Our Biggest Fail

Heather and Terry are back from a weekend in Las Vegas! From Backstreet Boys to Bruno Mars to Terry being the obsessed with… attention??

 

Everyone has been asking about the Dubrow’s Beverly Hills mansion that just sold… what’s the real story behind it? Was it a real estate fail? Or is it just the name of the game?… Tune in to hear the truth. 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:04):
I'm Heather Dubrew and I'm Terry Dereu.

Speaker 2 (00:07):
And we're going to keep this between us.

Speaker 1 (00:09):
Not really, no, no, not okay, Hi babe, how are you.

Speaker 3 (00:13):
I'm good. We're going to talk about all of our
real estate fails. Do you know one of my favorite words,
shaden freud.

Speaker 1 (00:20):
It's a great word. It's a great word.

Speaker 3 (00:22):
We explained with Shadden Foy.

Speaker 4 (00:23):
So shadon freud obviously German derivation. It's to obtain pleasure
from other people's fails.

Speaker 2 (00:29):
Yeah, if you have that, any of those thoughts about.

Speaker 3 (00:31):
Us, this is your episode.

Speaker 1 (00:33):
Yeah, if you if you're a hate listener or hate watcher, we.

Speaker 3 (00:36):
Got a good one.

Speaker 1 (00:37):
We've got you're going to.

Speaker 3 (00:38):
Gona be good before we get there.

Speaker 2 (00:39):
Can we just talk about Vegas for a little bit.

Speaker 1 (00:41):
That was a good weekend. I normally hate Vegas.

Speaker 3 (00:44):
It was great. Yeah, although I steal my lungs from
the smoke. I feel like I'm still feeling it in
my chest.

Speaker 1 (00:51):
Still less smoke in Vegas than Santrope than.

Speaker 3 (00:53):
It can smoky place can.

Speaker 4 (00:55):
Yeah, even outdoors, it's like like being in the casino.

Speaker 3 (00:58):
It was so hot in Las Vegas. It was even
hot inside yeah.

Speaker 4 (01:02):
Yeah, that was a fun weekend. I normally go to Vegas.
In the moment I get there, I want to leave.

Speaker 2 (01:07):
Because you did make that joke as it was out there.

Speaker 4 (01:10):
Let's go because we don't gamble and I'm bored by
all things gambling.

Speaker 1 (01:15):
What are you do in Vegas?

Speaker 3 (01:16):
You eat and drink and have hotel sex and to show, yeah,
and shop.

Speaker 1 (01:22):
But we saw two shows. They were great. Yeah.

Speaker 2 (01:24):
We saw Bruno Mars.

Speaker 1 (01:25):
Yeah.

Speaker 4 (01:25):
Wow, Bruno Mars is like the Terry Debreau of pop artists.

Speaker 3 (01:29):
Is there it is? Yeah, he's so talented. We've seen
him before, but we saw him last time with Silk.

Speaker 1 (01:36):
Sonic, which I didn't I'm not a Silk Sonic fan.

Speaker 3 (01:39):
Well, I didn't know that many songs. But I mean,
they're so talented. It's interesting to watch. But I will
tell you the sound in the Bruno and we were
with three other couples and we weren't sitting together, and
everyone felt the same way. There was the bass was
so heavy in the show. But then halfway through the show,
Bruno sat down. He kicked the band off, the set,

(02:00):
off the stage and he sat down at a keyboard
and played I don't know what for twenty twenty five
minutes alone.

Speaker 4 (02:06):
Just how many of these do you know? And they
were just like all hits, O way this guy has,
like I looked it up, thirty seven hits.

Speaker 3 (02:13):
Thirty seven hit songs. But him sitting alone at the
piano singing like that was that was my Like. I
could have just listened to two hours of him doing that.

Speaker 4 (02:21):
I could have too, Yeah, except I have seen artists
who are in bands and they decide not to play
with the band and they just sit there with the guitar.

Speaker 1 (02:29):
It's not as good.

Speaker 4 (02:31):
I think, Well, what's amazing is he's so phonically good, sonically,
phonically whatever good that you would think that he would
be so precise about the mixing of the instruments and
the other singers. But you literally couldn't hear any of
the other singers.

Speaker 3 (02:48):
The music was so loud.

Speaker 4 (02:51):
It was loud, but you really couldn't even tell what
the song was until he was singing.

Speaker 3 (02:55):
And one of our friends were with is a musician
and he was saying he said the same thing we say, yeah, And.

Speaker 1 (03:00):
This is a musician who's had fourteen hits.

Speaker 3 (03:02):
Yeah, but we had so we had dinner first, we
went to the show and then we went out. We
ended up hanging out till like three o'clock in the morning.
Who do we think we are? And then Saturday we
like just hung out. We went shopping. I had Terry
get a white shirt. Okay, So we went to the
Backstreet Boys on the second night. Their tour is a

(03:23):
it's called a white out. Yeah, so they want everyone
in the audience to wear white.

Speaker 1 (03:28):
Which is, look at me, what do I ever wear?

Speaker 3 (03:30):
I don't have to wears black, black, black, and black.

Speaker 1 (03:32):
Until there's a darker color I wear.

Speaker 4 (03:35):
But I mean, I was pissed because it's one thing
to spend a lot of money.

Speaker 1 (03:40):
They're amazing, and we know them. They're nice. They're so nice, but.

Speaker 2 (03:43):
They're the loveliest and their wives are all really nice.

Speaker 1 (03:46):
It's just so nice.

Speaker 4 (03:47):
And you know, it's one thing to buy these suxpensive tickets,
but you have to tell me I have to go
out and buy some clothes.

Speaker 3 (03:54):
Also, whatever we got we were going backstage. I'm like,
you cannot be it's disrespectful. You have to at least
we're a white shirt.

Speaker 1 (04:01):
Yes, So we went twenty minutes before and I bought.

Speaker 2 (04:04):
A white got a white shirt and you liked it.

Speaker 4 (04:06):
I did, and then I felt good about it because
when we went to meet them before the concert, I
would have felt really self conscious.

Speaker 1 (04:13):
Oh my god, they're going to look at me like, wow,
a hole, no respect.

Speaker 3 (04:17):
Did you not get the memo? I know everyone else did.
How many people are in that arena?

Speaker 4 (04:21):
Twenty thousand sold out, sold out, and they added they're
going to do one hundred shows.

Speaker 3 (04:25):
And what was really fun about it was all right.
So we had other friends with us, and then Jen
Pedronti and her fiance Ryan I Love, who were amazing,
and we were texting about something and she told me
she was going to the concert. I'm like, oh my god,
let's catch up. So we ended up having dinner with them.
They joined our group, and then we went over the
concert and we were in this friends of family area

(04:47):
and then some of the boys came and hung out,
and while they were changing into their costumes, there was
like this glam area. You didn't go with us, but
there was this glam area backstage. I've never seen anything
like this before, but there was a glam area and
there were two amazing girls there and so Jen and
I were laughing. I was saying, it's like in the
Wizard of Oz before they go to the Emerald City.

(05:09):
You know, they primp them and they do their hair
and they re stuff the scarecrow. That was me and
Jen backstage. We got jewels on our eyes, they curled
our hair, and then they had a claw machine with
like airbrushed T shirts, one of a kind airbrush t shirts.
So cool, so fun. And then they took some of

(05:29):
us to a side area and the boys had their
costumes on and everything, so we took pictures with them,
got to say hi and oh and Melan Ackerman was backstage,
who I love. She was on Billions and now she's
on Hunting Wives, so chatted with her for a few minutes.
She was amazing. Adam Corolla, who we know in Love,
was there. Yeah, it was so And Okay, this is

(05:53):
what I want to tell you about the concert. It
was amazing. We've seen them before a couple of times
a concert, but this is our third time the sphere. Yeah,
it is so good. And I am telling you there
were no psychedelics on board and it felt like a trip.

Speaker 1 (06:10):
Yeah.

Speaker 4 (06:12):
Right, this is the first we've seen the Eagles and
you two mm hmm. This is the first time the
band actually did something with the Sphere before and incorporated
into the Sphere presentation.

Speaker 1 (06:25):
It was amazing.

Speaker 3 (06:27):
So I cannot over sell this. You like their music
and you want to go to the Sphere, I'm telling
you this is the show to go to.

Speaker 4 (06:36):
Yeah, they sang great, I can see saying, so well,
sold out, I mean sold out, and the audience flipped flip.

Speaker 3 (06:44):
I was so happy and everyone was wearing white.

Speaker 1 (06:46):
I there were two things I really enjoyed about it.

Speaker 4 (06:50):
One, when they walked up, I've forgotten how big a
botch fans they were, and they loved.

Speaker 1 (06:56):
Me, So I love that.

Speaker 4 (06:57):
That's great, honey, maybe that maybe actually didn't even two
because that was so good. No, And the second thing is,
you know this is going to be obnoxious, but I'm
gonna say it anyway.

Speaker 3 (07:07):
Soccer.

Speaker 1 (07:08):
Oh my god, are we famous in Las Vegas?

Speaker 3 (07:10):
Oh? Well, yeah, because that's like people from everywhere.

Speaker 4 (07:13):
When I'm next time i'm feeling depressed or down, I'm
going to take you to the mall, put me on
a plane and take.

Speaker 1 (07:20):
Me to Vegas.

Speaker 3 (07:22):
Wow.

Speaker 1 (07:22):
And they're so nice to us.

Speaker 2 (07:24):
I know, everyone's very song.

Speaker 1 (07:25):
Oh my god, the country is so nice to us.
I just love the country. Thank you.

Speaker 3 (07:30):
There's a movie called Soap Dish with Sally Field and
Whoopy Goldberg and Sally Field plays like the Eric Cacaine part,
So she plays this you know, older soap opera star
who you know is not in her heyday anymore. And
Whoopy Goldberg plays her assistant. And when Sally's character gets depressed,
Whoopy takes her to the mall. This is the thing

(07:50):
if does anyone say this movie. She takes her to
the mall and they get on an escalator and Whoopy
starts going.

Speaker 2 (07:55):
Oh my, is it is that you? Oh wait, Oh
oh my, it is you.

Speaker 3 (08:01):
Oh my gosh, look how it is? Lookod is it?
All of a sudden, everyone starts turning around and a
crowd starts gathering, and then Whoopy walks away like she's
done her job and goes and sits down, and Sallyfield's
standing there. Oh no, I'm signing autographs. That is Terry.

Speaker 2 (08:16):
So whenever Terry is in a bad mood, I'm like, darling,
do we need.

Speaker 3 (08:19):
To go to the mall?

Speaker 1 (08:20):
Oh my god. It's like being a beetle.

Speaker 3 (08:22):
Not really speaking of Vegas, Bravo con is back in
Vegas this year. I haven't gotten your tickets, but you
if if there is an event that was made.

Speaker 4 (08:32):
For my husband, Yeah, it's nothing, but people everyone knows you.

Speaker 2 (08:37):
They don't even pay him.

Speaker 4 (08:39):
No, they may pay me. In fact, they don't even
like fly me over there.

Speaker 3 (08:43):
You would pay them to go.

Speaker 1 (08:47):
But wouldn't you?

Speaker 4 (08:49):
No, yes you would, I would not, Yes you would,
but I you know how they lie. They keep you
behind these things and I'll stick my head out and
it's like, oh god, thing, I'm fucking bond Jovi.

Speaker 1 (09:00):
Where's the lighter? Here's the fifth weetle man, John, I'm George.

Speaker 3 (09:05):
There's some areas of Bravo Con so there's panels you
go on and there's meet and greets all this, but
there so some of the meet and greets you you
stand on a stage and there's four bravoelebrities, right, and
they form a line in front of you, and you
get a certain amount of time to stand there and
people come up. They could take a picture or say
hi or whatever. Terry, Well, I am standing on that stage.

(09:27):
Terry walks up and I'm not kidding, he walks up
and down.

Speaker 2 (09:33):
Not just my line, all the line.

Speaker 3 (09:35):
Terry Terry Terry, Terry says a fall mean greet. So
if anyone's upset, they're on the wrong line, you're not
getting Terry's gonna take a picture with you.

Speaker 1 (09:44):
So we have this thing in plastic surgery.

Speaker 4 (09:46):
Right when you have a really bad patience who's complaining
about every little detail, you walk out of the room.
You go, I want to see her the day before
I retire, so I never miss being a plastic surgeon.
Right at Bravo con, I want to go to that
the day before I die.

Speaker 1 (10:04):
So I just went. That was the greatest life ever.

Speaker 3 (10:09):
So funny anyway, So that's that. Yeah, So it was
a great trip with so much fun.

Speaker 4 (10:16):
Yeah, and you know, I love hanging out with Richard
and Daisy. Were we allowed to talk about them?

Speaker 3 (10:20):
Yeah, of course.

Speaker 1 (10:21):
So we're very good friends with Daisy's fwent isn't Richard
Marx and I don't know. They're just so cool.

Speaker 3 (10:27):
We're with other friends too. Would love to and Nancy
were there. He had a couple.

Speaker 4 (10:30):
But this Richard marks Ash and Stevens so crazy and
I just love asking him question like you know, he wrote,
we were talking about battreet boys and who he's worked
with Nick Carter before, and of course he wrote that
song for in sync this I Promise You, This, I
Promise You, which is one of those songs. Every once
in a while, there's a song. The first time you
hear it, you feel like you heard it, heard it already,

(10:50):
and you it's your favorite song and you're only a
quarter way into it. Hear this I Promise You by
end sync and he wrote it and I, when you
were writing this song, did you know? He goes no,
you didn't know that song was one of those songs,
and he goes no, I had no idea.

Speaker 1 (11:08):
It's just amazing. How did they What does that like
come from?

Speaker 2 (11:11):
He's so talented.

Speaker 3 (11:12):
He's a new album coming out and I can't tease it,
but it's so We were traveling with them in June. Yeah,
and he plays the whole album and I am obsessed.
I'm just obsessed.

Speaker 1 (11:24):
And he is one of the uniquely coolest guys I've
ever met.

Speaker 3 (11:28):
You know you love the thing. One of the lessons
I feel like we've learned as we've gotten older is
you know your your circle shrinks. That's for sure. Yeah,
Girls that you know your friends, the circle shrinks. Couples,
all of that, it really shrinks. So to meet like,
I don't know, I don't eve remember when we met
him ten years ago, Yeah, you met him. I met

(11:48):
Richard first, but then we became friends and over the
years we've become very very close friends.

Speaker 2 (11:52):
But that is a unique thing.

Speaker 3 (11:54):
So I guess what I just want to say is
if you collect people in your life later in life
that are special, foster that relationship because I just nothing
cooler than that.

Speaker 1 (12:05):
Yeah, friendship group has shrunk massively.

Speaker 3 (12:08):
But then you you just keep the really really good ones.
All right.

Speaker 2 (12:12):
Well, anyway back to our Shaddenford story.

Speaker 1 (12:14):
Oh, if you hate us, you're gonna love this story.

Speaker 3 (12:17):
But thanks for a great weekend.

Speaker 1 (12:18):
Thank you. That was fun. Yeah. And by the way,
one on one thing about the hotel.

Speaker 3 (12:23):
Yeah, and so I thought we were going to get
away with that.

Speaker 1 (12:27):
No one wants to hear about marrit relationships boring.

Speaker 3 (12:30):
Okay, okay, can you clarify that, because whatever you say
that it sounds like married sex is boring.

Speaker 4 (12:35):
No one wants to hear about a married couple sex life, right,
I don't want to hear about I don't you know,
I don't want to.

Speaker 3 (12:40):
Hear about single people's sex life.

Speaker 4 (12:41):
To be it depends if it's some friend of mine
who just became single and he's telling me about all
these chicks you.

Speaker 3 (12:47):
Want to hear about that.

Speaker 1 (12:49):
Hold on a secondly, don't want.

Speaker 3 (12:51):
To hear right because is that like a voyage.

Speaker 1 (12:53):
Down and want to touch myself during it? Ahead? That
is so.

Speaker 4 (12:58):
I'm just kidding. It's gross, but I'm kidding. But anyway,
but you and I were having We're in the hotel.

Speaker 3 (13:05):
I don't think the story is.

Speaker 1 (13:07):
Oh, so I won't tell the storys let's move on.

Speaker 2 (13:09):
Then no, you could tell it.

Speaker 4 (13:10):
So We're in the hotel and we're having a moment
and I think like, oh, this is good. I'm looking okay.
I've been lifting weights lately, you know, maybe a little chubby,
but not too you know, while I'm lying down even
I look good lying down sometimes. And so i'm you know,
getting things moving. And it starts and you put on

(13:31):
the eye mask.

Speaker 3 (13:33):
It was bright.

Speaker 4 (13:34):
You put on the eyemask, and I went, wow, listen,
who is she imagining?

Speaker 1 (13:39):
I am right now I'm thinking, who is she imagining?

Speaker 3 (13:44):
I am just sold the whole story that you're going
to touch yourself because you're listening to the voyeuristic single
friend of yours with something.

Speaker 1 (13:51):
We're going to cut that out now, and I can't.

Speaker 3 (13:55):
Wear an eye mask. Did you not see last week's
episode there was a very hot server.

Speaker 4 (14:01):
By the way, I saw that because you know, I
don't watch the show, and I saw you identified some
dude on the show as.

Speaker 1 (14:07):
A hot server.

Speaker 2 (14:08):
Did I agree?

Speaker 4 (14:09):
All I know is you know I said the writing,
oh he is hot. That was from Heather he is hot?
And I thought, huh, what if there was a scene
where there was a server and Slade said to me,
look how hot this chick is, and I go, she's
smoking hot, or I said she's a smoke show pissed,
you'd be pissed.

Speaker 1 (14:30):
Yes, Yet if you call it a server hot, that's okay.

Speaker 3 (14:34):
Well he could be my star, by the way, he
could be my son.

Speaker 2 (14:37):
Men do that women.

Speaker 4 (14:39):
Women of a certain age are dating men of a
muchach these days.

Speaker 3 (14:43):
Here was the thing about the imask. I personally not
to be too TMI, but I I like morning Sacks.
I think it's I love it right and for some
reason weird because usually in Vegas they do blackout shade
blacked out.

Speaker 1 (14:59):
Really, you can actually see me. Hence the imask all right,
not seeing it? Blame you. I'm just calling it out.

Speaker 3 (15:07):
That's not that wasn't why the I mask.

Speaker 1 (15:09):
I didn't wear an eye mask. I took it off.

Speaker 3 (15:11):
Well, you used to remember, we used to get into
an argument because you'd have your eye mask on your
head like a.

Speaker 1 (15:16):
Yeah, but I didn't cover my eyes. I like the
feel of it.

Speaker 2 (15:19):
I know, I just but it was just too bright
for a minute.

Speaker 3 (15:21):
But are not right?

Speaker 1 (15:22):
But do you have your eye mask in your head?
You had in your face and your eyes.

Speaker 2 (15:26):
I took it off rather.

Speaker 1 (15:27):
Quickly, So how was I looking with that imask on?

Speaker 3 (15:30):
I thought you looked better with it off.

Speaker 1 (15:39):
So we're going to talk about our real estate fails?

Speaker 4 (15:42):
Okay, should we give a little retrospective on our real
estate fails and winds and then end up with the
giant fail?

Speaker 3 (15:48):
Well, listen, let me just preface yes, but let me
preface the whole thing with just saying that we never
intended to be real estate people like that. It wasn't
a goal. We never said, oh, we're going to do
a lot of real estate, or we're going to build houses,
or we're gonna that. We sort of are like unwitting

(16:10):
house flippers, and we never this house that we just sold,
I think was the first house we ever put on
the market. Maybe one other.

Speaker 4 (16:22):
We never put that one on the market that we
bombed in Newport Beach and the Port Streets.

Speaker 1 (16:26):
That one. Yeah, we put that on the market that
I was on the market.

Speaker 3 (16:29):
That was a disaster anyways, So yeah, I mean it
just sort of happened by accident over the years.

Speaker 4 (16:34):
Yeah, so our experiences, we always wanted to live in
an ice house. We never really thought about buy a house,
fix it up, sell it, make a lot of money,
take that, put it into the next house, move up.

Speaker 1 (16:47):
And up there.

Speaker 4 (16:47):
It wasn't our plan, no, but it was our plan
to get better and better houses because we spent I like,
I like having an ice house.

Speaker 1 (16:54):
I like spending time at home. I love it. It's
like my thing.

Speaker 4 (16:58):
So we started out very briefly when we met. Do
you want to tell that story or was that going
too far back? Very quickly when we met, you know,
we bought a house in on Balbo Island.

Speaker 3 (17:13):
No, No, the first house was in bel Air, right.

Speaker 4 (17:15):
We got a house in bel Air, and then we
bought a house in Balboiler that's right, house in bel Air.

Speaker 1 (17:20):
It was when the market was screaming.

Speaker 3 (17:21):
Screaming, so we bought. Yeah, So we bought this house
in bel Air and we did a I did a
remodel on Yeah, that's where this all really started.

Speaker 2 (17:29):
Yeah, I did a remodel on the house, and.

Speaker 1 (17:31):
It overlapped the market going through the room.

Speaker 3 (17:33):
It was going crazy, and we were we were pregnant
or we just said the twins, and we were like,
you know, I wonder if we should get something bigger
or better or all.

Speaker 1 (17:44):
This was a giant house.

Speaker 3 (17:45):
That was a nice house, but we didn't love the
position on the street. Whatever. Anyway, I made up a
number and it sold full price in like like ten days.

Speaker 4 (17:53):
To a criminal went up posting a party for Clinton. Yes,
and then went to jail.

Speaker 1 (17:58):
Yes. Yes. And so we met a fortune on that.

Speaker 3 (18:01):
And they redecorated the whole thing in VERSACEI.

Speaker 1 (18:04):
Yeah, And then we moved down to we got.

Speaker 3 (18:07):
A then we got a place in Balboa Island because
we were going to go back and forth because I
was still sort of working.

Speaker 1 (18:13):
So we bought it three quarters the way through the construction.

Speaker 2 (18:15):
And I finished the construction.

Speaker 1 (18:17):
Yes, we did well in that house, too, hugely well
in that house.

Speaker 2 (18:20):
But then we needed a place to live.

Speaker 3 (18:22):
And at the time, the prevailing school of thought was
that if you're going to be in a place over
two years, you don't rent.

Speaker 2 (18:30):
It was a waste of money.

Speaker 4 (18:31):
You purchased because the market was going up so high.

Speaker 3 (18:34):
Right, So the prevailing school of thought was that if
you're going to be in a place over a couple
of years that you don't rent. Rented was a waste of.

Speaker 1 (18:40):
Money because the market was going straight out, right.

Speaker 2 (18:43):
So we ended up buying this house.

Speaker 3 (18:44):
And now, if you want to really talk about what
it means to listen to the universe, the universe was
telling us to walk away from this house. But we
had two little kids, and we were about to go
through IVF again.

Speaker 2 (18:58):
And have the third kid, and we needed a place
to live.

Speaker 3 (19:01):
And there was nothing where, no houses anywhere, And so
we finally found this house. We made a deal for
the house. We're moving in, gorgeous, huge backyard, prime family
area of Newport Beach, one of these beautiful communities with
parks and schools and things, and we bought it, and

(19:21):
we were in escrow and the seller tried to get out.

Speaker 1 (19:26):
Of it, wanted to pass money to get.

Speaker 3 (19:27):
Out right, So first they asked to get out of it,
and we're like, you know what, we really need a house.
And then they offered us one hundred thousand.

Speaker 1 (19:33):
Dollars to walk away.

Speaker 3 (19:36):
Yeah, to walk away, one hundred thousand dollars, and we
were like, yeah, we read the house whatever, and we
should have walked away.

Speaker 4 (19:44):
Well, there's one detail you're not telling and then we'll
wrap it up and get to this last fail. So
we had bought this amazing ocean view lot in one
of the nicest parts or.

Speaker 3 (19:52):
We moved into the Port streets. I don't think.

Speaker 1 (19:54):
Here's the thing.

Speaker 4 (19:55):
We bought this amazing ocean view lot in a place
called Pelican Crest, one of my favorite places of all time,
with dead on lookout point views, one of the prettiest
places in all of Newport Beach, and it was really
on billionaire's row and it was my dream.

Speaker 1 (20:10):
To build a house there.

Speaker 4 (20:11):
So we bought the lot and we moved into this
temporary house that we bought. We shouldn't have in the
Port streets. So we sunk a bunch of money in there,
but we were depending upon that money once we built
the giant house on the Ocean View lot, to sell
that and put it back into the new giant house,

(20:33):
which was like seventeen thousand square feet.

Speaker 3 (20:35):
Yes, but we bought this Port Street house really well.

Speaker 1 (20:41):
We thought we did thought we did it. Let's give
some numbers so people can remember what I do. We
bought two three.

Speaker 2 (20:47):
Two three big nights.

Speaker 4 (20:49):
We probably put we didn't twenty down into it. We
put real money into it.

Speaker 3 (20:53):
We put real minded, but we did I did a
quick remodel. I didn't spend that much money on the house.
Maybe forty again.

Speaker 4 (21:00):
So we're probably well, we were probably five hundred thousand
into it.

Speaker 3 (21:04):
Okay, where are you getting the worst?

Speaker 1 (21:07):
Normally you got to put twenty percent right.

Speaker 3 (21:09):
Oh, you're saying hard money what we put down?

Speaker 1 (21:11):
Okay? Got it?

Speaker 4 (21:11):
So we put five or six hundred thousand into it. Okay,
that we mortgage down payment and so on. And we
were building this eleven million dollar house in Pelican Crest,
right that was going to be worth when we were done,
should have been worth thirty. It was a really good opportunity.
It was one of these rarefied lots we bought on
our reseal. Okay, so the market's going up and up

(21:34):
and up, and we got the house and we you know,
it was impossible to get the house.

Speaker 1 (21:39):
They fought us. We pushed through it.

Speaker 4 (21:41):
We got the Port Street house, and then two thousand
seven and eight struck.

Speaker 3 (21:48):
I thought it was eight o nine.

Speaker 4 (21:49):
Eight o nine, the global financial crisis and there was
no plastic surgery and there was no business.

Speaker 3 (21:56):
Was the perfect storm that no money was coming in.

Speaker 4 (22:00):
The real estate market was zero crashed. So we finished
the Pelican Crest house. That was time to move in
time to move into this beautiful giant ocean view house
that's on the first three seasons of the Orange County
housewise you can see it. Amazing, giant movie theater, double staircase, incredible.
And then we needed the money from the Port Street house.

(22:24):
Except that two point three million dollar house now was
worth if you could sell it one point one.

Speaker 3 (22:31):
No, yes, I mean we sold it for two to one.

Speaker 1 (22:34):
No, not even close.

Speaker 3 (22:35):
Yeah we did.

Speaker 1 (22:36):
No, we didn't, we did, No, we didn't.

Speaker 3 (22:39):
What do you think we sold it for.

Speaker 4 (22:40):
We couldn't sell it because there were no sales zero.

Speaker 2 (22:44):
Tell me again what we paid for this house?

Speaker 1 (22:45):
Two three?

Speaker 3 (22:46):
We paid two three, And what did we end up
selling it for one three? You think we lost a
million dollars.

Speaker 1 (22:52):
No question about it.

Speaker 3 (22:53):
Really, Yes, I remember we paid the bank. I thought
we paid the bank two hundred grand, No.

Speaker 1 (22:57):
Eight hundred yeah, that so we needed that money for
furniture and all the other stuff for the big giant house.

Speaker 3 (23:06):
We had no furniture, so we moved. We might as
well have had milk crates in the spool.

Speaker 4 (23:10):
We moved into the big giant house with no furniture,
and nobody was having plastic surgeon. Nobody's going out to dinner.

Speaker 3 (23:18):
Back then a perfect storm.

Speaker 4 (23:20):
Yes, everybody was out of work. There was nothing happening.
You guys all in this room, I think, did you
experience the global financial crisis at all?

Speaker 1 (23:28):
You did? Remember what that was like? Remember the anxiety
of that?

Speaker 3 (23:31):
It was so bad.

Speaker 2 (23:32):
It was such a perfect storm, fucked.

Speaker 4 (23:36):
Yes, And everybody in their sister was buying homes with
money they couldn't afford. There was no money down. The
world literally was coming to an end. I know that
because I'm very into stocks and the stocks.

Speaker 1 (23:49):
I owned a lot of stocks.

Speaker 4 (23:51):
I didn't have to sell them, thank god, But they
all went down to I don't know, an eighth of
the value, almost as bad as the dot com boom.

Speaker 1 (23:58):
In the two thousands.

Speaker 2 (24:00):
Was not a great deal.

Speaker 1 (24:02):
Not a great time. But anyway, long story short.

Speaker 3 (24:05):
But I would tell you the most depressing I will
never forget because if we could have afforded to at
the time, we would have held onto that house until
things rebounded, rented it out, whatever. But we needed that money.

Speaker 4 (24:18):
What's amazing is so we're on that house. We're in
that beautiful new house with no furniture, nobody's having plastic surgery.
And then things started to slowly get better. And then
we started the Orange County Housewives, as stressful as that is,
particularly your first three seasons when you don't know how
to navigate the Orange County Housewives. And we the market

(24:39):
starts improving and we decide to sell that house.

Speaker 2 (24:43):
Someone knocked on our door.

Speaker 1 (24:45):
Someone knocked on our door. We sold the house.

Speaker 4 (24:47):
We made a lot of money, and then we bought
even a better lot in Crystal Cove that was three
times the size. But we made a lot of money
on that house. But we sold that house to a criminal,
which which house Pelican Crest just did. Remember he never
moved in. He was like, yeah, mafia or whatever something

(25:11):
like that.

Speaker 3 (25:12):
We allegedly, we don't know.

Speaker 1 (25:14):
We don't know.

Speaker 3 (25:16):
I don't know. Then he but the money went hard.
Even what I do remember is even down to the wire.
Remember Gary Glass, Yes he was no I know, but
remember that one to the first criminal in bel Air
was like, I don't know, guys, I don't know criminal.
He's all going. The same thing happened in Pelican Crest.

(25:37):
It was like, I don't remember who is our real estate.

Speaker 1 (25:39):
He wouldn't show us that he had money, but he went, yeah, yeah.

Speaker 3 (25:42):
Usually you have to what do you call that? You
have to you know, we have to show you the
group of funds. There you go, you have to do that.
He didn't do the proof of funds. Our agent was like,
I don't know, guys, I don't know if it was
going to go hard. I don't know if the money
is going to go hard. But it did.

Speaker 1 (25:57):
Yeah.

Speaker 3 (25:57):
So then then we moved to Emerald bayn didn't buy this.

Speaker 1 (26:01):
We did. We weren't that stupid.

Speaker 4 (26:02):
We rented, kept the money in cash, and then we
built that giant house.

Speaker 1 (26:06):
Yeah in Crystal Cove.

Speaker 3 (26:08):
Yeah, we did well.

Speaker 4 (26:09):
And I said I I never want to move. I
want to be buried in the backyard. I love this house.

Speaker 3 (26:15):
So much until someone knocked on him.

Speaker 4 (26:17):
Until the third Ridges guy in China said I want
to buy your house for like thirty percent more than
it's worth.

Speaker 1 (26:24):
And I go, you can bury me in some other backyard.

Speaker 3 (26:27):
And so it was so crazy about that. I mean,
I'm sure people know the story, but we had just
bought this penthouse in la As like a little pieta
tear for me and Terry for some day. In ten
days it's a two bedroom, and ten days into escrow,
Josh Altman, who I didn't know at the time, was
blowing up my social media and going, you know, I
got a guy that wants to your house. I so

(26:48):
didn't believe it. I went for a run. I was
sweaty when Josh and the entourage showed up and he
didn't know the house because he had never been in it,
and we had hidden rooms and things. I gave the tour,
and I gave the tour like I was giving you
to the door. I took the family around and I
opened the towel warming drawers and I was like.

Speaker 1 (27:06):
Touch it, and he loved it. He spoke English too,
and then.

Speaker 3 (27:11):
They brought I don't know if I've ever told the story,
but they brought their They wanted to come back for
sunset that night, so I had to go film and
I went and filmed, and I came back and they
had they came and they had a child with them
that was very young, like cup four. And someone told
me that it was the kid that made the decision
about buying the house.

Speaker 1 (27:30):
He took him down to the So.

Speaker 3 (27:31):
What I did was they the mom said to me,
can I show him the game room downstairs? And I
said sure, and I ran, I go, give me a
minute to turn on the lights.

Speaker 1 (27:39):
And basketball thing.

Speaker 3 (27:41):
I ran downstairs and I turned on every Arcade game. Yes,
and all I had like these TVs that were set
up like a game, movie, theater, candy and the popcorn.
And I turned everything on him. Kid must have lost
his mind. And they bought it the next day.

Speaker 4 (27:55):
Yeah, and so it was the third highest sale in
Orange County history. Yeah, and we sold it for fifty
five million dollars.

Speaker 3 (28:03):
When we did well. Yeah, and we also it's we
bought it well and built it.

Speaker 2 (28:09):
We meaning we bought the land.

Speaker 4 (28:11):
We bought the land for prices that were twenty years earlier.

Speaker 3 (28:16):
And we built it well, and I was the designer
on the house site, designed every square into that house,
every edge detail.

Speaker 4 (28:24):
That was the most spectacular house. And then we were done.
We weren't going to buy, weren't going to do this anymore,
figuring it out, what figure are we.

Speaker 3 (28:33):
Going to do? And then Nikki was working with Josh
Altman for the summer a couple of years ago, and
they wanted us to see this house. So we went
up to see this house, which was the Dino Dila
Reentis estate, who was a very famous producer. And I
mean long sexy driveway, eight point three acres, a house

(28:57):
that was built in the forties.

Speaker 2 (28:59):
There's a tennis court pool and the.

Speaker 1 (29:01):
View is just on the edge of a cliff.

Speaker 3 (29:03):
And the view is but not like in a dangerous
way like not on.

Speaker 1 (29:07):
Not on, No, No, there was so much.

Speaker 3 (29:09):
Time to fall off a cliff. No, it wasn't like
on you know Steltz, thank you.

Speaker 1 (29:13):
It was not on a mountain.

Speaker 3 (29:14):
It was on a mountain. And then the view is
Canyon City, ocean, pure ocean. To the right of us,
below us Drake's house that he bought from Robbie Williams.
Up on the left hand bluff. Over there is the
house lebrawn Is building, ye and other celecrit just so
many people live in this area.

Speaker 1 (29:34):
Have been originally put on the market.

Speaker 4 (29:37):
For thirty eight for thirty eight million, thirty eight million,
and so it sat on the market, and we ultimately
waited and waited, and all of a sudden it came
up when we had, you know, a bunch of money
from our sale and so on and so forth, we
thought we bought it for sixteen.

Speaker 1 (29:53):
Point one million. Yep.

Speaker 4 (29:54):
And this is eight point three acres of the most
perfect Beverly Hills property you've ever seen your life.

Speaker 3 (29:59):
I mean, the land it's is worth more than that.

Speaker 4 (30:01):
But if you have if you had a house on it.
It had already had a tennis court, but if you
had a really big house and another big guess house,
we we felt it would be worth in the eighties.

Speaker 3 (30:14):
Well, understanding that Drake's house he bought it for eighty
now it's on the market for eighty five. And that
the view of that house is he's lower. I don't
know if I can explain this, but it's almost like
he's in the canyon, so his view is narrow. Our
view it's like we're on perched on the hill, so

(30:35):
our view is wide. I mean it's I have posted
and I will post it on some sunsets from there.
It is literally gorgeous. Just you to get that kind
of property and it's so private. Yeah, no one's encroaching
on you all the things. Now, there were some things
when we bought it. There was a wildlife ordinance that
was going into effect that we had to get ahead of.

(30:57):
You can't knock that house down. That was an issue
because so to knock a home down, you have to
remediate the hill.

Speaker 2 (31:07):
And what that means is, you.

Speaker 3 (31:10):
Know, when you live on the in the hills, they
have to make sure that it's safe and it's you know,
solidified and shored up. So people put in caissons or
pylons under their pools and that kind of thing just
to make sure that the hill, or they put vegetation
to make sure that the hillside is going to withstand
you know, fires and floods and things and whatever. So

(31:33):
the problem with knocking down this house is in order
to remediate the whole hill, they would have to engineer
it and some of the slides in this area are
wait for it, prehistoric, like a stegosaurus was walking by,
so they don't really know how to fix that in
to do it, so you can't, or else you'd have

(31:54):
to sew over engineer this hill. You'd spend twenty million
dollars just on the hill, So forget that, right. We
had a good plan. We were going to do a
fifty percent remodel on the home, turn the nine thousand
into ten thousand square feet, and I also have plans
for a forty seven hundred square foot guest house. That
is like I was doing this really sexy, like speak easy.

(32:15):
It was calling it Dino's full gym, two bedrooms upstairs,
and a.

Speaker 1 (32:20):
Full movie theater, massive movie theater.

Speaker 3 (32:22):
Really cool.

Speaker 4 (32:22):
This was going to be a billionaire's home for sure,
going to be worth eighty to eighty five million, So
we're going.

Speaker 3 (32:29):
To one hundred percent.

Speaker 4 (32:30):
So we're I think you probably liked numbers. I'd like
to hear these numbers. Yes, sure, So we bought it
for sixteen to one. We wanted to put fifteen.

Speaker 1 (32:38):
We ended up.

Speaker 4 (32:39):
We knew that. We thought, okay, we're going to tell
the builder we're going to put fifteen into it, but
we were comfortable going up to maybe twenty yeah, twenty twenty three.

Speaker 3 (32:50):
That's why we said fifteen, because you know, it's always
going to take more time and it's always going to
take more money. And we've done enough of these to know.
But listen, we've done so many homes. And that's why
this story is really important because I know these numbers.
The money is really large, but I don't care if
your budget's you know, five thousand dollars. You have to
be on the lookout for these things. And as savvy

(33:11):
as we are and as many homes, you know, this
didn't go well. So in order to get through this
wildlife ordinance, we had hired a bunch of people very
quickly because we needed plans in the city to get
grandfathered in. So we did that and then in about
the six seven month mark, realized we really didn't have

(33:31):
the correct team, so we hired a different team. This team,
this builder is like one of the big guys in
LA And again I understand these things. They see our names,
the price goes up. You see the zip code, the
price goes up. You you know, get to the property,
the price goes up. So understanding all that. I sat
with this gentleman and really liked him, and we had

(33:54):
our media of the minds, and I showed him the
plans and I said, what do you think price wise?
And he looked at all plans and everything and he said,
I'm thinking we could probably do this for about fifteen million,
and I said, great, because that is my budget. And
in my brain, I'm going, so it's going to go
up to eighteen to twenty right, all right, all right,
but fine, but as long as I know that in

(34:14):
my head. But I'm not going to tell him twenty
because then that becomes twenty five. Anyways, So we started
down the road with him and we were not getting
a budget.

Speaker 4 (34:25):
Yes, and he was trying to start the construction. And
we had been through this in Idaho with the same
type of guy who wanted to start the construction before
giving us some budget.

Speaker 3 (34:37):
We're like, no, no, we need a budget.

Speaker 1 (34:39):
I even told this guy's story.

Speaker 4 (34:41):
Look, we try to build a big house in Idaho
where we have some land, and we wanted the budget.
The guy wouldn't give us the budget. And then finally,
after he was starting all this land work, I said, dude,
you have to give us the budget. We got to
make sure it's within our budget. We fly up there
in the dead of winter. He tries to get us
in ToxS caterd by offering us drinks.

Speaker 3 (35:01):
Not good drinks. By the way, it was like limo vos.

Speaker 4 (35:06):
We're flipping through the papers and he gets the second
last paper.

Speaker 1 (35:11):
He goes, see it's on budget. I go okay, and
I go for the.

Speaker 4 (35:14):
I go for the whole thing. He goes yeah, for
the house, and I go for the whole thing, goes
yeah for the house. And then I flipped the last
page and the entire project budget was there, and it
was eight million over. And that was the starting budget,
knowing it's going to go out thirty forty percent even
if you do exactly what they say, right, because that's
what happens. And I look at HM, I go, what's

(35:36):
this number. He goes, well, that's you know what the
project costs. I go, well, you knew I wanted to
have the original the number eight million.

Speaker 1 (35:44):
Less, and he goes, yeah, that's for the house.

Speaker 4 (35:47):
You said for the house, And I went whoa okay,
And so I said, okay, thank you.

Speaker 1 (35:53):
We got on the plane, went home and I fired him.

Speaker 4 (35:57):
The new builder in Beverly Hills. I go, let me
tell you this story that just happened to be in Idaho.

Speaker 3 (36:01):
So he tells him the whole story, and the guy's like,
and I.

Speaker 1 (36:03):
Got him home.

Speaker 4 (36:04):
I got home, and I fired him on the spot.
So I'm telling you this story because if it isn't
on budget, I'm not going to do it. I'm going
to drop the project immediately.

Speaker 3 (36:20):
So cut to So, Okay, so we're waiting for the budget.
We're waiting for budget, but I think we felt sort
of comfortable because we had he had picked the number
that we had picked. So we're waiting for it, waiting
for it, and one day he says to me, listen,
because we had a timeline, we were going to move
out at a certain month so we could start the

(36:40):
project because this should be really an eighteen month build,
which is going to turn out to be two and
a half years. So we wanted to get going. So
we were about to move out of the house and
he said, hey, you know, we should do the asbestos abatement.
We should test for whatever it's called. So I said,
what does that entail? And he goes, oh, it's not

(37:00):
a big deal. They like, pick a little thing here,
pick a little piece of the floor, pick a little
thing here. I said, okay, great, you can do that.
And then he said to me, okay, great. So we
did that, we moved out, and he goes, so, let
us do the asbestos abatement, and I stupidly didn't say,
what does that entail? Well, apparently what that entails is

(37:21):
picking up the floor, taking the mirrors off the wall.
But what was crazy was what they did was very aggressive.
He ripped doors off the walls. He tore it apart,
he pulled the sconces out.

Speaker 4 (37:34):
Yeah, we still don't have a budget, and there's still
no budget. So he's getting us pregnant. He's putting more
than the tip in. Yep, he's doing.

Speaker 1 (37:42):
This and I go, whoa, what about the budget? Man?

Speaker 3 (37:45):
He goes, oh, he wanted to present it to us,
and I said, absolutely, we want the budget. I go
send it to me.

Speaker 1 (37:52):
So he sends the budget.

Speaker 3 (37:53):
Eight million dollars.

Speaker 1 (37:55):
Exactly like the other place.

Speaker 4 (37:57):
And then I call him up and I go, do
you remember remember that story I told you when I
met you how I fired the guy and it was
eight million dollars budget. I fired him as soon as
you get he goes, he goes, yeah, I remember that.
I go, you did exactly that. That was the only
story I told you, I'm not participating.

Speaker 2 (38:14):
What do you say when you said that?

Speaker 1 (38:15):
He goes, well, I mean that's that's you know, you guys,
you know it's the price of that's what.

Speaker 2 (38:19):
Okay, But this is what was crazy about it.

Speaker 3 (38:21):
So I started going through the line items right, and
I noticed that the budget for the interiors was enormous.
Now I had decided to partner with this incredibly talented
designer named Max Novel. He is a great guy, and

(38:41):
I'm telling you we were so in this project. Max
and Terry and I. We went to Italy together, we
were in the quarries together, we went to Milan, we
did furniture shopic and Max is brilliant at what he does.
But he's really thoughtful about budget and like he would

(39:01):
say to me when we were picking out marbles and things,
he was like, look, we're not going to do that
in the kitchen. That's too expensive. Let's do that for
a powder room or let's you know, stuff like that.
So I thought, screw it. So I sent Max the
budget and he's like that's not our budget.

Speaker 4 (39:18):
Well, when you look at the budget, so this builder
had a supervisor.

Speaker 3 (39:24):
But this was on top it. I'm saying. Even one
sub was telling me, I don't remember exactly what the
numbers was, but let's say the builder had eight million
dollars of finishes and Max was like, no, we have
three million dollars. Here's all the numbers, right, right.

Speaker 4 (39:40):
So but aaked into this budget was there was a supervisor.

Speaker 3 (39:45):
Okay, supervisor three hundred thousand dollars a year.

Speaker 1 (39:48):
There was a project manager.

Speaker 3 (39:50):
Or some kind three hundred thousand dollars a year.

Speaker 1 (39:52):
Yeah.

Speaker 4 (39:52):
Then there was like an accounting charge, which is I
almost was wanting, did you put your our payment in
here too? Did you put your rent on your offices here?
Everything that he was, his basic infrastructure of his business was.

Speaker 1 (40:09):
On there was on there.

Speaker 3 (40:10):
The other thing to understand is that most contractors charge
a percentage of the budget, right, and that's their fee.
But just like, do you remember when we had dinner
at the French laundry and they tipped themselves on the
tax It.

Speaker 1 (40:27):
Was amazing and we were like and the alcohol and.

Speaker 3 (40:29):
The alcohol, so we're like, what if you order a
five thousand dollars bottle of wine. Too bad.

Speaker 2 (40:34):
It was just like that.

Speaker 3 (40:35):
So he had said to us, Oh, but the project
manager and stuff, you just pay them directly. But it
was part of the whole budget. So there had to
be two million dollars in salaries in there paid.

Speaker 1 (40:45):
We had to pay him to watch the project manager.

Speaker 2 (40:48):
And he was charging us a percentage on.

Speaker 3 (40:52):
Top of it.

Speaker 4 (40:53):
Yeah, so he was basically going to take all of
the profit.

Speaker 3 (40:57):
So I went through that whole budget and I started
slicing things off, and he did the classic thing that
people do in these scenarios, which is he wanted to
cut finishes. Oh yeah, to save money. It's like, no
one sees the framing right, Like there's a lot of
good framers out there. I mean, I think we're okay

(41:18):
with the Tzara of framers. I want the Chanelle of marble,
you know what I'm saying. Like, I was like, what
is going on here? Anyway, clearly wasn't going to work out.
We let him go. Then we were trying to figure
out what to do, and so we were talking about it.
Crystal Minhkow, who I love, told me she had a

(41:40):
builder that she loved and.

Speaker 2 (41:44):
It was like, do we start over.

Speaker 3 (41:46):
We are so far behind now by the time we're
done with this house, our youngest child's going to be
a senior in high school. And then honestly, we have
so many other projects going on right now that I'm
so excited about. And I felt scripted stuff, and so
I I thought, do I personally want to be on
a construction site for the next three years?

Speaker 4 (42:05):
And then the fires, the fires app Yeah, so we
couldn't really get fire insurance for the place.

Speaker 3 (42:11):
And it was one hundred and fifty thousand dollars a
year for.

Speaker 1 (42:15):
Fire before construction started.

Speaker 2 (42:17):
Before the fire, and then.

Speaker 1 (42:18):
The fires happened.

Speaker 4 (42:19):
And even if you could get fire church, and I'm
not sure you could because we had to put essentially
a fire department on the property.

Speaker 1 (42:26):
We had to put well.

Speaker 3 (42:27):
We had a fire hydrant zoned on the property and
we were going to have our own fire department, which I,
by the way, can I.

Speaker 2 (42:35):
Just tell you I was very excited about that, Yeah,
because I.

Speaker 3 (42:37):
Thought I could do a logo. You know, I like
a lot the hot guys around and then well, as
long as you're fantasizing about your single friend's girls, I
think I can have a fireman fantasy, and I was
going to design a cute app.

Speaker 4 (42:47):
I wasn't fantasized by my single friend girls. He said,
you were fantasizing about the server. He said, you're going
to be wearing a mask while having relationships. Said you
were going to touch your What does that tell you whatever?

Speaker 1 (42:57):
Mine was a joke, yours was real life. Okay, but
I'm okay with that. But anyway, took it off. You
didn't take it off?

Speaker 3 (43:04):
I did.

Speaker 4 (43:06):
Well, it's because I said, really, mask, don't you want
to see what's happening here?

Speaker 3 (43:10):
Well? Also we were going to Chanel later.

Speaker 1 (43:12):
Oh yes, okay, yes, pragmatic. Yeah, So AnyWho, the fire
we we got an.

Speaker 3 (43:20):
Fire insurance went up to five hundred.

Speaker 1 (43:23):
Thou a year and that didn't include other insurances.

Speaker 3 (43:28):
That's just the fun.

Speaker 4 (43:29):
So it was going to be about seven hundred and
eighty thousand dollars a year of insurance to ensure the house.
And I thought, and then we brought our builder up. Okay,
so then, yeah, so it was going to be that
and all that time.

Speaker 2 (43:46):
Flip that part out. We don't want to get in
trouble with.

Speaker 1 (43:48):
Them with who? All right?

Speaker 4 (43:53):
So anyway we decided, you know what we needed genis
in this project.

Speaker 3 (44:00):
We had a little come to Jesus conversation and it
was like this, I have to tell you, I'm going
to post the plans to this house.

Speaker 1 (44:10):
Amazing. Oh the pictures you do.

Speaker 3 (44:12):
Oh what Max and I designed together, I have to
tell you was so cool and interesting. They weren't done done,
but they were darn close. And Max and I will
do something else together because I just I'm obsessed with
and he's such a great guy and we have so
much fun together. So I love what we designed. But
at the end of the day, I mean talk about

(44:34):
listening to the universe, it's like, you know what, we've
done really well in real estate except for that Port
Street house, And now what just happened with this? So
I want to give them the numbers because.

Speaker 4 (44:44):
So we bought it for sixteen to one and we
sold it for sixteen to five. So it sounds like, wow,
they got their money back.

Speaker 1 (44:50):
Who name run a meeting new Okay, just to pay
all the teams and put the plans through.

Speaker 3 (44:56):
Well, I said this on the show. To break even,
we needed a solid nineteen five or twenty.

Speaker 1 (45:03):
To break even. To break even, but we had no honey,
how much do you think we lost in that house?

Speaker 3 (45:10):
Five?

Speaker 1 (45:10):
Yeah, it was a break even, right, Okay, so.

Speaker 3 (45:15):
Math, the math is in math not I do wife math.
Math is not mathing, So in wife math it's probably accurate.
But we lost I think we lost five million on
the house.

Speaker 1 (45:25):
We lost five point eight I think million.

Speaker 3 (45:28):
Yeah.

Speaker 4 (45:29):
Yeah, so we sold it for sixteen five while we
made four hundred thousand.

Speaker 1 (45:34):
News, we lost five point eight. I'll tell you why.

Speaker 3 (45:36):
There's the mansion.

Speaker 1 (45:37):
We put all we bought the supplies for the guest house.

Speaker 3 (45:41):
Okay, hundreds and hundreds of thousands, hundred, one hundred thousand plus.
We had to pay all of these subs. We're using
the designer and the lighting designer, and the landscape architect
and you know, the structural engineer. We we have all
the plans.

Speaker 2 (45:56):
We did all that.

Speaker 3 (45:57):
It's millions of dollars and we.

Speaker 1 (46:00):
You know, we did a lot of stuff to the property. Right.

Speaker 3 (46:06):
We lived there for a year.

Speaker 2 (46:07):
It's important to know.

Speaker 1 (46:08):
Yeah, and we through stage furniture.

Speaker 3 (46:11):
We moved in for a year.

Speaker 4 (46:12):
Yeah, we it was we could subtract. We didn't really
live there, I mean we occasionally stay there. We still
lived in the apartment. Okay, oh right, yeah, we wasn't
our residence our we were trying. We were almost going
to do a TV show there, so we filmed there
a lot, all right anyway, and then the thing about

(46:34):
Los Angeles. I don't know if you know across the
country this is true. But if you're in LA and
you sell, you sell a house that's over ten million dollars,
you have to pay five point five percent. It's called
the UL tax, the gross of the gross to Los Angeles.
So five point five of six.

Speaker 3 (46:52):
Of your profits of the grosser.

Speaker 4 (46:55):
Five point five of sixteen point five is like nine
hundred and sixty thousand dollars.

Speaker 1 (46:59):
Then you have to pay the Joshes. And as much
as we love.

Speaker 2 (47:02):
Them, have you seen their cars?

Speaker 1 (47:03):
Yeah, and we hang out with them, the josh Is
aren't cheap. They're Josh's. So it was Josh Squared.

Speaker 3 (47:09):
Flags and a bottle of Domo Mark.

Speaker 4 (47:10):
Thanks, yeah, thanks, and so and then we lost. So
we lost five point eight million dollars. So it was
a gigantic fil So if you don't like us, congratulations,
five bombed. We got killed on that house. So I
see someone I saw an article on Yahua Finance yesterday
they'd said, oh they broke even sixteen foive and there

(47:31):
and a lot of other people said they lost so
much money. You know, the haters that write articles hate
articles about it because they must have lost so much money.
And you're right, the guys, the guys, so congratulations, the
schadenfreuders who want to see us.

Speaker 3 (47:45):
What it be wrong to tell them what we did
with the money.

Speaker 4 (47:46):
So the money we had just sitting there that we
were going to put in the house, I might have
put some into Nvidia before the Tendon one split.

Speaker 3 (47:57):
Still were okay, so said people, Sorry, sorry, we probably
actually made ten times the money you lost.

Speaker 4 (48:05):
We did, so I'm sorry about that. But I mean
we got killed on the house.

Speaker 3 (48:09):
Should have left it there. So people like the fact that.

Speaker 1 (48:11):
We failed so much. Yeah no, I think, yeah, the universe.

Speaker 3 (48:16):
All right, but but joking, I mean not that that's
a joke. But all of that aside. Here's what I'm
going to tell you. If you have to do a remodel,
if you want to build a home, you know what,
you really have to vet your builders. You It is
imperative to go with people that you that that you

(48:38):
know who they've worked with before. We wanted to use
our builder that we've done a few homes with in Newport,
but he wouldn't come up to La So that's why
we didn't use him, because he's the best. But you
have to know your builder. You must get a budget
up front. You must realize that some things are going
to swell a little bit time and money. But you

(48:59):
have to state firm and you have to do your
own research. You have to know what things cost. You
to know what lumber costs, you have to know what
trees cost. You must find these things.

Speaker 4 (49:09):
And if you're a house flipper, if that's like your
if you want you that to be your future, I
would take you, tell you this will be it and
we should wrap this up.

Speaker 1 (49:16):
I would tell you to take a step back because.

Speaker 4 (49:18):
I've been in this world for a long time and
I study finances every day all day. It's like my
major obsession besides surgery and obesity.

Speaker 1 (49:28):
This is the fourth.

Speaker 4 (49:28):
Industrial Revolution right now with AI and the biggest companies
in the world are going to become even bigger. And
if you have my advice to do with your money.

Speaker 1 (49:37):
Put it in. He's a doctor, by the way, yes,
but how have I done?

Speaker 3 (49:41):
You've done?

Speaker 1 (49:41):
Okay, okay.

Speaker 4 (49:43):
I would put it in the companies that are changing
our worlds. And I would put it in Nvidia and
Tesla and Meta and Google and Amazon. And don't be
so fast to be a house flipper. Give it to
Jensen Wong, give it to Elon Musk, give it to
Mark Zuckerberg, and let the eighth wonder of the world happen, which.

Speaker 3 (50:03):
By the way, Compounding is so into this shit, and
he is so into AI. I am very concerned. I'm
going to come home one day and he's going to
be writing a manifesto in chalk but on the wall.

Speaker 4 (50:14):
But you know what amazes me how many of my
fifty plus year old patients have never heard of or
barely heard of chat GIPT.

Speaker 3 (50:21):
I know, it's crazy, right, And I look at him.

Speaker 1 (50:23):
I go, I go, you're running.

Speaker 4 (50:24):
Kerosene when we have electricity. They go, what, I go,
You're riding a horse when we have cars. I go,
you have to incorporate this in your life because you
have a one thousand nine steins in your phone.

Speaker 1 (50:35):
Get it? Okay? Sorry, see I.

Speaker 3 (50:37):
Told you manifesto. Okay, Well, I know people are going
to want to know. We don't have time for this
right now, but people want to know what we're doing next,
where we're going to live next. Are we going to
do any more projects, major plans.

Speaker 2 (50:48):
Yeah, so we're gonna leave that there.

Speaker 1 (50:50):
But we also have big property that we're trying.

Speaker 4 (50:53):
We're trying to figure out what to do that could
be a fail, so you might stay tune for that
in Idaho in Corde Lane.

Speaker 3 (50:59):
Okay, you got to finishut No, I'm not talking about
Idaho right now.

Speaker 1 (51:03):
Go ahead, But we don't.

Speaker 3 (51:04):
Know where we're going to live. We're in the apartment building,
which we love, and you know, we'll see what happens.
We still need a place for our kids to come
home too, so we're figuring that out, all right. Guys, Well,
thank you so much for listening. I know I got
so many messages about this story. I hope we satisfied you. Yeah,
and thank you.

Speaker 2 (51:25):
Thank you for listening.

Speaker 3 (51:26):
And reminder, we release episodes every Wednesday at four a m.

Speaker 2 (51:31):
Pacific.

Speaker 3 (51:32):
You can listen on the iHeart Radio app, Apple Podcasts,
or wherever you get your podcasts.

Speaker 4 (51:37):
And by the way, if you do enjoy hearing us fail,
I still love you anyway, so