THE YELLOW COVER TALKS! Q&A

Q: Real estate is a bonding experience between you and your client; what makes the best realtors in a time such as now, and what is your vision for 2023?

Buying a house can be one of the most stressful things in a person's life, next to planning a wedding or getting a divorce I try to educate all of my clients before we even get started I simplify it so that it doesn't feel like rocket science and feels more fun The more people are prepared, the better the process goes We take it step-by-step, and I always forecast the possibilities along the journey so they don't ever feel in the dark or alone That's why a lot of my clients have become friends To this day, I have tons of repeat clients I've watched them get married and have kids I've helped them buy their second, third, and fourth houses! When you go through a very emotional experience with someone, and you've been right there holding their hand all the way through, even after closing, you can't leave each other Regarding real estate expectations in 2023, I don't have a crystal ball; no one does. Economists have been guessing! No one can deny that we're in a very turbulent time economically If you go to the supermarket, you'll see that the price of goods is extremely high There are predictions of a recession; simultaneously, there are those predicting a hyperinflationary period I don't make predictions Instead, I watch the world news and follow historic trends and cycles I will tell you that historically, through any economic condition, real estate has always been the smart place to put your money in the long term I'm not talking about if you want to buy a house and flip it That's short-term, but if you're saying I want to create generational wealth; I want to build a legacy for my family; I want to create passive income; I want to have a retirement plan that no one can take away from me, well then you know real estate is always the foundation of wealth

If you talk to any multimillionaire, a good portion of their portfolios are in real estate My advice is never to mind economic conditions, never mind what interest rates are NOW is always the right time to buy real estate People, of course, are watching the interest rates They're going up They're going down At the time that I'm doing this interview, they are between 7 and 8% That can be scary for a generation that's never seen interest rates as high But here is the reality check, when my grandparents purchased their first house, their interest rate was 22%! When my parents bought their first house, their interest rate was under 11% All of their elders were flipping like you got such a great deal! When I purchased the first house I was going to live in, I got shy of 7%, and guess what? Everybody flipped, telling me I got such a great deal. As a society, we've gotten spoiled with interest rates being in the twos and the threes We have gotten so used to it that we thought that was the norm, but it wasn't We were at a historical low Never had interest rates been so low People should be bold, get off the fence, and get in the market right now This is a wild card I'm throwing it out there What if this is the lowest you wind up seeing interest rates for the rest of your life or your generation you will have wish you got in? What's the worst-case scenario that could happen? If rates are high now and you're afraid they will go down Well, ok, but when they go down, you can refinance Get off the fence! Buy some real estate! Start creating some wealth!