Growth Will Continue In The Lowcountry

Growth Will Continue In The Lowcountry

Episode Transcript

(00:00):
The following is a paid commercial programon ninety four three WSC. The views
expressed by the host of this programdo not necessarily reflect the views of iHeartMedia
ninety four three WSC it's advertiser,sponsors or management. This is the Real
Estate Show with Rick Willis. Ishow about home sales, mortgage issues,
investing at everything about the American dreamand I mean the way that's someone who

(00:23):
enjoys radio and really enjoys your program. And now The Real Estate Show with
Rick Willis on ninety four three tellingyou SC. Hello, Charleston, Welcome,
Welcome to the Rick Willis Real EstateShow. I'm alive, I'm well,
and we're in for an hour showtoday where we talk about real estate.

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Now, real estate could be residentialproperty that you live in or are
selling, could be property that you'regoing to be running out to other people.
There's something called and spent property,and there's something called income producing property,
not to be confused with each other. There's commercial property, there's vacant

(01:08):
land, and we can talk aboutany of that or all of that.
What would you like to hear Andfolks, I'm always open to have you
reach out to me to let meknow what you would like me to speak
on. There was a time yearsago when we started this show that it
was a call in talk radio show, going back twenty years, the pandemic

(01:33):
change that I am currently prerecording thisshow during the week that you hear on
Saturday from noon to one or Sundaymorning from nine to ten am, So
you can't call me live, butyou can certainly reach out to me,
and I'll give you several opportunities duringthe show to know how to find me

(01:53):
by way of phone or text oremail, So listen for that if you'd
like to have me speak on aparticular topic. Well, for those of
you that have been listening to theshow for more than one time, you
probably recall that I start the showby letting you know the condition of the

(02:14):
market. And my best barometer ofthe condition of the market is to examine
the amount of active listings, listingsthat are out there for sale unsold that
don't have contracts on them, andthat tells me a lot about where we
are in which direction the market isheading. And we've been reasonably stable for

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the last number of months, andas of this week, we're still stable.
As of this morning, when I'mrecording this show two thousand, three
hundred and forty three active residential listings. That's about forty or fifty less than
we had last week when we didthe show, So I would call that

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stable. Now. Normally in thespring summer months we see the amount of
active listings dramatically go up. Andthat's because people tend to relocate that have
children to make sure they get intoa particular school system, and also just

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the fact that the move itself forpeople that seems to be easier and during
the warmer months than the colder months. But here we are pretty steady.
What does that mean translated steady,Well, it means there's still a shortage
of active listings. Said differently,if we had twice as many listings out

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there, there'd be more sales.I have a number of buyers that are
seeking to purchase a property that theright one hasn't come on the market yet,
and there are certain people that willcompromise. They want to buy now,
and others will say no, I'mgoing to wait until I find the
right property now. The good newsand the bad news of that philosophy is

(04:11):
this, if you keep waiting forthe ideal property to come along. As
in ticks, every box that youwant is you might be waiting for a
while. I mean, even ina marketplace that has more listings. So
certainly there are certain I have tohave and then there's I'd like to have
and I hope I could have.But what really is important is to recognize

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the fact that the prices are stillincreasing, and they're increasing because there is
a shortage of listings and people arepaying the price good many people paying the
asking price that people want. Andyes there are still people paying over the

(04:57):
asking price of what the seller wants. So if you're going to buy,
don't be too picky, you know, make sure you're in the marketplace,
and if you have to alter alittle bit what you're looking for to get
the monthly payment that you want orto get all the features that you want.
You see, the secret of realestate is that as young as possible,

(05:23):
as early in your career as possible, buy something. And even though
the price and the respective monthly paymentsmight seem quote high to you. If
you have a retirement account, andwhat you need to do is to cut
back on what you put into yourretirement account and have those same dollars go

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towards a monthly mortgage payment, thatmight be a wise decision today, any
money into the stock market by wayof four oh one k iras is still
volatile, and you can't judge thestock market if you will, by any
given week, or given month,or even a three month period. You've

(06:06):
got to look at the long termpicture of it. You would prefer to
have your money, in my opinion, in America's most solid, stable,
safest investment possible, and that's realestate. And for those of you that
don't own a home, let thatbe your first home. And by the

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way, just for the record,you know if it's the monthly payments that
are preventing you from buying what youreally want. A couple of ideas for
you, and I've mentioned this onprevious shows, but again we have a
different audience on different times and wantto make sure you hear this. When

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it comes to monthly payments, I'mgoing to give you some ways to have
them become be less than what youmight think. Number One, there's something
called a buy down. Now,a buy down is where the interest rate
and there's two different types of buydowns. Buy down the interest rate,

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Yeah, you can pay money upfront. The seller can pay money up
front to buy the interest rate down. For example, let's suppose the market
rate of what you wanted to buywas six and a half percent, but
the seller or you are willing topay some what are called discount points up

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front, and one point equals onepercent of the loan amount. So,
for example, you want to buya four hundred thousand dollars property and you
might normally want to put five percentdown payment twenty thousand down, Well,

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that would be three hundred and eightythousand dollars first mortgage. Well, what
if you paid an additional point onepoint equals one percent of the loan amount
three eight hundred dollars. Is itpossible that that could buy the interest rate
down below that six and a halfto six and a quarter six and an

(08:22):
eighth six percent. The answer isyes. And then there are temporary buy
downs. Suppose you believe that theinterest rates are going to decline on a
thirty year fixed rate loan. They'lldecline sometime in the next twelve months,
eighteen months, two years. Maybeyou ask the seller to pay some points

(08:48):
on your behalf and you can getwhat is called a two one buy down
or a three two one buy down. Now you say, what's that mean.
Well, suppose that in the firstyear instead of six and a half
that you could get four and ahalf percent interest rate a two one by
down, and then second year it'sgoing to be one percent less than the

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thirty year fixed rates, so insteadof four and a half, it would
be five and a half, andthen settle in at a six and a
half percent rate. But if yourbelief is that in the next two years
the interest rates are going to drop, then you're in a perfect position to
refinance the property that you bought withsome points up front, perhaps paid by

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the seller. You might pay some, the seller might pay some, and
you've gotten in for the first coupleof years at a lower interest rate rather
than sitting on the sidelines waiting forthe interest rates to decline. So that's
one way to get a below marketrate, and that in turn would give

(09:58):
you a lower monthly payment. Anotherway to have a lower monthly payment is
take what you think you want tobuy but have been avoiding because of the
monthly payments and drop down in pricepoint by fifty thousand, one hundred thousand.
I know it's not the ideal home. Look at it as a starter
home. Maybe you should look atit as a home that I'm going to

(10:22):
stay in for a year and aday or a year and a half,
for two years again until those ratescome down. I'm going to refinance the
property. I'm going to contact RickWillis and have him rent the property and
manage the property, and that's goingto be a future retirement income for myself.
That's another way. And we'll talkabout a few others when we come

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back from the break. But thisis Rick Willis. I'm a practicing realtor.
How can I help you? Reachout to me eight four three three
two seven three zero one seven.Email me are Willis Team the letter R
Willis WI L l I S Teamat gmail dot com. Please visit my

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website or Rickwillis dot com and readmy bio and access multiple lists directly from
my website. Folks will be rightback after this break. If you have
real estate questions or if you needa market analysis on your property, call
Rick right now at eight four threethree two seven three zero one seven,
or you can email them at Rickat Rickwillis dot com. Check out Rick's

(11:30):
bio and access all properties on theMLS at Rickwillis dot com. Welcome back,
Welcome back, Charleston, Welcome backto the second segment of today's Rickwillis
Real Estate Show. Well, duringthe first segment, we talked about the
fact that there's still a shortage ofactive listings. Prices are continuing continuing to

(11:56):
rise and go up, and Idon't see that stopping. It's going to
continue. Why because there's more demandthan there is supply, combination of people
retiring here, people relocating here forjobs, younger people who have grown up
and have lived here for a while, or getting into the workforce getting jobs

(12:20):
and looking to buy instead of rent. So the growth will continue here in
the Low Country. And as thingscontinue to grow and the inventory remains low,
prices will continue to rise. AndI do not see that stopping or

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reversing. So we're talking about whenyou think the monthly payment's higher than what
you want to pay, you wantto get in the marketplace anyway, if
that means reducing what you put intoyour retirement account, getting a buy down
of the interest rate, which wetalk about last segment, or another way

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of getting lower payments, as wementioned, is to buy something at a
lower price point. If you've gotto reduce your ideal price point fifty to
one hundred thousand dollars, well,then do what you need to do.
And by the way, when itcomes to quote lowering the price point of
what you want, that could simplymean changing geographical locations within the Greater Charleston

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area. I mean, you mightlike to live in Mount Pleasant, and
when you look at what the pricetag is in down payment and monthly payments
to live in Mount Pleasant, youmight say, you know what, that's
a little steep and I don't knowthat i'd be comfortable with that. Well,
okay, change locations. Now,remember something you need to get started.

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You need to get going. We'retalking about building equity for your next
property. Your next property, yournext property. Your income will continue to
rise, but get in the game. Start getting some principle paid down instead
of rent. That will continue torise. And maybe you'll go across the

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the Wando River. Maybe you'll goto the Kanhoy Peninsula where the prices are
a little bit lower but still easyaccess to Mount Pleasant. Maybe you go
to hand a hand up north renta little bit. Maybe you'll go to
some really nice sections of Ladson orNorth Charleston. Maybe you'll end up in

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Summerville or points beyond Monk's Corner.The bottom line is you can go to
different areas by the same exact housewith the same square footage in a different
location for as much as fifty percentless than other locations. So do what
you've got to do to get inthe game called own a house. You

(15:03):
can have a buy down. Youcan buy a lower price point. We
just talked to you about lowering theprice point that you want to be in.
Buy something that you can plan onconverting to an investment property that by
plan, not by accident. Soyou come to a guy like Rick Willis
and say, if we were goingto buy our first house with the understanding

(15:26):
that we're only going to be init a year or two, and then
we're going to be able to buywhere we really want, where it would
be a good property or a goodlocation to buy, and type of property
where we could turn it over toyou to rent and manage and you have
a good rental income. We canhave that conversation. Now, there are

(15:48):
some people that are even choosing tomove outside of the immediate Charleston location.
I help someone buy a couple ofweeks ago a property in a town called
Utahville. You ever heard of Utahville. Well, it's up by the lakes.
And when I say the lakes,we've got Lake Marion and Lake Moultrie.

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It's just into Orangeburg County from BerkeleyCounty. But again, this particular
individual bought a very nice home overtwo thousand square feet for just a little
over one hundred dollars a square footsame home in a different location would easily
be twice that. So again,a different location within the greater Charleston area

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or a greater another location, adifferent location, even if you have to
stretch out a little bit Cottageville,Ravenel, walter Borough, you'll find that
the prices drop as you go awayfrom the center of Charleston, or it
changed types of housing. You know. I met with somebody last weekend.

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They were living in Somerville. Ihappened to meet them. We had breakfast
at the Eggs one nine nine thereat Cracker Barrel, and we talked about
housing types, choices, monthly payments, cash they had available. And I
said, well, what about livingin a half of a duplex and running

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the other half out it's a higherprice point for you, but you'll have
the income coming in from the otherhalf of the property. Now, the
typical person, if I bring uplive in half of a duplex, is
going to decline that real quick.These folks I was meeting with said we
live in half of a duplex.And then they said, are you referring

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to the one that's on Blank Street? And I said, yes, I
am, I said, we liveon that street. What a coincidence?
Huh. But again, a multifamily property maybe two units, maybe three
units, maybe four, you livein one, you have rental income coming
in from the others. Be therea year or two, build up some

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equity, the property goes up invalue, you move out to what you
really want, rent out the unitthat you were in, and you've got
a built in retirement program for yourselfin a certain number of years. So
those are some ways that you cantake the price of property and the monthly
payment of property and effectively live alittle cheaper than you would if you just

(18:32):
went out and bought a property offMLS. And I'd love to be able
to help you. You see,I do this radio show one hour a
week, and when I'm not doingthis radio show. I am working with
people to buy. I'm working withpeople to sell. So if you're in
that situation and you're listening to meright now and you're thinking of buying,

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thinking of selling, you might wantto reach out to the guide. It's
probably got more experience in this businessthan anybody in the greater Charleston area.
That would be a guy named RickWillis. And if you can't find him
or remember his phone number or email, you just google my name, Rick
Willis, and I promise you'll findme. Okay. I had a gentleman

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this week call me and he saidhe had heard me talking about using a
retirement account to buy real estate.And his number one concern was that he
said he was doing some research onlineabout self directed retirement accounts and he was
concerned that he uses somebody that isreputable, that isn't a fraud, that

(19:42):
he would wire his money to somebodyand never see it again. Well,
I told him that I knew ofa company that other people had used that
I had recommended. They found thatthey had great experiences and they had not
only put their money with this Custodianself directed at Custodian, but they also

(20:04):
had bought real estate successfully, sobetween the clients that I had referred there
in my own recommendation. He emailedme this morning and said, thanks for
the referral. I have already talkedto them on the phone and I'll be
using them for my self directed accountnow. Although I've talked about it many

(20:26):
times before, I'm going to justrepeat it again. You want to have
your retirement money where you get todecide what you do with it, not
in a retirement account where somebody elsedecides where your money is invested. You

(20:47):
see where you have your money now, and who the custodian is doesn't email
you, call you, or textyou and ask you where would you like
me to invest your money. Obviouslythey're holding themselves that as the expert and
they know more than you. Well, maybe they do, maybe they don't.
But if you have your funds ina self directed retirement account, you

(21:11):
have the choice of buying mutual funds. You have the choice of lending money
out to others secured by a mortgage. You have the choice of investing in
real estate. You have the choiceof buying gold or silver, and dozens
of other things. But you getto make the decision. Folks, if

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you have a retirement account and it'snot a self directed account, you want
to reach out to me and havea more in depth conversation about this so
I can make sure you put yourmoney in a safer place than you have
it now. We are in themost volatile of economic times. You want
your money in hard assets, notpaper assets. Reach out to me or

(21:57):
Rick Willis for anything to do withthe real estate call me eight four three
three two seven three zero one seven. Make sure you email me are Willis
Team at gmail dot com. That'sthe letter R Willis Team at gmail dot

(22:18):
com, and of course you canalways find me by way of my website,
Rickwillis dot com. Folks will beright back after this break. If
you have real estate questions or ifyou need a market analysis on your property,
call Rick right now at eight fourthree three two seven three zero one
seven, or you can email themat Rick at Rickwillis dot com. Check
out Rick's bio and access all propertieson the MLS at Rickwillis dot com.

(22:45):
Welcome back, Welcome back to Charleston. Welcome back to the third segment of
today's Rickwillis Real Estate Show. Well, we left off on the last segment,
I was mentioning you want to makesure you have your retirement account in
a self directed retirement account, andI want to just give you a few

(23:11):
other explanations of that so that you'reclear about what that means. You see,
if you work for a company thatyou have an account with for four
oh one K, or you havean IRA somewhere or other retirement accounts,

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there's what is called a custodian ofyour account that determines where your money goes.
And what you'll discover if you talkto enough people over enough decades,
is when the market declines overall orselectively, you know you've got different places

(23:55):
that you can put your funds.There are high risk, high reward places
to put your money. And mydad used to say, there's an old
maide stocks where it's very conservative,doesn't fluctuate much. You get to decide
what general type of account you wantyour money to be in. But at

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the end of the day, whenthere's a stock market decline, pretty much
all of the indexes fall. Now, we've seen in the last a couple
of years a disproportionate amount of growthor decline, whether it's been industrial stocks

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or high tech stocks the sector ofthe market. Some of them have declined
more and some of them have reboundedmore. But at the end of the
day, you have your money ina paper asset that somebody else is determining
your future. Now, when Isay you want to change your custodians to

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a self directed account, that doesn'tmean that you still can't buy mutual funds.
Yeah, that's where your money wasbeing put anyway, But it just
opens up more options for you,meaning instead of you having no control of
what your money purchases, you nowhave total control within certain large boundaries of

(25:26):
what your money is invested in.And don't confuse moving your money to a
self directed account as taking your moneyout of your account and paying a penalty.
There is no penalty for what Iam speaking of. You simply change
custodians from a third party to you. You get to be the one.

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Now, what I know for someof you is that scares you to death.
You mean, like I am,you're telling me to manage my own
retirement account. Yeah I am.But instead of with the guidance of the
people that buy the mutual funds foryou and thousands of other people, where

(26:14):
you're just a number you and Iwill get together, put our heads together
and talk about how you can geta higher rate of return safer, And
the key is safer. You see, if you and I were talking about
what to do with your retirement account, and we were in a private meeting

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with you, you and your spouse, you and your significant other, and
you told me, okay, I'vegot four hundred thousand dollars in my retirement
account, or as other people havetold me, a million dollars in their
account, or two million dollars intheir account, depending upon the amount of

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money you have in your account,we would come up with a very specific,
safe strategy for you to get apredictably, keyword, predictably higher rate
of return than you're going to getin the stock market, and safer rate
of return and a lot more optionsof what you can do with that retirement

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account. For example, there's twoplaces that I suggest people that have retirement
accounts put their money. And you'veheard this before if you've been a steady
listener of this show. One placeis real estate. Now a number of
you listening to me right now haveenough money in your retirement account that you

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have the ability to pay cash fora property cash, and you don't worry
about what the interest rate is ifyou've got enough money to pay cash.
And when I say enough money topay cash, I'm speaking about probably starting
with a minimum of a hundred thousand, if you've got to access to one

(28:15):
hundred thousand or more in a retirementaccount. I promise you there's a place
that we collectively, you and me, can decide to put your money in
a property that you have no mortgageon. Yes, you have to pay
taxes, an insurance, and there'ssome upkeep in properties, and you can

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have somebody else manage it for you. You don't have to manage it.
You never have to deal with atenant ever or any property issues ever.
And that's going to give you anywherefrom a four to a six percent or
possibly higher cash return, maybe eveneight or ten percent cash return cash,

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and that cash doesn't go to you. Remember this is your retirement account.
That money goes into your retirement account. So you're getting four or six or
eight or ten percent return on yourproperty that you own that goes back into
your account tax free. No taxis paid on it. And it occurs

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year after year after year after yearafter year, and it compounds and before
you know it, when you areready to retire, you already started in
this case with a property that's paidfor. Well, now you've got a
property that's paid for that's giving youmore income. Because over time income producing

(29:48):
real estate, the rents increase andthe value has increased. And what if
this was a four oh one kexcuse me, what if this was a
roth IRA where you've already paid thetaxes and now you become of an age
where you can take money out taxfree and you own ten houses tax free,

(30:18):
mortgage free. You see, thegentleman that called me this week said
he owned seven houses, that askedme where and this was just his normal
assets, and he asked me aboutwhere he should set up his retirement account

(30:41):
for his IRA, and I gavehim the information. So now, in
addition to the homes that he hasowned that he started years ago owning that
are given him his income, he'sretired and his retirement income is from his
seven houses that he doesn't have amortgage on. You see, this gentleman

(31:03):
will sleep really well at night becausehis money is not in the stock market.
You see, if your money's inthe stock market, and there's a
market decline. How much income areyou receiving while there's a stock market decline?
Yeah, you've got way too muchmoney in the stock market, but

(31:25):
you're not getting any income. Now, Am I saying to you that there's
never a real estate market decline?Well, let's put it this way.
If you had a chart for thelast fifty years of real estate and it's
ups and downs, and the stockmarket and it's ups and downs, where

(31:47):
will you find more ups and downson the stock market side or the real
estate side. You're right, it'llbe on the stock market side. And
if you look at the length oftime that the stock market is in a
declining position or down compared to thetime frame that real estate is down,

(32:09):
where will it be longer? You'recorrect, again, in the stock market,
not in real estate. Said differently, real estate is more stable and
more steady than the stock market.And you think you have to do something
if you own real estate. Whereif you just have your money in the

(32:31):
stock market, Well, somebody elsewill take care of it for you.
Yeah, they will, but notvery well. And even if they do
well, in the market is ina declining position or stays down, You're
not benefiting from it. You see, even when there is a price decline
in the real estate market, assumingthat what you own is rented, it's

(32:54):
not vacant land sitting dormant. Assumingthat what you own is as income,
you have income. From my perspective, the safest place to have your money
is real estate, not the stockmarket. And if you move your money
to a self directed four oh onek a self directed IRA, you're in

(33:15):
the best of all positions because ifyou want to continue to have mutual funds,
you can, and if you wantto have real estate you can.
And the other place that I recommendto people to have money invested if they
have a self directed IRA are privatemortgages. You see, when interest rates

(33:38):
rise to the level that they arenow your regular normal bank mortgage rates in
the sixes and sevens, it createsan opportunity for you to be a private
lender to people that are not qualifiedor don't choose to have bank financing,

(33:59):
and you're going to get higher ratethan what they would get if they went
to the bank. So you're goingto get eight percent, nine percent,
ten percent, eleven, twelve percent, sometimes even more by you being the
lender private lender for someone buying realestate, but you don't want your money
out there for thirty years, Soyou're going to lend your money maybe for

(34:22):
three to five years maximum, andoftentimes it's anywhere from one to two years.
You are a private lender, youare secured by a mortgage. The
attorney of your choice does a titlesearched to make sure there's no leans on
the property. And you're really notconcerned so much really for the credit rating

(34:49):
or income of the borrower, becauseyour private loans have enough equity in the
property that should this private lender defewe're talking about worst case scenario here,
should the private lender default, there'senough equity on top of what you have
loaned that you would get the propertyback if you needed to foreclose, So

(35:14):
you win either way. So I'mencouraging all of you listening that have any
kind of retirement account to set upa four oh one K or an IRA
and a self directed account. AndI'm expecting my phone to ring this week
with you all calling me asking memore information about that. Call me directly.

(35:34):
Rick Willis eight four three three twoseven three zero one seven my email
address, Our Willis team at gmaildot com, the letter R Willis WI
L L I S team, ourWillis team at gmail dot com. Folks,
will be right back for our finalsegment after this break. If you

(35:58):
have real estate question or if youneed a market analysis on your property,
call Rick right now at eight fourthree three two seven three zero one seven,
or you can email them at Rickat Rickwillis dot com. Check out
Rick's bio and access all properties onthe MLS at Rickwillis dot com. Welcome
back, Welcome back, Charleston,Welcome back to the final segment of today's

(36:23):
Rickwillis Real Estate Show. Well,folks, we've talked about the condition of
the market. The status of themarket still a shortage of active listings.
It's still a seller's market. Eventhough you may not want to pay the
prices and have the interest rate whereit is with the monthly payments. Buy

(36:44):
something anyway, probably a better investmentand having your money in the bank and
a better investment than having it inthe stock market. So if you're a
person looking to live in a home, bite the bullet and get in something
in a different location, something it'scheaper, and become a part of the
home ownership group. Then we talkedabout using money that's in your retirement account

(37:12):
for investing in real estate, whetherit's money that you have in bank accounts
now, a brokerage account, orwhatever. If it's in a four oh
one, Kira, convert that toa tangible asset. In fact, I've
got in big letters on my noteshere. Trade paper assets for tangible assets.

(37:39):
And you want to have tangible assetsthat bring you income. You see,
there's something called an investment property andthere's something called an income property.
You don't just arbitrarily go out andbuy a property to rent and call it

(37:59):
a good invest because you say,I believe it will increase in value.
That's not what you do. Asmart investor in real estate looks for income,
and that's the number one thing thatyou're looking for is income. And
oh, by the way, ifyou buy the right income producing property,

(38:21):
guess what's going to happen to itsvalue? Answer, it will go up.
You see. There are different typesof ways of appraising real estate.
One is called the market approach,one is called the reproduction approach, where
you look at what does it taketo reproduce a property, And then there's

(38:42):
the income approach to value. Soif you have an asset that's going to
bring you income, whether it's commercialproperty, or residential property or industrial property.
As that income increases, and therental market, by the way,

(39:04):
is also impacted by the law ofsupply and demand. So as the rental
income increases, if you own theright kind of property, the value is
also going to increase. So Isay, the best advice for you,
whether you're in your twenties, forties, or sixties or beyond, is to

(39:29):
convert and trade your paper assets fortangible assets. And by what can never
ever again be duplicated? What doesthat mean? By what can never be
duplicated? Well, today, ifa builder wanted to go out and build

(39:51):
a house, they've got to buyland, and they've got to get permits,
they have to pay Impact Act fees, they have to put infrastructure in
sewer, water, roads, thecost of materials, labor, profit,

(40:13):
there's a minimum cost for building anythingtoday, whether it's a commercial property or
a residential But what if you couldgo into the marketplace and buy something that
can never be built again for thesame cost that you could buy it for

(40:37):
today? What if what if youcould buy a property for two hundred and
fifty thousand that if it were goingto be built again today, would cost
fifty to seventy five thousand dollars more. What if you bought a multi family

(41:04):
property, a two unit property,a three unit property, a four unit
property that is not even being builtanymore today for the most part, the
zoning and the cost of building smallmultifamily it makes it almost impossible to make
the numbers work if you're trying toduplicate it today. But what if you

(41:28):
go into the marketplace and you convertyour paper asset for a tangible asset called
real estate, and you buy somethingthat can never be duplicated, and it's
rented, You have income coming infrom it, and there's a whole lot
of people that would like to rentit because it's a lower rent than the

(41:51):
higher priced stuff that can be duplicatedagain, and the rents will continue to
go up, we assume, whichwill turn drive the prices up. And
you own an asset that is anecessity of life, food, clothing,

(42:15):
and shelter. Now, you don'thave to ask a financial advisor or google
the internet to understand that if you'rebuying something as an asset for your retirement,
that is a necessity of life.People have to have it, food,
clothing, shelter. I'm speaking ofshelter, and you can't ever at

(42:39):
a certain price point duplicate it.You can't buy something anymore There'll never be
any more of it. But thedemand will increase for what you own that
there'll never be anymore of. That'sa tangible asset that it doesn't really matter,

(43:00):
not really what happens in the biggerpicture called the economy, because that
tangible asset is still going to bethere. And even though in worst case
scenarios the rent may adjust. Rememberyou're buying something that there'll never be any

(43:24):
more of. There can't be anymore built if you buy at a certain
price point in a certain area,a certain type of property. And folks,
I know about such things. Solet me make a suggestion to you.
I'm going to suggest to you thatare listening, that you set up

(43:47):
a meeting for you and I,You and I and your spouse, you
and I and your kids, youand I and your parents. If that's
the case, and we have ameeting, and we have a meeting at
your home or for a cup ofcoffee, iced tea breakfast or lunch,

(44:13):
and we talk about your exact situation. Pretend for a moment that I am
a financial advisor that doesn't try totalk about annuities or mutual funds or any
other kind of Wall Street product.But I will speak with you about what's

(44:37):
possible with the assets that you have. Be that cash in the bank,
be that a life insurance policy thatyou have a lot of cash value in.
What is that? Do you haveannuities, do you have stocks?
Do you have a four oh onek and IRA or other retirement account?

(45:00):
Did you just receive an inheritance orabout to receive an inheritance. Let's talk
about your assets and how you couldbest reallocate those assets for safety and most
importantly for a lot of you listeningfor income that will never never stop,

(45:21):
income for life and beyond. Yousee, when you own the right kind
of real estate and somebody else canmanage it for you, find the tenants,
collect the rent, deposit money inyour account even when you're not alive.
That process can continue for your spouse, your kids, charity, church,

(45:45):
What is it you care about thatyou'd like to continue to fund forever?
Folks call me directly. Let's havea meeting let's have a conversation.
I am Rick Willis and you canreach me at eight four three two seven
three zero one seven. Please emailme R Willis Team at gmail dot com.

(46:06):
The letter R Willis w I Ll I S Team to e a
M. R Willis Team at gmaildot com. Visit my website learn about
me, my background, what I'vedone, and how I can help Rick
Willis dot com folks. I lookforward to hearing from you, and thanks
for listening today.