How to Build a Real Estate Career That Lasts in New York with Owning Manhattan’s Nile Lundgren

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Today on Commercial Real Estate
Secrets, we have Niall.

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Niall is one of the stars of
Owning Manhattan Season 1 and 2,

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which just dropped about a week
ago.

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Niall, thank you for being on
the show today.

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Thank you so much for having me
Aviva.

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I really appreciate it.
Of course.

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So you are the star of the
biggest New York City real

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estate show of all time.
How did we get here?

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It was a, it was a long journey.
I've been in real estate for 19

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years.
So I'm not like one of these

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actors that does real estate.
I'm a real estate guy through

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and through.
So got in the business when I

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was 23 years old.
I worked for a landlord.

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I started doing, you know,
basement rental apartments for

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$600 a month and, you know,
worked my way up.

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Decided to get my license and it
wasn't even licensed at the

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beginning.
And then I, I worked at a, a

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rental firm in the city, did
rentals there, quit, worked in

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commercial real estate.
Did that for about 2 1/2 years.

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Bang the phones made 300 dials a
day.

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Everything went, went pretty
terribly because I, I had lost,

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I lost all my money.
I mean, it was just so hard.

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I had built up like a bit of a
nest and then it all kind of

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went down And I, I learned how
to really, you know, make an

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impact on phone calls.
And then I joined, I've started

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my own company.
I joined Compass, I worked there

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for seven years.
And then when Ryan started his

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company, it was kind of a no
brainer for me to get in and,

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you know, be one of the founding
agents there.

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And I was agent #10 and you
know, rest is history.

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How does Someone Like You get
clients in such a competitive

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market even before you were a
star of ATV show?

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Yeah, great question.
I mean, now it's, it's still

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challenging.
You know, we are in a sea of

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agents here.
There's over 100,000 licensed

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real estate agents in New York
City alone.

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So the competition is stiff.
I'd say just just from, I'll

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give you one example.
You know, I have couple major

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relationships that I was able to
bridge over my before I was on a

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television show, right?
And one of the first ones I ever

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bridged was a gentleman who I
knew his family was a big real

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estate family.
And, you know, there was a

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charity event that they hosted
every year.

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And I didn't have any money in
the, the charity was about $500

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to go.
And my friend was like, you got

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to go to it.
So I put it on a credit card.

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And I met this this one person.
And then I waited a year and I

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went back to the same event.
OK.

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And this time I helped him break
down, you know, and like usher

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people out and clean the place
up and do that kind of stuff.

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And then because of that, they
invited me to their house and

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then I met all their friends and
then I became his friend.

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And that was one of my first and
biggest books of business that I

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got.
And I, you know, I'm

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consistently working with him
and his family to this day.

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So that's just one example.
But it's about putting yourself

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in the right positions, getting
in the right rooms, even if you

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don't have the money, even if
you don't believe in yourself,

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you don't have the resources or
capital, you know, it's about

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just being there and meeting
somebody because maybe in a year

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you'll meet them again.
So it's just about playing the

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long game.
I never have been in this

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business just to, you know,
sell, sell somebody a thing and

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make a Commission.
Like if it's not right for you,

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that's OK.
Like we're I don't care about

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you.
And if you care about the people

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that you meet and you care about
their best interests, they'll

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give you referrals and you'll
build a really solid book of

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business like I did.
I heard somebody say recently

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people overestimate what you can
do in a year and underestimate

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what you can do in 10 years.
And it's so interesting.

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You know, you talk about being
in the business for almost a

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couple decades now and it's just
such an interesting aspect where

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it's like you like this is the
long game.

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This is not like I always say I
work today to make money in

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three years, five years and 10
years.

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And for most people, that's
really hard to digest and pallet

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and but if you can do that and
strategically network like you

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have, it can pay dividends.
And and if you like it, right,

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like there's also this element
of authenticity.

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You don't like what you do.
It's so obvious.

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Yeah, so you.
See my face, I'm having, you

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know, everything you're saying
I'm eating up, you know, because

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I believe in the same
philosophy.

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And you know, I love what I do.
You know, I love, I love looking

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out for for people's best
interests.

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And you know, it's my favorite
thing is, you know, even if I, I

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think that they want it, but I
don't think that, you know, the

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three reasons that they said
that they wanted to buy in the

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1st place are all ticked.
Maybe two of them, You know,

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I'll even tell them, hey, happy
to make an offer.

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But at the beginning you told me
these three things and this

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property only ticks off 2.
Are you still OK with that?

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Like, I don't even, I don't, I'm
not trying to push it is the

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point.
And if you, and if you can learn

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that skill, you know, you, you,
it's like doing the work now,

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planting the seeds and then
you're sowing later.

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So it's like you constantly have
to be planting.

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So you get in the business and
you have to plant, plant, plant,

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plant, plant.
And then eventually there's like

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a sow.
And then for everybody in their

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career, and I'm sure you've had
this too, Aviva, you know, for

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me in in particular, I hit a, a
point where it was like, go, go,

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go.
And then there's like an

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exponential curve where
everything kind of converges

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into one.
And then, you know, a lot of

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people quit right before that
even happens.

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And I had to stick through many,
many hard, hard years that, you

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know, not making too much money
surviving in New York City.

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But I was committed to the long,
the long game.

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And I was committed to building
solid relationships with my

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clients and, you know, learning
the craft of selling real estate

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and understanding real estate
and analyzing real estate and

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modeling real estate and caring
about that and loving Excel, you

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know, and doing all those things
that not everybody wants to do.

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They want to say, they say, oh,
it's this is nice.

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You should buy it.
I'm like, no, here's why you

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should buy it.
You know, and you talk about the

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cap rate value add, can you add
major capital improvements?

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You know, there's so many
different things that can come

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into it.
And if you become a student of

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the game, and this is what, you
know, Don Tepman, who's the

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strip mall guy we have, we have
a great bond, but we we love to

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just get together and nerd out
about real estate, talk

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everything, you know, and it's
just so much fun on Excel.

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And like, you know, when you get
to that level, you know, you're

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not really working, You know,
you're just having a good time

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and you you're an expert in your
field and you understand it.

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And because you understand it,
you could expertly guide your

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clients in the right direction.
And if you do that long enough,

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then you get referrals and you
know, it compounds.

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So it's just about starting and
making sure that you're

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conscious every day to be
planting those seeds, just like

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you said, Aviva.
Shout out to Don.

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You know, we've all been in the
trenches together literally for

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decades.
And everybody's seeing success

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in different ways.
And it's so well deserved.

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Something I think that's
interesting about the New York

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City market is these
fluctuations happen, be it COVID

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or the economy.
And then you see on the media,

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you know, New York City, it's
over.

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This is this happens every time.
I feel, you know, New York

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City's going down, everybody's
leaving, and then it always

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seems to come back.
Why do you think that is?

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And what do you see for New York
City real estate in 2026?

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Clickbait, they're they're
literally doing it for clickbait

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and it, you know, I'll be
honest, I was here during COVID

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and the crazy thing is everybody
left.

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But what was even crazier is
that as those people left, a

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whole new wave of people just it
was like this.

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So they just came right back.
And, you know, everybody wants

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to be in New York.
I, I met, I was at the Sir

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Hannah house last night.
We did a live event where we met

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people from around the world who
came and people from Bangladesh,

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all these people, they know, you
know what we're doing.

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It's pretty crazy to kind of
see, to be honest.

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All they want to do is come to
New York.

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They're like, it's the dream.
So it's the global dream to be

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in New York.
So it's not going anywhere.

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I don't care who the mayor is.
The mayor is a student body

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council, OK?
There's a real principle

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involved and that's the
governor.

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So I'm not that worried about a
lot.

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And I, I thought my phones were
going to ring OK a lot more

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because I do business in South
Florida as well, but they didn't

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and it was quite surprising.
So in 2026, you know, I would

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say we, we just had a, a rate
cut by the Federal Reserve,

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which is very important for our
business, specifically your

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business because I mean you're,
you're really hamstring.

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But because it's just come down
to math, you know, it's numbers

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and that really screws the
markets up a little bit.

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So I'm optimistic that it's
going to continue to go and

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trend down in the right
direction next year.

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I do feel that there is a lot of
pent up buyer demand just

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because rates have been high.
They've been living with their

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moms or dads or parents living
together in rental apartments

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and there's just this pent up
demand that is trying to enter

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the market.
And I feel like this next year

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in 2026 is going to be that
year.

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Think the National Association
of Realtors expect the prices to

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increase by about 14% in 2026 on
the residential side across the

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board.
And that has a lot to do with

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quantitative easing.
Amazing, you know, the Fed just

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printing dollars into the
economy, stimulating it.

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And you know, all that's great.
But you know, it just, it

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inflates everything.
So is, you know, is the is

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everything going up or is the
dollar being weakened?

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You know, but either way, it's
going to be into an asset, you

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know, now while that happens or
get into it at the end of 2025

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before the year even happens.
So what is the most miss

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understood thing about New York
City real estate from your

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experience?
That there's a tremendous amount

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of nuances, right?
This we're not dealing with

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single family homes.
We're not dealing with very

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basic scenarios.
You have townhouses, which are

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essentially single family homes.
That's real property and you

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have co-ops which are much
different than anything anything

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anywhere else in the world has
seen.

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But basically you are not buying
the real property.

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The the building has become a
become a corporation and you're

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buying the stock certificate
with a lease back.

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So you buying, you're actually
buying shares that represent

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that property.
And 75% of the housing stock in

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Manhattan is co-ops for sale,
sale sale housing stock.

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So 75% of it is that.
The other 24 percent is condos.

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And then there's a fraction
which is condoms and all these

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are governed by different sets
of rules and regulations.

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You know, somebody who calls me
from France like, oh, I want to

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see this place.
I'm like, that sounds great.

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But this building is a Co-op and
part of their bylaws.

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They don't accept
internationals, They don't

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accept anyone who doesn't have a
US passport or US job.

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So you can't just buy it.
So a lot of times people like, I

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just want to, I just want to buy
this one.

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I'm like, easy, it's not what
you want to do.

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It's, it's what the rules are.
And you have to play by the

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rules and have all of your
boxes, you know, ticked to get

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there.
So it's, it's complicated.

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And you know, one of the things
that we do is we demystify the

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process here in New York City.
We help give clarity to a lot of

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those questions and we tell
people, look, this is something

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00:11:48,640 --> 00:11:51,800
that based on your particular
situation will not work.

223
00:11:51,800 --> 00:11:53,760
However, here's three other
ideas.

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00:11:54,000 --> 00:11:56,440
And I think that's the most
important part to start out with

225
00:11:56,440 --> 00:12:00,160
because a lot of people love,
love and spend so much time on

226
00:12:00,160 --> 00:12:03,560
these apartments that they just,
if they actually worked as

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00:12:03,560 --> 00:12:05,960
somebody who knew what they were
talking about, there's just no

228
00:12:05,960 --> 00:12:07,920
chance.
So don't even waste your time.

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00:12:07,920 --> 00:12:12,480
Let's go back over here.
You know, but I'm sure you find

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00:12:12,480 --> 00:12:15,880
that sometimes if somewhere
doesn't allow someone, it

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00:12:15,880 --> 00:12:19,760
probably makes them double down
on the property even more.

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00:12:20,840 --> 00:12:24,000
Yes, yes and no, but you know,
it's just, it's just about what

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00:12:24,000 --> 00:12:25,880
the facts are.
And if there's, you know, a

234
00:12:26,080 --> 00:12:30,040
document that says, hey, you
know, the, it's, it's, it's

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00:12:30,040 --> 00:12:32,120
offensive how much information
they ask for.

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00:12:32,120 --> 00:12:35,640
It's like 2 years tax return,
fill full bank statements, DNA

237
00:12:35,640 --> 00:12:39,240
test, 6 letters of reference
from everybody that you've ever

238
00:12:39,240 --> 00:12:42,440
met in your life, you know,
letters of employment, CPA

239
00:12:42,440 --> 00:12:45,480
letters, you know, full
financial statements, assets,

240
00:12:45,480 --> 00:12:48,480
liabilities and that people are
like, what, what is this?

241
00:12:48,840 --> 00:12:52,440
But the advantage to the coops
advantage is that when there's

242
00:12:52,440 --> 00:12:56,400
down markets, it's not as bad
because single family homes in

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00:12:56,400 --> 00:13:00,800
the rest of America, they might
be putting down 3% in co-ops.

244
00:13:00,800 --> 00:13:03,000
In New York City, the
requirement is to put down

245
00:13:03,000 --> 00:13:06,120
minimum 2530 all the way up to
100%.

246
00:13:06,240 --> 00:13:08,400
You can't even finance in some
of these buildings.

247
00:13:08,520 --> 00:13:10,280
You just won't allow it.
Yeah, that's the rule.

248
00:13:10,400 --> 00:13:13,120
You buy cash or you don't buy.
Is that crazy?

249
00:13:13,400 --> 00:13:15,960
But the thing about it is that
the reason why the co-ops can do

250
00:13:15,960 --> 00:13:18,360
that is because it's not real
property.

251
00:13:18,640 --> 00:13:20,520
You're not.
You're not buying, you know,

252
00:13:20,920 --> 00:13:24,760
essentially A deed per SE.
You're buying shares of a

253
00:13:24,760 --> 00:13:27,280
corporation.
So they don't have to operate by

254
00:13:27,520 --> 00:13:30,480
by normal laws.
They can discriminate.

255
00:13:30,600 --> 00:13:34,880
They they didn't allow Madonna
to buy in a Co-op because it

256
00:13:34,880 --> 00:13:37,000
would be too much attention to
our building.

257
00:13:37,000 --> 00:13:41,440
So let's just deny Ding.
It's like what there's, you

258
00:13:41,440 --> 00:13:43,800
know, that should be in the
cellar in that situation.

259
00:13:44,000 --> 00:13:46,640
They got somebody, Madonna's
going to pay you $20 million,

260
00:13:46,640 --> 00:13:50,400
Aviva and the building you live
in is like, that's too much

261
00:13:50,400 --> 00:13:52,600
paparazzi.
We're going to deny that I would

262
00:13:52,600 --> 00:13:55,000
be going crazy, but that's the
reality of it.

263
00:13:55,040 --> 00:13:58,400
But the advantage of it is when
the market goes down, because

264
00:13:58,400 --> 00:14:01,800
they put so much of a chunk of
equity in, these people are not

265
00:14:01,800 --> 00:14:04,400
frantic sellers.
So that's why the New York City

266
00:14:04,400 --> 00:14:08,560
market does not suffer when when
COVID happens and the markets go

267
00:14:08,560 --> 00:14:11,760
down 20%, well, that's fine.
They've already put 50% of

268
00:14:11,760 --> 00:14:15,720
equity in, so they're not
underwater with their lenders,

269
00:14:15,880 --> 00:14:19,160
which is what it's like.
You finance 9597% of it.

270
00:14:19,360 --> 00:14:20,840
Like all of a sudden you're in
trouble.

271
00:14:21,600 --> 00:14:23,720
You know what I'm saying?
Oh my God, I got to unload this.

272
00:14:23,720 --> 00:14:25,520
Oh, I lost 50K Show what?
Sell it.

273
00:14:25,760 --> 00:14:28,120
And in co-ops, they hold on to
it.

274
00:14:28,400 --> 00:14:31,520
You know, you got to have big
reserves, you got to have post

275
00:14:31,640 --> 00:14:35,040
closing liquidity.
So that makes it much safer

276
00:14:35,160 --> 00:14:37,680
during these down terms,
especially if you live there.

277
00:14:37,800 --> 00:14:39,760
If you work in New York, you
live in New York.

278
00:14:40,480 --> 00:14:44,600
Great investment for a Co-op but
like on the international side

279
00:14:44,640 --> 00:14:46,520
it's it's more of a condo
situation.

280
00:14:47,280 --> 00:14:52,200
And Madonna should have called
you because you streamline this.

281
00:14:52,520 --> 00:14:54,920
But now she will.
She's going to hear this

282
00:14:54,920 --> 00:14:56,240
podcast, then she's going to
call you.

283
00:14:56,320 --> 00:15:00,680
So.
OK, so tell me, what is one

284
00:15:00,680 --> 00:15:04,680
thing buyers obsess over in New
York City that they shouldn't be

285
00:15:04,680 --> 00:15:08,880
obsessing over?
Off market deals, I mean, Don

286
00:15:08,880 --> 00:15:12,600
put out a message today.
You know, most off market deals

287
00:15:12,600 --> 00:15:16,200
are overpriced in trash.
You know, people call me like I

288
00:15:16,200 --> 00:15:19,680
only want off market.
I'm like, but off market doesn't

289
00:15:19,680 --> 00:15:21,320
necessarily mean that they're a
seller.

290
00:15:21,680 --> 00:15:24,680
You know, I can call anybody and
say, and hey, would you accept

291
00:15:24,680 --> 00:15:26,800
an offer?
Yeah and the comparable is

292
00:15:26,800 --> 00:15:28,960
5,000,000 bucks and this guy
will accept 10.

293
00:15:28,960 --> 00:15:31,960
Do you want to spend because
this guy's on the market for

294
00:15:31,960 --> 00:15:36,120
five.
Do you want the off market one

295
00:15:36,120 --> 00:15:39,680
for 10?
I mean, OK, so I think that's

296
00:15:39,680 --> 00:15:44,120
funny because a lot of people
always say that and I've done

297
00:15:44,120 --> 00:15:46,600
off market deals and I've
gotten, you know, I've been on

298
00:15:46,600 --> 00:15:48,840
both sides of it and I've gotten
good deals and I've been in the

299
00:15:48,840 --> 00:15:50,680
middle of it.
So I get it.

300
00:15:50,960 --> 00:15:55,040
But it's not, in my opinion, the
only thing.

301
00:15:55,080 --> 00:15:58,120
And if you're going to really
look for something, you know,

302
00:15:58,880 --> 00:16:01,080
look what's on the market, look
what's on the market for more

303
00:16:01,080 --> 00:16:05,320
than 120 days, Look what just
came off the market in the last

304
00:16:05,320 --> 00:16:07,840
six months.
And then go back to those people

305
00:16:08,040 --> 00:16:11,400
instead of just calling every
everybody on the block, which is

306
00:16:11,400 --> 00:16:12,640
fine.
And I've done that.

307
00:16:12,640 --> 00:16:17,200
I know you do it too.
But buyers sometimes become

308
00:16:17,200 --> 00:16:20,560
hyper obsessed with it.
And I don't think that they know

309
00:16:20,560 --> 00:16:23,320
what they're talking about.
So hopefully that educates them

310
00:16:23,320 --> 00:16:27,480
a little bit to it.
I think about this all the time.

311
00:16:27,640 --> 00:16:29,880
You know, I get those calls I
want off market and it's like

312
00:16:30,360 --> 00:16:33,360
actually exactly what you said.
Let me find you something that's

313
00:16:33,360 --> 00:16:37,280
been on the market, sat on the
market has a willing fatigued

314
00:16:37,280 --> 00:16:41,080
seller and let's get you a great
deal as opposed to like you're

315
00:16:41,080 --> 00:16:45,280
saying no, it's it's funny.
It's the same thing over here in

316
00:16:45,280 --> 00:16:47,080
my camp.
Same same, same, same.

317
00:16:47,080 --> 00:16:50,000
I'm glad you asked that question
though, and I'm glad we fear the

318
00:16:50,000 --> 00:16:53,360
same, the same sentiment on it
because I think a lot of brokers

319
00:16:53,360 --> 00:16:56,120
struggle with that.
Because even me, I have brokers

320
00:16:56,120 --> 00:16:57,760
in my my office that work on my
team.

321
00:16:57,760 --> 00:17:01,440
I have a team of 10 and you
know, one of them is all about

322
00:17:01,440 --> 00:17:05,200
off market stuff and he's
calling and he's calling and I

323
00:17:05,200 --> 00:17:09,119
see like this other agent who
gets the off market but knows

324
00:17:09,119 --> 00:17:12,760
how to handle the objection and
then presents, you know, on

325
00:17:12,760 --> 00:17:15,800
market, off market, something
that just just came off market

326
00:17:15,800 --> 00:17:18,200
and represented right.
Even through the same broker,

327
00:17:18,200 --> 00:17:19,480
whatever.
I don't need you need to call

328
00:17:19,520 --> 00:17:21,640
the it's fine.
And then all of a sudden that

329
00:17:21,640 --> 00:17:25,000
person's doing 3 or 6 deals with
this guy's just like banging the

330
00:17:25,000 --> 00:17:27,400
phones for a block on in the
West Village.

331
00:17:27,400 --> 00:17:33,080
And I'm like, you know, if I'm,
if I'm a buyer, I want off

332
00:17:33,080 --> 00:17:36,200
market deals in the most coveted
neighborhood in the world too at

333
00:17:36,200 --> 00:17:39,400
a 50% discount.
Why are you running around?

334
00:17:39,400 --> 00:17:42,200
Do it like logic.
You know, you're looking for a

335
00:17:42,200 --> 00:17:45,880
needle in a haystack, and if you
just worked a little smarter and

336
00:17:45,880 --> 00:17:49,000
handled the objectives of your
buyer, you could be a lot more

337
00:17:49,000 --> 00:17:51,400
successful and your buyer could
buy a lot more too.

338
00:17:51,640 --> 00:17:54,280
So it's just about learning by
experience and getting better

339
00:17:54,280 --> 00:17:56,680
and better with handling those
objections and then coming up

340
00:17:56,680 --> 00:17:58,840
with solutions.
You know, that's the one thing

341
00:17:58,840 --> 00:18:01,760
that Ryan Sirhan has taught me
is like, you don't go into a

342
00:18:01,760 --> 00:18:05,400
meeting without 10 ideas.
Like you need to have a new idea

343
00:18:05,400 --> 00:18:08,320
for that same pitch the next
day, 10 new ones in case they

344
00:18:08,320 --> 00:18:11,240
call you back and ask for, you
know, we just OK, boom.

345
00:18:11,240 --> 00:18:12,800
What about this?
What about this?

346
00:18:12,960 --> 00:18:15,120
Because at least it shows that
you're thinking.

347
00:18:15,480 --> 00:18:18,960
And, you know, a lot of people
just listen to their clients.

348
00:18:19,320 --> 00:18:22,280
Oh, this is what they want.
And then they just try and do

349
00:18:22,280 --> 00:18:24,800
it.
But you also have to use the the

350
00:18:24,800 --> 00:18:28,000
fact that you're the ex.
Listen, I know you do finance.

351
00:18:28,120 --> 00:18:31,120
I know you do XY and Z.
I've been doing this for almost

352
00:18:31,120 --> 00:18:33,600
2 decades, OK?
That's why you're talking to me.

353
00:18:34,080 --> 00:18:35,480
You're not, you know, I'm not a
new.

354
00:18:35,480 --> 00:18:36,760
You're right.
You're talking to me because I'm

355
00:18:36,760 --> 00:18:38,840
the expert.
And as the expert, it's hard to

356
00:18:38,840 --> 00:18:40,800
say this.
It's hard to say what I'm

357
00:18:40,800 --> 00:18:42,880
saying.
And as the expert, this is how

358
00:18:42,880 --> 00:18:44,880
we're going to approach or
tackle this issue.

359
00:18:45,560 --> 00:18:47,960
I'll get back to you.
I'm on it and I'll and I'll show

360
00:18:47,960 --> 00:18:48,800
you how I work.
Ready.

361
00:18:48,800 --> 00:18:51,240
Let's go and hang up the phone.
I don't need to talk.

362
00:18:51,360 --> 00:18:57,560
OK, Now hunt.
No, it's interesting how even in

363
00:18:57,560 --> 00:19:01,640
the biggest market like New
York, it applies everywhere.

364
00:19:02,840 --> 00:19:06,840
So the fundamentals, right, the
nuances it's like you said are

365
00:19:06,840 --> 00:19:09,560
different, but the fundamentals
remain the same.

366
00:19:09,840 --> 00:19:12,000
So.
And then people ask me all the

367
00:19:12,000 --> 00:19:14,760
time, you know, what's the best
advice on negotiation?

368
00:19:14,760 --> 00:19:16,680
Well, how do you become a new
agent?

369
00:19:17,280 --> 00:19:20,080
And I'm like, same thing.
It's just like the fundamentals,

370
00:19:20,240 --> 00:19:23,200
you know, if you see a new piece
of property every day, in my

371
00:19:23,200 --> 00:19:27,160
opinion, over almost 19 years in
the business now, you know how

372
00:19:27,160 --> 00:19:29,400
many properties I've seen
because I see one piece of

373
00:19:29,400 --> 00:19:32,680
property every day.
But like it looks silly at the

374
00:19:32,680 --> 00:19:36,080
beginning one piece.
But after a decade, I'm like, I

375
00:19:36,080 --> 00:19:41,080
have an encyclopedic knowledge
of every building, who the owner

376
00:19:41,080 --> 00:19:42,320
is.
Is it a condo?

377
00:19:42,320 --> 00:19:44,400
Is it 25 feet?
Is it 50 feet?

378
00:19:44,400 --> 00:19:46,440
Is it on a corner?
Does it have retail?

379
00:19:46,560 --> 00:19:48,880
Is it developable?
Is there air rights available?

380
00:19:49,080 --> 00:19:52,080
And all these views is the view
going to potentially be

381
00:19:52,080 --> 00:19:54,880
obstructed lot line windows,
like so many different things.

382
00:19:55,240 --> 00:19:57,760
And that just comes from getting
out there.

383
00:19:58,000 --> 00:20:00,840
And that's nothing special.
I'm not a, there's nothing

384
00:20:00,840 --> 00:20:03,320
special about that.
It's just getting out there.

385
00:20:03,320 --> 00:20:07,760
So if you could get up and get
out every day, even if it's just

386
00:20:07,760 --> 00:20:11,080
a broker's open house or just an
open house or just a preview,

387
00:20:11,720 --> 00:20:13,840
you know, call someone up.
Hey, I might have somebody.

388
00:20:13,840 --> 00:20:15,160
I just want to get in real
quick.

389
00:20:15,400 --> 00:20:17,960
Do that every day.
Go to the open hat, right?

390
00:20:18,120 --> 00:20:20,520
You do that.
I guarantee in six months you're

391
00:20:20,520 --> 00:20:22,640
going to, when the client calls,
you're going to know more than

392
00:20:22,640 --> 00:20:24,720
the client.
Because right now, without going

393
00:20:24,720 --> 00:20:26,920
to those properties, they're
like, well, what about Eddie

394
00:20:26,920 --> 00:20:29,680
Clarkson?
And you're like, well, no, I can

395
00:20:29,680 --> 00:20:32,760
tell you exactly about educated
Clarkson. 2 towers West Village

396
00:20:33,120 --> 00:20:36,840
built by the 2nd dwarfs, right?
And then all of a sudden they,

397
00:20:36,960 --> 00:20:38,280
they're like, wow, this guy
knows.

398
00:20:38,320 --> 00:20:43,840
And that nuance creates trust.
And that trust is how you build

399
00:20:43,840 --> 00:20:47,280
the business.
Well, that's a mic drop that'll

400
00:20:47,280 --> 00:20:53,800
work for a great clip.
No, I think I've noticed there's

401
00:20:53,800 --> 00:20:56,960
like an unlock after you do
something for so long.

402
00:20:56,960 --> 00:20:58,760
The same thing in the same
place.

403
00:20:58,760 --> 00:21:01,520
Like my specialty is warehousing
in Colorado.

404
00:21:01,800 --> 00:21:04,240
So it's all I know.
Live, breathe.

405
00:21:04,240 --> 00:21:06,400
I feel like the buildings are
like people.

406
00:21:06,480 --> 00:21:08,920
I know them.
It's like you're saying, and

407
00:21:09,520 --> 00:21:12,280
it's like playing a video game
after like 10 years of doing

408
00:21:12,280 --> 00:21:14,920
something professionally full
time where you level up and

409
00:21:14,920 --> 00:21:17,200
you're like, holy shit, like
let's go.

410
00:21:17,200 --> 00:21:20,000
Like I'm just getting started.
We're young.

411
00:21:20,440 --> 00:21:23,400
We're we have, you know, we're,
we like to work hard.

412
00:21:23,400 --> 00:21:26,840
We love what we do.
It's a really advantageous place

413
00:21:26,840 --> 00:21:28,120
to be.
And we happen to do it in the

414
00:21:28,120 --> 00:21:31,120
best country in the entire
world, so hell yeah.

415
00:21:31,720 --> 00:21:33,960
And we like media.
You know, it's all about the

416
00:21:33,960 --> 00:21:37,400
media in my opinion too,
because, you know, I work with

417
00:21:37,400 --> 00:21:42,640
Ryan Surhan and Ryan is he's a
master at the media.

418
00:21:42,720 --> 00:21:46,080
And you know, I learned so much.
So it's like everything that you

419
00:21:46,080 --> 00:21:48,160
just talked about, the
compounding that, you know, the

420
00:21:48,240 --> 00:21:50,920
sticking in the business and all
that stuff is important.

421
00:21:51,360 --> 00:21:53,640
But what you're doing that's
unique is that you're out here

422
00:21:53,640 --> 00:21:57,080
and you're doing podcasts and
you're on X giving it every

423
00:21:57,080 --> 00:21:59,760
single day.
And just like real estate,

424
00:21:59,760 --> 00:22:02,360
getting out there and seeing at
one piece of real estate every

425
00:22:02,360 --> 00:22:06,360
day, the fundamentals here are
posting on X every day and then

426
00:22:06,360 --> 00:22:09,320
getting a podcast with this
person and then setting that up

427
00:22:09,320 --> 00:22:10,720
and scheduling it and do it
right.

428
00:22:10,720 --> 00:22:12,440
And those are fundamental.
We're not, we're talking about

429
00:22:12,440 --> 00:22:14,640
scheduling.
We're talking about opening up

430
00:22:14,640 --> 00:22:17,440
an app in your phone and just
hitting a couple buttons and

431
00:22:17,440 --> 00:22:20,360
saying what you feel about how
you're experiencing your real

432
00:22:20,360 --> 00:22:22,320
estate market or your or the
client.

433
00:22:22,520 --> 00:22:26,320
And that is the same thing in
parallel to to going and seeing

434
00:22:26,320 --> 00:22:29,480
all of those pieces of real
estate and you're doing a great

435
00:22:29,480 --> 00:22:31,000
job.
I just want to take a moment and

436
00:22:31,000 --> 00:22:34,200
and give you a hats off because
you know, I'm out here and I see

437
00:22:34,200 --> 00:22:37,320
you and I don't know anything
about warehousing in Denver, but

438
00:22:37,320 --> 00:22:40,680
I'm interested.
So that's incredible, right?

439
00:22:40,680 --> 00:22:43,240
I'm you know, I'm in New York,
you know, I'm big, you know,

440
00:22:43,240 --> 00:22:45,200
doing a lot of deals in New
York, but I'm like watching your

441
00:22:45,200 --> 00:22:47,200
account like, oh, wow, very
interesting.

442
00:22:47,280 --> 00:22:49,600
I love what she's doing.
I love your perspective on that.

443
00:22:49,600 --> 00:22:51,200
Watch that podcast.
Super cool.

444
00:22:51,320 --> 00:22:54,360
So what I think is the is the
best is everything that you just

445
00:22:54,360 --> 00:22:57,600
said with like the media
sprinkled all on top of it.

446
00:22:58,000 --> 00:23:01,480
And if you do that, it's like.
Game over.

447
00:23:01,480 --> 00:23:04,240
Oh yeah.
I mean when the silver tsunami

448
00:23:04,240 --> 00:23:08,440
hits.
And our parents and grandparents

449
00:23:08,440 --> 00:23:10,840
and the baby boomer generation
retires.

450
00:23:10,960 --> 00:23:12,920
It's over, but it's already
over.

451
00:23:13,400 --> 00:23:18,440
So no, it's, you know, I, I
appreciate the kind words you

452
00:23:18,440 --> 00:23:20,920
said in season 2 of owning
Manhattan.

453
00:23:22,480 --> 00:23:24,400
I think his name is Dan, the new
guy.

454
00:23:24,800 --> 00:23:27,120
You said we're selling
enthusiasm.

455
00:23:28,120 --> 00:23:32,720
And now just talking to you,
it's obviously just it's real.

456
00:23:32,720 --> 00:23:35,680
Like that's real.
That's actually what you feel.

457
00:23:36,000 --> 00:23:41,160
And now just having this time
with you, I mean, I don't think

458
00:23:41,160 --> 00:23:43,960
anybody could listen to this
podcast and think otherwise.

459
00:23:44,200 --> 00:23:47,440
So it's cool to see that.
And and when you said that it

460
00:23:47,440 --> 00:23:50,680
was like an unlock, like, holy
shit, he's right.

461
00:23:50,880 --> 00:23:55,120
Like we are selling, being
enthusiastic or not.

462
00:23:55,120 --> 00:23:58,560
It's like you said, being able
to tell your client this isn't

463
00:23:58,560 --> 00:24:00,440
it?
Like we talked about what it

464
00:24:00,440 --> 00:24:02,840
was.
So like I said, back to the

465
00:24:02,840 --> 00:24:07,560
authenticity piece, people can
smell that shit out, but whether

466
00:24:07,560 --> 00:24:11,600
it's on this screen, whether
it's on Netflix, it doesn't

467
00:24:11,600 --> 00:24:14,440
matter.
Real is real and and I feel it

468
00:24:14,440 --> 00:24:16,080
with you.
So it's dope to like have this

469
00:24:16,080 --> 00:24:18,480
conversation and and get there
with you.

470
00:24:19,320 --> 00:24:23,200
Absolutely.
OK, let me before I let you go,

471
00:24:23,720 --> 00:24:27,680
what is 1 New York real estate
myth you'd kill forever?

472
00:24:28,280 --> 00:24:33,920
One New York City real estate
myth that I would kill forever

473
00:24:35,640 --> 00:24:40,320
probably you know, on the rental
side because it's if you look at

474
00:24:40,320 --> 00:24:44,760
the housing stock of New York,
75% of it is for rent.

475
00:24:44,960 --> 00:24:49,600
So there's 25 is for sale and
out of the 25% is the 75% Co-op

476
00:24:49,600 --> 00:24:53,840
right?
So New York is a rental city.

477
00:24:53,960 --> 00:24:56,120
Most people rent.
I started my career doing

478
00:24:56,120 --> 00:25:01,400
hundreds of rentals.
It's crazy, but what most people

479
00:25:01,400 --> 00:25:03,800
think is that they can get a
better deal without using an

480
00:25:03,800 --> 00:25:06,600
agent.
And I don't know where people

481
00:25:06,600 --> 00:25:09,240
are from, but if you're from
Minnesota, I'm sure you could go

482
00:25:09,240 --> 00:25:11,200
on the Internet and have a
pretty decent time.

483
00:25:13,360 --> 00:25:16,200
But in New York it's a lot
different.

484
00:25:16,200 --> 00:25:18,680
The competition, you remember,
there's seven applications on

485
00:25:18,680 --> 00:25:22,160
one apartment.
And if I am working with you and

486
00:25:22,160 --> 00:25:24,600
I, because I've been doing this
forever, just have a

487
00:25:24,600 --> 00:25:29,800
relationship with John Broker,
then I'm like John, you know,

488
00:25:29,960 --> 00:25:33,320
and then John and I, you know,
and that's how you do the deal.

489
00:25:33,560 --> 00:25:35,240
And a lot of times it's
relationships.

490
00:25:35,440 --> 00:25:38,320
So, you know, we do a lot of
deals like that, but it's always

491
00:25:38,320 --> 00:25:40,280
people saying, oh, I don't want
to work with a broker.

492
00:25:40,280 --> 00:25:41,760
I'm trying to save some money,
OK.

493
00:25:41,960 --> 00:25:44,040
And then they call back and
they're like, man, I got

494
00:25:44,040 --> 00:25:46,360
destroyed.
This guy over here tried taking

495
00:25:46,360 --> 00:25:48,440
my money and I almost got
scammed on the corner.

496
00:25:48,440 --> 00:25:52,760
I'm like, right, right.
That's what I'm saying.

497
00:25:52,760 --> 00:25:55,840
So you know it, you know,
sometimes it might be expensive,

498
00:25:55,840 --> 00:25:59,800
but I think overall it's totally
worth it and it makes your life

499
00:25:59,800 --> 00:26:01,920
a lot easier, especially if
you're just coming to the city

500
00:26:01,920 --> 00:26:03,400
new.
It's such a big city.

501
00:26:03,400 --> 00:26:06,040
There's so much to know.
Is this neighborhood good?

502
00:26:06,040 --> 00:26:08,640
Where's the subway here?
Like to have somebody just, you

503
00:26:08,640 --> 00:26:11,360
know, guide you, walk you
through everything, make sure

504
00:26:11,360 --> 00:26:14,160
you're comfortable.
You know, the extra month you're

505
00:26:14,160 --> 00:26:15,840
paying, it's not it's not going
to kill you.

506
00:26:16,000 --> 00:26:18,880
You're making the move anyway.
So just it's always best to have

507
00:26:18,880 --> 00:26:20,680
somebody in your corner to be
your advisor.

508
00:26:20,680 --> 00:26:22,160
I think that's one of the
biggest myths.

509
00:26:22,160 --> 00:26:24,000
People like, oh, I could do it.
I'm like, all right.

510
00:26:24,000 --> 00:26:27,440
And I always say, good, you let
me know how it goes. 48 hours

511
00:26:27,440 --> 00:26:31,560
later, they're like, hey, I'm
like, yeah, it's OK, you tried.

512
00:26:32,120 --> 00:26:34,680
You're like, that was quick, but
you know, yeah.

513
00:26:35,440 --> 00:26:37,120
OK.
Niall, before I let you go, last

514
00:26:37,120 --> 00:26:40,400
question, what is your real
estate secret?

515
00:26:43,120 --> 00:26:46,000
That's a good one.
My real estate secret is the

516
00:26:46,000 --> 00:26:51,160
system is always the solution.
So I have, I have about 30

517
00:26:51,160 --> 00:26:54,120
active listings right now.
I have a team of 10 different

518
00:26:54,120 --> 00:26:57,000
agents between New York City and
the South Florida market.

519
00:26:57,520 --> 00:27:00,560
The only way that I would be
able to do that is if I had

520
00:27:00,560 --> 00:27:03,960
very, very dialed in systems.
Doesn't have to be super

521
00:27:03,960 --> 00:27:06,080
complex.
For a lot of it, I just use

522
00:27:06,080 --> 00:27:10,080
Excel spreadsheets, but I had
every deal, every situation

523
00:27:10,360 --> 00:27:12,880
logged.
Every time a deal comes in, it

524
00:27:12,880 --> 00:27:15,200
gets its new folder.
I have a visit tracker for

525
00:27:15,200 --> 00:27:18,400
everything.
We just mirror, we mirror

526
00:27:18,400 --> 00:27:20,600
everything.
So like if we have marketing,

527
00:27:20,880 --> 00:27:24,280
we'll just copy it to the next
project and then we just follow

528
00:27:24,280 --> 00:27:25,960
it.
So once you post it here, you

529
00:27:25,960 --> 00:27:28,160
post it here, then you go send
out the e-mail update.

530
00:27:28,160 --> 00:27:30,800
Then you do this, then you ask
for brokers open house.

531
00:27:30,800 --> 00:27:33,280
Then to confirm the brokers
house, you send this form

532
00:27:33,280 --> 00:27:36,680
template to the title insurance
guy, who's then going to do the,

533
00:27:36,680 --> 00:27:38,960
you know, the catering and and
then the photographer.

534
00:27:38,960 --> 00:27:42,000
And then there's just every no
thinking.

535
00:27:42,480 --> 00:27:46,560
We've made it so dialed in that
you do not have to think.

536
00:27:46,560 --> 00:27:50,840
If I had to think and make it up
for 30 different listings, I

537
00:27:50,840 --> 00:27:55,400
would literally lose my mind and
jump off the Brooklyn Bridge,

538
00:27:55,760 --> 00:27:58,200
right?
But because I have a system and

539
00:27:58,200 --> 00:28:02,120
I know how to do it, I teach my
whole team to operate within the

540
00:28:02,120 --> 00:28:05,440
system that gives me visibility.
I have different people,

541
00:28:05,440 --> 00:28:08,880
assistants, managers, right,
marketing managers, and then

542
00:28:08,880 --> 00:28:11,400
they all communicate.
We use Slack, we have team

543
00:28:11,400 --> 00:28:14,080
meetings.
And that allows us to

544
00:28:14,080 --> 00:28:17,880
exponentially scale, right?
Versus me just running around

545
00:28:18,040 --> 00:28:20,960
doing 3 listings like a chick
with my head cut off, right?

546
00:28:20,960 --> 00:28:24,600
And like, Nah, give me 10 more
because we have the system and

547
00:28:24,600 --> 00:28:27,040
everybody knows the system
because I've been training them.

548
00:28:27,360 --> 00:28:30,680
So it's becoming more and more
real that we're able to scale at

549
00:28:30,680 --> 00:28:34,320
a large scale.
And yeah, I think 2026 is going

550
00:28:34,320 --> 00:28:36,640
to be gangbusters.
I'm I'm not going to lie.

551
00:28:37,800 --> 00:28:40,840
I have no doubt it is.
When you're ready to expand to

552
00:28:40,840 --> 00:28:47,080
Colorado, call me.
And no, Congrats on all your

553
00:28:47,080 --> 00:28:48,880
successes.
It's well deserved.

554
00:28:49,280 --> 00:28:51,880
Thank you.
I love watching you, like I

555
00:28:51,880 --> 00:28:55,480
said, on social and on the big
screen, and I appreciate your

556
00:28:55,480 --> 00:28:58,840
time today.
So for everybody listening,

557
00:28:59,400 --> 00:29:04,200
Niles Lundrit.
I I'm Lundgren Lundgren

558
00:29:04,560 --> 00:29:08,320
Lundgren, yes.
Sorry, I should have.

559
00:29:08,400 --> 00:29:09,640
I should have got that in the
1st place.

560
00:29:09,800 --> 00:29:13,400
That's OK.
Niall Lundgren out of New York

561
00:29:13,400 --> 00:29:16,840
City, give him a call for your
next acquisition and we'll see

562
00:29:16,840 --> 00:29:22,640
you next week.
That's a wrap for this week on

563
00:29:22,640 --> 00:29:26,560
commercial real estate secrets.
If you found value, do us a

564
00:29:26,560 --> 00:29:30,360
favor and subscribe.
Leave a review and share it with

565
00:29:30,360 --> 00:29:32,760
a fellow commercial real estate
lover.

566
00:29:33,440 --> 00:29:35,960
For brokerage services or to
connect, visit

567
00:29:35,960 --> 00:29:38,640
warehousehotline.com.
I'm Aviva.

568
00:29:39,040 --> 00:29:40,280
We'll see you next week.