May 30, 2025 • 30 mins
In Part 2 of the Real Estate Roundtable, host Joey Romero continues the conversation with REIA leaders Lisa Hoegler (LA South REIA), Larry French (CVREIA), and Dan Redig (SDCIA). They discuss their dream guest speakers, ongoing educational pursuits, and offer valuable insights into today’s market sentiment. The episode wraps with predictions for 2025, practical advice for new investors, and the importance of connecting with local investor communities.
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:
- REIA leaders share their dream guest speakers for investor club events
- Ongoing personal education and growth strategies for real estate professionals
- Insights into current market sentiment and how investors are reacting
- Expert predictions and economic outlook for real estate in 2025
- Actionable advice for new and aspiring real estate investors
- The importance of building relationships through local investor clubs
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.
Video Link
Radio Show
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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 back everybody to our Investor Club
Roundup part two with LarryFrench, Lisa Hoegler and Dan
Redig. Hope you enjoy. Allright, so let's assume that
we're all running an oldtraditional club, and you guys
have a monthly speaker everymonth. All right, we'll start
with Lisa, who is your dreamguest, living or historical in
(01:08):
real estate, not real estate.
Who would you want to bring tospeak to your investors?
Lisa Hoegler (01:13):
Oh, that's a good one.
Dan Redig (01:15):
That is a tough one, isn't it.
Lisa Hoegler (01:18):
Because some of the old guard...
Joey Romero (01:23):
By the way, one of the owners, answered Marcus
Aurelius.
Lisa Hoegler (01:31):
...way back in the day. Some...
Larry French (01:32):
Yeah. Genghis Khan.
Lisa Hoegler (01:35):
...of the old guard is just too difficult to
understand, like they talk incircles, and it's just kind of
difficult. Oh, that is, that issuch a tough one. Who would I
pray?
Joey Romero (01:49):
Let's get back to you. Dan, I'll put you on the
spot.
Dan Redig (01:54):
You know, I gotta say we love having Bruce, but if I
can't have Bruce, I'm gonna havePete Fortunato.
Joey Romero (02:01):
Okay, you'll have Pete. Pete, you always learn
something new every time. He'slike...
Let's go. Wait,when was the last time you had
Dan Redig (02:05):
Every time. Or Bill Cook, for that matter, Bill Cook
is another one of those whoreally, really gets it going and
him? Have you ever?
Bill's been a while.
Yeah.
shows people the way. Yeah.
Joey Romero (02:19):
Okay.
Dan Redig (02:20):
I'd have to, I'd actually have to look that up. I
don't know.
Joey Romero (02:23):
What about you, Larry?
Larry French (02:25):
I'd stick with the Florida theme, Dan, and I'd want
Jack Miller.
Joey Romero (02:29):
Okay.
Larry French (02:30):
Yeah, Jack Miller was wonderful.
Joey Romero (02:32):
The mentor's mentor.
Lisa Hoegler (02:33):
Now, Jack was fantastic too. Yeah, yeah. I
mean, guys are going way back. Ithink I would probably stick
with somebody who's around. Andlike I said, I think I'm gonna
go back to George Antone, whichis not, nobody's really heard of
him as much. You know, he's not,not as big of a name, but I
would if I had to go give creditfor being the investor I am to
(02:56):
one person and absolutely beingan incredible mentor that
understood things from 10different directions at the same
time, it would be him. So ifeverybody had the opportunity to
learn from him, I say takeadvantage of it. He's one of a
Joey Romero (03:13):
Now, I've seen you guys. Whenever we've put out a
kind.
seminar, you guys are always,you know, some of the first to
sign up and to come. Do youguys, at this point still go to
educational seminars? What areyou guys doing to stay in the
game and stay educated? And I'llstart with Larry.
Larry French (03:29):
Yep. So I go to most Norris Group's, events,
stuff still, and which I becauseI still get value, you know, and
I love you guys. You if itwasn't for Bruce and his team, I
would not, I literally wouldnot, financially be where I am
today. So there and then I go tothe Masters of Real Estate,
(03:50):
which is held in Las Vegas oncea year in November, run by Gary
Johnston. And he usually fillsit with a lot of the Florida
guys we were just chattingabout, and other smart people.
And then up until DychesBoddiford passed away a year and
a half ago, we would fly toAtlanta once a month, once a
year, and take his AdvancedStrategies class, which was much
(04:11):
more tax and structure based.
Wasn't about how to go find yourdeals and how to put your deals
together. It's for people.
They're already good with that,and they need to, you know, lean
to to step.
Joey Romero (04:21):
Hang on to the wealth.
Larry French (04:23):
Yes, that's since been taken over from John
higher, and I have not beensince he's taken it over.
Joey Romero (04:29):
Okay. Dan, you still going education?
Dan Redig (04:32):
Still going to education. You know, I there's a
couple books I have that I stillrevisit, but not so much
anymore, right? They're gettingto be kind of dead, but a lot of
stuff local, actually. There's acouple of other folks running
small groups that are reallyfocused very narrowly on a niche
that I enjoy going to. Breweryis one of them, our built hands
calculator classes, always solidgold. Can't get off of that. But
(04:56):
otherwise, I pick one to twoevents every year that I try to
go to so I don't have afavorite, because every I try
not to repeat. So I'll lookaround and see what's
interesting. Where am I going?
And so, so this year, I'mlooking more towards stuff
focused on raising private moneyor doing syndication type work.
So I'll have to see what's outthere for the fall when I go.
Joey Romero (05:16):
Nice. Lisa? What do you do for education?
Lisa Hoegler (05:19):
Yeah, actually, I've shifted in the last couple
years, because, I would say, upuntil about two years ago, I was
still heavily attending allkinds of events all over the
country and Masterminds and thatkind of thing. And I started
going to the classes andrealized that, aside from things
like The Norris Group that aretimely and talking about what's
(05:41):
going on the market, I startedrealizing that I could give a
lot of the seminars I was goingto. And that had happened
partially because at my REIA,I've done a lot of teaching. We
used to have almost six classesa month, and I was doing in
depth teaching on tons oftopics, so between my own
personal experience and thenhaving to put together a unique
(06:03):
curriculum. I really had learneda lot of stuff. I'm a lifelong
learner kind of a thing. And sowhat I've started focusing on
now is a little bit of differentareas that I don't have as much
experience, like what's going onwith AI and real estate? How do
I use some of my own Excel and,you know, that kind of
(06:24):
background that I have to domore with real estate and, or
just do more in general. So I'mbranching out into a little bit
different areas that I didn'thave as much experience with
because the nuts and bolts ofhow real estate works. I got
that. I checked those boxes. NowI want to kind of supplement
with the rest of the tools thatcan help build a business even
(06:45):
more. And those are things I canshare with people as well.
Joey Romero (06:49):
Sure, you know, I shared with you guys off before
we started recording that readquite a few books. The last book
I read is really interesting.
It's called The AI-DrivenLeader. And it's basically the
thought is that there's nogetting around it. AI is here to
stay, and it's going to comelike this huge wave. But what we
have to focus on is how to makeAI our thought partner, and
(07:10):
keeping us the leaders andalways being the human in the
room, so that's, it's a greatbook. I highly recommend it to
our, to you guys and to all ofour listeners. It's a great
book. So I want to touch alittle bit about what's going on
right now. You know, there's,you know, we, we've, we've
always had the moodometer. Youknow, that's Bruce's big thing,
right? What's the mood? He knowsthe, what's the buyer's mood?
(07:31):
What's the, so, with everythinggoing on, volatility to stock
market, the ups and down, thetariffs, new administration,
everything going on. What do youguys think the mood of real
estate in general, and realestate investing is right now?
And I'll let whoever wants tojump in first, go ahead and take
the lead on this.
Lisa Hoegler (07:51):
I'll jump.
Joey Romero (07:52):
Yeah.
Lisa Hoegler (07:53):
The mood?
Joey Romero (07:54):
Well, you have the Port of Los Angeles right there,
right? So.
Lisa Hoegler (07:57):
We do, we do. And actually we have a whole bunch
of longshoremen in some groups,so they're not so happy right
now. I don't think the mood isgood. I don't think the mood is
is very optimistic for thefuture. Now, great for
investors, right? The investorsare sitting here. I see them
salivating. It's happening,right? And I know for myself,
(08:19):
I've been investing for a longtime, but I didn't do that well
in 2008 unlike Bruce, I kind oftook the wrong path that at that
time, and I've been waiting forour time. I've been waiting for
the cycle to change so that Icould actually take advantage of
of opportunities that are outthere. So I don't see, I seen
the I see the real estateinvestment market a little bit
(08:42):
excited about it. It doesn'talways translate to clubs,
because usually when themarket's turning down, people
sort of stay away from clubs.
They're a little nervous.
They're a little...
Joey Romero (08:52):
Oh, it's not easy at that point.
Lisa Hoegler (08:53):
Of course, but it's really an exciting time to
be in it, for sure. I think froma retail buyer, I would say one
of the things that I feel likeis so shocking to me this time
is that it always feels to melike real estate is sort of like
a late mover. It's sort of lastto react to whatever's going on
in economics. And I think whatwe're what I'm seeing, at least
(09:17):
in my market in the South Bay,is that we're seeing the impacts
of it already. I mean, in fullforce, and no, no delays. And we
haven't even, we haven't seenthe worst of maybe the economy,
you know, in the charts yet, butwe're feeling it hard already.
So I can only imagine what'scoming.
Joey Romero (09:37):
What's the mood like in San Diego, Dan?
Dan Redig (09:41):
Kind of similar to what Lisa's describing. You
know, people are apprehensive.
They're nervous. They don't knowwhat to expect, right? You know,
that fear of uncertaintycertainly rearing its head. But
the same sentiment amongst theinvestors, you know, a good
buddy of mine, Alec, caught uplast week, and he was, he was
telling me, 'It's coming. It'scoming. Here we go.' You know,
very excited about. Up maybesome more opportunity, because
finding deals has been hard fora while. But that said, you
(10:03):
know, San Diego seems to beholding strong.
Joey Romero (10:08):
That seems gotta be so confusing, right? It feels
like, it feels like, you know,like something, some doom is
coming, but pricing isn't goinganywhere in California?
Dan Redig (10:17):
Right. Well, it's almost like 2018 if you remember
that.
Joey Romero (10:20):
Yeah.
Dan Redig (10:20):
When we were thinking, this has got to be a
downturn again, and it heldsteady. And then 2019 students
started moving a little bitmore. And then, of course, you
know, the pandemic changed,changed everything. So I don't
really compare that differentstory. So, you know, we just got
a jobs report. It looked awesomein San Diego. What am I going to
say, right? Everyone wants tosteer the doom and gloom, and
(10:41):
they're going to get thisdownturn, and how these downturn
and have these buyingopportunity, you know, you know,
pick up their STRs, or theirlong term rentals, or whatever
it is that they want to do. AndI, frankly, I don't think it's
coming. You know, the theeconomy at large would have to
take a large and sustained hitbefore San Diego took a dramatic
downturn with the way it'slooking right now. I mean,
famous last words, right? Callme next week when I'm crying.
Joey Romero (11:02):
Well, I think that's why a lot of people are
just looking to add valuesomehow, some way, whether it's,
you know, square footage, lotsplits, ADUs, things like that.
Dan Redig (11:10):
Yep.
Joey Romero (11:11):
So Larry, what's the mood out in the desert?
Larry French (11:14):
Uh, blah, yeah.
Nobody's quite sure what's goingon. So, I mean, there's
opportunity for sure. Remember,I was talking about how we have
a lot of tourist buyers. Well,the Canadians aren't real
excited to some of them aren'treal excited to be here right
now.
Joey Romero (11:32):
And we're seeing that in Florida too.
Larry French (11:34):
And so they're selling, and it makes sense for
them to sell. What is theirdollar? The conversions dollar
45 to $1 I mean, that soundslike a jackpot time to sell your
Coachella Valley house. And thatwould have to the question would
then be, well, who would buy itfrom you, if you're a flipper,
or who would live in it ifyou're going to keep it? The
(11:56):
Canadians even, are theyattracted a type of house you
even want to hold on to? Or isit going to be something in an
HOA with 20 pools, becausethey're coming down here to have
fun. Outrageous HOA, or 24 hoursecurity, that just blows your
return. So I would just say thethe it feels like a great time
(12:18):
to buy like, for instance, inYucca Valley. Yucca Valley is a
valley is the valley just aboveus. We're Coachella Valley.
We're the low desert. YuccaValley is 30 minutes away, 20
minutes away.
Joey Romero (12:25):
Joshua Tree, right?
Larry French (12:27):
Correct. Joshua Tree. 29 Palms in the city of
Yucca Valley. Right now, YuccaValley has 850 active listings.
Last month, they had 85 sold. 85houses sold out of almost 900
listed, yeah, and they have 12months of inventory up there
right now. Yeah, it's a full onbuyer's market in Yucca Valley
(12:49):
right now. Rents are low. Youbetter buy low if you're going
to keep that yeah, andnecessarily, a lot of people
excited about living or buying asecond home there, but they do.
They're, I mean, it's abeautiful area, people will buy
it. So I think the key would beat least where we're at. There's
some deals here. Just how areyou going to hold on to them?
(13:09):
Are you going to, if you canfind, you know when, when deals
show up? At least my experiencewhen deals showed up in 2009,
10, 11, 12, yeah, it wasn't amatter of finding the deals. It
was a matter of finding the debtthat allowed me to keep them.
And so I would work like Dan wassaying, maybe, you know, he's
gonna do a little work on rightraising funds this time around.
(13:30):
It might be, if you're expecteda market cooling, which we're
feeling now here I would putwork into finding some money to
to take advantage of that.
Joey Romero (13:40):
One, of the things you know, I, I've heard a lot of
club owners and just investorsin general, is, is knowing your
numbers, staying in your BuyBox, and being honest with
yourself. Because you know it'swhen you go outside of that is
when you get in trouble, you getyourself hurt.
Dan Redig (13:59):
Right. 100% FOMO is a thing. Yeah, every time, right.
Joey Romero (14:05):
Yes. All right.
What do you think the outlookfor the rest of the year is?
It's still just up in the air,because nobody can figure out,
you know, when it's gonna go oneway or the other or what? How do
you think the rest of 2025, willend?
Lisa Hoegler (14:19):
I personally gotta be really slow all year. I think
it's going to be very, veryslow. And I think because of the
slowness, we're going to see alot of opportunity. If you're
positioned right, if you'refamiliar with doing creative
financing, if you have capitalsources, you're going to have no
problem buying I give peoplekind of an antidote. It's just
(14:42):
good to kind of compare. I'm ona whole bunch of wholesalers
lists and whatnot for a varietyof different kind of properties,
and where I used to get maybe, Iwould say maybe five or six a
week. Right now, I'm currentlygetting no less than 50 a week.
So the volume. This ticked upconsiderably, none. They're not
deals. They're not things that Iwould rush out to to buy.
Joey Romero (15:05):
Situations, their situations?
Lisa Hoegler (15:07):
Yeah, yeah. But what, very time I ask the
question, 'what's going on?
What's going on?' We know whatI'm asking the wholesalers, what
the situation is. It's peopleare very, we've been in such a
seller's market for so long,sellers are very impatient, and
so they're saying, oh my gosh,I've been listed for 30 days. I
(15:27):
don't have an offer. No one'scoming to my open houses. I've
got to sell. I'm desperate, andso I'm seeing the desperation
tick up considerably, eventhough we don't necessarily have
any other factors in the marketthat is...
Joey Romero (15:42):
...been spoiled right?
Lisa Hoegler (15:44):
...right now.
It's, it's literally aperception thing, and that that,
that desperation is superpalpable right now. So I think
we're going to continue to seethat as days on market goes up.
As you know it, the the marketsoftens. I don't know what's
going to happen with liquidityas the year goes on? I gotta
assume that lending standardsare going to tighten, and then
(16:05):
that's going to add to thatperception. But I think the
seller's eagerness to get out isdefinitely going to do a lot to
push the market down.
Joey Romero (16:18):
Larry, you were going to start talking about how
you thought 2025 would end.
Larry French (16:24):
I'm with you, Lisa. I don't see big changes. I
don't see any reasons for bigchanges or swings in the market,
just kind of floundering around,slopping around. Hopefully the
current administration won'tprint a bunch more money, like
the last you know, we've beendoing for the last 10 years.
That'll just add more moneychasing dumb deals and support
(16:45):
prices we don't. I don't thinkwe need lower interest rates on
conventional stuff. I think themarket needs to adjust to it.
That would be healthier for thecountry if prices adjusted to
six and a half 7% you know, andthey're making their way there.
Joey Romero (16:57):
Which is the median, if you look at it over
the last five years.
Dan Redig (17:00):
Where it should be.
Larry French (17:02):
Yes. So hopefully that continues. I believe we're
kind of slowly tumbling thatway, you know. Hopefully that
continues on. I would say I keepan eye. You want to keep an eye.
I like to keep an eye on outliermarkets that I feel will feel
pain earlier than more. Yeah,desirable markets where some of
(17:23):
us might you know where we workmore so, for instance, I
mentioned Yucca Valley, theyYucca Valley felt much pain
earlier and harder during 2009,10, 11, 12, than the Coachella
Valley, and a whole lot earlierand harder than Corona and
Orange County and Yorba Linda,and, you know, in Mission Viejo.
(17:44):
And as you get closer to thecoast, other areas that have
similar characteristics. Is likeAdelanto in Apple Valley. You
keep an eye if those if you'restarting to see 40% off in Apple
Valley compared to just 18months ago. There's mean either
coming or it's about to gethere, so I like to watch those
outlier markets too. Help giveme idea what's going on. The
(18:04):
other thing I'm cautious of isthat some of the houses I
bought, so I'm Yeah, and I wasfortunate enough to be able to
keep a lot of the houses that Ibought in 2009 1011, and I still
have them today. And I was, itwas very nervous buying, then
you would tell friends, I'm, youknow, you're buying real estate,
and they thought you didn't,you're insane. So I keep I like
(18:29):
people to hear what people arenot in our industry are saying,
right? And you can kind of get alittle bit of into that when you
see an article in a mainnewspaper, you know, the LA
Times or something, becausethose aren't people that are
like us down and doing it if thehomes that I purchased in '09
and 10 weren't even as good asthe deals I got in 10 and 11,
(18:50):
you know, 10, 11, and early 12.
So, that was a prolonged amountof stuff that needed to be
resold and fixed and bad debtcleared off. But I am a little
cautious of when I do see thefirst best signs of buying. I'm
going to still go a littlecautious for the first six
months, because I, there is alot of the people that come into
the club and then I speak tothey're all like, 'I'm waiting
(19:11):
for it to crash. I'm waiting forto crash. I got money', so I'm
going to let their money go inand buy a lot of that stuff at
the forefront...
Joey Romero (19:19):
You're going to wait for the the apple update,
not the first front.
Larry French (19:23):
There you go.
Thank you.
Joey Romero (19:26):
So Dan, what do you see for the rest of 2025?
Dan Redig (19:29):
You know, it's pretty murky, Joey, I would say that
political climate is veryunpredictable. We don't really
know what's going to happen. Andwithout getting too much further
into that wicket of fun. I thinkthings are going to be generally
kind of as is, you know, it's amuddle through. I don't think
(19:49):
we're going to see anything toocrazy. You know, there's the
pressure to get the Fed to lowerrates. I don't know if they'll
be successful, but I don't thinkthey can go that low, either.
We're not going to see 2, 3, 4,percent it, the market doesn't
justify it. So it's a modelthrough, you know, work your
deals carefully. Know whatyou're talking about. Stay in
(20:09):
your buy box. Make sure, youknow for sure the the exact
neighborhood and house type thatyou're going for. And you know,
it's because things are gettinghard to predict. Well,
Joey Romero (20:19):
One of the things that we're finding in Florida is
price ranges are affecteddifferently, you know, so in the
325, and lower you can, you cansell those all day long. You get
into just under, you know,700,000 that middle market is
(20:40):
just really rate sensitive andmarket sensitive overall. You
know, their investments are, youknow, taking a hit right now, so
they're kind of all putting apause, and then you get into
that 800 to 2 million, andthose, if you have the right
product, you know, you don't,there's plenty of buyers for
that. So it's, it's it's kind ofa weird time.
Lisa Hoegler (21:01):
I would say we're seeing a similar thing in the
dollar. If you've got a $2million plus property, you're
not having any problem sellingit. But if you go at the low
end, you're having trouble rightnow. So if people are in the
market right now, for if they'redoing flips, if they're trying
to wholesale things like that,I'd stay away from the low end
(21:23):
stuff. I think there's stilldefinitely a market for that
middle and upper tier. But I'mnot seeing it. I'm seeing I'm
seeing a lot of struggle in thatlow end of the market.
Joey Romero (21:33):
You guys getting the same thing.
Larry French (21:35):
Two and a half million in upsells easily around
here, and then 350, and lower,which is our lowest, lowest
stuff. Maybe, Coachella, maybe,you know, down by the thermal
places like that, those sell.
We're having a little moretrouble in the middle, actually,
is where we're seeing that stuffsit. That would be prices range
from five to seven.
Joey Romero (21:56):
Dan?
Dan Redig (21:56):
Somewhat similar.
Yeah. The the middle has beenmoving. So we're seeing a lot of
folks, you know, San Diego alittle too expensive, so there's
a lot of pressure to movetowards north county. We're
seeing a lot more pressure anddistance and Marcos, you know, I
used to be able to go up thereand look for a short term
rental, you know, easily five
Joey Romero (22:15):
Well, there are two more questions, as we're
bedroom under a mill, even 800less than a year ago. And now
they're around a mill, one, one,very quickly. So it's San
Diego's feeling that pressure,and there are people trying to
do something about it.
wrapping up, we've almost beenat this for now. So I want to
(22:37):
ask each one of you. So I'm,Larry. I'll start with you. I'm
brand new to investing. Neverbeen to a club meeting, and I
show up. What is the advice thatyou give me?
Larry French (22:48):
Listen and ask a lot of questions, and then don't
be nervous and afraid to callthe folks that are that you got
a good, that you like theiranswer. So some of the folks
that I've seen do the best thathave come through our clubs, you
know, actually come fromnothing. I mean, one guy was
(23:09):
literally a gardener that wouldclimb palm trees and fell out of
a palm tree and in the hospital,when his brokes back and the
hospital, he saw infomercialsabout real estate investing.
Well, he's like, I don't havethe money to do have the money
to do that. He's, you know,immigrant parents. His dad's a
gardener, and he walked in ourdoor and just started attending
(23:30):
the club for no cost. He wouldcall me all the time, and I
loved helping the guy, and Iwould point him to but he had
the guts to pick up the phoneand call So, Joey, if you're
brand new and coming in, I'dsay, ask questions and don't
hesitate to keep reaching out topeople. If they're bugging you,
they're going to tell you you'rebugging me, but get what you
need, fight for you and for yourfamily to learn do how to do
(23:53):
this.
Joey Romero (23:53):
Awesome. Lisa, all right, first day in LA South
REIA, what are you telling me?
Lisa Hoegler (23:57):
I would say the same thing you just said, and I
would say, especially the peoplewho are here with the clubs
we're here to help. I've nevermet a club owner that genuinely
is not there to help theirmembers and one of their
members, possibly to avoid someof the same pitfalls they fell
into, right? Because if they'resuccessful, we're all we're all
(24:17):
successful, right? All boatsrides together. So I want to see
nothing more than my memberssuccess. One of the things I
would say that saddens me mostabout being a club leader, is
that oftentimes you've builtrapport with your members for so
long, so many years, you'vetaught them, you've been there
(24:38):
for them, and then they go on,they do a deal, screw it up, and
then they come back after thefact and tell you, Oh my gosh,
can you help clean this up? Andthat's so infuriating to me as a
Club member, because we couldhave helped you avoid it in the
first place. So I wouldencourage people who are brand
new, get in there and learn. Askquestions, but take action,
(25:01):
because the best learning youwill ever have is if you take
action, but don't do it alone.
We're there to help you andsupport you so that you don't
make a stupid mistake, and wewant to make sure that you
succeed, especially in yourfirst deal, so that you can go
on to the next one and the nextone and the next one.
Joey Romero (25:19):
Nice. All right.
Dan, I met SDCIA For the veryfirst time. I'm brand new. What
do you tell me?
The what I'm finding is the mostsuccessful are the ones that
Dan Redig (25:24):
I'm going to tell you to talk to people, see what
they're doing today. What arethe most common strategies that
are being deployed, right,successfully, even if you're
especially if you're in thelocal market in our area, right?
But then don't pick one thatseems like it's exciting or
fancy or where they're makingthe most money. Pick something
that resonates with yourpersonality and your skills,
right? I know a lot of peoplewho walk into this who have no
(25:46):
business experience, they'venever made an offer anything
other than a car maybe, and theydon't really know how to get
through the wickets and make itwork. So there's different
strategies, you know, if youdon't know hospitality, maybe
don't do hotels or short termrental, right? So get with
somebody mentorship and learnthose things. So yeah, pick
something that suits yourpersonality that you can really
(26:06):
deliver on, that works with theskills you have now. So you can
get moving. You can changelater. It's fine, right? Pivot,
find a way to stay in the game.
but then, and then, yeah, andthen, but then get to work. Do
the work, even if you don't knowwhat to do, do something every
day or any day you can, youknow, you never know how it's
going to go. I think everybodyhere and anybody reinvesting
would agree that you're going totry 1000 things, and two of them
Yes, just keep trying things.
Take action all the time. Makeare going to work, right? So
(26:27):
just get at it. Do the work.
offers, I tell them to makeoffers, right?
Larry French (26:40):
You have to stay tenacious. You have to not make
it otherwise.
Joey Romero (26:41):
All right, Dan, I'll let you lead this. Final
question is, how does somebodyget connected with SDCIA? When
is your meeting? Just tell usall, everybody how they can
start going to SDCIA.
Dan Redig (26:58):
You got it So our website is sdcia.com it's a
wealth of information. Go there.
Check out the calendar. Look atthe classes and stuff that are
coming up. Check out oursponsors, and then come see us.
The easy ones are the second
Tuesday of every month at 4 (27:11):
30 when our networking starts for
the main monthly meeting. Andthen the last Wednesday of every
month we have a beer night. Wemeet at Novo Brewing in Mission
Valley, it's a free event. Justcome on, come meet us and get
your feet wet. Let's go.
Joey Romero (27:25):
Awesome. Larry, how does somebody attend your lunch?
Larry French (27:30):
Yeah, so we're the third Wednesday of every month,
and the easiest way to find usand put a little reservation in
to let us know how many seats totell the restaurant to sit out
is to go to the acronym for theclub. So the club name is
Coachella Valley Real EstateInvestors Association. So,
(27:51):
cvreia.com.
Joey Romero (27:55):
Lisa, how does somebody involved?
Lisa Hoegler (27:57):
So we also have a website. It's actually being
worked on right now, but it'slasalesreia.com and we are
meeting the second Monday of themonth where we are new for
format online is actually tostart at six o'clock. Between
six and seven, we have aneducational segment, and then
(28:18):
our club meeting starts at seveno'clock. So for people who just
want to attend that particulartopic, they can come from six to
seven, and then our club meetingstarts at seven, and it goes
until nine o'clock with ourfeatured speaker, or if it's a
topic we're discussinginternally, best way for people
to get connected is by sendingan Email, actually, to
(28:39):
info@lasouthreia.com, and youcan do that from our website or
just i-n-f-o@lasouthr-e-i-a.com,we'll add you to our list, and
then we'll make sure that you'reaware of all the events that are
coming out and how you can getregistered for them.
Joey Romero (28:59):
Well, I can't thank you guys enough for jumping on
with our show. So everybody outthere, we have always been
partnered with clubs that were,we feel that you can trust as an
investor, obviously, do yourdiligence. You know, that's
probably the first thing that Iremember from going to all the
clubs with Bruce. Is the firstslide is, hey, remember, you got
(29:22):
you're responsible for doingyour own diligence, whatever.
But these, these are telling youto go to these clubs. And we're
highlighting these clubs thatthat we trust, and we would
never speak at a club that wedidn't trust. So, that's why I'm
having these folks oneventually, I like to highlight
more. But we started out withthe ones that you can go ahead
and trust that they're not outthere to steal your deals.
(29:45):
They're not there to figure outa way how to make money on you.
These people are truly, truly init to help everybody, because
when we help everybody else getwhat they want, we end up
getting what we want too.
Dan Redig (29:56):
So absolutely.
Joey Romero (29:58):
Thank you so much, everybody. I really. Appreciate
guys jumping on and we'll seeyou guys next time.
Lisa Hoegler (30:03):
Thank you. Joey.
Dan Redig (30:04):
Thanks, Joey.
Narrator (30:06):
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 (30:25):
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 back everybody to our Investor Club
Roundup part two with LarryFrench, Lisa Hoegler and Dan
Redig. Hope you enjoy. Allright, so let's assume that
we're all running an oldtraditional club, and you guys
have a monthly speaker everymonth. All right, we'll start
with Lisa, who is your dreamguest, living or historical in
(01:08):
real estate, not real estate.
Who would you want to bring tospeak to your investors?
Lisa Hoegler (01:13):
Oh, that's a good one.
Dan Redig (01:15):
That is a tough one, isn't it.
Lisa Hoegler (01:18):
Because some of the old guard...
Joey Romero (01:23):
By the way, one of the owners, answered Marcus
Aurelius.
Lisa Hoegler (01:31):
...way back in the day. Some...
Larry French (01:32):
Yeah. Genghis Khan.
Lisa Hoegler (01:35):
...of the old guard is just too difficult to
understand, like they talk incircles, and it's just kind of
difficult. Oh, that is, that issuch a tough one. Who would I
pray?
Joey Romero (01:49):
Let's get back to you. Dan, I'll put you on the
spot.
Dan Redig (01:54):
You know, I gotta say we love having Bruce, but if I
can't have Bruce, I'm gonna havePete Fortunato.
Joey Romero (02:01):
Okay, you'll have Pete. Pete, you always learn
something new every time. He'slike...
Let's go. Wait,when was the last time you had
Dan Redig (02:05):
Every time. Or Bill Cook, for that matter, Bill Cook
is another one of those whoreally, really gets it going and
him? Have you ever?
Bill's been a while.
Yeah.
shows people the way. Yeah.
Joey Romero (02:19):
Okay.
Dan Redig (02:20):
I'd have to, I'd actually have to look that up. I
don't know.
Joey Romero (02:23):
What about you, Larry?
Larry French (02:25):
I'd stick with the Florida theme, Dan, and I'd want
Jack Miller.
Joey Romero (02:29):
Okay.
Larry French (02:30):
Yeah, Jack Miller was wonderful.
Joey Romero (02:32):
The mentor's mentor.
Lisa Hoegler (02:33):
Now, Jack was fantastic too. Yeah, yeah. I
mean, guys are going way back. Ithink I would probably stick
with somebody who's around. Andlike I said, I think I'm gonna
go back to George Antone, whichis not, nobody's really heard of
him as much. You know, he's not,not as big of a name, but I
would if I had to go give creditfor being the investor I am to
(02:56):
one person and absolutely beingan incredible mentor that
understood things from 10different directions at the same
time, it would be him. So ifeverybody had the opportunity to
learn from him, I say takeadvantage of it. He's one of a
Joey Romero (03:13):
Now, I've seen you guys. Whenever we've put out a
kind.
seminar, you guys are always,you know, some of the first to
sign up and to come. Do youguys, at this point still go to
educational seminars? What areyou guys doing to stay in the
game and stay educated? And I'llstart with Larry.
Larry French (03:29):
Yep. So I go to most Norris Group's, events,
stuff still, and which I becauseI still get value, you know, and
I love you guys. You if itwasn't for Bruce and his team, I
would not, I literally wouldnot, financially be where I am
today. So there and then I go tothe Masters of Real Estate,
(03:50):
which is held in Las Vegas oncea year in November, run by Gary
Johnston. And he usually fillsit with a lot of the Florida
guys we were just chattingabout, and other smart people.
And then up until DychesBoddiford passed away a year and
a half ago, we would fly toAtlanta once a month, once a
year, and take his AdvancedStrategies class, which was much
(04:11):
more tax and structure based.
Wasn't about how to go find yourdeals and how to put your deals
together. It's for people.
They're already good with that,and they need to, you know, lean
to to step.
Joey Romero (04:21):
Hang on to the wealth.
Larry French (04:23):
Yes, that's since been taken over from John
higher, and I have not beensince he's taken it over.
Joey Romero (04:29):
Okay. Dan, you still going education?
Dan Redig (04:32):
Still going to education. You know, I there's a
couple books I have that I stillrevisit, but not so much
anymore, right? They're gettingto be kind of dead, but a lot of
stuff local, actually. There's acouple of other folks running
small groups that are reallyfocused very narrowly on a niche
that I enjoy going to. Breweryis one of them, our built hands
calculator classes, always solidgold. Can't get off of that. But
(04:56):
otherwise, I pick one to twoevents every year that I try to
go to so I don't have afavorite, because every I try
not to repeat. So I'll lookaround and see what's
interesting. Where am I going?
And so, so this year, I'mlooking more towards stuff
focused on raising private moneyor doing syndication type work.
So I'll have to see what's outthere for the fall when I go.
Joey Romero (05:16):
Nice. Lisa? What do you do for education?
Lisa Hoegler (05:19):
Yeah, actually, I've shifted in the last couple
years, because, I would say, upuntil about two years ago, I was
still heavily attending allkinds of events all over the
country and Masterminds and thatkind of thing. And I started
going to the classes andrealized that, aside from things
like The Norris Group that aretimely and talking about what's
(05:41):
going on the market, I startedrealizing that I could give a
lot of the seminars I was goingto. And that had happened
partially because at my REIA,I've done a lot of teaching. We
used to have almost six classesa month, and I was doing in
depth teaching on tons oftopics, so between my own
personal experience and thenhaving to put together a unique
(06:03):
curriculum. I really had learneda lot of stuff. I'm a lifelong
learner kind of a thing. And sowhat I've started focusing on
now is a little bit of differentareas that I don't have as much
experience, like what's going onwith AI and real estate? How do
I use some of my own Excel and,you know, that kind of
(06:24):
background that I have to domore with real estate and, or
just do more in general. So I'mbranching out into a little bit
different areas that I didn'thave as much experience with
because the nuts and bolts ofhow real estate works. I got
that. I checked those boxes. NowI want to kind of supplement
with the rest of the tools thatcan help build a business even
(06:45):
more. And those are things I canshare with people as well.
Joey Romero (06:49):
Sure, you know, I shared with you guys off before
we started recording that readquite a few books. The last book
I read is really interesting.
It's called The AI-DrivenLeader. And it's basically the
thought is that there's nogetting around it. AI is here to
stay, and it's going to comelike this huge wave. But what we
have to focus on is how to makeAI our thought partner, and
(07:10):
keeping us the leaders andalways being the human in the
room, so that's, it's a greatbook. I highly recommend it to
our, to you guys and to all ofour listeners. It's a great
book. So I want to touch alittle bit about what's going on
right now. You know, there's,you know, we, we've, we've
always had the moodometer. Youknow, that's Bruce's big thing,
right? What's the mood? He knowsthe, what's the buyer's mood?
(07:31):
What's the, so, with everythinggoing on, volatility to stock
market, the ups and down, thetariffs, new administration,
everything going on. What do youguys think the mood of real
estate in general, and realestate investing is right now?
And I'll let whoever wants tojump in first, go ahead and take
the lead on this.
Lisa Hoegler (07:51):
I'll jump.
Joey Romero (07:52):
Yeah.
Lisa Hoegler (07:53):
The mood?
Joey Romero (07:54):
Well, you have the Port of Los Angeles right there,
right? So.
Lisa Hoegler (07:57):
We do, we do. And actually we have a whole bunch
of longshoremen in some groups,so they're not so happy right
now. I don't think the mood isgood. I don't think the mood is
is very optimistic for thefuture. Now, great for
investors, right? The investorsare sitting here. I see them
salivating. It's happening,right? And I know for myself,
(08:19):
I've been investing for a longtime, but I didn't do that well
in 2008 unlike Bruce, I kind oftook the wrong path that at that
time, and I've been waiting forour time. I've been waiting for
the cycle to change so that Icould actually take advantage of
of opportunities that are outthere. So I don't see, I seen
the I see the real estateinvestment market a little bit
(08:42):
excited about it. It doesn'talways translate to clubs,
because usually when themarket's turning down, people
sort of stay away from clubs.
They're a little nervous.
They're a little...
Joey Romero (08:52):
Oh, it's not easy at that point.
Lisa Hoegler (08:53):
Of course, but it's really an exciting time to
be in it, for sure. I think froma retail buyer, I would say one
of the things that I feel likeis so shocking to me this time
is that it always feels to melike real estate is sort of like
a late mover. It's sort of lastto react to whatever's going on
in economics. And I think whatwe're what I'm seeing, at least
(09:17):
in my market in the South Bay,is that we're seeing the impacts
of it already. I mean, in fullforce, and no, no delays. And we
haven't even, we haven't seenthe worst of maybe the economy,
you know, in the charts yet, butwe're feeling it hard already.
So I can only imagine what'scoming.
Joey Romero (09:37):
What's the mood like in San Diego, Dan?
Dan Redig (09:41):
Kind of similar to what Lisa's describing. You
know, people are apprehensive.
They're nervous. They don't knowwhat to expect, right? You know,
that fear of uncertaintycertainly rearing its head. But
the same sentiment amongst theinvestors, you know, a good
buddy of mine, Alec, caught uplast week, and he was, he was
telling me, 'It's coming. It'scoming. Here we go.' You know,
very excited about. Up maybesome more opportunity, because
finding deals has been hard fora while. But that said, you
(10:03):
know, San Diego seems to beholding strong.
Joey Romero (10:08):
That seems gotta be so confusing, right? It feels
like, it feels like, you know,like something, some doom is
coming, but pricing isn't goinganywhere in California?
Dan Redig (10:17):
Right. Well, it's almost like 2018 if you remember
that.
Joey Romero (10:20):
Yeah.
Dan Redig (10:20):
When we were thinking, this has got to be a
downturn again, and it heldsteady. And then 2019 students
started moving a little bitmore. And then, of course, you
know, the pandemic changed,changed everything. So I don't
really compare that differentstory. So, you know, we just got
a jobs report. It looked awesomein San Diego. What am I going to
say, right? Everyone wants tosteer the doom and gloom, and
(10:41):
they're going to get thisdownturn, and how these downturn
and have these buyingopportunity, you know, you know,
pick up their STRs, or theirlong term rentals, or whatever
it is that they want to do. AndI, frankly, I don't think it's
coming. You know, the theeconomy at large would have to
take a large and sustained hitbefore San Diego took a dramatic
downturn with the way it'slooking right now. I mean,
famous last words, right? Callme next week when I'm crying.
Joey Romero (11:02):
Well, I think that's why a lot of people are
just looking to add valuesomehow, some way, whether it's,
you know, square footage, lotsplits, ADUs, things like that.
Dan Redig (11:10):
Yep.
Joey Romero (11:11):
So Larry, what's the mood out in the desert?
Larry French (11:14):
Uh, blah, yeah.
Nobody's quite sure what's goingon. So, I mean, there's
opportunity for sure. Remember,I was talking about how we have
a lot of tourist buyers. Well,the Canadians aren't real
excited to some of them aren'treal excited to be here right
now.
Joey Romero (11:32):
And we're seeing that in Florida too.
Larry French (11:34):
And so they're selling, and it makes sense for
them to sell. What is theirdollar? The conversions dollar
45 to $1 I mean, that soundslike a jackpot time to sell your
Coachella Valley house. And thatwould have to the question would
then be, well, who would buy itfrom you, if you're a flipper,
or who would live in it ifyou're going to keep it? The
(11:56):
Canadians even, are theyattracted a type of house you
even want to hold on to? Or isit going to be something in an
HOA with 20 pools, becausethey're coming down here to have
fun. Outrageous HOA, or 24 hoursecurity, that just blows your
return. So I would just say thethe it feels like a great time
(12:18):
to buy like, for instance, inYucca Valley. Yucca Valley is a
valley is the valley just aboveus. We're Coachella Valley.
We're the low desert. YuccaValley is 30 minutes away, 20
minutes away.
Joey Romero (12:25):
Joshua Tree, right?
Larry French (12:27):
Correct. Joshua Tree. 29 Palms in the city of
Yucca Valley. Right now, YuccaValley has 850 active listings.
Last month, they had 85 sold. 85houses sold out of almost 900
listed, yeah, and they have 12months of inventory up there
right now. Yeah, it's a full onbuyer's market in Yucca Valley
(12:49):
right now. Rents are low. Youbetter buy low if you're going
to keep that yeah, andnecessarily, a lot of people
excited about living or buying asecond home there, but they do.
They're, I mean, it's abeautiful area, people will buy
it. So I think the key would beat least where we're at. There's
some deals here. Just how areyou going to hold on to them?
(13:09):
Are you going to, if you canfind, you know when, when deals
show up? At least my experiencewhen deals showed up in 2009,
10, 11, 12, yeah, it wasn't amatter of finding the deals. It
was a matter of finding the debtthat allowed me to keep them.
And so I would work like Dan wassaying, maybe, you know, he's
gonna do a little work on rightraising funds this time around.
(13:30):
It might be, if you're expecteda market cooling, which we're
feeling now here I would putwork into finding some money to
to take advantage of that.
Joey Romero (13:40):
One, of the things you know, I, I've heard a lot of
club owners and just investorsin general, is, is knowing your
numbers, staying in your BuyBox, and being honest with
yourself. Because you know it'swhen you go outside of that is
when you get in trouble, you getyourself hurt.
Dan Redig (13:59):
Right. 100% FOMO is a thing. Yeah, every time, right.
Joey Romero (14:05):
Yes. All right.
What do you think the outlookfor the rest of the year is?
It's still just up in the air,because nobody can figure out,
you know, when it's gonna go oneway or the other or what? How do
you think the rest of 2025, willend?
Lisa Hoegler (14:19):
I personally gotta be really slow all year. I think
it's going to be very, veryslow. And I think because of the
slowness, we're going to see alot of opportunity. If you're
positioned right, if you'refamiliar with doing creative
financing, if you have capitalsources, you're going to have no
problem buying I give peoplekind of an antidote. It's just
(14:42):
good to kind of compare. I'm ona whole bunch of wholesalers
lists and whatnot for a varietyof different kind of properties,
and where I used to get maybe, Iwould say maybe five or six a
week. Right now, I'm currentlygetting no less than 50 a week.
So the volume. This ticked upconsiderably, none. They're not
deals. They're not things that Iwould rush out to to buy.
Joey Romero (15:05):
Situations, their situations?
Lisa Hoegler (15:07):
Yeah, yeah. But what, very time I ask the
question, 'what's going on?
What's going on?' We know whatI'm asking the wholesalers, what
the situation is. It's peopleare very, we've been in such a
seller's market for so long,sellers are very impatient, and
so they're saying, oh my gosh,I've been listed for 30 days. I
(15:27):
don't have an offer. No one'scoming to my open houses. I've
got to sell. I'm desperate, andso I'm seeing the desperation
tick up considerably, eventhough we don't necessarily have
any other factors in the marketthat is...
Joey Romero (15:42):
...been spoiled right?
Lisa Hoegler (15:44):
...right now.
It's, it's literally aperception thing, and that that,
that desperation is superpalpable right now. So I think
we're going to continue to seethat as days on market goes up.
As you know it, the the marketsoftens. I don't know what's
going to happen with liquidityas the year goes on? I gotta
assume that lending standardsare going to tighten, and then
(16:05):
that's going to add to thatperception. But I think the
seller's eagerness to get out isdefinitely going to do a lot to
push the market down.
Joey Romero (16:18):
Larry, you were going to start talking about how
you thought 2025 would end.
Larry French (16:24):
I'm with you, Lisa. I don't see big changes. I
don't see any reasons for bigchanges or swings in the market,
just kind of floundering around,slopping around. Hopefully the
current administration won'tprint a bunch more money, like
the last you know, we've beendoing for the last 10 years.
That'll just add more moneychasing dumb deals and support
(16:45):
prices we don't. I don't thinkwe need lower interest rates on
conventional stuff. I think themarket needs to adjust to it.
That would be healthier for thecountry if prices adjusted to
six and a half 7% you know, andthey're making their way there.
Joey Romero (16:57):
Which is the median, if you look at it over
the last five years.
Dan Redig (17:00):
Where it should be.
Larry French (17:02):
Yes. So hopefully that continues. I believe we're
kind of slowly tumbling thatway, you know. Hopefully that
continues on. I would say I keepan eye. You want to keep an eye.
I like to keep an eye on outliermarkets that I feel will feel
pain earlier than more. Yeah,desirable markets where some of
(17:23):
us might you know where we workmore so, for instance, I
mentioned Yucca Valley, theyYucca Valley felt much pain
earlier and harder during 2009,10, 11, 12, than the Coachella
Valley, and a whole lot earlierand harder than Corona and
Orange County and Yorba Linda,and, you know, in Mission Viejo.
(17:44):
And as you get closer to thecoast, other areas that have
similar characteristics. Is likeAdelanto in Apple Valley. You
keep an eye if those if you'restarting to see 40% off in Apple
Valley compared to just 18months ago. There's mean either
coming or it's about to gethere, so I like to watch those
outlier markets too. Help giveme idea what's going on. The
(18:04):
other thing I'm cautious of isthat some of the houses I
bought, so I'm Yeah, and I wasfortunate enough to be able to
keep a lot of the houses that Ibought in 2009 1011, and I still
have them today. And I was, itwas very nervous buying, then
you would tell friends, I'm, youknow, you're buying real estate,
and they thought you didn't,you're insane. So I keep I like
(18:29):
people to hear what people arenot in our industry are saying,
right? And you can kind of get alittle bit of into that when you
see an article in a mainnewspaper, you know, the LA
Times or something, becausethose aren't people that are
like us down and doing it if thehomes that I purchased in '09
and 10 weren't even as good asthe deals I got in 10 and 11,
(18:50):
you know, 10, 11, and early 12.
So, that was a prolonged amountof stuff that needed to be
resold and fixed and bad debtcleared off. But I am a little
cautious of when I do see thefirst best signs of buying. I'm
going to still go a littlecautious for the first six
months, because I, there is alot of the people that come into
the club and then I speak tothey're all like, 'I'm waiting
(19:11):
for it to crash. I'm waiting forto crash. I got money', so I'm
going to let their money go inand buy a lot of that stuff at
the forefront...
Joey Romero (19:19):
You're going to wait for the the apple update,
not the first front.
Larry French (19:23):
There you go.
Thank you.
Joey Romero (19:26):
So Dan, what do you see for the rest of 2025?
Dan Redig (19:29):
You know, it's pretty murky, Joey, I would say that
political climate is veryunpredictable. We don't really
know what's going to happen. Andwithout getting too much further
into that wicket of fun. I thinkthings are going to be generally
kind of as is, you know, it's amuddle through. I don't think
(19:49):
we're going to see anything toocrazy. You know, there's the
pressure to get the Fed to lowerrates. I don't know if they'll
be successful, but I don't thinkthey can go that low, either.
We're not going to see 2, 3, 4,percent it, the market doesn't
justify it. So it's a modelthrough, you know, work your
deals carefully. Know whatyou're talking about. Stay in
(20:09):
your buy box. Make sure, youknow for sure the the exact
neighborhood and house type thatyou're going for. And you know,
it's because things are gettinghard to predict. Well,
Joey Romero (20:19):
One of the things that we're finding in Florida is
price ranges are affecteddifferently, you know, so in the
325, and lower you can, you cansell those all day long. You get
into just under, you know,700,000 that middle market is
(20:40):
just really rate sensitive andmarket sensitive overall. You
know, their investments are, youknow, taking a hit right now, so
they're kind of all putting apause, and then you get into
that 800 to 2 million, andthose, if you have the right
product, you know, you don't,there's plenty of buyers for
that. So it's, it's it's kind ofa weird time.
Lisa Hoegler (21:01):
I would say we're seeing a similar thing in the
dollar. If you've got a $2million plus property, you're
not having any problem sellingit. But if you go at the low
end, you're having trouble rightnow. So if people are in the
market right now, for if they'redoing flips, if they're trying
to wholesale things like that,I'd stay away from the low end
(21:23):
stuff. I think there's stilldefinitely a market for that
middle and upper tier. But I'mnot seeing it. I'm seeing I'm
seeing a lot of struggle in thatlow end of the market.
Joey Romero (21:33):
You guys getting the same thing.
Larry French (21:35):
Two and a half million in upsells easily around
here, and then 350, and lower,which is our lowest, lowest
stuff. Maybe, Coachella, maybe,you know, down by the thermal
places like that, those sell.
We're having a little moretrouble in the middle, actually,
is where we're seeing that stuffsit. That would be prices range
from five to seven.
Joey Romero (21:56):
Dan?
Dan Redig (21:56):
Somewhat similar.
Yeah. The the middle has beenmoving. So we're seeing a lot of
folks, you know, San Diego alittle too expensive, so there's
a lot of pressure to movetowards north county. We're
seeing a lot more pressure anddistance and Marcos, you know, I
used to be able to go up thereand look for a short term
rental, you know, easily five
Joey Romero (22:15):
Well, there are two more questions, as we're
bedroom under a mill, even 800less than a year ago. And now
they're around a mill, one, one,very quickly. So it's San
Diego's feeling that pressure,and there are people trying to
do something about it.
wrapping up, we've almost beenat this for now. So I want to
(22:37):
ask each one of you. So I'm,Larry. I'll start with you. I'm
brand new to investing. Neverbeen to a club meeting, and I
show up. What is the advice thatyou give me?
Larry French (22:48):
Listen and ask a lot of questions, and then don't
be nervous and afraid to callthe folks that are that you got
a good, that you like theiranswer. So some of the folks
that I've seen do the best thathave come through our clubs, you
know, actually come fromnothing. I mean, one guy was
(23:09):
literally a gardener that wouldclimb palm trees and fell out of
a palm tree and in the hospital,when his brokes back and the
hospital, he saw infomercialsabout real estate investing.
Well, he's like, I don't havethe money to do have the money
to do that. He's, you know,immigrant parents. His dad's a
gardener, and he walked in ourdoor and just started attending
(23:30):
the club for no cost. He wouldcall me all the time, and I
loved helping the guy, and Iwould point him to but he had
the guts to pick up the phoneand call So, Joey, if you're
brand new and coming in, I'dsay, ask questions and don't
hesitate to keep reaching out topeople. If they're bugging you,
they're going to tell you you'rebugging me, but get what you
need, fight for you and for yourfamily to learn do how to do
(23:53):
this.
Joey Romero (23:53):
Awesome. Lisa, all right, first day in LA South
REIA, what are you telling me?
Lisa Hoegler (23:57):
I would say the same thing you just said, and I
would say, especially the peoplewho are here with the clubs
we're here to help. I've nevermet a club owner that genuinely
is not there to help theirmembers and one of their
members, possibly to avoid someof the same pitfalls they fell
into, right? Because if they'resuccessful, we're all we're all
(24:17):
successful, right? All boatsrides together. So I want to see
nothing more than my memberssuccess. One of the things I
would say that saddens me mostabout being a club leader, is
that oftentimes you've builtrapport with your members for so
long, so many years, you'vetaught them, you've been there
(24:38):
for them, and then they go on,they do a deal, screw it up, and
then they come back after thefact and tell you, Oh my gosh,
can you help clean this up? Andthat's so infuriating to me as a
Club member, because we couldhave helped you avoid it in the
first place. So I wouldencourage people who are brand
new, get in there and learn. Askquestions, but take action,
(25:01):
because the best learning youwill ever have is if you take
action, but don't do it alone.
We're there to help you andsupport you so that you don't
make a stupid mistake, and wewant to make sure that you
succeed, especially in yourfirst deal, so that you can go
on to the next one and the nextone and the next one.
Joey Romero (25:19):
Nice. All right.
Dan, I met SDCIA For the veryfirst time. I'm brand new. What
do you tell me?
The what I'm finding is the mostsuccessful are the ones that
Dan Redig (25:24):
I'm going to tell you to talk to people, see what
they're doing today. What arethe most common strategies that
are being deployed, right,successfully, even if you're
especially if you're in thelocal market in our area, right?
But then don't pick one thatseems like it's exciting or
fancy or where they're makingthe most money. Pick something
that resonates with yourpersonality and your skills,
right? I know a lot of peoplewho walk into this who have no
(25:46):
business experience, they'venever made an offer anything
other than a car maybe, and theydon't really know how to get
through the wickets and make itwork. So there's different
strategies, you know, if youdon't know hospitality, maybe
don't do hotels or short termrental, right? So get with
somebody mentorship and learnthose things. So yeah, pick
something that suits yourpersonality that you can really
(26:06):
deliver on, that works with theskills you have now. So you can
get moving. You can changelater. It's fine, right? Pivot,
find a way to stay in the game.
but then, and then, yeah, andthen, but then get to work. Do
the work, even if you don't knowwhat to do, do something every
day or any day you can, youknow, you never know how it's
going to go. I think everybodyhere and anybody reinvesting
would agree that you're going totry 1000 things, and two of them
Yes, just keep trying things.
Take action all the time. Makeare going to work, right? So
(26:27):
just get at it. Do the work.
offers, I tell them to makeoffers, right?
Larry French (26:40):
You have to stay tenacious. You have to not make
it otherwise.
Joey Romero (26:41):
All right, Dan, I'll let you lead this. Final
question is, how does somebodyget connected with SDCIA? When
is your meeting? Just tell usall, everybody how they can
start going to SDCIA.
Dan Redig (26:58):
You got it So our website is sdcia.com it's a
wealth of information. Go there.
Check out the calendar. Look atthe classes and stuff that are
coming up. Check out oursponsors, and then come see us.
The easy ones are the second
Tuesday of every month at 4 (27:11):
30 when our networking starts for
the main monthly meeting. Andthen the last Wednesday of every
month we have a beer night. Wemeet at Novo Brewing in Mission
Valley, it's a free event. Justcome on, come meet us and get
your feet wet. Let's go.
Joey Romero (27:25):
Awesome. Larry, how does somebody attend your lunch?
Larry French (27:30):
Yeah, so we're the third Wednesday of every month,
and the easiest way to find usand put a little reservation in
to let us know how many seats totell the restaurant to sit out
is to go to the acronym for theclub. So the club name is
Coachella Valley Real EstateInvestors Association. So,
(27:51):
cvreia.com.
Joey Romero (27:55):
Lisa, how does somebody involved?
Lisa Hoegler (27:57):
So we also have a website. It's actually being
worked on right now, but it'slasalesreia.com and we are
meeting the second Monday of themonth where we are new for
format online is actually tostart at six o'clock. Between
six and seven, we have aneducational segment, and then
(28:18):
our club meeting starts at seveno'clock. So for people who just
want to attend that particulartopic, they can come from six to
seven, and then our club meetingstarts at seven, and it goes
until nine o'clock with ourfeatured speaker, or if it's a
topic we're discussinginternally, best way for people
to get connected is by sendingan Email, actually, to
(28:39):
info@lasouthreia.com, and youcan do that from our website or
just i-n-f-o@lasouthr-e-i-a.com,we'll add you to our list, and
then we'll make sure that you'reaware of all the events that are
coming out and how you can getregistered for them.
Joey Romero (28:59):
Well, I can't thank you guys enough for jumping on
with our show. So everybody outthere, we have always been
partnered with clubs that were,we feel that you can trust as an
investor, obviously, do yourdiligence. You know, that's
probably the first thing that Iremember from going to all the
clubs with Bruce. Is the firstslide is, hey, remember, you got
(29:22):
you're responsible for doingyour own diligence, whatever.
But these, these are telling youto go to these clubs. And we're
highlighting these clubs thatthat we trust, and we would
never speak at a club that wedidn't trust. So, that's why I'm
having these folks oneventually, I like to highlight
more. But we started out withthe ones that you can go ahead
and trust that they're not outthere to steal your deals.
(29:45):
They're not there to figure outa way how to make money on you.
These people are truly, truly init to help everybody, because
when we help everybody else getwhat they want, we end up
getting what we want too.
Dan Redig (29:56):
So absolutely.
Joey Romero (29:58):
Thank you so much, everybody. I really. Appreciate
guys jumping on and we'll seeyou guys next time.
Lisa Hoegler (30:03):
Thank you. Joey.
Dan Redig (30:04):
Thanks, Joey.
Narrator (30:06):
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 (30:25):
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.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.