The Iced Coffee Hour - Confronting Jason Oppenheim On The 2022 Real Estate Bubble | Selling Sunset

Episode Date: January 6, 2022

🎥 Get unlimited stock video, photos, music, & more at https://storyblocks.com/ich Start your fine wine investing portfolio with Vinovest ⇢ https://join.vinovest.co/ich/  Today we're speaking with Jason Oppenheim from The Oppenheim Group - Selling Sunset on Netflix - Enjoy!  Add us on Instagram:  https://www.instagram.com/jasonoppenh... https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan https://www.instagram.com/alex_nava_p... Official Clips Channel: https://www.youtube.com/channel/UCeBQ... DOWNLOAD MY NEW FINANCIAL APP: https://hungrybull.page.link/graham GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & SEE MY STOCK TRADES - USE CODE GRAHAM: http://www.public.com/graham  MY NEW COFFEE IS NOW FOR SALE: http://www.bankrollcoffee.com/ Join the 2x weekly mentorship group: https://tinyurl.com/yaexko4o The Equipment used: https://tinyurl.com/y78py5g2 Audio Equipment Used In Podcast: Rode NT1, Rodecaster Pro The YouTube Creator Academy:   Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF  For Podcast Inquiries, please contact [e-mail] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome to the Ice Coffee Hour. I'm Jason Oppenheim. And so far, this podcast has made $1.8 million. Oh, wow. Is that too much? Way off. Jeez, I wish. All right, fine.

Gosh. I can maybe get in some revenue cut with that. You're the highest guest so far. People have ranged anywhere from like, you know, $20,000. Well, I know what you do on your other shit. Oh, my gosh. So I'll tell you the total of it. $180,000.

Okay. That's more realistic. All right. So the lifetime revenue of this, $146,000. Pretty close. Is it worth your time, Graham? Yes. Because we have sponsors.

So this is just the ad revenue. You do this for free ice coffee? Well, I have my own ice coffee now, bankroll coffee. Oh, that's right. Yeah, yeah, I got to give you some coffee. All right. You could actually put it in the office. I shouldn't be drinking this Earth Cafe then.

Oh, that dirt. That nasty stuff. You have oat milk, then I'll do it. We do, actually. Well, thank you. Thank you so much for coming on today. I really appreciate this. My pleasure, man.

I think it's come full circle because I've been with the Oppenheim Group since 2015 when you first opened up the office in West Hollywood. Had no idea that anything would happen with a show that was never the intention. It was just pure real estate. What show? Selling Sunset. Oh, that's right. We got to introduce that. So, yeah, I think a few years ago, we would have introed this entirely differently.

But now you get this hit show on Netflix. Five seasons, right? Yeah, season five comes out in a couple months. Wow. I got to say, so admittedly, I do know what show, just doing it for the audience. My girlfriend is a fan of the show. So definitely familiar with it. But I heard that it was such a hit show that now there's a spin-off.

Is that true? Yeah, selling the OC about my Newport Beach office. We just started filming a couple weeks ago. I know. And hopefully a Vegas show, because I think I'm going to open up a Vegas office soon. Yeah, if we could talk about it. I've been so excited about that. You don't know about this, actually.

No, I didn't know about this. I've been good. I haven't signed a lease yet, so I can't say where. But should we wait to talk about these on the lease? No, I don't care. Okay. I'll probably send it in the next week or so. I've been really looking forward to it.

I have not told a single person this entire time, which is hard for me to keep a secret like this, but I've been so excited to be able to go back into the office and get my real estate license. So I'm going to do that this year. What? Yeah. Yeah. We're going to get Graham out of YouTube back to real estate. So when I buy a house, you're going to,

I could represent. You're going to rep me and you're going to give me the whole commission, right? Don't get carried away. Sorry. I'm going to get my commission. But, yeah, the show is such a success. But tell us from the very beginning how you got involved in real estate because you were a lawyer before got into real estate. You were working as an assistant, right, for the first two years.

No, I worked as a real estate agent for Joyce Ray's office. Yeah. And, yeah, I was a lawyer for many years. I enjoyed it-ish, you know, I'm as much. as I think you can at a major law firm. But I'd always love real estate. So after traveling for a while, after I left law, I came back to real estate.

Yeah, a tough couple first years, you know, like making 50 grand a year, you know, not much for Los Angeles. And then, you know, things, and I worked with Stacey and Joyce, who you know, and then I worked across the hall from you. Yeah. Yeah.

And, you know, we were both, Graham was hustling leases and I was hustling everything I could, too. So, you know, it was a fun, but, you know, not exactly glamorous first couple years. You were telling me, too, that you left law. And I think you had seen a survey or something that said it was the most unhappy career or something like that, right? Yeah. A real estate agent was ranked as the happiest career.

Yeah, so I went from the least happy to the most happy. Which is, I mean, I wouldn't say that I was miserable as a lawyer. I think most lawyers are. I think I was okay. I was on a great case. I had great colleagues. But, I mean, I'm so much happier now. So just to get the timeline right, you were working, so after you stopped being lower,

you went in real estate, you're working across the hall from Graham. And then after that, is that when you decided to start the Oppenheim group? Yeah, it took, I think I was there maybe like three and a half years at Coldwell Banker. And then I decided to start the Oppenham group. And what did you, because I'm assuming you brought Graham along with you at some point. Yeah, I think you were my first hire, right? And so what did you see in Grame? Graham at that time working with him in Coldwell Banker that gave you the idea, you know,

this kid working leases, why should I bring him on with me? Like, what did you see in there? Well, first of all, Graham and I were friends just from working so close together. And two, he was just like a hustler for sure. I mean, he really, really put in the hours. And, you know, you can just tell when someone's got that energy and that ambition and motivation. And Graham had that. And it was just, you know, we just got along. So it was like, it was an obvious first hire for me. Yeah, I remember you in the office. Jason, so Jason got this little, it was basically a closet. It was actually, well, before that, I was in Stacy's office.

Yeah. And with like a little desk in the corner. Right. Then I ended up getting my own little closet right next to you. Right. And that's where we started interacting. It was a closet. Like, I guarantee your closet is bigger than Jason's office was at the time.

Yeah, it was smaller than this. Oh, yeah, way small. Yeah, it was like half the size of right there. I also started in the closet. Actually, the laundry room. The laundry room. Yeah. Oh, okay.

Yeah. needed a space for Alex to edit videos and were like, what's the one room we don't use at all? And the laundry room. So, and it was big. Laundrum was actually probably the size of your office. So you and I have always started in the same spot. Because Jack was in here. And but now that he has his own place, you know, I can work right there.

You know, so it works out. But yeah, definitely. But you decked out that office. I mean, relatively, I put like hardwood flooring on the ceiling and the floor. Yeah. It ended up backfiring because it was like, it was so noisy in there because it was like this little box. And when I would talk, it would ricochet. So, and it wasn't such a great idea.

No, it was a terrible idea because everyone could hear you on the phone, usually yelling. And you would be on hold with customer service. And he would have these outbursts. He wouldn't hear him at all. And he would leave his door open. And he would say, you will not put me on hold. Do not put me on hold. And he gets put on hold.

Oh, I would have an attitude back then. For you on the phone with back then. I don't even know. I mean, I didn't have an assistant back then. So I was in all the little stuff and I get annoyed easily. Yeah. So, but I remember because I was working with this other agent. Those were clients, probably.

Yeah. Do not put me on all. But this other agent, his name was Vigeli, would have to go over and shut the door. Because he was on the phone. He'd just walk over and close it because it was so loud with the hardwood ceilings. And literally our office was like three feet from each other. Yeah. So you did the two years there.

And how much did you make this two years? Total? Over the two years, like 100 grand. Yeah. Like 50 grand a year. I mean, that was a rough couple years because I was used to making, you know, six figures as a lawyer. So you took a pay cut as a...

Oh, huge, yeah. Wow. Because, I mean, I was, I think the law was paying, you know, two to three hundred when I left, probably 300 by the time I left. And then when I started back, I was, you know, living in a, I mean, I was living in a one-bedroom apartment with my buddy Alex,

swapping back between the couch and the bed, because, you know, like one month on the couch, one month in the bed. So it was not, by any means, glamorous, driving my grandfather's, like, $700. I think I paid $700 for it. I think I sold it for 600s and I didn't depreciate. Okay, that's good.

But yeah, I mean, it wasn't, you know, I wasn't on the high life like I was as a lawyer. But I was happy because, you know, I had no expectations. I didn't have any real responsibilities. So, you know, it was fun. And I was playing the long game, which anyone should get into real estate. You shouldn't focus on your first few years. What were you savings like when you left? Did you have like?

I had about $110,000 saved up when I left. And then I traveled the world for three years, spent all of it plus another $40,000 on credit cards. No. So I was, yeah, I was hurting financially when I came back.

No job. Yeah. And, and I don't even, we, I think my dad had to wire money into my bank account

so I could get a, an apartment at $1,400 a month with my friend. And I'd give it back to him after, after we got the apartment, because I had no job and no money.

So I couldn't even get an apartment. Would your parents think of you leaving? Oh, they were supportive. Really? Yeah, they've, they've always been supportive of, I mean, my friends thought I was,

stupid mostly, but my parents were super supportive. Okay. And then after your two years in real estate, what made you want to open up the opportunity? Well, I think I had my third year, I was, I was getting more successful. Okay. Well, you know, at Joyce's office. And then, no, and actually, I think I spent four years with Joyce. My third year was a little more successful. My fourth year was pretty damn successful. And that's when I thought, you know, I've always just wanted to work for myself, always wanted to be an entrepreneur. I was super nervous about going on my own. I thought, I was going to lose at least 50% of my business. You know, the big brokerages always tell you it's all about the brokerage

and you've got to, like, you know, stay with them and they're going to get your ass handed to you if you go on your own. Yeah. And but back then there weren't that many boutique brokerages. You know, I think the agency had come out, but it wasn't like this free-for-all like it is now with all these different brokerages. And I just worked out of my house. You know, I had this small house. I had a second bedroom.

I just worked out of the second bedroom. Hired an assistant. I mean, things were pretty slow. the first year, decided to get an office, you know, which is the current office. And then you started working. But you were doing well up until the point where you got an office. Yeah, yeah. I think I had done like 300 my third year and 700 my fourth year.

That's a lot of money to make four years in real estate. Yeah, I was doing pretty well the third and fourth year. And that's when I decided to go on my own. How'd you do that well? Most people are in real estate for 20 years and they're never making $700. Yeah, I was, I mean, you remember. I mean, I was just working. I was grinding.

back then. I was working 10, 15 hour days. I loved it. I was super ambitious. I was scared. You know what I mean? Like I had left a successful career and I wanted to be successful again. So I just had every motivation. I was just hustling. Oh my God. I was hustling. I wish I still had all that hustle. But before we go to that, I want to thank our sponsor's Storyblocks. Graham, I don't have time to record this right now. I have so much editing to do. Are you using story blocks? No, why? Trust me. Once you use story blocks, you're going to have all the time in the world, to get back to work.

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That's Jack's thing. All right. Back to the podcast. Do you find that that goes away after a certain age? Or is it a dollar amount or is it an age where you start to want to like not work so hard? You know, I think I work much smarter now. you know, I delegate a lot more. Back then, I wasn't comfortable spending any money on an assistant.

Now I delegate a lot. So I'm a much smarter worker. You know, I focus on the more high-level things. But back then, and I think that's where you learn, I was just doing every little thing myself. And I was, I still am, but just overly meticulous and OCD about everything. Everything had to be perfect.

I would reread. I didn't probably have a single spelling mistake in a single email. for like the first four years of my career, maybe five. Now, I mean, you'll be lucky if I capitalize anything. Wow. I kind of see a little bit of parallels between the work ethic between you two. And I could see why you guys got along and why you hired Graham.

Yeah, we were super similar. You know, I mean, you are still grinding your stuff too. But we were probably the two hardest workers in the office, I would say. Yeah, I would always stay in the latest. I would, and usually for those first few years, I wouldn't leave. leave until usually like 1 a.m. I loved. I loved working late. That was my thing. Yeah. It was just, it was so peaceful. Oftentimes it would just be the two of us in the office. Yeah. But like after 9 p.m. is just something about it where there's no one else there.

There's no traffic in front of the, in front of the office, and it's just peaceful. And like you could get anything done and there's not a rush. I really like that. And I also like in real estate that you can work 15 hours a day. I mean, there's always, I mean, the first couple of years I don't have much going. I don't think I did a deal for almost the first year. I think my, I started in January of 2010. I think my first deal was October of 2010. So, I mean, you know, 10 months of studying street maps. And I remember I would print out every single contract there was and just read it and highlight it and memorize every single contract.

So if a client ever asked me a question, I had the answer. It was very tedious, menial. And then it'd go into every open house and broker open, trying to, time to learn about, you know, what a house is worth and, you know, finishes, fixtures. I mean, the whole thing. There's so much to learn. That's why I love real estate. What was the most challenging part of that? Is it the contracts or was it the negotiations?

No, that stuff was always, I was getting clients. I mean, for me, I as an attorney and just someone who's mind enjoys contracts and negotiations, I love all the detail. So for me, it was the clients that was probably the hardest thing. Did you ever set any goals when you first started your own business? Like, oh, I know I'm successful when I hit X dollar. Oh, I remember. It's funny because I was in Vegas with the guy who I set my goal with,

and we wanted to make $10,000 a month. That was our ultimate goal. We figured if we could be making $10,000 a month and we're living in the high life. And we could do whatever we want, which is amusing because, I mean, the more you make, the more you need and the more you get tied down. And my costs right now are insane. But that was the goal. The goal was $10,000 a month.

So when you made that $700,000 a year, four years in, Did you save that? Were you investing it? Or what were you doing with that money? Well, I was saving to buy my first house. So I think, yeah, in 2013, I bought my first house for like $1.3 million in London Day. Still have it. That was an incredible buy, by the way.

Yeah. Incredible. It was essentially it's a triplex, basically. Well, then I spent like $1.2 million remodeling it. So I'm really into it like $2.5. But yeah, that thing was awesome. And what's it worth now? Probably four, I'd say.

And so I'm into it like, I would expect more than that. No, I think. Just four. Yeah, because it's like 3,000 square feet total. Maybe it's worth like four, too. Who cares? I'm never selling it. Yeah.

I have a 30-year loan on that thing. I'm just never selling it. Yeah. It's like my little baby. Do you currently live there or no? No, I rented out. Oh, okay. So, yeah, so you're saving up to buy that property.

And then when did you decide to open up the office that was like almost right across the street from that? Yeah. So the office was about 100 feet, 200 feet from my house. Early, I think I, late 2014. I signed the lease and I think I opened January 2015.

Yeah. How'd you do the math on that to make sure you weren't going to lose money? I didn't. I didn't. I don't do the math on business decisions which is served me well but I wouldn't recommend it to anyone.

But I always just do what I think is going to be fun and exciting and I always just like have this belief it's going to work out. Same with Vegas. This Vegas office I'm planning on spending like 1.5 million to build it out and you know hundreds of thousands of dollars a month in rent and it it makes

zero business sense what I'm doing zero um but you know every other business decision has worked out I've just done it the way I want to do it and just believe that that it'll work out yeah so when doing the op-and-on-hgroup how did you pick the first few agents who are in the office friends yeah just chose my friends yeah I mean for me what's important is and I've always gone about it this way which is why we still have, you know, the same 15 people at the Oppenheim group. I've just always wanted to enjoy what I'm doing and be happy, you know, and I don't want, I'm very particular about people. So I just want people that I enjoy working with, you know, enjoy going to lunch with, whatever.

I like that environment. So it's not worth it for me to be hiring people that I don't, I don't see myself, like, becoming a good friend with. Have you had any experiences where you've hired someone, though, and it turned out to be different than what you expected. It didn't work out. A couple times. I've let a couple people go, just because I just because I just. I didn't get the feeling that I wanted.

Okay. Yeah. And how are you finding people now? People reach out every day. I mean, we're not really expanding. I mean, in Vegas, I'll have to hire a bunch of people. Orange County, you know, I didn't really reach out to people. People reached out to me, and I just selected those people I thought I would like.

So why Vegas? I know you say because you have a feeling, but there's got to be a more strategic reason of, like, there's a few reasons. Yeah. first hire for a second time. That would be great. I can get back my little boss. Oh, yeah.

So I took, yeah, so that was from the Oppenheim group. I forget what it was you? The LA office. Yeah, you were moving this or what was it? Yeah.

In the window with our listing, with our little, you know, photos of our listings. Why'd you move them out? I forget, I forget the, but the reason.

No, you took them. Was that? You just took them. No, it's one morning. No, you know, we moved them out to put a TV

in the window. Oh, that was it. Yeah. And you say, then you took them. Yeah. Cool. I'll get them back for the office.

Those are yours. Those are yours. So why Vegas, though? So, okay, one, it's close. So I can be here, I can be here door to door two hours. Two, the real estate market in Vegas, the luxury market is going very well. I mean, you're seeing exponential growth. Three, there's a tremendous confluence from Los Angeles to Las Vegas because a ton of people from California are moving to Las Vegas.

So it's kind of a natural progression for me. It's West Coast, you know, so kind of building the brand slowly on the side of the country. And also, I like Vegas. You know, I like coming out here. There's great restaurants. I can stay at the Yonkore and stuff. So it's nice. And there's a lot of reasons.

And then my friends are out here. And then Alex and Alice and Matt will help me build out the office. It's so close. I found an insane spot. So I'm really happy with that. That's cool. Are you worried about the real estate market going down? I think a lot of people are concerned about housing values.

Yeah, it might. But the real estate brokerage, model doesn't really care so much about prices as much as it does about volume. So I think we're going to still see a lot of volume. I still think we'll see a lot of purchases and sales. I think there's a lot of luxury land coming on the market and a lot of luxury building. Now, unfortunately, a lot of it's like Toll Brothers and things like that. They don't have agents.

But I think the market in Vegas is poised for, you know, some very good years ahead of it. But first, I'd like to thank our sponsor, Vinovests. Wait a second. I don't know how to invest. Graham, quit whining. Wine. That's it. What's it?

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allow for like an individual to go and be like, I'm going to build this house and sell it here? No. I don't think there's a great model for individual building here. Unless Unless that person has economies of scale. So I think by definition, if you're just building one house, you don't. Or maybe if you're building like a $20 million house, you know, so you could do everything very custom. But someone coming in and just, you know, remodeling a house and flipping it doesn't make sense here. Yeah.

Yeah, because, or somebody coming in and just building a $5 million house and selling it, it doesn't make sense. You can't compete with the economies of scale of the big builders. So where is your expectation for the real estate market over 2020? tell? Probably I'm up a little bit, but relatively flat. I think interest rate increases will probably put a damper on this kind of extreme growth that we're seeing. And I don't think we're going to see a ton of sales, honestly. I think that there's a supply problem right now. And I think that as interest rates go up, there's not going to be a lot of people wanting to sell. I mean,

if you have a 2.8% rate, and interest rates are now at 4.5%. Why would you sell, get rid of it, and lose your grade? And lose your grade. loan to go get a four and a half percent loan. So I think you're going to see that also keep prices up too because there just won't be a lot of supply. But, you know, for me, unfortunately, I don't see a ton of volume moving forward in the next couple years. Are you ever worried it's going to get to a point where prices are just so high that buyers are thinking, you know what? I'm just going to wait it out, wait it out see what happens. It depends on what market you're talking about. You know, maybe in the one and two million dollar price point, you'll see some of that. But I think the wealthy

are not concerned about waiting. I think if they want a house, whether it's $5 million or $6.5 million, they're going to buy. I think that if you're on a fixed income and you're trying to buy your first house and things have gone up like they have, like 30%, you're going to see some people waiting on the sideline.

But I'll be honest, I've been hearing about people complaining about housing prices since I got into real estate 12 years ago. And I'd say it's been going up for 12 years since we... I wonder, what would have happened if COVID didn't happen? Because the market was, when did they raise rates? Was it 2018?

Yep. What? That's still did that. Oh, what happened to that? Probably just dropped. Okay. So you own a lot of real estate, too. Could you tell us about what you've bought?

Yeah, so I buy luxury residential real estate in Los Angeles, stuff that I love that I want to live in, but it ends up that I don't live in them that long and I rent them out. But I like luxury rentals because you can get, you know, There's a lot of wealthy people that want to rent nice properties in L.A. And I do my house as really nice. So I have kind of like a niche for people that really want, you know, something nice. Because a lot of rentals aren't, you know, exquisitely furnished and artwork and all that stuff.

And I just, yeah, so I rent out several homes. And maybe I'll live in one here and there. But it's kind of hard because they rent out for so much. And I don't want to leave that income. So I end up renting in like smaller places. Yeah. So when you say luxury homes here, what are we? Well, five to 10 million value and then rental, you know, 30 to 60,000 a month.

That's insane. Yeah. Who would pay for that? I just rented a house last week for $65,000 a month. And that's short-term rental. But there's a lot of people coming in. I mean, I've got several rentals all in that price point. There's just a lot of money and a lot of people don't want to buy yet.

They just want to rent or they don't know what they're doing for a year or two. so they're just coming in rent. And then if you have that product, if you have like a very nice, luxurious house with a view, you know, exquisitely furnished, then there's really not much competition. You know, you can charge what you want. Wow.

See, my thought is if they don't know what to do for a year or two, they would be, maybe we think a little different. My thought is they would live somewhere where they could use that money. But I guess if they already have money. You're spending 65K, you don't care. Yeah, you don't care.

They want to have fun. They want to enjoy. their year or two in Los Angeles. It's a different market. And the idea of trying to save 10 or 20 grand a month for them that doesn't really matter. I'd say above 20 grand a month, people don't care about budgeting. Not to that extent of like, well, we could be better putting this towards their down payment in the future. To them, it's like it's a drop in the bucket. It really is. Yeah. And oftentimes it's like two guys that will rent a house. And so they're each paying, you know, 20 grand a month, which is far more reasonable. And then they get, you know, a $40,000

a month house. And it's big enough for two people. Yeah. So that's what happens. lot. But who are these, these clients that you're working with? And have you noticed a trend with your clients? Because Ryan Surhant was mentioning that his wealthier clients have been getting younger and younger. So they're no longer these like 60 year old people. They're all in like their 30s now. They're 40s. Well, in the Hollywood Hills, it's never been a 60 year old demographic. It's always been 25 to 40. And it still is. It still is. So I wouldn't say there's been much change. I mean, you do notice money coming from different areas. You know, you see a lot of crypto money. now. YouTube money. See as well. So, you know, you'll see it coming from different areas,

like, but you don't, Hollywood Hills was never about like some 70-year-old guy that made his money in oil and gas. You know, it was always the young kind of tube star or whatever. Yeah. Maybe actor, but they don't usually spend that much. How many crypto people have you worked with? How does that come out? Do they just tell you like, hey, just made a whole bunch of money in Bitcoin? Yeah, I mean, because I, I'll need to qualify. Yeah, yeah, yeah. Hey, do you take crypto for this house? No, I've never sold in crypto.

But definitely, actually, I would say, I'm certain that one of my tenants has made money in crypto. I think another one of my tenants has. So, I mean, it's certainly out there. I just, I've got a client looking to buy up to $10 million in Las Vegas, crypto money. So, I mean, it's definitely, you know, pervasive. Do you know what crypto? He's Bitcoin. In fact, I think most of them that I'm talking, that I'm working with are Bitcoin.

So you've yet to represent someone like Dogecoin or Doge Longhars. I have a friend. I'm leasing her house and she has a lot of money in Dogecoin. Although I don't think she's done exceptionally well. I'll see. I told her to get out. She bought in right when S&L was. Graham, tell him your return on your current return on Doge.

Oh. Well, okay. So, well, the first story is that when we first started this podcast, Jack, told me to invest $1,000 in Dogecoin. And it was a fraction of a penny. And he says, just buy it. It's just going to, it's going to be good content. So I bought it on Robin Hood.

And I thought it was stupid and I sold it. At the peak, it would have been worth about $160 grant from a $1,000 investment. So it would have made more money. But to be fair, everyone has a story about like my brother bought Bitcoin when it was like, you know, $12 a coin. But nobody, I mean, he says, oh, if I just held on to it. But, bro, you would have sold it 50 times before it ever got to, you know, $50,000. That's true. Graham would have sold it if he made $50.

Yeah, Graham would have sold it a hundred times before I got to that one. I probably would have sold it when it hit 5K because I'd be like that's, that's a 500% return. Exactly. So, you know, all those people that talk about that, I mean, they never would have held it until it got that high. What are your thoughts on crypto? Oh, I have a lot of thoughts. No, I don't own any. Eric's been telling you to buy by the way for a very long time.

I think crypto is probably the future. I mean, I do think that over the long term, it's probably an excellent investment, although I think that it might be inflated now. So I'm just too concerned to get in now. I think, and I'm not really good at owning anything that I can track on a day-to-day basis. Like, jives me crazy. I'm always, I will be looking it up like every two hours. So I wouldn't, I don't think I'd enjoy having a substantial stake in it at crypto.

That said, I do believe that, you know, in 10 years, I will have wish I bought crypto. but I don't know if I would be happy in a year from now or six months from now. I think you should take a million, just a million bucks, buy Bitcoin. Or just 50-50 Bitcoin Ethereum. If there's a big crash, I might jump in. But there might not be a crash. Just like you said, it's kind of inflated. People are saying the same about the housing market.

And here you are. I'm like, you know, a house. There's a couple of reasons why I, first of all, you can't really leverage crypto the way you can leverage a house. I mean, if I could borrow, you know, $5 million at 2.7% in buy crypto with it and hold crypto for 30 years on that 30 year loan, I would do it. But that doesn't exist. Yeah, but the leverage, if you think of the leverage and you think, you know, the housing market went up, let's just say on an average year, let's say even 5%. So you're making it like a 20%

return on your money. But when you look at Bitcoin, you could be doing 50% annually 40%. Not to say that that'll happen. Well, in real estate, I think you're making 20% on your cash just from your average increase. Plus you're making rent. So I think, you know, I could probably make 10% on day one on my cash on rent. So it's really 30%. I don't think you're going to, you know what, you know what Bitcoin would have to be for me to, if I put a million dollars in Bitcoin and I made 30% for the next 10 years, Bitcoin would have to be at like a million or something like, or over a million. I mean, I don't know. My math isn't that good. So no, I don't, I think I could make more money in real estate. We could use this clip when it hits a million.

I mean, who knows? I've spoken with some people. who are really into Bitcoin, like, you know, like, I'm losing track of my figures. Nine figures, yeah, like nine figures in Bitcoin who are convinced it'll hit a million dollars. Like, convinced beyond belief. I know. Yeah. Because there are people that are convinced it'll go down, you know, to whatever.

I don't think anyone knows anything about the crypto market. You know, I think there's just way too much speculation right now. A ton of people leveraging. And I think that's really dangerous. So I think there's going to be a lot of regulatory things going on in the next couple years that will probably have an effect on the market. But, I mean, to pretend that you know what's going to happen to cryptocurrency is laughable. I mean, I can't even understand what's going to happen in the real estate market.

And I think there's way more fluctuation in crypto. Got it. So you're in the luxury real estate market. Ask me a question about vintage football cards. What about the luxury metaverse real estate market? Oh yeah, what do you thought in the metaverse?

Interesting question too. I think that that's also I think maybe partially inflated right now but I think over the long run I think that Metaverse land is probably an unbelievably awesome investment. I mean in the future I don't think there's any question that in 20 years

we're all going to be in the Metaverse. I mean no one's going to be working because there's probably not any jobs because we're all going to be automated, except luxury real estate. But honestly, though, I mean, 80% of our workforce in 20 years will be sitting at home in the Metaverse. Plus, when you introduce, like, porn into the Metaverse, I mean, just being honest, then everyone's going to be staying at home. So I think the future is probably a lot of people staying at home, you know, on the Metaverse.

It's too bad. Not watching it, probably doing it in the Metaverse. You know, you have to think, too, I got this idea, like, because we were talking about the, they sold a virtual yacht for like $900,000. Right. And I'm thinking, imagine that person who bought that yacht could rent it out. You can, right? A lot of people are renting out from a metaverse land. But only people who could afford to pay the $50,000 can network with other people who are willing to pay the $50 grand.

Imagine the networking that you could do on a yacht. It's like owning a board ape. Right. They have that networking. But you know what I'm mad about? Did you see the quality, like the resolution? That's terrible. Okay.

But it's all about 10 years from now. But I could pay a developer 900 grand and be like, hey, develop me a better yacht, I could chill out. They spent, I think, about 150 or 250,000 or 250,000 building that yacht out. That's crazy. Yeah, so it's a lot of work. But then, you know, they sold it for way more. Listen, I think that it's unquestionable that land in the metaverse is going to be a

tremendously valuable investment. The problem is you don't know what Metaverse. Yeah. Facebook's coming out with one. Others will. So if you knew like DeCentraland was the metaverse, it was going to be huge. But it's not going to be huge until it's three-dimensional, until you're aware. And nobody wants to put on a 10-pound Oculus.

So in 10 years from now, you'll probably have a contact lens. You'll put that in and you'll be seeing a three-dimensional metaverse. And then like I said, I hate to be like, you know, overly honest about this. But I do believe that once porn gets introduced to the meta-vice, it's going to, you're going to see a lot of guys staying at home. you know, because it's going to be the most vivid, like, sexual experience for people. And I'm, I'm actually concerned. Because I think, yeah, because you're not going to need. The other thing, too, is it's going to affect real estate, these glasses for these contact lenses.

You're not going to need a $5 million house with a view because everyone's going to have that. You're going to wake up. In the Metaverse. Yeah, you're going to be in the Metaverse probably 10 hours a day. You're just going to probably, you know, use the restroom and eat and then sleep outside the metaverse. So I think you'll be, that's why I think land. the metaverse is so valuable.

You think it's worth it to go in that direction, though, like as a society, to be able to plug in and like... I think it's extremely concerning from a societal perspective, but that's it going to happen. No, we're going to be, I think there's going to be a tremendous loss of purpose in 10, 20 years. I think you're going to see kids. I mean, I think that our, the number of people having kids is going to reduce dramatic, to a very concerning level. I think relationships will suffer.

I mean, I think that when you can be it, you know, in the metaverse, having relationships that real relationships will probably suffer tremendously. I think a lot of things are going to suffer. I mean, you think Instagram is bad? I mean, it's nothing compared to where people are going to be in 20 years on the Metaverse. Well, you say Instagram, I think TikTok. Because if we're talking about like where you say, yeah. I'm just saying like people are concerned that people are spending too much time on TikTok and Instagram.

When there's three-dimensional, like, you know, universes out there and everything else I already discussed. Trust me. People, and there's no jobs because everything's automated. And you don't need much money to live. I bet the jobs would be in the Metaverse, though. Oh, did you see that they hired a casino hosts in the Metaverse? Yeah. Yeah.

So there's people in other countries that get paid more than their living wage to be a virtual casino house. I think another problem, though, is that the Metaverse is so egalitarian in terms of people that can work, because anyone around the world can work there. I think that the pay is going to be very low, and I don't think it's going to attract, you know, any, any skilled workers. Yeah, I think it was Ghana that people were making out like $4,500 a month. So it's four times the minimum wage on Axi Infinity. Which is great for a lot of developing countries, presumably, unless I'm missing some things.

But I don't think that's going to be, you're not going to be able to make $90,000 a year at these low-level jobs in the Metaverse. And maybe there are jobs in the Meta. I just don't know enough about it. But regardless, people are going to be waking up, putting in their contact lenses, and staying at home 15 hours a day. and it's going to have a lot of negative consequences for society. It's just wild to think about. Because if it's really that good, would you want the real world anyway? No, you won't.

I mean, it's literally like the matrix. Right. No, most people will choose the red, no, the blue pill. Most people will be choosing the blue pill in 20 years. I mean, we're not there yet. The metaverse is still like kind of a grainy, two-dimensional thing. But there's no question that we will have contact lenses and be living in a metaverse in 20 years.

I mean, there's just no question. I mean, imagine this, correct. You wanted to buy that car from Hoovey. Oh, yeah. Or just imagine you didn't have your GT yet, right? Why would you spend 200 and however much grand on a car in real life? When you can buy it on the Metaverse for 20 grand. And it's the same experience to drive the car, to display the car exactly the same.

I feel like it doesn't say. In 20 years, it might be a very similar experience. So why would anybody? Like Ready Player 1. Yeah, exactly. Yeah. So why would you choose the real-life car when you get the exact same performance? I don't know.

I don't know. I don't know. I think it's going to be used in the beginning for flexing of people to show how much. I mean, there's no universe. You put whatever name in front of it is why where people won't be flexing their money. Yeah. Yeah, there'll be halves and half-knots in the metaverse too. So why don't you buy land in the metaverse?

Why not just take a little slipper? Well, again, because I equate it to crypto. I think that. that the values have gone up so much that there could be a little bit of a reckoning. But again, and again, I don't know which metaverse. I think that's the most important. There's no question, yeah, there's no question that land in whatever metaverse ends up being one of the more dominant metavers is going to be an excellent investment.

I mean, there'll be millions and millions of dollars for good pieces of land and for houses, no question. It's interesting. One of my first clients, his name was John Jacobs. And he held the record. And I remember looking him up when I'm trying to like research who he was. He held the record for the most expensive virtual item ever sold in 2010. It was in this, they called it, it was a game.

What was it? It was like this entropia universe. Oh, he had the disco? Yeah. He had no, he had an asteroid. Yeah, it was a disco. Something like that. Yeah.

You visit his asteroids. Yes, yeah. So he sold this for $630,000 in 2010 back then. And it was a disco. He was making $200,000 a year from this. And people would pay to gain access to his disco in the game. And he owned the entire-ass story. Well, that's the same thing going on in, like, other metaverses right now.

You're going to be making a fortune if you own land and you build a casino or you build, like, you know, a destination and you rent it out. Yeah. Or people will be spending most of their money in 20 years, 10 to 20 years, people will be spending most of their money in the metaverse. Are you worried about the impact on real estate for, like, let's say for you 20 years from now, if you're thinking ahead, How does this impact you or the business? I think that the, listen, there's so many things that are hard to kind of figure out about this. But if I had to guess in 20 years, I'd say that a lot of people will not need as much from where they're living. I mean, I think, first of all, you're not going to probably see many shopping centers and a lot of,

and I don't really think you're going to be seeing, you know, commercial spaces. Like you've got these big towers, you know, with thousands of people coming into work. I mean, those will have to be converted to residential housing. at some point because I mean, who, we're not going to be having a bunch of people going to work in 20 years. And I think that you'll have a lot of people that could probably live in, you know, a 600 square foot, you know, condo without a view. And there'll be technology in 20 years where you can put a, you know, a little window on a wall, you know, like a Samsung frame TV, but imagine it, you know, 50,000 times better. And it'll look like a view and it'll move when you move and it'll be whatever

view you want. So I think you could. probably turn a really crappy dark apartment into a gorgeous little, you know, apartment just from these little fake windows. And you'll have natural light. I mean, you'll probably be able to have sunroofs, you know, for in 20 years, you'll be able to buy a sunroof, just put it onto a dark ceiling, and it'll look like the sun and the sun will move. And you won't be able to tell if that sunroof or whatever you want to call it sunlight is, is real or not. In 20 years, you'll have no way of knowing. And it will be at night and you can black it out when you don't want to wake up. I mean, it's, so I think that technology is going to have a huge impact on,

on real estate. That's crazy. But I will also say that people will be living at home more and staying at home more. So, you've got, I guess, different, you know, pulls and pushes. Yeah, I was going to say, I think we should talk about the Netflix show. I mean, there's a lot of, so boring. I always talk about the Netflix show. This stuff is more fun. I agree. Let's see if there's,

because since Jack's not able to make it, he has a few questions for you. I just want to see if there's anything in here that has to do with the show that we could get out of the way on this. Most thing I won't talk about it. I'm just saying it's boring. I'm just saying I think maybe people would like to hear a little bit.

Okay, fine. I like the metaphor. So Jack wants to know, why do you continue to sell real estate when at this point you could leverage the show and you could leverage your audience to make money, other ways that don't involve that.

Maybe you could make way more. I haven't leveraged the show, honestly, to make $1 anywhere else besides buying and selling property. I have not used my Instagram or anything else to make literally $1. That's what Jason told me that. I was like, I thought for sure Jason would be doing a sponsor. I'm like, Jason, why aren't you doing sponsors on Instagram? I'm not saying I wouldn't do like a quality, you know, sponsor.

I just, I don't know. It's not, I'm not trying to. like, you know, sell a, like, $20,000 on a post to, like, sell a razor and be like, oh, my favorite, you know, beard trimmer or something. I think you're under, I'm not saying you have to sell that. By the way, any beard trimmer companies, I've got to pay me. Who did we do for the, for the, we did, oh, manscaped. We did a sponsorship with manscape. Oh, I was, listen, you can talk to me in a year and I'll have done like 20 sponsors. I'm just saying, I have not yet. So, really my thing yet. You, you, you went through the same

progression that I did in the very beginning. Uh, the first, I think three months on YouTube, I didn't put any ads in my videos because I'm like, Oh, you know what? I don't need the money. I don't want to be that guy. Yeah, I don't want to be that guy. He's putting ads in this. This is silly.

And then I was just like, well, if it's going to help the algorithm, I'm going to put an ad in the video. And it helped the algorithm. And then I started making some money. I was like, well, if one ad helps the algorithm, what's two ads? It helped the algorithm even more. And then I was actually making a decent amount of money. But I said no to sponsors. For three years, I didn't do a single sponsor.

Because I was thinking, I'm making so much money from ad revenue. I don't need to take sponsors. You only need to take sponsors. I can't imagine you saying, I'm making so much money from ad revenue. I don't need sponsors. Yeah, that's how I felt. Because only the people who were doing sponsors, they made no money in ad revenue. So it was like, okay, they have to do sponsors, but I don't have to do that.

And then it started and started trickling in. I think it was simply safe was one of the first sponsors on the channel, the home security system. Oh, you know what? I remember seeing that. And it was such a natural integration because you set it up in your house, right? Yeah. So that to me makes sense. Like I would do like a collaboration with like, you know,

Sonos or something like that. Like some type of real estate. Listen, we're going down the rabbit all year. Just listen to this, okay? Yeah. Everyone is telling me you're going to make more money from sponsorships than you will from ad revenue. It's like, I didn't believe them.

Well, sure enough, a year later, more money from sponsor. I am not going to be making more money from. And guess what? We had a sponsor the other day. Actually, the post today, our company where technically we are both lords. So you have to refer to both of us as a lord. Because we bought land in, where is it, Scotland, Ireland. They sponsored a video.

So for like $50. So, Jason. Are you a Lord? Are you a Lord? But you don't own land. Yeah. Are you a Lord? I'm a Lord.

Seriously, they send you a certificate. Oh, well, if they send you a certificate, then it's legit. They sponsor the video. But my point is we've gone from, like, I'm not doing. his sponsors to now like, you can be a lord for like $30. Well, we'll do a podcast every year. I'll update you on that. But I'm telling you, I think for very minimal work, you'd be able to clear an extra

probably $3 million a year with very little work. Yeah, listen, I would do that. Yeah. I just have not gotten off my ass and thought about it yet. Maybe I need to hire someone that can do that. But I think there is a way to leverage this and make more money than you're expecting. And maybe that might shift your, I don't know. want to say it might because I'm always going to draw real estate.

I know, but I'm more than happy to do, you know, extracurricular things. I think it's worth it to pursue. Why didn't you go? He just called it extracurricular. Yeah, yeah, some extra extra. Why didn't you pursue the route that I saw Brett take, which is creating a program and I think just the time.

I mean, my brother spent like a year and a half on that. And I mean, I was, I could never have spent a tenth as much time as he spent creating that class. So I think for that reason I bet in a weekend though If you well I guess probably about a week I bet you could spend five days with somebody Planning it out and a weekend going over it

Just as though you're talking to you and I He literally spent like 18 months every day He didn't need to Well but that's our personality though It's just to be we just you know Our personality is not to bang something out So I'll tell you When I did the first real estate agent program

I spent a year working on that thing And it was horrible I scripted everything out Yeah I hated it Oh, you were there for that. Yeah. And it bombed. It's just like nobody was interested in it.

I just didn't, not that many people were interested in that. My YouTube program, on the other hand, I spent 30 days on that. Nothing was scripted, and I just had bullet points in front of a whiteboard. And I was just, you know, talking and making the points. I spent 30 days in the total.

I'm like someone who just wants to just, you know, go over, script everything out. I mean, plus the other thing, too, is my brother has the best one out there. Like, I would never want to have another one. Like, I will never do one as good as he did. no matter how much time I spend. I don't know.

I mean, but then you would have something that would compete with him maybe. First of all, I wouldn't want to compete with him. But regardless, I've watched it. I will never,

ever do something that good. We were talking a while ago doing a mentorship where you would basically have people pay you, you know, however much just for your thoughts on their real estate situations

or if something is goodbye or how to negotiate or something like that, I thought would do really well. I don't know. I just, that's not totally my personality. You know,

I'm just more like, Yeah, I don't know. I don't think I would be doing that. I just think my personality is more just like focus on buying and selling real estate. Got it. And just, you know, I'm not trying to add a ton more to my plate right now. I say that as I open up a Vegas office and maybe get a third show, but whatever. Do you think there's any point that you're just going to retire and take it easy or, you know, scale back a little bit from what you're doing?

You know, probably not because I think that. if I, every time I think about where I want to be before I retire, that once I get there and I've done that many times, I just want, you know, to be working harder and expand more and be more successful. And I also love what I'm doing. I think I'd be bored off my if I retired. So I don't, I think I could slow down and travel more. You know, I already am. But I just don't think I ever want to unplug what I'm doing.

What if you weren't? At some point, the shows will, you know, stop. Yeah. And I'll have more time. Have you been surprised at the success of the show? Yeah, obviously. What was your reaction when it first came out? Because I remember, I don't know if we could talk about this,

but in the very beginning, I think that when you saw the first episode or two, I think weren't you disappointed that it wasn't more real estate? I think in the beginning you had told them it's like, I wanted this to be like 80% real estate. Yeah, I think when I... And then they had their direction and wasn't there some clash in the beginning. Well, no, it wasn't a clash. I mean, at the end of the day, they were completely right.

We have a show that is 50 times more successful than any show that I would have ever, you know, wanted. But, yeah, I thought, you know, I was so concerned about my brand. And I'm just, you know, barely kind of controlling. And I like to manage, you know, everything. So for me to delegate anything was very difficult, like, in season one. But once I saw that it was good, you know, I chilled out. Yeah. And I stopped, you know, I just let production do their thing.

But yeah, I mean, at the beginning, I wanted this show to be real estate focused. But honestly, it would have probably been a show. Yeah. How do this show even come up to begin with? Did they approach you in the beginning? Yeah. So we'd been approached by, you know, different agents and producers. And Adam DeVillo, our current producer and Skyler, I think one of them reached out.

And, you know, even we were not interested when they reached out. But then they, like, pushed to get a meeting. And we hadn't taken a meeting in, like, six months or a year. And so we took a meeting And then we kind of warmed up to it I think the other agents were You know excited about it as well And one thing led to another

And we you know Before you know we were filming a pilot Yeah But yeah at first I wasn't I was I thought it was more risk than reward What was the why did you agree to it then If you felt like there's too I just turned

I just started getting more excited about it You know I just kind of rap We had a good producer I thought it was going to be fun You know I'm definitely one of those people That likes to take risks and, you know, you know, a Yolo type of thing. So that was probably it.

Do you get maybe fans of the show that come to the office and try to, like, look through the window? Like every two minutes. Really? Wow. I can almost not even work in the office. You know, that's crazy. When the show first came out,

I would be the only one in the office at 9 p.m. And this is, like, the very first. And it was difficult because they would come in and they'd peer in. And I would be the only one in there. And some of them would, like, knock. And I'd be like, like, like, or they go there and try to open the door. Yeah.

And it's like 10 time at night. What if it was open? You have to make sure it's long. Wow. You should. Yeah. You should. It's insane now. It's every, I would say, 40 to 50 people come by during the day.

I mean, it's every couple minutes. And but usually they just jump out of their car, take a photo in front. And, you know, we just continue working. But a lot of times they will knock. And listen, at the end of the day, I mean, I think you have a responsibility because these are, you know, your fans. and they are really happy when you go out and take a photo with them. So how do you balance going and taking pictures with people while still working?

Because I know how distracting that could be. It's difficult. I mean, I try to remind myself that it's 10 seconds of my life and it makes them really happy. So from that utilitarian perspective, I really, you know, I feel like it's an obligation to do that. But, you know, I mean, sometimes, you're trying to get work done. So it's a hard balance because it's certainly, with season four it's gotten or worse I guess I want to say

how surprised are people to show up to the office and see someone on the show in the office are they expecting like they're not going to be there and surprise I mean it's usually I'm there a lot so it's me a lot no they get pretty excited yeah for sure I did that with pawn stars I was so excited me too I did that too yeah and I was so sad to see them wait are they actually there no no nobody was there

no I sorry no one was there oh yeah oh you're same with me too I thought like for sure I'd see one of the guys. And all their shit was super overpriced. It was like actually, eh. They don't even sell something out of there anymore. I mean, they do, but it's like they put everything at such a high price because it's a novelty to be able to go in there and buy anything.

Like, look, you know where I bought this? Yeah, exactly. But I mean, everything's like 50% more than it should be. Do you watch the show at all? Have you seen selling sense? Do you watch it every time? They send us a screen. Yeah, we have to because we have pressed that asked us about it.

So they send us a screener usually just a few days before it airs. and then I watch it. Got it. I mean, I'm not someone who watches reality TV. Outside of watching Selling Sunset, of course I've watched every season of Selling Sunset. Is there anything in the show

where you think it wasn't portrayed the right way or you've seen something and be like, oh, that was taken out of context. Well, I remember like, they made me look jealous of Simu coming into the office. So, so. That was a little,

so I had not seen any, I think I saw some of season one, but I scroll and I just find myself. And I'm like, that's what I've done. But season four, right, this last one, it was on an airplane, and I watched the entire thing.

It was the first time from start to finish, all in one go was really good. But yeah, but the Simu thing, how did that take place? Yeah, they had some fun in the production bay with that. But,

I mean, listen, whatever. So was it taken out of context or not? I mean, I was not, yes, I was not,

I mean, I think that guy is awesome, but I was not, I don't think that's exactly how it went down. Okay. If you weren't doing real estate, what would you be doing? Maybe I would, you know, it'd be probably fun to own like a card shop. Maybe I'd buy and sell like vintage baseball and football cards. Or artwork.

I do like collecting art and like sports cards. So something in there would be fun. What if you were starting over and you're broke today? I mean, I take that as the same question, right? I would, well, I would do, if I couldn't do real estate, I mean, maybe. If you could do real estate, like, let's say you have zero dollars and you're starting out and some kid comes to you as like, what can I do? Give me like three steps.

I mean, you're asking me what I would do? Yeah. I mean, I would do real estate. I mean, basically that is what I did when I had that decision, you know, 10 years ago. I would make the decision every day. You're asking me what they should do? Specifically, yeah. I would do what I did.

I would join a brokerage where you partner with like a really good agent. I mean, that's, I think, more. Forget about what brokerage really. I think you need to partner. And this, I think, equates to not just being successful in real estate, but anything. As a lawyer I worked under an amazing, Dan Petracelli, who was an amazing lawyer. And I think that whatever you're doing, but let's go with real estate, you partner with a really good person to, and you don't focus on the money, you don't focus on the commission. I mean, you know how much commission we were giving up to our real estate.

partner then to Coldwell Banker. I mean, we weren't making, I think I was making 27 cents for every dollar I made in commission. But I was focusing on experience, learning, you know, building a, client base. So that's what I would do. I just focus on learning. A lot of people focus on like this get rich quick mentality. And they really just think about, oh, how can I make quick money? And I think crypto has a lot to do with it. And I think, you know, seeing other people make money so quickly in in the Metaverse or in a Cryptopunk or in, you know, Bitcoin, whatever. And so they don't have this mentality of like a 10-year plan. And I think that's what, you know, we need to get back to.

It's like, where do you want to be in 10 years? I know not to say it cliche. But spend the next three to five years building a, you know, a client base, you know, learning, becoming an expert. I mean, what happened to actually just being great at what you do? That's how I got successful just by working hard and becoming, you know, excellent at what I do. And I think people just need to focus on like the old school mentality.

Yeah. So if there's one thing out there that you haven't accomplished yet that you still want, what would it be? I feel accomplished. Yeah. I don't feel like there's an, I don't have any yearning for any type of, you know, extra success. But I would have answered that this question 10 years ago, the same.

I don't really like a, not like a goal-oriented person in that way. I just like to just keep pushing for. forward and whatever happens happens, but I don't have like, oh, I need to make this or do this or own this or whatever. I just just keep moving forward. Got it. What questions do you have for us? Ask away. How much money has the iced tea coffee hour with Graham and Jack made? With with sponsorships? Yeah. I don't, I don't know. To be honest with you, we've had some good months under a million, I think. I don't know. I don't know. I have to be honest. I have. I have no idea. Jack does all the accounting on that. I have, I have no clue. You might want to

find out. Okay, let me see what other questions I have. Okay, can you keep up the same amount of content and same quality of content that you're pushing out now? Are you going to burn out? Gosh, I've been saying this for a while now. I remember asking you, I think it was like two years ago. I'm like, geez, I'm kind of burnt out. I can't do anymore. And you told me to scale back and I'm like, oh, maybe, you know, maybe at the end of the year. And then I just, I pushed through another year. I just told you it's a marathon. I said, you got to, you know, have you got to get through at least five more years so yeah so Alex is starting to edit my videos and after this oh I know what I told you I told you to start delegating and bringing on

people oh we're still uh we're still working on that yeah yeah yeah so you had a problem with that even back then oh gosh he didn't want to do anything with an you didn't want anyone to help him yeah that's how it's impossible that's how I used to be and so I get it yeah and it was but you have to start delegating yeah I actually I called jason jason was the one who really convinced me to hire Jack in the very beginning. Really? Yeah. Because I was thinking, you know, I could do it myself. Really? And Jack came on and it wasn't on anything Jack. Jack was doing such a good job, but it was just like I. But I was there too. I mean,

I had a really hard time hiring my first assistant. And then afterwards, I was like, oh my God, how did I ever live without an assistant? I bet you you don't even know how you could do it. You couldn't go back. No, I couldn't. Yeah. Well, not with all the content that we're Yeah, yeah. But now it's almost I'm fearful of that because you can't go back. So once you do that, then that's like a permanent little brick that you put up there. And it's always going to stay there. So you can't take that away.

Are you calling me a brick? Yeah. Brick, it just doesn't leave. It doesn't. But no, the answer is I've constantly felt like I burnt out constantly. And I get like usually about two days a week where I'm just like I'm over it. But the other five days are fine. so it's like sometimes it's challenging but I push through like my goal you really feel like that

what like you don't know that no because that's exactly how I feel oh yeah I think everyone but he feels it like six days a week no but my thought was like how does Graham work so much and never feel burnt out I didn't know you actually feel burnt out and then and then like then I get that one to two days or it's like it's like a hump and you work and then you get that one day on the weekend or something where, you know, oh, you have dinner with your girlfriend, and then you do Netflix, and then, like, my whole mind resets. I didn't know you actually feel burned out.

Oh, yeah. Oh, yeah, for three years, probably. Two, three years. I felt like that. You just have to monitor your happiness. If you drop below, like, I look back, like, you know, you got to look back every six months and just be like, you know, what's my happiness?

Like, if you're ever below a seven, you should be concerned. Yeah, but I feel like there's also a time to, like, keep pushing and grinding and, like, you know, so what if you're not, like, a 10 happiness? No, I'm just saying you got to make sure you're, at least a seven. You know, my whole life,

I've always made sure that I'm at least, you know, seven. I don't know. The last year just feels like a total blur. Like,

I have no idea. Like, you asked me what I did last night or yet, I have no clue. It's, I really don't know. Fuku burger.

Fuku burger. Yeah, but I forgot because there's, there's just, it's, but you're also building, you're building, you're building a,

you know, I think you're building your finances to the point where you're protecting yourself for life. So there's a value there, you know, that you have to just,

push through. Right. So you do, you have to make some sacrifices. If you were, I mean, I think, I guess what I'm saying

is probably more relevant to somebody who's, you know, not making as much. Because I think when you're making enough to where you're really securing your financial future,

you got to just push through. Right. It's difficult for me because originally that was hiring Alex and having Alex edit my video. So he's been doing that. But it's odd because sometimes for me, editing is my way to reset my mind.

And now it frees up, like, let's say five hours. So, 15 hours a week now. It's kind of freed up for me. But my editing was a way to like kind of like, just zone out for a little bit, get a video done,

and then I'm refreshed. But now it's like when I finish a video, so planning and filming, I handed it off to Alex and I'm like, I got to go back to planning. So I don't have that like five hour. So I can't increase my own productivity because I get back to planning and I'm like,

everything's crap out there. There's nothing to talk about. Versus before where I would edit, I'd have that five hours to zone out and then come back refreshed. Maybe I've got to find something else. I get to edit a little bit more. I don't know.

Yeah. But I mean, I'm just a belief, I have, you know, I delegate the hell out of things that I don't, I'm not needed for it. I mean, I think that's the trick to anyone becoming successful. Do you think Graham, Graham has this idea and, and I don't have an opinion on it just so you know. Graham has this idea. Jack has a different idea. Graham thinks that he can't really delegate like script writing because that's kind of, the videos are him, right? And then Jack thinks, oh, I don't know what Jack thinks.

I don't want to speak for him. But some people do say that he can delegate script writing. I think that at some point, I don't think it's black and white, but I think at some point you should obviously hire someone to do scripting. And you can review it or not use it. But I think the natural course of where you're going is going to have to be people, you know, doing more scripting and you doing less scripting. I don't think it has to be all or nothing.

It's just tough because once I make a change, I won't go back. But don't you get ideas from people? So that's like, you know. Ideas from the comments or the best ideas just reading the comments. Yeah, so that's scripting in a way. I mean, so it's just, it's a, you know, a gray area in terms of a, it's not black and white. But I would say that's scripting, getting ideas, getting comments, getting things to talk about. And then the next step would just be someone creating bullet points for you.

And you review the bullet points and you highlight the ones you like and you script from there. But I mean, so it's a, it's a progress. But I definitely think you have to start delegating that to some extent. Sure. Yeah, I was thinking, I told, I think I told both of you, by the end of the year, I wanted to go down to two videos. And now I'm at the end of the year, I still want to, once, if I go down to two, it's forever going to be two. Yeah. I can't do it.

Yeah, we've been grinding the three videos. Is that a financial hit if you go down to two? Possibly. Maybe. So Jack says I would make more because by doing two, I could dedicate the extra time to finding sponsors and have like a 100% fill rate. So every video would have a sponsor in it. Whereas right now, maybe one in three as a sponsor. I would do less work and get more money for less work.

But then it's like, then every video is sponsored. I don't think it matters. I don't think it matters that much. But I could do three videos that we can have them all sponsored too. Yeah, but you're not doing that. I know. Yeah, I think maybe go down to two and get them all sponsored. Then you make just as much money for less work.

I don't know. Yeah. I just see it. I'm taking this yet. I'm just going to open. So I just moved the goal post a little bit. So it was the end of the year. And now I'm thinking my birthday in April.

Then I could, if I could keep three videos up just until April. Well, I mean, you got to, it's a marathon. I've always told you that. Same with real estate.

I mean, I'll be honest. I don't hustle like as hard as I used to. Like I will, you know, delegate a million. I used to do a $700,000 condo.

You know, and now I'll delegate, you know, a million, $2 million, a house to other agents. Because, I mean, quality of life matters. You know, so you got to, so it's not, I mean, I'm not going to delegate a $5 million house, and I'm still going to be totally involved because that's just my personality.

But yeah, I mean, I just delegate more and more as I, you grow. Some other advice that you have. I mean, I don't know if I'm great at advice outside of real estate. Really? Yeah. It's got to be something. It's not really, consider it a business. Business, financial, whatever it might be.

I mean, I enjoy, I enjoy investing. I mean, I enjoy financial. investing. But I think I have a very biased take towards it because I invest a lot of that in real estate. But I enjoy stocks. I enjoy like little quick plays in the stock market. But at the end of the day, I'm smart enough to know that nobody really knows about stock market, cryptocurrencies, metaverse. I mean, it's just gambling. So I wouldn't want to pretend to advise about that. What about advice for Alex? Myself, any questions you have for us?

So your chance to flip the script here. I don't, I mean, I'm also not good. I would suck over doing your job. Okay. Yeah. What did you think when, uh, when Graham was growing on YouTube, did you see that inevitably he would have to leave the brokerage? No.

So, I mean, that's a good question because I, when Graham first told me he was going to start doing YouTube, I rolled. Yeah. You know. Jason had a talk and he said, if you, if you, if you just stick with this, you, you, I guarantee you'll make like 700 grand. In real estate. In the next like, you know, two years.

All you got to do is just stick with this. Really? Yeah, no, I was not a fan of him doing YouTube. I'm like, bro, come on. And then he wanted to do it out of the office. I'm like, no, I can't. I remember that. He told us he would,

he would wait till everybody was out of the office and he would film. Yeah, exactly he would. I was so embarrassed because one time I think it was Devinna, I was in the upstairs on film like something. And I heard the door like, beep, beep. and I sat there with like the phone up that I was so embarrassed

that's living a can in and I was like do I say I'm here do I spooker if is it? Yeah that's what he would do he'd be upstairs doing YouTube yeah so you were convincing him to I didn't I mean listen I mean

that's on me but because yeah I was saying no focus on real estate but I mean come on you know people get into YouTube and aren't successful yeah I mean probably 98% of people yeah it was interesting it was just a feeling I had I couldn't explain it.

And I told Jason this. I'm like, I feel like this is what I have to do. I think you have some unique qualities that are really good on YouTube. Like you're really smart, but you're able to relay that to people. Whereas I think a lot of really smart people are not, like I would be terrible on YouTube. I don't know how to like connect to that audience. So I think that you have that relatability. Of course, I mean, how would I?

I know that at the beginning. Yeah. Plus now I've lost a great, he was one of my top agents, and now I've lost a great agent. But you know what? You know how much money I make off a gram now? Jack, and nothing.

Oh, no, no, yeah. But you know what? You did help me in the beginning, and I don't think I've ever expressed this. In the very beginning,

you were really upset at me for swearing in my videos. And, oh, he called you out? Yeah. Yeah. Because in the first few,

because I saw YouTube as like, no, like, No one was adding any personality to find. Finance videos didn't exist. And the people that did the videos were like in front of a whiteboard and they'd like, you know, write stuff out. So I came in there. Are you making fun of Jeremy right now?

Well, Jeremy, no, this is before even Jeremy. Oh, before Jeremy. But Jeremy had the whiteboard too. But no one came in with the personality of like swearing. So it like caught people off guard. And so when I would say the F word or like, you know, the S word or whatever in a video, everybody was like, oh, this is so refreshing. It's like some, they could relate to that.

because it was more on their level just a bud who's messing around talking about personal finance but then you came to me and said you did not want me swearing because it was a reflection on the Oppenheim group and in the beginning I'm like this is it then you know because then I felt like

I'm not given my full personality and then I have to like censor myself on YouTube and it turned out to be the best decision that I didn't swear because shortly after that YouTube went through the ad podcast I think it was like that year where they demonetized any content was swearing. And so because I had been built up this audience without swearing and a really clean image,

it worked in my favor. Okay. In the beginning, it was something I was just like, oh man. So in a way he made you money. Yeah. Oh, yeah, yeah. Oh, absolutely. And now we don't swear at all.

Like you've said a few naughty words here. We edit those out. Yeah, because I watched one video. Maybe I picked the wrong one. But I'm like, you know what? I've never watched New Graham's videos. I got to check one out. And I did.

And I just watched like two minutes of one video. And I heard all this cussing. I'm like, bro, you got to knock that off. I was freaked out. I'm like, is that in every video? Was he recording in the office too? No. Oh, okay.

No. But no, in the office videos, I didn't swear. Yeah, I think he at first said that he's like, what if I don't swear when I'm in the office? But I mean, I wasn't trying to like, you know, manage your content. But I didn't, he was an agent the Oppenheim group. And I just, you know, I'm very protective of the broker. Yeah. I put, I'm thinking of it.

If I were in your position. I'd do the exact same thing. I'd be like, this isn't a good reflection. Like, if Jack started a channel, but if he's out there just, like, cursing and doing whatever, I wouldn't want that, because that would come back on me if something were to happen. So I get it.

I mean, listen, I had such a disconnect from when you were, like, you were like, oh, outgoing and, like, energetic and, like, cussing. And that was not very much my personality, so I was like, holy. The turns of table, now you're the one who said some naughty words. to bleep out. Yeah, I probably care less now than I used to. I mean, at some point, you just have to stop, you know, caring this much.

But I want to go through life. To the story. Yeah. I'm always curious now, if I swore in the videos, how that would impact them today. If people would find it now, I think the audience. It also depends on what words you're talking about. And it depends on your sponsors. I mean, you just got to be careful with your sponsors.

And that's true, too. Yeah. I mean, people are so f f f f fencing. No offense. But they really. are. I mean, it's just unbelievable how many haters are out there and how sensitive. Actually, I don't even think it's real sensitivity. I just think that there are people that just love getting worked up. Like, I don't know if they're just super bored or not happy or whatever it is.

Yeah, I feel like that's been social media for a while now. Just people will get worked up on Facebook. I don't read, I don't read comments. I don't do Twitter. I don't, I just can't deal. I cannot deal with like all of the over sensitivity and hating out there. I just can't. I'm sorry. I don't deal with it. I don't even watch, I can't even deal with news. I mean, every news channel is either so left or so right.

I mean, you can't watch, I just, I'm so over all of it. I just, and I'm way happier. But the thing is, that gets views.

So, like, I've noticed even on YouTube. Well, that's what all, that's what all contents about is views. But the drama, people love that.

So I posted a video on the, the island boys. I don't know if you're familiar with them. Okay. Well, they walked out of somebody else's podcast because they were given

financial advice, and they did not want to hear it. So I did a video analyzing their finances and why they walked off of the podcast and why that was a good or bad decision. And that video on that drama got like five times of views as anything else because it was like. I mean, I'm on Silling Sunset. I mean, I, I, yeah, exactly. It does well. I mean, it does, yeah, it does well because of the drama, I'm sure.

But I'm just, in general, I just think, you know, we're so geared towards, I mean, everything has to be a five. or a tornado or a car accident or, you know, I mean, everything is so negative because it's clickbait. I mean, everything has been reduced now to what gets people's, you know, what raises people's cortisol levels. That is literally what, you know, most things are right now. And it's just, yeah, I don't want to engage in that. Did you see that movie with Leonardo DiCaprio?

Yeah. Yeah. It reminds me of that when they're like, well, we see the, the metrics on this. And we got a spike right here, but then it's die down. So it's, we can't push this anymore. Yeah. But it's true, but that's, that's what happens. happens with YouTube.

I mean, that's what I almost like, almost like a public news channel. I mean, isn't it, isn't it like PBS or something? It's boring, though. I know, but that's what news should be. News should not be like clickbait, you know, and then super biased towards one political party.

See, that doesn't bother me. What bothers me is, I guess, the cancel culture. Yeah, that too. If something happens, people will latch onto it and then just go crazy. And then everyone is like. I really enjoy, you know, people falling. I mean, it's just, I don't know if it's just like a human nature thing.

I think it's a human nature thing. I don't think there's anything new. I mean, I was so paranoid. It's just easier now to like, to get involved in that. And not of that, but then you get a community behind you who all believe the same thing. So you're part of this big, you know, group of people who all want to like hit on this one person. And you feel better as a result.

And they're like, that's not me. Yeah, I think people feel better about it too. Yeah. I don't know just unhappy people out there. I don't know what's going on. But listen, I mean, you know, there's, you can avoid it. Like, I generally just avoid it. I mean, I don't read news, don't watch news, don't engage in comments or read comments or really anything.

And I'm just reading the comments? Because I also just genuinely don't really care. You know, so I have like a, you know, I think that's, I got lucky in that respect. I'm just not particularly sensitive to what other people think. And then maybe that's a bad thing. I don't really care. See? I don't care.

Yeah. But yeah, I think I'm just kind of immune, you know, it doesn't, if like some article comes out, it just doesn't bother me. I'm not very sensitive. I'm happy. I know who I am. I know my relationship with my family and my friends. It's really all that affects me.

But do you think there could be something where you have to speak up if something impacts the business? Yeah. Now I'm worried it's like anything you do or anybody does, then is back on the Oppenheim group in such a big way. You don't even need to do anything. Right. I mean, quite honestly.

Right. You just, if you're a public figure, I mean, you know, you're a target. Yeah. So, yeah, I have not had to, but, you know, I mean, I would definitely speak up if something, if someone got wronged. Yeah. If anyone on the team got wronged. Does that worry you, though, that it's just like so many eyeballs on the Opinine group

and just, I guess people not working with you as a result or like. I don't like spend my day worrying about this stuff. You know, I mean, I just do, I just act in a, you know, in a manner that. that I'm, that I should act. But yeah, I mean, listen, any time you're in the public eye, and I think it's particularly sensitive now, with cancel culture and everything else and just a lot of political correctness,

I think that any little thing could get blown out of proportion. So, I mean, I've always encouraged everyone. I mean, I've told every agent, you know, on the cast, as well as off the cast for years now, just, you know, need to always act as though you're being videoed. always act as though you're being recorded in video. And quite honestly, you know, I mean, I think people should, first of all you are, I mean, almost all of us now.

But, you know, it's been nice because no one is really, no one's an idiot, no one does stupid stuff that I'm aware of. So, you know, nothing has really happened. But I think you just have to be extra careful because nobody loves more than, you know, a public figure screwing out. I mean, I was so paranoid when you hired me. I never expected to be on camera.

first of all, ever, because grandma hired me as an assistant, but I was so paranoid that I don't know what, I didn't even post bad things, but I deleted my whole Facebook when I moved out to Vegas. I made a new one. But just because I was paranoid, like, because that's the culture that we're in. Oh, I mean, yeah, you have to, when I went, I was becoming a public figure. I mean, I've never, there's nothing in my past that I'm, that would be concerning. But they definitely go through, I mean, I've never had to delete a post or anything I've ever said. But yeah, I mean, anything that you've ever done wrong would come out.

I mean, any acquaintance or friend would sell you out, you know, and I guess not a friend. But I mean, if you'd ever done anything wrong, you cannot be a public figure. I mean, it's just, it's unbelievable because they would look at everything. Yeah. I wonder if there's a service that you could pay that would look through anything in the past. Well, actually, I think Netflix goes through and make sure that you're, yeah, because you can imagine if they build a show and someone on that show, you know, has done something. And then it comes out later. then the show has to get canceled.

So no, they do their research to make sure that there's no... I mean, you could never do everything. But, yeah, I mean, at this point, if anyone on our show had probably ever done anything, it would probably be out. Yeah. You got to knock on wood. Let's not jinx anything. You don't knock on wood? No, I don't. You don't...

No, I don't believe in this. Okay, I'll do it, though. Oh, there we go. He saved it. Cool. Is there anything else? I think we're... No, I think we're good.

Yeah, I think that was good. Anything else you want to say? No, no, I'm good. It's just good to check out your house. It is. Yeah. First time seeing what do you think of the house? I love it, man.

Yeah. It makes me want to buy something in Vegas. I think you should. Yeah. I might. I mean, I wish I bought like a year ago. But no, this, I like this community. Yeah.

You're still building. Why don't you just sell me this at the same price you, you know, you paid for it? Plus Bitcoin. Plus a Bitcoin. I think you should buy up here. I mean, I like this gated community. And this is like the right size house for me. Cool.

Yeah, well, I'll think about it. All right. I'll convince you. So thanks so much for coming on. Where's the camera? See you guys. Oh, and then you got to make sure to get your free stock down below the script for when you signed up for public.

Did you do that yet? It's worth all the way up to $1,000. I'm not worth my time. No, you can just say yes. Just say yes. Yes, sounds good. Okay, there we go public. You can get one to.

Public. I'm available. I have not done a collab ever. All right. Let's go get him as free bankroll coffee. Oh, yeah. I'll give you some bankro coffee. Okay, that's available at bankroll coffee.

All the plugs. Thanks man, that was perfect. Oh, cool guys, thanks. I'm sure I'll get in trouble with something, I said.