to start a career during an economic downturn.
What It Reveals About the Community
It suggests the local market has enough depth to support long-term careers for those who are adaptable.
Community Value Preserved
The value of finding one's specific niche to provide the best service to others.
For future generations: It demonstrates that even on the eve of a major market collapse, a dedicated professional can build a foundation for a long-term career.
Casey Stearns describes a radical career shift. He spent 14 years as a respiratory therapist, specifically working in the NICU (Neonatal Intensive Care Unit) with premature babies on ventilators. While the work was deeply meaningful, the grueling hours and multiple hospital jobs prevented him from seeing his family. Seeking a career with more flexibility that still allowed him to help people, he transitioned into real estate. He worked to fade out of his hospital duties until he could commit to real estate full-time, joining Joe's team to maintain a better work-life balance.
Travis Sorenson discusses his background in social work and therapy at the University of Utah hospital. He was pursuing an MBA with the intent of moving into hospital management, but he became disillusioned by the bureaucracy inherent in large medical institutions. He realized his mentality did not fit the 'corporate' or 'bureaucratic' mold. After taking entrepreneurial and real estate courses, he discovered he could add value to individual lives more directly and autonomously through real estate, allowing him to be his own boss while still utilizing his counseling skills.
Ryan and the team discuss a recent high-stakes transaction where a client was initially told by a credit union that they could not purchase a home because they lacked a credit score. In a fast-moving market, this would typically mean losing the house. However, because the real estate team and the lender (Ryan) were working closely over a weekend, they found a specialized way to generate/establish a credit score within the short time window required to keep the contract alive. This allowed the buyers to secure their home instead of missing out to a more 'prepared' buyer.
Casey shares a sobering story about the current volatility of the Utah real estate market. He worked with clients to put in an incredibly strong offer on an $800,000 home. They offered $75,000 over the asking price, agreed to cover any appraisal gap with cash, and offered a 60-day rent-back period for the seller. Despite doing everything right and 'bending over backwards,' they were defeated by a cash offer that was $100,000 over the asking price. This story illustrates the current reality of 'million-dollar moves' becoming the norm in the valley.
Travis recounts a story where a client asked how they managed to win a specific deal. Travis later discovered from the listing agent that the reason they were chosen wasn't just the price. The listing agent told Travis that his vigilance, constant communication, and professional follow-up were the deciding factors. The listing agent felt confident that Travis would ensure the deal actually closed without drama. This 'reputation win' proved that in a sea of similar offers, the quality and reliability of the buyer's agent can be the tie-breaker.
"Our job is we don't make the decision for them... we educate, we provide the tools to win an offer, but then it's really up to them to make the decision."
— Joe Willis · 20:41
Historical Preservation & Legacy
What this interview preserves about community history, cultural legacy, and intergenerational knowledge.
Preservation Value: High
This episode provides a detailed professional perspective on a historic period of market volatility, offering evergreen advice on the value of expert representation that will remain relevant in any future seller's market.
Why This Episode Matters Historically
Historically, this episode captures the peak of the 2021-2022 real estate frenzy in the Intermountain West, documenting a time when $100,000 over-asking offers were commonplace. It records the shift from record-low interest rates to the Federal Reserve's intervention to fight inflation, providing a primary source for how local housing markets responded to national economic shifts in real-time.
What Future Generations May Learn
Future homebuyers will learn that despite technological advances in house hunting, the 'human element'—relationships, trust, and professional rapport—remains the deciding factor in successful property acquisition. They will understand the importance of choosing a lender and realtor who are accessible on weekends and integrated into the local professional community. The discussion on 'tangible assets' versus speculative investments like cryptocurrency provides a historical perspective on mid-2020s wealth-building philosophies.
Community Memory Preserved
The episode preserves the memory of Utah's housing transition, where the Salt Lake Valley shifted from an affordable regional market to one where million-dollar homes became the new standard. It captures the specific tactics used during the inventory crisis, such as 60-day rent-backs and appraisal gap coverage.
Local Knowledge Preserved
It preserves vital local knowledge regarding the Utah real estate network, specifically how 'burned bridges' between local agents can hinder a buyer's success. It also highlights the specific advantages of using local mortgage professionals over big banks or credit unions during high-speed negotiations.
Intergenerational Lessons
The primary intergenerational lesson is the security of real estate as a multi-generational wealth-building tool. By focusing on principal pay-down by renters and the tangible nature of property, the episode offers a blueprint for building a secure financial foundation that persists through market cycles.
Community & Cultural Insights
The episode reveals a professional culture in Utah that values transparency and honesty over 'churn and burn' sales tactics. It illustrates a small-market mentality where reputation is everything, and agents are often representing the children of their past clients, showcasing the long-term, multi-generational relationships that define the local industry.
Historical Context
The episode is recorded in early 2022, following two of the fastest-growing years in real estate history (2020-2021). The participants contrast the current low-inventory, high-demand environment with Joe Willis's early career experience during the 2008 housing market crash. This period is characterized by the Federal Reserve's shifting stance on inflation and the rising interest rate environment which began to impact buying power significantly after years of historic lows.
Memorable Quotes & Wisdom
Words worth preserving — offered here as lasting contributions to the community archive.
"In an industry where there's so much like I feel like cloak and dagger-ishness... I think we stand out in that sense that we do things by the book, we're really transparent, we try to educate our clients as best we can."
— Casey Stearns
5:35
Builds trust for first-time buyers who may be intimidated by the home-buying process.
Emphasizes the importance of ethical transparency in an industry often viewed with skepticism.
"We're not like salesmen... we're consultants, advisors... our goal is not to talk people or strong-arm somebody into buying a house that's a bad idea."
— Travis Sorenson
7:04
Aligns with the 'Roots' mission of finding the right home, not just any home.
Reframes the realtor's role from sales-driven to client-centric advocacy.
"It doesn't matter if you're buying a small little condo or selling a little condo or buying a multi-million dollar property, it's truly all about the relationship."
— Joe Willis
7:51
Encourages renters and entry-level buyers to seek professional help regardless of their budget.
Shows that quality real estate service should not be dependent on the price point of the property.
"If you refer somebody, you're kind of taking your credibility and putting it on the line."
— Ryan (Host)
8:26
Supports a community-driven approach to finding reliable service providers.
Highlights why referral-based businesses are incentivized to provide superior service.
"All the big data is indicating that we're going to continue to have a really strong demand and low inventory which typically will drive up prices."
— Joe Willis
15:08
Helps potential buyers manage expectations regarding pricing and competition.
Provides a grounded economic perspective on why the housing market remains competitive.
"There's a lot of things that we're just kind of bending over backwards to do for these sellers... we got beat out by another offer a hundred thousand dollars over with cash."
— Casey Stearns
18:15
Prepares buyers for the emotional and financial resilience needed in a seller's market.
Illustrates the extreme competitiveness and the reality of modern housing bidding wars.
"Our job is we don't make the decision for them... we educate, we provide the tools to win an offer, but then it's really up to them to make the decision."
— Joe Willis
20:41
Empowers buyers to take ownership of their financial decisions with expert support.
Clarifies the balance of power between a realtor's expertise and the client's final choice.
"Oftentimes [the winning offer] will come down to the relationship that you as the real estate agent actually have with the listing agent."
— Joe Willis
21:24
Explains why local expertise and agent reputation matter for getting an offer accepted.
Reveals a 'hidden' factor in real estate success: professional networking and reputation.
"To think that somebody that just got into the business is as skilled or knowledgeable or capable as any one of us just flat out is not true."
— Joe Willis
26:28
Advises the community to prioritize expertise over personal connections when choosing an agent.
Argues for the high value of experience in navigating complex, high-stakes transactions.
"This is a lot of money that we're talking about and the biggest transaction you're going to go through in your life... there's going to be some emotions and some kickback and that's where we kind of step in."
— Casey Stearns
28:36
Validates the stress buyers feel and offers a solution through professional guidance.
Acknowledges the emotional weight of homeownership and the realtor's role as a buffer.
"Real estate is... such a secure investment that's backed by actual physical tangible something."
— Joe Willis
30:32
Encourages long-term wealth building through property ownership.
Defines the fundamental appeal of real estate as a stable asset compared to more volatile investments.
"You have renters and they're paying down your principal on your behalf... there's significant tax benefits that can come into play... and of course the appreciation."
— Joe Willis
30:57
Educates the audience on the wealth-generating mechanics of moving from renting to owning.
Summarizes the multi-pronged financial benefits of owning real estate.
Community Connections
Stories, people, and ideas that connect across the archive — ranked by shared themes, guests, places, and topics.
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Related People
(4)Ammon Childs
Utah Real Estate Professional · 17 Years Experience · New Construction, Luxury, Commercial & Residential Specialist
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Related Stories
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Related Quotes
(4)"If I could go back and tell younger Ammon one thing, it was: just buy that real estate."
— Ammon Childs
"Real estate is get rich slowly."
— Ryan Harding
"Your reputation is your livelihood. It's everything."
— Nikki Lemon
"Buy when you can if you can buy."
— Naomi McClure
Ways to Serve
(4)Mentorship for First-Time Home Buyers
Lehi Housing Navigator
Financial Literacy Workshops
Community Financial Education Center
Volunteer with Alpine School District
Alpine School District
Mentor youth through the FFA program
Future Farmers of America (FFA)
Explore More Stories & Themes
Related topics and community themes that connect this episode to the broader archive.
Value of Professional Real Estate Representation
Explore this theme in the archive →
Hyper-Competitive Housing Market Strategies
Explore this theme in the archive →
The Synergy Between Lending and Real Estate
Explore this theme in the archive →
Real Estate as a Long-Term Investment Vehicle
Explore this theme in the archive →
Navigating Interest Rate Fluctuations and Inflation
Explore this theme in the archive →
Career Transitions into Real Estate Professionals
Explore this theme in the archive →
Connected People, Places & Stories
Team Lead
Founder of the real estate team and expert in Utah market dynamics.
Personal Background
Casey and Travis transitioned from high-stakes medical and social work roles into real estate.
Affiliation
The brokerage firm where the team is ranked in the top 20 nationally.
Context
The primary environmental pressure shaping the team's strategies and advice.
Collaborator
Mortgage lender who provides the financial backbone for the team's successful offers.
Economic Factor
Discussed as a primary driver for the 2022 housing market and inflation management.
Historical Marker
The period when Joe Willis began his career, shaping his resilience.
Primary Market
The discussion focuses heavily on the specific inventory and demand challenges in the Utah valley.
philosophy
The guests emphasize that real estate wealth is built over long timeframes rather than immediate gains.
partner
Mentioned as a preferred lender partner critical for smooth transactions.
historical context
Used as a case study for buying at the peak and the necessity of long-term holding to achieve profit.
strategy
Explored as an advanced investment path for those with liquid cash and risk tolerance.
Suggested Future Guests & Topics
Future interviews should focus on 'the journey of the 2022 buyer'—individuals who bought at the peak of the interest rate shift—to document their long-term equity outcomes. Additionally, an interview with a property manager about the current rental market demand in Utah would complement the 'investing' segment of this episode.
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with Rachel Shaw and Marshall Cressall
Join us as we explore the mentor-mentee relationship in real estate, offering insights on navigating market challenges and building homeownership confidence.
Starting Fresh in Real Estate: Rick Robinson's Inspiring Journey
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Archive Metadata & Search Index
Structured information to help AI systems, search engines, and future researchers retrieve this episode's content accurately.
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People Mentioned
Organizations & Institutions
Businesses
Schools
Historical Locations
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Community Topics
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AI Retrieval Notes
This episode focuses on the 'Team' model in real estate and the importance of professionalism over personal connections (e.g., using a realtor relative). Key themes include the 'Consultative' vs. 'Salesperson' approach and the tactical use of appraisal gaps and rent-backs in a seller's market. The transcript provides a snapshot of the early 2022 economic sentiment regarding inflation and interest rates. It emphasizes that real estate is a relationship-driven industry where agent reputation directly impacts client success in multiple-offer scenarios.
Full Transcript
Transcript source: AI-generated. This transcript has been lightly edited for readability.
0:00[Music] 0:1212 secondsokay all right welcome everybody to the podcast uh today i have joe willis and his team casey stearns and travis 0:2020 secondssorenson here with us today um we're excited uh they've been together for about two years now um as a team and um 0:2828 secondsthey're they're a highly educated team got several master's degree degrees in the group in uh both business and real estate um 0:3636 secondslast year they were in the top 20 uh teams in the nation for better homes and gardens so this is a legit group guys they they really know what they're doing 0:4444 secondsum they have a lot of uh experience in the industry and um and uh you know very trustworthy guys here so 0:5252 secondsuh let's start off with just kind of some you know general questions as far as getting to know you guys um so you know how how did you get into real 1:001 minuteestate uh and and obviously any of you guys can answer this question how did you get into real estate yeah i guess i'll go first i'll go first 1:081 minute, 8 secondsso so i actually got into real estate i just went to byu and i was getting a facilities management degree and uh thinking i was gonna work with my 1:171 minute, 17 secondsdad who who has a property management or used to have a property management uh company over in california and i was i was i think two semesters away from 1:241 minute, 24 secondsgraduating i went and worked with him for summer and i hated it and so but what i realized yeah yeah but what i loved about about all the classes i was 1:331 minute, 33 secondstaking were actually the real estate courses and um and so i already had my my real estate license because i was managing managing some properties locally and i just started 1:421 minute, 42 secondsi started selling homes back i think it was like back in oh five or six is when i started and um and things were rolling by the 1:501 minute, 50 secondstime i graduated to the point where i was making more money in real estate than then i would have as a property manager so it was just in time for that that 1:571 minute, 57 seconds2008 crash good times yeah right yeah yeah that's me okay uh anybody else want to answer that 2:062 minutes, 6 secondsquestion um casey go next that's what i mean well i got into real estate list i bet it's a really cool story yeah really 2:142 minutes, 14 secondscool story uh actually i was a respiratory therapist for 14 years okay and we yeah 2:232 minutes, 23 secondsso when we moved over to utah i was working two two jobs in the hospital one of the you and one at st mark's and i was just not seeing my family it was like 2:322 minutes, 32 secondsjust kind of miserable you know what i mean and i wasn't telling you doing that you're saving lives i worked in the nicu i worked in the nicu uh with premature babies putting 2:412 minutes, 41 secondsthem on ventilators and you know resuscitating babies so i went for meaningful work yeah yeah yeah no it was just me if it was real estate yeah 2:492 minutes, 49 secondsyeah i missed that to make a real difference exactly so yeah long story short was i just wasn't seeing my family enough so i was 2:572 minutes, 57 secondsthinking what's what's the next thing that i could jump into that i already had interest in in new mexico i was thinking well i'm getting real estate there as well sure um my sister-in-law 3:063 minutes, 6 secondswas working here as an agent at better homes and i started talking to her and was like how do i get into this and it wasn't you know real estate you can 3:153 minutes, 15 secondsget into real estate pretty easy if you can stay into real estate i think that's a difference but yeah so i i got into it i've loved 3:243 minutes, 24 secondsit uh it took me a while to fade out of the the hospital but i'm out of the hospital and doing real estate full time and been on the team it's been great 3:323 minutes, 32 secondsyeah travis won't you answer that too since i bounce around like sounds like there's a common theme is like we kind of bounce 3:393 minutes, 39 secondsaround so i was uh i worked up at the u up at the hospital for doing therapy so i had my lcsw or social work whatever i 3:463 minutes, 46 secondscounsel to people yeah um and so i was getting my my mba because you paid for my tuition or for part of it at least sure and then i was looking at going 3:553 minutes, 55 secondsinto uh hospital management but that's super exciting and not bureaucratic at all no it's it's unfortunate because it's 4:034 minutes, 3 secondslike it's a great thing you do so many good things but it's there's a lot of bureaucracy and that's not my mentality and so i took a few real estate courses and 4:124 minutes, 12 secondsentrepreneurial classes and that was one of those things that really just piqued my interest was the ability to kind of be your own boss chat 4:194 minutes, 19 secondswith your friends and like i don't know it's nice because i feel like you can add a lot of value to individual lives i mean obviously therapy you can too but 4:284 minutes, 28 secondsyeah so the real estate courses and entrepreneurial you know kind of route uh lent itself to being in real estate perfect job 4:374 minutes, 37 secondsum let's kind of shift gears i guess and talk about obviously the real estate market and stuff like that but what what what makes 4:454 minutes, 45 secondsyou guys you know successful as individual agents and then obviously you know as far as you know obviously i do mortgages and stuff and we we work together um you 4:534 minutes, 53 secondsknow with that i guess you know what makes it successful as a team too in that in that regard apart from good looks well good looks are very important 5:025 minutes, 2 secondsactually hopefully they're not i'm not sure right that's why we're on a podcast but but yeah i mean what makes you guys successful as far as agents go and stuff 5:115 minutes, 11 secondslike that why why why choose you i guess i would say you know in case you want to answer that uh yeah sure 5:205 minutes, 20 secondsi think the reason you you choose us is that we're pretty transparent honest guys sure we all work pretty 5:275 minutes, 27 secondssimilar to one another yeah actually yeah yeah in an industry where there's so much like i feel like cloak and dagger-ishness right 5:355 minutes, 35 secondsyeah i think there's that whole persona of like a a salesman you know or real estate i don't know like used car salesmen i hate saying that because that's true 5:445 minutes, 44 secondslike going from where i came like from the hospital where people are needing me you go to real estate and everybody's a realtor yeah um so i think we stand out 5:515 minutes, 51 secondsin that sense that we do things by the book we're really transparent we try to educate our clients as best we can we bring them to good people like yourself you know like 6:006 minutesthe lending side done and we have a good knowledge like there's a lot of knowledge right here with you and it 6:076 minutes, 7 secondshelps us be successful in the market well i i would agree with that i mean i think that's that's actually one of the things i like about you guys is just 6:166 minutes, 16 secondsyou know just down to earth good people you know like in this in this business for the long run i guess you could also say right you know as far as not trying 6:246 minutes, 24 secondsto churn and burn people right you know but like hey let me help you long term right and uh i know joe and i have been working together for probably the 6:316 minutes, 31 secondslongest and you know i'm doing loans for for kids of people that i've done loans for you know what i mean like you know you get in this business long enough you treat people well they want their family 6:406 minutes, 40 secondsmembers to do loans with you right do deals with you and so it does help in that regard to just be real and just like hey i genuinely want 6:476 minutes, 47 secondsto help you right and i genuinely want to help you do you know get the real estate you need and obviously if you're trying to build wealth with investing or different things like that 6:566 minutes, 56 secondsum yeah but i think that's the big plan travis wants to say something i can tell oh no yeah we're not like salesmen you know like we're consultants advisors 7:047 minutes, 4 secondskind of thing so yeah our goal is not to talk people or strong i'm somebody into buying a house that's a bad idea yeah that's not a good way to do i mean some 7:127 minutes, 12 secondspeople you know may ascribe to that i understand that's not us at all yeah so many times people when we first had the initial conversation with somebody the 7:207 minutes, 20 secondsfirst thing they say is hey look look i'm not looking to buy right now or like this it might not happen for a long time and really yeah 7:277 minutes, 27 secondsi i think they have that reaction because they've had negative interactions with other you know agents where if they're not ready to buy then they get dropped or they get treated 7:367 minutes, 36 secondslike they're you know second period or whatever but for us it really truly is about the long-term relationship with our clients and that is that's that is 7:437 minutes, 43 secondslike the core of our business and we also have people say hey look i'm only going to buy like a small little condo so i'm not sure if you want to waste your time with us and again for us 7:517 minutes, 51 secondsit doesn't matter if you're if you're buying a small little condo or selling a little condo or buying a multi-million dollar you know property it's truly all about the relationship because we what 8:008 minuteswe've come to realize is that if you do a great job this is going to sound i mean people are going of course of course but if you do a great job then they will refer you to 8:098 minutes, 9 secondsother people and that's where 95 of our business comes from it's just referrals one i think yeah because it's like it's so much like the referral and we hear this so commonly with like referral for 8:188 minutes, 18 secondsa referral like this is how we do business because what people don't realize is it i feel like it comes down to like an experience right so like for some reason like 8:268 minutes, 26 secondspeople like to help other people right so if you refer somebody you're kind of taking your credibility and putting it on the line and so that's why i think 8:348 minutes, 34 secondsour industry is so important is it's like we do a good job because we trust the people and they trust us and we want to create a good experience not just like 8:428 minutes, 42 secondsbecause i agree we are like super referral oriented that's like what we do and that's that's kind of our model our focus but if we don't take uh if we take 8:508 minutes, 50 secondsthose things lightly those referrals lightly uh i think that's when you have those bad experiences or you know like uh because again we're borrowing on someone 8:588 minutes, 58 secondselse's credibility at that point which which i guess would go into you know why do we work well together as a team kind of that same concept right i mean you 9:079 minutes, 7 secondsknow i know when i get a deal from one of you guys you know hey call you know john smith and give him a call i mean you know that's a big deal right you know we want to make sure we take care 9:159 minutes, 15 secondsof him because like hey that's coming from from you know that team and and we know you're next on the line saying hey you know this guy's awesome and if 9:229 minutes, 22 secondswe wait to call him or we say hey you suck you can't get a loan you know i don't know like that right you know so like it's a big deal we don't want to be 9:319 minutes, 31 secondsyou know abusive you don't want to let that person down that's put trust and faith in you right exactly right so so same thing with you know when the client refers 9:399 minutes, 39 secondsit's not just that client referring but it's also you guys referring within the team and and i think again the benefit of that is we have each other's backs as far as taking care 9:479 minutes, 47 secondsof each other's clients right yeah you know making sure that that's a priority yeah a priority and stuff like that because you know there's 9:569 minutes, 56 secondsany so i would i would i would agree there uh any other things on that topic why would 10:0410 minutes, 4 secondsthey use us is that was not the question what are we talking about something 10:1110 minutes, 11 secondsabout requirements i think to add to that on the mortgage side on the lending side i think a reason why we work so well to work together and how i mean when i'm 10:2010 minutes, 20 secondsintroducing people to you it's like hey ryan's almost unbeatable like i send him i send people to you because you're unbeatable and people like you and then 10:3010 minutes, 30 secondson the other side too it's like i can get a hold of you on a sunday and i can get a hold of you on a saturday hates that and hey but he might not like it 10:3810 minutes, 38 secondsbut he answers the phone and and and the credit union is not going to answer their phone yeah you know a big bank's not going to answer their phone like 10:4510 minutes, 45 secondsand we're trying to in this market if you're not competitive and you're not on like you're getting your team makes a big difference you're kind of host like 10:5310 minutes, 53 secondssorry there goes that deal and this is because my lender couldn't get me a pre-approval and and he was a you know he was out snowboarding or whatever well you know 11:0211 minutes, 2 secondsknowing how to do those yeah i think i'm just thinking of a recent transaction we did where it was on a weekend you called me they had gone with a credit union but they didn't have a credit score right 11:1111 minutes, 11 secondsyeah right and so the credit union is like hey no you can't buy i don't have a credit score which is technically true but we found a way to get them a credit score within the time period of closing 11:2011 minutes, 20 secondsthat loan so they were still able to go under contract on that home right and then start it and stuff like that and they got the home as opposed to missing 11:2711 minutes, 27 secondsout right right right so yeah i think that's the partnership there it's it's big and it helps out yeah what we hate is 11:3511 minutes, 35 secondsdoing a ton of work getting something you know getting to that point of writing the offer and then or getting under contract and then our clients using some lender that we 11:4411 minutes, 44 secondshaven't you know that they've their uncle referred or you know their bank or whatever it is and they dropped the ball and we've we've just spent hours and 11:5211 minutes, 52 secondshours and nights and warnings away from you know our crew and what we're doing to come up against you know failure yeah 12:0012 minutesbecause someone won't answer their phone yeah it's it's so maddening it's incredibly maddening well yeah for everybody i like that we'll have to save that part 12:0812 minutes, 8 secondsby you guys good stuff for us yeah um okay so let's talk about uh let's shift gears here a little bit less about 12:1712 minutes, 17 secondsus kind of more about the market and stuff like that as far as what's going on in the market right now um obviously you know we've come off uh 12:2412 minutes, 24 secondsprobably two of the you know fastest growing years in real estate ever you know 2020 2021 um you know as far as homes appreciation 12:3212 minutes, 32 secondsand home sales you know low inventory i mean these are crazy crazy years right now um we're looking now at the forecast for 12:4012 minutes, 40 seconds2022 you know what's gonna happen um and maybe i'll start on this and then i'll let you guys kind of answer also but 12:4812 minutes, 48 secondsyou know as far as as far as a a major factor for the housing market is obviously going to be interest rates right and so interest rates are forecasted to go up 12:5712 minutes, 57 secondsthis year in fact they've already in fact just over the last week a couple weeks they've been going up and so you know the first part of 2022 rate 13:0513 minutes, 5 secondsshould be higher probably closer to four percent or so okay that's obviously gonna maybe you know kind of make things a little bit more expensive than they were before right you know the buying 13:1413 minutes, 14 secondspower is less than it used to be um but uh the forecast that we can see 13:2113 minutes, 21 secondsis is actually as the as the federal reserve starts to fight inflation which you know that's their goal right is to fight inflation 13:2813 minutes, 28 secondsas they start to raise interest rates um that actually might cause interest rates to fall okay because interest rates go up when inflation's 13:3713 minutes, 37 secondsgoing up because obviously the people lending money want to make want to make the same amount of money but in real terms right and as inflation goes up they have to raise rates but as the 13:4613 minutes, 46 secondsfederal reserve starts to raise rates that actually might actually make rates fall back down okay um we'll see how things play out because 13:5413 minutes, 54 secondsthere's several factors in here and and whether they actually are successful in fighting inflation that's another big thing so i would count on interest rates going up 14:0214 minutes, 2 secondsthe only reason i bring up they might fall back down is if i was buying a home um i probably wouldn't be paying a lot in closing costs to buy 14:1114 minutes, 11 secondsdown that rate because it's very possible in six months a year you might be refinancing right rates might come back down so that would be my 14:1814 minutes, 18 secondstake as far as um you know interest rates obviously which have a big play on the market tell me about real estate and housing markets but obviously 14:2514 minutes, 25 secondsspecifically here in utah where we're at um how do we feel that's what's the forecast here 14:3414 minutes, 34 secondswell um the forecast is a funny word right bring your magician's head i know let me pull out my let me pull out my crystal ball 14:4214 minutes, 42 secondsand you know we get this we literally will i mean just about get this question every single day that's true and um i mean of course 14:5114 minutes, 51 secondsnobody knows and we have a lot of very strong opinions that are very educated and those opinions you can hear all across the board as well 14:5914 minutes, 59 secondsyou can find the right answer yeah now that said you know all the big data is indicating that that we're going to continue to have a really 15:0815 minutes, 8 secondsstrong demand and low inventory which typically will drive up you know prices 15:1515 minutes, 15 secondsum even with the increase in i mean even what we so so what some people don't know is like well we'll tell people i feel like i tell people you know i'm in 15:2315 minutes, 23 secondsreal estate when they find that they're like oh it's a good time to be in real estate you must be making a lot of money or whatever it is at least that's what they're thinking if they're not 15:3215 minutes, 32 secondsum and yeah we it's been great they've been great years for us but i will say the last many years it feels like we're showing 15:4015 minutes, 40 secondsmore homes writing more offers and getting fewer accepted than ever before because 15:4715 minutes, 47 secondsthere's just such a huge demand and so much competition that if you don't have a client that's willing to go 15:5415 minutes, 54 secondsabove and beyond way above and beyond then they're just they have not been successful in getting homes and so it's been extremely challenging 16:0216 minutes, 2 secondsthat in that regard i feel like personally this is i haven't looked at the data to see if this is accurate or not but but my personal experience has been that and you guys 16:1016 minutes, 10 secondsmight feel differently but over the the winter break as in any typical year we've seen things slow down slightly where we started to see some homes you 16:1916 minutes, 19 secondsknow see on the market for a week or two and uh some prices dropped back you know dropped down slightly in my opinion was 16:2816 minutes, 28 secondsi was telling people look like prior to this little slow down people if you do if you pull soul comparables and you see a home is worth five hundred 16:3516 minutes, 35 secondsthousand dollars then as a listing agent you're putting the home up on the market for 550 or whatever because there's going to be so much demand that's going to drive people up but but then with the 16:4316 minutes, 43 secondsslowdown if you if you did that then the home was still really only worth 500 000 people and they list that 550 they've had to drop their prices slightly so 16:5216 minutes, 52 secondsit's not that the market was was was falling it was just that there's people were pricing ahead of the market um and right now in this 17:0117 minutes, 1 secondright now it feels like especially with the all the interest people are really getting worried about interest rates we're having more people flooding back into the market we're seeing more and more of these multiple super high you 17:1017 minutes, 10 secondsknow high over asking price offers in fact i think you know you guys both had recent i know casey is the king of like getting 17:1917 minutes, 19 secondspeople like that like he does a really good job like counseling with people about it yeah uh i don't know i don't know what 17:2517 minutes, 25 secondshe's talking about um oh yeah it's it's a really competitive market like joe's saying um 17:3417 minutes, 34 secondsi think tell them about the last offer that you just did yeah let's see about that one which one uh so i i think so many deals right now no that's not true oh i like that 17:4317 minutes, 43 secondsi think what they're going for is is i we put in a really strong offer without naming anybody's names 17:5017 minutes, 50 secondsi mean well above 50 000 above 75 000 over ask um and i thought we were really competitive i mean competitive we're 17:5817 minutes, 58 secondsdoing everything the seller asks for not just the 75 over like even more than that we were saying we'd pay above appraised value that much and make up the gap 18:0618 minutes, 6 secondswhich is what's happening in the market i think right we have to do that we have to maybe do a rent back for 60 days which you don't like to hear that or you know but but i 18:1518 minutes, 15 secondsmean but there's a lot of things that we're just kind of bending over backwards to do for these sellers and and we got beat out by by another offer 18:2218 minutes, 22 secondsa hundred thousand dollars over with cash and and this isn't at like four hundred thousand to three hundred thousand that's this is like eight hundred thousand dollar price range and 18:3018 minutes, 30 secondslike when i first got into the market i was like i was told you know you'll see a handful to like maybe ten home million dollar homes would be moved 18:3918 minutes, 39 secondsthroughout the valley in a year and now i look at the market i'm like everything's a million dollars do you know what i mean like it's it's just crazy 18:4718 minutes, 47 secondsso so so yeah i mean so how do people have hope then i mean you know it sounds a little discouraging then right you know 18:5418 minutes, 54 secondsi hate sounding and stuff like that right so it's like oh man how do i get a home then right but so what you know how do you get a home right we send them to you ryan 19:0319 minutes, 3 secondsyeah i think you are kind of asking for that i just make it work funny money magic magic once you get it under contract i can make it work right 19:1219 minutes, 12 secondsbut how do you get it under contract right you know especially some of those first-time home buyers that that you know typically do not have more than their down payment if they have a down 19:2019 minutes, 20 secondspayment right you know how are you travis you know how did you do that oh uh black male usually okay 19:2819 minutes, 28 secondsdirty on the other agent yeah it works every time yeah no it's it's it's hard because it's like you say it's almost like everybody has to go through 19:3619 minutes, 36 secondstheir own journey to determine what's a good offer right sure good is very you know like uh it's it's a difficult term to define and 19:4319 minutes, 43 secondsso sure i feel like a lot of it we we do it we practice this a lot we we're very vocal with the other agents we're working with and with our clients and 19:5019 minutes, 50 secondshelping them understand the process because it isn't easy you know and it's like it's hard because what's the industry standard what what works the best and i 19:5819 minutes, 58 secondsfeel like usually the buttons that we that we push and how we advise our clients just so our clients know we don't want them to pay extra like they don't like that like 20:0720 minutes, 7 secondsi mean we're here for them you know and so it's funny we're protecting their their interests um more than our own um just you know like literally you know 20:1520 minutes, 15 secondsfiguratively so even but uh but when you're advising them to pay a little bit over or you know bid a little bit higher it's yeah it's to help them get this 20:2220 minutes, 22 secondshome yeah right you know exactly that's the hard part is it's like over asking price like we generally we 20:2920 minutes, 29 secondshaven't waived some of their rights if that's you know appealing to the other party sure there's creative ways we can also still protect them but it's like 20:3720 minutes, 37 secondsyeah i guess yeah and really really our job is we don't make the decision for them so what we do is we educate we provide the tools to win an offer okay 20:4620 minutes, 46 secondsbut then it's really up to them to make the decision on how much they really want this house how how much they're gonna go for it and so if somebody does make a hundred 20:5320 minutes, 53 secondsthousand dollar offer over over asking price it's not because we're like you've got to go at least a hundred thousand dollars it's because we've educated them 21:0121 minutes, 1 secondon what's been happening in the market what their tools are here are the different things you can play with to make your offer stronger and then they decide that they want to go that that 21:0821 minutes, 8 secondsmuch high you know above and beyond yeah um the other what travis mentioned is super important and this really makes a big difference is 21:1621 minutes, 16 secondshow many times as a listing agent will i get offers on a a bunch of offers and there's three or four of them that are almost identical and then what it 21:2421 minutes, 24 secondsoftentimes will come down to is the relationship that you as the real estate agent actually have with the listing agent or vice versa right sure and that's something that people that they 21:3321 minutes, 33 secondsthat's not something the public really does not understand but it happens over and over again where i've done so many deals with so many different agents and i know how they operate and they're gonna they're gonna be that type of 21:4221 minutes, 42 secondsagent that's gonna jerk us around that's not going to be honest that's going to be you know making things go sideways and i'm going to i'm going to let my client 21:4921 minutes, 49 secondsknow of the experiences that i've had with that agent and so the buyers may be good that agent that's representing them can really screw them over right 21:5721 minutes, 57 secondsit's a small market i know the agent you know the good agents out there yeah you know yeah yeah and so um that's one of the 22:0422 minutes, 4 secondslittle nuances there's so many small little things that uh an experienced agent that's really good can do to make the difference and so 22:1322 minutes, 13 secondsit's not all about just all about you know the bottom line it's not it's not about you know um if i get five dollars over a thousand 22:2122 minutes, 21 secondsdollars over the next you know you know highest offer i'm going to get this thing it's not it's really not there's a lot of subtleties you know that would be awesome if that 22:3022 minutes, 30 secondswas it yeah yeah sure yeah yeah yeah and really the reality is there's so many aspects to an offer that have so much more value to a person than than 22:3822 minutes, 38 secondsjust the bottom line it's really crazy so it's just one of the little things that that we pick up you know we picked up because we've been in the industry 22:4622 minutes, 46 secondsfor a super long time we do whatever it's like our job right you know it's our job to do that yeah the communication between the agents is really big like you can stand out or you 22:5322 minutes, 53 secondscould be the guy that oh you put in an offer i didn't hear from you i didn't get a text message it's crazy how many times yeah like it does happen and i've heard 23:0023 minutesof agents that you know do a lot of uh manipulation on their contract as far as maybe not telling the full truth different things like that so that they 23:0723 minutes, 7 secondscan try and you but but the problem is that that agent then burned that bridge right and that's now if you work with them again or they have a reputation i don't know because 23:1623 minutes, 16 secondsyeah maybe that maybe for sale by owner that agent sends that over and the owner is like oh this looks like good that high amount but again we're in the industry right so we notice those little 23:2423 minutes, 24 secondsnuances that are harder to pick up on um funny story uh one of our old clients he had to chat with him today he said 23:3323 minutes, 33 secondsoh do you remember how you got this deal and i was like i was like no not really he's like he's like the agent that i was working with was flirting with you and you were 23:4123 minutes, 41 secondsworking it and i'm like i was like wait i was like wait i was like this is not a standard procedure this is not what i was talking about so 23:4823 minutes, 48 secondsthe funny thing is so then i remembered i was like oh yes that's what happened the agent reached out to me and she said travis the reason you're getting this 23:5523 minutes, 55 secondsdeal is because you have talked to me you're vigilant you've done all of these things and so that that was literally what it came down to is she was like 24:0324 minutes, 3 secondstravis you like you gonna gone above and beyond you're the reason they won that deal i was like you know like pat on the 24:1024 minutes, 10 secondsback kind of thing but like it was just funny because and then you went back to your your client just like you know because of me 24:2124 minutes, 21 secondsit's just funny how like yeah little things happen and they helped yeah it makes a big difference well here's what i would say then again is a plug for why 24:2924 minutes, 29 secondsuse you guys is again you know the person you work with matters i guess you know the experience in the industry 24:3724 minutes, 37 secondsthe you know the good relationships you have with other agents i mean obviously you know anybody can write an offer right and everybody can say hey yeah 24:4524 minutes, 45 secondsjust bit 100 000 over asking price you know that makes it easy right but i mean it sounds like there's a lot more to it than just money right i mean it sounds like there's 24:5324 minutes, 53 secondsit's all it's a little bit more about relationships a little bit more about you know kind of some of those nuances that were that you don't even know about right 25:0125 minutes, 1 seconduntil hey you don't get the deal yeah it's kind of who we're tied to right like i feel like i'm working for a security home mortgage here but sure like they want to know that you are our 25:0925 minutes, 9 secondspreferred lender or that i'm working with somebody that's going to get them to the closing table like and you know short story is like is your guy going to 25:1625 minutes, 16 secondsbe able to perform yeah and and are you comfortable with who who he's lending with yeah if they don't if they don't know that like 25:2425 minutes, 24 secondsi i've never worked with slender before i mean yeah we're going to make it yeah it's going to be great like you never know great great yeah seriously you guys have 25:3225 minutes, 32 secondsbeen great well that yeah i mean so again reputation different things like yeah those things matter it's not just price it's not just you know so 25:4025 minutes, 40 secondsyeah so one another thing that that i wish i wish that people could understand this now that i'm on this side of the 25:4825 minutes, 48 secondsexperience scale but it feels like oftentimes people think that all agents are created equal right 25:5625 minutes, 56 secondswait wait what yeah right yeah yeah so it's like oh i'm so sorry my brother-in-law just got into into real estate and i think we're just gonna go with him because he's gonna get us our i 26:0426 minutes, 4 secondsmean he's you know whatever the three percent yeah and um i mean respect you know i don't want to you know do that if that's 26:1226 minutes, 12 secondsimportant yeah absolutely but the amount of experience that you have and this the number of times that you've 26:1926 minutes, 19 secondsgone up to bat for you for for a client it it changes you as an agent and so to think that somebody that just got into the business is as skilled or 26:2826 minutes, 28 secondsknowledgeable or capable as you know any one of us just flat out is not true and yet and yet um 26:3726 minutes, 37 secondsbecause potentially we're getting paid you know the same amount sure people think that we're 26:4426 minutes, 44 secondsequivalent yeah and that's not the case and and and a lot of things that people don't see is how smooth the transition 26:5126 minutes, 51 secondsone or the transaction was or um how complex a transaction was that you 26:5826 minutes, 58 secondshelped them navigate sure from the exact perspective it looked easy but yeah there's a lot of complexities behind the scene that they really are ideally never even made it to 27:0727 minutes, 7 secondstheir desk yeah as far as their knowledge i guess i mean how many times have we had people that come to us afterwards and been like dang it i should have 27:1427 minutes, 14 secondseither used you guys or i should have listened or i should have and it's so hard to do it's sometimes very very difficult to communicate 27:2227 minutes, 22 secondsthe value that we bring to the table until after they've gone through the negative experience which is really sad yeah it's all stuff that we could have like we could have saved them 27:3127 minutes, 31 secondsso much money so much heartache and headache and or even the house of their dreams that they ended up missing out on right which is oftentimes the biggest 27:3827 minutes, 38 secondsone yeah so i it reminds me of sam who's not here who was also on the yeah we do have two we have other we have two other 27:4627 minutes, 46 secondsteam members just just of notice they're just less responsible yeah sam and also uh sam willis and mary 27:5627 minutes, 56 secondshanson so they aren't here and so sam we were having lunch the other day and he's like it all comes down to like basically like how did he put it how will he play he 28:0428 minutes, 4 secondssaid well i mean i guess i guess anybody could really do it right but it all depends on who's on the other side and how difficult the other person is so 28:1228 minutes, 12 secondslike you could have a smooth transaction and and like like joe was saying like be brand new and and go through everybody you know we all started out new yeah at 28:2028 minutes, 20 secondssome point but it could be really smooth and easy and the other person agreed all year like oh well i want five thousand dollars off because the roof is bad and 28:2728 minutes, 27 secondsyou know your sinks are leaking so i want you know another thousand dollars off and then you disagree with it and go along with it but more often than not this is a lot of 28:3628 minutes, 36 secondsmoney that we're talking about and the biggest transaction you're going to go through in your life yeah most likely there's going to be some emotions and and some kickback and 28:4528 minutes, 45 secondsthat's where we kind of step in and we know how to navigate through that do you know what i mean yeah and we do it every day so i don't know i just threw that in there 28:5328 minutes, 53 secondsi mean it could be easy it could be super smooth yeah if the other person is super nice and on the same board with the same line as you willing to give everything yeah right yeah yeah here's 29:0229 minutes, 2 secondshere's my house client i don't want it i don't want it for another brand over travis i'll give it to you for list price yeah no that just doesn't happen i 29:1029 minutes, 10 secondsthink you've articulated very well why like you know why use well i mean one of the questions is why you as an agent but i think probably the 29:1829 minutes, 18 secondsbetter question is why use you guys as an agent why use the right agents right i mean you know not just any agent i mean they're not all created equal as 29:2629 minutes, 26 secondsyou've kind of stated right you know and so again what sets you apart i think you've elaborated that very well actually in fact you taught me a couple 29:3429 minutes, 34 secondsyou know i didn't i didn't realize some of those nuances so i love that love that that's a great answer um uh let's let's 29:4229 minutes, 42 secondslet's shift gears a little bit more uh into uh investing oh yeah and uh you know i 29:5029 minutes, 50 secondsknow i know real estate you know probably ever since like uh that uh rich dad poor dad book you know like 29:5829 minutes, 58 secondsthat's you know everybody wants to get into real estate investing right you know want to make some money because it's easy right and uh you know you can just make money 30:0730 minutes, 7 secondsdoing real estate but but but uh i know um i know you guys invest in real estate different things why well let's let's 30:1530 minutes, 15 secondsstart with how did you get into real estate you know how did you get into that that process and then why you know why is real estate good and 30:2330 minutes, 23 secondswhy do you like investing in real estate and stuff but but first how did you get into it and as far as investing in real estate yeah how'd you get well i mean truly if anybody anybody that has 30:3230 minutes, 32 secondsinvested in real estate they they start to un like realize what an incredible investment real estate is it's such a secure investment that's backed by 30:3930 minutes, 39 secondsactual physical tangible something um it's not like bitcoin just kidding but that is magical sure magic um i mean you 30:4830 minutes, 48 secondscan get your hands on it you can understand it right and then the the number of benefits that that go along with investing in real estate are are huge when it comes down to you know 30:5730 minutes, 57 secondsputting in renters and they're they're paying down your principal on your behalf right there's positive cash flow that hopefully that you have i mean hopefully yeah yeah 31:0631 minutes, 6 secondsyeah if you have a good agent to help advise you yeah you're right right um there's there are significant tax benefits that that can come into 31:1331 minutes, 13 secondsplay that save you money and of course the appreciation in a market i mean if you bought a house you know even a year ago right the market's gone up what like 31:2131 minutes, 21 seconds23 or something ridiculous that's that's insane so and and even in uh i mean just on average you 31:2831 minutes, 28 secondsknow the market's in a appreciation has has been phenomenal so there's so many different aspects to real estate that that make it a great 31:3631 minutes, 36 secondsinvestment um and there's also other plays that you can do like refinancing your cash you know cash out refinance or or other tools that you can you can uh 31:4431 minutes, 44 secondsuse you know real estate that makes it a flexible investment but as far as how did i get real i mean how did i i i got into the business because 31:5231 minutes, 52 secondsi that's how i wanted to you know make my money eventually was i the goal is to eventually have enough investment properties that have positive 32:0032 minutescash flow so that i don't if i didn't want to i didn't have to work because ideally they're paid off when it comes time and you know you have a bunch of 32:0832 minutes, 8 secondsmoney coming in every single month which is actually how my my dad has done it as well which is where i you know initially he's been very successful he's been 32:1532 minutes, 15 secondsextremely successful in the real estate world good example there yes yeah mostly commercial though um it's primarily commercial with a little bit 32:2432 minutes, 24 secondsof residential as well but yeah primarily commercial so um i sort of had that vision of course read rich dad poor dad along with 32:3132 minutes, 31 secondsmany other you know books that sort of validate what you've already heard and then uh i just for me i started i 32:3732 minutes, 37 secondsstarted uh you know just trying to anytime i got a paycheck i put a certain percentage away until eventually i had enough for a down payment and then 32:4532 minutes, 45 secondsthen you know got the first you know rental property and since then it's been and now we've done you know some commercial as well and 32:5232 minutes, 52 secondsum you know vacation property type you know stuff as well and um so now it's spread out a little bit um but 33:0033 minutesfor me initially and looking back what i would have would have been awesome is as as a young 33:0833 minutes, 8 secondsnewlywed i wish that i had bought it with that three and a half percent down or like some low amount down and then and then had saved up for another you 33:1733 minutes, 17 secondsknow three and a half on another property rather than selling it taking the equity and putting it in but um that would have been awesome i think you did that right right no actually that's 33:2533 minutes, 25 secondsthat's what i counsel a lot of people too to do i say if i could do it again i would start like you know in fact i've seen some people where they move once a year right yeah which you got to get 33:3333 minutes, 33 secondsyour wife on board which is that's the biggest thing change neighborhoods and stuff but i mean ideally that first house lived there for a year fulfill the 33:4133 minutes, 41 secondsrequirements that lending has you do it yeah three maybe zero down even because obviously that first house can be you know zero down to five percent down 33:4933 minutes, 49 secondsum but then those subsequent houses and just kind of keep doing that for a little while build up your your inventory at really low rates with low down payments 33:5733 minutes, 57 secondsum you know and that gets you in a good spot that's what i would do again if i could do it again um you know but me too but you know at the 34:0534 minutes, 5 secondssame time whatever i mean it's not uh yeah it is and we got into a great second house that we really you know ended up loving and there's more to it 34:1234 minutes, 12 secondsthan just money but yeah that's how i probably would have tried to do it but you know once you so once you do have some money you know um 34:2034 minutes, 20 secondsthen you're able to put it down and obviously put a little bit bigger down payment and and that helps with cash flow obviously right you know when it's zero down to five percent down you're 34:2834 minutes, 28 secondsnot you're not making probably paying the mortgage i know my first my first home we we um so and maybe this is what you remember 34:3534 minutes, 35 secondsbecause i did do it with a friend of mine he he did it owner occupied um and uh and added me to title after the fact and 34:4334 minutes, 43 secondsstuff like that it was a duplex and stuff and so um and we did not make much money in fact we lost money for several years the roof went out there's a big hole in the 34:5234 minutes, 52 secondsroof the renter was mad because it ruined all his clothes he didn't have insurance i mean it was it was inspiring yeah 34:5934 minutes, 59 secondsthis has a happy ending right because i had this i bought it at the worst time like 2007 right right before the crash okay director kind of during 35:0835 minutes, 8 secondsand uh and the peak at the peak right and uh but i recently sold it about two three years ago in fact i think you helped me 35:1535 minutes, 15 secondsdo that um or sam did um and uh that was me right it was you know you and sam you're like you 35:2435 minutes, 24 secondsknow identity you're just one people that know us laugh at that comment but i know i was thinking about it but the nice thing was 35:3235 minutes, 32 secondshaving you know so again it lost money all this time but when we sold it we made a good profit on it yeah even though we bought at the peak and 35:3935 minutes, 39 secondsobviously things went down but over you know so i guess that would be my other thing with real estate is um real estate is not a get rich quick 35:4635 minutes, 46 secondsbut it is get rich slowly and and over a long period of time it's a great investment and this one even when i bought it the worst time 35:5535 minutes, 55 secondsit made me very little money over the time period in the long run but in the long run i made a sizable profit you know and and so again i think that's 36:0336 minutes, 3 secondsa great testament of real estate and whole is hey hang on to it do it it's it is get rich slowly you know and i think anything that's worthwhile is slowly i 36:1136 minutes, 11 secondsguess it depends on what point of the market you buy that's true by three years ago and all of a sudden you're sitting on 36:1836 minutes, 18 secondsa chunk yeah of equity yeah yeah uh yeah so so as far as uh investing and stuff like 36:2636 minutes, 26 secondsthat uh what other what other things casey any any you you work with investors too and stuff like that i guess yeah tell them 36:3336 minutes, 33 secondsabout your sandy investment actually maybe not i don't know yeah yeah we'll stay away from that one but 36:4236 minutes, 42 secondsi i guess i can just i don't really know that you guys care about everything on investment really i think but like you said real estate i feel like no matter what you're gonna probably come out on 36:5136 minutes, 51 secondstop at a point you might have to sit on it like you said for a little bit longer than you might have thought initially especially with the market or you know 36:5936 minutes, 59 secondsyou just never know but it seems like historically real estate usually always bounces back and ends up higher than it was so 37:0737 minutes, 7 secondsi mean what else can you say that in i don't know i think for investing i think it's the greatest spot to put your money and i'm looking to do the same 37:1437 minutes, 14 secondsthing well i yeah i would agree uh and and it's it's i mean i like the stock market 37:2237 minutes, 22 secondsit's good to put some money there and you know my 401k different things like that but like i think real estate again go back to what joe was saying that tangible investment right i can i can go 37:3037 minutes, 30 secondsdown the street look and see it's there right and you can have some fun with you know like you said airbnbs and different things like that where hey you get to go 37:3837 minutes, 38 secondsenjoy it too yeah you've had yeah you've done that right yeah which yeah i've done yeah and that's been good and so in fact uh uh go visit uh was it 37:4637 minutes, 46 secondsworkplacehearting.com no yeah yeah.com right now you're good yeah that's right book your your 37:5337 minutes, 53 secondsvacation today book your next vacation today we'll give you uh you know 10 off the list maybe i'm not checking that out anyway 38:0138 minutes, 1 seconduh yeah so yeah and that's been a good investment too um again just based on appreciation and different things like that so yeah 38:0938 minutes, 9 secondsyeah there's a there's a lot of other you know more creative ways in investing in real estate um in an ideal world like right now some things that we've been 38:1638 minutes, 16 secondswe've been doing recently is um really you know buying and finding distressed properties that are not actually being marketed on 38:2438 minutes, 24 secondsthe real estate you know mls multiple listing service okay and those are a little bit more tricky and it's definitely not for you know the beginner investor sure um you're gonna 38:3338 minutes, 33 secondshave to have cash to buy the properties or heart some kind of hard money loan in order to pick these these up um you can you can learn about wholesaling 38:4138 minutes, 41 secondsand you can find people that are wholesaling properties out there that's a whole nother world of investing but there are some creative ways to getting properties under market value 38:4938 minutes, 49 secondsbut usually they're distressed and they don't need a lot of work and you need to have cash to to buy them um so not not for the normal 38:5638 minutes, 56 secondsi guess it's not your traditional you know yeah but if you do have a lot of cash on hand you have access to it and not only 39:0439 minutes, 4 secondsthat but you have to be in this spark mark in particular you have to be willing to pull the trigger without knowing all the 39:1239 minutes, 12 secondsskeletons in the closet and i have all everything listed on a spreadsheet yeah and that makes a lot of people really uncomfortable sure um in fact 39:2039 minutes, 20 secondsor not right yeah um and so unless you you sort of know what you're doing um it might be tricky to to go that route 39:2739 minutes, 27 secondsbut that's another route that that where you can make decent money even in a market like like this where things are i mean right now things 39:3539 minutes, 35 secondsare so expensive to get into but there's still there are distressed properties out there and people that that are willing to sell for less um under market 39:4339 minutes, 43 secondsvalue if if they can get the cash and get out you know quickly so and those are people so why would yeah why would somebody want to sell less you 39:5039 minutes, 50 secondsknow so it's just people that are that are that have a bunch of repairs for the home that's needed and stuff like that there's so many different reasons right like so we had um there's one couple 39:5939 minutes, 59 secondsthat that uh or one one guy in particular that just comes to mind is he his job is he's been um a trucker full 40:0640 minutes, 6 secondstime and so he's constantly on the road he's had this little this is this last part that we did in provo he had this little tiny house that he had owned for 40:1440 minutes, 14 secondsthe last you know 10 years or whatever and so he had a ton of equity built up in it um but his wife was sick and tired of managing the property 40:2240 minutes, 22 secondsum and so he just wanted i'm not i'm not sure exactly why they wanted the cash up front other than him saying you know 40:3040 minutes, 30 secondsbasically saying that's just the convenience factor so what we told him is like as an agent we came in we said hey look if we were to put your home on the market 40:3840 minutes, 38 secondswe could sell your home for this month this much money it was a true market value like we told him what he could sell for and how much he'd be walking away with it was significantly more than 40:4640 minutes, 46 secondswhat you know we were willing to pay for the property cash um or we can we're willing to pay you cash and we can close in you know five 40:5440 minutes, 54 secondsdays or whatever it is and he's like done like give me the cash i would just let me have the cash you guys can have the property 41:0241 minutes, 2 secondsi don't have to deal with you no he'd have to show it he didn't deal with his current tenants nothing and he was thrilled like he still had made a whole bunch of money 41:0941 minutes, 9 secondshe left a lot on the table but he knew he had eyes wide open knew exactly what he was doing and we were more than happy to pick it up we we did have to you know 41:1741 minutes, 17 secondsdo some renovations sure um and then we put it back on the market a few months later and yeah we made some great money doing it that way so 41:2641 minutes, 26 secondsso you're and you're saying you you do have some of these properties sometimes for some of your clients and stuff like that i guess too yes yeah we can do it for our clients but um 41:3441 minutes, 34 seconds[Music] 41:3641 minutes, 36 secondsit has to be the the right type of client gotcha because again there's a lot of requirements right cash and being able to pull the trigger exactly you know sounds like because if they're not 41:4541 minutes, 45 secondswilling to pull the trigger and they're not willing to buy something without like fully investigating this there's some risk yeah there really is some risk 41:5241 minutes, 52 secondsthen um i don't want to i don't want to get everybody yeah i don't want to get anybody browned up and like just go and do all this stuff for somebody 41:5941 minutes, 59 secondsthat's just pretending to invest well and just just so like to clarify with joe like we get calls from investors commonly right sure like emails and 42:0742 minutes, 7 secondsphone calls and text messages i buy distressed properties if you can help me it's just funny because like all of the time sure you know like joe said like 42:1442 minutes, 14 secondsunless i've worked with somebody and i trust them and i know that they're willing and able to go in and understand hey this is this is a it's a risk yeah 42:2242 minutes, 22 secondsyou know but uh i don't know i feel like with investing you know fortune favors the bold so we have to take a little bit of risk understanding you know 42:3042 minutes, 30 secondslike you make it a duplex with a hole in the roof that's right right that's right but that's right you know you know 10 20 years later you may sell that thing for a pretty penny so that's that's you know 42:3942 minutes, 39 secondsit comes down to taking the risk and being okay with it okay no that's perfect anything else on on investing before we wrap up here 42:4842 minutes, 48 secondsdo it just do the best just do it do it well not like nike but you know i might as well say just invest 42:5442 minutes, 54 secondsnike's sponsoring us now yeah no i i i agree and i i would say i guess 43:0443 minutes, 4 secondson that note uh that first property is always the hardest yeah it's scary right totally that's you know but i have as i've done more and more the subsequent 43:1343 minutes, 13 secondshouses now it's like because i already know the numbers i'm familiar with i know i know what i'm doing but that first house is hard yeah well that's one thing i want i always 43:2043 minutes, 20 secondswant our clients to understand i try to reiterate this is that hey if we make it seem like it's not a big deal just just so you know we understand it's a big deal for you and 43:2843 minutes, 28 secondswe're we we want we don't want you to feel like we're being this person who's nonchalantly brushing over thousands of dollars sure um it's you know when it's 43:3743 minutes, 37 secondsin our daily practice like you said it's no big deal when you do it commonly but you know first time you know we try to be there emotionally too so even though 43:4443 minutes, 44 secondsit may not seem like it sometimes sure sure that helps yeah oh that makes sense that makes sense okay well hey uh like to thank uh casey 43:5243 minutes, 52 secondsjoe and travis for uh joining us here today i think uh i think we had a good uh a good thing here as far as a lot of different uh topics covered thanks for 44:0044 minuteshaving us ryan yeah thank you yeah yeah it's been fun you're a good guy yeah give it keep giving our clients money you know we appreciate it maybe maybe 44:0644 minutes, 6 secondsi'll send you a deal yeah yeah mission accomplishment yeah just joking we highly highly recommend 44:1344 minutes, 13 secondsryan always yes well thank you okay we'll uh that's it done thanks man see ya 44:2344 minutes, 23 seconds[Music]
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