Bianca D'Alessio On Confidence, Gender Differences, Best Time To Invest In Real Estate + More
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Speaker 1 (00:00):
What's up, Its way up with Angela Yee And it
is Women's History Month and we are celebrating Wealth Wednesdays
with some special guest. Now, of course, my partner Stacy
Tisdale is here.
Speaker 2 (00:10):
Happy Wealth Wednesdays everybody, and we have a really special
Women's History Month and our Wealth Wednesday's real Estate Club
and we are talking about women who are making history
in real estate.
Speaker 1 (00:21):
We have one I love with us and you are
making history. And don't forget say here. I know he's
not a one. He's out the party.
Speaker 3 (00:28):
You guys are used to say.
Speaker 4 (00:31):
Two daughters, a mother and wife live in the house.
I'm the only dude, So.
Speaker 5 (00:35):
Yes, I respect female.
Speaker 1 (00:38):
Bianca Deleacio is here with us. Thank you for joining us.
Speaker 2 (00:41):
First having women making history in real estate. Bianca is
Nest Secrets International, number one agent in New York City
and fourteen in the United States. You are the founder
and CEO of the Master's Division at Nest Secrets, which
is one of the top producing teams in the country.
And you guys might know her as the start I'm
selling the Hamptons on Interview Max.
Speaker 1 (01:03):
She will make anybody sell their house in the Hamptons.
Speaker 2 (01:07):
Absolutely absolutely. So you really are a trailblazer and a
woman making history in real estate, and with all of
this selling that you've been doing in all of your success,
let's talk a minute about some of the differences you
see in women, women and men and their attitudes.
Speaker 3 (01:23):
Oh wow, that's a really good place to start. I think.
Speaker 5 (01:27):
I think with real estate, I think attitude is so
much of it. And I think the biggest difference I see,
and I hate to make generalizations, but unfortunately I see
it a lot. I do a lot of transactions, is
that men just tend to have more financial confidence in
the decision making. And so what I focus so much
on because the root of building confidence is education, So
(01:50):
making sure that I'm always constantly educating my clients on
how the market's shifting, how things are changing, how politics
is impacting real estate and trends, and empowering people to
make those those financial decisions for them.
Speaker 3 (02:03):
I would say that's the biggest difference.
Speaker 2 (02:04):
It is a confidence gap. It's was all investing, even
in stock market investing. I think prudential securities. How to
study women only feel only seven percent of women feel
capable about making financial decisions.
Speaker 3 (02:18):
That is crazy.
Speaker 2 (02:20):
Seven percent worthiness.
Speaker 1 (02:21):
That is a ques you know, if you think about it.
And there's this statistic that we were talking about. Before
the Equal Credit Opportunity Act in nineteen seventy four, banks
refused to grant women mortgages regardless of their income or
credit worthiness unless a husband or male relative co signed
the loan. Lender's continue to discriminate by requiring women to
provide proof that they wouldn't become pregnant, fearing that maternity
(02:41):
leave would impact their income. So imagine that type of
systemic discrimination nineteen seventy four is not okay. So that
did delay home ownership opportunities for women. And I do
think sometimes even people look at women as not being
as knowledgeable the way that we get approached in certain spaces.
Speaker 5 (03:00):
I don't think it's knowledgeable. I think it's purely confidence
and having the strength, the understanding or the voice to
be able to speak about to speak about financial security.
And it's so true, you know, you know, so many
decisions are made because of financial stability and being trapped
in a situation or not being able to progress forward.
(03:21):
And I think a lot of it at the root
of it is just empowering women to feel strong, to
feel confident and to make those decisions and giving them
creative solutions so they could enter the market, so they
could have those small wins and build that portfolio over time.
Speaker 2 (03:37):
Okay, to the only man in the room, talk about
the ways in which wealth Wednesday's Real Estate Club helps
women with this exact issue.
Speaker 4 (03:46):
Yeah. Look, it's a male dominated industry, right, so that
that of itself already gives it puts women in one
step behind when they're when they're approaching anything. So we
show them that anyone can do real estate, whether you're
a woman, a man, where you are, whether you are young, old,
have experience, no experience, you can do real estate. And
you should do real estate because it vastly improves your
(04:08):
chances at financial freedom. It vastly improves your chances at
having a nice nest that when you're ready to retire,
because just by buying real estate, it goes up over time.
So we just try to show everyone that regardless of
what your background is, regardless of your race, regardless of
you of your gender, you should get in the game
because it'll jump start your entire your entire savings.
Speaker 5 (04:27):
And I'd love to jump off of that as well
of just like the conception about getting into real estate
for so many people, they think that's buying their primary residence.
And there's so many ways to invest and to play
in the real estate space. Real estate is huge, and
I think I love that you're building community around that
(04:48):
and showing new homeowners, new buyers, new investors creative solutions
that they don't need to have as much capital as
they think they may need to have. Absolutely, or if
their credit is where they need to be and they
think they can't get a mortgage, now there's an alternative
for structuring really cool ways to put together deals.
Speaker 4 (05:06):
Absolutely, they're seller financing where you can make the sell
of your lender. And like going off what you're saying,
just because you live in an area that might be
a high priced area like New York City, for instance,
or Miami, Florida, South Florida I live, doesn't mean that's
where you need to invest, right. I tell people all
the time, if you don't have the cash or the
money or the desire to buy a high priced property
(05:28):
in New York City or Miami, Florida.
Speaker 1 (05:30):
Or the Hamptons or the Hampton.
Speaker 4 (05:34):
You can invest in other places. When you learn these
strategies When you learn how to analyze a rental property,
when you learn how to analyze and investment property, you
can do it anywhere. The entire world becomes your playground, right,
And that's really that's really what I try to teach people.
Speaker 2 (05:45):
Leanka, what do you think of this notion that we're
trying to do here of doing it in community?
Speaker 5 (05:50):
Oh?
Speaker 2 (05:50):
I love it.
Speaker 5 (05:51):
I love it because I think we're so much stronger
we come together. And like that part that you just said.
I think another big fear factor around real estate is
knowing all of the can opponents of how to analyze
a deal.
Speaker 3 (06:02):
Versus there could be someone who's really good with marketing.
There could be really someone who's really good with.
Speaker 5 (06:06):
Understanding the numbers, or putting the property on the market
and securing the right tenant, or making relationships so you
have great relationship with your tenant.
Speaker 3 (06:16):
Like, there's all different skill sets.
Speaker 5 (06:18):
And when you start to bring people together of like
owning your space and your domain of I feel really
confident in the numbers and I feel really good on
this specific location. Now, just think how much stronger of
teams that you could build and how like the confidence
starts to amplify because you're bringing the right people around you.
So I think, you know, whenever I think of entering
a new space, I always think you have to start small,
(06:40):
like dream big, but start small.
Speaker 3 (06:42):
And I think by.
Speaker 5 (06:42):
Building this community and pulling people in around you to
bounce off of your.
Speaker 3 (06:47):
Skill set will give people a lot more confidence to
enter the market.
Speaker 2 (06:51):
And it's Women's History Month. Yeah, what's interesting is historically
after the UH like even the start before the Civil War,
but after the Civil War, black women banded together and
started creating these secret societies where they would just pool
money and they would direct it towards land ownership. And
(07:12):
people don't know there are these secret societies of black
women going all the way back to I think we
have somebody from sixteen seventy, a black woman was the
first homeowner. Twenty five year old Zapora Potter Atkins purchased
a plot of land in sixteen seventy in Boston. And
all these women had these secret societies and everybody knows,
like Madame C. J. Walker from her hair care products,
(07:35):
being one of the first black millionaires. She was a
real estate investor. She had twenty five thousand agents out
there selling her hair care products and she made them
all take some of all those women take money and
buy real estate. Wow, and by land. So we have
this history yep, yeah, yeah. Then wanted you talk a
little bit about for women of color. All women of
(07:57):
color are now heads of households so much in the
United States. How important is it for them to get
on this bandwagon.
Speaker 5 (08:04):
I think it's so important because I think also when
you see someone else achieve and do and accomplish and
then talk about it, people get excited and they want
to get involved, and you pull more people in. And
so I think women banning together and creating and paving
that way and then not just doing it in silent
but talking about it, sharing about it being a resource
(08:26):
for other people is so so so important to continue.
You know, this point in time we will look back.
People will look back on this moment in history as
the learning opportunity and the experience and continue to set
the foundation and lay the building blocks for what does
the next generation of women investing in owning real estate
look like?
Speaker 1 (08:46):
You know, That's how I got into it. My best
fan by house and when she was banning house, I
was like kind of going with her through the process,
and best die and as I, oh, just watching what
she was doing. It made me understand, like, you know,
just the whole process of getting a craisal of you know,
we looked at several different properties and when it was
time for her to get an inspection, I just watched
(09:06):
and I was with her while she was doing all
of that. That was my firsthand education to be able
to make it happen. Now, Bianco, how did you get
your confidence? Because you are still relatively young and to
be the number one agent and messagers that's a big deal.
Speaker 2 (09:21):
Fourteenth in the country.
Speaker 1 (09:23):
Yeah, and it is such a boys club too, Like
we said earlier, but where did your confidence come from?
Speaker 2 (09:29):
So?
Speaker 5 (09:29):
I love that you just said it said that because
the first time you do anything, it is the scariest.
So I forced myself a lot of times to do
things for the first time and to constantly be growing
and learning and analyzing like what went right, what went wrong?
Speaker 3 (09:45):
What did I learn from it? What could I do
different next time?
Speaker 5 (09:48):
And I think once you start to take that approach
of constantly learning and pushing yourself into new spaces, that's
how you build confidence because you developed a trust within
yourself that you know that you will learn you know
that you will persevere, you know that you will problem
solve in order to become better. And that changing this
concept and this notion around failure to being this really
(10:10):
scary big thing instead focusing on it as this is
my growing journey education, my education for how it will
become better. And so I think not being afraid of
the first and even when you are pushing yourself to
go through it anyway and recognizing we will all make
mistakes and.
Speaker 2 (10:29):
It's not going to feel good. People are like, Okay, well,
when I feel ready.
Speaker 3 (10:33):
You're never going to feel right. Ever, It'll never feel ready, you.
Speaker 1 (10:35):
Know, especially in this market right now, there's a lot
of people who are like, I'm going to hold off
and wait right. They're talking about interest rates, and I
just want to say, interest rate, I have a three
point twenty five percent rate on my house. That's probably
like that was such a before we had these really
low rates. You know, rates were nowhere near that. Am
I seven percent?
Speaker 3 (10:53):
I realize that's yeah kind of historically historically.
Speaker 4 (11:00):
You're never coming back again. Yeah, people talk about I'm
waiting for rates to drop to go back to three
four percent to get into real estate investing in buy
my first property that may never happen.
Speaker 2 (11:08):
Seven was seven. The average normal rate is about seven.
Speaker 1 (11:13):
Quarter fourteen percent when, which is crazy, by the way.
But what do you say to people who are like, Okay, well,
they're apprehensive because they're like, oh, I heard it's not
the right time, or I was beating this and they said,
the real estate market is doing X, Y and Z
right now, I shouldn't do it.
Speaker 3 (11:28):
Listen to me.
Speaker 5 (11:29):
It's always a good time to invest in real estate.
It is not always a good time to sell real estate.
Speaker 3 (11:36):
But if you could have staying power and wait out markets.
Speaker 5 (11:39):
You will always always make money in real estate if
you have a strategy for what does the exit look like. So,
but I think that becomes like a psychological loop. If
you're waiting, if you're waiting, if you're waiting an excuse,
because the reality is this life is just more expensive
now and not every deal is going to make the
same sense that it made years ago. That's why you
(12:01):
have to be willing to go out and look for
other opportunities and pull people in and structure deals differently
and be more creative. But the wait and see approaches
rates really probably aren't going to come down all that much.
Home prices definitely are not coming down because we don't
have inventory.
Speaker 3 (12:18):
Country across a hire country correct.
Speaker 5 (12:21):
So like at the most basic, basic level, the supply
and demand is not being metter right.
Speaker 1 (12:26):
You don't want to be that person that's like if
I would have bought this ten years ago, because that's
what everybody does. Yeah, and I wish I would have
invested ten years ago. I would have had X, Y,
and Z totally. And you talked about it not always
being the right time to sell and what is the
number one reason that a house doesn't sell. Oh, I
feel like people think a house is worth way more,
(12:47):
you know, because.
Speaker 5 (12:49):
Listen, I feel like pricing is very important. But there's
also a lot of things that you can do about
your space, and I think the most important thing for
homeowners is one surround yourself with the right team, well
anyone in real estate commun around yourself with the right
team and not be emotional about it. Buying a home
is a very emotional process, but selling one. If you're
(13:11):
emotional about it, you're going to be leaving money on
the table, or you're not going to be properly positioned
in order to capture the most of the market. So yes,
pricing is normally it, but from a marketing perspective, from
a positioning perspective, you have to make sure you're working
with the right team to capture the right audience, to
make sure that you are capturing all of the market
share that you should and performing best in that marketplace.
Speaker 2 (13:34):
You touched on something really interesting about knowledge and financial
education and what you were just talking about the economy.
A lot of people don't realize how unnaturally cheap the
economy has been for about the past fifteen years. And yeah,
I think we saw since the election, how many people
don't understand how the economy that they.
Speaker 3 (13:54):
Live in works.
Speaker 2 (13:56):
Talk about especially for women, how that education and understanding
the process, and now you know it might so lender's
not going to be able. We'll take advantage of you
if you know the fair rate going in. Women in
the United States pay hundreds of millions of dollars more
in fees and higher rates because of the pink tas
just because they're women. But he can't take advantage of
(14:17):
you if you know going in or if you have
an advocate like sayam going in for you.
Speaker 5 (14:21):
Listen, education at the root of it is the most
important thing for anything we ever do. And when you
are taking this journey on like it will be scary
at no whatever stage you're at, but no, like it
is your right to educate yourself, to ask questions, to
go and shop and to interview people. It's the biggest
(14:44):
financial commitment and investment you'll ever make in your life.
So with that, speak to as many people as you
can ask the questions. I mean, we are so fortunate
in today's world compared to ten fifteen years ago with chat,
GPT technology and.
Speaker 3 (15:01):
AI, could you could get answers to anything.
Speaker 5 (15:04):
So by you know, taking that on yourself, of like,
I want to be empowered in this decision making. You know,
to speak with lots of lenders, to speak with lots
of attorneys, to speak with lots of real estate brokers.
Speaker 3 (15:16):
You know, ask the questions that you need to before
you make a decision.
Speaker 5 (15:19):
And don't rush a decision if you don't feel comfortable,
if you don't have the answers. Now, sometimes you need
to push yourself over the edge because you know the
fear factor. But ask the questions and make sure that
you feel like you know all of your checkboxes have
been met.
Speaker 2 (15:35):
Sam What are some of the things people learn in
the club.
Speaker 4 (15:38):
Yeah, they learn they learn about financing. That's that's probably
one of the biggest people's biggest things people don't don't
know is how do I finance real estate transactions? We
learn about how to find great deals, learn how to
analyze markets, and which is really important because not every
market acts the same. Right, the Hampton market acts very
differently than the Lower east Side, right, or Midtown or
(15:58):
Brooklyn or the Bronx. So you need to learn the
area you want to invest in and understand how it maneuvers, how,
how does pricing look, how does this how does it
reflect what is there a shortage in that area? Is
there a surfplus in that area? And so we talk
about learn how to analyze properties. We learn how to
go through calculators and actually go through the numbers and
figure out, all right, does this deal make sense? What
(16:18):
is the criteria I need to have a yes on
this deal? Or maybe I should pass on this deal
and move on to the next one. We learn about
different strategies from you know, fixing and flipping to buying
rental property to host selling real estate contracts. If you
if you just want to start building up some cash
and not necessarily are ready to take on full home
ownership or property ownership. So there's a lot of different
(16:39):
things that we talk about, and more more importantly, we're
here at support right. We're here as a community. So
as you go and find your first potential deal, you're
gonna have questions, and so we're a sounding board for
you to answer those questions so you can attack that
deal and and approach it with full confidence.
Speaker 5 (16:55):
And like just the range of different opportunities you just
gave for real estate investing, it's I would imagine anywhere
from as low as five thousand dollars to get involved.
Speaker 3 (17:05):
Up to millions and millions millions to join our club.
I would love to join the club.
Speaker 2 (17:13):
About Bianca join our club?
Speaker 1 (17:16):
I can't wait, Bianka, How has being a relator evolved?
Because it is so different now than I feel like
it was when I bought my first home, So and
I'm excited to.
Speaker 2 (17:26):
Be one to the other our very Angela is a
realtor now.
Speaker 1 (17:30):
And one thing, I was in the office the other
day and they're like, come on, you gotta go, because
I didn't even know Bianca was in the office, and
they would like come to hate, Yes, come say hi
to Bianca. They were like, she is the most powerful
broker here, so let's get into it. But how have
things changed? Because I feel like that relationship now is
more than just like, Okay, let's find you a home
or let's sell your house. It's a lot more than
(17:52):
just that.
Speaker 5 (17:52):
Totally, My business is not at all about the transaction.
It is purely about the relationship and the strategy. And
I would say that's why I definitely stand out in
the marketplace is having the conversation of well, why do
you want to own in real estate right now?
Speaker 3 (18:06):
Is it because your family planning and is changing. Is
it because of a financial goal? Is it because of
the dream of home ownership that you're trying? So what
is that why?
Speaker 5 (18:17):
Understanding the why so then we can build the plan
together for how we execute properly, and then focusing on
the long term relationship that we will have together to
make sure that when there is an exit I could
help them, when there is another opportunity, I could be
there for them.
Speaker 3 (18:32):
And so I think it's much more than just focusing
on a transaction.
Speaker 5 (18:36):
It's looking at being a trusted advisor and being very
very strategic because there are just so many ways that
you could put deals together, and the market's changed so
much post pandemic, where we talk about looking and exploring
other markets, but it's much more prevalent now of not
(18:56):
focusing on just buying in the city or the geographic
and that I was looking at or not necessarily meaning
to own the primary residence, but instead how do I
make my money work for me and helping my clients
and having those conversations these are the numbers. This is
how we put your money to work, and this is
how we're going to make sure that we maintain that
and we will pivot and adjust when needed. Is a
(19:17):
much different conversation than a lot of other brokers are
having with their clients.
Speaker 1 (19:20):
Right, even being able to tell a client, I don't
know if this is right for you? Oh all the
time because that happens too.
Speaker 5 (19:26):
For sure, this was your goal, right this property is
not meeting that goal. Are you sure this is the
right opportunity for you? Or should we keep looking? Should
we put our search on palls for right now? Do
we need to take a minute, should we look elsewhere?
Speaker 4 (19:39):
Absolutely that mooves into learning your market. Yes, So if
you're looking for cash flown properties. Buying properties in the
city is probably not going to be your best bet.
You're looking more for appreciation long term. But if you're
looking for cash flow, maybe addressing other areas like Syracuse
for instance, right it might be a great place for that.
So yes, I think that you guys are hitting the
(20:01):
nail around the head.
Speaker 2 (20:01):
So well, you guys should all be joining our club
and Bianca. Will you come be a guest in one
of our lives on the club to are you kidding?
Speaker 3 (20:10):
Of course, would be a nice treat for our people.
Speaker 2 (20:14):
Absolutely, you guys joined the club.
Speaker 1 (20:16):
We got some trips that we have to take too.
We're planning because you know, we gotta we're globes.
Speaker 4 (20:22):
Global, So we actually have a hotel in the Dominican
Republic and on the north coast and in Porto Plata
the area, and we're looking at other opportunities as well,
so we're we're investing in in where we'd like to go.
So I want to spend more time in dr we're
buying eventually buy one in Puerto Rico and in a
couple other places. So we invite you to enjoy your
vacation time at any one of our spots and.
Speaker 2 (20:45):
We yeah, and we take members absolutely in that location.
Speaker 4 (20:48):
Yeah, we do masterminds at these locations. So we'll send
four or five days together. We'll we'll you know, mastermind.
We'll discuss real estate concepts, learn firsthand, discuss deals, and
and get to know each other personally. So we invite
all our mantees to come a couple times a year.
And so we'll invite you to the next outing.
Speaker 3 (21:05):
I can't wait. Thank you, you will be there.
Speaker 2 (21:07):
And to join the club, you can text the word
Wealth to six state nine two one five seven sixty
six four or go to Wealth Wednesday's real Estate club
dot com. Again, it's Women's History months, So just one
more shout out to women who made history.
Speaker 3 (21:21):
We know that Rosa Parks.
Speaker 2 (21:23):
We know of her because of her refusing to give
up her seat on the bus, But maybe she was
tired because she had just visited her real estate properties,
because Rosa was a real estate owner and investor as well.
And there's just so many women, and so many women
of color throughout history who have done this and it's
more important than ever for women to do it now
because we are the majority heads of households in the
(21:47):
United States and women to have this confidence gap. Then
you know, we said only seven percent think they're capable
of making financial decisions. But guess what, ladies, you control
the majority of the world's wealth. Women control the majority
of the world's wealth. They just nobody told them because
we live longer. But you know, let's put that money
(22:08):
to work in community. So thank you both. Thank you
for celebrating Women's History Month with us.
Speaker 1 (22:12):
Pure and Bianca does have a book coming out that
you can pre order USO.
Speaker 5 (22:16):
I do oh, I would love to title is Mastering Intentions.
It is available on Amazon for pre order. It'll be
out this summer, which I'm excited about. And it's ten
practices to amplify your power and lead with lasting impact,
and so all different practices and teachings that I have
accumulated and put together over you know, my whole life
(22:39):
about mindset and positive thinking and building community. So it
is not just real estate focus. There's a lot of
real estate stories, but it's really a mindset book.
Speaker 1 (22:49):
It's about your life and life today.
Speaker 2 (22:52):
Thank you our first wealth Wednesday's Real Estate Club Book
of the Month, Mastering Intentions pre order on Amazon. Thank you.
Speaker 3 (22:59):
Beyoner than you, thank you so much for having me
on
What's up, Its way up with Angela Yee And it
is Women's History Month and we are celebrating Wealth Wednesdays
with some special guest. Now, of course, my partner Stacy
Tisdale is here.
Speaker 2 (00:10):
Happy Wealth Wednesdays everybody, and we have a really special
Women's History Month and our Wealth Wednesday's real Estate Club
and we are talking about women who are making history
in real estate.
Speaker 1 (00:21):
We have one I love with us and you are
making history. And don't forget say here. I know he's
not a one. He's out the party.
Speaker 3 (00:28):
You guys are used to say.
Speaker 4 (00:31):
Two daughters, a mother and wife live in the house.
I'm the only dude, So.
Speaker 5 (00:35):
Yes, I respect female.
Speaker 1 (00:38):
Bianca Deleacio is here with us. Thank you for joining us.
Speaker 2 (00:41):
First having women making history in real estate. Bianca is
Nest Secrets International, number one agent in New York City
and fourteen in the United States. You are the founder
and CEO of the Master's Division at Nest Secrets, which
is one of the top producing teams in the country.
And you guys might know her as the start I'm
selling the Hamptons on Interview Max.
Speaker 1 (01:03):
She will make anybody sell their house in the Hamptons.
Speaker 2 (01:07):
Absolutely absolutely. So you really are a trailblazer and a
woman making history in real estate, and with all of
this selling that you've been doing in all of your success,
let's talk a minute about some of the differences you
see in women, women and men and their attitudes.
Speaker 3 (01:23):
Oh wow, that's a really good place to start. I think.
Speaker 5 (01:27):
I think with real estate, I think attitude is so
much of it. And I think the biggest difference I see,
and I hate to make generalizations, but unfortunately I see
it a lot. I do a lot of transactions, is
that men just tend to have more financial confidence in
the decision making. And so what I focus so much
on because the root of building confidence is education, So
(01:50):
making sure that I'm always constantly educating my clients on
how the market's shifting, how things are changing, how politics
is impacting real estate and trends, and empowering people to
make those those financial decisions for them.
Speaker 3 (02:03):
I would say that's the biggest difference.
Speaker 2 (02:04):
It is a confidence gap. It's was all investing, even
in stock market investing. I think prudential securities. How to
study women only feel only seven percent of women feel
capable about making financial decisions.
Speaker 3 (02:18):
That is crazy.
Speaker 2 (02:20):
Seven percent worthiness.
Speaker 1 (02:21):
That is a ques you know, if you think about it.
And there's this statistic that we were talking about. Before
the Equal Credit Opportunity Act in nineteen seventy four, banks
refused to grant women mortgages regardless of their income or
credit worthiness unless a husband or male relative co signed
the loan. Lender's continue to discriminate by requiring women to
provide proof that they wouldn't become pregnant, fearing that maternity
(02:41):
leave would impact their income. So imagine that type of
systemic discrimination nineteen seventy four is not okay. So that
did delay home ownership opportunities for women. And I do
think sometimes even people look at women as not being
as knowledgeable the way that we get approached in certain spaces.
Speaker 5 (03:00):
I don't think it's knowledgeable. I think it's purely confidence
and having the strength, the understanding or the voice to
be able to speak about to speak about financial security.
And it's so true, you know, you know, so many
decisions are made because of financial stability and being trapped
in a situation or not being able to progress forward.
(03:21):
And I think a lot of it at the root
of it is just empowering women to feel strong, to
feel confident and to make those decisions and giving them
creative solutions so they could enter the market, so they
could have those small wins and build that portfolio over time.
Speaker 2 (03:37):
Okay, to the only man in the room, talk about
the ways in which wealth Wednesday's Real Estate Club helps
women with this exact issue.
Speaker 4 (03:46):
Yeah. Look, it's a male dominated industry, right, so that
that of itself already gives it puts women in one
step behind when they're when they're approaching anything. So we
show them that anyone can do real estate, whether you're
a woman, a man, where you are, whether you are young, old,
have experience, no experience, you can do real estate. And
you should do real estate because it vastly improves your
(04:08):
chances at financial freedom. It vastly improves your chances at
having a nice nest that when you're ready to retire,
because just by buying real estate, it goes up over time.
So we just try to show everyone that regardless of
what your background is, regardless of your race, regardless of
you of your gender, you should get in the game
because it'll jump start your entire your entire savings.
Speaker 5 (04:27):
And I'd love to jump off of that as well
of just like the conception about getting into real estate
for so many people, they think that's buying their primary residence.
And there's so many ways to invest and to play
in the real estate space. Real estate is huge, and
I think I love that you're building community around that
(04:48):
and showing new homeowners, new buyers, new investors creative solutions
that they don't need to have as much capital as
they think they may need to have. Absolutely, or if
their credit is where they need to be and they
think they can't get a mortgage, now there's an alternative
for structuring really cool ways to put together deals.
Speaker 4 (05:06):
Absolutely, they're seller financing where you can make the sell
of your lender. And like going off what you're saying,
just because you live in an area that might be
a high priced area like New York City, for instance,
or Miami, Florida, South Florida I live, doesn't mean that's
where you need to invest, right. I tell people all
the time, if you don't have the cash or the
money or the desire to buy a high priced property
(05:28):
in New York City or Miami, Florida.
Speaker 1 (05:30):
Or the Hamptons or the Hampton.
Speaker 4 (05:34):
You can invest in other places. When you learn these
strategies When you learn how to analyze a rental property,
when you learn how to analyze and investment property, you
can do it anywhere. The entire world becomes your playground, right,
And that's really that's really what I try to teach people.
Speaker 2 (05:45):
Leanka, what do you think of this notion that we're
trying to do here of doing it in community?
Speaker 5 (05:50):
Oh?
Speaker 2 (05:50):
I love it.
Speaker 5 (05:51):
I love it because I think we're so much stronger
we come together. And like that part that you just said.
I think another big fear factor around real estate is
knowing all of the can opponents of how to analyze
a deal.
Speaker 3 (06:02):
Versus there could be someone who's really good with marketing.
There could be really someone who's really good with.
Speaker 5 (06:06):
Understanding the numbers, or putting the property on the market
and securing the right tenant, or making relationships so you
have great relationship with your tenant.
Speaker 3 (06:16):
Like, there's all different skill sets.
Speaker 5 (06:18):
And when you start to bring people together of like
owning your space and your domain of I feel really
confident in the numbers and I feel really good on
this specific location. Now, just think how much stronger of
teams that you could build and how like the confidence
starts to amplify because you're bringing the right people around you.
So I think, you know, whenever I think of entering
a new space, I always think you have to start small,
(06:40):
like dream big, but start small.
Speaker 3 (06:42):
And I think by.
Speaker 5 (06:42):
Building this community and pulling people in around you to
bounce off of your.
Speaker 3 (06:47):
Skill set will give people a lot more confidence to
enter the market.
Speaker 2 (06:51):
And it's Women's History Month. Yeah, what's interesting is historically
after the UH like even the start before the Civil War,
but after the Civil War, black women banded together and
started creating these secret societies where they would just pool
money and they would direct it towards land ownership. And
(07:12):
people don't know there are these secret societies of black
women going all the way back to I think we
have somebody from sixteen seventy, a black woman was the
first homeowner. Twenty five year old Zapora Potter Atkins purchased
a plot of land in sixteen seventy in Boston. And
all these women had these secret societies and everybody knows,
like Madame C. J. Walker from her hair care products,
(07:35):
being one of the first black millionaires. She was a
real estate investor. She had twenty five thousand agents out
there selling her hair care products and she made them
all take some of all those women take money and
buy real estate. Wow, and by land. So we have
this history yep, yeah, yeah. Then wanted you talk a
little bit about for women of color. All women of
(07:57):
color are now heads of households so much in the
United States. How important is it for them to get
on this bandwagon.
Speaker 5 (08:04):
I think it's so important because I think also when
you see someone else achieve and do and accomplish and
then talk about it, people get excited and they want
to get involved, and you pull more people in. And
so I think women banning together and creating and paving
that way and then not just doing it in silent
but talking about it, sharing about it being a resource
(08:26):
for other people is so so so important to continue.
You know, this point in time we will look back.
People will look back on this moment in history as
the learning opportunity and the experience and continue to set
the foundation and lay the building blocks for what does
the next generation of women investing in owning real estate
look like?
Speaker 1 (08:46):
You know, That's how I got into it. My best
fan by house and when she was banning house, I
was like kind of going with her through the process,
and best die and as I, oh, just watching what
she was doing. It made me understand, like, you know,
just the whole process of getting a craisal of you know,
we looked at several different properties and when it was
time for her to get an inspection, I just watched
(09:06):
and I was with her while she was doing all
of that. That was my firsthand education to be able
to make it happen. Now, Bianco, how did you get
your confidence? Because you are still relatively young and to
be the number one agent and messagers that's a big deal.
Speaker 2 (09:21):
Fourteenth in the country.
Speaker 1 (09:23):
Yeah, and it is such a boys club too, Like
we said earlier, but where did your confidence come from?
Speaker 2 (09:29):
So?
Speaker 5 (09:29):
I love that you just said it said that because
the first time you do anything, it is the scariest.
So I forced myself a lot of times to do
things for the first time and to constantly be growing
and learning and analyzing like what went right, what went wrong?
Speaker 3 (09:45):
What did I learn from it? What could I do
different next time?
Speaker 5 (09:48):
And I think once you start to take that approach
of constantly learning and pushing yourself into new spaces, that's
how you build confidence because you developed a trust within
yourself that you know that you will learn you know
that you will persevere, you know that you will problem
solve in order to become better. And that changing this
concept and this notion around failure to being this really
(10:10):
scary big thing instead focusing on it as this is
my growing journey education, my education for how it will
become better. And so I think not being afraid of
the first and even when you are pushing yourself to
go through it anyway and recognizing we will all make
mistakes and.
Speaker 2 (10:29):
It's not going to feel good. People are like, Okay, well,
when I feel ready.
Speaker 3 (10:33):
You're never going to feel right. Ever, It'll never feel ready, you.
Speaker 1 (10:35):
Know, especially in this market right now, there's a lot
of people who are like, I'm going to hold off
and wait right. They're talking about interest rates, and I
just want to say, interest rate, I have a three
point twenty five percent rate on my house. That's probably
like that was such a before we had these really
low rates. You know, rates were nowhere near that. Am
I seven percent?
Speaker 3 (10:53):
I realize that's yeah kind of historically historically.
Speaker 4 (11:00):
You're never coming back again. Yeah, people talk about I'm
waiting for rates to drop to go back to three
four percent to get into real estate investing in buy
my first property that may never happen.
Speaker 2 (11:08):
Seven was seven. The average normal rate is about seven.
Speaker 1 (11:13):
Quarter fourteen percent when, which is crazy, by the way.
But what do you say to people who are like, Okay, well,
they're apprehensive because they're like, oh, I heard it's not
the right time, or I was beating this and they said,
the real estate market is doing X, Y and Z
right now, I shouldn't do it.
Speaker 3 (11:28):
Listen to me.
Speaker 5 (11:29):
It's always a good time to invest in real estate.
It is not always a good time to sell real estate.
Speaker 3 (11:36):
But if you could have staying power and wait out markets.
Speaker 5 (11:39):
You will always always make money in real estate if
you have a strategy for what does the exit look like. So,
but I think that becomes like a psychological loop. If
you're waiting, if you're waiting, if you're waiting an excuse,
because the reality is this life is just more expensive
now and not every deal is going to make the
same sense that it made years ago. That's why you
(12:01):
have to be willing to go out and look for
other opportunities and pull people in and structure deals differently
and be more creative. But the wait and see approaches
rates really probably aren't going to come down all that much.
Home prices definitely are not coming down because we don't
have inventory.
Speaker 3 (12:18):
Country across a hire country correct.
Speaker 5 (12:21):
So like at the most basic, basic level, the supply
and demand is not being metter right.
Speaker 1 (12:26):
You don't want to be that person that's like if
I would have bought this ten years ago, because that's
what everybody does. Yeah, and I wish I would have
invested ten years ago. I would have had X, Y,
and Z totally. And you talked about it not always
being the right time to sell and what is the
number one reason that a house doesn't sell. Oh, I
feel like people think a house is worth way more,
(12:47):
you know, because.
Speaker 5 (12:49):
Listen, I feel like pricing is very important. But there's
also a lot of things that you can do about
your space, and I think the most important thing for
homeowners is one surround yourself with the right team, well
anyone in real estate commun around yourself with the right
team and not be emotional about it. Buying a home
is a very emotional process, but selling one. If you're
(13:11):
emotional about it, you're going to be leaving money on
the table, or you're not going to be properly positioned
in order to capture the most of the market. So yes,
pricing is normally it, but from a marketing perspective, from
a positioning perspective, you have to make sure you're working
with the right team to capture the right audience, to
make sure that you are capturing all of the market
share that you should and performing best in that marketplace.
Speaker 2 (13:34):
You touched on something really interesting about knowledge and financial
education and what you were just talking about the economy.
A lot of people don't realize how unnaturally cheap the
economy has been for about the past fifteen years. And yeah,
I think we saw since the election, how many people
don't understand how the economy that they.
Speaker 3 (13:54):
Live in works.
Speaker 2 (13:56):
Talk about especially for women, how that education and understanding
the process, and now you know it might so lender's
not going to be able. We'll take advantage of you
if you know the fair rate going in. Women in
the United States pay hundreds of millions of dollars more
in fees and higher rates because of the pink tas
just because they're women. But he can't take advantage of
(14:17):
you if you know going in or if you have
an advocate like sayam going in for you.
Speaker 5 (14:21):
Listen, education at the root of it is the most
important thing for anything we ever do. And when you
are taking this journey on like it will be scary
at no whatever stage you're at, but no, like it
is your right to educate yourself, to ask questions, to
go and shop and to interview people. It's the biggest
(14:44):
financial commitment and investment you'll ever make in your life.
So with that, speak to as many people as you
can ask the questions. I mean, we are so fortunate
in today's world compared to ten fifteen years ago with chat,
GPT technology and.
Speaker 3 (15:01):
AI, could you could get answers to anything.
Speaker 5 (15:04):
So by you know, taking that on yourself, of like,
I want to be empowered in this decision making. You know,
to speak with lots of lenders, to speak with lots
of attorneys, to speak with lots of real estate brokers.
Speaker 3 (15:16):
You know, ask the questions that you need to before
you make a decision.
Speaker 5 (15:19):
And don't rush a decision if you don't feel comfortable,
if you don't have the answers. Now, sometimes you need
to push yourself over the edge because you know the
fear factor. But ask the questions and make sure that
you feel like you know all of your checkboxes have
been met.
Speaker 2 (15:35):
Sam What are some of the things people learn in
the club.
Speaker 4 (15:38):
Yeah, they learn they learn about financing. That's that's probably
one of the biggest people's biggest things people don't don't
know is how do I finance real estate transactions? We
learn about how to find great deals, learn how to
analyze markets, and which is really important because not every
market acts the same. Right, the Hampton market acts very
differently than the Lower east Side, right, or Midtown or
(15:58):
Brooklyn or the Bronx. So you need to learn the
area you want to invest in and understand how it maneuvers, how,
how does pricing look, how does this how does it
reflect what is there a shortage in that area? Is
there a surfplus in that area? And so we talk
about learn how to analyze properties. We learn how to
go through calculators and actually go through the numbers and
figure out, all right, does this deal make sense? What
(16:18):
is the criteria I need to have a yes on
this deal? Or maybe I should pass on this deal
and move on to the next one. We learn about
different strategies from you know, fixing and flipping to buying
rental property to host selling real estate contracts. If you
if you just want to start building up some cash
and not necessarily are ready to take on full home
ownership or property ownership. So there's a lot of different
(16:39):
things that we talk about, and more more importantly, we're
here at support right. We're here as a community. So
as you go and find your first potential deal, you're
gonna have questions, and so we're a sounding board for
you to answer those questions so you can attack that
deal and and approach it with full confidence.
Speaker 5 (16:55):
And like just the range of different opportunities you just
gave for real estate investing, it's I would imagine anywhere
from as low as five thousand dollars to get involved.
Speaker 3 (17:05):
Up to millions and millions millions to join our club.
I would love to join the club.
Speaker 2 (17:13):
About Bianca join our club?
Speaker 1 (17:16):
I can't wait, Bianka, How has being a relator evolved?
Because it is so different now than I feel like
it was when I bought my first home, So and
I'm excited to.
Speaker 2 (17:26):
Be one to the other our very Angela is a
realtor now.
Speaker 1 (17:30):
And one thing, I was in the office the other
day and they're like, come on, you gotta go, because
I didn't even know Bianca was in the office, and
they would like come to hate, Yes, come say hi
to Bianca. They were like, she is the most powerful
broker here, so let's get into it. But how have
things changed? Because I feel like that relationship now is
more than just like, Okay, let's find you a home
or let's sell your house. It's a lot more than
(17:52):
just that.
Speaker 5 (17:52):
Totally, My business is not at all about the transaction.
It is purely about the relationship and the strategy. And
I would say that's why I definitely stand out in
the marketplace is having the conversation of well, why do
you want to own in real estate right now?
Speaker 3 (18:06):
Is it because your family planning and is changing. Is
it because of a financial goal? Is it because of
the dream of home ownership that you're trying? So what
is that why?
Speaker 5 (18:17):
Understanding the why so then we can build the plan
together for how we execute properly, and then focusing on
the long term relationship that we will have together to
make sure that when there is an exit I could
help them, when there is another opportunity, I could be
there for them.
Speaker 3 (18:32):
And so I think it's much more than just focusing
on a transaction.
Speaker 5 (18:36):
It's looking at being a trusted advisor and being very
very strategic because there are just so many ways that
you could put deals together, and the market's changed so
much post pandemic, where we talk about looking and exploring
other markets, but it's much more prevalent now of not
(18:56):
focusing on just buying in the city or the geographic
and that I was looking at or not necessarily meaning
to own the primary residence, but instead how do I
make my money work for me and helping my clients
and having those conversations these are the numbers. This is
how we put your money to work, and this is
how we're going to make sure that we maintain that
and we will pivot and adjust when needed. Is a
(19:17):
much different conversation than a lot of other brokers are
having with their clients.
Speaker 1 (19:20):
Right, even being able to tell a client, I don't
know if this is right for you? Oh all the
time because that happens too.
Speaker 5 (19:26):
For sure, this was your goal, right this property is
not meeting that goal. Are you sure this is the
right opportunity for you? Or should we keep looking? Should
we put our search on palls for right now? Do
we need to take a minute, should we look elsewhere?
Speaker 4 (19:39):
Absolutely that mooves into learning your market. Yes, So if
you're looking for cash flown properties. Buying properties in the
city is probably not going to be your best bet.
You're looking more for appreciation long term. But if you're
looking for cash flow, maybe addressing other areas like Syracuse
for instance, right it might be a great place for that.
So yes, I think that you guys are hitting the
(20:01):
nail around the head.
Speaker 2 (20:01):
So well, you guys should all be joining our club
and Bianca. Will you come be a guest in one
of our lives on the club to are you kidding?
Speaker 3 (20:10):
Of course, would be a nice treat for our people.
Speaker 2 (20:14):
Absolutely, you guys joined the club.
Speaker 1 (20:16):
We got some trips that we have to take too.
We're planning because you know, we gotta we're globes.
Speaker 4 (20:22):
Global, So we actually have a hotel in the Dominican
Republic and on the north coast and in Porto Plata
the area, and we're looking at other opportunities as well,
so we're we're investing in in where we'd like to go.
So I want to spend more time in dr we're
buying eventually buy one in Puerto Rico and in a
couple other places. So we invite you to enjoy your
vacation time at any one of our spots and.
Speaker 2 (20:45):
We yeah, and we take members absolutely in that location.
Speaker 4 (20:48):
Yeah, we do masterminds at these locations. So we'll send
four or five days together. We'll we'll you know, mastermind.
We'll discuss real estate concepts, learn firsthand, discuss deals, and
and get to know each other personally. So we invite
all our mantees to come a couple times a year.
And so we'll invite you to the next outing.
Speaker 3 (21:05):
I can't wait. Thank you, you will be there.
Speaker 2 (21:07):
And to join the club, you can text the word
Wealth to six state nine two one five seven sixty
six four or go to Wealth Wednesday's real Estate club
dot com. Again, it's Women's History months, So just one
more shout out to women who made history.
Speaker 3 (21:21):
We know that Rosa Parks.
Speaker 2 (21:23):
We know of her because of her refusing to give
up her seat on the bus, But maybe she was
tired because she had just visited her real estate properties,
because Rosa was a real estate owner and investor as well.
And there's just so many women, and so many women
of color throughout history who have done this and it's
more important than ever for women to do it now
because we are the majority heads of households in the
(21:47):
United States and women to have this confidence gap. Then
you know, we said only seven percent think they're capable
of making financial decisions. But guess what, ladies, you control
the majority of the world's wealth. Women control the majority
of the world's wealth. They just nobody told them because
we live longer. But you know, let's put that money
(22:08):
to work in community. So thank you both. Thank you
for celebrating Women's History Month with us.
Speaker 1 (22:12):
Pure and Bianca does have a book coming out that
you can pre order USO.
Speaker 5 (22:16):
I do oh, I would love to title is Mastering Intentions.
It is available on Amazon for pre order. It'll be
out this summer, which I'm excited about. And it's ten
practices to amplify your power and lead with lasting impact,
and so all different practices and teachings that I have
accumulated and put together over you know, my whole life
(22:39):
about mindset and positive thinking and building community. So it
is not just real estate focus. There's a lot of
real estate stories, but it's really a mindset book.
Speaker 1 (22:49):
It's about your life and life today.
Speaker 2 (22:52):
Thank you our first wealth Wednesday's Real Estate Club Book
of the Month, Mastering Intentions pre order on Amazon. Thank you.
Speaker 3 (22:59):
Beyoner than you, thank you so much for having me
on
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