In this episode, our hosts gather a panel of real estate experts to discuss some of their scariest experiences in the industry, just in time for Halloween. They also delve into their career's most challenging and uncertain moments in the real estate market.
Host:
- The host begins by introducing the panel and sets the spooky tone for the episode.
Panel Introduction:
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Alex Fischer:
- Alex Fischer is a real estate investor with a focus on fix and flips and rentals.
- He shares an eerie story about buying six foreclosure properties site unseen, leading to some shocking discoveries inside one of the homes.
- Key takeaway: Always get inspections before buying properties.
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Billy:
- Billy represents a family-owned property management company with a long history in the business.
- He recounts a memorable encounter with a property infested by roaches and the unfortunate discovery of three deceased cats.
- Lesson learned: Be cautious when entering properties and use the "Roach Kick" technique for safety.
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Brent McGee:
- Brent McGee is an attorney specializing in real estate law.
- He shares various unsettling experiences, including encountering squatters, meth labs, and even a homeowner wielding a gun.
- Safety tip: Always verify property status before visiting, and consider obtaining a concealed weapons permit for added protection.
Scariest Moments in Real Estate:
- The panel discusses the scariest moments in their real estate careers, with a focus on the 2008-2009 market crash, the uncertainty it brought, and the impact on their businesses.
- Alex Fischer reflects on a challenging experience involving a technology-based approach to real estate offers and the subsequent financial fallout when a major client pulled out.
Market Challenges:
- The conversation shifts to market challenges, specifically addressing the impact of the COVID-19 pandemic on the rental property market in 2020.
- Billy shares how the pandemic led to uncertainties, with students going virtual and raising concerns about rental income stability.
Conclusion:
- The host wraps up the episode by summarizing the panel's scary stories and market challenges, highlighting the importance of learning from such experiences in the real estate industry.
