May 23, 2025 • 31 mins
In this episode of INVESTOR CLUB ROUNDUP SHOW host Joey Romero sits down with REIA leaders Lisa Hoegler (LA South REIA), Larry French (CV REIA), and Dan Redig (SDCIA) for a dynamic roundtable discussion. They share how their clubs have adapted in a changing market—from flipping to finance, lunch meetups to online events, and a growing focus on ADUs. Tune in for valuable insights on local real estate trends, the power of investor communities, and how education is evolving across California’s REIA landscape.
For more information on this month’s featured clubs and speakers, please see below:
LA South Real Estate Investors Association
San Diego Creative Investors Association
Coachella Valley Real Estate Investors Association
In this episode:
- Joey Romero introduces REIA leaders Lisa Hoegler (LA South REIA), Larry French (CVREIA), and Dan Redig (SDCIA)
- Lisa Hoegler shares LA South REIA’s shift from flipping to finance and economics
- Larry French discusses CVREIA’s monthly meetups and local market focus
- Dan Redig highlights SDCIA’s hands-on approach and ADU trends in San Diego
- REIA leaders reflect on club growth and adapting to market challenges
- Local real estate investing opportunities unique to LA, Central Valley, and San Diego
- The role of community support and education in investor success
- Importance of dynamic speakers and staying connected through evolving formats
The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669. For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.
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Narrator (00:01):
Welcome to The Norris Group real estate podcast, a
show committed to bringing youinsights from thought leaders
shaping the real estateindustry. In each episode, we'll
dive into conversations withindustry experts and local
insiders, all aimed at helpingyou thrive in an ever-changing
real estate market. continuingthe legacy that Bruce Norris
(00:24):
created, sharing valuableknowledge, and empowering you on
your real estate journey.
Whether you're a seasoned pro ora newcomer, this is your go-to
source for insider tips, markettrends and success strategies.
Here's your host, Craig Evans.
Joey Romero (00:44):
Welcome everybody to The Norris Group Real Estate
Podcast. Today, we're doing ourthird edition of the Investor
Club Roundtable Roundup,whatever we want to call it. We
have three awesome guests withus today. We have Larry French
from the CVREIA. We have Danfrom SDCIA, and we have Lisa
(01:07):
from LA South REIA. So I'm goingto give everybody the
opportunity to introducethemselves, talk about your club
a little bit, and then we'll getinto the fun and interesting
questions that I have for youguys today. So we'll go ladies
first today, Lisa, tell us aboutwho you are and your club.
Lisa Hoegler (01:24):
Thank you so much for the opportunity, Joey. Yes,
I'm Lisa Haigler. I've been aninvestor for 23 years now, I
guess since 2003 I started outmy investing career in the
Charlotte, North Carolina area,and I did a little bit of
investing in Atlanta until thecrash in 2008 and then after
(01:44):
that, I moved back to my homestate of California, and I live
in the South Bay in the Torranceareas where I founded LA South
REIA. And part of why I wantedto start LA South REIA back then
was because I had been veryinvolved in REIA's on the East
Coast when I was or in thesoutheast when I was investing
out there, and I loved thecamaraderie that the groups
(02:06):
brought and how much educationthere was. And obviously back in
the day, there wasn't as manyplaces to get great education as
there are now. So REIA's werejust a foundational part of
that. So I started LA South REIAin 2013 and our club had been
steadily growing during COVID.
We actually did kind of take astep back in membership a little
bit, but people have beenreturning since that time, and
(02:28):
we try to focus on initially,when I started the club, we were
working a lot with newinvestors, and we were, you
know, kind of working withflippers and things like that.
But over the years, we've kindof progressed into more of a
real estate, real estatefinance, economics type of group
instead. And so we have a lot ofbuy and hold investors in our
(02:50):
market.
Joey Romero (02:53):
I'll get into that a little bit more, because I
have some very specificquestions about that. But no,
I'm glad you're talking aboutthat. Larry, can you tell us
about your club?
Larry French (03:02):
Yes. Hey, hi, everybody. So together with my
wife, Janet. My name is LawrenceFrench, and I go by Larry. We
took over the Coachella ValleyReal Estate Investors club about
20 years or 15 years ago, 2010.
And the person running it wasn'tenjoying it, and it was
something I wanted to do andstart helping other investors.
(03:24):
So we spent our first 11 yearsdoing a traditional kind of
format with a speaker comes inin the evening. We meet at the
Embassy Suites in Palm Desert.
We specialize in the CoachellaValley and a California and for
the last five years, sinceCOVID, we have transitioned to
(03:44):
just a lunch meeting. So once amonth, a whole gang of us get
together at the Daily grill inPalm Desert, and we talk about
local real estate, very heavilyfocused on our local areas. What
we like to keep focused on.
Joey Romero (03:57):
Awesome. Dan, you're heading one of the oldest
in Southern California. Can youtell us about SDCIA?
Dan Redig (04:06):
Oh, yeah, absolutely.
Thanks for having me. Joey.
SDCIA became known to me in 2012and I attended my first meeting
in 2013 where I learned that thegroup has been around since
1976. so for those of you whoknow Bill Tan, he's been around
a minute in the San Diego and LAarea. He was president for 24
years just before I got to jointhe board. And it's been quite a
(04:31):
ride, and Bill still providessome ideas and mentorship along
the way. So that's awesome.
Thanks, Bill. So we've got apretty large club and very
active lot of classes, and wereally focus on action, how to
get people out there, and Ithink that's the best use of a
REIA. So we, we don't reallylike the idea of a class where
people said, Llisten, we likethe idea of an action group
where people come in, they learna skill, they go practice the
(04:52):
skill, and then they come backto the rest of the group and
say, well, they learned whatworked, what didn't. It. And so
we try to keep on that rollingthrough as our theme is taking
action.
Joey Romero (05:04):
I like it. So one of the things I like to do is, I
like to open with an icebreaker.
All right, so, I want to askeverybody that. So we'll start.
We'll go in reverse this time.
Dan, what was the first car youever owned?
Dan Redig (05:18):
First car I owned was a 1988 Honda Civic.
Joey Romero (05:21):
Oh, nice.
Dan Redig (05:23):
I drove that thing like I stole it through 320,000
miles. It wouldn't die if thebody rusted off as a Minnesota
car, and it wouldn't die.
Joey Romero (05:33):
Larry, what'd you drive?
Larry French (05:34):
1973 Datsun 510.
Dan Redig (05:37):
That's cool.
Larry French (05:38):
Yeah, I wish you had it now. It's a cute little
cafe looking racer car.
Joey Romero (05:43):
Yeah, yeah. People are not going to know what
Datsun that turned into Nissan,but.
Larry French (05:48):
Yeah.
Joey Romero (05:50):
Lisa, what did you drive?
Lisa Hoegler (05:51):
I have no idea what year this thing was, but it
was old, and it was a ToyotaCorolla, and it was blue. I
remember that. And in my earlyyears of driving, I actually had
quite a few wrecks. I think inthe first couple years, I went
through six cars. So, I thinkthat blue Toyota Corolla was the
first one.
Larry French (06:11):
Yes, that was before you were living in the
snowy areas too, right Lisa?
Lisa Hoegler (06:17):
Right here in Orange County.
Joey Romero (06:19):
So, when I was getting ready to get a car. My
dad, my cousin, was a mechanic,and he would fix all these cars
in East LA and he had the cul desac where just park all kinds of
cars. And my dad always, youknow, growing up, it was like,
'Well, you know, I'll just haveBen give you a car, there you
go. And he had this 64Convertible Firebird. And I was
(06:40):
like...
Dan Redig (06:40):
Wow.
Larry French (06:40):
Oh wow.
Joey Romero (06:41):
That's what I want.
And when it came time for me todrive, he was like, No, I can't
give that to him. And so I waslike, All right, whatever. I
just want a car. So I ended upwith the lime green Opel, if you
guys even know what that is.
Dan Redig (06:55):
Whoa, yeah, you're winning that one, Joey.
Joey Romero (06:58):
But it was so much fun because I didn't care about
it. So, like all my friends,drove it, like we called it
Slimer, which, like all thisgroup would know what Slimer?
Dan Redig (07:09):
Yes, yes.
Joey Romero (07:11):
Hey, can I borrow Slimer? Yeah, sure. Just put
some gas in it, you know. So itwas
Lisa Hoegler (07:16):
Those things were tanks, Joey I remember
correctly, like they could, theycould withstand a beating,
right?
Joey Romero (07:24):
Yes, yes. Well, all right.
Dan Redig (07:27):
Right, when crumple zones didn't exist, right?
Joey Romero (07:30):
Real, real metal.
Yeah. So let's get into, let'sget into what the club does. So,
yeah, let's, let's start withyou when you first got involved
with, I can't ask you, you know,what it was like in the early
days of the club? Because, youknow...
Dan Redig (07:45):
I wasn't born when the club was founded.
Joey Romero (07:47):
Yes, so when you first started, you know, going
to the club, what was theenvironment like? What kept you
coming back?
Dan Redig (07:55):
Oh, you know. So when I started going, we were still
kind of feeling the effectspretty strong of 2008 downturn.
And so very, very well attendedpeople trying to learn to
understand the market and kindof with that, the sense of not
knowing and what's next, right?
So it was a hub for people tocome together, and not just
(08:15):
education, but also support, itturned out. And I don't think
anybody went there with thatintention, but they ended up
getting a lot more out of it.
Yeah.
Joey Romero (08:27):
And Bruce was already doing the Christmas
party every year, already.
Dan Redig (08:33):
Yes. He was yes.
Joey Romero (08:34):
So, Lisa, you started from scratch. So what
were like the early days? Youknow, was it tough to get it
going. Or like, were people justlike, "we got to get REIA down
here."
Lisa Hoegler (08:44):
You know, surprisingly. So LA South REIA
is a chapter of National REIA.
And at the time, National REIAwas looking for more exposure in
the California area. And socoming from very big clubs on
the East Coast, REIAs werehumongous out there, that it
wasn't uncommon to have a couple1000 people in your REIA. And I
(09:05):
was, you know, thought I'd becoming to an even bigger market,
and there would be just the clubwould be huge. And when I
started, and when I started theclub in the South Bay, I
realized that there were so manyother options for investors to
learn, to learn online, thingslike that, that I realized,
(09:25):
okay, it was just going to be asmaller, more local club. And so
we just kind of steadily keptgrowing and growing. And a
variety of, you know, differentinvestors would come, but I
would say the majority of allthe investors that have ever
come through LA South REIA, andit's, you know, been 1000s at
this point. They're all local tothe South Bay. We really it is a
(09:46):
very micro, local type club, andpeople who have ties or roots or
live right in the South Bayarea. So I have seen, I would
say, especially in the lastcouple of years. Like I said,
it's different. It's totallydifferent membership, but we
might talk about that later.
Joey Romero (10:07):
Yeah, so Larry, how was it?
Larry French (10:09):
Yeah.
Joey Romero (10:09):
When you first took over?
Larry French (10:11):
So, yeah, the person I took over from the club
had never done deal. I reallyknew much about it. She founded
it with the idea of, hey, if Ifind, if I found this, found,
you know, create this club. I'llstart learning. I'll get, I'll
surround myself with goodpeople. Great, a great idea. I
respected her for that. And Iwent to her club, and it was
horrible, it was at a sushirestaurant in the bar, so none
(10:33):
of us could hear also, thedrinks were good. And she,
that's when she said, I'm donewith this. And I was like, I
wasn't sure if it was somethingshoes I wanted to step into, and
I did. And I was encouraged by acouple really smart folks that I
know, and one of them, the guy,said to me, he's like, Well, you
(10:54):
need to run the club in yourarea. And I said, 'Well, why
would I want to bother doingthat? Sounds like a lot of
work.' He said, 'Well, if youdon't do it, I'm going to do
it.' And this guy was alreadyrunning a club in San Diego, and
he had one in northern Cal wherehe worked or where he lived, and
he was really going to do it.
And so that got me motivated alittle bit. And then another pal
had mentioned to me, you know,if he, nobody's going to crown
(11:17):
you of like an expert in yourarea, let's say the South Bay or
San Diego, or somebody reallyknows your area. But if you run
the club, it kind of helps. Andso I thought that made a lot of
sense to be able to person whohelps bring people together,
learn about the deals, and helpspread real estate education for
an area people, it gave meinstant credibility in a farm
(11:43):
area that I was trying todevelop. So for me, personally,
it helped a lot. And then we hadwonderful, wonderful speakers
that came in and helped. Wehelped, we have tons of people.
Joey Romero (11:54):
So you start becoming that connector, right?
Larry French (11:56):
Yeah, exactly.
Joey Romero (11:58):
And that's kind of what I'm learning from, like all
of the club owners and thepresidents, is that you become
the go to when somebody needssomething, you always know who
they need.
Larry French (12:09):
Yeah.
Lisa Hoegler (12:10):
You are influencers before influencers
were cool.
Joey Romero (12:14):
Yes. Now put that together. Let's get our tiktok
going. Come on. So Larry, I'llstay with you. What is the
current demographic like? Whatkind of investors you're coming
to the you know, to the CVREIA?
Larry French (12:26):
So we literally had our lunch an hour and a half
ago. So thank you guys for allbeing flexible with my time
today, too. I know we probablyswitched it around. So today
it's a lunch, right? So we'resmall now, which is nice. There
was about 16 of us there today,and I'd say for them were new,
never offended, and the other 12or so had been once or twice. Or
(12:50):
some of them are there all thetime. You know, you'll get
regulars that really do getvalue from showing up all the
time. You'll also get some folksthat'll just come by because
they've got a project or theirquestions, or they happen to be
in town. So regarding ourdemographic, Joey, we're a, the
Coachella Valley has a lot ofseasonal residents. Also, you
know, we're tourist destination.
A lot of second homes here. Alot of people. The local people
(13:11):
come in, local res, localtourists will call them, will
come in from San Diego, SanFrancisco, LA, and then we'll
have out of area residents,like, you know, Canadians in
Colorado and Washington. So theclub size changes a little bit
right now. We're near the end ofthe season, and so we're we'll
shrink down a little bit as someof those second home buyer or
(13:32):
users leave, because it'sgetting hot. Like we hit 104
today.
Joey Romero (13:37):
Whoo! It was, it was 95 today when I walked, I
still walk. So, Lisa, I knowyou're running a little bit
different format nowadays. Sohow do you track that? You know?
Is it all zoom, or is it hybridlike, how do you know who's
coming to your clubs
Lisa Hoegler (13:56):
Through the end of last year, we actually were
still doing in person meetingsand the size of the club,
similar to Larry, we get between20 and 30 now. That's down from,
you know, a high which was maybeseven or eight years Well, maybe
not even that much. Maybe fiveor six years ago, 100-150 would
come each month. So definitely,different demographic, more of
(14:19):
the people who have beeninvesting a while, and we're, I
decided this year to go onlineinstead. And I said, let me give
that a try, because I've beenhearing from other club leaders
around the country that that wasworking out well for them, and
it was also encouraging newpeople to come. And so I have
seen that. I've seen an uptickand new folks coming and joining
(14:42):
us online. It feels to me thatthe lower the barrier to entry,
if somebody can just join, youknow, anonymously, online and
come sit in on one of yourmeetings, that seems to be what
people are looking for thesedays. I could be wrong. We're
testing it out right now to seehow that's working, and so far,
(15:03):
it's been working well, andwe've had, I think, even better,
participation once the meetingis over, we sit around and chat
a little bit, kind of in an openforum, and that has actually
worked out better than even myin person meetings did from a
networking perspective. So I'mliking what I'm seeing there,
but I'm still trying to decideif I'm going to add on some in
(15:29):
person meetings as well. I'mstill playing around with that,
and kind of would like to seethe online number get to a
certain place before I go backto in person.
Joey Romero (15:40):
So Dan, how are you guys running the club? And
what's the demographicaldemographic look like now?
Dan Redig (15:44):
Well, so how we're running the club? In addition to
what I said earlier about ourclasses, we've got five or six
classes. I'm trying to add threemore by the end of the year,
various topics, we have a mainmonthly meeting, and I think
networking, aside from theeducation and support component,
is the most important thing Ican provide. And so we start our
networking at 4 (16:04):
30 and our main speaker doesn't go our program
doesn't start until seven. Sowith that, we have a beautiful
facility that we go to right onthe water, in San Diego, and we
have dinner and drinks includedin the ticket, so that people
can come straight from work orwhatever they were doing, and
just get in there and get busy.
It's, ipretty affordable. So ifyou're a member and you register
(16:25):
ahead of time, it's 20 bucks. SoI think that's pretty awesome
deal to include food and drinks.
So that runs to, we have ourmain program, and we talk about,
we have a series of things we gothrough with our sponsors to
celebrate them and show how theycan provide value to our
members. And then we have havesand wants, where people talk
about things they have or thingsthey want, how they're trying to
(16:45):
put deals together in front ofthe audience, 32nd pitch fest,
basically. So our demographicthese days, you know,
periodically I'm starting themeeting, I like to say, hey,
raise your hand if you're doingthis or doing that. And it's
been changing a little bit. ADUsare starting to pop up.
Joey Romero (17:02):
I was gonna say, speaking of that, my next
question was gonna be, what'sunique about, you know,
investing in your area. I'mgonna ask everybody else. But so
in San Diego is that, would yousay that that's the most unique
thing that...
Dan Redig (17:12):
It's getting. Yeah, it's getting there. There's what
really makes San Diego sounique, and why ADUs are being
driven is because we'reencroached on by the desert, you
know.
Joey Romero (17:26):
And landlocked.
Dan Redig (17:27):
Yeah, super landlocked. Cleveland National
Forest on one side Mexico thePacific Ocean, which I never
want to tangle with on the wrongway. And Camp Pendleton to the
north. And there's this littlesliver that squeaks out towards
the north, northeast, throughEscondido and Temecula. And so
there is no more land you got togo, either fill in the spots you
got or go up. And so that'swe're seeing a real dramatic
(17:50):
push. In fact, I just changedover all my investments to ADU
builds. If that tells youanything, you know, hopefully
I'm not wrong.
Joey Romero (17:58):
So Larry, what's what's unique about investing in
the Coachella.
Larry French (18:04):
So we're really unique out here. Remember, I
just was mentioning how we're avacation destination. So our
total population, there's 11Cities out here. Well, nine
cities and two unincorporatedareas. If you add the population
of those cities together, we'rea little under 600,000 people
total. So we're small. I mean,add Long Beach and maybe one
(18:24):
other city, and you've got600,000 people right there.
Yeah, there you go. So it we'rerelatively small. We you get to
know people here, which I like,that's been interesting, you
know. And sometimes you get toknow them and they go away, and
that's a good thing. Orsometimes they keep showing up,
and that's a good thing. We'rerelatively close to large
(18:47):
markets, let's say like SanDiego and Lisa your market. So
we will have out of area folkscome in to work our markets. And
there are a lot of talents,people that do come in and work
our markets, but we also seesome people that don't
understand the dynamics. We havea couple unique dynamics. One
is, of course, the tourist buyeror the tourist client. The other
(19:11):
is, we have a large collectionof mid century modern homes that
have extra value attached tothem because their original mid
century modern homes from the50s and 60s. And sometimes those
homes might be scattered rightaround next door to homes built
in the 1970s in the similarsquare footage. And so we have
seen folks get hurt because theydon't understand some of the
local dynamics. So we like totalk about that, make sure
(19:33):
people understand some of thosetypes of concepts. But that's
been really unique. I mean,that's definitely something
unique about us. You know, Joey,really quick. You asked about
demographics? I was thinkingabout it today. We had two
wholesalers. This is at about 15people, 16 people. We had two
wholesalers show up. We had oneall time guy, investor, who's
not really doing anything. He'svery well off, but he loves
(19:54):
showing up, and if the deal wasright, he'd jump into it. We had
two mortgage brokers. We had onereal estate agent. Now, the
mortgage broker's and this agentare investors too, but they are
making a living doing that. Andthen about the other eight of us
are some form of remodeler orflipper. And then the final two,
I'd say, if you add it all up,haven't done anything and are
(20:16):
excited to just learn. So theyhaven't really chosen a path. So
that's that was a kind of asplit of who is there today.
Joey Romero (20:21):
So it's a good range?
Larry French (20:22):
It's a nice variety of folks. It's great to
get different folks, someprofessionals, some new it's
always cool.
Joey Romero (20:30):
So Lisa, what's unique about the South Bay?
Lisa Hoegler (20:33):
I would say similar to Dan. So the South Bay
Area, if you're not familiarwith it, I would, easiest way to
kind of describe it would besort of south of LAX. That's the
way I would categorize that allthe way down to maybe Long Beach
area and everything in between.
So we are definitely landlocked,like Dan mentioned, and there's
just not a lot of room for newnew build opportunities. That
(20:57):
said, right, there's a lot ofinterest in ADUs, and there's a
lot of interest in tear downsand building higher density
units, especially in the RedondoBeach area and the beach cities
area. We have a lot of 10,000square foot lots there, so you
can tear those down and possiblybuild three units on that. So
most of the new build work orthe rehab work that's done in
(21:23):
our area, I would say, isgenerally for sale. And a lot of
the people who are investing forto buy and hold, for example,
they tend to be in the lowercost areas, maybe in the Long
Beach area, maybe in our inGardena, or out of the area
entirely. So we don't get a lotof new builds and flip in our
(21:45):
area. Specifically, there issome obviously, because we have
old housing stock. But we do seepeople, especially if they're
interested in those rentalunits, they're kind of going to
lower price point areas.
Joey Romero (22:02):
Have you been? Are you close enough to have seen
the impact of like SoFi and thenew clipper arena, the areas
around their development that'scome, that's coming and come?
Lisa Hoegler (22:14):
Yeah, that's actually right in what I would
call the South Bay area as well.
So those areas are prettyunique, and they were pretty, in
pretty bad shape when all thatrenovation started. I would
argue that from a real estateinvestment perspective, although
people have been, have beenmarketing all their properties,
oh, we're, you know, a half milefrom the stadium, or we're a
(22:35):
quarter mile from the stadium,we really haven't seen enough
development there that'strickled into the residential
and the housing yet. There is,there is obviously some, but
it's not the parts that weredeveloped and the parts that are
still being developed. They'vedefinitely turned over, but it
hasn't necessarily raised theirvalues very much, because what's
(22:56):
bordering that whole stadiumarea is still, you know, 800
square foot. In most cases, 100.
Joey Romero (23:06):
You're not getting a million dollar Compton house?
Lisa Hoegler (23:08):
No, and they're not, they still don't attract
the highest quality tenant. Sothere's still some pretty rough
areas around there. I mean, whoknows where it'll be in 15
years, but it's not there yet.
Joey Romero (23:21):
So let me shift a little bit. Larry, I want to ask
you this first now, you guys arejust a luncheon, but do you
still have a speaker? And if youdo still have speakers, who's
been the most dynamic speakerthe last 12 months that you've
had?
Larry French (23:34):
So I don't have speakers. So I can't ask you
that, that last question, but Ican tell you a few great ones
we've had over the last 15years. The format of the club
changed at COVID. Now, Lisa, youwere saying, kind of, you had
some changes a little bit, oranything, of some changes to
COVID too. So I didn't want togo online when, you know when
(23:55):
things were shut down, and runanother, yet another club
online. We all seem to jumponline at the time. So we just
stopped. And when therestrictions were lifted, we I
turned it into a lunch. So I runthis as a nonprofit. I've never
had anybody have a product tosell, or if they do, I don't, I
ask them not to talk about it,and I won't take any splits. You
(24:16):
know, some of the people thatrun clubs as a business, they do
the whole 50/50 thing, and wenever do that. There's no fee to
go to our club. You just have tobuy your well, you don't even
have to buy yourself lunch. Weask that you buy yourself lunch.
So it's really the what theformat it's in right now, Joey
is set up for something that forthe type of work I want to do,
(24:40):
because I run it. So I'mcomfortable spending the four or
$500 meetup for meetup.com outof my own pocket. And other than
that, that's just a loss.
There's no money coming in.
There's nothing. So that's kindof what it is. I just, I guess I
just host a lunch for people andsay to show up and talk. And the
format right now is, I'llusually introduce everybody a
little bit like you do, Dan,with the haves and wants I will
(25:01):
do ask everybody do a quick 30seconds, and then they never
hang the 30 seconds. But that'sfine. And 30 seconds get to
know...
Dan Redig (25:09):
That goes for you too, huh?
Larry French (25:10):
Yeah, apparently, yes. After that, then I ge,t I
Joey Romero (25:10):
Yeah, that's what's really cool about all the clubs.
yap for about 15 to 20 minutesand try to hold the attention of
the whole table. And it'sdifficult at a lunch because you
have waiters. Remember, if youguys ever host lunch, if you're
planning on lunches and youexpect to hold attention, it's
difficult and send the foodsbeing placed. So usually the
(25:30):
speaker is me trying to engagepeople in a current topic for
the first 15 or 20 minutes. Andthen I even say this at the
beginning, hey, we're gonnawe're gonna chat all together
for the first 10, 15, minutes,20 minutes, and then you're all
going to talk to seat, you'regoing to just chat the people
next to you. If the person nextto you is boring, get your butt
(25:51):
up and go sit to somebody nextto that you heard their haves
and wants anything interesting.
So this is, and I also telleverybody at the beginning of
the meeting, the quality of theexperience you're going to have
here today is almost 100%dependent on your participation
level. If you show up and sitdown here for lunch and just
wait for people to tell you andtalk, you know, talk to you and
(26:12):
teach you things, you'reprobably gonna leave a little
bored. But if you show up andyou participate and you you help
the person next to you, and youask for their help, might find
this. This this is valuable toyou, so I encourage you to be
look at it that way. So that'swhat we do regarding great
speakers. Um, sorry for takingso much time, but I'll do this
(26:33):
really fast. We invited PeterAldana. He was, I don't know if
he currently is, the Riversidecounty tax assessor, like the
one that gets voted in by all UStax taxpayers, and he was super
interesting. There's so muchmore to that role than we ever
thought. And another reallyinteresting folk person we had
in was a gentleman named RobertFay. And Robert Fay, he's since
(26:54):
passed away. He helped createand build hundreds and hundreds
of homes that are out here onbuilt on Indian land. So through
the Palm Springs area, we have acheckerboard full of private sea
land, and next door might be asquare mile of Indian land that
are owned by the local tribes.
And they look the same becausethere could be a housing track
(27:16):
on the Indian land and a housingtrack on the sea land. And it
was really interesting to hearhow all of that started. Who
owns the leases, how tonegotiate with a tribe if you
have to extend leases, and itwas just a part of real estate.
I've never really heard or beenlearned from anybody else.
You never know what nuggets orwhat you know what takeaways
(27:37):
you're gonna get go home withthose those nights. I remember
going with Bruce and Aaron toyour club, and, you know, going
upstairs, and...
Larry French (27:46):
Yeah.
Joey Romero (27:46):
You know. And it's always really interesting to see
what you can come on with. Lisa,who's been, who would you say
has been the most dynamicspeaker that you've had in the
last 12 months?
Lisa Hoegler (27:59):
Similar, we don't have a lot of selling speakers.
I might have one a year anddepending on the topic, but what
I've found for myself is thatthere aren't as many speakers on
the circuit anymore, and I findthat because of the folks that
are coming to LA South REIA,they're really interested in
what's going on locally and thelocal market. And like I said,
(28:22):
we talked about macroeconomicsand things like that. So I don't
have as many, what I would callprofessional speakers anymore. I
usually will invite people fromthe local community who are in
real estate, whether it'swholesalers, whether it's high
performing realtors that are...
Joey Romero (28:39):
Somebody who's killing it out there, right?
Lisa Hoegler (28:41):
What's that?
Joey Romero (28:42):
Somebody was killing it out there.
Lisa Hoegler (28:43):
Killing it out there, because they're feeling
what's going on in the market aswell. But one of my favorites, I
actually have two favorites thatI would always default to,
especially for people who arelearning, I love Anthony Chara.
Anthony Chara teachesmultifamily investing, and he
is, in my opinion, he's one ofthe best instructors on that
(29:06):
topic. He does just an amazingjob with students walking you
from knowing nothing all the waythrough buying your first
multiplex. So he's always beenone of my favorites. And I
actually did have him, or hadhim come talk to the group.
Within the last year, he was myonly, you know, outside speaker
like that. And then another onethat I always like. I don't know
(29:26):
that he speaks as much anymore,but maybe his company still
does. Is George Antone, with thefinance company. And he, George
is a, what I would call arecovering real estate investor,
and so he likes to help realestate investors also build
their wealth at the same timethey're doing real estate. And
(29:47):
he has a lot of really amazingprograms that help people retire
sooner with the income thatthey're generating from real
estate. So I find that that'slike a really nice compatible
and add on to what we do andwhat we teach people at the
clubs.
Joey Romero (30:02):
Nice. Dan, who's been the most dynamic?
Dan Redig (30:06):
Well, I got two, I think the first one, the one I
remember the best, is lastNovember. We had Matt and Craig
from Stay Classy San Diego. Theyrun an ADU management company,
and they provided so muchinformation, were so engaging,
and know the community so well,because this is where they do
all their investing, the meetingdragged on. We had to get out of
(30:28):
the space, you know, we wereasking people to leave. It was,
it was a fantastic meeting, andthey absolutely crushed it. The
other one was, we have Patrick,who's our kind of local realtor
who pushes everybody as hard aspossible to invest in the San
Diego area, and he's got it allfigured out, and he gets super
excited and jumps around andtells everybody's stories about
(30:49):
it. This area is this, and thisis that, and really gets them
pumped up. So it's, it's prettyawesome.
Joey Romero (30:53):
That's cool. All right, everyone that's gonna do
it for part one of our investorclub roundup show, our third
edition, be sure to tune in nextweek for part two. Thanks
Narrator (31:02):
For more information on hard money loans, trust deed
investing, and upcoming eventswith The Norris group. Check out
thenorrisgroup.com. For moreinformation on passive investing
through the DBL Capital RealEstate Investment Fund, please
visit dblapital.com.
Joey Romero (31:21):
The Norris Group originates and services loans in
California and Florida underCalifornia DRE license 01219911.
Florida mortgage lender license1577 and NMLS license 1623669.
For more information on hardmoney lending go to
thenorrisgroup.com and click thehard money tab.
Welcome to The Norris Group real estate podcast, a
show committed to bringing youinsights from thought leaders
shaping the real estateindustry. In each episode, we'll
dive into conversations withindustry experts and local
insiders, all aimed at helpingyou thrive in an ever-changing
real estate market. continuingthe legacy that Bruce Norris
(00:24):
created, sharing valuableknowledge, and empowering you on
your real estate journey.
Whether you're a seasoned pro ora newcomer, this is your go-to
source for insider tips, markettrends and success strategies.
Here's your host, Craig Evans.
Joey Romero (00:44):
Welcome everybody to The Norris Group Real Estate
Podcast. Today, we're doing ourthird edition of the Investor
Club Roundtable Roundup,whatever we want to call it. We
have three awesome guests withus today. We have Larry French
from the CVREIA. We have Danfrom SDCIA, and we have Lisa
(01:07):
from LA South REIA. So I'm goingto give everybody the
opportunity to introducethemselves, talk about your club
a little bit, and then we'll getinto the fun and interesting
questions that I have for youguys today. So we'll go ladies
first today, Lisa, tell us aboutwho you are and your club.
Lisa Hoegler (01:24):
Thank you so much for the opportunity, Joey. Yes,
I'm Lisa Haigler. I've been aninvestor for 23 years now, I
guess since 2003 I started outmy investing career in the
Charlotte, North Carolina area,and I did a little bit of
investing in Atlanta until thecrash in 2008 and then after
(01:44):
that, I moved back to my homestate of California, and I live
in the South Bay in the Torranceareas where I founded LA South
REIA. And part of why I wantedto start LA South REIA back then
was because I had been veryinvolved in REIA's on the East
Coast when I was or in thesoutheast when I was investing
out there, and I loved thecamaraderie that the groups
(02:06):
brought and how much educationthere was. And obviously back in
the day, there wasn't as manyplaces to get great education as
there are now. So REIA's werejust a foundational part of
that. So I started LA South REIAin 2013 and our club had been
steadily growing during COVID.
We actually did kind of take astep back in membership a little
bit, but people have beenreturning since that time, and
(02:28):
we try to focus on initially,when I started the club, we were
working a lot with newinvestors, and we were, you
know, kind of working withflippers and things like that.
But over the years, we've kindof progressed into more of a
real estate, real estatefinance, economics type of group
instead. And so we have a lot ofbuy and hold investors in our
(02:50):
market.
Joey Romero (02:53):
I'll get into that a little bit more, because I
have some very specificquestions about that. But no,
I'm glad you're talking aboutthat. Larry, can you tell us
about your club?
Larry French (03:02):
Yes. Hey, hi, everybody. So together with my
wife, Janet. My name is LawrenceFrench, and I go by Larry. We
took over the Coachella ValleyReal Estate Investors club about
20 years or 15 years ago, 2010.
And the person running it wasn'tenjoying it, and it was
something I wanted to do andstart helping other investors.
(03:24):
So we spent our first 11 yearsdoing a traditional kind of
format with a speaker comes inin the evening. We meet at the
Embassy Suites in Palm Desert.
We specialize in the CoachellaValley and a California and for
the last five years, sinceCOVID, we have transitioned to
(03:44):
just a lunch meeting. So once amonth, a whole gang of us get
together at the Daily grill inPalm Desert, and we talk about
local real estate, very heavilyfocused on our local areas. What
we like to keep focused on.
Joey Romero (03:57):
Awesome. Dan, you're heading one of the oldest
in Southern California. Can youtell us about SDCIA?
Dan Redig (04:06):
Oh, yeah, absolutely.
Thanks for having me. Joey.
SDCIA became known to me in 2012and I attended my first meeting
in 2013 where I learned that thegroup has been around since
1976. so for those of you whoknow Bill Tan, he's been around
a minute in the San Diego and LAarea. He was president for 24
years just before I got to jointhe board. And it's been quite a
(04:31):
ride, and Bill still providessome ideas and mentorship along
the way. So that's awesome.
Thanks, Bill. So we've got apretty large club and very
active lot of classes, and wereally focus on action, how to
get people out there, and Ithink that's the best use of a
REIA. So we, we don't reallylike the idea of a class where
people said, Llisten, we likethe idea of an action group
where people come in, they learna skill, they go practice the
(04:52):
skill, and then they come backto the rest of the group and
say, well, they learned whatworked, what didn't. It. And so
we try to keep on that rollingthrough as our theme is taking
action.
Joey Romero (05:04):
I like it. So one of the things I like to do is, I
like to open with an icebreaker.
All right, so, I want to askeverybody that. So we'll start.
We'll go in reverse this time.
Dan, what was the first car youever owned?
Dan Redig (05:18):
First car I owned was a 1988 Honda Civic.
Joey Romero (05:21):
Oh, nice.
Dan Redig (05:23):
I drove that thing like I stole it through 320,000
miles. It wouldn't die if thebody rusted off as a Minnesota
car, and it wouldn't die.
Joey Romero (05:33):
Larry, what'd you drive?
Larry French (05:34):
1973 Datsun 510.
Dan Redig (05:37):
That's cool.
Larry French (05:38):
Yeah, I wish you had it now. It's a cute little
cafe looking racer car.
Joey Romero (05:43):
Yeah, yeah. People are not going to know what
Datsun that turned into Nissan,but.
Larry French (05:48):
Yeah.
Joey Romero (05:50):
Lisa, what did you drive?
Lisa Hoegler (05:51):
I have no idea what year this thing was, but it
was old, and it was a ToyotaCorolla, and it was blue. I
remember that. And in my earlyyears of driving, I actually had
quite a few wrecks. I think inthe first couple years, I went
through six cars. So, I thinkthat blue Toyota Corolla was the
first one.
Larry French (06:11):
Yes, that was before you were living in the
snowy areas too, right Lisa?
Lisa Hoegler (06:17):
Right here in Orange County.
Joey Romero (06:19):
So, when I was getting ready to get a car. My
dad, my cousin, was a mechanic,and he would fix all these cars
in East LA and he had the cul desac where just park all kinds of
cars. And my dad always, youknow, growing up, it was like,
'Well, you know, I'll just haveBen give you a car, there you
go. And he had this 64Convertible Firebird. And I was
(06:40):
like...
Dan Redig (06:40):
Wow.
Larry French (06:40):
Oh wow.
Joey Romero (06:41):
That's what I want.
And when it came time for me todrive, he was like, No, I can't
give that to him. And so I waslike, All right, whatever. I
just want a car. So I ended upwith the lime green Opel, if you
guys even know what that is.
Dan Redig (06:55):
Whoa, yeah, you're winning that one, Joey.
Joey Romero (06:58):
But it was so much fun because I didn't care about
it. So, like all my friends,drove it, like we called it
Slimer, which, like all thisgroup would know what Slimer?
Dan Redig (07:09):
Yes, yes.
Joey Romero (07:11):
Hey, can I borrow Slimer? Yeah, sure. Just put
some gas in it, you know. So itwas
Lisa Hoegler (07:16):
Those things were tanks, Joey I remember
correctly, like they could, theycould withstand a beating,
right?
Joey Romero (07:24):
Yes, yes. Well, all right.
Dan Redig (07:27):
Right, when crumple zones didn't exist, right?
Joey Romero (07:30):
Real, real metal.
Yeah. So let's get into, let'sget into what the club does. So,
yeah, let's, let's start withyou when you first got involved
with, I can't ask you, you know,what it was like in the early
days of the club? Because, youknow...
Dan Redig (07:45):
I wasn't born when the club was founded.
Joey Romero (07:47):
Yes, so when you first started, you know, going
to the club, what was theenvironment like? What kept you
coming back?
Dan Redig (07:55):
Oh, you know. So when I started going, we were still
kind of feeling the effectspretty strong of 2008 downturn.
And so very, very well attendedpeople trying to learn to
understand the market and kindof with that, the sense of not
knowing and what's next, right?
So it was a hub for people tocome together, and not just
(08:15):
education, but also support, itturned out. And I don't think
anybody went there with thatintention, but they ended up
getting a lot more out of it.
Yeah.
Joey Romero (08:27):
And Bruce was already doing the Christmas
party every year, already.
Dan Redig (08:33):
Yes. He was yes.
Joey Romero (08:34):
So, Lisa, you started from scratch. So what
were like the early days? Youknow, was it tough to get it
going. Or like, were people justlike, "we got to get REIA down
here."
Lisa Hoegler (08:44):
You know, surprisingly. So LA South REIA
is a chapter of National REIA.
And at the time, National REIAwas looking for more exposure in
the California area. And socoming from very big clubs on
the East Coast, REIAs werehumongous out there, that it
wasn't uncommon to have a couple1000 people in your REIA. And I
(09:05):
was, you know, thought I'd becoming to an even bigger market,
and there would be just the clubwould be huge. And when I
started, and when I started theclub in the South Bay, I
realized that there were so manyother options for investors to
learn, to learn online, thingslike that, that I realized,
(09:25):
okay, it was just going to be asmaller, more local club. And so
we just kind of steadily keptgrowing and growing. And a
variety of, you know, differentinvestors would come, but I
would say the majority of allthe investors that have ever
come through LA South REIA, andit's, you know, been 1000s at
this point. They're all local tothe South Bay. We really it is a
(09:46):
very micro, local type club, andpeople who have ties or roots or
live right in the South Bayarea. So I have seen, I would
say, especially in the lastcouple of years. Like I said,
it's different. It's totallydifferent membership, but we
might talk about that later.
Joey Romero (10:07):
Yeah, so Larry, how was it?
Larry French (10:09):
Yeah.
Joey Romero (10:09):
When you first took over?
Larry French (10:11):
So, yeah, the person I took over from the club
had never done deal. I reallyknew much about it. She founded
it with the idea of, hey, if Ifind, if I found this, found,
you know, create this club. I'llstart learning. I'll get, I'll
surround myself with goodpeople. Great, a great idea. I
respected her for that. And Iwent to her club, and it was
horrible, it was at a sushirestaurant in the bar, so none
(10:33):
of us could hear also, thedrinks were good. And she,
that's when she said, I'm donewith this. And I was like, I
wasn't sure if it was somethingshoes I wanted to step into, and
I did. And I was encouraged by acouple really smart folks that I
know, and one of them, the guy,said to me, he's like, Well, you
(10:54):
need to run the club in yourarea. And I said, 'Well, why
would I want to bother doingthat? Sounds like a lot of
work.' He said, 'Well, if youdon't do it, I'm going to do
it.' And this guy was alreadyrunning a club in San Diego, and
he had one in northern Cal wherehe worked or where he lived, and
he was really going to do it.
And so that got me motivated alittle bit. And then another pal
had mentioned to me, you know,if he, nobody's going to crown
(11:17):
you of like an expert in yourarea, let's say the South Bay or
San Diego, or somebody reallyknows your area. But if you run
the club, it kind of helps. Andso I thought that made a lot of
sense to be able to person whohelps bring people together,
learn about the deals, and helpspread real estate education for
an area people, it gave meinstant credibility in a farm
(11:43):
area that I was trying todevelop. So for me, personally,
it helped a lot. And then we hadwonderful, wonderful speakers
that came in and helped. Wehelped, we have tons of people.
Joey Romero (11:54):
So you start becoming that connector, right?
Larry French (11:56):
Yeah, exactly.
Joey Romero (11:58):
And that's kind of what I'm learning from, like all
of the club owners and thepresidents, is that you become
the go to when somebody needssomething, you always know who
they need.
Larry French (12:09):
Yeah.
Lisa Hoegler (12:10):
You are influencers before influencers
were cool.
Joey Romero (12:14):
Yes. Now put that together. Let's get our tiktok
going. Come on. So Larry, I'llstay with you. What is the
current demographic like? Whatkind of investors you're coming
to the you know, to the CVREIA?
Larry French (12:26):
So we literally had our lunch an hour and a half
ago. So thank you guys for allbeing flexible with my time
today, too. I know we probablyswitched it around. So today
it's a lunch, right? So we'resmall now, which is nice. There
was about 16 of us there today,and I'd say for them were new,
never offended, and the other 12or so had been once or twice. Or
(12:50):
some of them are there all thetime. You know, you'll get
regulars that really do getvalue from showing up all the
time. You'll also get some folksthat'll just come by because
they've got a project or theirquestions, or they happen to be
in town. So regarding ourdemographic, Joey, we're a, the
Coachella Valley has a lot ofseasonal residents. Also, you
know, we're tourist destination.
A lot of second homes here. Alot of people. The local people
(13:11):
come in, local res, localtourists will call them, will
come in from San Diego, SanFrancisco, LA, and then we'll
have out of area residents,like, you know, Canadians in
Colorado and Washington. So theclub size changes a little bit
right now. We're near the end ofthe season, and so we're we'll
shrink down a little bit as someof those second home buyer or
(13:32):
users leave, because it'sgetting hot. Like we hit 104
today.
Joey Romero (13:37):
Whoo! It was, it was 95 today when I walked, I
still walk. So, Lisa, I knowyou're running a little bit
different format nowadays. Sohow do you track that? You know?
Is it all zoom, or is it hybridlike, how do you know who's
coming to your clubs
Lisa Hoegler (13:56):
Through the end of last year, we actually were
still doing in person meetingsand the size of the club,
similar to Larry, we get between20 and 30 now. That's down from,
you know, a high which was maybeseven or eight years Well, maybe
not even that much. Maybe fiveor six years ago, 100-150 would
come each month. So definitely,different demographic, more of
(14:19):
the people who have beeninvesting a while, and we're, I
decided this year to go onlineinstead. And I said, let me give
that a try, because I've beenhearing from other club leaders
around the country that that wasworking out well for them, and
it was also encouraging newpeople to come. And so I have
seen that. I've seen an uptickand new folks coming and joining
(14:42):
us online. It feels to me thatthe lower the barrier to entry,
if somebody can just join, youknow, anonymously, online and
come sit in on one of yourmeetings, that seems to be what
people are looking for thesedays. I could be wrong. We're
testing it out right now to seehow that's working, and so far,
(15:03):
it's been working well, andwe've had, I think, even better,
participation once the meetingis over, we sit around and chat
a little bit, kind of in an openforum, and that has actually
worked out better than even myin person meetings did from a
networking perspective. So I'mliking what I'm seeing there,
but I'm still trying to decideif I'm going to add on some in
(15:29):
person meetings as well. I'mstill playing around with that,
and kind of would like to seethe online number get to a
certain place before I go backto in person.
Joey Romero (15:40):
So Dan, how are you guys running the club? And
what's the demographicaldemographic look like now?
Dan Redig (15:44):
Well, so how we're running the club? In addition to
what I said earlier about ourclasses, we've got five or six
classes. I'm trying to add threemore by the end of the year,
various topics, we have a mainmonthly meeting, and I think
networking, aside from theeducation and support component,
is the most important thing Ican provide. And so we start our
networking at 4 (16:04):
30 and our main speaker doesn't go our program
doesn't start until seven. Sowith that, we have a beautiful
facility that we go to right onthe water, in San Diego, and we
have dinner and drinks includedin the ticket, so that people
can come straight from work orwhatever they were doing, and
just get in there and get busy.
It's, ipretty affordable. So ifyou're a member and you register
(16:25):
ahead of time, it's 20 bucks. SoI think that's pretty awesome
deal to include food and drinks.
So that runs to, we have ourmain program, and we talk about,
we have a series of things we gothrough with our sponsors to
celebrate them and show how theycan provide value to our
members. And then we have havesand wants, where people talk
about things they have or thingsthey want, how they're trying to
(16:45):
put deals together in front ofthe audience, 32nd pitch fest,
basically. So our demographicthese days, you know,
periodically I'm starting themeeting, I like to say, hey,
raise your hand if you're doingthis or doing that. And it's
been changing a little bit. ADUsare starting to pop up.
Joey Romero (17:02):
I was gonna say, speaking of that, my next
question was gonna be, what'sunique about, you know,
investing in your area. I'mgonna ask everybody else. But so
in San Diego is that, would yousay that that's the most unique
thing that...
Dan Redig (17:12):
It's getting. Yeah, it's getting there. There's what
really makes San Diego sounique, and why ADUs are being
driven is because we'reencroached on by the desert, you
know.
Joey Romero (17:26):
And landlocked.
Dan Redig (17:27):
Yeah, super landlocked. Cleveland National
Forest on one side Mexico thePacific Ocean, which I never
want to tangle with on the wrongway. And Camp Pendleton to the
north. And there's this littlesliver that squeaks out towards
the north, northeast, throughEscondido and Temecula. And so
there is no more land you got togo, either fill in the spots you
got or go up. And so that'swe're seeing a real dramatic
(17:50):
push. In fact, I just changedover all my investments to ADU
builds. If that tells youanything, you know, hopefully
I'm not wrong.
Joey Romero (17:58):
So Larry, what's what's unique about investing in
the Coachella.
Larry French (18:04):
So we're really unique out here. Remember, I
just was mentioning how we're avacation destination. So our
total population, there's 11Cities out here. Well, nine
cities and two unincorporatedareas. If you add the population
of those cities together, we'rea little under 600,000 people
total. So we're small. I mean,add Long Beach and maybe one
(18:24):
other city, and you've got600,000 people right there.
Yeah, there you go. So it we'rerelatively small. We you get to
know people here, which I like,that's been interesting, you
know. And sometimes you get toknow them and they go away, and
that's a good thing. Orsometimes they keep showing up,
and that's a good thing. We'rerelatively close to large
(18:47):
markets, let's say like SanDiego and Lisa your market. So
we will have out of area folkscome in to work our markets. And
there are a lot of talents,people that do come in and work
our markets, but we also seesome people that don't
understand the dynamics. We havea couple unique dynamics. One
is, of course, the tourist buyeror the tourist client. The other
(19:11):
is, we have a large collectionof mid century modern homes that
have extra value attached tothem because their original mid
century modern homes from the50s and 60s. And sometimes those
homes might be scattered rightaround next door to homes built
in the 1970s in the similarsquare footage. And so we have
seen folks get hurt because theydon't understand some of the
local dynamics. So we like totalk about that, make sure
(19:33):
people understand some of thosetypes of concepts. But that's
been really unique. I mean,that's definitely something
unique about us. You know, Joey,really quick. You asked about
demographics? I was thinkingabout it today. We had two
wholesalers. This is at about 15people, 16 people. We had two
wholesalers show up. We had oneall time guy, investor, who's
not really doing anything. He'svery well off, but he loves
(19:54):
showing up, and if the deal wasright, he'd jump into it. We had
two mortgage brokers. We had onereal estate agent. Now, the
mortgage broker's and this agentare investors too, but they are
making a living doing that. Andthen about the other eight of us
are some form of remodeler orflipper. And then the final two,
I'd say, if you add it all up,haven't done anything and are
(20:16):
excited to just learn. So theyhaven't really chosen a path. So
that's that was a kind of asplit of who is there today.
Joey Romero (20:21):
So it's a good range?
Larry French (20:22):
It's a nice variety of folks. It's great to
get different folks, someprofessionals, some new it's
always cool.
Joey Romero (20:30):
So Lisa, what's unique about the South Bay?
Lisa Hoegler (20:33):
I would say similar to Dan. So the South Bay
Area, if you're not familiarwith it, I would, easiest way to
kind of describe it would besort of south of LAX. That's the
way I would categorize that allthe way down to maybe Long Beach
area and everything in between.
So we are definitely landlocked,like Dan mentioned, and there's
just not a lot of room for newnew build opportunities. That
(20:57):
said, right, there's a lot ofinterest in ADUs, and there's a
lot of interest in tear downsand building higher density
units, especially in the RedondoBeach area and the beach cities
area. We have a lot of 10,000square foot lots there, so you
can tear those down and possiblybuild three units on that. So
most of the new build work orthe rehab work that's done in
(21:23):
our area, I would say, isgenerally for sale. And a lot of
the people who are investing forto buy and hold, for example,
they tend to be in the lowercost areas, maybe in the Long
Beach area, maybe in our inGardena, or out of the area
entirely. So we don't get a lotof new builds and flip in our
(21:45):
area. Specifically, there issome obviously, because we have
old housing stock. But we do seepeople, especially if they're
interested in those rentalunits, they're kind of going to
lower price point areas.
Joey Romero (22:02):
Have you been? Are you close enough to have seen
the impact of like SoFi and thenew clipper arena, the areas
around their development that'scome, that's coming and come?
Lisa Hoegler (22:14):
Yeah, that's actually right in what I would
call the South Bay area as well.
So those areas are prettyunique, and they were pretty, in
pretty bad shape when all thatrenovation started. I would
argue that from a real estateinvestment perspective, although
people have been, have beenmarketing all their properties,
oh, we're, you know, a half milefrom the stadium, or we're a
(22:35):
quarter mile from the stadium,we really haven't seen enough
development there that'strickled into the residential
and the housing yet. There is,there is obviously some, but
it's not the parts that weredeveloped and the parts that are
still being developed. They'vedefinitely turned over, but it
hasn't necessarily raised theirvalues very much, because what's
(22:56):
bordering that whole stadiumarea is still, you know, 800
square foot. In most cases, 100.
Joey Romero (23:06):
You're not getting a million dollar Compton house?
Lisa Hoegler (23:08):
No, and they're not, they still don't attract
the highest quality tenant. Sothere's still some pretty rough
areas around there. I mean, whoknows where it'll be in 15
years, but it's not there yet.
Joey Romero (23:21):
So let me shift a little bit. Larry, I want to ask
you this first now, you guys arejust a luncheon, but do you
still have a speaker? And if youdo still have speakers, who's
been the most dynamic speakerthe last 12 months that you've
had?
Larry French (23:34):
So I don't have speakers. So I can't ask you
that, that last question, but Ican tell you a few great ones
we've had over the last 15years. The format of the club
changed at COVID. Now, Lisa, youwere saying, kind of, you had
some changes a little bit, oranything, of some changes to
COVID too. So I didn't want togo online when, you know when
(23:55):
things were shut down, and runanother, yet another club
online. We all seem to jumponline at the time. So we just
stopped. And when therestrictions were lifted, we I
turned it into a lunch. So I runthis as a nonprofit. I've never
had anybody have a product tosell, or if they do, I don't, I
ask them not to talk about it,and I won't take any splits. You
(24:16):
know, some of the people thatrun clubs as a business, they do
the whole 50/50 thing, and wenever do that. There's no fee to
go to our club. You just have tobuy your well, you don't even
have to buy yourself lunch. Weask that you buy yourself lunch.
So it's really the what theformat it's in right now, Joey
is set up for something that forthe type of work I want to do,
(24:40):
because I run it. So I'mcomfortable spending the four or
$500 meetup for meetup.com outof my own pocket. And other than
that, that's just a loss.
There's no money coming in.
There's nothing. So that's kindof what it is. I just, I guess I
just host a lunch for people andsay to show up and talk. And the
format right now is, I'llusually introduce everybody a
little bit like you do, Dan,with the haves and wants I will
(25:01):
do ask everybody do a quick 30seconds, and then they never
hang the 30 seconds. But that'sfine. And 30 seconds get to
know...
Dan Redig (25:09):
That goes for you too, huh?
Larry French (25:10):
Yeah, apparently, yes. After that, then I ge,t I
Joey Romero (25:10):
Yeah, that's what's really cool about all the clubs.
yap for about 15 to 20 minutesand try to hold the attention of
the whole table. And it'sdifficult at a lunch because you
have waiters. Remember, if youguys ever host lunch, if you're
planning on lunches and youexpect to hold attention, it's
difficult and send the foodsbeing placed. So usually the
(25:30):
speaker is me trying to engagepeople in a current topic for
the first 15 or 20 minutes. Andthen I even say this at the
beginning, hey, we're gonnawe're gonna chat all together
for the first 10, 15, minutes,20 minutes, and then you're all
going to talk to seat, you'regoing to just chat the people
next to you. If the person nextto you is boring, get your butt
(25:51):
up and go sit to somebody nextto that you heard their haves
and wants anything interesting.
So this is, and I also telleverybody at the beginning of
the meeting, the quality of theexperience you're going to have
here today is almost 100%dependent on your participation
level. If you show up and sitdown here for lunch and just
wait for people to tell you andtalk, you know, talk to you and
(26:12):
teach you things, you'reprobably gonna leave a little
bored. But if you show up andyou participate and you you help
the person next to you, and youask for their help, might find
this. This this is valuable toyou, so I encourage you to be
look at it that way. So that'swhat we do regarding great
speakers. Um, sorry for takingso much time, but I'll do this
(26:33):
really fast. We invited PeterAldana. He was, I don't know if
he currently is, the Riversidecounty tax assessor, like the
one that gets voted in by all UStax taxpayers, and he was super
interesting. There's so muchmore to that role than we ever
thought. And another reallyinteresting folk person we had
in was a gentleman named RobertFay. And Robert Fay, he's since
(26:54):
passed away. He helped createand build hundreds and hundreds
of homes that are out here onbuilt on Indian land. So through
the Palm Springs area, we have acheckerboard full of private sea
land, and next door might be asquare mile of Indian land that
are owned by the local tribes.
And they look the same becausethere could be a housing track
(27:16):
on the Indian land and a housingtrack on the sea land. And it
was really interesting to hearhow all of that started. Who
owns the leases, how tonegotiate with a tribe if you
have to extend leases, and itwas just a part of real estate.
I've never really heard or beenlearned from anybody else.
You never know what nuggets orwhat you know what takeaways
(27:37):
you're gonna get go home withthose those nights. I remember
going with Bruce and Aaron toyour club, and, you know, going
upstairs, and...
Larry French (27:46):
Yeah.
Joey Romero (27:46):
You know. And it's always really interesting to see
what you can come on with. Lisa,who's been, who would you say
has been the most dynamicspeaker that you've had in the
last 12 months?
Lisa Hoegler (27:59):
Similar, we don't have a lot of selling speakers.
I might have one a year anddepending on the topic, but what
I've found for myself is thatthere aren't as many speakers on
the circuit anymore, and I findthat because of the folks that
are coming to LA South REIA,they're really interested in
what's going on locally and thelocal market. And like I said,
(28:22):
we talked about macroeconomicsand things like that. So I don't
have as many, what I would callprofessional speakers anymore. I
usually will invite people fromthe local community who are in
real estate, whether it'swholesalers, whether it's high
performing realtors that are...
Joey Romero (28:39):
Somebody who's killing it out there, right?
Lisa Hoegler (28:41):
What's that?
Joey Romero (28:42):
Somebody was killing it out there.
Lisa Hoegler (28:43):
Killing it out there, because they're feeling
what's going on in the market aswell. But one of my favorites, I
actually have two favorites thatI would always default to,
especially for people who arelearning, I love Anthony Chara.
Anthony Chara teachesmultifamily investing, and he
is, in my opinion, he's one ofthe best instructors on that
(29:06):
topic. He does just an amazingjob with students walking you
from knowing nothing all the waythrough buying your first
multiplex. So he's always beenone of my favorites. And I
actually did have him, or hadhim come talk to the group.
Within the last year, he was myonly, you know, outside speaker
like that. And then another onethat I always like. I don't know
(29:26):
that he speaks as much anymore,but maybe his company still
does. Is George Antone, with thefinance company. And he, George
is a, what I would call arecovering real estate investor,
and so he likes to help realestate investors also build
their wealth at the same timethey're doing real estate. And
(29:47):
he has a lot of really amazingprograms that help people retire
sooner with the income thatthey're generating from real
estate. So I find that that'slike a really nice compatible
and add on to what we do andwhat we teach people at the
clubs.
Joey Romero (30:02):
Nice. Dan, who's been the most dynamic?
Dan Redig (30:06):
Well, I got two, I think the first one, the one I
remember the best, is lastNovember. We had Matt and Craig
from Stay Classy San Diego. Theyrun an ADU management company,
and they provided so muchinformation, were so engaging,
and know the community so well,because this is where they do
all their investing, the meetingdragged on. We had to get out of
(30:28):
the space, you know, we wereasking people to leave. It was,
it was a fantastic meeting, andthey absolutely crushed it. The
other one was, we have Patrick,who's our kind of local realtor
who pushes everybody as hard aspossible to invest in the San
Diego area, and he's got it allfigured out, and he gets super
excited and jumps around andtells everybody's stories about
(30:49):
it. This area is this, and thisis that, and really gets them
pumped up. So it's, it's prettyawesome.
Joey Romero (30:53):
That's cool. All right, everyone that's gonna do
it for part one of our investorclub roundup show, our third
edition, be sure to tune in nextweek for part two. Thanks
Narrator (31:02):
For more information on hard money loans, trust deed
investing, and upcoming eventswith The Norris group. Check out
thenorrisgroup.com. For moreinformation on passive investing
through the DBL Capital RealEstate Investment Fund, please
visit dblapital.com.
Joey Romero (31:21):
The Norris Group originates and services loans in
California and Florida underCalifornia DRE license 01219911.
Florida mortgage lender license1577 and NMLS license 1623669.
For more information on hardmoney lending go to
thenorrisgroup.com and click thehard money tab.
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