KGCI: Real Estate on Air - Power Half Hour with Kyle Ngo

Episode Date: July 2, 2024

Welcome everyone to the Power Half Hour. Today we have a very special guest on one of our very own. I met this great agent out in Seattle, actually, in 2017 at Thatch Wins Springboard to Wealth event and been keeping in touch ever since. And we actually got to partner together here at EXP, I think starting 2020. So today, I would love to find out more about who he is. great agent out in San Gabriel Valley. Mr. Kyle Ngo, welcome. Thank you. Hi, everyone.

Is this San Gabriel Valley or San Gabriel? Just San Gabriel. It's the city of San Gabriel in San Gabriel Valley. Oh, got it. So I wasn't wrong. Yeah. That's awesome. Awesome, man.

Hey, Kyle, you got to share with everyone here, the audience, your story. How did you get started in real estate? And what was that journey like until today? Yeah, you know, I started as a realtor in 2002. So I graduated in 2001. And, you know, at that time, graduated college. I was just wanted to get a job, right? After college got a degree.

And I had gotten hired at Countrywide Home Loans. What's that? Countrywide home loans. Countrywide home loans? Countrywide home loans. loans okay yeah no no we don't have it here but okay so it was like what it was the biggest mortgage company back then but now they're gone yeah yeah um so I got hired there and then my friend introduced this book to me called Rich Dad

Fordad right yeah and I read it I read it in three days and I'm like I'd never read in college you know yeah me either same thing yeah that's crazy is really good but I'm going to go to this job. I went to school for this. Let me just focus on that. So I kind of put it on the side and then I started the job and try to climb the corporate ladder.

And then maybe three or four months in, I'm like, this corporate ladder, I don't know, you know. Then I got one of his other courses and I'm listening to audio while I'm working about reset for that. And I just, that information from him really got me to want learn more about real estate right and I want to learn more about investing in real estate and then to create passive income yes so I say we become a realtor so I can learn how to do that yeah right so about 10 months in I I quit my job and

became a realtor and most realtors don't invest by the way that's true right so that's how I started started off part-time I did it for two months just nights and weekends and then went full-time and, you know, got a good head start. At that time, you could do loans and real estate. Oh. So I had some workers looking to buy and just referral base and then, you know, had a couple transactions like, hey, this is easy. Yeah, yeah, yeah.

And then I'm going to drive for the next eight months. Oh, my goodness, really. Yeah. It's like, hey, it's not as easy. It seemed, right? And I had no direction. right there was no mentor uh there's no one really there's like top agents in the office but right they're really themselves yeah um you know and i was i was young 22 year 23 years old

wow didn't really have a coach or any training besides my broker manager who teaches the contract stuff but right no sales skills right um and it was kind of a struggle in the beginning um yeah And then I was really up and down. That's kind of how I started. Right. Wow. So you and I have the exact, kind of the exact same story where we read the book exactly the same year 2002.

We read that book at the same time. What you did that I didn't do was actually jump into it and start real estate. I procrastinated four years until 2006, then started real estate. But you jumped right into it, which was good. good. Obviously, you had to struggle a little bit. And then obviously, 2003, four, five was easier because the market was on fire in the States. This is what I've heard. Six, seven, eight. What was that like for you? Yeah. So, six, seven, eight. So six and seven was still pretty good. Oh. Right. And then when eight happened, you know, I was almost,

it's like, okay, I'm getting ready to maybe get out of the business. Yeah, yeah, yeah. Yeah. And I was really blessed. I had enough kind of connections and people that I knew. And then I was able to land an REO account. Wow, okay. I didn't know this.

Yeah. So I land an REO account. And I was basically helping the bank, like knocking on the doors and bring extra keys and scheduling, clean it, clean out, you know, working with evictions. So canvassing these homes that, you know, are in default. Yeah. So basically 9, 10, 11 was quite good. REO, just REO.

Yeah. Mainly REO. So back up a bit. I mean, you said, you know, I kind of got lucky in an REO account. I want to know what really happened because I don't believe in luck, really. And you were back then, so 2008, you have been in business six years, right? So how did that REO account come about? I guess I mean it's just who you know I guess right so yeah I've been in the business for

about six years so I have a relationship with a friend who is a financial advisor at Washington Mutual at that time now is Chase and he has a friend they hang out with in like what is this called like Seema like car car racing car you know stuff and one of the guys there is his friend of his who's an asset manager at a bank so and then they made the connection so I interviewed for it I think they consider a few different agents and they he ended up going with me and I made sure that was my client I was like hey this is really opportunity here so I got to make sure they're happy right that's awesome

whatever you need it out there yeah you you service that account to the fullest I'm sure like because everybody else was like starving at that time the few agents that made it through the 2008 financial crisis unscathed were the people who landed their REO accounts but I do believe that because you didn't quit you said you wanted to quit almost had to get out of the business because you didn't quit that opportunity showed up yes right so so so so but it was tough in 2008 right yeah it was until that happened until happened yes yeah yeah I remember it was just like it was it's like man like what's going on right yeah I had all these investments and I was over leverage and the

market dropped that too right so I had a short sale had some foreclosures wow stuff so then that was like man like and my credit was so important to me at that time when I had to let it go was like something you know about me like that's not right Right. So it's tough. I think a lot of people's going through that stuff at that time. For sure. And when you accumulate that many properties,

how many did you have during that time at the height of it? Like 15 properties. 15 properties at 28 years old, 26, 27, 28 years old? That's crazy. So you were over leveraged, right? And you had to sell some of those even short sales, correct? Right. What was that mindset like, you know, man, I screwed up or like,

you know what would you say to yourself during that time when you had that setback yeah you you feel kind of like a loser yeah that's what i'm yeah that's what i'm eluding to yeah so how did you get yourself out of that because you can beat yourself up pretty quickly right like you're going backwards you know yeah you know i think you got to just really um reflect right think about what we're grateful for what we're appreciative of what's good in our life I mean, we can't get that to that space right away. Yeah. It's some time of just being in your shit.

Like, right? It's just sometimes we have to be in there for a little bit. And then we know, hey, there's no way else but to move forward. Mm. And then you just kind of take steps to move forward. And then after a while, you realize, hey, these are just learning lessons. Mm. Right.

And then when you, when you hear about successful people, many of them have foreclosures or bank bankruptcies and it's part of being a business person. I love that. Um, so I just take those odds learning lessons. Did better when the market started turning. Yeah. Um, conservatively, you know. Yeah.

Yeah. Wow, that's great. So, man, um, I love these stories. How everybody got through 2008. I should write a book about that. Like, you know, everybody has a different story. Um, but what I heard there was really, um, you know be in that feeling for a bit but don't stay too long there and just start to become

grateful for what you have instead of focusing on what you didn't have or what you lost because you could spiral down pretty quickly right now yes yes and then when you stay grateful I knew that I know hey right now may not I'm in the eye of the storm yeah like at a moment but there's always going to be a light at the end of the storm I just kind of know that hey, there's lights there. It's a matter of when, right? Yeah, this. I said it's weather the storm right now to break through.

I love that. This two shall pass and there's always late at the end of the storm. Always a rainbow after the rain, right? So just keep at it. But why do you think most people give up? They just quit. You know, so, um, I don't know. It's a good question. I think sometimes you just don't hang in there long enough.

That's part of most. Don't hang in there long enough. I think is, I'm done, I'm done. Right. And sometimes it gets to that point where you're almost going and you just stay a little bit further. Yeah. Thank you. And we don't know that little bit further is because it could be another year or two or that we kind of hang in there. It's an unknown and it's scary right but I think 100% of the time when I see agents that really stick it out that stayed and didn't quit they always come out of the other side successful and has made them stronger as salespeople stronger as human beings right they just get tougher and like you said these are just learning lessons so if you're going

through a hard time right now you're listening to this it's only a learning lesson and this two shall pass it's only a matter of time till you break through it's not if you will but but if you quit it it won't matter right so now take me take me from 2011 um all the way to now like what what's been your journey like yeah good question so essentially so after i got the rio account and then that kind of dried up yes in 12 i think right yeah in 12 it dried up and and then and then i started going back to just basically how i was before right and i was doing like six years seven deals a year oh no yeah and i'm like okay what do i do next right and this is in 2012 and i'm like i remember talking to my wife i'm like man i've been doing this for 10 years at this

REO account but now REO is dried up. Yeah. Like, I expect it to be by now. Right. Like, what do I do? So, am I even meant to be a real? Wow. Listen to this, guys.

Ten years in, you're still wondering, am I meant to be a realtor? This is 10 years in. You guys quitting at 10 months. Right? At 2011, I had that conversation. I actually had, I had applied for, for a job to work at the gas company to be an inspector in 2011. I didn't get hired.

So a blessing in disguise, right? I had to make some sort of change. And I came across thatch around that year. And I was listening to this stuff and the law of attraction and building advocates. And I really changed my business instead of like what's in it for me. and serve clients. How do I build a book of business? Actually, advocates.

I was like, what does advocate mean? And so I moved offices. I joined a different office to make a change. And basically, I was really working with a lot of buyers, doing a lot of houses, doing evening events, just getting myself more in front of people, build advocates. And I really just practice connecting with people, go above and beyond, delivering while through service.

And then, you know, Walt Disney has a great quote where he says, whatever you do, do it so well that they keep coming back and they bring their friends and family. So how do I model my business to create that, which is similar to building an advocate? Yeah, it really is. Yeah, and then once I, and it's just about solving problems, right? And I remember this advocate started building. I remember we had a for sale of, how do you say, foreclosure seminar. And this one lady talked like, there's no good agents in San Diego Valley. I'm a cash buyer.

You know, no agents want to help me. And I'm like, what's going on there? Like, what's why? Right. So I knew I needed to talk to her. And she had to leave early. I was leaving. I got her number.

and to call her, talk to her about that. And then when I called her, at that time, she was looking for anything under $100,000, all cash looked for an investment property. And my initial thought was, no wonder why no agents talk to you want to talk to you, because there's nothing at that price point, right? But I only had it in my mind.

And I said, what can I learn here? So I asked her, I was like, have you seen properties that are less than $100,000? She goes, yeah, like in Pomona, in certain areas. So I did a quick search. I found three properties. I went to go show her on Thanksgiving. And then, like the day before Thanksgiving, and she liked one of the property, it was $84,000. I negotiated down to $75.

I'm on the phone. And she's telling me, hey, it's okay. It's only $80-something.000. I'll just pay. I'll just see what I can get it for you. So anyhow, I structured it all, got it for less than what she was okay to buy it for. And then on the ride home, she asked me like, why are you working so hard if it's for just a small deal? Mm-hmm.

And I say, hey, it's not about the size of the deal, it's about do what's better. Mm-hmm. Right. And that was kind of when I started realizing, hey, that's kind of what building an advocate is because she started, she referred me to a client. And the kind of didn't call me, but she went, she invited that person to lunch to have that person call me in front of her. Oh, wow. Because she was a good resource. And then from that chain, it's like, I mean, from there until now, it's almost 30 to 40 transactions just in that tree.

Just from that one person. That one person. Wow. Yeah, they kind of. So this $75, $80,000 sale turned into 40 transactions. However, let's just say it's $10,000 per check. That's $400,000. My goodness. Building advocates, guys. And it doesn't matter what price point it is. You go out there and serve.

But why do we have such commission breath all the time? What do you think? Right? I know. I think it's just because we want to make the money. We want to make money. And people are thinking, how much money can I make? That's crazy. So for young guys and gals listening to this, don't focus on the money. Focus on providing the best service possible. Focus on taking care of the client. Then the money will come as natural progression of you providing a great service. And if you're not making any money, that means your service sucks.

Am I right about that? Yes, for sure. Oh, man. So that's how you build the business, guys. That's how Kyle built it until today. But today your business is a little bit different. Now you've got a team, right? Yes, now I have a small team.

Tell us a little bit about that. How is it structured? Yeah, so I have a small team. I work with my law. So we kind of just work together in that regards. So I kind of bring the business in just with my book of business. And if there's clients, I really want. meet to work with them, then I work with them.

If not, then I have my sister and brother-in-law handle the clients. Awesome. And we continue to kind of nurture and stay and connect with them and provide a certain level of service and continue to have a detailed and referral business. Yeah, going above and beyond. What else do you think is quote-unquote excellent customer service that you are now teaching, you know, your sister and brother-in-law?

to service the client. What do you mean? What does that look like, right? Yeah. So it's really, number one is deliver while through service. Mm. Right? Quick responding quickly and care.

Really care about. Mm. Right? What they want? What is their goals? How do you protect it? How do you take care of them? Treat them like family.

Mm. Right. The process that I use that I learned from batch is the gift process. So step one is we connect, connect deeply, right? And then step two is you figure out what they're up to. And these two parts really important because you want to connect with them, understand their wants and needs, right? And then when you understand that wants and needs, you got to continue to have a conversation

where you know that they know, you know what their wants and needs are. Wow. Truly listening. Truly, fully listening. Then before you even try to help them or sell them anything, they already know that you're listening to them. You're hurting. They're already so comfortable with you.

So the presentation itself is just a formality because they're already there to work with you. I love it. So, wow, really the presentation itself, you know showing the comparables or pre-qualifying that's like that's already like at the end of everything it's connecting deeply and really understand that that you know that they know that you know what they want that's tough it is it's it's applying to right because it's it takes a lot of patience a lot of listening right a lot of listening and applying to and understanding the dis personality type that we're talking to right and I always do

mirror and match um right when I'm talking to someone to make sure they're comfortable wow yeah it's just six practice you know yeah yeah yeah well I mean now now you're 20 years in the business 21 years actually new agents you got to practice and role play and mimic and you know look into NLP if you you can. This is a crucial part of communication. And the more you learn, the more you earn, right? And what I'm hearing right now is that before you go into the scripts of pre-qualification and closing the sale and listing presentation, you've got to connect deeply and really truly understand what they want to achieve. And if you can deliver exactly that, the presentation

itself is a formality, like you say. So I think that's brilliant. Thank you for sharing that. So now that'll be. Go ahead. That's basically step three is we, our presentation, step three is to contribute to them. Right. And if they're looking at by our cell, our system, whatever we're doing, we should feel totally confident that we're going to be contributed to them, to their goals, based on what we're doing, how we do it. And then with that step four is you wait for the miracle to happen, whether you get their business now or something good will come from. elsewhere yeah truly connect deeply understand what they want then contribute and then

you got to let it go like the once you do that you have to let everything because you've done your best then they'll they'll you need to let them come so to speak yeah yeah they need to oversell them at that point it's like hey you gave them everything that you show that you care they you understand them they believe you understand them and you know that what the wants and needs are can help them right that is really key yes sometimes you may not need to prospect as hard as you think you need to because when you do more conversations you might not need to talk to 50 people to get the same results you know what i'm hearing right now is you may you may want to listen more which will take a lot of time

and patience, but it will get you the same results as if you're just going through the motions, right? So I think that's all I'll learn from is go deep with people, don't go too wide, especially in today's market like this. So now that you build a team, your, you know, work time. Yeah, I spent a lot of time with my daughter. I pick her up from school every day. Work time, you said.

Well, I kind of, how do you say, I'm enjoying more of my time than that. then before was just all work which was great I built the book of business yeah now and you know so now now it's enjoying my time freedom and I want actually I want to get each an attraction and and build that so yeah I love that man and you know um your your daughter is what the eight years old now seven oh seven years old okay so I got uh I got more time freedom to spend uh with my two little ones and I really relish on that. That's so good for you.

Yeah, leverage yourself so you can spend more family time. I really like that. What's next? What's next for Kyle? You know, what's next for Kyle? To thrive in real estate and help my more income and attract more agents and see agents that I can help. Yeah, that's amazing. Dude, you're so calm all the time.

I mean, very kind and non-emotional demeanor. Or did you develop this through years of the grind? I'm sure for all, I've been pretty calm. But throughout the years, it's gotten better and better. How do I say? I always have that personality. But in terms of real estate-wise, when I first went out on appointments, there's so much nerves, right?

Yeah. But now it's just I know what I need. I just got to listen to them, understand that I understand. Contribute. I love that. So, you know, how I built my career was through massive amounts of numbers, calling actions for a long, long time. It was not until I actually started. The ratios went from 100 contacts of one listing taken.

It was through like, you know, two to three years only. But I really learned to just connect deeply with people. So I think everybody has to learn down. do we have to talk to a lot of people to succeed what they want if you combine the two a lot of numbers with some empty unstoppable right then you couple that with social media and whatnot you're just going to dominate um kyle for the audience to 2023 and going into 2024 what do you think oh right if you really want to go get it learn as that someone find someone that's already successful. It's so simple, isn't it? Find a mentor, get a coach, find a mentor, and just

never keep learning so you can earn a lot more money. So, man, phenomenal sharing your story. And I think a lot of people can take and learn from what you share today to go and crush 2023. How can people reach you if they want to join your team? On my Instagram, Facebook, if you want to give me a call, my number is 6268. Perfect. Again, 626.