Digital Social Hour - Making Millions with Content, Importance of Networking Events and Going All In On Content | Neel Dhingra DSH #242

Episode Date: January 24, 2024

On today's episode of Digital Social Hour, Neel Dhingra talks about the importance of content, how he was able to make millions making content and talks about the importance of networking events. APPLY TO BE ON THE PODCAST: https://forms.gle/qXvENTeurx7Xn8Ci9 BUSINESS INQUIRIES/SPONSORS: [e-mail] SPONSORS: Opus Pro: https://www.opus.pro/?via=DSH Deposyt Payment Processing: https://www.deposyt.com/seankelly LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit podcastchoices.com/adchoices

What does the audience want to learn about? How could you answer those questions? So it's super simple. Everybody wants to learn how to make more money. Everybody wants to learn how to level up with investing in real estate. So I think there's just a big opportunity to take these topics and programs and turn them into viral content. Welcome back, guys. Got a great guest for you guys today, Neil Dhingra. How's it going, man? Great, man. Thanks for having me here. Absolutely. I just saw, so I saw you had a big conference in Vegas. That's how I found out about you. I'd love for you to talk about that conference.

Yeah, so it's called the Forward Event. We do it every summer in Vegas at Resorts World. We had the last couple of years and it's just a, it's really about moving forward as the name implies, but honestly it was started as just a passion project. So I had been in the mortgage and real estate space for a number of years, built my business. And the way I grew my business was doing content marketing and really put myself out there on social and then funneling that into different tactics to get business and grow my business and recruit and do all these things. So I started doing that. And then what I noticed was everybody in my industry started reaching out saying, hey, Neil, can you teach us how you're doing this? Or, hey, we'd love to have you speak on this.

And so I started to do a lot of education within the industry. And then it kind of transitioned into, hey, I could really help people really move their business forward in this industry. So it started off with me doing just webinars and small events and just really micro events is how i got started so i did um micro events of like maybe 10 20 people just meet up style and then it from there it grew to like you know 50 people and 80 people and 100 people and then this summer we had a thousand people there and uh it's kind of crazy when you

think about online content you think about millions of views and going viral and all this stuff but then when you're sitting on a in a room with a thousand people like it feels really big like there's a that's a big impact so in person totally different vibe than online yeah but i love doing both i think it's it's super necessary i know it's difficult and not scalable to do in-person events but i think it's a great way to really get people together and make a difference absolutely yeah i always try to go to at least, you know, five, 10 a year in person conferences or events. Yeah. I'm a big believer in it. Yeah. And it's easy for me cause I'm in Vegas. Everyone comes here. Yeah. All the conferences

are here. So I actually talked about this a lot of like, Hey, I had the experience of being somebody in the audience and it may not be like something revolutionary that was said on stage, but it kind of just hits you at the right place, right time. There's something to be said for leaving what you're doing every day and maybe even flying to another city, sitting there, meeting new people. And then now you have the mind space

to really receive something new and to really reflect, oh man, I've been doing this wrong. Or, oh, you know what? I really need to make a change in my business or in my life. And that wouldn't happen, you know, just in your day-to-day grind, you had to get out of there and go to someplace new. So I'm a big believer, like change your environment, get some new information, meet some new people and just watch how you're. Absolutely. It's the energy, it's the networking, it's knowledge. I mean, you just can't sit at home and grind. You got to get out there. A hundred percent. And I'm an introvert. Like I don't want to go out there and do all these things, but it gets easier, you know? For sure. Yeah. Yeah. I was

a huge introvert also. I like what you did because being a real estate agent, you know, that's pretty saturated. There's a lot of them, but you were able to make content to sort of differentiate yourself from the rest, right? Yeah. So this is the thing with people in real estate and mortgage. They are kind of traditionally the last people to adopt new things. So it's like one of the industries that's kind of traditional, old school. There's a lot of tech and innovation there, but it just slowly takes place.

So what I found is that creates a big opportunity for people in that industry. And one of the biggest opportunities we all know with social is just doing content, putting out content marketing. But a lot of people in the industry say no for the audience. They're like, well, there's too many people doing it. Or they think it's boring. And what I found is some of the most basic advice like when you break it down and make it super simple has been the content that has gone the most viral and has also brought in the the most business and all that kind of stuff because we take it for granted because we do

this stuff every day but the average consumer does it like once every five years right and so for them like it's all really good information but but the key is taking boring, complex topics and turning it into something more engaging. That was my niche of, how can we take this program that can help you buy a property or an investment property? How do we make it super interesting? What I really get into is,

I think of it like a video game. How do we hack attention? How do we get people to watch this video for just a few more seconds? That way we have the opportunity to teach them something important. Right. That's cool. What have been your most viewed videos or clips? So for me, the content that's done the best has been teaching something. So I think this would help for any content creators out there. It's like, what does the audience want to learn about? So what I do is like go to answer the public

go to google trends what are people actively like typing in this in the search bar like what are they looking for what are trending right topics right now and then what are the questions around those and how could you answer those questions so it's super simple it's i mean we we over complicate the process but really it is all it is is like what do people want to learn what could you teach and so for me the best content the most viral content has been teaching things about real estate and mortgage and finance right and and everybody wants to learn how to make more money everybody wants to learn how to level up with investing in real estate so i think there's just a big opportunity to take these topics and programs and turn them into viral

content i love that and have you seen like a video length that is like a sweet spot or does it even matter so for short form uh i've been doing a ton of these i probably posted a couple thousand videos now at this point on just one platform and then now you know scaling to other platforms but what i found the optimal length after analyzing all this was like 37 seconds. 37? That's so specific. We just ran it through like a spreadsheet. On YouTube or? On Instagram Reels.

Instagram Reels, okay. And so the reason why I focused on Instagram Reels is because Instagram has our demographic, which is millennials, and we're looking for millennials with money. Right. So millennials are the biggest generation in the history of this country. They're also in their prime purchasing years. So I'm in real estate, but it doesn't matter what you sell. If you're marketing to millennials,

Instagram's a good place to do it. And then the other cool thing about Instagram for us is we do a lot of conversion and starting conversations through DMs. So we do content and then it leads to DM conversations. That isn't really possible on YouTube. On TikTok, I'm not sure if people are using DMs as much as they are. And so Instagram is kind of like the sweet spot for doing those

DM conversions. So I've been focusing primarily there. Dude, I love that. I make so much off DMs, it's not even funny. I mean, yeah, it's such an underrated thing because most people are just DMing to talk to people or reply to stories. But DMs, that's where the money is, man. Yeah, it's going down in the DMs. People used to joke about sliding into DMs, but that is where I've created so many relationships. And it doesn't always have to be business. That's the important thing.

We talk about starting a DM conversation. What I found is kind of funny, Sean, is a lot of DMs don't start with business conversations. They start with you posting that you're here at the win. And someone's like, yo, I, you posting that, you're here at the win. And someone's like, yo, I didn't know they had a podcast studio at the win. And then, yeah, then you talk about it. And then two, three weeks later,

we're talking about some business deal. But the icebreaker, the conversation starter is just what's going on in your life. So like, I've been a big proponent of like, just do cool and show it. You know, I know, I noticed one of you guys out here he's out there he just keeps taking his camera out and like filming us and stuff and then he's good at that yeah so now he's capturing content to show which is going to be great conversation

starter yeah man i love that and uh are you a fan of that new update where you can only message someone once on instagram i didn't realize that yeah so now you can only send one message until they respond yeah they have to respond now okay yeah i think that. Yeah, so now you can only send one message. Until they respond. Yeah, they have to respond now. Okay. Yeah, I think that's, I mean, I guess it can help because, you know, you do get like a lot of spam on the platform. So maybe that's what they're trying to produce. But at the same time, it's going to make you have to level up what's that one message

that you sent. You got to think about it. You got to think about the copy and everything. The words. How much money is your setup? Or how much money would you say someone needs to get started making content on average? I would say you need about $100.

People talk about buying thousands of dollars. We're in a studio here that probably has, I don't know, a million dollars worth of equipment in it. But what you need is just this device. Everyone's got it in their pockets, the phone. But you do need, I found, a mic and a light. A light is going to make and a light. A light. So a light is going to make everything look better.

And a lot of people use these ring lights. I think that's super harsh. You can see the ring on your eyes or on your face. What I would recommend is getting a softbox light. There's a simple setup on Amazon for like $50 or $60. And then get a mic because if people can't hear you, they're not going to be able to watch the content. I think what you want to do is just, you don't need the content to look perfect, but you don't

want to make people work to have to watch your video. So if they have to turn it all the way up or if they have to squint because you're not sharp, you just want to give yourself every advantage. We were just joking outside about people saying, hey man, what mic are you using? What camera are you using to shoot the videos? That's not the reason why the videos do well it's what it's like what you're teaching what the words you said but it does help if your audio is on point it does help if you're crystal clear because i've just found this sean people treat me better because my content looks better you know people do judge a book by its cover right so like it'd be like me rolling up in here today and i smelled funny and i didn't take a shower i just looked weird you'd be like um your opinion of me would change yeah for sure versus you know you show up prepared so i think if you're gonna post content online just get it

dialed into that like on a scale of one to ten like six or seven yeah it's all you need and then consistently hit that i definitely agree with the mic part because i thought i could just film reaction videos without a mic but the audio is so bad yeah and you can notice it and then what you'll find that what really cuts through the noise is you have to think about this when people are scrolling on social media they're kind of dumb you know it's not that they're dumb but they're in a dumb state of mind just think about your own behavior you come home you're just sitting on the couch some people call this doom scrolling you're just kind of going through yeah What would cut through the noise? Sharp audio. The picture looks good. The light looks decent. And then you say

something that connects. Now you've got all the things aligned. So I think about in a world where there's just a fire hose of content coming at the viewer, how do we cut through the noise? Yeah. Which platform other than Instagram do you see potential in? So obviously TikTok's blown up. It is like a little hit or miss. I found for me, it didn't quite work, but I know people in my industry that are crushing TikTok. I didn't really connect with the right audience there. It may be too young. I'm not sure, but I know people who are doing that. So I think it's like everybody needs to find their thing. I know other people who are not getting any reach on Instagram, but they're crushing LinkedIn. LinkedIn? Yeah, I'm not on LinkedIn, but my buddy Chris Doe was

just telling me that he's blowing up on LinkedIn and connecting with all these professionals there. Wow. So I think what you need to do is like, it becomes really overwhelming when you think about TikTok, you know, YouTube shorts, YouTube long form, Instagram, LinkedIn, Twitter, X, right? All these things. And you're like, shit, how do I keep up with all of this? Maybe just find one platform that you really can go hard on. And then you can repurpose the content on all the other platforms. So for me, that's Instagram.

But then also I got into copywriting in the last year and really like trying to get better at writing. So for me, that's Twitter, which is now X. So x so i'll take you know test ideas and just short form just write a few sentences see what connects with the audience on twitter then turn those into uh pieces of content for instagram facebook all that kind of stuff yeah i like uh i think his name's dan ko yeah yeah so he's making four million just off twitter mainly yeah. Yeah. And it's impressive. It's really impressive because Twitter has a different type of audience. I feel like it's higher up the food chain as far as the people you can connect with there. I don't have a huge audience on Twitter.

I do have a decent audience there, but I've connected with people who could really move the needle, like investors, people raising money, different types of businesses, some of the biggest podcasts in the country. They're on Twitter, and you can actually catch their attention there, which is types of businesses. Some of the biggest podcasts in the country, they're on Twitter. You can actually catch their attention there, which is kind of crazy. Yeah, it does seem like a more sophisticated, educated audience, right?

Correct, yeah. So there's a lot of **** posting there too, but there's some good stuff that you could post there and connect with. So what I've found is just get good at writing. And it's kind of interesting, the way you write things as far as that first line does it grab people's attention how does the text look on the screen it's visual too like i've noticed a big

thing people mess up on twitter or when they're writing these things is they don't put any spaces so it'll just be like a paragraph right if you would put a couple line breaks that might be a viral tweet let's help a lot on your eyes big, because now you can see it and absorb it. So there's a visual aspect to just typing text. And so I've been getting into that. And I'm not sure if you've been using this at all, but I know Threads was kind of a huge start. I deleted it. You didn't even use it?

No, I tried it, but I deleted it. Okay, so I think it's more of a distraction because so many other platforms. But I've had it still, and it's kind of plateaued. It's not growing like it was in the very beginning but i've been getting decent reach there too oh yeah so what i've been doing is just taking these tweets that perform well also throwing them up on threads also putting them into my instagram story story also putting them in facebook feed linkedin feed so um you know it does take like some bandwidth as far as maybe you have an assistant

that can help you repurpose content. But if you do go through the time to make a video or write something and it does decent, take that piece of content and put it up everywhere. You may as well and somebody will connect with you because of it. So what inspired you to get in this content game? I know you were hanging out with Gary Vee. Was that like an inspiration for you? Yeah, big time. So I was doing the business. I didn't even have a social media account. So I was just in my business, you know, doing pretty well, but just kind of burnt out on doing the traditional things like calling people, knocking on doors, doing all the things that we're supposed to do in sales. And I didn't really do any marketing. So what I found was like at some point you have to be doing

something that has a bigger return than just what you know standard return so i think about returns like this like symmetric you put in this amount of energy or money you get this return you can easily calculate it like but with marketing and content the return you put in this time and money but then the return is there's no ceiling like this thing could be huge it could be worthless to somebody and another person it could be worth 10 million dollars 100 million dollars whatever so i think at some point i realized like hey i'm not doing anything that's asymmetric i'm only doing these things which are very basic so i was thinking about like how do i get started with this and then i would see gary v videos and some on youtube and then i started to get into social and i think it was just one time like i'd seen a bunch

of different content but one of the videos just kind of clicked with me, like, hey, I need to get started with this, so I just started putting out the videos, but I'm telling you, man, these videos I would make in the beginning are so bad, like I can't even, you know it's bad when you can't even watch your own video, you know what I mean, like you're watching, you can't even get through it. It's cringy. It's just cringe, right, but that, I think everybody has to go through that, and so many people don't start because they don't want to be that cringe video. The good news is nobody sees those videos really. Yeah, like 10 people. Yeah, it's just like your friends and family.

They're probably going to heart it up just to support you. But the algorithm is not going to show it to anybody because it sucks. So it's kind of like you don't have to put it on a pedestal like everybody's watching me. And so I did those videos and then just slowly got better at it. That's what happened with me, man.

My first 10 podcast episodes, I was terrible. i think some episodes i talked more than the guest and it's just like you're learning you know yeah it's just a it's just like honing your craft and then you get more comfortable with it like with public speaking i used to be terrible at it and then so what i did was like just started doing it more you know just started trying more and then you get better you get more comfortable you speak with more confidence authority i had a coach just like help me communicate better and uh you can it's just to me it just proves that there's nobody who can say oh that's not for me i can't do it like you can do anything you just have to start doing it and then focus on getting better and it's just like sports and anything else if you just keep practicing you get better yeah i think a lot of people expect to be good right out the gate.

And then when they're not, they get disappointed. But where else in life would you expect to be like world class at something right out the gate? It's not possible. Yeah. You start playing tennis like you suck. Yeah. You have to get good.

I think we expect that with everything else. But with content, a lot of people quit because they're not good. Right. Yeah. Oh, man. Public speaking. I remember my first time i was myself man i do this is so bad i would get just dry mouth so i got on stage to public speak

in front of maybe just 40 people yeah my mouth goes completely dry i can't i can't open it like it's just stuck and i'm like hey could somebody get me some water yeah and uh i brought water and then i started drinking the water. Well, then now I could speak because it kind of opened it up. But it kept getting dry again because it was like a nervous reaction. So I kept drinking water. Now all of a sudden, like eight minutes in, I got to take a piss. I got 30 minutes left.

It was just a bad situation. My first time was I had to take a Xanax. I was freaking out. It's always the buildup with public speaking. It's never once you're like, once you're doing it other than that story, like it's kind of easy, you know? Yeah. Once you just rip the bandaid and do it, you get better. And then I think it's just those first few times.

Yeah. This is kind of a crazy point. Like with almost everything that we think is difficult, the first time it's really difficult. Yeah. Like the next time, it's not like it gets a little easier. It gets way easier. Way easier. That first time is the worst one.

Worst. And then the bar comes way down. It's not like you're going to be great after one try, but you'll be a lot better off if you just tried it that first time. Yeah. And it's going to be cringe, whatever, you're going to suck, but everybody has to go through that. Yeah.

So I just think of putting yourself in a situation where the risk is low. So do this in front of 10 people at a dinner. Offer to do a toast. If it bombs, who cares? It's just friends. Yeah, no big deal. Don't put yourself on stage with 1,000 people. That's where I messed up.

I did about 100, 150 people, but quality people, not high-income people. That's one of those moments where you'll be taking a shower and you'll be thinking about, oh man like i was on you i was on the roof of the house having a panic attack oh my god that's how bad it got like and they kept pushing my talk back which made it worse dang but you did it you came through yeah i came through as soon as the first word left my mouth everything went away wow yeah it was all the build-up and once i realized that i wasn't actually scared of public speaking it was like the thought of like how people would react i guess i don't know yeah

it's huge yeah but um have you landed any like big deals just as a result of your content marketing yeah huge so i've been able to connect with people i mean just us talking right here like it's because of content so the main thing for me has been relationships so it's allowed me to connect with this person who led me to this person. Now we're doing an event together. Right. Now we might be doing deals together or investing, right?

So I found amazing real estate and finance deals because of putting myself out there. Also got to invest in things that I wouldn't have had access to because of doing the content. Right. And then now it's just like, I think a lot of the opportunities are coming.

It's like a hockey stick. You know, like in the beginning, you get little hints, little wins, and those keep you motivated. But then you'll start to get bigger wins the longer you stick with it. It's kind of funny when I think about compounding. The biggest gains come like towards the end of the growth curve. Right. So, you know, a lot of it is like we is focus on getting better, but then just don't quit. Dude, if you just don't quit,

because most people quit, you'll win. You don't even have to be the best. You just have to be decent and not quit. You'll find yourself getting new opportunities. That's the thing. I love what you said about compounding. The first eight, nine months of the podcast, that wasn't profitable.

Now, huge deals are coming in. Most people compounding because first eight, nine months of the podcast, that wasn't profitable. But now huge deals are coming in. And most people probably would have quit two, three months in. I think 90%, 95%. Yeah. They do quit. Yeah. What is the stat on that?

How many podcasts? Yeah, I think 90% don't make it to episode 10 or something. Something crazy. But dude, if you just dedicated a year to it, the result of podcasting is crazy. The networking, the stuff you learn the business deals the sponsorship money it really is impactful yeah so podcast and youtube long form seem to be like the hardest to grow yeah but they are the most impactful because you're

developing a real relationship with people if people like i just think about i got like five or six podcasts to listen to now now maybe another one because i'm gonna start listening to yours like but you start listening to these guys and gals like you develop a real relationship with them there's a stat out there it says like seven or eight hours is required uh for someone to form a friendship with you online right and you don't know them but they're forming this friendship with you and so you think about doing that that's not really scalable in real life like you only have so many friends yeah but when you start scaling this online, think about the opportunities. It's probably going to be a business that you didn't even think you would be in right now. So for me, I was in mortgage real

estate. Now I have an education business. The education business is growing faster than the other business because of the content. But I had no idea I was going to be doing education. It just sort of happened. But it's because of doing the content. So I think maybe four years from now, I'm doing some insurance thing. I don't know. You don't have to know all the things that are going to be coming.

Just know that there's some things coming if you stick with it. How did you make that first big money? Was it from real estate? So yeah, I've been doing that for a while. And so what I was making, like two, three hundred grand a year, which is decent yeah i knew i was capable of more and then when i started doing content marketing i was able to forex that wow my first seven figure this was back

in 2018 and then kept going to like multiple seven figures from just off content just off doing content and building a team wow so for me it was like i was a uh mom and pop like just a small team me maybe one or two support people. And then we grew to like 23 people. And then I saw, oh, this is how you can really scale this business. So that part, when I saw that, I was like, I've been doing this wrong. And I think this is the biggest regret people have in entrepreneur space is like, oh, I wish I would have done it sooner. That's like the number one thing.

But once you start, I mean, the best time to start would have done it sooner. That's the number one thing. But once you start, I mean, the best time to start would have been years ago. The second best time is today. Let's just rip the bandaid and get going. So that helped me scale that business. Then I started from scratch as a side hustle, like a passion project. I started doing education. And then that business has grown. I think we've done like $6.5 million in just two and a half years since that business started, which I'm not saying that to flex, but I'm just saying, hey, this works. That's teaching people how to make content? Correct, so we teach people and we do events

and we do education. And so that's the gross, but it's still cool to see a business growing that fast in just a short period of time because of content. And that's the thing. You proved you can make a million a year on your own. So that's what made you eligible to teach it. You know what I mean?

Some people try to teach without proof. Yeah, so I didn't do that until I had already proved the concept. And then still to this day, everything we're teaching, I'm doing in real time. So that's why I always want to be in the industry as well. Because I think there's a lot of coaches, and I don't knock anybody for doing it, but like, like you said, they're not doing the thing. So then you don't really have your finger on the pulse. Like, does this really work? Yeah. Can you really make money doing this? So for me, I want to prove it first and then teach it because I found this Sean, nothing sells like results. So if I could say to you, Hey, I just set up this

content marketing funnel and it generated this many clients and then we generated this much revenue. Would you like to learn? It's an easy sell, yeah. It's instant. The only reason people don't buy things is because they don't believe it's going to work or they don't believe it's going to work for them.

And if you can dispel both of those with results, you can scale anything. The problem is, like you said, most people don't have those results. So they're just selling you a pipe dream. And it may or may not work. You can scale anything. The problem is, like you said, most people don't have those results. So they're just selling you a pipe dream. And it may or may not work. So then if I think people are, well, I know this,

people are attracted to confidence and clarity, they're repelled by confusion. So if there's any doubt, it's just going to be hard to scale your business. Yeah, numbers talk, man. That's it, man. So just prove results. Yeah. So are you fully like out of the real estate stuff or is that more just passive?

So we have a team. I still do that every day. So I spend half my time on the mortgage and real estate business and then half the time doing the education thing. So I'm kind of in both spots now. Maybe eventually that'll change, but for now I like doing both.

What type of real estate models do you like? Because I know creative financing is hot right now. I'm seeing stuff about commercial real estate. I'm seeing stuff about Airbnb kind of dying off. What kind of strategies do you do? So what I'm looking for is more just kind of the slow and steady boring stuff. So I've just now started doing more creative stuff because interest rates are so high right now that you have to get creative with owner financing, taking over loans like assumable loans.

My friend Pace Morby taught me about buying property subject to. So you can take over people who have a really low rate. You can take over their mortgage. So these are all things that I've been getting into in the last year to acquire more real estate. But for me, prior to the rate spiking, it was just like about finding good deals and then in quality markets that are growing

and just buying property. So I've just been buying single-family homes. You buy and hold? Correct, yeah. And then just leveraging that over time. So my strategy with investing has been to make money from something and then put that money, park it into a deal, like a real estate deal. And then from there, go back to making money.

And then these things appreciate, spit off cash. And then try and just build this thing to the point where it's spitting off enough money. So I'm still in that growth phase. As far as commercial goes, I haven't gotten into it. But everybody who I talk to who's in the commercial space is telling me that there's going to be an opportunity in commercial real estate in the next couple of years. Because what's happened is interest rates have spiked. This is going to cause a slowdown.

A lot of people thought it was going to make the real estate market crash, but it hasn't because there's just not enough homes to meet the demand of people who want to buy these homes. So real estate has kind of stayed pretty strong, residential real estate. But office and commercial has been having a lot of vacancy. There's a lot of vacant office buildings, office buildings that need to be renovated. You're starting to see big

deals. People go into default on these buildings. So there's going to be an opportunity. So real estate will have a little bit of a crash, but it's not going to be what you think. It's not residential. It's going to be the commercial space. So I'm going to start looking in the next year or two at possibly buying in that space. I have not bought anything commercial, but I want to get into that. And you're taking out loans against your equity eventually, right? Correct. Yeah. So you can borrow against the properties you own. That's debt. So it's not taxable. Debt is kind of expensive right now. So that's where you need to get creative with financing. But that's going to change. So right now, interest rates are at a 22-year high.

They're going to come down next year. You think so? Yes. But right now, they have to stay high because how much inflation is out there. So there's so much inflation. Everything's expensive. The Federal Reserve is trying to kind of crack the economy. So they want to bring all that down. And so they have to leave rates really high

for a period of time. So I believe that by this time next year, so one year from now, we're talking about fall 2024, you should see rates a percent or two lower than where they're at today. So it'll be like, what year from now, we're talking about fall 2024, you should see rates a percent or two lower than where they're at today. So it'd be like,

what are they now, like seven? Correct, yeah. So if we can get into the fives, high fives, that would be really good for the real estate market. Right now at seven,

it's putting things kind of on lockdown, meaning like in the sixes, they were slowing down, but still active. In the sevens, I've seen people just kind of back off.

Yeah, it's too high, man. They're just like, yeah. Seven on a million dollars is like 70K a year. Correct. It's a lot. It's quite a bit of interest that you're paying. And then you think about unsecured debt, credit cards, auto loans.

Those rates are getting really high as well. I saw somebody send an offer in the mail the other day and I looked at it. It was like a balance transfer for a credit card and it said 17%. Holy crap. What the heck? People, are you taking advantage of this?

Yeah. So this is insane as far as how expensive money became. And it was just very quick. Dude. It went from cheap, like almost free money. Yeah. To like the most expensive money in two decades. It's nuts, dude.

I was on the phone yesterday because I'm buying a house right now. And hard money is 11% to 15% right now. Yeah. That's crazy. It just makes deals a lot more difficult. And so it's not that the market's going to crash because everyone who has a property who has a low rate is just hanging on to it.

And then buyers are saying, the rates are too high. So I think we're just going into a state of... It's a stalemate, right? It's just a gridlock. Because the prices aren't dropping, in Vegas at least. Correct, yeah.

In most markets, there's not enough supply. People who are saying the market's going to crash, they didn't realize most of this is based on demand and supply. Demand's pretty decent because there's a lot of people who want to buy homes, and then there's very few homes to buy. So if you go out and look, and you probably found this, there's not a bunch to look at. I just bought a house six months ago in Vegas, in Summerlin.

We looked for a while. We didn't find shit. Summerlin doesn't have shit, bro. There was nothing. So we like kept looking, kept looking. And then we found one. We're like, oh, shit, we got to move on this. But I mean, at the time, there was like three properties to look at.

Back in the day, you could look for like 10 homes on a weekend. And then you could look again next weekend. So there's not that much to look at. Meaning whatever's there, if it's quality, it can be sold. And the only stalemate now is becoming as the rates kept going up the buyers are like i don't want to buy i'm just going to wait yeah so i saw in the news that rates are going to come down next year so why don't i just hold off yeah so it's just creating this like super low level of transaction makes sense neil it's been fun man anything you want to promote or close off with no man just thanks for having me and if anybody wants to connect or needs help on content and all this stuff,

just shoot me a message on Instagram. I'm at Neil Holm. I respond to all DMs. So just DM me and I'll be happy to help. Love it. Thanks for coming on, man. Thank you, bro. Thanks for watching, guys.

And I'll see you next time. Peace.