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Crazy Sh*t In Real Estate with Leigh Brown

Crazy Sh*t in Real Estate!—a podcast that will shatter the HGTV-induced veneer of real estate, and celebrate the challenges of working in this wild, wacky business.
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Crazy Sh*t In Real Estate with Leigh Brown
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Now displaying: May, 2019
May 30, 2019

Are you having trouble making those W-2s look real? Shirley Matlock, REALTOR® of 28 years and Certified Residential Specialist, recently had a deal fall through because the client admitted he couldn’t make his W-2s look real! Luckily, the lender Shirley used was an honest one, and they weren’t going to let the client negatively affect himself and others. Listen in to find out the lessons Shirley learned through this experience, and find out how to build yourself and your network so you know how to avoid – or get out of – these sticky situations.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting leighbrown.com.

Time Stamped Show Notes:

  • 00:35 – Introducing Shirley, a Maryland Howard County REALTOR® of 28 years and Certified Residential Specialist
  • 01:45 – A “CRS” is like a real estate PhD; you must have taken certain courses and sold a certain amount to qualify
  • 03:30 – Shirley’s CSIRE story
  • 03:45 – The most current one is a referral story; a client’s neighbor wanted to buy the house he was renting
  • 04:10 – She went to the property and came up with a value; she called the landlord and the landlord said the owner was out of town for a month
  • 04:45 – She called back and the same man said the property management company owns the property; he was the property management company
  • 05:05 – They came up with a price but couldn’t get the clients W-2s; the client committed fraud and made fake pay stubs
  • 06:20 – The deal fell through; the man had never paid income taxes and couldn’t figure out how to “make a W-2 look real”
  • 06:30 – What happens next
  • 06:40 – The client had filled out an application with a lender; it’s up to the lender to report it if they want to
  • 07:20 – The lessons
  • 07:30 – People are harmed when people cheat the system; this is an example of why you need a good, honest lender
  • 08:40 – When you apply for a mortgage, you need valid documents proving your income; the banks aren’t always at fault for foreclosures
  • 09:30 – Advising buyers to use the trusted resources you have
  • 10:00 – Shirley gives her clients a few lender options to choose from and makes sure first-time buyers get their benefits
  • 11:30 – Shirley’s advice
  • 11:40 - REALTORS®, get as much education as you can in a variety of settings; you can never learn enough
  • 12:40 – Buyers and sellers, ask your REALTOR® what they’re currently learning and when they’re taking their state continuing education
  • 14:30 – How to reach Shirley: by email at shirleymatlock@remaxx.net and by phone (410)465-7777

3 Key Points

  • Find an honest, reliable lender who will play by the rules.
  • It’s best for realtors to work with people they know and have a relationship with.
  • Get as much education as you can! 

Credits

May 23, 2019

We’re going to play a game on today’s episode! Amy Hedgecock, a third generation property manager in High Point, North Carolina, has a crazy story of when she managed a property for some California investors who never even saw it. When the owner of the property finally flew over to see the property, he was shocked, scared, and given a knife by a tenant for protection before entering a “vacant” unit. Listen in and try to find out where, exactly, things went wrong – and learn how to make sure this never happens to you or your clients!

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting leighbrown.com.

Time Stamped Show Notes:

  • 00:35 – Introducing Amy, a 3rd generation property manager in High Point North Carolina, who has been president of the North Carolina realtors
  • 02:30 – Amy’s CSIRE story
  • 03:00 – She has 500 single-family units and some apartment buildings; she enjoys bettering the properties so her investors have a better return on investment
  • 03:30 – Many California investors were buying investment properties; one bought an apartment building sight unseen and neither the buyer nor seller had a REALTOR®
  • 04:00 – Amy went out to the property and there was a lot of deferred maintenance; she got in touch with the new owners and they knew some money would have to go into it
  • 04:50 – There were apartments missing on the rent roll; it looked 100% rented but only because 7 units were unaccounted for
  • 05:20 – The heat was missing in the vacant units and tenants of other of the missing units had serious issues; the owners sent some money to fix the issues
  • 06:00 – She had hired off-duty police officers to guard vacant units because there were squatters; the rent money didn’t cover all the issues the place had
  • 06:30 – She had to evict half the building because they weren’t paying rent; an owner finally said they’d fly into town to see the place
  • 07:20 – She only went to the property with an officer because it was an unsafe place; when the owner arrived he said, “This place isn’t so bad!”
  • 07:50 – The police officer showed the guy a YouTube channel called “High Point Ghetto Fights” and a fight video was shot in front of his apartment
  • 08:40 – A prostitute from the building followed them while they showed the property to the owner; she yelled “I’m not working today!” to a group of men yelling at her
  • 09:45 – They enter a vacant unit that had been taken over by feral cats; one was dead and melted into the floor
  • 10:30 – The owner opened an old, disconnected refrigerator and it was disgusting; Amy laughed
  • 11:30 – When they reach the last row of apartments, the woman handed the property owner a knife to protect himself from someone in a vacant unit there
  • 11:55 – He skipped that unit and asked an officer to check it out; the property was resold shortly after that visit
  • 12:20 – Amy didn’t take on managing the property with the new owners
  • 12:45 – The lessons
  • 12:50 – The owners bought the property sight unseen, which was a mistake; they didn’t have rent rolls, reports, or P&Ls
  • 13:20 – If you aren’t going to have realtor representation, be smart about the questions you ask and the information you require before purchasing
  • 14:50 – It’s important to use professional property managers for your investment properties
  • 15:30 – REALTORS®, get connected with property managers to help your clients better
  • 17:30 – How to contact Amy: by email at amyhedgecock@gmail.com, by phone (336)883-1333, or at fowler-fowler.com

3 Key Points

  • Ask the right questions before purchasing!
  • Don’t short-cut your property management needs.
  • REALTORS® and property managers should be connected and help each other!

Credits

May 16, 2019

Buy a house from Al and he’ll paint it for you! Al Block, a REALTOR® for over 30 years in the greater Detroit area, sold the wrong house but committed to making it right. Luckily, he did – by painting an ugly room and communicating with his clients in a way that was honest and reassuring. Listen in to find out why accountability is so important and how Al’s community involvement really saved the game. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting leighbrown.com

Time Stamped Show Notes:

  • 00:35 – Introducing Al, a REALTOR® for over 30 years
  • 01:00 - He’s an associate broker in the greater Detroit area and president of the Greater Metropolitan Association of Realtors
  • 01:37 – He’s co-owner of ReMaxx First
  • 02:20 – He made it in real estate at 19-years-old because he had some inheritance money and stuck with it; it was tough but he learned discipline and humility
  • 05:20 – Al’s CSIRE story
  • 06:00 – He was sponsoring and playing in a softball league; the comradery was extremely valuable
  • 07:10 – A man on another team asked Al for help to buy a house; they saw a home a little outside his price range and they couldn’t pull it off
  • 07:58 – Later, the listing’s price got reduced; Al called him to let him know and they drew up an offer
  • 08:13 – They faxed the paperwork and the seller accepted the offer; everyone was happy
  • 08:37 – He waited for them at the house and quickly realized that he had sold them the wrong house; they were standing in front of another one
  • 09:20 – The house looked the same in the picture and was in the same neighborhood; he asked them to come over to the house he was at
  • 09:48 – The house had more brick, needed painting, and didn’t have new appliances; they actually liked it better than the other one but it needed some work
  • 10:35 – He offered to paint a room that was an ugly purple
  • 11:10 – Rumors started to spread in the soccer league that if you bought a house from Al, he’d paint it for you
  • 11:30 – He has sold so many homes through the softball league since then
  • 15:00 – Lessons from the story
  • 15:30 – Respect people’s budget and work with people
  • 16:00 – Be accountable for your mistakes and build long-term relationships
  • 16:45 – People need to know your story and know you’re ethical, hardworking, and trustworthy
  • 18:00 – Stay visible and engaged in your community; lead with heart, mind, and community
  • 19:30 – How to contact Al: By phone at 1-800-SOLD-678, his website, or by email

3 Key Points

  • Take accountability for your mistakes.
  • Communicate and commit to making things right.
  • Lead with heart, mind, and community. 

Credits

May 2, 2019

Could the solution to all our family-life problems be to live as people did in the 20s? Today, Tracy Freeman, a REALTOR® in Maplewood, New Jersey, explains why old homes have such small bedrooms – and why that’s actually a good thing. She also sees the big picture that a lot of REALTORS® miss when it comes to law and regulation that affects the industry. Listen in to hear Tracy’s views on old bedrooms, chestnut trim, and family living spaces – and see why sharing a bathroom with a sibling isn’t the worst thing in the world.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting leighbrown.com

Time Stamped Show Notes:

  • 00:45 – Introducing Tracy, a REALTOR® in New Jersey
  • 01:50 – What she must educate her clients on
  • 02:05 – In her market, many of the homes are old; most were built in the 1920s to 1940s
  • 02:18 – The homes have bumps and bruises but they’re bought as-is; if something is major issue, you can ask the seller to cure or credit
  • 03:30 – Tracy and her husband bought their home based upon the care the previous owner had taken of it
  • 04:00 – Nowadays, people want move-in ready; Tracy understands what her clients want and knows when she sees a good fit
  • 05:30 – Take care of your house and keep record of the maintenance you do on it
  • 05:45 – If you walk in a house and see that the owner has record of every fix, it’s priceless
  • 06:45 – More about Tracy and Maplewood
  • 07:00 – She gets excited by things like laundry chutes and the quaintness of old homes; she must educate clients on why homes were built differently back then
  • 08:45 – Rooms were built smaller because that’s not where people lived; they focused on family time in general living areas and kids didn’t escape to rooms
  • 10:45 – What surprises her buyers when they come to Maplewood and South Orange
  • 10:50 – They’re city people and want to be able to walk to town and the train
  • 11:25 – It costs to live closer to town; people want all the bedrooms and a yard but may have to be a half mile or mile away from the train to have it
  • 13:00 – The GenX way of living can exist; the homes in her area are close to everything a family could need
  • 14:15 – Tracy’s advice for other REALTORS®, buyers, and sellers
  • 14:45 – She appreciates agents that just put their head down and do the work
  • 15:05 – She went to her first NAR conference and was shocked by how many REALTORS® there are and by what advocacy work was being done
  • 15:30 – She was so focused on her local business that she didn’t see the big picture of what was happening for REALTORS® nationally
  • 16:00 – Understand what bills and regulations are going through that affect your work and pay as a REALTOR®; protect your earnings
  • 17:00 – How to contact Tracy
  • 17:05 – Her website, Facebook, and Instagram

3 Key Points

  • Recordkeeping could be the X factor to help someone move forward with a purchase.
  • Understand why your home was built the way it was, especially if it’s old.
  • Protect your earnings and stay educated through participation with the NAR. 

Credits

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