Jason Bramblett Real Estate Show Podcast
Jason: …man, there isn’t anything to do in Raleigh. You do not want to be in Charlotte. Take Charlotte out of your GPS. You are home. Just stay right here. There is no need to go. There is nothing to see in Charlotte. You want to go to Charlotte, you can do that on a day trip. You do not want to get caught up in all that mess. Life is short. Do you want to spend it on I-40, 77 –
Mikell: No. Not at all.
Jason: No. Not at all. No way. Forget it. No chance. Spend it here. Go take a drive today. Go checkout Winston-Salem, Greensboro, High Point. We cover those. We talk about you guys all the time. Let’s talk about some of our other fun places. Have you gone over there and checked out Lewisville? How about Mocksville? Mocksville and Lewisville have some pretty cool little downtowns actually. You can go over there and just, I do not know. They are just kind of Mayberry-ish.
Mikell: Oh wow.
Jason: There is not a lot to them, but that is what is cool about it. Right? It is just relaxed. Go to the park. Walk down the street. They actually have sidewalks. Those type of things. Oak Ridge, Summerfield, Pleasant Garden. You got all these great little towns. Sophia. Some people were like I did not even know there was a Sophia. We have got some great new houses coming up in Sophia. You need to check out our website. Hit Jason Bramblett dot com. How about Wallburg, Ramseur, Julian, all those places?
Mikell: Never heard of them.
Jason: Never heard of them?
Mikell: Never heard of them.
Jason: They are a nine iron just south of Greensboro all around.
Mikell: Really? Okay.
Jason: So there are lots of great little towns here. Advance, Bermuda Run, you got Burlington, obviously. Mebane or if you are from the North it is Mee-bane, but we do not say it like that here. Phonetically, it is Mebane in North Carolina. But how about we got Blues Creek, Walnut Cove. We have got Brown’s Summit, and Brown Summit because they cannot even decide up there how to say the name. And so, it is either way. What is crazy is you can get there with the S or without the S. It does not matter. Everybody knows, but there is still an argument whether it is Brown or Browns Summit unless you are from there, and then they are emphatic about what it is. But you need to go there and ask them. Go up there and hang out in Browns Summit and see what happens. But it is interesting. So we sell in all those, and we have a great time getting to meet the local people. All these great cities and towns that we have around there. We are your full-service, one-stop shop buying, selling. We cover 36 towns and cities, located all over the Triad. And I know I have left off some of you. I did not forget you, King, do not worry about that. Walnut Cove, Wallburg. Who else did I miss up there? I am sure somebody. Send me the email and I will make sure I mention you next week. I promise you. Most of you guys know we are all over the place. So come over to Jason Bramblett dot com. Send me a message. Get on that email link up there and we will get you on our mailing list because we have some interesting things and things that people are looking for that pop up, and sometimes we have to reach out to people in our database to say hey, you have what somebody is looking for. Have you thought about selling it? Because maybe you attempted to sell your home 3, 4, 5 years ago during the dark ages of real estate when nothing was going right. No appreciation was happening, and we were just stuck in the ditch pretty much in the Triad for, oh I do not know, about a decade. It just took a while to climb out. Now, we are finally climbing out and some of you actually have not got the thought back in your head of maybe I can move now. Actually, you may very well be able to. You have been paying down the mortgage for 3, 4, 5, 7, 8 years now. Real estate is actually just starting to tick up just a little bit so we have some appreciation. So between you making payments and paying down the mortgage, real estate ticking up a little bit, now we have this thing called equity created. You may actually have enough equity to be able to make a change.
Mikell: There you go.
Jason: You just do not know. What do we have to do? We have just got to do the math and take a look at it and see is it a good decision for you. And that is what we will check out and take a look at. Hey, Jason Bramblett dot com. Put in your city. Let’s talk about it. How about that? Let’s do it. What else do we have coming up today?
Mikell: All right. So, we talked about that the spring market has kicked off. Is it too late to get a house on the market?
Jason: Oh absolutely, no. You are good. You are good. I say that. Some of you, some of you, you are going to need some help and some love, but that is okay. Actually, here is the deal with selling a house. A lot of times everybody is trying to figure out the exact time to hit the pinnacle to get the best, to get the most. Here is the truth of the matter. The right time to move is when you are ready to move.
Jason: And that could be October. That could be December. It could be (indiscernible). The benefits of selling now, well you have more buyers hitting the market now because of the time of year more than anything else. The downside to selling now is you also have more houses hitting the market. Therefore, you have more competition. So if you are one of ten that are hitting the market in your price range, and nine of your neighbors have outperformed you in cleanliness, upgrades, updates, all those things, they have been listening to the show for the last 12 years. Right?
Jason: They have taken hold of all the wisdom and knowledge that I have dropped on the Triad real estate market. Right?
Mikell: The gems.
Jason: The gems. That is it. Yeah, they jumped right in there. And so, they are way ahead of you because maybe you just tuned in last week and the only thing you got last week was something about the ACC tournament that I was ranting on. But anyway, they are ahead of you. It may be that now that that competition is there, you house does not look quite as good as it used to. Whereas, maybe if you had put the house on the market in December when nobody was on the market and people had absolutely no choice, all of a sudden, hey, the bridesmaid became the bride. Right? It was like wow, there is not anything else. This is what we will have to go with. So there is a downside to selling in the spring market. It is what most of us will consider the peak, yes, and most of the houses do sell in this cycle. But here is the thing about looking at trends and cycles. With real estate especially, the only way you can know if you were ever at the top is you have to look backwards. So it is not a trend in which you can forward, you cannot see it coming forward. In order to know that you were at the top it is what we call it is in arrears. Everything happens in the past. So when you put a house under contract, that sale is not recorded that day. That sale is recorded in 45-60 days when it closes. Therefore, the buy trend is always in a lag of usually 45-90 days. So we will not know what the top was until probably we are 45-90 days past the top. And now what do we see is the ski slope it is heading down the other way. So now we have people chasing the market down, which is never fun. And if you need a visual of that graph, just google anything over the last ten years in the Triad real estate market, and you will look like you were on Beech Mountain headed down really quick because that is what it looked like. It looked like you were skiing Black Diamond. This was not bunny slope, tow ropes, gentle, little rolling meadows. This was a cliff that just went straight down. So this was double Black Diamond, holy smokes, here we go. That is the visual.
And what you do not see is that lag. So when it is perpetually for nine years, you see it, or nine or ten years, but the bottom line is this. Real estate in general is all about timing. It is all about your timing. If everybody could pick the winning ticket everybody would be winners. Right? It does not work that way.
Mikell: Of course.
Jason: Another thing we have got to look at is most people when I get a question like timing is they are trying to maximize the investment. They are attempting to squeeze as much as they can out of that. But by definition, an investment is something that is earning you money for effort that you are not having to do and potentially, like in the case of real estate, other people are paying for your debt. That is a win. So I have a rental unit, house, condo, townhouse, apartment, whatever it is. If I owe money on it, the tenant is actually paying that money back. The difference between what I owe and what the tenant is giving me is profit, or at least income of some kind. It may not be profit, but it certainly could be income.
Jason: And to qualify this real quick, your 40-year-old deadbeat son living in your basement paying you rent is not really investment property. Okay? That is a parenting issue. Right? That is not income property. Put all things together equally here to understand what is, just because somebody is giving you some dollars does not mean you have got an investment property. The house you live in is technically, under that definition I just gave you, not an investment. Why? Unless the kids are paying for it, I cannot get rent out of mine. I have tried. They just do not go for that. They are still hopefully on the we-work-for-food program. Right? If you can get them to do a little something around the house.
Mikell: Just a little bit.
Jason: Just a little bit. Just lean into it just a little. Right? But by definition, the home you live in, if no one else is paying for it and you are, it is a liability. It is actually not an investment property. Could you make money off of the home that you are living in? It is possible. It is rare, but it is possible. Typically, what it ends up becoming is a really, really horrible savings account. And the reason why is we actually always over-improve our own property. Why did you do that? Why did spend $14,000 on your kitchen? Because I liked it.
Mikell: My wife told me to probably.
Jason: There you go. That is it. That is it. That is not investment logic. That is keeping everybody happy logic.
Jason: Which is more important. See there is a return of value there. It is not monetary. Money. But it is lifestyle. I did this. Mama happy. Everybody is happy.
Mikell: Everyone is happy.
Jason: It is priceless.
Jason: You cannot put money or put a money factor on that. Now, we look at houses all the time that are over-improved. Why did you that? Why did you put that there? We loved it. This is what our family does. Our family is an outdoor family, so we put a $60,000 outdoor kitchen in. Okay.
Jason: Okay, great. You can do that, but you may never ever, ever get that money back and probably will not because there are not that many people. Now, people will take it all day long –
Jason: -- but they are not going to pay you what you paid for it. But I like the fact, I like the $60,000 outdoor kitchen. It is awesome. I just do not really want to pay $60,000 for it because I could take it or leave it. Right?
Mikell: Leave it. Yeah.
Jason: It is kind of like a horse barn. We sell horse properties. A horse barn is an awesome feature to have if you have horses.
Mikell: If you have horses. I was going to say.
Jason: If you have no horses, it is absolutely a useless building on your property. So it has different value for different people. Same principle with your house. And typically, we get in the situation where we over-improve our house. But real estate investing is great to do, but it is investing when other people are paying you money for what you either own and or they are helping you pay it off. That is when it becomes an investment. That is when it becomes good. That is when you start making sense of those things.
Now, all that to say, is it the right time to sell. The right time to sell, what I am getting at, the essence of this is do not spin your wheels attempting to time out a market in which no one can predict and or no one has ever really timed out. Because it is always in arrears. You never know where the top is until you are past it. You can get close. You can kind of get in the window. You can do whatever. The right time to sell the home that you are living in is when you are ready to do it. That is the bottom line. Because all of those factors. Because even if I sold my house seven years ago when the market was horrible, but I sold it in order to take a new job in Tennessee that was paying me 40 or $50,000 more a year and I lost money here, it was probably still a good decision for the family.
Jason: It was a horrible decision as far as real estate goes. Maybe I should have never bought the house to begin with. But the fact of that new opportunity, me being able to get rid of the home, I was able to take advantage of that opportunity. So lots of different things out there. Mikell, let’s take a quick break. We are going to come back. We have got something coming up you might be interested in. Have you ever thought about, I do not know, sticking your toe in the real estate world? Well, we are going to talk about our career night coming up in April. So stay tuned. We will be right back in just a minute. Jason Bramblett Real Estate Show live right here. (in/out music)
Mikell: All right. We are coming back from the break. We talked about our rental properties and investing.
Jason: Absolutely, and then we kind of well, we threw out that little teaser out there of have you ever thought about well, what it takes to actually be in real estate, be in sales? Have you wanted to stick your toe in the water, kind of check it out? Well, we are doing a career night coming up in April. Actually, it is April 10th, 6-7 o’clock, and I am going to walk you through what it takes to, well, an opportunity if you will. I guess. We are going to talk about what it takes to be successful, but also the opportunity we have created within our company that you could potentially come in, take a look at what it is, and everybody has got their own opinion of what real estate sales really is.
Now look, I am not talking about order taking. Okay? There is a difference. Okay? If you have been to a really nice restaurant and you had somebody take your order and you have been to a really nice restaurant where somebody has given you concierge service and served you well, and or hopefully you have bought something in which somebody did not just say, what you want to drink? That is called order taking. All right? When you have a great experience, and that is what we want to create is the experience of real estate, not just sitting back, taking orders to either buy and or sell. If you are the type of person, your whole experience is doing open houses, eating chips and cookies, that is not what we are talking about here either. We are talking about selling at high level, but really here is what I am talking about. We are looking for leaders. I am looking for people who understand that serving their clients, what it is like to do that, and to do it at the highest level possible. People that pick up the phone and make things happens instead of waiting on the phone to ring and reacting to what is happening. There is a big difference in the two.
Mikell: Taking initiative.
Jason: Yes. You might want to rewind that later and listen to that again. That is the difference between you taking ownership of your life, your sales career, and or your sales career happening to you. There is a big difference. The other big difference are the zeroes at the end of your paycheck. Okay? There are definitely different levels of compensation in all of sales, and the people that serve their clients the best offer the greatest service, provide the best concierge-type service, and do it at a very, very high level earn the most money. That should not be a big surprise to anybody. And I know some people will say that is not fair. Well, guess what? We have a fair in October. It is called the Dixie Classic Fair, and you can go there and ride the rides because that is what a fair is for.
Mikell: Bring the family.
Jason: That is it. Life is not fair. Get over it. If you have not figured it out by now, I am sorry. I do not know where you have been hiding. But it is not fair. It is not fair to all the young kids that got snowed in to going out and getting a higher education, $80,000 in debt and they are working at the big box store with the circle and the pretty dog at the checkout counter. Right? Sorry for you, but it is about taking initiative for yourself and getting out there and making it happen. Okay? And you cannot just go through the motions.
Mikell: That is true.
Jason: That is what we are finding out. That is what this generation is finding out. Going through the motions. Well, sometimes going through the motions smacks you right into a concrete wall, and it is no fun.
Mikell: It is not.
Jason: I have hit a few concrete walls in my career.
Mikell: I have, too.
Jason: And guess what? They are hard.
Jason: And you have got to move through them or over them. Right? But you just cannot sit there and just stare at them and talk to them. Right? They are not going to move. You have to make the one making the move. So April 10th from 6-7 at our campus here in Greensboro. We are going to dig into that. Get in touch with my office. You go to Jason Bramblett dot com. You know the deal, drill. That little email icon in the top right corner. Shoot us an email. Put in there career night. My team will reach out to you. We will get you an Eventbrite sent over so you can register. There is no cost to this event. We actually paid all the handling charges for you, so there is no cost to take a look. We will get your money later. No, I am kidding. Just relax. It is not one of these sales pitchy things. You cannot buy anything when you come there. I have a couple houses for sale if you want to buy one when you are there. That is fine. But really what we want to do is we know this. In the Triad, there are an extensive amount of phenomenal, great sales people that are looking for the right vehicle and the right opportunity, and where they are at now, it is not there. So real estate can be it. The wonderful thing I love about real estate is that you have a lot of control in your destiny. I have had in the last 90 days four really good friends that work for pretty large companies for years, one of them well over 25 years, and at that age where they are making pretty good money. So they are probably making anywhere between $80-90,000 a year, making a great living, been at the company a long time, and all of a sudden, they wacked the whole division.
Mikell: Oh wow.
Jason: So when you are 55 plus and you are in the job force looking to replace a $70, 80, or $90,000 income, that is very, very difficult to do.
Mikell: In today’s society, it is very hard.
Jason: In today’s corporate workforce, like 41 is hard.
Jason: So when you get up to 55 plus, one of my friends, 61 years old, and you just cannot touch, there is nothing. Nobody that he found, I should not say nobody. Few, and nobody that he found was hiring a 60-year-old person at the income level that he was at. And what do you do? Here he is. He is too young to retire, too young for Social Security. Most all the retirement benefit cannot kick in. Right?
Mikell: No. Yeah.
Jason: And you are stuck in this abyss until you reach those years. And the real thing that stinks is usually with Social Security, my understanding of it is, what you make in your last few years is kind of the most important part. Right?
Mikell: Yes, it is.
Jason: That is what establishes some of the tables as to what you are going to get.
Mikell: True. It is kind of hard to downsize your life before you really want to.
Jason: That is right. Yeah, well yeah, think about that. It is like here I got this great plan. It is awesome, and everybody set the timeline, whoever did that decided it was 65. I do not know who. Or 67, I guess it is. They move the cheese a little bit every year out there a little bit.
Jason: So 67, I have got my plan. I am working my plan, and all of a sudden, my plan does not work anymore. And that is out of your control.
Jason: The great thing about real estate is you have control. We actually had a couple times I have known, I have been around a while, so I have known agents who are up in their years, and we actually had a really, one of our top agents in the Triad pass away a couple of years ago. The interesting thing about that was when he died, he had multiple homes still under contract. So there was actually money coming in even after he was not with us anymore.
Mikell: Oh wow.
Jason: So all the way to the very end, you could actually be in control of your own destiny, making money. That money could go to your family, your estate or whatever it is. But my point is you have the control of that and not maybe somebody with a pencil out of state in a different part of the world that does not really, I will not say they really do not care about what you are doing, it is just that they are not living in your shoes.
Mikell: That is true.
Jason: The only person I want living in my shoes is me, and I want to be in control of them.
Jason: Real estate career night, come check it out. It is going to be April the tenth, 6-7, get in touch with our office. Go to Jason Bramblett dot com. You can get all the information you need there. The last little thing I just want to throw out. We have new homes popping up all over the Triad. We get this question all the time, especially in the spring because they seem to pop up like the tulips and the daisies and all that stuff. Should I buy a home directly from the homebuilder? Interesting enough, I had lunch this week with one of the area’s top homebuilders, and I was pleasantly surprised, not surprised, encouraged that their team, they really push the fact that they want people to have representation. They actually want another set of eyes there. So there is a perception that you can save money by buying direct and not having a real estate agent. And with this particular builder, and they sell a lot of homes, and most of them out there, that is simply, it is a myth. It is actually not the truth. You are not going to get the house at a cheaper price. The only thing you are going to get is no representation. So think about that. We are going to do a show on that coming up next week. You can stay tuned there and stay tuned obviously to WPTI. We have got great stuff coming up like basketball –
Jason: -- all day, and of course, I do not know. I am sure Duke is going to win –
Mikell: I am sure they will.
Jason: -- but that is my bracket. It is not totally busted yet. Everybody have an awesome, awesome weekend. We will be back here next week. Go to Jason Bramblett dot com to sign up for career night, and we will see you then. Enjoy the weekend, guys.
Mikell: Enjoy the weekend.