Epic Real Estate Investing - When Will the Housing Market Become a Buyers’ Market? | 1173

Episode Date: January 6, 2022

In today’s show, you will find out when the real estate market will again become a buyer's market. The sellers have had the power for way too long and it is time for the pendulum to swing back in the other direction! But before that, you will hear the discussion between Matt and a fellow marine on how 20 years of service in the Marine Corps helped bring success in real estate. Let’s go! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. On today's show, we'll take a look at the real estate market. Specifically, we're going to analyze the market as to knowing when the market will again become a buyer's market. The sellers have had the power for way too long. It's time for that pendulum to swing back the other direction, but when is it going to happen? We'll look at that. But first, let's kick it off with a discussion I had with a fellow Marine where he shared what 20 years of service in the Marine Corps taught him about real estate success. You're ready? Let's go.

Welcome to the all-new, epic real estate investing show. The longest running real estate investing podcast on the interwebs. Your source for housing market updates, creative investing strategies, and everything else you need to retire early. Some audio may be pulled from our weekly videos and may require visual support. To get the full premium experience, check out Epic Real Estate's YouTube channel, EpicR-E-I.TV. If you want to make money in real estate, sit tight and stay tuned. If you want to go far, share this with a friend. If you want to go fast, go to rei-aise.com.

Here's Matt. So joining me today, fellow Marine Corps veteran and new member of the Epic Training Team, Mr. Tony Rosenbaum. Tony, welcome to the Epic Real Estate Investing Show. Thank you, Matt. How you doing today, buddy? I'm doing well. In fact, I'm here in Vegas. It's raining a little bit.

kind of cold outside and, you know, the day before Christmas Eve and just kind of hanging out. So it's been a lot of fun. How about you? I'm doing well. Rain in New Vegas. Does that mean like traffic stops? It was even worse than normal because it never rains? That means hell could be freezing over shortly. Yes. Speaking of freezing, I'm in just north of Philly and it's freezing here right now. It is totally. Well, this is one thing I like to move from Los Angeles because I don't think I remember a Christmas that it wasn't under 80 degrees. And so that was just never fun. So Anyway, Tony, thank you for your service, buddy. Let me start with that.

And anyone that's listening that has been in the Marine Corps, and I guess military overall, but kind of more specifically, the Marine Corps, at least that's just my point of reference, is that, you know, we all grew up with superheroes, and mine were mostly baseball stars. And I love the action heroes, too, though I love Superman on the whole Justice League and all that stuff. But, you know, it really becomes your superheroes when you go to Marine Corps boot camp and your drill instructors. they become the really I don't know the gods is like a really big powerful word I don't necessarily mean as gods but you look up to them with such reverence and such respect and anytime you get to meet one I get all giddy and get all excited and the fact that Tony has joined us here at Epic is part of our training team just makes me feel really really good and I'm just really happy to have you here Tony so glad you made it today and likewise man I'm happy to be on board I love what you're doing

You have a great program, and it's really an honor for me to be part of the team for sure. Perfect. I love it. So 20 years in the Marine Corps, and you became a real estate investor. So kind of like let me know how that transition happened, how you got started. Well, you know, you're in the training and education space. And interestingly enough, I had a gentleman by the name of Joe Powers initially introduced me to real estate back in the mid-9th. I retired in 2006.

And at the time, I didn't even own my own house. I was deployed all over the place, really just trying to figure all that out. And my only mission was to make Marines and win battles, as I say. So I didn't really look into real estate as an option for investing. I had some traditional investment stocks, bonds, a little bit of TSP. It's like a 401k version for the military. and I didn't really get into it until after one of my deployments, I deployed back to Iraq again and came back home and a good friend of mine.

His name's Eric. He went to a real estate training class, loved it, and told me all about it, you know, that weekend after, and then got me a little bit interested in it sparked it up again for me. And then I deployed again. Well, fast forward the tape. I come back from deployment a year later. and he's like, hey, Tony, where you been? You know, how's it going?

I go, well, I've been deployed. It's going good. What do you've been up to? He goes, well, as you know, I got out and I pursued real estate full time. And he told me about it. And we went and had a couple beers like Marines do. And we went golfing. He told me more about it.

And he sent me over and gave me a little bit of advice on where to get started and how to get started. I linked up with a group, not nearly as sophisticated as what you do now. but it got me started. I linked up with a like a three-day event, enrolled in their program. I did a mentorship program with them, and I just,

I haven't looked back. And it's been almost 16 years now since I've been doing it. So I started doing it, doing real estate, introduced to it about my 19-year mark, started doing it while I was on active duty, transitioned out, went right into real estate,

and have a look back. So that was my initial introduction. Fantastic. You know, I did a little bit of, research before we got started here and I found this right here. There's one on the right. I would love to be able to blow that up if I could. Oh my God. I love that picture. Were you senior here?

I was a senior drill instructor and you're not going to believe this, Matt. Here's a good story for you. One of my Marines found this picture and sent it in. And I have a life-sized cardboard cut out of that picture in my other room over here. Nice. You're such a badass, dude. You know what I noticed, though, mostly? The little guy on your left shoulder, kind of the small, skinny guy. Yeah. I remember drill instructors that looked just like that, and it scared the crap out of you.

There's some of the most aggressive, ruthless guys out there was the small, unassuming guys. Was he like that? Yes, he was. It's funny because we called him Big Daddy Boone. His last name was Boone, small guy just full of piss and vinegar. but a love for life. I think that's the thing about being a drill instructor that we all have is just a passion for training others.

And really, you know, you want to talk about breaking down fundamentally and just being on the same sheet of music. You know, we're equal opportunity hazers. We haze everybody, right, regardless of what you look like. And just to be able to do that and take somebody from really, really rough, not knowing anything about the Corps to have basically trained Marine in 13 weeks is a monumental feat, number one, but it's such a great program, and I'm very proud of that. And I, too, look up to my drill instructors the same way you do.

You know, it's funny. Like, he's got a little smirk on his face, too. And that just always, that's never a good sign. There's never a good sign. You know, it was interesting that you had suggested we get on it and talk about this today, because I have been asked in a couple over the years, maybe once, no, probably twice. You know, what did I get out of the Marine Corps that translated into my real estate success? And you kind of just touched on it right there. This is my answer, and I certainly want to give you, I want you to give you your answer, because you were in, you know, four times longer than I was, that when you're thrown into,

like, for example, you arrive to the Recruit Depot on the bus, and you're in your little world until that door opens, you know, and then the drill instructor hops on the bus and you are just in total, like you have no idea what's going on. You're getting screamed at and it's rush, rush, rush, and get on the yellow footprints. You're supposed to stand there and you just wait. And sometimes when, you know, you start something brand new, whether it's something as extreme as boot camp or something like real estate investing,

you can have that same feel. Like, oh my gosh, this is a totally new concept. We have no idea where I'm at. but along the way you had someone there to guide you that's been there and done that and it's been there and done that for other people so you know as much as you were terrified of the drill instructors that they were your only lifeline you had to follow them and do what they said or else you know who knows what it happened to you is what I was thinking and what I noticed was over you know those 13 weeks you had a very specific schedule right you just got to get up one day and then

you got the schedule and you go ahead and carry that out and then you turn in for the evening and then you start all over again and do it all over every single day. And the big lesson I got out there was one, when you're learning something new, it's okay to be confused, right? It's okay to be frustrated and discouraged and it's okay to have all those weird emotions that humans get. The second thing is follow someone who's been there and done that before, which I think was another big one. And then the third thing was just have a plan. And, and, and, and, and, and break it down into small little pieces and just carry it out over time, you know,

and you do that from a total civilian that doesn't know his ass from a hole in the ground, and after 13 weeks, you become a locked and cocked Marine. And I just kind of had that, anytime I'm trying something new, I always reference that process, right? And so that was probably the biggest thing that I would credit the Marine Corps for giving me as far as my real estate success. You have a similar thought, or you have something to add to that? Yeah, I love the way that you kind of symbolize those two things because I remember, you know,

whether it was going through boot camp being petrified, not knowing what was going on. My first interaction with the Marine Corps was that gentleman right there. That's my grandfather. He fought in the battle of Palo Lu in World War II, but he was very young when I died. I just knew that if I was going to go into the military, I was born and raised in Flint, Michigan. And I didn't really rock and roll on the administrative side in school then. But I will tell you, when I went in, I didn't know what to expect at all. I just knew it was going to be tough.

I knew it was going to teach me something. I was looking for structure in my life. I was looking for guidance and direction. And boy, I got it. When I got there, just like you said, boom, chaos. But now going through that as a recruit, like you've been through it on the recruit side, I've been through it on the recruit side. and then just being so close to it every single day and watching yourself and others around you grow so rapidly and grow just like leaps and bounds not a little bit but like every day you've seen something better in yourself and in others which made you want to be better and I think that you know that's just part of the whole piece of it is you're around so many other people that are just trying to do well and then you have these marine drill instructors which you think are going to kill you but at the end of the end of the

end of the day, they're there to support you, train you, to make you everything that you can be and break out all the potential that you never had. So when you take a look at that and you go, is it scary? Oh, yeah, I was scared to death. First time I went to combat, scared to death. Second time, scared to death. Third time, scared to death. But I had a platform then. I knew it. I knew what I was doing. So when you talk about real estate, people ask me, when I got started, was I scared? and I say, look, it was one of the scariest things I ever done. I'm like, oh, you've been to boot camp, you know, you went into the core, you went through all that, you've been to combat, I go, yeah, that was different though.

It was, I don't know, I just felt different because now, like so many people, this has everything to do with finances before, even though it seems kind of weird. You're like, I'll just go do it. If I get beat up, I get shot, I get whatever it happens. But now it seems a little more personal because it's your finances and people. I think over the years just never get mentally trained the way that they should on dealing with finances. So I love what you're saying. And for me, when I went into this, I broke it down like, you know what? I need to be trained on it. I need to be educated on it. And then I'm going to go out there and just do it and kill it.

And I know I'm going to get better at it. And I surrounded myself with some really good people that guided and directed me and turned me just like I did in the Marine Corps. and I asked a lot of questions, and I participated. I volunteered for everything. I put myself out there because I said, if I'm going to do it, I'm going to do it. And that's exactly what I did. That's awesome. And you bring that to the team as well. I've noticed you're a great leader and you're always helping, and I just think that's awesome.

And I really appreciate you for that. So you met up with Eric after you got out, you went through some training program, and then you went out in the real world and started to implement. So kind of share with me what your success in the real world of real estate has been. Yeah, it's interesting, Matt, because sometimes, you know, everybody has a little different path and journey. And when I got going, you know, initially remember this was, I retired June 30th of 2006. And you know what happened right after that with the big housing crash and everything else. And I just, I learned from a very early stage to do the right steps, ask the right questions.

and somebody was there for me to mentor me through some of the, not only just the fundamentals, but, you know, what happens when you get, like Tyson says, I know you have a poster of this or a picture, it's all good until somebody punches you in the face, right? Everyone's got a plan. Yeah. Yeah, everyone's got to plan until you get hit in the face. And the thing that I felt good about is I knew that, and I knew because of my background, there was always going to be somebody that's going to punch you in the face.

Like I was ready for that. And every now and then somebody would punch me in the face. And rather than retreat, rather than give up, rather than, okay, that hurt, I'm not doing this anymore. Like anything else in life, you got to go through it. You know, you got to go through that learning curve. You got to go through the wave. And, you know, fortunately, it wasn't some big, enormous hit financially. It never was because I had the foundation, right?

And I always asked a lot of questions. And my team was there for me. And, you know, you mentioned what I bring to the table. I like that part of this is the training and developing of your students. It's an incredible experience for me, and it's very satisfying for me. Yeah, and you're well-loved around here by the students as well. I get nothing but praise and how great you are. And I could, you know, I'm like, I don't doubt a word that I hear.

It's been awesome. So at what point did you go from being a practitioner to actually start? training people on how to do what you were doing as far as real estate goes yeah that's uh that's another good one i um so i started doing real estate about 16 years ago and really started cranking it out and even before kind of the highlight of the last many years the um you know a brick and motor fix and flip has always been really popular and then over the last several years a a wholesale flip or an advanced level of that wholesale flip has been very, very common. But when I got started, it really wasn't a thing. So I really kind of cut my teeth on a brick and motor fixing flip and started,

you know, did one, did well, did another one. You know, I think we had, and then I ended up teaming up with some partners later, which was another experience, some good, some bad. And, you know, we had eight, 10, 12 projects going on at once, really, really, really busy. I love that. And then I think, you know, I got a call from somebody that was in the training and development space and said, hey, I heard you're killing it in real estate. I heard you're a very good instructor. I know your background because even before I started in the real estate training and developing arena, I would do leadership development training for organizations.

I was featured on a four reality TV shows. So that kind of gave me a little bit of a head start in terms of. of marketing and a little bit of notoriety for me. And I just took it and ran with it. People, you know, I was getting calls from people from like Oakley and Pepsi and, you know, all these Fortune 500 and 100 companies say, hey, can you come do that for my team? And then I ended up getting an agent and started my own business when I was doing motivational speaking, leadership development for C-suite employees.

Because it's one thing to be on the top technically. it's another thing to be on the top and being able to broadcast your message. Matt, I've been in several meetings with you. You do that superbly. And there's just some people that don't have it. They don't have that leadership background. So that's another thing that I kind of brought to the table here. So for me, it was really kind of a merge of leadership development internally to that training

and development company. And then I just, somebody said, hey, you know, you're great of real estate. You're a great instructor. Why don't you try teaching? So that's what I did. Great. I was over here looking for a cool picture of you on that celebrity boot camp thing. I found this.

This is quite the website that's set up, whoever set this up. But you can see it a little bit in there where... That's the top one right there is funny. Some people may know him. That's me giving him the business. That right there is Bud Bundy, David Faustino. Right here at the top. Married with children, yeah.

That's me giving him a little. little bit of the business there. Got his hair cut. If I remember, I saw the preview, like he was the only one that went through getting his head shaved. He was, yeah. He was the only one that was all in. I got to shave Culeo's mustache off, which he was very well known for.

But yeah, we had a great time doing that. We did boot camp, and then we did celebrity boot camp, both on Fox Television. And then I did a show called Could You Survive, which was on the Discovery channel and it was similar but different vibeness but I was one of the lead instructors and you know I and I tell you Matt which is interesting you know another thing about going back to what we did in boot camp is you know not only are we teaching them the fundamentals of being a marine and have them trained as a basically trained Marine but the mental toughness part of you know what we do is Marines and you know what we do is real estate investors because you're an entrepreneur

It's different territory. You've got to stay in that fight. You're going to get more nose than yeses. All of those things that you and I battle and all the time, but the reward is significant. Yep, yep. You don't need a whole lot of yeses to hit the big reward. It's what I like about it.

You know, as far as getting an edge from the military, and you kind of probably touched on them a little bit. I would say the one thing is like, you're just not allowed, I think the one thing that I got was you're just not allowed to quit until the job's done. There is no quitting. You can't just say, I'll forget it today. I'll start.

I'm going to try something else tomorrow. That just wasn't allowed. Right? And then as far as the other thing is like when you get socked in the faces you were talking about metaphorically, sometimes literally I guess. But metaphorically, we get socked in the face here in real estate. And you said one thing that says, oh my gosh, I'm never going to do that again. You know, people get that lesson and they walk away with the wrong lesson. Right? And so I really saw how military gave me an edge was, okay, that didn't work. How do we do it again and make it work? Right? How can it be rather than, oh, that's not going to work? Let's give up and quit and try something else. I don't know. What are some of the ways that you got an edge from your Marine Corps training?

I think that, you know, you're always looking for a path. You know, we have this thing called the commander's intent. So what is the commander's intent? The intent is to get, in this case, So what's the intent to win on a deal? Okay. So how do we do that? You know, you and I have very specific checkpoints that we have. You know, take a Marine Corps pilot, right? Boom, boom, boom, checkpoints and checklist that we do. But there's also some things in there when you're running up against something

and it just isn't working exactly the way it's scripted out. So what do you have to do? You have to know that you can get there. Use your resources. and not everything fits in a nice little box, quite frankly, ever. And in real estate, the more you do it, the better you're going to get at it, of course. But there's always something that's a little bit different. And I think there's always a way to get a deal done.

I know you like financing, for example. I know you do a wonderful piece on creative financing. People run into things. And a lot of times when I'm out teaching for you, Matt, people ask me, well, I heard this. I heard this. Well, what about this? I heard this. And it's funny because even before we get started,

I ask about all these things. Why haven't you done it yet? What's been in your way? What's your obstacles? And all I hear, and I say this to them in a funny way, all I hear is blah, blah, blah, blah, blah, like peanuts from Charlie Brown, right?

I go, listen, everything you just said may be true, but it's somebody else's truth, not yours. Because when I break down a deal and I look at it and somebody says me, this deal didn't work, and I go, why? And they're like, oh, you know, it was a whatever. You know, most of the time on a rookie level investor is because they just don't know. They don't know.

They don't have the foundation. They don't have that basic left, right, left that we do in real estate to be able to have a baseline to know if they're right or wrong in the very beginning. Right. I know you've got a master's degree in executive leadership, right? And I almost feel like being a drill instructor that was kind of a default. But you went to school for it and got a traditional education around that. How does that help you in training the students?

Another great question. I love this one because I didn't get my master's degree until I was almost 50 years old. And that was a goal of mine. I got kicked out of high school. And just a few days before I graduated, I was told, congratulations, you dumb bleep, you're not graduating. And that was really rough on me, not because I was such a wonderful person in high school. But I played sports and football, all that. But it was, was just kind of a shot in the head, right? So I went into boot camp, non-high school graduate, and that really kind of just, it was a goal of mine to be smarter, to be better, to be educated. I think you can never go wrong with furthering your education, whether it's real estate or

a traditional form of education. What I'm seeing is a lot of people get into degrees. I think, you know, whenever I pull one of our students at one of our events, I was asked Matt, hey, how many people are working outside of your degree that you earned? And I would say probably 70, 80%. So I decided to, while I was in on active duty, in between deployments, in between, you name it, anything else, field deployments, combat, whatever it was, to get my butt back to school. And I did. Associate's degree, bachelor's degree in business. And then I just had a goal.

I wanted to have a master's degree. And I was really torn between an MBA and this executive leadership program, which I received from Liberty. University, one of the largest Christian schools in America. And I just wanted to do that for me. And what I learned is a lot of the things that you, it's funny you mentioned about, I thought, you know, journal structures were kind of already kind of had that built in and it validated what you just said. But I also learned more of the fundamental educational, transformational components of the reasoning behind it instead of, hey, Terry, go do this, do it now. Let's go get it. I'm going to lead by example now by exception, but, you know, some of the more psychological

pieces behind it. And that helps me become a much, it's helped me become a much better real estate instructor. Good. It makes sense. So, Tony, tell me, what about 2022 are you most excited about? It's always funny. I always tell the, I always tell the joke about, I never go to the gym in January and February because it's packed. It's packed with all the people that make these New Year's resolutions, but it's only packed for two months. And you know the story just as well as I do, right, Matt? I mean, people are like, I'm going to lose weight. I'm going to do this.

I'm going to go in there and they go in. I think with the right intentions. But at the end of the day, if you don't have somebody guiding, directing, leading, you know, really showing you what to do and how to do it and maximize your efforts, you know, people quit, they give up. And I think that's probably one of the differences between, you know, maybe you and I and some others is we know that we're that close and nothing is going to get in our way. So for me, I always kind of take this time to reflect on the year past, you know, what are some of the things that

I could have done better as a father, as a husband, as a trainer. And I just make those adjustments as I go along because I think that if you're a really solid individual and you do the right things right by people. People are going to, you know, kind of lean into you more. And, you know, we always talk about, you know, surround yourself with good people and then better things are going to happen. And sometimes it's, it's always kind of sad because you got to fire a cousin or something, right, out of your circle a little bit. But I always do that. And I just kind of reflect back on the good, bad and ugly, because as much as we're doing and as well as we do in real estate. There's always the personal side. We go ups and downs and family in hospital and dealing with

things. But I'm a, you know, I'm a glass, always full kind of guy. I'm a positive guy. I like to surround myself by that. So I just kind of vision out 2022 is just a really great year to capitalize on the market and, you know, real estate specifically. I'm looking forward. I know we have some really cool stuff going on with Epic. I'm really excited about that. So I'm stoked. I'm all, I'm excited, fired up. Super, me too. So let's wrap it up and make something, let's kind of give something practical and really actionable here.

If someone wants to make 2022 better than 2021, and whether that's in real estate or whatever it may be in, because you touched on various aspects of your life, if you wanted to make 2022 better than 2021, what were the first three action steps, that easy action steps that they could take like in the next 24, 48 hours to make that happen? You know, as simple as this sounds, the first thing is established goals. People don't do that. They take more time spending a vacation, time planning a vacation than they do goals. And I'm talking about real goals.

Not, I want to do this. I'm talking about writing them down, post them up, post sticky notes all over your doggone house if you need to and get to it. If you want to start real estate, start January 1st. You know, if you want to start whatever it is, start right away. I think, so having a goal or goals, number two is no matter what, get started, because if you don't get started, it doesn't happen. And for me, I like to take things in chunks, right, chunk it out a little bit. And I tell somebody, if you're going to go into whatever it is, and real estate is an example, I want you to give it 100% for 90 days.

Take one quarter of the next year of the rest of your life and give it your best. eliminate Netflix, eliminate Yellowstone, eliminate whatever isn't making you money, and take 90 days and go kick some ass. Thanks for sitting tight while we pay our light bill. We'll be back right after this. Canada can be a global leader in reducing the harm caused by smoking, but it requires actionable steps. Now is the time to modernize Canadian laws so that adult smokers have information and access

to better alternatives. By doing so, we can create lasting change. If you don't smoke, don't start. If you smoke, quit. If you don't quit, change. Visit unsmoke.ca. Ever hear someone say, I have too much money?

Me neither. Let's get you some more. Back to the show. When will the housing market become a buyer's market? And I understand that this is really big, and it's really on the top of everyone's mind right. now because we've been in an unprecedented run of this real estate market with all the power in the seller's hands. So to help you know exactly when the market is going to shift, what

I'm going to do is I'm just going to tap into my own experience over the years and I'm going to share the little things that I'm looking at right now so you can look at the same. The first thing that I'm going to do is I'm going to define the difference between what's a seller's market and what's a buyer's market. The second thing I'm going to do is I'm going to break down the supply and demand dynamic and how it controls the market in a way that you won't hear it anywhere else. Third, I'm going to give you a good timeline as to when the market will shift from a seller's market to you, the buyer's market.

So that you'll know when the timing is right for you to pick up your next house or your next investment property so you can continue building your American dream. So real quickly, so that you know the difference between a buyer's market and a seller's market? A buyer's market is when there's more houses on the market than there are buyers in the marketplace. A seller's market, very similar to what we're in right now, when there's more buyers than there are houses for sale. And a rule of thumb on how we define this.

It's a little bit of a math equation. We'll look at the number of houses that are on the market, the number of houses that are for sale. And then we'll go look at the number of houses that are going under contract each every month on a 30-day cycle. And what we'll do is we'll take the number of houses and then we'll divide that by the number of houses that are going under contract.

And that number tells us how many months of inventory there is. So if there's 100 houses in the market and there's 25 houses that, under contract this month, you take that 100 divided by 25 and you have four months of inventory. And the big line, I guess, of demarcation between a buyer's market and a seller's market is six months. Six months or less is technically a seller's market. Six months or more would be a buyer's market. All right. So the current situation, if we're going to use that six month number, right now, we are at two months of inventory pretty much nationally. It's going to vary from location

to location, but on average nationally, two months. So it's a really, really strong sellers market. So here's the deal. And it's kind of feeding the problem here. The U.S. built one quarter fewer homes per year in the last 20 years than they did the previous 20 years, of which has created a huge deficit. Had builders continued building at that previous pace, there would be five and a half million more homes available for sale today. So to make up for this deficit, the National Association of realtors recently reported that builders would have to build 2.1 million homes per year for the next 10 years just to catch up. So that fact already puts us a little bit behind, but the problem gets a little bit worse. Builder confidence is shrinking due to the cost of goods. Cement is rising in

price. Copper is rising in price, and we all know we've seen it in the headlines, lumber is rising in price. And it's getting very expensive to build new homes. And so builders, I obviously are not going to build homes at the current price if they can't sell them for a profit. So builder confidence is really low right now. New home starts are much lower than we need. The bottom line is we have to build a bunch of homes, but we just can't build them cheap enough to resell them. So when it comes to demand, where are all of these people coming from? Because you may be under the impression, if you've been watching the news, that our population growth rate has been shrinking. Now, if you're speaking from a percentage, that would be accurate.

but if you're actually speaking by numbers, not accurate at all. The population is bigger than it's ever been. And to only compound that, we have the group of millennials that are now approaching first-time homebuyer age. In fact, the average first-time home buyer age is 31. And the peak of the millennial generation right now is 29. So we've got two years of massive demand just from first-time home buyers. And then people aren't just stopping at buying one home. People are buying second homes, they're buying vacation homes, they're buying investment properties. With the money situation that's going on right now, it's making it very easy for people to buy multiple homes. So when will this be a buyer's market? Well, as I pointed out, based on the National Association

of Realtors Studies, we're probably looking at a decade, maybe even a little bit longer, unless shelter somehow goes out of fashion. Or if builders pick up the pace. So does that mean you have to sit around and wait for a decade before you can even look at a house? No. The answer is no. There's definitely something that you can do. Recently, I moved to Vegas and I rented for a couple years just to make sure that the family liked it there. And we did. And so when our lease came up, it was time for us to move.

We looked out in the rental market and then we looked at the homes for sale and we kind of did an evaluation and it was technically cheaper to buy now than it was to rent. So we decided that we're going to make this purchase. But we knew the market dynamics. How are we going to play this game when it was such a bidding war at every single property from all of these buyers trying to buy a house? So we went about it the traditional way. We went and found a house and we submitted an offer.

And sure enough, there were 10 more offers by noon and we didn't get it. Now, we went and tried it again. Same thing happened. And I was like, hold up, hold up. We've only got 30 days to find a house. We have to do something different. So this is what we did. I called it my real estate agent and I said, here are 10 houses I just found on Zillow.

I want you to write 10 offers and submit them all today. So that's what we did. And we sat around. We waited and four offers came back. Four counter offers came back from sellers. Four out of the 10. And we looked at those four and we countered back all four of those. And then two actually sold the properties to somebody else.

And we were left with two that actually got accepted. Then once they got accepted, now we actually went out and looked at the houses physically. And then we decided which one that we wanted. And then we canceled the contract of the house that we didn't want. And then we stayed with the house that we did. So essentially what I did is I took my real estate investing strategy and just applied it to my own primary residence. Because when it comes to real estate, you've heard this expression probably before. It's all about location, location, location.

But when it comes to real estate investing, it's all about offers, offers, offers. So I get it. The market is hot. And it's probably going to be that way for a while. The power is probably going to be in the seller's hands for a while. But that doesn't mean that you should wait because you could be waiting for a very, very long time. And I've gone into great detail as to why that could be a really big mistake. But the bottom line is, the average homeowner, regardless of when they purchase their property,

will ultimately end up 40 times wealthier than those that never. never purchased a property at all. And based on the current market conditions, that could be rather troubling to hear. I get it. But waiting for this market to shift to a buyer's market could be even more troubling and cause some real damage to your financial future. But there's more that you can do other than just writing multiple offers to shift this market into your favor. It might make sense for you to start looking for properties off market. We'll be back with more right after this. Boarding for flight 246 to Toronto is delayed 50 minutes.

Ugh, what? Ojo time. Play Ojo. Great idea. Feel the fun with all the latest slots in live casino games and with no wagering requirements. What you win is yours to keep groovy. Hey, I won!

Feel the fun. The morning will begin when passenger fisher is done celebrating. 19 plus Ontario only. Please play responsibly. Concerned by your gambling or that if someone close, you call 1-8665-3-1-2-60 or visit Commexonterio.ca. And that wraps up the epic show. If you found this episode valuable, who else do you know that might too?

There's a really good chance you know someone else who would. And when their name comes to mind, please share it with them. And ask them to click the subscribe button when they get here and I'll take great care of them. God loves you and so do I. Health, peace, blessings and success to you. I'm Matt Terrio. Living the dream. Yeah, yeah, we got the cash flow.

You didn't know, home for it. We got the cash flow. With Amex Platinum, $400 in annual credits for travel and dining means you not only satisfy your travel bug, but your taste buds too. That's the powerful backing of Amex. Conditions apply. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com.