Ep 362: Fix My Flip ft. Real Estate Guru Page Turner - podcast episode cover

Ep 362: Fix My Flip ft. Real Estate Guru Page Turner

Jun 07, 202342 min
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Episode description

Tiffany is joined by Page Turner. Page is a real estate broker, house flipping expert, and the star of HGTV's "Fix My Flip". The ladies discuss the biggest mistakes sellers and buyers make and Page gives great advice on how to make the best decisions when buying a house. Tiffany breaks down her process while buying her condo and Page assures that she did the right thing. Page also schools us on what "house hacking" is and how we can use that to our benefit.

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Transcript

Speaker 1

Hey, hey, hey, we're back. We're black, We're brown.

Speaker 2

Ambition, ambition, ambition, ambitious, ambition. Hey hey, hey ba fam Mandy officially had her baby. She is now a mother of Uno dos two beautiful boys.

Speaker 1

Rio is her first.

Speaker 2

I think Real's four now, and Remy the new baby. We loveing the literation.

Speaker 1

Queen.

Speaker 2

Rio and Remy and Mommy and baby and daddy and Rio.

Speaker 1

Are all doing really well. Sorry.

Speaker 2

You can catch up with Mandy at Mandy Money on Instagram. You know, send her some well wishes. She has the cutest picture of the baby. The baby is perfection. But Mandy's doing good. She's taking her break and so you know, we wish her well and all this love. But I am here in the stew acting up because you know, when Mandy's not here, I get to act up.

Speaker 1

But I'm not alone. I have a special.

Speaker 2

Guest in here with me today to keep me partially in line.

Speaker 1

And her name is Page.

Speaker 2

Page is a real estate broker and a house flipping expert. Page Turner, to be clear lands her expertise to Southern California's overwhelmed flippers in HGTV's Fix My Flip.

Speaker 1

So you know she'd be on the TVs and Things.

Speaker 2

Page made her HGTV debut on Flipper Flop Nashville and appears as a guest judge on the hit series Rock the Block. In addition to being to being a licensed real estate broker in three Uno Dos Trace three States, Page is a certified personal trainer and co owner of the Jopa Life, a fitness and clothing brand. She also completed in season four of Rock the Block alongside contractor Mitch Glue. So we welcome Page to the stude a reader from all that.

Speaker 3

Thank you so much.

Speaker 1

We love an impressive for you.

Speaker 2

We love our extra hyphenated impressive queen. So question, you know, so fitness and real estate, those are two totally different things. So what came first or was what was your your first?

Speaker 1

Foray?

Speaker 3

Well, first was real estate.

Speaker 4

I've been a licensed real estate broker just about twenty years, so that's.

Speaker 3

Been my girl, my right hand woman.

Speaker 4

And then I realized I have to stay fit to stay in this business.

Speaker 2

So afterwards, so twenty years, I mean she started when you were five, because if you guys could take a look on YouTube page to its twenty five.

Speaker 1

So okay, twenty years.

Speaker 3

Twenty years.

Speaker 4

I just hit the half century marks, Tiffany, So I'm still coming to.

Speaker 3

I'm still I'm in disbelief that I'm fifty.

Speaker 1

So how I say it's because I'm like fifty where right?

Speaker 3

No?

Speaker 2

No, no, I'm twenty great, but you don't look a day over like twenty five thirty for real, I'm like.

Speaker 3

And you knew nowhere near forty three you had the skin is skinning?

Speaker 2

Okay, So let's talk about real estate, right, So twenty years ago, how did you enter into the real estate game?

Speaker 1

Like, how did that even start for you?

Speaker 4

Well, I am, well, my kids are super adults, but I was a single mom three kids under the age of three, two of them were twenty and three girls at that so you already know, miss you know Budgetsta. My money was out the window for a long time, and I just had to find a way. I acted out of college, have gone I decided not to, and

then I had a great job with Magic Johnson. But then I had three children in Los Angeles and I was like, I'm afraid I'm going to be struggling for the rest of my life, and I just had to find another way outside of the hourly you know, or even you know, salary position, you know, to raise my girls with everything I wanted to provide for them, and

really state became an option. I was didn't know anybody who owned a house besides Magic Johnson in Los Angeles because they're so expensive, and this is thirty.

Speaker 3

Years ago, there was still expensive. And so I found in real estate. Somebody just said you'd be a great realter, and I.

Speaker 4

Was like, I don't know what that means, but you know, because I've been renting my whole life, so let me go check it out.

Speaker 3

And I did.

Speaker 2

Okay, so you started off as a realter. Yes, do you remember your very first sale and like what you made? Like what you know it was?

Speaker 4

It?

Speaker 2

Was it?

Speaker 1

The rental property that you hit to out? Was the house?

Speaker 4

You know?

Speaker 1

What did that look like?

Speaker 3

It was?

Speaker 4

His name was Henry, I forgot his last name. But it was a trailer in a trailer park community. I didn't even realize the land didn't come with the trailer. That's the biggest house I've ever seen in my life. I'm whitting the box and I don't own the land, but I have to buy.

Speaker 3

The box anyway.

Speaker 4

Another in the whole other segment, right, But that was my first sale, and I think it was around twenty thousand dollars.

Speaker 3

And so that three percent about you know, six hundred.

Speaker 1

Bucks didn't make you say, like, way I could do this?

Speaker 2

Like how long into like you starting to become a realtor did you make that sale?

Speaker 4

It was probably in the first six months. And then after that I had my feet wet and I only knew I just moved to Nashville. I only knew three people, maybe five people at that time, and I went to a great church. And so after that hump my first year and a half in real estate, I mean I bought a house the next year, everything just like has been going since. It doesn't mean there weren't any valleys in all my peaks, because real estate is in peaks

and valleys, as you know. But that was my first launch, and that's when I realized that when you run your real estate business is a business, then you.

Speaker 3

Learn off facets of real estate.

Speaker 4

So I can sell a ten thousand dollars piece of land to a twenty thousand dollars trailer to a five million dollar house.

Speaker 3

I learned the business of real estate.

Speaker 2

Okay, I love that, cause I was going to say, I know a lot of my friends who are like realtors, but you know, like it's only on the side, and so it's you know, and it's difficult to be a full time and two different totally different professional professional you know, professional. So no, I I could see that that like if you make realty your business, like selling or real estate your business, how you can expert that the process of

the learning curve. So do you remember your biggest sale where you were like, oh, my goodness, this is a big expensive thing.

Speaker 3

Well, I mean the most expense.

Speaker 4

You know.

Speaker 3

I live in Los Angeles now, so you know.

Speaker 4

But in Nashville at the time, my biggest sale because I've been back home in LA for four years, my biggest sell in National at the time as my career was growing, was about two and a half million, you know, and that's well not really anymore, but at that time it was really big in Nashurally, everything's expensive now, you know, so but that was huge for me coming up and you know, out here I hit the should I tell you, I it's like talxibility big. It's not even that big yet,

you know, but I've done a five million dollar transaction. Okay, so you know, I'm there's that's the tip of the iceberg in LA though. Yeah, I'm back home and I'm licensed and my show is going.

Speaker 3

I'm like, okay, now it's to really get my feet wet.

Speaker 2

No.

Speaker 1

I love that.

Speaker 2

So, so if somebody what are some of that, because right now we are in a very weird mark. I love your take. Like the market that we're in now, I feel like, you know, people are wanting to buy a home. They're like, should I wait? Should I buy now? Is the Should I wait for the interest rate to drop? Should I just be financed.

Speaker 1

With you know what I mean?

Speaker 2

Like, so, what's your take on this current housing market? Is it a buyer's market? Is it seller's market?

Speaker 1

Is it neither? So what's your take on this current market?

Speaker 3

Oh?

Speaker 4

This take, it's neither. It's right in between. You know what it is, it's selling real estate.

Speaker 3

So I tell people.

Speaker 4

Answer one of your questions first, Okay, should I buy a house now or not?

Speaker 3

This is my take on that.

Speaker 4

If you're in a position to buy a home, and if it makes more sense to own than to rent at this time in your life, then buy the house.

Speaker 3

Just don't buy the house singing In.

Speaker 4

Six months you're going to make a four hundred thousand dollars you know, profit off of it, because that's not there anymore.

Speaker 3

Buy the home to live in it, to love it, to do.

Speaker 4

Whatever you need to do, if anything, as far as you know, any renovations are. But buy the home for the long term. That's five to ten years. That's what it used to be. Not this. You just pull up in a house and then in six months it's worth you know, three hundred thousand dollars more. That was I mean, it was realistic but also unrealistic way to build wealth in real estate because it had never happened before.

Speaker 3

But that was due to historically low interest rates.

Speaker 4

But then that also caused the values to go up to a historic high. So the two and three percents are probably long gone. Six percent, six and a half percent, even seven. It's not the end of the world. When I bought my house, we were eight and a half percent. Interest rates back in the early two thousands. You go back ten years before that, they were in the double digits, and it was normal.

Speaker 3

If you're ready to buy, you buy, okay.

Speaker 1

So so neither a seller's market or a buyers market.

Speaker 2

It's just basically kind of like a free for all, and so yeah, we're ready to buy, are.

Speaker 4

You know, because there's some bubbles still Florida. I would think people were running from Florida, but that bubble is still growing Ohio. I mean these are growing bubbles still in a seller's market. So it just really depends on where you are. But for the most part, I think we're at this even balance where properties were staying longer on the market, longer than twenty four hours, you know, it's like, oh, thirty sixty ninety days on market.

Speaker 3

That used to be normal.

Speaker 4

And then at the same token, buyers aren't rushing out to buy, but sellers aren't rush rushing to sell.

Speaker 3

So we're doing this right.

Speaker 1

Now because I live in New Jersey and so I have seen likes go for.

Speaker 2

I mean for long time homes we have gone for fifties two or like one hundred thousand overasking and now just it's still a little crazy in Jersey. So it is one of the markets where there's still quite this bubble where things are not staying on the market. Like it's not like what it was during the pandemic when it was super crazy. I mean they were even hitting the market. Things were just being bought off market.

Speaker 4

Yeah, I mean a lot of new realtors who you know, bad their license maybe under five years. They don't even know what DOM days on market means. That means your house is on the market for an average of thirty sixty ninety days, not before it hits or twenty four hours after it hits the market.

Speaker 3

They don't know, you know.

Speaker 4

And I feel kind of bad for some realtors who are newer in this business because, with all due respect, realtors do a lot of work. But houses were selling themselves for a long time, and now we have to get back to marketing, get back to promoting, you know, promoting and property doing open houses, and it's the real business.

Speaker 3

Of real estate.

Speaker 1

I love that.

Speaker 2

So I want I would love for you to give some advice to like two sides. Right, So people are selling their property, whether now or whenever. What are the biggest mistakes that you see sellers make and the reason why their houses don't sell?

Speaker 1

Like, you know, what are those mistakes?

Speaker 2

And I'd love to know what are some of the biggest mistakes that buyers are making when they're looking to purchase, and what they can do to fix it.

Speaker 1

So let's start with sellers.

Speaker 2

First, someone comes to you and says, hey, Paige, I want to sell my house. I think it's worth a bajillion dollars or whatever it is, Like, what are your things feel like?

Speaker 4

Loan?

Speaker 2

We're gonna have the course correct before we put this on the market. Like what a mistakes are sellers making?

Speaker 3

You put that perfectly.

Speaker 4

The biggest with a first mistake, which is the biggest, is an unrealistic profit margin of where the market is and thinking their home is worth more than it is and going to Zilo or you know another I'll just say I won't i won't pen boring Zillow. I'll just say at dot com who doesn't have accurate updates immediately as your license really state professional will from doing a hands on comp. You know you've heard the saying you know you lie, numbers don't lie. So you have to

course correct. You have to sit down and do a real listing presentation and show the numbers of the left. I don't even go six months back anymore for a comp. I'm doing the last thirty to sixty days.

Speaker 3

Because the market has changed that much.

Speaker 4

You know, if you give me a comp from six months ago, I was like, that's a completely different market. January was a different market, March was a different market. We're in second quarter now, so what was going on at the end of first quarter. That's what I'm showing client, So first an unrealistic expectation where the market is and being able to console them that your house is not worth what it was then and this is why.

Speaker 1

So can we get clear? Can you say pay? What's a COMP just so people know it before you go on?

Speaker 4

So a COMP or you might have heard CMA comparative market analysis, So a COMP is one a real estate professional will pull the most recently sold properties within the immediate community, like within a mile and a mile and a half, search of properties that have closed. Now, I also comp active and pending properties because that gives us an idea of where sellers slash agents are listing a property and like what the marketing is.

Speaker 3

In that neighborhood when they're active.

Speaker 4

But just because you list a property for sale does not mean it closes at that price.

Speaker 3

So what's most important that the appraiser is going to run.

Speaker 4

And look at as well is to see what is closed within those last sixty days, let's say, not comparing apples to oranges. A property that's a comp that's most like your subject property, the listing that you're going after.

Speaker 2

Okay, so like like bedrooms to bedrooms, bathrooms to bathroom, square footage.

Speaker 3

Stories to stories. You can't comp apples to oranges.

Speaker 4

And you can't comp a two story house that has five thousand square feet to a one story house that has fifteen.

Speaker 3

M square feet.

Speaker 4

Now I can do it because I don't want to make adjustments, but it's just not it's not a fair analysis to provide to a seller. So you want to be as close to possible as you can to show that seller what's going on in their neighborhood with homes just.

Speaker 3

About like theirs.

Speaker 2

So one you said, sellers make the mistake of thinking their property is worth too much. What's another mistake that sellers might be making.

Speaker 4

Another mistake is relying on the dot coms instead of their real estate professional and.

Speaker 3

Not looking at a printed.

Speaker 4

Comparable market analysis of what's going on in their media market and then digesting it and saying and accepting the truth like, Okay, here are the numbers, Like I can't make these up. This is what these homes sold for most like yours and this is where you are.

Speaker 1

Okay, okay, what about it?

Speaker 2

Do you think like sellers, should they be staging, like professionally staging or just even just personally staging.

Speaker 4

Oh, we can go to number three, four and five and six they're making so yes, so properly present okay, accepting.

Speaker 3

That we're in this new market. Number one.

Speaker 4

Number two, properly positioning the property on the market to sell it.

Speaker 3

So that it doesn't sit.

Speaker 4

You know, at the end of the day, a buyer is going to determine what any house is worth purchasing what they're willing to pay for it, right, So that's number two, number three, how they're presenting their property. So that does go with staging. Now, if they have a beautiful home already, and we can just move some nick knacks around, declutter, you know, do those basic things. Maybe

lighten up some paint, change a few light fixtures. You know, not going overboard all the time is necessary, but sometimes you need a full on staging company, and especially to save a house is vacant.

Speaker 3

I have a client right now. I had I'm sorry, I just had a flashbag.

Speaker 4

I was about to roll my eyes and say some things, but just in case she watches this, you know, not only not have to send her and I have a television show on it. And sometimes people just get so you know, they put on their blinders and they just get so stubborn that they just won't accept any other way.

And staging is a huge way to add a buyer value of interest wise in your property when listening it and when it's vacant, especially in a challenging home that might have you know, just odd angles or an odd layout, you have to spend the money stage it to get the top dollar as close to as possible that you're shooting for.

Speaker 2

Okay, all right, so they don't position there, they don't position their property correctly.

Speaker 1

What else we can go into.

Speaker 4

Sometimes sellers want to over renovate a property before they sell it because they think they're going to get more money. This will go hand in hand with guess what how you're going to list the property on the market based on your comp Because when a real estate professional is doing a comp they're not just looking at the numbers, they're also looking at what renovations and upgrades have been added to a property.

Speaker 3

To get to that list price. So it's not always needed you know.

Speaker 4

To do this full renovation because you don't want to outprice yourself from your comp from your market area. So you know, again walking through with the real estate professional will help that as well.

Speaker 3

So what's that number four or five to the Yeah, like four or five.

Speaker 2

So you mean something like I remember my my realtor told me something to the effect of, like, you know, like I would you know? Of course you think to yourself, if I spend one hundred thousand dollars on the kitchen, I'm going to get back.

Speaker 1

One hundred thousand.

Speaker 2

She's like, uh, that you it's not one hundred to one hundred that you might renovate for one hundred and get back sixty percent of that as it results in like the increase of value. So where would you say if a seller was going to put the money toward renovating, Is it still bathrooms and kitchens or are we thinking something else?

Speaker 3

Now? Well, of course it's bathrooms and kitchens.

Speaker 4

It's if you can open up a space if you're in an older home, of course, open that space up, but it shouldn't exceed fifteen percent of your ARV after repair value of your home. Now we're going to do a full kitchen renovation add an extra five percent on top of that, So you really shouldn't be in for more than twenty percent of what the value is going to be when you're done with repairs, and of.

Speaker 3

Course let's just say it is at the top of twenty percent.

Speaker 4

Well, let's see, now, what do we have to do, because you don't want to spend it all.

Speaker 3

If you don't have to, you might be.

Speaker 4

Able to, you know, bring it back a little bit and just do you know, odds and ends here and there, just to have a better presentation on the market. So for bathrooms, if you can expand a closet in a primary bedroom, absolutely, light fixtures, paint, If you have old school vinyl, you might want to consider tile, but that's done in the budget.

Speaker 3

Then you just have to do what's best for your market area.

Speaker 2

And also too, I wonder if so I just bought a condo. It's a beautiful hundred year old bill I love historic like my home. I own a house and it was built like a hundred years ago, like nineteen nineteen and then and then. But I also bought a condo not too far from my house, and it's beautiful and it was built like ninety five years ago, and it's I don't know, there's there's a condo in your call. I think it's called the Dakota. And so this was supposed to be like back in the day, it's in Newark,

New Jersey. In the forest sale section.

Speaker 1

This was supposed to be like the the.

Speaker 2

Answer to the Dakota in Newark. And so, but it's really beautiful. You could tell it was like top tier luxury because my condo is twenty eight hundred square feet, five bedrooms, three and a half ath yeah, fireplace, a huge picture window to New York City. So this was supposed to be like we're the wealthy, you know, like yeah,

So I loved it for that reason. And plus I've lived in NewYork for the last I don't know, like ten fifteen years, and I love living next to the city without living in the city.

Speaker 1

And so anyway, I bought it. And so I remember the woman whore I bought it from.

Speaker 2

I want to say that she purchased it, I think from the city or like a tax deed or whatever. She purchased it and then she renovated it. I don't know how much she put into it. But to your point, the mistakes. One of the mistakes she made is that she priced it super high. So I saw that she approchased it for three seventy five. I think, give her take because I know them, I know the guy who did the renovations. It was about one hundred thousand dollars

with materials that she put into it. So you figured six three seventy five four seventy five. She put on the market for six seventy five. So she's trying to make two hundred thousand dollars during like pandemic when things were selling. But the issue with condos or HOA fees m and so you think to yourself, even if you could afford the condo itself, the bank is also like you can you also form because the HOA fees are not inexpensive, I'm always candidate. The mine are nearly thirteen

hundred dollars, you know. And so so she kept it too long at that price point. Then she dropped it down to six fifty. But I feel like all of her dropped down were months too late, you know. And then she dropped it down town too late, yes, miss, And then she dropped it down to five to seventy five, and then then she dropped it down to five forty or five to fifty, and that's when I came along and I tried to offer for seventy, which she was not happy about.

Speaker 4

Because I was like, it's cash, but yeah, girl, yes cash. Yes, first of all, I celebrate you for that. Yes, absolutely, yes, yeah. You know people they don't they This is what I tell people when they're when we have to do the first price rop because they.

Speaker 1

Don't listen to me.

Speaker 3

In the beginning.

Speaker 4

I said, would you pay this much for this house at this amount and this time? Yes, easy question. If the answer is absolutely not, then were priced too high?

Speaker 1

Yes?

Speaker 2

And I think that she because she knows like one like and there's a train station that's going to be going directly to like New York. New Ark already has a number of train stations, but there's a new station that they're building down the street that's going.

Speaker 1

To go directly to New York.

Speaker 2

So I think it was all these things. It's like, you know, you can't recreate this building. And I understand all those things, but I'm like, girls.

Speaker 1

Still Newark. I love Newark, but it's still Newark.

Speaker 2

You tried it, and so I got her down to five twenty because I was paying, like I said, and so but I mean this, I don't plan on selling. This is something to add to my trust and my heirs will have it later, and so that I think that was a huge mistake. Plus it was odd though, because she renovated it so specific her style. She's a textile I guess, like real and textile retail, I guess, and so everything was like really bright, bold patterns and every tile was different.

Speaker 1

Every it was.

Speaker 2

So I also think one of the reasons why people didn't buy is because they didn't see, like because I'd just done a renovation, so I could see a lot of the renovation that was necessary was really just cosmetic, you know, because she had done the work thing God, because the place is.

Speaker 1

One hundred years old. She had done all the electric.

Speaker 2

And all the plumbing, which that would have deterred me from buying it if I did not know that that had been done enough to code and we got to pull permits, and I was like great, So I was like, girl, some pain sometime I got that, you know, And so I was fortunate to purchase it. And then sure enough, another unit in the building just sold for five fifty just a month after mine sold. I know they were happy because they got a comp.

Speaker 3

I was just thinking they had a good comp.

Speaker 2

I know they was like, yes, because they're on the eighth floor and I'm on the second floor. Although the building is on the hill, so the second floor is closer to like the six or seventh floor in the building. So that's why I have such great views. But so they're on the eighth floor, so they have these three sixty views, and so you know, but we're about the

same size. But I just share all that to say I feel like as a seller, she made all the mistakes that you're mentioning, and she maybe she could have gotten the five seventy five back then, you know, had she dropped the price sooner, and but you know, I got this beautiful place that I get to keep. So now that we've talked about sellers making mistakes, and maybe that's one too, you do think, well do you think this, like unless you think someplace is gonna be your forever home?

How specific should people get with like making design choices?

Speaker 4

You know, like that should be you know, one of our points, thank you for bringing it up, is you know, selling when you renovated it so designed specific to your take instead of thinking that, you know, I might sell this in the next five years, so let me just renovate it for the market in something classic that will you know, laugh, and then I can just decorate it like with my staging, in my own taste. If this

isn't going to be a forever home. And of course we buy real estate, you know, real estate's an asset. We don't know if we have to sell it one day or not, you know what I'm saying. But if you most people know, like you said, I'm going to buy and hold this. You know, I don't have any intentions of selling it, so I can make it my

own for now. But you know, in her case, it being so specific, that's such a big detriment when you go to put on the market, especially so high, and you know it's high when you first listed, you know, and as agents, you know, we're just like, okay, but let me just put in writing that you understand that this is not you know, the list price. I think you should be so that you don't get mad at me, because then they get mad, and then I get fired.

Then you get to the next agent that they're going to list it where I.

Speaker 1

Talked exactly, That's exactly what happened.

Speaker 2

She had like three different agents, and I was just because I could see kind of like the record and I was just like, I guess she finally got down to the price.

Speaker 4

Yes, just difficult and not living in reality and where the market is that your house is worth more than the market is calling for. So I think that it's it's it's very important to think about what your long term goals are when you're renovating, so that it's not so owner specific.

Speaker 3

And then it knocked you out. You know, she probably could have gotten more.

Speaker 4

But you know, when buyers walk in, they're thinking, okay, I love the unit.

Speaker 3

You know, you're a visionary.

Speaker 4

So when you're a visionary, it's much different for us, you know, but most buyers aren't. I would say ninety eight percent of buyers are in visionary. So when they walk in and they already have this high price tag, you got them in. So the price tag didn't scare them, so that's good. But what's scared the most was what am I going to have to do inside this apartment?

You know, this condos and say sorry, it's going to cost me even more than I have to pay with this high price tag, and you know, you have your good agents that are like, well, you know, but you can do this, you can do it, you know over time, and then buyer's like, no, I want moving ready.

Speaker 3

At this price point. It's too much. Plus the hoas yeah.

Speaker 1

Girl, yeah yeah. And it's weird because, like I said, she brought it.

Speaker 2

I think I want to say, she brought it like twenty nineteen, renovated a twenty twenty, and they put it on the mark of twenty twenty one. But it wasn't renovated in a way. I don't know what why she put it on the market because it wasn't renovated in a way that you would think someone It wasn't a flip.

Speaker 1

It didn't feel like that.

Speaker 2

It felt very personal, you know, like tile from Argentina and you know, like drapery from me.

Speaker 1

I mean, it was very specific.

Speaker 2

So I'm just really I don't, like I said, I never got the backstory while she was selling it, but I just remember thinking this person whoever renovated this had not intended to sell it because it's just so specific. So now let's dip into like okay, now, I'm a buyer, and like, what can I do as a buyer too?

Because I feel like, well, she was really difficult, but I feel like as I was a cash buyer, and I just feel like, you know, maybe we could have negotiated differently, maybe I could have got it.

Speaker 1

A little less. But what can buyers do to get the best deal?

Speaker 2

Because one of the things I made the mistake of it, I didn't listen to my agent, so you know.

Speaker 3

I listen to her as I need.

Speaker 2

To know, because I told her. I think I told her, you know, I think that the first offer I put in was five four point fifty. She was asking for five fifty, and she was like, girl, this lady's gonna be mad at you.

Speaker 3

I was like, ah, she's not gonna be mad. I'm like this cash.

Speaker 2

She was like okay, but and she was, and I will say for the for a couple of months she did not respond she's that girl go ahead because she was yeah, even with a cash offer, she not even their agent was like, we're not even going to entertain this. And so my buyer to my agent told me that that it was a little on the low side where it might be offensive, and I just was like, it's been on the market for two years. I mean, it's a cash offer. I would at least think they would push back.

Speaker 1

They didn't.

Speaker 2

It wasn't until no one, nothing else would go through that they kind of came back to the table to negotiate. So I know as a buyer that you know, just a sellers want to go too high. Buyers, I know that one of the mistakes is we want to go too low. And so like what other mistakes do buyers make?

Speaker 3

You know?

Speaker 4

And I'm not so opposed with your offer. I'll tell you why it's sitting for two years. It's very owner specific. I probably would have done the same thing.

Speaker 3

Here's the deal. I don't know, you know.

Speaker 4

If he's desperate on the other side of you know, this transaction or not. So okay, I don't want to say the worst I can do, but you know the worst I can do is try, you know, one hundred thousand dollars.

Speaker 3

I mean I've gotten deals like that before.

Speaker 4

You know. Now the other side of that coin is, well, it has been on the market for two years and she hasn't dropped it, so she's not that desperate. So now let's manage expectations. Okay, Now if I was, if I was a seller's agent, I'm like, you can't be mad because we've had the property on the market for two years. Of course they're going to low ball you because they don't know if you're desperate or not. You know, just counter back. This is when people say that, you know,

you know, it's business, you know, not personal. All business is personal because money's very personal, you know. And I also say, we know to buyers, all transactions are cash.

Speaker 3

At the end of the day. You know, when a seller closes.

Speaker 4

They're going to get cash in their bank account. Now, now cash deals also have or should have a little bit more, you know, controlling interest because it is cash because guess what, some loans might not go through.

Speaker 3

You might get to the closing table.

Speaker 4

And the buyer went out and bought a new car, and now they're dead to a ray shows upside down, So you know, cash, I definitely like to massage, you know, and I tell selfs that, like, listen, let's be nice, you know, let's just counter back. Even if your counter back is back to your full list price, just counter that, you know, let's take emotional sid out of it.

Speaker 3

So on the buyer's side.

Speaker 4

You know, that's really going to be how specific you know, that depends on a lot. But I'm not mad that you did that. I would have done the same thing, okay, with caution, Like your agent told you what was going to happen, it happens, so it's always going to be fitty. But I think that buyers mistakes they make is that are that you know, they're not prepared. They need to be prepared for reality as well, you know, depending on

what market they're in. You know, because the property's been sitting on the market, doesn't mean you can't ask for the stars, but you just have to be if the massage the negotiation. So if I'm going to offer less on a property, then I'm going to have less contingencies,

you know. Or but nowadays buyers are back to where they can ask for closing costs, they can ask for assistance, you know, so we can we can I can really go in ten different ways with this, Tiffany, But I will say this with with buyers, they need to be prepared for the counters, for their closing costs, you know, talking about you know, mistakes they make. They're not the HOA fees they have to consider that as well, you know, because it's not just in condos, it's in some subdivisions as well.

Speaker 3

I like hoas. Some people don't like Hoa's.

Speaker 4

But I'm here for it because it just helps maintain your value and you know, the condision of your neighborhood and buildings. So other buyer mistakes would be you know, again, they have to live in reality as well, you know, with their finances, with how a house is positioned, not offering. I just helped my sister with the house in Philly. I'm not licensed in Philly, but she was so enraged because somebody offered thirty thousand off her list price and

asked for eightyven and clothing costs. And I said, well, but when you have anything else coming in, you're any other officers coming in.

Speaker 1

You can't be mad at them, you know.

Speaker 4

And so but that that buyer's agent was a good buyer's agent.

Speaker 3

She said, let's do it. I guess what my sister had to sell, So that by.

Speaker 1

Okay, because you never know, I guess unless you ask. She wanted me to come.

Speaker 2

At like a like for seventy just to be like, you know, and I was just like less see.

Speaker 1

I mean I didn't end up getting it, but I ended up getting like, you know, I know.

Speaker 2

That what I I asked one of my friends was a real estate investor, and I was like, well, what do you think? And he gave me some good advice. He said one Tiffany like, is this where you're going to be living? And I said, yes, I really love this place. I'm my sister's going to be taking my house and she's gonna be paying the carrying costs because that house is paid off. And so I was like, but I just want to you know, I don't want

to take care of a property like that anymore. Like and I love, I love this is all one floor without being I don't like ranches, you know, but so this is one floor but in a way that's attractive to me. And it's around the corner. So I'm still right here in the neighborhood with all my friends and my family. So I said, I'm not planning on you know, selling, I mean could potentially, if something comes up, I might

purchase something additional. He said okay, And then too he was like, is this something where if it were to go you'd be like, whatever, these are a dimer dozen because you know some homes, there's certain neighborhoods, these houses come up and I said, no, this is one hundred year old. He was like, Tiffany, he said, I was going to tell you that, but that's your business to say.

He was like, one hundred year of property, five bends, three and a half back, fireplace, twenty eight hundred square feet. He was like, you're right, it's not going to come up again. I mean unless it's in that building, which you know. But he was like, the likelihood of this unit something like this coming up again, it's probably not as likely. So you have to ask yourself that too. So these were some questions that he had me asked. Because I was feeling salty as well.

Speaker 4

I was like, oh, so she didn't want to now you want to come back to the table. But I was like, girl, go ahead and get your house. Stop being sassy.

Speaker 2

Because someone was I didn't know this, but it had been under contract and then it fell through because of the HOWA fees that they could afford. How much the house was worth, but they couldn't afford the hoafees made it that you have to be basically qualified for like a house that was like seven hundred thousand versus the five hundred five fifty because of the hoafeest adding an additional thirteen hundred dollars to your monthly.

Speaker 3

Yeah, you just have to remember.

Speaker 4

A one more buyer mistake that I see a lot is that buyers they're just as sassy as you were, right with countors and everything, and I have to stop them by and say, listen, if you love this home as your next five to ten, you know, your forever home right now, then why in the world would you let however much it is come between you know, this might be five thousand, whatever it is. If I've proven to you that the comp is there, it's a great investment.

You love the house, all right, Let's take the sass off. And I don't know what happened between you and the cellar, but you can't lose this house over you know, a couple of thousand dollars, which is only.

Speaker 3

Affecting your note a couple of hundred. You know what I'm saying.

Speaker 1

And that's what my agent was like.

Speaker 2

I could how she was just breathing, you know, she this is so beautiful, it's so perfect.

Speaker 1

It's in your neighborhood, it's around the corner. Literally, she want because I.

Speaker 2

Even had like some random moment and I would love to use of New York City, but like, what does it? And literally walk in and you're like, it looks like a picture window, like the whole wall and all you see is the New York City skyline and everyone in that in that building is like, you should see the fourth of July. You should see New Year's Eve that the fireworks display. And I just was like, so she was like because in the moment, I was just angry like that it seemed like the But I'm like, but

she doesn't know you. This the mind does not know you, Like, this is not a personal So I was so glad I was able to work through that and get the you know, the home that I really wanted and I really do love it. And yeah, and I'm renovating now and it's you know, literally it's like some pain. She had a lot of wallpaper which came off in a day, and so yeah, the renovations, you know, should be done,

and next I did. And I said that I was like, thank god, you know, like thank god for Rihanna, because she was like, girl, I.

Speaker 1

Was like, do I have to spank Tiffany, like what is happening?

Speaker 4

So?

Speaker 2

Is there anything else? Like as we so what do you how about this? Well end with this, like what are some of your predictions based upon you know, you've been in this industry for twenty years?

Speaker 1

What do you like?

Speaker 2

What are your spidy senses telling you about? Like what might home ownership and buying and things and selling? What might What do you see in the next five to ten years? That is there any new trends you know, something that we should look out for, like what are you thinking?

Speaker 4

And Tiffany, I had to stop making predictions because I was like, some days I'm right, some days I'm wrong. You know, I said, let me just live in today and we can talk about thirty days ago and maybe thirty days ahead.

Speaker 3

Right, So I tell people, you.

Speaker 4

Know, I have got I got my resate license in two thousand and three over my first brokeers in two thousand and.

Speaker 3

Six, had it for fifteen years. I moved back home here.

Speaker 4

So I've been in a I don't want a discount recession, but a much bigger recession and a housing crash. I was in it for the two thousand and you know, seven to one and what I have learned from the and then came to the seller's market in twenty sixteen, and then who knows what just happened in twenty twenty, you know, with that birth well, with interest rates dropping.

This is what I've learned that you have to pay attention to daily interest rates, on what's going on in our government, you know, and then follow the successful people in real estate that you admire. So I am an inman junkie, you know what I'm saying. Like you know, Tony Robbins says that success leads clues. You have to follow, you know, whoever you're even if it's a mentor in your head. I didn't have a mentor in real estate,

you know when as I was growing up in real estate. Unfortunately, I had to learn the hard way, you know, because I was working in my business.

Speaker 3

And not on it. You have to look around what's ahead of the curve.

Speaker 4

You have to keep reading what's going on in finance, and you know with our government in commercial commercials about is plumbting.

Speaker 3

Commercial real estate is plumbting.

Speaker 4

You know what does that mean for you know, residential So you have to take the responsibility of looking in your immedia market as well as around the country of what's going on, so that we can predict what's going to happen in the next five to ten years.

Speaker 3

Right now, I'm telling people buy and hold.

Speaker 1

I mean in.

Speaker 4

California, New York, New Jersey. You know, we're high no matter what happens in the world. Right so there's still room to flip and do all that fun stuff which I've built my business on.

Speaker 3

But if you can.

Speaker 4

Buy and hold properties right now and still be able to rent them, house hack. I wish I was told to house hack when I first got in real estate instead of just buying my first home. Like that debt to income ratio we're talking about. I didn't anybody to tell me that. I would have been a house hack and food you know what I'm saying. I would have

never had to pay my mortgage, not one day. So if you can house hack, you know, interest rates are not killing us in the six percent range, They're still okay, especially if you can get that good deal you know, and get them to tick down and look at the long term within five to ten years, no matter where we are, you own an asset, you have a property, you know, and you will be able to do something with it. Even if that means that asset is paying

your minimum minimum living requirements, that's still an asset. So look for so you can buy a whole duplex, triplex, quad, small apartment building house hacked.

Speaker 2

You know that's where I So just for clarity for people might say, what's house hacking? Can you just describe real quick?

Speaker 4

So, house hacking is basically when you buy a more than one property, so multi family units, and those units are paying your entire mortgage and hopefully then some so that you can pay for repair, not only payers and your taxes and insurance, but also pay for some of your lifestyle.

Speaker 1

So when there goes my necklace, So that's.

Speaker 3

What house hacking is.

Speaker 4

You buy one unit and then you rent or maybe even airbnb the other two to three four units out, and then those units are paying.

Speaker 3

For your entire mortgage. Yes, while you're living.

Speaker 2

I love that super smart page. It's been so awesome hacking you on today. I feel like I learned so much. I don't feel so bad about, you know, trying to get one hundred thousand dollars off that kindom So that's what I also know that I totally take your advice. Although I plan on keeping my condo, I too like to like to renovate in a way that's traditional and then add the funk with like you know, like my

couch and my decorations and things like that. So that's my plan first, you know, I'm going to take that advice and do that as well. Is there anything else that we didn't talk about and that you'd like to share, like maybe one lasting piece of advice and awesome?

Speaker 1

Where can the people find you and connect with you?

Speaker 3

Well, Tifnie, thank you for having me.

Speaker 4

You know, I'm brown ambicient again. I'm so happy to be here, and I'm so proud of you. I mean, you know you said so much. That is so encouraging to myself, to your listeners. You know, here you are, in your beautiful brown skin, doing it and doing it well and taking those chances, even you know, offering one hundred thousands less, but guess what it was cash?

Speaker 3

You know we should all aspire to do that.

Speaker 4

You know, that's always number one right, one thing I wanted to say though, that's good for when you do close on your home, you can make it your own with the you know, mixing textiles with your stage. But Also you mentioned wallpaper, like removable wallpaper is a thing you don't have to put up old school wallpaper that will stick forever. And then that way, if you get tired of your own wallpaper every quarter, you can change

it up, you know. So there are a lot of cute things you can do in your home that won't cost a lot. Adding you know, woods, wooden slats to a wall that you can get from Amazon, you know, to add a feature wall.

Speaker 3

There's a lot you can do as a buyer.

Speaker 4

Okay, and that's good to remove when you become a seller, nice and easy.

Speaker 3

So well, I forgot the.

Speaker 1

Last question because the last question just like where can people find you?

Speaker 2

I feel like you're got to listen and be like, I want to learn more, I want to watch my show.

Speaker 3

You are someone to talk to. Can't be over already?

Speaker 4

Tim questions, Wait a minute, we can do this a couple more hours. You can find my show fixed my flip. We are in the middle of season two on HGTV. It's also streaming on the all new MACS, which I'm so excited about. And if you don't know, Max is the newly revised version of HBO Max.

Speaker 3

It's now called Max. You can catch up on season one.

Speaker 4

And also check out the episodes that have already aired for season to have fixed my flip. It's such a blessing to have the platform on HGTV and I'm able to share with great platforms like yours. I'm on Instagram at page Turner unlimited and also on Twitter and Facebook and everywhere else.

Speaker 3

And yeah, that's that's me. I'm just so happy to have been here with you. No, thank you.

Speaker 1

Are you going to write a book?

Speaker 3

Page?

Speaker 1

You have a book?

Speaker 3

I do the book.

Speaker 4

I wrote it in twenty nine, twenty nine Lord in twenty nine.

Speaker 3

And then the pandemic hit and then I got a lot of stories. But it is on Amazon.

Speaker 1

I'm going to want to relaunch it.

Speaker 4

It's a good book. It's it's called the Go Life. Go as an acronym for seizing your greatest opportunity now and not to mismanage your season. So you can definitely tell that I'm a real estate flipper because I have just so many analogies to you know, the housing market, but you know and how you know I've been able to seize my greatest opportunity.

Speaker 3

So it's called the Go Life. It's on Amazon and it's a fun book.

Speaker 1

Well, thank you, thank you for coming on. We certainly would love to have you back again. So go ahead to callow.

Speaker 2

Page turner elimited on all the socials and yeah, just and watch her show.

Speaker 4

So thank yeah, Tiffany, fix my flips on every Thursday, nineteenth Central. We're on Primetime. Baby, listen, you're doing prodcasts.

Speaker 1

You know, I love it. I love it all right, y'all.

Speaker 2

We will see you next week. Actually, we'll see you on Friday for our BAQA. You know, if you have questions that need answers when it comes to business, career or money, you can ask them and we are answering them on BAQA.

Speaker 1

So see you guys on Friday. And Paige, I will see you hopefully one day soon, very soon.

Speaker 3

Thank you, Tiffany. Hey, ba fam, we could not do this show without your support or the support of our team behind the scenes. The Brown Ambision podcast is produced by Imani Crosby and Dennis Sanplinsky is our in house tech guru.

Speaker 1

I am your co host Mandy Wilders Santos, and we will see y'all next week.

Speaker 4

Ba Fama

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