Money Rehab with Nicole Lapin - Why Nvidia Dragged The Market Down & Jade Shenker (Owning Manhattan on Netflix)

Episode Date: December 10, 2024

This week Money Rehab is being guest-hosted by Peter Tuchman, trader on the floor of the New York Stock Exchange and host of the MNN podcast Trade Like Einstein. Today, he breaks down the latest news from the markets: why Nvidia fell and took the market with it and what events this week will affect the market. Plus, in the second part of the episode, you'll hear Peter's interview with Jade Shenker, commercial real estate agent and star of Owning Manhattan on Netflix. In their conversation, Jade talks about how she's disrupting commercial real estate, why reality TV and real estate go together and how The Village Voice kickstarted her career. Subscribe to Peter's podcast Trade Like Einstein wherever you get your favorite podcasts. Follow Peter here. Learn more about Jade Shenker here. Recorded Monday, 12.09.24. All investment strategies involve risk of loss. The content you hear on this podcast is for entertainment purposes only and does not constitute financial advice by our hosts or by Money News Network.  

I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated. If say you wanna put your summer home in Maine on Airbnb, but you live full-time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that.

If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time to make my

house look guest-friendly. I guess that's the best way to put it. But I'm matching with a co-host so I can still make that extra cash while also making it easy on myself. Find a co-host at airbnb.com slash host. You know, there was this one time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future, that's when it hit me. It was time to get serious about my money. We've all had that moment, right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves.

That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances. With no monthly fees, no maintenance fees, and fee-free overdraft up to $200 with SpotMe. Imagine overdrafting and not having to worry about fees piling up. Chime's got you covered. Plus, Chime isn't just a financial tool,

it's a community. You can get boosts from friends to temporarily increase your SpotMe limit, and when you help someone out with their own boost, they can return the favor. Friends helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just 2 minutes at chime.com slash mnn. That's chime.com slash mnn, as in Money News Network. Chime

feels like progress. Banking services and debit card provided by the B Corp. NA or Stride Bank NA. Members FDIC. SpotMe eligibility requirements and overdraft limits apply. Booths are available to eligible Chime members enrolled in SpotMe and are subject to monthly limits. Terms and conditions apply.

Go to Chime.com slash disclosures for details. I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Hey, everybody, it's me, the Einstein Wall Street from the floor of the New York Stock Exchange. What a great day to be alive and to be in this market. Ladies and gentlemen, I'm going to be your temporary host

sitting in for Nicole Lapin of Money Rehab as she is on maternity leave. Let's all wish her health and happiness for her and her family. It's a beautiful thing. So stay tuned. We're gonna be doing episode after episode every day of what the heck's going on,

giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024, in food, in fashion, in finance, and fun. We'll be seeing a lot of you, so stay tuned. Three, two, one. Hey everybody, it's me, the Einstein of Wall Street.

We are here with Trade Like Einstein. I am Peter Tuckman, and we're here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day. Somebody with my long-term experience, I've been here for 137 years, it is my responsibility to help teach you how to navigate this market successfully.

Boom! Hey everybody, it's me, the Einstein of Wall Street from the floor of the New York Stock Exchange, right under the podium, forget about it. how to navigate this market successfully. Boom! thing a monopoly story and so there's some major accusations against Nvidia which has been best of breed Jensen best of breed for the whole year it's carried the whole market it was the first time there was really any kind of bad news on it and you know how one stock can really drag down the sector and that's what it did it took the Nasdaq down we broke a winning streak in the Nasdaq but it's a day a day doesn't make a market a week doesn't make a market so the market was all red throughout the day I think we closed down around 25 handles on the S&P.

Friday we traded and closed at record highs. We had the economic data we were looking for. Unemployment did tick up a little bit and that was majorly a function of the hurricane and some strikes. That was up from 4.1 to 4.2. But still, the trajectory has been great with employment and the numbers have been good. Payroll numbers 277 versus whatever last month we only had 12 to 14 000. This month we're back into the hundreds on jobs created non-farm payroll jobs. Right? I'm trying to get the psychology and the mental the mental state because you know when you go home after listening to me you're going to hear everybody in the mainstream media talk about oh my god it's over, it's selling off,

it's the beginning of the end, blah blah blah, but that's not necessarily the case. When we see markets roll over it's a lot different than what we saw today. Today's red action, today's sell-off in the market, look it wasn't even a sell-off today was perfectly honest 25 handles the S&P is kind of a pebble in your shoe right and so you need to understand that we've seen there are some stocks that are so powerful in their sector and in their index that they can actually contribute to the whole market going up or the whole market going down the reason in Nvidia is the stock it is today may get impacted on the monopoly story, but for the most part, nothing fundamentally has changed.

Stocks that got hit today that are not NVIDIA, that are not going up against a monopoly charge, this is the kind of day that is an opportunity when the baby gets thrown out with the bathwater and stocks get sold off in an index or all over the market because of one particular stock and everybody starts dumping stuff,

then that stock that you didn't want to pay top dollar for is trading at a discount down $5, down $10. That's the time you have your shopping list. That's the time you see the opportunity. You should have a bell flashing, a light flashing in your house. Ask yourself the question. I think like put and post it's all over the place. The rules, right, about never turn a winning trade into a losing trade. Always having a plan when you get into a trade. Using technical analysis and risk management when you get into trades.

Always protect your downside risk whether it's an investment or a trade. We've got plenty of wild cards. We've had quite a wild year, right, between the whole polarity around the election. You've got two wars going on. You've got the whole thing in the Middle East and oil and all those things. Yet the market has continued. Yet, Friday, one trading day ago, this market closed at record highs across every industry. That is crazy. The S&P is up 27% for the year. The economic data that

came out this last Friday was spectacular. Now, all that being said, we've got CPI, PPI this week. Very important flag, economic information that is the inflation target that basically the Fed will make its decision. The wonder is are we gonna trade the year, are we gonna close out the year at record highs? I can't tell you the market's gonna go up, market's gonna go down. I cannot tell you for sure that's going to happen. But the market tells me on a day-to-day basis throughout all the things we've seen this year that there is so much money on the sidelines,

people who haven't jumped in yet, who are jumping in. People are putting money to work, they don't want to miss this boat. So many of them have missed the boat, whether it's in crypto, in equities, in the S&P, in tech, right? Because nobody ever wants to pay the high end all year, every day, every week, every month, this year. We've had 57 record closes this year, every day, every week, every month, this year. We've had 57 record closes this year. Imagine that. I don't have any trading days that are in a year, but we've had 57

record closes this year at the New York Stock Exchange. Isn't that crazy? So it's like, I don't want to pay the high, but I'm sitting around watching. Today's high may be tomorrow's low. Right? So look, there's always opportunity in markets. There's never a bad time to buy the market. If you're thinking about a long-term investment, disclaimer across the board, I'm not your advisor. I'm just trying to get you into the right mental state and psychology of the learning how to trade and invest correctly, taking the emotion out of it.

Your first trade, if you are making an investment in a company, do your homework. Check out the company, the four P's. Process, product, profitability, and the people. That's what makes a good company, right? I learned that from Marcus Limonis. That's what makes a good company, okay? But look into the company and if nothing's fundamentally changed when the market pulls back and you don't you've been Holding off on buying the stock because you didn't want to pay record highs have your shopping list and jump in there, but Make a determination how much you totally want to invest in that company and may your first

Dive into that company be your smallest and then add on if it goes up add on going up if it comes in Average into the stock. That's the only time you ever average into a stock smallest and then add on if it goes up add on going up if it comes in average into the stock that's the only time you ever average into a stock anyway ladies and gentlemen it's a beautiful day here even though the market sold off these are days where it's it's fascinating to see how everyone talks about it how the other parts of the market sort of fall suit when we do sell off we haven't had that many I mean literally we've had seven eight at most I would say we've got you know you can count them on one hand if you had seven fingers. How many times we've had any kind of consolidation sell-off correction this year at all and I don't

even think we've had a correction. We surely haven't had a crash but we've had a couple of pullbacks that a couple were significant right but I've talked about it we had in April seven pullback normal after the best first quarter since 2019 May and June everybody talked recession depression all that stuff that didn't happen July a little bit of a pullback August 5th the black Monday crash in Japan. That was a very complicated trade I've told you all about it a million times September first week the worst week for tech since COVID the second week of September the best week for tech since COVID, the second week of September the best week for tech since COVID. I think that little scenario, that little tidbit basically describes this year that in September, the first week of September,

it was the worst week for tech since COVID. That's a huge, that's a mouthful of a statement. And then week two of September was the best week for tech since COVID. All in one week. You can have a completely blocked bull market. It used to take 10 years, generations to happen. We can be in a bull market at 11 o'clock and we can be a bear market by the time the market closes. That's the way this market is, the accelerated pace,

the news cycle, it's extraordinary. Anyway, I'm gonna wrap it up. I love you all. It's a great day to be alive. It's an amazing market. Wake up, find some kindness and gratitude in your life and your attitude, right? And take seriously this market. I need people to invest in stocks and not stuff. I want you all to consider your life and your life's goals a portfolio and build it with in a responsible discipline, consistent fashion. Anyway, I wish you all the best. I love it here.

It's a beautiful day to be alive. Bing bong, Shotzi, I'll see you later. Hold onto your wallets. Money Rehab will be right back. I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if say you to put your summer home in Maine on Airbnb,

but you live full-time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high-quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but

sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co-host so I can still make that extra cash while also making it easy on myself. Find a co-host at airbnb.com slash host. You know, there was this one time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money.

We've all had that moment, right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances. With no monthly fees, no maintenance fees, and fee-free overdraft up to $200 with SpotMe. Imagine overdrafting and not having to worry about fees piling up. Trime's got you covered. Plus, Trime isn't just a financial tool. It's a community. You can get boosts from friends to temporarily increase your SpotMe limit. And when you help

someone out with their own boost, they can return the favor. Friends helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just two minutes at chime.com slash mnn. That's chime.com slash mnn, as in Money News Network. Chime feels like progress. Banking services and debit card provided by the Bancorp NA or Stride Bank NA. Members FDIC. And now for some more money rehab. Hey everybody, now that we've done the wrap up on What the Hex going on episode 9,487, please stay tuned for one of my favorite interviews of the year from 2024. It's coming right at you. Hey everybody, it's me, The OnestandardWallStreet from the

balcony at the New York Stock Exchange. You know I bring you food, finance, fashion, and I've never brought you real estate before but today is something special. Okay, I'm here with Jade Schenker. Schenker like Schenker. Like Schenker, like Schenker. You don't even need to think about it too much.

Look, let's go back probably five ten years ago I'm sure you've all watched million dollar listings. I know I used to binge watch it with my son, right Ryan Serhan Let's talk about it. New York real estate retail commercial anyway This wonderful lady who I recently met is a ground breaking commercial real estate agent Okay, but she's so much more than that. We're gonna let her tell her story. It's a human interest story in so many ways.

You know I love to let people tell their stories about how they got here, what it was like, what it's like now, and what the future looks for them. We're here on the floor of the New York Stock Exchange. There are thousands of companies here. Many of them are in the real estate space, whether it's REITs, Real Estate Investment Trust, whether it's huge companies that are commercial

real estate companies and what not, but it's all about the deal, right? It's all about the deal, making a deal, making bids, making offers, that's what's exciting. That's what gets us up in the morning. We always tell you, I always tell you to go out there and find something you love to do, get really good at it, and then you will never work a day in your life. And I think that's what we have here with my new friend, Jade.

Welcome. Oh my gosh. Well, thank you for having me. Okay, that is, I think, one of the best intros I've ever had. So thank you. And this is probably the coolest place I've ever been. I mean, just the photos that you were showing me upstairs, I feel so grateful, especially because women who weren't allowed to vote were here and women who weren't even allowed to have cigarettes, right? Is that right? Correct. And think about it. So this building was built in 1903. They started trading outside this building in 1650. Already in the 1650s, there were 26 brokers that used to trade commodities on the bottom of Manhattan.

So Wall Street used to be, there was a wall, and above the wall was just forest. And that's where George Washington was inaugurated. But this is the heart of the financial district. You loved the deal, the art of the deal. So let's talk about it. Tell me a little bit about you. Well, I am a commercial real estate agent,

and I'm also in the reality TV space on a show called Owning Manhattan on Netflix with Ryan Serhant and a bunch of other real estate agents. And I'm the only commercial agent, and the reason that I got into it was because my family, I come from a long line of real estate developers, and they've always been male, male, male. And I mean, since I was a teenager,

all my dad taught me was there's always a way to get something done. So I mean, I would cold call. You probably remember this, but the Village Voice, before there was Craigslist, before there was any sort of internet presence. Classifieds in the back, there were few pages. Yeah, exactly.

Yeah, it's very cool. And he used to have me go through the Village Voice to do for sale by owner and try to negotiate these deals when I was 14 years old so I always saw an opportunity to be like okay well number one How do we get a deal done right? How do we understand the other person on the side of the deal and what they need in order to get it done? So being a little bit more intuitive to that and then also how do we take a building especially in a market like right now? intuitive to that and then also how do we take a building especially in a market like right now that it's a commercial stuff you know commercial is

not at the place where it was in 2019 where you know everyone was leasing at office space the world changed about we work I mean think about how that's changed think about how COVID changed all that and the whole landscape of the real estate market yeah and coming from an owner's perspective I've always been so frustrated because I'm like well you, you know, we have this building, we have these spaces, why aren't we marketing it in a way that's hitting people globally, that's actually getting people's attention? So I saw Ryan Serhant's way of marketing and, you know, doing YouTube and videos and having events and I was like, well, why aren't we taking this amazing residential approach?

And why don't we bring it to commercial? Because commercial is what, like a two or six trillion dollar industry. Why has no one done that? And I was like, well, okay, let me try. And I mean, the faces I used to get from other brokers, they're like, oh my gosh, what is she wearing? What is she doing?

But I'm like, well, well, your opinion is completely valid and I understand that, but you're talking about it, right? So you're not talking about that other building. There's no such thing as a bad review. If somebody's talking about what you're doing, then you're getting a point across. Exactly, and what I saw was the more people talked about something,

the higher the SEO was on it and the shares. And you know what, it just takes one person, one person to be like, wow, okay, that girl who threw an event in that commercial space, that commercial space actually, you know, this person's looking for a commercial space. Can I connect her? Or you know what, I actually like that she brought

130 people to come see this building, or her YouTube video hit 1.5 million people between the United States, South Africa, Dubai, Israel, and maybe she is onto something. And that's what I kept on doing. And I was like, you know what? I'm just, I'm going to listen to my gut. And I know what I'm doing.

And I kept on doing that. And we were able to put a lot of buildings into contract at record, record prices. I mean, even like last year, I think the average price per square foot in Union Square was like 600, anywhere between four and $600 a square foot. We sold a commercial condo for just under $1,300 a square foot because we- Just doubled it.

It's crazy, you know? So I know that it's still early and people are still adopting this new way of marketing. Is this a new way? So tell me, I need to ask. So look, I read about you. I just wanted to find out more about you. And there are obviously stories about your dad, right? So tell me that. Give this a new way? So I need to ask. So look, I read about you. I wanted to find out more about you. And there are obviously stories about your dad, right?

So tell me that. Give me a little. I mean, you obviously, do you have siblings? No, I'm an only child. You don't, so you're an only child. I'm an only child. So are you the daughter that your father had that he really wanted you to get into the business

he was in, but he wasn't sure if it was gonna be a business that a woman could break into? Yeah. Or were you the son that your father never had and it was a different thing? Tell me about that. into, or were you the son that your father never had, and it was a different thing? Tell me about that. Because we all are a function of our family,

like my father, Eastern European Jews came to America after the Holocaust. I was gonna be the doctor that he went on to become. It just wasn't my calling. Tell me about that for you. And obviously growing up under your father's, like he was a real estate person. Yeah, yeah, yeah.

So same thing, my grandfather and my great grandfather, they came here from Eastern Europe, from Holocaust, and they were very strict. Were they in real estate? They were in real estate. They were already way back. Wow. So early part of the century. Early part.

And then they came here and my dad was like, you know what, there's something to lower Manhattan's. And that was whenever East Village was like super, like in the slums. You could buy a building for a hundred dollars. Yeah, exactly. So he bought a lot of things in the East Village, in Little Italy. And the UAE and all that.

Right down the street on John Street. So what year was that? That was in the 70s. In the 70s, okay. So he bought like. That was just when people started buying things in the United States. Yeah, a block for half a million dollars.

Yep, you could. And he went against the grain from the family, because they were more conservative. And back then he was dealing with the mafia, he was dealing with artists who were shooting things. It was just like crazy things. If you think about the Lower East Side in the 1970s, that's Andy Warhol, Basquiat, drugs, you know, just store fronts, building fronts. I used to be able to walk down Avenue A and there was literally, there was just, it was just rats. There was no nothing. The buildings weren't even there anymore. It was just the facade and people and bums living behind there, right?

And nobody had the vision. Obviously your dad did. Nobody, if you ask anybody, we're not going to touch this with a 10-foot pole this is going to be dead forever there's no future to this neighborhood and if you think about it now it's like why didn't I think of that I coulda woulda shoulda like that mentality so your father did that yeah amazing is that I mean it was crazy but his stories I mean dealing with dealing with people who weren't paying rent that that we're gonna hit him with a baseball bat and dealing with that you have to have a chutzpah. Yeah, huge. You know?

The Schenkers have chutzpah. Let's be clear about that. You have to have it. And he always wanted a boy, you know? Like, there you go. Yeah, he always, he always wanted a boy. It's okay. And my family is males, males, males, males, males,

and you have to keep the family name as well. Yeah. And he had a girl. And he was like, okay, well, it's different. And the way I was raised was okay, because I'm an only child, he had to teach me the business because that's, you know, you have to. But at the same time, it was always well, you know, Jay, you don't have to work and get married. And I got married early. I did. I got divorced early too. There you go. Give me five on that one.

You know, and it was... First in, first out. Let's go. Life of five-fold. That's the way to go. I think it's... Honestly, it was a great learning experience. When you come to negotiate it, you know, I turn my real estate brand on and I'm like, okay, well, let's really discuss how to get a deal done. Whether it's that or separation, whatever it is. But, you know, I think- You got out of that deal.

You got in, you got out, let's move on, let's go. It's good, I have it under my belt. And I think at an early age, I was always just trying to be like, well, how do I prove to my dad, number one, I know what I'm doing, and I understand, I have a competitive advantage because I listen and I'm creative,

and I'm not afraid to take a risk I actually I seek risks and I'm like well, you know if someone is doing something a certain way there's always a way to get better and do things differently and Because I've I'm very confident in that space. I'm like, you know what what's needed what what's needed on both sides And I kind of saw spaces aren't being marketed to the capacity they can be right commercial commercial yeah specifically we know the sorry to interrupt you but we think about think about the whole real estate market think about just residential real estate how it's marketed I'm sure everybody who's watching this has watched some kind of a real estate show whether it's a million

dollar listings in New York or out West I I mean, you stage an apartment, right? And you do it in a different way. So residential is always way different than commercial. So you've taken the commercial thing to a whole other level. I just want to talk about your confidence for a minute because that's something risk, first of all, confidence, another thing. These are things you can't really teach somebody, right?

I thrive on risk and it gives me confidence. That ability, I started here on Wall Street in 1985, some people say 1885. That sense of the adrenaline around this place, the excitement, the risk, the chaos, I thrived on that. For me, that was where I found my energy and I found my confidence. Some people shy away from that. Some people need to wake up, have a coffee, read the paper before they do. You seem to sound, you seem to me like somebody more like me. You come out of the gate, you're like a thoroughbred horse just running for it because you just know what you want.

Right, you found something you love to do. Yeah. You'll never work a day in your life. Oh my god, I love it. I always say it's like, and you probably know it more than anyone, it's like I don't believe in work-life balance, I believe in work-life integration. So integrating every aspect of your life into your work. And I love, that's why whenever I met you I was like, I felt so inspired because

I was like, who else? You're in the right place. This place embraced you from the minute you walked in it because of those qualities that you had. I want to have an impact and I want to be able to touch people because yes there's the deal and we think about, okay, you know this is a building, this is someone trying to buy a building, but who are the people behind that deal? What do they need? You know, people don't realize, and maybe I saw this at an early age, and that's people's

livelihoods whether it's a private equity firm and there's families or if it's an owner who bought something back in the 70s who's, you know, now in his 80s and he wants to sell. You know, like those are things that really have such an impact on me so yes it's a business savvy it's the adrenaline of creating something and showing someone how they can make money from what one person sees as four walls or if you can convert that vision into a valuable asset and showcase what you can do in space get creative like that is what my serotonin, my dopamine is just like throws it off.

That's why I don't sleep. By the same time. We're gonna work on that. I know we are. But like there is a beautiful emotional aspect to it where like I'm able to help people and you know. So you're a humanist. I love that.

See that's how I look at it. Right, you're talking about the deal and the deal has a lot of all this chatter around it, but at the end of the day it's two people talking about something. And then you get, the more you know about them, you sort of start to describe in the beginning of this interview about how you don't know where people are coming from and what this deal means to them. But the way to close the deal is about getting into where they're at on this deal and making

connection to them. It's about trust, it's about confidence, and it's about them understanding that you have a vested interest in this being a good deal for everybody, right? You're able to walk away from the deal and everybody's satisfied. Yeah, exactly.

And sometimes I feel like that, and you probably know this more than anyone, sometimes you just have to get creative. You got to get creative, 100%. Like not every deal is cookie cutter and like it's not just sometimes the things that you see but the things you don't see and listening and understanding people and being mindful of, okay, what are the other factors in this?

And I feel like that's been something that I'm really cognizant of and always trying to make measurable actions towards. And you've done that. So tell me, so the way you're approaching commercial real estate has obviously gotten the attention of Ryan and obviously gotten the attention of the industry. And so you have this show, right? It's called? It's called Odie Manhattan on Netflix.

Okay, so talk to me about that. Season one was wild and you know, I was going through like a massive personal shift. I think it was really cool because, yes, people see the selling sunsets, they see the million dollar listings, but like at the same time. They're seeing your life too. Yeah, they're seeing, and you know, all of our lives,

it's commission, it's deals, it's no sleep, but there's personal aspects to it too. Like what are people going through in life behind the deal? Look, you have a social media platform and you have a work platform, as do I. And it's not an easy thing to really open up about people's lives and people's struggles, right? That makes you vulnerable.

But at the end of the day, being vulnerable in front of lots of people, it gets across a different message, right? And people are able to identify. They're not comparing, oh my God, she's beautiful, she's got this, maybe she was given all this, silver spoon, all that, to identify. They're not comparing, oh my God, she's beautiful. She's got this, maybe she was given all these silver spoon, all that. No, you're showing your vulnerability. You're showing that you're a

human being going through having an experience. And that makes you so much more attractive in that way. People will identify with your story. People who have gone through what you're going through. Maybe you're going to inspire, I pretty much guarantee that on this show, you're going to inspire other people who have gone through things to know that they can get through that, that they can go on to find their dream job and find their dream career and find something that moves them and motivates them to be able to be vulnerable, keep going, break barriers and do all that

stuff, irrespective of what's going on. Yeah, thank you so much. And it's not every day that I get to meet people like you. That truly, really, I mean, going upstairs and seeing just your involvement and the history of what you've been through, like, that really touched. I think I almost went in tears, like, seeing that room of just how many things have happened here and what you've been involved in and what you do.

Because I think you're taking a different approach to what has been, you know, a traditional industry and you're making it interesting and making it fun and showcasing life. And making it human, you know, it's a different, that's how we get our message. It's a matter of telling your story, right? That's what I love to do. People will look at you and judge you and, you know, make comments or whatever it may be, but you don't get a point across and you don't really make impact that people will look at you and judge you and make comments or whatever it may be. But you don't get a point across and you don't really make impact

unless you tell your story and let people know who you are. That's the point. We're here for not a long time, right? But we're here for a good time. You wanna get your message across. You wanna move people and impact people. It's not a matter of how many who dies with the most toys. It's a matter of how many lives you can impact

while you're here, right? It sounds to me that was probably your father's message, even your grandfather, right? Immigrants coming to America, went out and found stuff. They went up against it, you know, buying houses on the Lower East Side in the 70s. Everyone told them they were out of their mind and think of it now.

I mean, that visionary part of this is what's exciting. And you seem like you're a visionary in that way I love it. I mean that that's why I'm here. You know, it's I there's an Australian saying I didn't come here to fuck spiders It means it means that I didn't know what does that mean? It means that I didn't come here just to be here I didn't come here to just be another you know stick figure in the whole scheme of things. No, I came here to do something. I came here to inspire or to touch someone.

Motivate, create, moderate, and inspire. Create, motivate, and inspire. CMI. CMI. OK, so what's the future look like for you, for Jade? You're 28 years old. You've done a lot for 28 years old. Thank you.

You're obviously in the commercial real estate business. You're working with the best people in the industry, right, in a big way. You have this wonderful show. Yeah. You've been married, you've been divorced. You have wonderful things to look forward to in the future. What's next? I hope to be able to focus on more trophy assets.

You know, I love what I do now, but if I'm able to do that for a property that's, you know, in the 100 millions and the 200 millions, but if I'm able to do that for a property that's in the 100 millions and the 200 millions, that is so cool to me. And to be able to just focus. It's not the money though, part is, it's more than that. Legacy. Yeah, it's legacy.

I think that's so important to me. At the end of the day, my dad's in his early 80s or mid-80s now. He had me when he was a little bit older. And he has dementia now. And I just, to go back home and see him and see the smile on his face whenever he sees all of that stuff and he knows that I'm living his legacy.

So he was aware enough to be super proud of you of all the things you've done in his industry? Yes. Has he? Oh my god, yeah, the smile on his face every time I tell him, like, Dad, I sold a building. Must be amazing. And he saw me on Netflix for the first time. It must be incredible. He just started tearing.

He actually teared. There's one scene where a girl, I go to an event, and this girl goes, she's like, you just came here to show off your stupid outfit. And he chuckled, because he's like, he knows me. He's like, yeah, she did. Exactly. There you go.

Check it out. You too. You too. This is it. This is my costume. You know, my Check it out. You too. This is it. This is my costume. You know, my family name and making him proud and also a different type of asset. I would love the opportunity to focus on those assets and try to strategize around that. I just think it's so fun and I have so much energy and that would be the next step for me.

Awesome. Well, you know what? Look, for me I I come here and I bring people up to this balcony for them to tell their story and the most important for me Is for them to motivate and inspire other people to be their best self to find something they love to do To go out there and get other people to look we are living in this really kind of wild crazy world, right? Obviously you've had you know, you've had some obstacles along the way. Think about this, you know, like COVID, post COVID, right? I mean, that really through everybody, you were, you were what? You were 23 years old, right? So many people have, there's so many people who have gone through so much spiritually with mental illness, with a lot of, a lot of obstacles in their lives over the last five years and to be able to have the excitement that you have for what you do to have broken so many barriers in an industry that is right. That's great. Thank you. You're disrupting the heck out of whatever you're doing and you're coming out of it with a smile. So I'm really happy you're here with me and thank you so much telling your story. I appreciate it so much really

And you're here on Wall Street and really Wall Street is embracing you in a big way think about it So this is so surreal we started the conversation is no I'm a firm believer and I always tell young people ask me about you know, how do you get to there? There's no door that you can't knock on the worst that you're gonna get is somebody saying no, right? We learn so much more from our failures than we do from our successes. It's not a matter of how many times you get knocked down, it's not a matter of how many times you get back up and keep moving, right?

And I'm sure you've had that happen to you along the way. And I love being told there's no way you're gonna succeed at that. You can't do that, and I love proving them wrong, and you've clearly proved everybody wrong. Jade Schenker, kicking ass, taking names, I love you. And that's all I got to say about that. Money Rehab is a production of Money News Network.

I'm your host, Nicole Lapin. Money Rehab's executive producer is Morgan LeVoy. Our researcher is Emily Holmes. Do you need some Money Rehab? And let's be honest, we all do. So email us your money questions, moneyrehabatmoneynewsnetwork.com to potentially have your questions answered on the show

or even have a one-on-one intervention with me and follow us on Instagram at MoneyNews and TikTok at MoneyNewsNetwork for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.

I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if, say, you want to put your summer home in Maine on Airbnb but you live full-time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high-quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for,

like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time

to make my house look guest-friendly, I guess that's the best way to put it. But I'm matching with a co-host so I can still make that extra cash while also making it easy on myself. Find a co-host at airbnb.com slash host.