Like most of you, I have found myself eavesdropping in some of the best conversations. I don’t know why but I’m never guilty of listening in. I have attended appointments late because the tea I heard was so good. I’m at a coffee shop doing some work and 20 minutes ago I subtly chime in on this guy talking to this young dude looking for career advice. This guy is going on and on about how realestate is the best space on the planet. He gave some good pointers but then he said one thing that rubbed me the wrong way. The young guy mentioned how he wanted to start a business in the tech space, and the guy basically shits on the idea that the dude will never make the kinda money he could in realestate. It was almost like he knew I was listening and made a personal attack. I wanted to lunge into the conversation and been like, WHAT DID YOU SAY?
In all fairness, I have a really poor history in getting along with realestate people. You figured after knowing and meeting so many of them, I’d get along with at least one. No. I’ve lost touch with friends who went into the space. Most of them give me the ick. The worst ones are the ones who dress like they’re bankers and drive their leased Porsche because it’s a tax write-off while sporting a Rolex diving watch. They’re the most insufferable. Why would anyone buying or selling their home care about their agent’s social status image? It’s like seeing my bank teller rocking a Hublot wristwatch and Cartier glasses. Am I supposed to say, “Wow I can trust this person to depositing my cheque because he can afford nice shit”
Not to mention for a group of people who talk so much about money, most of them are the cheapest people I have ever met.
I also know nothing about realestate and related investments. My understanding of the space is down there with my accounting knowledge. The difference is I don’t know any accountants who try and get in my face about their practice and how they’re changing the game. They don’t pretend to! I don’t go up to anyone in other industries and harp on about tech and VC being something that it’s not. They just can’t help but throw their lingo. I die a little bit on the inside every time I am stuck in conversation with them at some sort of gathering. I’m happy they found tehir love for laminate floors and interlocked driveways. But if I hear “cashflow positive” one more time, I’m going to choke myself by overstuffing Popeye’s biscuits into my mouth.
What does it take to be in realestate anyway? I notice every part timer, drug dealer, and housewife is in the space. I look at them the same way I look at car salesman. They don’t build the product or enable a need. They will only go as far as their network and relationship building skills can take them. Choosing which agent to work with isn’t based on any standardized measurable performance. Being in realestate is a side gig that turned main until it wasn’t anymore. Is that why most of them make a few big notable deals and then start selling courses?
Of all the businesses to get into, I find realestate a low risk game comparatively. The return of an average property investment is mostly mild but cumulate over time. Alternatively, they can flip for a quick margin and repeat with the capital. The industry is also the most predictable market out there when you compare to even long term yield commodities. It’s a slow changing environment no matter how many times they will harp “crash”, so it gives them options to make moves like exit and minimize losses or take profits. There really isn’t any major risk aside from locked capital. In 15 years of networking, I have never ever heard anyone say they are going bankrupt because of a bad realestate deal. Two people in our network have gone bankrupt just from running a restaurant and an activewear brand this year. It doesn’t take any specific talent to be “good” at real estate aside from relationship building. There’s no reliance on additional talent to launch so teamwork is optional. Creating a brand is irrelevant except at a local level. Barrier entry and exit is easy.
There’s only ONE real estate agent I would probably get along with and I’ve never even met her but her social is so on point that I think we could be best friends. Y’all should do business with her and tell me if she’s awesome — Farkakte Apartments. IYKYK.
Here are some funny images incase you felt like you wasted your time reading this.