Brandon Kaufman

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Aaron Pfeffer
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Aaron Pfeffer: Good morning, everyone. Welcome to 30 minutes with Spyglass lending. Uh, good to be back. We took a couple of weeks off, so it's nice to be here and I have. An awesome guest with me today. I know they're all awesome. But this guy in particular, uh, one of my favorite people, I'm lucky because I actually get to see him every day.

We are in the same office. Now he's across the hall, but we run into each other. Often we have closed deals together. Uh, he is one of the more enigmatic, benevolent, humorous, uh, enjoyable people that I get to run into every day. So I love seeing him and I really appreciate him being with us here today.

Brandon coffin of the DNC team. Brandon, how are you? I'm doing

Brandon Kaufman: well, Erin. Thank you. Thank you for having me. I'm really excited about this. So yeah, absolutely.

Aaron Pfeffer: Uh, let's start with you. I mean, we're w we're going to start middle and end with you, but let's get right to it. You are from.

Brandon Kaufman: Um, so born and raised in the valley specifically in Encino, uh, off San Fernando valley area.

Uh, and yeah, so I've been here. My whole life went to undergrad at Cal state Northridge local here, uh, and then basically jumped into real estate right away from there. So, um, haven't venture too far, but, uh, hopefully soon enough. So where was your first

Aaron Pfeffer: job in real estate?

Brandon Kaufman: Um, so I've been with Keller Williams.

Uh, longer, but this was kind of what it was for, uh, for six years of basically I started, started there and see, you know, office. Um, so I started in their training program, um, completed that, and I've been on a couple of different teams, but I joined up with Andrew in June of 2020. So it's almost a two.

Aaron Pfeffer: And when we say Andrew, we're talking about Andrew, a good friend.

He's in the office next door. We're all here together, obviously. Um, and what, what attracted you to Andrew? I mean, when you met him and, and thought about why you wanted to be part of the team, what was the impetus?

Brandon Kaufman: It's a great question. And, you know, obviously, you know, real estate is a tough business, especially starting out and being young.

I think part of what we're going to talk about as well. Um, so, you know, tried it on my own, uh, again, you know, been on different teams. To me, it was about finding the right environment. Right. And also finding somebody who's leading a team who operates their business the way that I would want to operate my business.

Right. Uh, and so ultimately, you know what, I came to, you know, obviously I met with Andrew, um, you know, I've known of him for years, including through, uh, through a good friend of mine. Um, but just, it was a matter of just kind of the timing working out. And, um, you know, ultimately, you know, when we met, it was like this, you know, if you would give me an opportunity.

This is exactly where, where I want to be in and thank God it worked out. So

Aaron Pfeffer: here we are. Uh, no, I want to break this down for anybody watching who may or may not understand. The hierarchy, I guess, infrastructure of a brokerage. So there is the larger overarching brokerage, which was a Keller Williams no longer, but at the moment, or at the time was Keller Williams, correct.

Andrew is a broker himself, but he hangs is licensed as a broker associate with Keller Williams. And then underneath him, he, you know, he can then recruit agents or recruit people to the team because he has, what's known as the density team and he recruited you to.

Brandon Kaufman: That's exactly right. Right. So, um, you know, ultimately, you know, Andrew has his broker's license.

I have my salesperson's license. I've been doing it long enough that I could get my broker's license, but for us it makes sense to be under a broker. Right. They have the infrastructure, they keep the lights on, um, you know, and we can focus on what we're good at, which is, you know, taking care of our clients, you know, selling, finding deals.

That's, you know, that's what we get paid. Right now.

Aaron Pfeffer: And obviously, as you mentioned, you are a sales agent. You work with buyers. We're going to talk a lot about that. Of course you have listings as well, but you know, specific to the DNC team, why don't you give us your, the title of the team and those responses?

Brandon Kaufman: Great. So, uh, when I started out with Andrew is very much so we had just joined up with what's called a Redfin partner agent program, right. So that's a sort of invite only program. Uh, and so we're getting a ton of lead flow, all buyers, right? From multiple different price points, mostly lower price points.

Uh, but that's kinda how I got to. Prove myself, uh, with that we closed probably five or six of them, which is more than average. Um, so it was mostly in a buyer capacity, but obviously as time has gone on, you know, been able to, to leverage that into listings and bringing in business on my own. So I wouldn't say I'm just a buyer's agent.

I do, you know, on, on both, both ends of the coin. Um, but also they brought me. Probably about six months ago also to do is call the client care director role. So, um, you know, we ha we carry several listings at a time. I think right now we probably have about 10 listings going, uh, whether on the market or coming soon, the average

Aaron Pfeffer: is 10 is 10, the average, you know, say per

Brandon Kaufman: month.

Um, I wouldn't think to say on a monthly basis, but yes, generally we're carrying, you know, 10, 10 listings at a time about, about that. Yeah, we'll definitely, uh, but there's a lot that goes on behind the scenes. Right? So for example, we have a listing coming up in Sherman Oaks, we're coordinating, you know, a flooring guy, electrician, painter, a stager cleaner, like all this stuff, that's just for one property.

Right. Uh, and Andrew and Alex who runs our, our backend as well, you know, doesn't have time to do all that. So that's why, you know, I'm able to do that. I'm on the ground. Uh, and so I can kind of bring my experience, uh, but also, you know, help in more of an operations role too. So that's part of, part of what I do as well.

Aaron Pfeffer: It's to two-parter here. Are you enjoying it?

Brandon Kaufman: Yeah, no, I, I, I love it because, you know, ultimately it's, you know, You know, w whether you're working with buyers or sellers is kind of like two different, um, you have to put on two different hats, right? And so, even though I'm not the listing agent per se, right.

On some of these deals, some of them I am, um, you know, but obviously it helps to be able to, uh, you know, to interact with them. They trust you, you know, because you're not just in this. Right. You do have experience having, you know, having bought and sold. So you know what you have to reassure them about certain things or, uh, you know, whatever the case may be having that experience is valuable.

You know? So, um, I, I, I, I

Aaron Pfeffer: experienced, I think the big question there, you know, the second part of the question is where do you go from here? Like, what's the next role sales manager or some of the team leaders, something like that.

Brandon Kaufman: Potentially. Right. So we're, we are thinking about, you know, growing it, uh, you know, obviously, you know, you know, people are the right fit, obviously, you know, trying to find, uh, some agents who have.

Production already. So we can kind of catapult them to that next level. I think that wasn't part of, you know, Andrew bringing me on, he saw about potential may be in me. Um, but yeah, I mean, you know, having, you know, that's going to require, you know, somebody to manage leads to over oversee them answer questions.

So not everything is filtering back to Andrew. So eventually that's what it's going to be. I'm going to come out of this. Uh, and then, you know, potentially into more of a, of a sales manager role working my own deals. Uh, and then we have a full time, you know, admin who's, who's handling some of these other, other tasks, whether they're licensed or not could be.

Uh, but that's kind of, you know, where, where are we.

Aaron Pfeffer: I've got a gun to my son. I love it. And I want to circle back for a moment and talk about those leads because you had mentioned Redfin and I think anybody watching might underlie say, Ooh, that name jumps out and let's talk a little bit about, you know, what Redfin is, or specifically kind of their, their counterpart in the real estate world Zillow, right?

I mean, these are the two major places for leads. Is that fair to say? And ultimately what's happening is. Individuals would otherwise go, uh, search for property on either of those giants, these tech giants, these search engine giants for real estate, maybe truly as well. They're putting in the information and then these larger places, the Redfin and Zillow are filtering them back to agents like you.

Now, you had mentioned, I think what was the name of, of the.

Brandon Kaufman: Yeah. So there's a couple of different programs. So there's Redfin partner agent is what they call it, the partner program. And then Zillow has, what's called Zillow, premier agent, right? They're a little bit different, right? So the, the partner agent program, you know, part of again, why it's, why it's invite only is you're not paying for the leads upfront, but they are taking a referral fee on the backend.

Right. So. From an H and N right. That's good for us because it's less overhead on the front end. Okay. And if somebody is not motivated or they're not ready yet, you can say I'm still willing to help you. Right. But you don't take up a slot, you know, because there's only so many leads you can have at a time.

Uh, you know, you're able to really focus on the people who are, who are ready then. Okay. The difference with Zillow, right? You're paying for those leads up front, you pay for a certain zip code, right. And may give you a certain number of leads per month. But each one of those is incredibly valuable, right?

Each of those leads could be $400 a week, right on average. Okay. So in a good price point, so you have to re you know, those you're going to every single year going to, um, you know, work that as, as, as best as you can, to make sure that, you know, your conversion rate is as high as possible. So it's just knowing the different.

Those are, those are the two biggest out there Homelite is another one that we work with too. So we want to shout them out. They do a great job. So, you know, it's just, it's just finding those right. Those right partners who, you know, who value you, you value your time. And then you're obviously returning the favor.

So no doubt.

Aaron Pfeffer: Now these, these buyer leads. Okay. So they come in and obviously, you know, they filter into your system. Sure. Someone like myself, pre-qualifying them. And thank you very much. Cause you're often sending them my direction to do that and make them feel they're worthy of your time to work with, obviously in there, you're actually going to close a what if and when you find them something, but the if and when the finding something correct, how hard or how much harder has it gotten just as of late.

And let's talk a little bit about.

Brandon Kaufman: Sure. Um, so yeah, it's definitely gotten harder, right? I mean, part of, you know, what's nice about something like Redfin, which I don't do as much. Now we have, we brought on somebody and he's handle that in so I could help Andrew with other things. But, um, you know, the nice part is somebody reaching out saying, I want to see this.

Whatever it may be. Right. Con it'll give you the information we'll give you there. So it kind of makes it pretty plug and play, uh, you know, but we may go see that that property may already have 10 offers on it. Right. Or, or, or, or they didn't catch it right away, you know, maybe past the deadline for offers even.

Right. So you have to know how to explain that to them. Right. Especially when they don't really know you other than, you know, you're the partner agent. Um, but just, you know, just trying to navigate that. But yeah, I mean, it's gotten incredibly competitive. Uh, not that it wasn't before, but there's just not a lot of inventory.

Uh, and so you have to be. You know, ultra good at what you do and, um, you know, leveraging your relationships that you have tried to get creative. That's what I'm doing. Like you're even reaching out to agents who have rentals, right? Who made the, that aren't moving, seeing if they'd be willing to sell it, you have.

Creative, because most of the things that are coming on the market that are, that, you know, look good, present well are going within a week, multiple offers, we just offered on one where you, you know, you were doing the, you know, the, the buyer doing the loan with them. They had over 20 off. Right. And that's a condo, right?

That's a condo. That's a four, you know, it was listed at 4 69. My guess is it's going to go somewhere around a hundred thousand dollars over, uh, asking on that one. And I gave you a couple other examples too recently of units that I've seen with that client that we wrote on. And they also went about a hundred thousand dollars over the asking.

Aaron Pfeffer: We we've been joking lately that it was ludicrous before called the last five years. Now we have officially left planet earth and we're, we're dealing with a perfect storm at the same time. Right? Those being three things, one a massive inventory shortage. We know correct all the time. There is just not enough housing and I don't care what type of housing it is.

Single family, condo, townhome, whatever it may be. Um, the multifamily space having its moment. And we'll talk maybe a little bit about that as well, or if you're interested in that. Uh, but second part of the storm, certainly, uh, the idea that the equity has shot up just ludicrous amounts. It was going up so much over the last decade as we know, and then the pandemic hit and wow.

Did it skyrocket in the last 18 months? Of course, 20% or more. And now. Uh, prices over asking, which are still appraising. That's the crazy thing on the back end. If somebody's listing something that they think might be a fair price, or maybe a little bit under that price, because what they're, they're beefing it up.

So they're going to get that, you know, the frenzy and then somebody up with the price, but still going 15, 20% higher than these listing prices. And now the third thing, and from my end of the desk is watching the interest rates rise. You know, these, these last couple of years, Uh, just amazing, you know, basically giving away the money for free, right?

I mean, you know, in the two and a half percent, maybe sub 3% range, and now you're seeing that jump into the fours and fives very quickly. That's payment Shackman and a payment shock is never fun for anybody, especially those who may otherwise be trying to qualify for the price points. You're talking about 3, 4, 5, $600,000 condos.

Right. Things start to shift pretty significantly when you're adding many hundreds of hundreds of dollars per month and what they're trying to

Brandon Kaufman: qualify for. Yeah. That's a very good point. And what I'll say to, you know, you mentioned appraisals as well is a lot of times the listing agents are asking you to remove appraisal, to remove loan somebody in that price point, they'll get I'm being generalized.

Cause it doesn't mean that that's always the case, but you know, a lot of they're on the margin right already. So they don't, you know, they're putting let's eight 50, you know, 10% down or they don't have another. 25 50 grand and come out of pocket if it does appraise low. So, you know, it, again, it doesn't mean that there's not a way to get it done, but you have to have somebody who's sort of willing to, you know, willing to play the game and kind of roll the dice, you know, with that.

And also is a little bit more difficult again from, you know, from your end on a condo, because there's an unknown, which is the HOA documents, you know, the, the HOA, it, it, it, you know, um, you know, whether it's in good shape, a little bit different with a house where it's kind of more of a. A known quantity.

Right. We can kind of figure out what the value is. No HOA, you know, they're, they're W2 very well-qualified, uh, you know, we can feel a little bit better about doing a shorter loan contingency or maybe removing it altogether. So those are the kinds of conversations that I'm, that I'm having with people.

And, you know, but, but not letting them get discouraged, letting them know that there is a way to, you know, to get it done. We just have to be more. That's what, that's

Aaron Pfeffer: what this is when it comes down to, and that look the, you know, the, the interesting thing is the norm in California, or at least Los Angeles forever has always been a 30 day timeframe to get something done.

And I know that most people here in Los Angeles or Southern California, that otherwise sounds normal. Typical, that's still a pretty short porch. Uh, in other parts of the country, wasn't always the case. A lot of the closings would be a longer than that 45, 60, 90 days. And that seemed a lot more reasonable for people.

Get their act together and get their loan documents together and a seller to get their, their life together and get out. But not here, not here, it's 30 days or less. And now as you're stating, and what's been going on for quite a long time, and we're really hitting the frenzy here is this notion of removing all of these contingencies inside broader data front.

No appraisal contingency, move the loan contingency down all the way to seven or 10 days, which I guess sure. I'll, I'll tell you that is, you know, it's going to be approved hopefully. Um, uh, but you know, due diligence periods, removing them as well. And then even lessening the 30 days down to 25, 23, 21 days, right.

Where it's like, that's what wins. That's just this little edge, or maybe some of the creativity you're talking about or the appeasement to the seller or the listing agent, whether it wants to hear that. And what you're up against is 25% cash buy or 25% of the market, 25% of what has closed, uh, you know, in the past couple of years, our cash buyers.

And, you know, just talking about that condo space, I mean, who's doing that. That means family members are often buying. Uh, you know, parents are often busing all cash for their. You're up against that. Somebody who's out there, they're a W2 earner, they've got a good job and they're just trying to buy it themselves.

And now they're up against, you know, mom and dad who were like, no, no, no, I'm coming in here and paying all cash for my kid, uh, who can, who can buy this? And, you know, that's the marketplace and it doesn't just stop at the condo. Right. That goes all the way up into the million to $3 million single family homes.

And let's talk a little bit about that. And some of those that you've been working on, what are you seeing in that space happening in and around? Our neck of the woods, especially, I mean, you mentioned the San Fernando valley. Why don't you talk a little bit about, um, what you're seeing in those price points and those types of housing and.

Brandon Kaufman: Yeah, that's a great question. So, um, you know, similar story there, but again, it depends on the area. Depends on the price point. Right. You know, a lot of the areas that we work in Sherman Oaks, studio, city valley village, maybe out to Burbank capacity unit as well. You know, those are the most desirable, my opinion areas, you know, in, in our, in our market.

So, um, you know, it's, it's ultra competitive, right? I think Andrew and I were looking at it, um, in Sherman Oaks, there's like. Two or three homes for sale under $2 million, right. That are not on a major street. You know, that that are, that are nice. You know, the people, you know, have, so each of those is getting a lot of offers.

I have a client right now. Who's looking up to like one, 300. Somewhere in that range, which eat again for anywhere else in the country would be, you know, you're like, wow, like I'm

Aaron Pfeffer: retiring

Brandon Kaufman: like Flint, you know, we're good. But, uh, you know, it's, it's still, you know, still challenging and most people what's, what's happening to, you have to have those conversations with your buyers because things are being priced at 1, 2 9, 9.

Okay. Right. So just under one, three, it's like, oh, I can afford. But no. Right. Because you know, ultimately those wants you are going to one, 5.16, you know, even one, four or five. Um, so you know, it starting at a level that would be doable and it's going to a level that is not. Um, and so, you know, setting those expectations and, you know, obviously part of the process, you have to go see things, you have to see what they, you know, what they trade for.

But I think anything sub 2 million, it's still very hard. Um, because again, you know, for somebody. It's still, you know, in the, in the evening, those two jumbo loan, it's still, you know, in that affordability range. And, uh, you know, even the rates on jump, you'll talk more about that. But even like the rates on jumbos tend to be better than conforming right now.

So you know that, uh, um, you know, that doesn't necessarily scare somebody away. Maybe otherwise would. So, uh, I, you know, I would say definitely no, definitely in that range, something that presents well, the biggest thing is if it presents well and it looks good, good photos, good marketing, it's going to sell, right.

The stuff that needs a little bit more work and needs a little bit more vision. Uh, you know, those ones tend to, you know, take a little bit longer to sell. But if, if it's, uh, if there's any development play or an investor play. It's going know, it's going to say, there's going to be, you know, it's going to be interest because it may not be for an end-user, but an investors like, look, I can't find deals either.

That's my business. Uh, you know, I'll pay a little bit more to, you know, for the opportunity. So we're seeing.

Aaron Pfeffer: Yeah. And these investors are still playing that long game, expecting that the market's going to continue going, going, going. Right. So maybe they were buying lots, you know, eight, a hundred thousand million or a little over a million.

Now they're stretching over a million dollars towards the one and a half million expecting, well, the equities on still on the other side. So even though inflation. Priced my lumber that much higher, all my materials, the cost of a work to build, they're still saying, well, I'm baking that into the extra 10, 20% I might make on the back end on the sale.

If I do a good job, as long as they get it done in six months or 12 months or less. Right. Because who knows what the market's going to be.

Brandon Kaufman: If they can with permits and all that. But I think part of what they're looking at too, like if we're just talking about like ground up developers, um, of, there's no new construction out there, right?

Anything that isn't, because there's certain buyers that only want new construction. And so, uh, you know, even if the market's soft. In these other athletes, you know, the regular resales, whatever. There's still always going to be a market, I think for new construction,

Aaron Pfeffer: great point. And that goes back to what we talked about, the purpose.

There is such a shortage of inventory and we, you know, you could try and tell anybody listening to that, but like really harping on that, having people understand like, yes, there really is that much sort of a shortage of an inventory. So. Oh, of any taste of any new construction comes in the market. It is right.

It's a massive, massive frenzy for this.

Brandon Kaufman: Yeah. I mean, they're, they're, they're going way over. And also like that's, what's available right now, but there was a time again where lumber shot up and went, you know? So, so there's times where people didn't build right. Similar, like the car market, for example, right.

They didn't have the, you know, they weren't building cars. And so we're seeing the shortage, you know, six months down, down the pike, right. For here, there was at a time where that, where they weren't buildings. There's going to be, I think even less, uh, new constructions available. So somebody is thinking right now, you know, yes, it's going to take maybe 12 to 18 months, but, um, you know, I know that I'm not going to be competing really against a ton of new constructions at that point because other people have kind of stopped building.

Right. So it's sort of, it's kind of counter-intuitive, but, uh, it does, um, you know, it does lend itself to, if you're the only show on. To some extent you can kind of name your price. Even if the interest rates are higher, whatever, that's also a, you know, tends to be a higher end buyer. They can get other types of, you know, other types of loans out there, you know, uh, through a private bank, uh, where, uh, you know, their rates are, you know, are, are still better than the average market, you know?

So I don't think it would affect that that much because that's what they're looking at.

Aaron Pfeffer: Okay. Now, now one thing I would say, and you, you know, kind of circling back to some of the, to the notion of creativity or, or what it is you have to break through, especially when there are so many operas on something.

I mean, Or perhaps the best person I've seen this and I've seen a lot. And I want to give you all the credit in the world. When you write an email, when you make a phone call, when you write an email, it's almost poetic that you're sending to the other listing agent. I love reading it. I love your professionalism.

I love your follow-up. I personally, I mean, I just love everything about what you've said, and I've seen you win a few deals because of it. You just had the. Tech and the right way to, to, to speak to that listing agent and to explain to them very clearly why your client and I mean, it's not just about appealing to a seller on the other end, like, oh, we're going to take care of your house.

And we know you've loved it, obviously. I mean, it's literally about that real estate agent. Who's listening on the other side, knowing that you're going to get it done, that the close is coming, that it's going to get done in the timeframe that they're expecting. Right. That everybody that you're the right person to work with.

Uh, and then your buyer is. Um, how have you honed those skills, I guess, you know, and then where does it go from here?

Brandon Kaufman: Yeah, so, so, you know, couple things on that, you know, obviously. There's a couple of people that are, you know, when you're on the buyer's side of the, the key to the deal sort of obviously, but the lender is number one.

Right? So having somebody that you trust, you know, the trust as a buyer's agent, you feel they'll be able to deliver. You can be that much more confident when you're talking to a listing agent saying, we're going to get this done. So that's number one. But also again, like the listing agent is it is the, uh, To the seller.

Right. Uh, and so I, I do, you know, in terms of how, how you conduct yourself, uh, you know, being concise and, you know, into the point, but also being detailed. Uh, and the reason why that might as a couple of things, okay. One they've discouraged like these personal letters or whatever, you know, whatever, you know, from a buyer to a seller.

So as an agent, you have, you know, sort of eat you, you don't share, you know, personal, you know, That's you're not allowed to, but you know, you tell us a little bit about your buyer, about your offer. Uh, you know, you, you make it as simple as you can also knowing that most agents are going to forward that email directly to the.

Right. So it's going to get in front of the seller one way or the other. Uh, and so, you know, if you show that you're detailed, um, you know, that that's your first impression is everything right? It's going to help you that much more in terms of, you know, that's how they are at the beginning. That's probably how they're going to be throughout the transaction.

And then, and then when we're on the listing side, we look for a second. I don't expect somebody to be as detailed. Um, but you know, but obviously how they conduct themselves, you know, is their paperwork, you know, uh, you know, complete, uh, and, and, and, and filled out in the right way. It tells you how they're going to be to work with.

So I w I want to do whatever I can to stand out, even if we don't get it, you know, maybe we have a chance to get it. They remember they remember us and, you know, we're able to get it on the second go around, but, you know, if it looks like everybody, yeah. It's going to be treated like everybody else, meaning you're probably not there.


Aaron Pfeffer: well, let's talk. Okay. And I appreciate all of that. Let's talk a little bit more about you because I'm one of your biggest fans, if not your biggest fan. You know, I see in here kicking butt every day and working so hard every morning, you're here early, late at night, you're working weekends, whatever it takes, uh, and your mind, your mindset, you know, and, and, and what you're attempting to do is.

Very focused and just have a great appreciation for that. So what, where do you see yourself now? The next couple of years, or even five years down the line? I mean, what are you hoping to achieve personally?

Brandon Kaufman: Yeah. No, thank you. I mean, and I appreciate, again, all the kind words, um, you know, ultimately again, you know, eats, there's nothing special.

Like in this business, like you have to, like, you're not going to recreate the wheel. You have to work hard. Right. You have to be there for your clients. You have to be re you know, responsive. That's all a given for, for me though. Right. You know, again, like my, you know, my big, why is, you know, I want to, I want to have a family.

I want to, um, you know, uh, you know, be, you know, be more involved in, you know, in the Jewish community and all that. So in order to help other people. You have to put in the work yourself, right. So there's no, there's no know replicated for that. So, uh, you know, just continuing to grow, like I'm, I'm starting to see, uh, you know, again, I think since I joined Andrew a couple of years ago, you know, close about 30 transactions, which is way more than I did before.

Uh, and so, you know, just, just,

Aaron Pfeffer: that's a big number. Let's let's let's pause it. Appreciate that for a second. Right? You said you've done that a little over a year. I mean, that's a tremendous. Yeah, thanks. Both sides of the equation, right? The buyer, the buying the sale,

Brandon Kaufman: both, you know, mostly, you know, mostly buyers, but also on the, on the listing side to more recently, but yeah, just continuing, continuing to grow that.

Right. You know, focusing on. On bringing in my own, you know, my own clients, obviously working with stuff with Andrew is awesome, but, uh, you know, you have to, you know, you will, you kill to some extent, right? You have to be, you know, you have to be out there, you have to, uh, you know, bring in that business. So yeah, just continuing to, uh, you know, to grow that part of things.

And hopefully some of these buyers who I've, you know, sold properties to, as they grow, as they expand, uh, you know, taking those first-time buyers and making them, uh, a licensed.

Aaron Pfeffer: We lost audio there for

Brandon Kaufman: a second. Okay. Here we go. Sorry. I apologize. Um, but yeah, so, um, um, yeah, but yeah, there's a bit, you know, that that's, that's basically the, um, you know, the inner the idea, just getting, you know, continuing to grow that. And I love working with Andrew. I like our setup that we have here.

And so. If it ain't broke, don't fix it right now. But thing, you know, just continue to grow and trust that the process is gonna work. Right. And you're not going to get every single deal. Um, but knowing that you're doing the right things and it's going to, it's going to pay. That's cool. That's

Aaron Pfeffer: what that is a very optimistic attitude.

Do you share that same optimism for the market itself? I mean, let's talk now a little bit about what you see happening. I mean, we talked about the perfect storm as to what's going on right now and Hey, we're weathering it and we almost enjoy holding on to like the masters 90 per hour winds are whipping around.

We're like Lieutenant Dan and the storm before it's Gump, like, come on, bring it on, you know, like challenge for us because that's the business. That's how it should feel. Um, you know, what about you? I mean, what do you, what do you think is going to happen with this? Now the real estate market over the next couple of years, now that we've kind of reached what feels like a crescendo.

Brandon Kaufman: Right? So, uh, you know, again, it's very hard to know. Right. Um, you know, they, you know, they always talk about like, you know, an act of God or something crazy happening to, to, to shift the market. You know, there's a war going on right now. Let's call it what it is. Right. And so you would think that something like that would have more of a downstream effect and frankly, it just hasn't, you know, it's continued the way it is.

So, you know, that gives me some peace in a weird way, some peace of mind, right. That, that, you know, we, we we've weathered the storm, you know, like that. I mean, obviously it hope, you know, hopefully it doesn't get worse. Um, but, uh, you know, as long as the inventory stays low, even if the demand shrinks to somebody.

We're still back at like, even almost right now, there's just such a deviation, right? Between like demand so high and supply so low, even it comes back to the middle. All right, then that is correct. But it's not a, a huge drop. Right. So that's what I think. And also in, you would know this from the lending side, like so many people who you've had refinanced, right.

From a 5% rate to a two and a half percent. Right, right. Where are they going to go? Or why would they want, you know, want to, I mean, they they're, they pull some cash out there, salt, you know, basically did the equivalent of what selling would do. They're comfortable where they're at. Uh, so, you know, I, I don't see that bringing more inventory to the markets.

So, you know, do I see it continue to go up forever? No, but. You know, is there the, the foundation, as we talked about of, uh, you know, bad loans out there and, and sort of, you know, what the, the writing on the wall from, from 2008, I know you and Andrew lived it. I don't, I don't, I don't see that. So, you know, ultimately.

You know, you have people that are waiting on the sidelines saying, oh, you know, waiting for it to go down. I've been hearing that for six years. Right. I haven't been doing this forever. Right. But for 12 years. Right, exactly. You know, and normally the cycles are, are 10 years. Uh, but I don't put much weight into that.

If you're, if you're going to buy something and you're going to stay there for awhile, what, what difference does it make? Right. If you can afford that payment, even if you know, you, you know, something happens, whatever you have enough. Why not buy. You know, because the rentals are not much cheaper either.

They're, they're, they're, they're almost the same as your mortgage. If not. Yeah. Rent rents

Aaron Pfeffer: have gone up so, so much. I mean, you're right there. There's an even against, and, and, and I hate to say it, but we've reached our 30 minutes. Otherwise I'd love to talk to you for another 30, but I love we're going to leave on that line.

Why not? Right. Quote-unquote from Brandon. I love it. Uh, thank you. Thank you. Thank you for joining us today. This was amazing as always we'll have you back as soon enough. Uh, appreciate it greatly.

Brandon Kaufman: Thank you so much, Erin. And thank you guys for watching. I appreciate it. So we'll talk to you soon. Thank you.


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