Duncan Duo 6-09-24

Episode Transcript

(00:00):
Happy Sunday, Tampa Bay. We'rewith you for another week here on the
Dunkin Duo Real Estate Show, likewe are every Sunday right here on WFLA
News to talk about the Tampa Bayreal estate market and everything going on in
Tampa Bay. When we aren't onair, make sure to follow us on
all of our socials. We areat the Dunkin Doubo, Twitter, Instagram,
YouTube, TikTok, Facebook, allof them at the Dunkin Do You

(00:22):
can also follow me Facebook or Instagrampersonally at the Andrew Duncan and we're always
here dropping knowledge about what is goingon in the real estate market in Tampa
Bay. If you're thinking about sellingyour home at some point in the future,
you want to have all of youroptions. It's much more complex to
sell home today. There's there's optionswhere you can just sell your home cash

(00:44):
to an investor. You know,you can put it on the market traditionally,
you can opt for our guaranteed saleprogram. No other real estate company
locally gives you all of your options. They want to point paint you into
one corner and say hey, wewant you know, you to accept our
cash offer, or we want tosell your home. Traditionally you don't want
to take a cash offer or somebodydoesn't do the guarantee programs that we do.

(01:04):
We give you all your options andyou get to pick the right path
with us so that you don't getstuck going down the wrong path. And
you can do all that. Atduncanduo dot com. You can get your
home value estimate, neighborhood report andknow everything going on in your neighborhood because
that's what matters most no matter whatyou see on the news, no matter
what you might read online, whatis happening in your neighborhood is the most

(01:27):
important thing when it applies to realestate, and the best place to find
that information is dunkandoo dot com.You get again, you get a monthly
value report, and you get thehuman element that you don't get on Zilo
realtor dot com at some of theother websites, where we actually have a
human that looks at your property,reaches out to you, tries to figure
out are there extra features or upgradesto your home that that other homes don't

(01:51):
have. Again at Duncan Duo dotcom. So I want to talk about
buyer's remorse for a minute. It'sinteresting because it was an article from Florida
Realtors this week that talks about whatbuyers regret after buying their home. And
I want to talk about this becauseyou know, on this show, having
done it for more than a decade, I want to make sure that you

(02:12):
don't make the same real estate mistakesthat other people make. So I talk
a lot of times about different thingsgoing on in the market that don't necessarily
apply to you know, my business. My show is I'm meant to be
an infomercial. It's meant to beeducational and give you tips, tools and
resources to help you navigate through realestate. So anyway, eighty two percent
of home buyers express regrets about theirrecent property purchase. The most common regret

(02:38):
is buying a home that requires toomuch maintenance. I can speak to that
personally because in the past I've boughtand lived in homes that I upgraded while
living in them, or that neededimprovements, or that I had to do
improvements on my own, not myexisting home, but prior homes. I've
had to deal with that, andI can tell you one of the things

(02:59):
that's frustrating, specially for anyone thatworks at a nine to five is you
know, you work Monday through Fridaynine to five, and you come home
and you want to enjoy your weekend. Well, when your home needs maintenance
or when your homes under renovation.You've now got a second job, and
your weekend went from relaxing and watchingsporting events and you know, hanging out
with your friends and watching some movies, to working all weekend on the home

(03:19):
maintenance that you know that your homeneeds, or the home repairs that you
knew your home needed when you boughtit. So I always advocate, especially
for first time home buyers that don'tunderstand not just the economic consequences of that,
but the psychological and emotional consequences ofhaving to go through a home renovation
because contractors rarely on time, rarelyunder budget, and rarely convenient. So

(03:42):
you're sacrificing that time that you getfor those projects. And I can tell
you more times than not, peopleto upgrade their home regret upgrading their home
while they live in it. Manyof them wish they just upgraded it and
sold it or sold it as isand went and bought a home that had
the features that they wanted. Sobuying a home that requires too much maintenance
or has too many repairs. Oneof the biggest regrets that people have when

(04:05):
they buy a home. You haveto know what you're getting into, and
way too many people underestimate that.Twenty eight percent of home buyers were shocked
at the cost and time needed tomaintain their property. One third of them
placed the blame on the cellar fornot being upfront about how much home maintenance
the home required. Now, that'sjust another way of saying that America doesn't

(04:26):
really accept a lot of personal responsibilityanymore because there's plenty of resources out there.
Let you know how much maintenance ahome needs. A property disclosure is
simply just what is wrong with thehome, not necessarily what needs to be
done to keep it operating. Secondmost common reason the home buyer side is
a basis for the regret is thehome that I meet all their needs and
house hunters get distracted by the homesfixtures and finishes while overlooking other key elements.

(04:51):
Survey respondents rated and updated kitchen,remodel, bathroom, and contemporary lightning
is the most important during their homesearch. These home features were rates of
much high than other operational aspects ofthe home the survey find. So esthetic
changes are what kind of wow abuyer. But those aren't the things that
end up being a lot of workor hassle. Those are things that can

(05:12):
be simply and easily repaired. Ifyou buy a home that has foundation issues
or bad electric system, or youknow, needs new windows, those are
things that are a little bit morecomplicated. Cosmetic fixes can mask problems that
may cause safety hazards and lead toexpensive repairs. A home with fresh interior
paint was something that buyers also wanted, but again not something that is really

(05:36):
hard to cure. So some tipsfrom home buyer that can keep some buyers
in line. Home inspections again superimportant. Too many people still pass on
them. Today, buyers can lookfor science to indicate property condition. House
centers should ask plenty of questions.One thing that I always recommend is that
during that home inspectral process, gettingquotes for the repairs that are mentioned in

(06:01):
the home inspection. A lot oftimes that can be confusing because buyers,
especially if they're not experienced, don'tknow when they see something listed and report
what the cost would be. Youcan certainly ask about maintenance costs, but
I want to be clear that maintenancecosts, insurance costs, utilities, they're
really not relevant in terms of whatthe prior seller deals with. And here's

(06:26):
what I mean by that. Theymay maintain a home in a different way,
or use it in a different way, or it may not receive as
much abuse as your home with alot of kids and animals. You know,
a couple, you know, amarried couple with no kids and no
animals is going to have a muchdifferent maintenance schedule than somebody with kids that
are going to break things. Withanimals, they are gonna you know,

(06:47):
have accidents and break things and chewthrough things. So whenever you ask a
seller for their cost of either insuranceor their maintenance costs at a lawn,
you have to understand you're going touse that property probably entirely differently than that
person, unless you're so similar tothat person. It can be misleading sometimes
when somebody says, oh, yeah, the house is super easy to maintain,

(07:09):
Well, that's a family. Youknow, it's a young couple that
eats out every night. They're notusing the you know, the fridge or
the range, they don't use thedishwasher to you know, find a flaw
or for it to break. Theydon't have animals to damage things, they
don't have children to damage things.So I want you to be clear that
when you ask the seller about maintenancecosts, it's really only relevant to you

(07:30):
having comparable use of the property asas that person does. Similar to insurance,
while if people say, oh,what's their insurance, well, they
may have a different risk colors.They may have a better credit profile,
they may not put down, theymay they may be comfortable with a higher
deductible. So comparing apples to orangesdoesn't work when it comes to understanding the
operating costs of a home. Checkingon the high use items super important.

(07:54):
Again. These are things like theroof, electric AC plumbing. Find out
the age of items. How oldare these things, the age of the
AC, the hvact, the roof. Look for smells. Unpleasant odors can
can sometimes mean to underlying problems canlead to bigger things down the road.
The orientation of the house, whetherit faces the sun during sunrise sunset,

(08:18):
that certainly can accomplish them things.And look beyond the property to see the
neighborhood amenities, things that are goingon in the neighborhood. How close to
home is to shopping. And lastbut not least, make sure to look
at structural integrity a homeand spectrum mayfind further inspections that they suspect any problems.
You want to look at the reallybig ticket items and understand the small
items or things that you can address. But again, as a home buyer,

(08:41):
many of them underestimate the path incost of home ownership. Is the
obstacles of home ownership and the timeneeded to maintain their property. That is
the trade off that you get forthe equity, the tax benefits, and
again kind of having your own tomain. One other thing that I want

(09:01):
to talk about, and this issomething that is a really common mistake from
home buyers that a lot of people, a lot of real estate agents don't
tell you. A lot of homebuyers mess up. And again it's something
that can be simply solved because itrelates to the property's location. And I'll

(09:22):
give you an example of this,because you know, one of the first
homes that I bought, I boughtnext to a sanitation plant, I'll say
it nicely, a poop plant,Okay, And I remember when I went
and bought the house and went outthere. Everything was great. However,

(09:43):
during certain times of day you wouldget a really bad smell around the house
that didn't happen on other times today. If I only went to the
home during certain periods of time,I never discovered or dealt with the smell
from the pooped plant right behind thehouse. So similarly, there are things
that happen in neighborhoods that happen atdifferent days and times, so I would

(10:05):
tell you to check out the propertyduring different days and times. Way too
many home buyers go out and lookat a property on a Saturday and everything
looks great on a Saturday, buton a Saturday night or Friday night,
it's a completely different neighborhood. Orthey underestimate commute times. That's a really
common one. So you want toassess commute times, and you want to

(10:26):
take the commute that you're going totake during the time that you will take
it. If you go out ona Saturday morning to a house and you
drive to your work and you're like, oh, it's thirteen minutes to the
office, well, unless you onlywork weekends, it's really not relevant.
You want to take that drive ona Monday morning and see how long that
commute is because I know way toomany buyers call us after they've bought,

(10:48):
and many times we often list thehome again and get an additional transaction,
which is great for my business,but I much rather satisfy the client the
first time. And they make themistake on location because they underestimate the commute,
and then once they get into thehome and it's fifty minutes one way,
so they're driving an hour and fortyminutes every single day, they realize.

(11:09):
You know what, We really regretBiden's house because we didn't want to
spend an hour and forty minutes inthe car every day. When we drove
on a Saturday morning and it wasthirteen minutes. So my last tip is
when you're going to buy a property, check it out in different days and
times, and if you're going tocommute to an office, do the commute.
Test the commute during the time you'regoing to commute, not during seven

(11:33):
o'clock on a Thursday at night orSaturday or Sunday morning or Saturday or Sunday
afternoon. Test it out during thetime you're going to commute, because that
will avoid you making a really commonmistake and getting into a home as you
stuck in a car too far fromyour office and wasting a ton of time
that you'd much rather be spending withyour family or doing enjoyable things. So

(11:54):
hopefully those tips help you. Wewant to help you avoid making those mistakes.
If you work with our real estateteam, we're going to help guide
you through that process to avoid makingsome of the common mistakes that lead to
buyers remorse. And again, youcan always go to our website at Duncan
Duo dot com to get more informationand reach out to us or at the
Dunkin Duo on any of our socialchannels for us to represent you in the
purchase of your next property. Sowe're going to continue this conversation after a

(12:16):
quick break here on the Duncan DuoShow. So I want to talk next
about social media experts in real estate. This is funny because you know,
you see people that have a lotof followers, and sometimes that makes people
think that a lot of followers meansthat they know what they're talking about,
and unfortunately, all it really meansis that they're popular or they did know

(12:37):
how to create content that people wantto watch. That doesn't mean their content
is accurate. I saw somebody theother day make a post that got retweeted
and you know, shared and commentedon thousands and thousands of times, and
it talked about how Florida's real estatemarket was slowing down because there were more

(12:58):
homes coming on the market. Itand what I want people to understand is
that more homes coming on the marketdoesn't necessarily indicate any change in a number
of sales. Okay, sales inApril were up eight percent year over year.
Inventory was certainly up as well,which indicates that we needed more inventory.

(13:20):
It would be like saying sales atWalmart are down simply because they ordered
more of a product. They orderedmore of the product. They may be
selling a lot more of it iswhy it's ordered more. So real estate
isn't necessarily the same way. Butinventory doesn't translate directly to sales. If
you see inventory rising in a neighborhood, that doesn't mean sales are suffering.

(13:41):
It simply could mean sales are improving. People want to sell and take their
gain, and they want to sellso they can go buy another home before
prices rise even more. There area lot of people moving up doing just
that, so an increase in inventorydoesn't mean sales are slowing down. In
fact, it could mean quite theopposite, and that's exactly what's hapen happening
in Tampa Bay. Inventory has increaseda little bit. I think we're around

(14:03):
three months of inventory, But puttingout any like scare tactics that that's some
sort of massive amount is laughable tome as a twenty year real estate veteran.
When I've seen real estate markets wherewe've seen eighteen months of inventory,
three months of inventory is laughable interms of thinking that that's a lot.
Of course, it's a lot comparedto two years ago when we had a

(14:26):
month and a half, but threemonths of inventory historically is still a seller's
market and still really low. Ourreal estate market is still growing dramatically.
And then that same article they mentionedthat because inventory, inventory is rising because
the area isn't growing as much,And again, those two things have absolutely

(14:46):
nothing to do with each other.In fact, they could be one and
the same. Inventory is rising becausepeople see how many people are moving here,
and some people are just simply decidingto take their gain. So more
inventory, Actually it's more sales,not the opposite. In a market where
we have a supply and demand curvewhere we don't have enough homes still today

(15:07):
to meet the demand from home buyersin some of our neighborhoods. More inventory
means more sales, not less.It just simply means more people are taking
their gain, more people are movingup, and occasionally some people are moving
out of the area. But TampaBay is still growing dramatically. Florida took
eleven of the top twenty five fastestgrowing cities and US News and World Reports

(15:28):
list of faster grow fastest growing cities. So this talk that inventory is rising
means we're not growing is just laughable. It's somebody that just doesn't understand basic
economics and just didn't go through realcommon core math classes in school. Tampa
has three cities. Tampa Bay hasthree cities among the fastest growing cities in

(15:50):
the nation. Sarasotat ten, Tampathirteen, and Lakeland at eighteen, all
ranked among the list of the toptwenty five cities showing the most growth.
The list uses Census Bureau's net migrationdata, and addition to net migration,
the list looks at meeting and age, home prices, household income, and
total population Tampa came in five spotshigher than prior with this proximity of the

(16:11):
beach and berging food and drink Secenegetting credit for its growth. Again,
a lot a lot of things goingon in downtown Tampa, laid back beach
lifestyle, big city amenities, greatwinning sports teams, museums and entertainment options.
Tampa also raked thirty fifth on USWorld's Best Places rankings and saw three
point five eight percent net migration.So again, we are growing, and

(16:34):
when we are growing, sometimes homeinventory is going to rise because there's demand
for it. The other thing Ifind interesting is the article related and it
tried to make it seem like,you know, the sellers are selling because
of you know, all these reasons, but in reality, they're taking their
games. There's a lot of peopleconcerned that some of the tax protections on
real estate gains could go away.And then secondly, a lot of real

(16:57):
estate and Tampa Bay is owned byequity funds and hedge funds, and they're
simply taking profits and moving them toother venues. Because our appreciation isn't as
high. That doesn't mean our areaisn't growing. It doesn't mean home sales
aren't strong. We're just not seeingthe appreciation that we saw a few years
ago. So the majority of thehomeowners in Tampa Bay are institutions, they're

(17:18):
companies. Those companies are selling theirhomes in moving that money into other investments.
So again, Tampa still growing,Still a great place to buy and
sell real estate, still seeing someappreciation, just not what we did a
couple of years ago. And stilla very balanced real estate market. Not
as drastic of a seller's market asa year ago, but nowhere near a

(17:40):
buyer's market. Ninety eight percent listto sell price ratio, still a seller's
market. Buyer's market, I tellyou, I remember ninety two percent,
ninety one percent home selling two hundredthousand dollars house for onein eighty. Okay,
that's what a buyer's market is.Home selling much off of the asking
price, home values dropping. Thoseare just things not seeing presently, and

(18:02):
so our market continues to hum alongagain. Is it great as it was
two years ago? No? Butis it pretty balanced yes? Is it
still healthy yes? Or we're stillgrowing yes. So hopefully that helps answer
your questions and debunks any myths youmight hear about the status of our real
estate market. We're going to continuethis conversation and talk about so much more
in Tampa Bay real estate after aquick break here on the Duncan Duo Show.

(18:25):
So we're back here on the DuncanDuo Show talking about the Tampa Bay
real estate market. Zombie foreclosures shrink. In the second quarter. Foreclosure activity
is down nearly twenty five percent yearover year, following a surge that hit
after nationwide COVID moratorium on lenders pursuingthe link homeowners. So I want to
explain this because I think that it'simportant to understand the foreclosure market and what

(18:51):
will happen in the future with foreclosuresas it relates to the residential real estate
market. For anyone that was aroundbackturing a Great Recession, we saw a
massive number of foreclosures. Back then, there were very few institutional home buyers,
There were very few large corporations buyingand selling, and there were very

(19:14):
few banks integrated with some of theseprivate equity funds that were kind of in
cahoots like they are today in termsof how residential real estate worked, and
so what the federal government and mortgagelenders and mortgage investors learned from the Great
Recession and the foreclosure market is thatthe foreclosures decimate the economy. It decimates

(19:38):
the economy because it loses jobs.It foreclosures bring neighborhood values down. They're
the iceore of the neighborhood, whichmakes the neighborhood less desirable. It's just
a domino effect that when a foreclosurehits the neighborhood, it hurts the homes
in the neighborhood, and then whenthe homes in that neighborhood are hurt,
the homes and the neighboring neighborhood arehurt. So what has happened since then?

(20:03):
Okay? And I want to explainthis from a standpoint of, you
know, the economics and maybe alittle bit of conspiracy theory sprinkled in.
So the government doesn't want to evergo through that again. Okay. They
don't want people losing their homes.They don't want these foreclosures happening. So
during COVID, they experimented and theyfound a solution. And the solution is

(20:29):
to kick the can down the road. And what I mean by that is
they allow people to stay in theirhome and they just add the mispayments onto
the back of the mortgage. Andso what ends up happening with these setups
that lenders allow consumers to do inforbearance is in situations where we've seen equity

(20:52):
rise thirty percent annually over a coupleof year period. Prior to the last
couple of years, a lot ofhomeowners that bought into three percent interest rates
have massive amounts of equity. Soeven when they fall behind, instead of
just going right to foreclosure, thebanks now allow the person to stay.
They don't want to foreclose, andso what ends up happening is they allowed

(21:15):
that home owner to stay to eventuallyget back on their feet, and they
just keep tacking onto the amount.And because we had such a rise in
appreciation, even when that person getsall those payments attacked back on, they're
still an inequity position. Now they'rerobbing Peter to pay Paul. It's like,
you know, having a credit cardthat you don't have to make payments
on. However, because values haverisen so much, most of those people
are still in equity positions and thebank don't want the property back because here's

(21:37):
what happens. The banks know,the investors know, and the Fed knows.
If they take those properties back,then it starts to depress values all
the way across aboard. It causesthem problems lending, and all their hedge
fund buddies that they're all in bedwith, all their hedge fund buddies that
own thousands and thousands and billions andbillions of dollars in real estate starts see

(21:59):
a drop in their portfolio. Sohere's what happens now. What happens now
is they allow homeowners to stay waylonger, they allow for bearans. They
kick the can down the road onforeclosure because they don't want foreclosures. They
don't want it to bring down values. They don't want it to cause values
to drop and then cause problems forbanks to lend and cause problems for the
government to send out money. Andthen secondly, they just trade assets the

(22:23):
banks, the hedge funds. Whydo you think mortgages get sold so often?
Mortgages. My mortgage has changed companiesthree times. I'm sure yours has
probably changed too. And here's why. Because they simply trade assets. So
here's an example. Instead of youknow, bank one foreclosing on a property,

(22:48):
they sell that mortgage to somebody thatwill try and work something out to
eventually just have the homeowner leave atsome point if they don't ever catch up
the mortgage. Instead of going througha typical foreclosesosure process, they simply trade
bad assets. Oh you got thisbad asset, well, instead of us
foreclosing, we're going to kick itto you and then you can try and
do a workout playing with the homeowner. And what ends up happening is you

(23:08):
have all these funds trading these badassets that never end up trickling down to
a foreclosure sale or hitting the marketas a new listing as a foreclosure.
So, for example, let's justsay they do have a property that it
looks like it could potentially be foreclosedon. Instead of it going through the
normal process, they're simply going toallow one of their hedge fund buddies to

(23:32):
buy that property and turn it intoa rental, but buy it through a
book purchase of a lot of assetsinstead of it hitting the market as an
individual property. That way, theprice of the property doesn't get recorded,
it doesn't drive down values in theneighborhood, it doesn't show up as a
foreclosure. So it's a major reasonwhy you're going to see a lot fewer
foreclosures because the banks have learned,They figured it out. The fix is
in. They know how to propup values for the residential real estate market.

(23:57):
So again home gets all the waydown the process where it looks like
it's going to foreclose, there's aworkout plan to keep that property from getting
actually foreclosed on that allows somebody tobuy that asset. In a bulk sale
is where the actual price allocated tothat property doesn't get recorded. It happens
all the time, you know,in these bulk sales, let's just say

(24:18):
five hundred, six hundred one thousandhomes across the country is sold from one
bank to one fund. They transferthose assets and you don't actually see the
individual price of the asset the waythey need the property. They've gotten smart
about it. So the idea thatwe're going to see this foreclosure phenomenon again
were regular consumers where you personally,if you're not a large real estate conglomerate,

(24:41):
if you're just an individual person wantsto buy foreclosures. The idea that
you're going to be able to havethe opportunity to buy foreclosures again anywhere near
at the pace that you saw backyou know fifteen years ago is a myth
because you're not in the good oldboy network. The good old boy network
of all the funds buying from eachother. They're just going to buy and
trade and sell to each other throughthe funds, and they're never going to

(25:03):
trickle down the individual sales, soit never trickles down to the lowest priced
sale in the neighborhood, so itdoesn't pull down values in the neighborhood and
doesn't kill the appraisal. So hopefullythat helps you understand. We get people
all the time saying, oh,I want to buy a bunch of foreclosures.
Well, unless you're aligned with blackRock, Blackstone, you know,
some enormous hedge fund, you know, some publicly traded company that's gotten in

(25:25):
the likelho of you buying a lotof foreclosures, an individual person just ever
isn't ever going to happen again.It's just not going to because they're going
to trade assets and they're going tokeep it that way because that is going
to keep values propped up at ahigher number. It's going to help them
continue alone and all of the largesthome buyers in the country. It's going

(25:45):
to allow them to buy homes direct, where they're eliminating commission, where they're
eliminating a real estate agent, they'reeliminating having to compete with people and acquire
more real estate, which is thegoal of some of those funds. So
hopefully that helps you understand where we'reat with the foreclosure market, where it
stands, and what we're going tocontinue to see. Again, when we
aren't on air, make sure thatyou're following us on all of our social

(26:07):
channels at the Duncan Duo Twitter,Instagram, YouTube, TikTok, and Facebook,
Duncan Duo dot com for a freehome value estimate, an instant cash
offer, or to apply for aguaranteed sale program. Again, you can
do all that and so much moreat duncanduo dot com. So I want
to talk about airbnb really quickly becausethis is a hot topic going on in

(26:30):
Penell's County right now. In SaintPetersburg, they have passed some laws,
then they've started to enforce more ofthose laws, basically rendering people that are
doing a Airbnb almost out of business. So if you are thinking about doing
Airbnb, I want you to understandthat there is no guarantee that wherever you

(26:51):
want to do air and b thatyou're going to be able to do it
forever. There are a lot ofpeople that them been doing it in Penell's
County. I could certainly argue allday long the pros and cons of airbnbs.
I think again, they serve apurpose. I believe that, you
know, Saint Petersburg and Pallas Countyhave been shortsighted in terms of their decision
making about it, but I'm notsurprised. And so as as an investor,

(27:14):
if you do want to invest inairbnbs, you have to be really
cautious to make sure you're buying intoa property that has a good long term
prognosis that the content can continue tobe an Airbnb so that the government doesn't
make a decision to put you outof business, which is what is exactly
happening in Pala's County right now.People own lots and lots of airbnbs are
being forced out of business and eitherforced to sell the home or turn them

(27:36):
into less profitable long term rentals becausethe government has decided, you know,
they want to regulate it more,or they want to tax it more,
or they don't like how it's beingdone in certain areas, so you know
that is one of the areas thatis challenging the same thing in local municipalities.
You have it in hoa's as well. You have hoa's make rules where

(27:56):
you have non business people that don'tunderstand the pros and cons or they're simply
passing something to appease a constituency oftheir for their agenda, not necessarily because
it makes the most sense, butbecause it's what will get them votes from
their constituency from the people that electedthem. So similarly, in HOA,

(28:18):
it's a popularity contest to get onthe board for an HOA. You all
have HOA people make really bad businessdecisions because the people that elected that person
to be on the board for thatHA aren't business people and make really bad
business decisions. So they put thisfirst in place, and then they make
rules or decisions that dramatically impact thefinancials of a of a neighborhood because it's

(28:38):
what they want, not necessarily whatmakes the most financial business sense. So
just be cautious with airbnbs. Youknow, we tell people all the time,
you've got to make sure that you'refollowing the rules and you've got to
understand what's going to be enforced,and certainly you got to have a backup
plan. And there are a lotof people in Saint Pete right now that
are now forced with that back planof their having to sell those properties to

(29:03):
you know, to consumers to livein, or they're having to turn them
into long term rentals because of thosecities not wanting you know, airbnbs.
And again I'm not saying that airbnbsare the best thing in the world.
I've had them close to my housebefore. I know it can be challenging.
However, I also think there's away to do it right and a
way not to do it. Andand I think there's you know, when

(29:26):
I think what happens in politics,a lot of the times you've got people
on far one side and then faron the other side. And when it
comes to a lot of business decisions, specifically the real estate's solution is probably
somewhere in the middle. But unfortunately, the way our political system is today,
everything is either way far to oneside or way far to the other,
when logic is probably somewhere in themiddle. And that's what I think

(29:47):
is the case with with what's goingon with the airbnbs. So so yeah,
again, be cautious if you're thinkingabout buying airbnbs or buying property to
airbnb. And if you're operating anAirbnb and you know that you're you know,
violating the law, they're going tocatch up with you eventually. Okay,
they're checking. They're hiring people,just like the I r. S
is hiring more auditors to track peopledown and audit their taxes. Cities are

(30:11):
hiring more people to go after taxdollars, to go after fines, to
improve their budgets, to make youknow, to make their constituents happy.
So again, we'll be back continuethis conversation when we aren't on here at
the Duncan Duo, and we'll continuewith our last segment after a quick breakthre
on w FLA News. So backwrapping up our last segment, and I

(30:33):
want to talk about my brokerage,LPT Realty. I am so excited.
I'm actually heading to Dallas this comingweek with our founder Robert Palmer to go
to a real estate Mastermind and youknow it's moving to LPT has been one
of the choices in my most recentchoices that I'm so excited about because it
is such a growth oriented company.And if you're a real estate agent out

(30:56):
there thinking about a change and you'reunhappy when you join a cloud based brokerage
like LPT, it isn't just aboutjoining LPT, but it's also about picking
the right sponsor, and I'm applyingfor that job. Basically, I want
to help sponsor more people into LPTRealty and help them build a business that
is worth having, worth living anda life worth leading like I have done.

(31:19):
So I am applying for that job. If you are a real estate
agent thinking about going to LPT,this isn't joining my real estate sales team
I have that that's another business Ihave. But one of the things that
I've found that I've been super passionateabout recently is helping other real estate entrepreneurs
move their business to LPT and getsome of the long term benefits and wealth
building opportunities, as well as aligningwith me for me to help them grow

(31:41):
their business and use the twenty yearsof history I have to help them set
their business up for success. Soif that sounds great to you, if
you've been unhappy where you're at andyou're thinking about a change, go to
jointhduo dot com. You can actuallyclick there. You can set a consultation
directly with me at that website againat jointhduo dot com. And I want

(32:05):
you to understand that that is notnecessarily you coming and applying to work on
my real estate team. That's availableon that website as well. But there
is a consultation where you can haveas an agent that wants to run their
own business within LPT, and youcan do that at joinddoo dot com.
You click there's a little countly link. You pop onto my calendar. We'll
have a chat and I'll help youunderstand the right path and the right thoughts,

(32:29):
the right path for how LPT canhelp you grow your business. If
you're a real estate agent that wantsto join a team. You don't want
to run your own business, youdon't want to spend money on advertising.
You you want to have accountability,you want to have structure. You can
also apply for one of our team'sopen positions or go to our career night
at joindduo dot com. So itwould love the opportunity to talk to you.

(32:49):
If you're a real estate agent,they get out to change real estate
market is massively changing right now.If you are not in the right place,
you don't have the right tribe alignedwith you, expect to see fifty
percent of the current real estate agentsnot operating in the next two years.
There's so much change going on withcommission, lawsuits and our industry that if

(33:10):
you are not in a place thatis helping you grow and helping you build,
then you're going to fail. Andthat's the sad truth of the changes
happening in our economy and in ourreal estate market. And I don't want
that to happen to you. That'swhy I moved to LBT, but also
not just to help other real estateagents and help myself, but to grow

(33:30):
a company that is agent focused realestate first, not just about recruiting,
but really more about helping people sellmore real estates and survive and thrive with
everything's happening. So again, hitme up at Join the Duo dot com.
You can also check out Doover Movementdot com if you're a real estate
agent you just want some free educationaltips. I post videos on that website

(33:50):
every single month, we share themon our social media. You can check
that out at Doover moovement dot commy most recent videos. I shared my
listing presentation on the I also sharedmy some of the scripts that I'm using
today, and again you can dothat if you're a real estate agent at
Doovermovement dot com. And so I'mup to I'm over ten thousand shares that

(34:14):
I've earned with LPT Realty for doingthe same thing that I've done at other
companies, which is sell real estate. And it's exciting for me because it's
the company allows you to have avested interest not just in the success of
your own business, but in themothership. And there's not a lot of
companies out there to offer that.And as LPT continues to grow and that

(34:35):
stock becomes more valuable and eventually thecompany turns into an IPO, that's real
money that the company has granted mefor helping it grow. And that's the
opportunity I want to share with you, not just not just the opportunity to
earn income when you recruit somebody intothe company, but the opportunity to earn
stock in the company and help itgrow and then benefit when the company eventually

(35:00):
gets to a point of you know, all the great opportunities that are out
there, so again you can dothat. Do Overmovement dot com, Join
the Duo dot com. Would loveto share the secrets to success that I
have had as a sponsor to helpyou in LPT realty as well as help
you grow and build within a cloudbased brokerage. Last, but not least,

(35:22):
again I mentioned this earlier in theshow. If you want an instant
cash offer for your house, myteam is actively buying homes. You can
go to Duncan Duo dot com.You can fill out, you can get
an instant cash offer. Would lovethe opportunity to buy your home directly from
you, avoid the process of sellingyour home if that's what you desire,
and we'll show you. Hey,look, here's what it would list for

(35:43):
Traditionally, here's what our fee structurewould be there. Here's the fee structure
here over here. It's more convenient, probably not as much money, but
again, to each their own.Everybody has a different motivation for selling.
And if you want just a quick, clean cash offer, you can get
that at Duncan Duo dot com.Our team will reach out and get that
to you, as well as yourhome value estimate and anything else that you

(36:04):
want again your home value, yourinstant cash offer or guaranteed self. If
you're thinking about selling your property,I want to buy your house and it
doesn't matter the condition. I wantyou to understand. I buy homes that
need hundreds of thousands of dollars ofrenovation. Sometimes I buy, you know,
some of the ugliest, most beatup, destroyed houses, and I
buy stuff that's clean and move inready as well. So don't let the
condition deter you from reaching out.If you're just wanting a quick clean,

(36:29):
exit again at dunkin Duo dot comand appreciate you tuning in. We'll be
back here next Sunday, like weare every Sunday at ten, follow us
online at the Dunkin Doo on allthe social media's, and have an awesome
rest of your weekend. Tampa Bay