Member Bei Zhang Shares House Academy Success Stories (LA 1041)
Transcript:
Steven Butala: Steve and Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit: And I'm Jill DeWit, broadcasting from sunny southern California.
Steven Butala: Today, Jill and I talk with member Bei Zhang, who shares her Land Academy success stories and maybe some potential failures. Well, let's see what we talks about.
Jill DeWit: Yeah.
Steven Butala: Bei, am I pronouncing your last name correctly?
Jill DeWit: Bei Zhang.
Bei Zhang: Yeah, Zhang. Exactly right. It sounds like Jong.
Steven Butala: All right. Awesome. Tell us a little bit ... In the pre-show, Bei, you were talking about how you just got back from China. That's super interesting. Tell us what happened.
Bei Zhang: Yeah. Well, this is a special trip and me, my mother-in-law and [inaudible 00:00:42], my nine-year-old daughter, and then also our nephew, we all come together to Beijing to meet my parents' side. So spent two weeks there and visited the Great Wall, the Forbidden City, those parks ... It's fabulous. Yeah. It's fun.
Jill DeWit: Wow. I'm jealous.
Steven Butala: So it was all just a social fun trip. No work?
Bei Zhang: Yeah. I tried to cut off my workflow. I try to forget there has work, just fully enjoy my trip. So customer who leave the voicemail to me, I feel bad. I never really returned a call. Yeah.
Jill DeWit: You have to do that sometimes. That's okay.
Bei Zhang: Yeah, sometimes.
Jill DeWit: That's not your norm. I know it. You have to really ... We have a trip coming up actually soon. By the time this airs, we'll be back from the trip, but ...
Steven Butala: Yeah.
Jill DeWit: Actually, we'll be on the trip. I don't even know.
Steven Butala: Yeah.
Jill DeWit: Anyway, we're going to go to Santa Barbara, and I'm really trying to orchestrate it so I don't have to do that much. There's always something I've got to check on, a few little things, but if I could do an hour a day, then it's perfect. I'm okay with that.
Bei Zhang: Yes.
Steven Butala: How does real estate work in China these days?
Jill DeWit: Yeah.
Bei Zhang: I think it is highly regulated by the government. So the government, they're really involved in the lot of those policies, so I think you have to have a very deep relationship with someone in that industry, in the government, to help you. It's not like everyone has an equal opportunity. That's how I feel.
Steven Butala: Okay.
Jill DeWit: Wow.
Bei Zhang: Yeah.
Steven Butala: I just read that Chinese individuals buying residential real estate in this country dropped off this year by like 30%, and everybody wants Florida because it's inexpensive.
Jill DeWit: Really?
Steven Butala: But for some reason ... I don't know if it's the local economy there. Do you have any insights on that?
Bei Zhang: I think it just like the price are very high in those cities. [inaudible 00:02:43] ridiculously high. You think about how much you earn versus your salary and then housing price, the ratio is really high. Not like in the U.S. Your salary, you add together in the middle class, probably, I don't know, six years.