Dec. 17, 2025
How to Build a Real Estate Career That Lasts in New York with Owning Manhattan’s Nile Lundgren
In today’s episode, I sit down with Nile Lundgren, star of Netflix’s Owning Manhattan, to talk about what it really takes to succeed in New York City real estate—playing the long game, building real trust with clients, why off-market deals are often misunderstood, and how systems and media allow agents to scale in the most competitive market in the world. Hope you enjoy!
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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, you should
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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 Tettman, 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
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it.
And because you understand it,
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you could expertly guide your
clients in the right direction.
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And if you do that long enough,
then you get referrals and you
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know, it compounds.
So it's just about starting and
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making sure that you're
conscious every day to be
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planting those seeds, just like
you said, Aviva.
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Shout out to Don.
You know, we've all been in the
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trenches together literally for
decades.
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And everybody's seeing success
in different ways.
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And it's so well deserved.
Something I think that's
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interesting about the New York
City market is these
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fluctuations happen, be it COVID
or the economy.
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And then you see on the media,
you know, New York City, it's
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over.
This is this happens every time.
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I feel, you know, New York
City's going down, everybody's
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leaving, and then it always
seems to come back.
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Why do you think that is?
And what do you see for New York
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City real estate in 2026?
Clickbait, they're they're
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literally doing it for clickbait
and it, you know, I'll be
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honest, I was here during COVID
and the crazy thing is everybody
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left.
But what was even crazier is
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that as those people left, a
whole new wave of people just it
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was like this.
So they just came right back and
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you know, everybody wants to be
in New York.
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I, I met, I was at the Sir
Hannah house last night.
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We did a live event where we met
people from around the world who
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came and people from Bangladesh,
all these people, they know, you
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know what we're doing.
It's pretty crazy to kind of
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see, to be honest.
But but what was the other thing
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that you were saying?
There's two-part question.
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What was the other part I was
going to answer?
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2026 Predictions for. 2026 SO
oh, and those people from
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Bangladesh, by the way, 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 using, you
know, the Fed just printing
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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.
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And all of these are governed by
different sets of rules and
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regulations.
You know, somebody who calls me
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from France like, oh, I want to
see this place.
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I'm like, that sounds great.
But this building is a Co-op and
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part of their bylaws.
They don't accept
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internationals, They don't
accept anyone who doesn't have a
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US passport or US job.
So you can't just buy it.
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So a lot of times people like, I
just want to, I just want to buy
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this one.
I'm like, easy, it's not what
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you want to do.
It's, it's what the rules are.
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And you have to play by the
rules and have all of your
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boxes, you know, ticked to get
there.
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So it's, it's complicated.
And you know, one of the things
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that we do is we demystify the
process here in New York City.
225
00:11:56,360 --> 00:11:59,920
We help give clarity to a lot of
those questions and we tell
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00:11:59,920 --> 00:12:03,040
people, look, this is something
that based on your particular
227
00:12:03,040 --> 00:12:05,960
situation will not work.
However, here's three other
228
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ideas.
And I think that's the most
229
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important part to start out with
because a lot of people love,
230
00:12:11,040 --> 00:12:15,040
love and spend so much time on
these apartments that they just,
231
00:12:15,080 --> 00:12:17,120
if they actually worked as
somebody who knew what they were
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talking about, there's just no
chance.
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So don't even waste your time.
Let's go back over here, you
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00:12:22,720 --> 00:12:25,480
know.
But I'm sure you find that
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sometimes if somewhere doesn't
allow someone, it probably makes
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them double down on the property
even more.
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00:12:33,560 --> 00:12:36,720
Yes, yes and no, but you know,
it's just, it's just about what
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the facts are.
And if there's, you know, a
239
00:12:38,760 --> 00:12:42,760
document that says, hey, you
know, the it's it's, it's
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00:12:42,760 --> 00:12:44,840
offensive how much information
they ask for.
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00:12:44,840 --> 00:12:48,360
It's like 2 years tax return,
fill full bank statements, DNA
242
00:12:48,360 --> 00:12:51,960
test, 6 letters of reference
from everybody that you've ever
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00:12:51,960 --> 00:12:54,480
met in your life.
You know, letters of employment,
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00:12:54,480 --> 00:12:58,200
CPA letters, you know, full
financial statements, assets,
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00:12:58,200 --> 00:13:01,200
liabilities and that people are
like what what is this?
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But the advantage to the co-ops,
the advantage is that when
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there's down markets, it's not
as bad because single family
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homes in the rest of America,
they might be putting down 3% in
249
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co-ops.
In New York City, the
250
00:13:14,320 --> 00:13:18,120
requirement is to put down
minimum 2530 all the way up to
251
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100%.
You can't even finance in some
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of these buildings.
It just won't allow it.
253
00:13:22,120 --> 00:13:24,800
Yeah, that's the rule.
You buy cash or you don't buy.
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00:13:25,000 --> 00:13:27,160
Is that crazy?
But the thing about it is that
255
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the reason why the co-ops can do
that is because it's not real
256
00:13:30,560 --> 00:13:31,720
property.
You're not.
257
00:13:31,760 --> 00:13:36,080
You're not buying, you know,
essentially A deed per SE.
258
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You're you're buying shares of a
corporation.
259
00:13:38,120 --> 00:13:41,840
So they don't have to operate by
by normal laws.
260
00:13:42,240 --> 00:13:44,920
They can discriminate.
They they didn't allow Madonna
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00:13:44,920 --> 00:13:49,080
to buy in a Co-op because it
would be too much attention to
262
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our building.
So let's just deny Ding.
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00:13:52,440 --> 00:13:55,040
It's like what there's, you
know, that should be in the
264
00:13:55,040 --> 00:13:58,000
seller in that situation.
They got somebody, Madonna's
265
00:13:58,000 --> 00:14:00,560
going to pay you $20 million,
Aviva and the building you live
266
00:14:00,560 --> 00:14:03,800
in is like, Nah, so much
paparazzi.
267
00:14:03,960 --> 00:14:07,080
We're going to deny that I would
be going crazy, but that's the
268
00:14:07,080 --> 00:14:09,360
reality of it.
But the advantage of it is when
269
00:14:09,360 --> 00:14:12,640
the market goes down, because
they put so much of a chunk of
270
00:14:12,680 --> 00:14:15,640
equity in, these people are not
frantic sellers.
271
00:14:15,960 --> 00:14:19,000
So that's why the New York City
market does not suffer when,
272
00:14:19,000 --> 00:14:22,480
when COVID happens and the
markets go down 20%, well,
273
00:14:22,480 --> 00:14:24,520
that's fine.
They've already put 50% of
274
00:14:24,520 --> 00:14:28,400
equity in, so they're not
underwater with their lenders,
275
00:14:28,560 --> 00:14:31,840
which is what it's like when you
finance 9597% of it.
276
00:14:32,040 --> 00:14:33,520
Like all of a sudden you're in
trouble.
277
00:14:34,280 --> 00:14:36,360
You know what I'm saying?
Oh my God, I got to unload this.
278
00:14:36,400 --> 00:14:38,200
Oh, I lost 50K Show what?
Sell it.
279
00:14:38,400 --> 00:14:40,800
And in co-ops, they hold on to
it.
280
00:14:41,080 --> 00:14:44,200
You know, you got to have big
reserves, you got to have post
281
00:14:44,320 --> 00:14:47,720
closing liquidity.
So that makes it much safer
282
00:14:47,840 --> 00:14:50,360
during these down terms,
especially if you live there.
283
00:14:50,440 --> 00:14:52,440
If you work in New York, you
live in New York.
284
00:14:53,160 --> 00:14:57,280
Great investment for a Co-op but
like on the international side
285
00:14:57,320 --> 00:14:59,200
it's it's more of a condo
situation.
286
00:14:59,960 --> 00:15:04,880
And Madonna should have called
you cuz you streamline this.
287
00:15:05,200 --> 00:15:08,040
But now she will.
She's gonna hear this podcast,
288
00:15:08,040 --> 00:15:09,360
then she's gonna call you.
So.
289
00:15:11,360 --> 00:15:15,680
OK, so tell me, what is one
thing buyers obsess over in New
290
00:15:15,680 --> 00:15:18,240
York City that they shouldn't be
obsessing over?
291
00:15:18,760 --> 00:15:23,280
Off market deals, I mean, Don
Don put out a message today.
292
00:15:23,600 --> 00:15:27,040
You know, most off market deals
are overpriced in trash.
293
00:15:27,400 --> 00:15:30,280
You know, people call me like I
only want off market.
294
00:15:30,280 --> 00:15:33,400
I'm like, but off market doesn't
necessarily mean that they're a
295
00:15:33,400 --> 00:15:35,880
seller.
You know, I can call anybody and
296
00:15:35,880 --> 00:15:37,720
say, and hey, would you accept
an offer?
297
00:15:37,960 --> 00:15:40,120
Yeah.
And the comparable is 5,000,000
298
00:15:40,120 --> 00:15:41,640
bucks and this guy will accept
10.
299
00:15:41,640 --> 00:15:44,480
Do you want to spend?
Because this guy's on the market
300
00:15:44,480 --> 00:15:48,800
for five.
Do you want the off market one
301
00:15:48,800 --> 00:15:52,360
for 10?
I mean, OK, so I think that's
302
00:15:52,360 --> 00:15:56,840
funny because a lot of people
always say that and I've done
303
00:15:56,840 --> 00:15:59,320
off market deals and I've
gotten, you know, I've been on
304
00:15:59,320 --> 00:16:01,520
both sides of it and I've gotten
good deals and I've been in the
305
00:16:01,520 --> 00:16:03,360
middle of it.
So I get it.
306
00:16:03,680 --> 00:16:07,720
But it's not, in my opinion, the
only thing.
307
00:16:07,760 --> 00:16:10,840
And if you're going to really
look for something, you know,
308
00:16:11,600 --> 00:16:13,760
look what's on the market, look
what's on the market for more
309
00:16:13,760 --> 00:16:18,040
than 120 days, Look what just
came off the market in the last
310
00:16:18,040 --> 00:16:20,560
six months.
And then go back to those people
311
00:16:20,760 --> 00:16:24,080
instead of just calling every
everybody on the block, which is
312
00:16:24,080 --> 00:16:25,360
fine.
And I've done that.
313
00:16:25,360 --> 00:16:29,920
I know you do it too.
But buyers sometimes become
314
00:16:29,920 --> 00:16:33,280
hyper obsessed with it.
And I don't think that they know
315
00:16:33,280 --> 00:16:36,040
what they're talking about.
So hopefully that educates them
316
00:16:36,040 --> 00:16:40,240
a little bit to it.
I think about this all the time.
317
00:16:40,360 --> 00:16:42,640
You know, I get those calls I
want off market and it's like
318
00:16:43,080 --> 00:16:46,080
actually exactly what you said.
Let me find you something that's
319
00:16:46,080 --> 00:16:50,000
been on the market, sat on the
market has a willing fatigued
320
00:16:50,000 --> 00:16:53,800
seller and let's get you a great
deal as opposed to like you're
321
00:16:53,800 --> 00:16:58,000
saying no, it's it's funny.
It's the same thing over here in
322
00:16:58,000 --> 00:16:59,840
my camp.
Same, same, same, same.
323
00:16:59,840 --> 00:17:02,760
I'm glad you asked that question
though, and I'm glad we fear the
324
00:17:02,760 --> 00:17:06,119
same, the same sentiment on it
because I think a lot of brokers
325
00:17:06,119 --> 00:17:09,599
struggle with that because even
me, I have brokers in my office
326
00:17:09,599 --> 00:17:12,560
that work on my team.
I have a team of 10 and you
327
00:17:12,560 --> 00:17:15,560
know, one of them is all about
off market stuff and he's
328
00:17:15,560 --> 00:17:19,920
calling and he's calling and I
see like this other agent who
329
00:17:20,119 --> 00:17:23,920
gets the off market but knows
how to handle the objection and
330
00:17:23,920 --> 00:17:26,720
then presents, you know, on
market, off market, something
331
00:17:26,720 --> 00:17:30,120
that just just came off market
and represented right even
332
00:17:30,120 --> 00:17:31,200
through the same broker.
Whatever.
333
00:17:31,200 --> 00:17:32,960
I don't need you need to call
the it's fine.
334
00:17:33,240 --> 00:17:35,960
And then all of a sudden that
person's doing 3 or 6 deals with
335
00:17:35,960 --> 00:17:39,480
this guy's just like banging the
phones first a block on in the
336
00:17:39,480 --> 00:17:43,440
West Village.
And I'm like, you know, if I'm,
337
00:17:43,520 --> 00:17:47,360
if I'm a buyer, I want off
market deals in the most coveted
338
00:17:47,360 --> 00:17:50,320
neighborhood in the world too
out of 50% discount.
339
00:17:50,520 --> 00:17:53,840
Why are you running around?
Do it like logic.
340
00:17:53,840 --> 00:17:55,960
You know, you're looking for a
needle in a haystack.
341
00:17:56,160 --> 00:17:58,960
And if you just worked a little
smarter and handled the
342
00:17:58,960 --> 00:18:02,320
objectives of your buyer, you
could be a lot more successful
343
00:18:02,320 --> 00:18:04,080
and your buyer could buy a lot
more too.
344
00:18:04,320 --> 00:18:06,960
So it's just about learning by
experience and getting better
345
00:18:06,960 --> 00:18:09,360
and better with handling those
objections and then coming up
346
00:18:09,360 --> 00:18:11,480
with solutions.
You know, that's the one thing
347
00:18:11,480 --> 00:18:14,440
that Ryan Sirhan has taught me
is like, you don't go into a
348
00:18:14,440 --> 00:18:18,120
meeting without 10 ideas.
Like you need to have a new idea
349
00:18:18,120 --> 00:18:21,040
for that same pitch the next
day, 10 new ones in case they
350
00:18:21,040 --> 00:18:23,960
call you back and ask for, you
know, we just OK, boom.
351
00:18:23,960 --> 00:18:25,520
What about this?
What about this?
352
00:18:25,640 --> 00:18:27,840
Because at least it shows that
you're thinking.
353
00:18:28,200 --> 00:18:31,680
And, you know, a lot of people
just listen to their clients.
354
00:18:32,080 --> 00:18:35,000
Oh, this is what they want.
And then they just try and do
355
00:18:35,000 --> 00:18:37,520
it.
But you also have to use the the
356
00:18:37,520 --> 00:18:40,720
fact that you're the ex.
Listen, I know you do finance.
357
00:18:40,840 --> 00:18:43,800
I know you do XY and Z.
I've been doing this for almost
358
00:18:43,800 --> 00:18:46,280
2 decades, OK?
That's why you're talking to me.
359
00:18:46,760 --> 00:18:48,160
You're not, you know, I'm not a
new.
360
00:18:48,160 --> 00:18:49,440
You're right.
You're talking to me because I'm
361
00:18:49,440 --> 00:18:51,520
the expert.
And as the expert, it's hard to
362
00:18:51,520 --> 00:18:53,480
say this.
It's hard to say what I'm
363
00:18:53,480 --> 00:18:55,600
saying.
And as the expert, this is how
364
00:18:55,600 --> 00:18:57,600
we're going to approach or
tackle this issue.
365
00:18:58,280 --> 00:19:00,640
I'll get back to you.
I'm on it and I'll and I'll show
366
00:19:00,640 --> 00:19:01,480
you how I work.
Ready.
367
00:19:01,480 --> 00:19:04,120
Let's go and hang up the phone.
I don't need to talk.
368
00:19:04,120 --> 00:19:10,280
OK, Now hunt.
No, it's interesting how even in
369
00:19:10,280 --> 00:19:14,360
the biggest market like New
York, it applies everywhere.
370
00:19:15,560 --> 00:19:19,520
So the fundamentals, right, the
nuances it's like you said are
371
00:19:19,520 --> 00:19:22,240
different, but the fundamentals
remain the same.
372
00:19:22,560 --> 00:19:24,680
So.
And then people ask me all the
373
00:19:24,680 --> 00:19:27,440
time, you know, what's the best
advice on negotiation?
374
00:19:27,440 --> 00:19:29,400
Well, how do you become a new
agent?
375
00:19:29,960 --> 00:19:32,760
And I'm like, same thing.
It's just like the fundamentals,
376
00:19:32,960 --> 00:19:35,880
you know, if you see a new piece
of property every day, in my
377
00:19:35,880 --> 00:19:39,920
opinion, over almost 19 years in
the business now, you know how
378
00:19:39,920 --> 00:19:42,120
many properties I've seen
because I see one piece of
379
00:19:42,120 --> 00:19:45,440
property every day.
But like it looks silly at the
380
00:19:45,440 --> 00:19:48,800
beginning one piece.
But after a decade, I'm like, I
381
00:19:48,800 --> 00:19:53,800
have an encyclopedic knowledge
of every building, who the owner
382
00:19:53,800 --> 00:19:55,040
is.
Is it a condo?
383
00:19:55,040 --> 00:19:57,120
Is it 25 feet?
Is it 50 feet?
384
00:19:57,120 --> 00:19:59,160
Is it on a corner?
Does it have retail?
385
00:19:59,280 --> 00:20:01,600
Is it developable?
Is there air rights available?
386
00:20:01,800 --> 00:20:04,800
And all these views, is the view
going to potentially be
387
00:20:04,800 --> 00:20:07,600
obstructed lot line windows like
so many different things.
388
00:20:07,960 --> 00:20:10,480
And that just comes from getting
out there.
389
00:20:10,800 --> 00:20:13,600
And that's nothing special.
I'm not a, there's nothing
390
00:20:13,600 --> 00:20:16,080
special about that.
It's just getting out there.
391
00:20:16,080 --> 00:20:20,480
So if you could get up and get
out every day, even if it's just
392
00:20:20,480 --> 00:20:23,800
a broker's open house or just an
open house or just a preview,
393
00:20:24,440 --> 00:20:26,600
you know, call someone up, hey,
I might have somebody.
394
00:20:26,600 --> 00:20:27,920
I just want to get in real
quick.
395
00:20:28,160 --> 00:20:30,640
Do that every day, go to the
open, right?
396
00:20:30,800 --> 00:20:33,200
You do that.
I guarantee in six months you're
397
00:20:33,200 --> 00:20:35,320
going to, when the client calls,
you're going to know more than
398
00:20:35,320 --> 00:20:37,400
the client.
Because right now, without going
399
00:20:37,400 --> 00:20:39,600
to those properties, they're
like, well, what about Eddie
400
00:20:39,600 --> 00:20:42,360
Clarkson?
And you're like, well, no, I can
401
00:20:42,360 --> 00:20:45,440
tell you exactly about educated
Clarkson, 2 towers West Village
402
00:20:45,800 --> 00:20:49,560
built by the 2nd dwarfs, right?
And then all of a sudden they,
403
00:20:49,640 --> 00:20:50,960
they're like, wow, this guy
knows.
404
00:20:51,000 --> 00:20:56,520
And that nuance creates trust.
And that trust is how you build
405
00:20:56,520 --> 00:21:00,000
the business.
Well, that's a mic drop that'll
406
00:21:00,000 --> 00:21:06,520
work for a great clip.
No, I think I've noticed there's
407
00:21:06,520 --> 00:21:09,680
like an unlock after you do
something for so long.
408
00:21:09,680 --> 00:21:11,480
The same thing in the same
place.
409
00:21:11,480 --> 00:21:14,240
Like my specialty is warehousing
in Colorado.
410
00:21:14,520 --> 00:21:16,960
So it's all I know.
Live, breathe.
411
00:21:16,960 --> 00:21:19,120
I feel like the buildings are
like people.
412
00:21:19,200 --> 00:21:21,640
I know them.
It's like you're saying, and
413
00:21:22,240 --> 00:21:25,000
it's like playing a video game
after like 10 years of doing
414
00:21:25,000 --> 00:21:27,640
something professionally full
time where you level up and
415
00:21:27,640 --> 00:21:29,920
you're like, holy shit, like
let's go.
416
00:21:29,920 --> 00:21:32,720
Like I'm just getting started.
We're young.
417
00:21:33,160 --> 00:21:36,120
We have, you know, we're, we
like to work hard.
418
00:21:36,120 --> 00:21:39,560
We love what we do.
It's a really advantageous place
419
00:21:39,560 --> 00:21:40,840
to be.
And we happen to do it in the
420
00:21:40,840 --> 00:21:43,840
best country in the entire
world, so hell yeah.
421
00:21:44,440 --> 00:21:46,680
And we like media.
You know, it's all about the
422
00:21:46,680 --> 00:21:50,120
media in my opinion too,
because, you know, I work with
423
00:21:50,120 --> 00:21:55,320
Ryan Sirhan and Ryan is, he's a
master at the media.
424
00:21:55,400 --> 00:21:58,920
And you know, I learned so much.
So it's like everything you just
425
00:21:58,920 --> 00:22:01,400
talked about, the compounding
that, you know, the sticking in
426
00:22:01,400 --> 00:22:03,600
the business and all that stuff
is important.
427
00:22:04,080 --> 00:22:06,360
But what you're doing that's
unique is that you're out here
428
00:22:06,360 --> 00:22:09,800
and you're doing podcasts and
you're on X giving it every
429
00:22:09,800 --> 00:22:12,440
single day.
And just like real estate,
430
00:22:12,440 --> 00:22:15,080
getting out there and seeing at
one piece of real estate every
431
00:22:15,080 --> 00:22:19,080
day, the fundamentals here are
posting on X every day and then
432
00:22:19,080 --> 00:22:22,000
getting a podcast with this
person and then setting that up
433
00:22:22,000 --> 00:22:24,320
and scheduling and do it right.
And those are fundamental.
434
00:22:24,320 --> 00:22:25,920
We're not, we're talking about
scheduling.
435
00:22:25,920 --> 00:22:29,000
We're talking about opening up
an app in your phone and just
436
00:22:29,000 --> 00:22:32,000
hitting a couple buttons and
saying what you feel about how
437
00:22:32,000 --> 00:22:34,600
you're experiencing your real
estate market or your or the
438
00:22:34,600 --> 00:22:36,920
client.
And that is the same thing in
439
00:22:36,920 --> 00:22:40,280
parallel to to going and seeing
all of those pieces of real
440
00:22:40,280 --> 00:22:42,480
estate and you're doing a great
job.
441
00:22:42,480 --> 00:22:45,000
I just want to take a moment and
and give you a hats off because
442
00:22:45,280 --> 00:22:48,280
you know, I'm out here and I see
you and I don't know anything
443
00:22:48,280 --> 00:22:50,840
about warehousing in Denver, but
I'm interested.
444
00:22:51,400 --> 00:22:54,680
So that's incredible, right?
I'm you know, I'm in New York,
445
00:22:54,680 --> 00:22:56,920
you know, I'm big, you know,
doing a lot of deals in New
446
00:22:56,920 --> 00:22:59,400
York, but I'm like watching your
account like, oh, wow, very
447
00:22:59,400 --> 00:23:00,920
interesting.
I love what she's doing.
448
00:23:01,080 --> 00:23:03,280
I love your perspective on that.
Watch that podcast.
449
00:23:03,280 --> 00:23:05,680
Super cool.
So what I think is the is the
450
00:23:05,680 --> 00:23:08,760
best is everything that you just
said with like the media
451
00:23:08,760 --> 00:23:12,040
sprinkled all on top of it.
And if you do that, it's like.
452
00:23:13,600 --> 00:23:14,680
Game over.
Oh yeah.
453
00:23:14,680 --> 00:23:17,600
I mean when the silver tsunami
hits.
454
00:23:18,280 --> 00:23:22,680
And our parents and grandparents
and the baby boomer generation
455
00:23:22,760 --> 00:23:25,120
retires.
It's over, but it's already
456
00:23:25,120 --> 00:23:29,080
over.
So no, it's, you know, I, I
457
00:23:29,080 --> 00:23:32,920
appreciate the kind words you
said in season 2 of owning
458
00:23:32,920 --> 00:23:36,760
Manhattan.
I think his name is Dan, the new
459
00:23:36,760 --> 00:23:38,640
guy.
You said we're selling
460
00:23:38,680 --> 00:23:43,000
enthusiasm.
And now just talking to you,
461
00:23:43,640 --> 00:23:46,680
it's obviously just it's real.
Like that's real.
462
00:23:46,680 --> 00:23:51,000
That's actually what you feel.
And now just having this time
463
00:23:51,000 --> 00:23:54,840
with you, I mean, I don't think
anybody could listen to this
464
00:23:54,840 --> 00:23:58,920
podcast and think otherwise.
So it's cool to see that.
465
00:23:58,920 --> 00:24:02,040
And and when you said that it
was like an unlock, like, holy
466
00:24:02,040 --> 00:24:05,800
shit, he's right.
Like we are selling, being
467
00:24:05,800 --> 00:24:09,040
enthusiastic or not.
It's like you said, being able
468
00:24:09,040 --> 00:24:11,520
to tell your client this isn't
it?
469
00:24:11,560 --> 00:24:13,640
Like we talked about what it
was.
470
00:24:13,960 --> 00:24:17,880
So like I said, back to the
authenticity piece, people can
471
00:24:17,880 --> 00:24:21,800
smell that shit out, but whether
it's on this screen, whether
472
00:24:21,800 --> 00:24:24,840
it's on Netflix, it doesn't
matter.
473
00:24:24,920 --> 00:24:27,400
Real is real and and I feel it
with you.
474
00:24:27,400 --> 00:24:30,720
So it's dope to like have this
conversation and and get there
475
00:24:30,720 --> 00:24:32,480
with you.
Absolutely.
476
00:24:33,120 --> 00:24:35,880
OK, let me get before I let you
go.
477
00:24:36,400 --> 00:24:40,360
What is 1 New York real estate
myth you'd kill forever?
478
00:24:40,960 --> 00:24:46,640
One New York City real estate
myth that I would kill forever
479
00:24:48,360 --> 00:24:53,000
probably you know, on the rental
side because it's if you look at
480
00:24:53,000 --> 00:24:57,440
the housing stock of New York,
75% of it is for rent.
481
00:24:57,680 --> 00:25:02,320
So there's 25 is for sale and
out of the 25% is the 75% Co-op
482
00:25:02,320 --> 00:25:06,520
right?
So New York is a rental city.
483
00:25:06,680 --> 00:25:08,840
Most people rent.
I started my career doing
484
00:25:08,840 --> 00:25:14,120
hundreds of rentals.
It's crazy, but what most people
485
00:25:14,120 --> 00:25:16,520
think is that they can get a
better deal without using an
486
00:25:16,520 --> 00:25:19,320
agent.
And I don't know where people
487
00:25:19,320 --> 00:25:21,960
are from, but if you're from
Minnesota, I'm sure you could go
488
00:25:21,960 --> 00:25:23,920
on the Internet and have a
pretty decent time.
489
00:25:26,080 --> 00:25:28,920
But in New York it's a lot
different.
490
00:25:28,920 --> 00:25:31,400
The competition, you remember,
there's seven applications on
491
00:25:31,400 --> 00:25:34,880
one apartment.
And if I am working with you and
492
00:25:34,880 --> 00:25:37,320
I, because I've been doing this
forever, just have a
493
00:25:37,320 --> 00:25:42,520
relationship with John Broker,
then I'm like John, you know,
494
00:25:42,680 --> 00:25:46,040
and then John and I, you know,
and that's how you do the deal.
495
00:25:46,280 --> 00:25:47,960
And a lot of times it's
relationships.
496
00:25:48,160 --> 00:25:51,040
So, you know, we do a lot of
deals like that, but it's always
497
00:25:51,040 --> 00:25:53,000
people saying, oh, I don't want
to work with a broker.
498
00:25:53,000 --> 00:25:54,480
I'm trying to save some money,
OK.
499
00:25:54,680 --> 00:25:56,760
And then they call back and
they're like, man, I got
500
00:25:56,760 --> 00:25:59,080
destroyed.
This guy over here tried taking
501
00:25:59,080 --> 00:26:01,160
my money and I almost got
scammed on the corner.
502
00:26:01,160 --> 00:26:05,480
I'm like, right, right.
That's what I'm saying.
503
00:26:05,480 --> 00:26:08,600
So you know it, you know,
sometimes it might be expensive,
504
00:26:08,600 --> 00:26:12,520
but I think overall it's totally
worth it and it makes your life
505
00:26:12,520 --> 00:26:14,640
a lot easier, especially if
you're just coming to the city
506
00:26:14,640 --> 00:26:16,120
new.
It's such a big city.
507
00:26:16,120 --> 00:26:18,760
There's so much to know.
Is this neighborhood good?
508
00:26:18,760 --> 00:26:21,360
Where's the subway here?
Like to have somebody just, you
509
00:26:21,360 --> 00:26:24,080
know, guide you, walk you
through everything, make sure
510
00:26:24,080 --> 00:26:26,880
you're comfortable.
You know, the extra month you're
511
00:26:26,880 --> 00:26:28,560
paying, it's not it's not going
to kill you.
512
00:26:28,720 --> 00:26:31,600
You're making the move anyway.
So just it's always best to have
513
00:26:31,600 --> 00:26:33,400
somebody in your corner to be
your advisor.
514
00:26:33,400 --> 00:26:34,880
I think that's one of the
biggest myths.
515
00:26:34,880 --> 00:26:36,720
People like, oh, I could do it.
I'm like, all right.
516
00:26:36,720 --> 00:26:38,920
And I always say, good, you let
me know how it goes.
517
00:26:39,360 --> 00:26:43,360
Like 48 hours later, they're
like, hey, I'm like, yeah, it's
518
00:26:43,360 --> 00:26:46,160
OK, you tried.
You're like, that was quick, but
519
00:26:46,160 --> 00:26:48,440
you know, yeah.
OK.
520
00:26:48,440 --> 00:26:52,200
Niall, before I let you go, last
question, what is your real
521
00:26:52,200 --> 00:26:56,600
estate secret?
That's a good one.
522
00:26:56,640 --> 00:27:00,800
My real estate secret is the
system is always the solution.
523
00:27:01,520 --> 00:27:05,200
So I have, I have about 30
active listings right now.
524
00:27:05,320 --> 00:27:08,480
I have a team of 10 different
agents between New York City and
525
00:27:08,480 --> 00:27:11,840
the South Florida market.
The only way that I would be
526
00:27:11,840 --> 00:27:15,680
able to do that is if I had
very, very dialed in systems.
527
00:27:15,760 --> 00:27:17,320
Doesn't have to be super
complex.
528
00:27:17,440 --> 00:27:20,600
For a lot of it, I just use
Excel spreadsheets, but I had
529
00:27:20,640 --> 00:27:23,680
every deal, every situation
logged.
530
00:27:24,000 --> 00:27:26,680
Every time a deal comes in, it
gets its new folder.
531
00:27:26,680 --> 00:27:28,520
I have a visit tracker for
everything.
532
00:27:29,320 --> 00:27:31,640
We just mirror, we mirror
everything.
533
00:27:31,640 --> 00:27:35,440
So like if we have marketing,
we'll just copy it to the next
534
00:27:35,440 --> 00:27:37,120
project and then we just follow
it.
535
00:27:37,360 --> 00:27:39,960
So once you post it here, you
post it here, then you go send
536
00:27:39,960 --> 00:27:42,480
out the e-mail update.
Then you do this, then you ask
537
00:27:42,480 --> 00:27:44,840
for brokers open house.
Then to confirm the brokers open
538
00:27:44,840 --> 00:27:47,720
house, you send this form
template to the title insurance
539
00:27:47,720 --> 00:27:50,400
guy who's then going to do the,
you know, the catering and and
540
00:27:50,800 --> 00:27:54,120
then the photographer.
And then there's just every no
541
00:27:54,120 --> 00:27:57,440
thinking.
We've made it so dialed in that
542
00:27:57,440 --> 00:28:01,280
you do not have to think.
If I had to think and make it up
543
00:28:01,840 --> 00:28:06,920
for 30 different listings, I
would literally lose my mind and
544
00:28:06,920 --> 00:28:08,680
jump off the Brooklyn Bridge,
right?
545
00:28:08,840 --> 00:28:13,200
But because I have a system and
I know how to do it, I teach my
546
00:28:13,200 --> 00:28:16,720
whole team to operate within the
system that gives me visibility.
547
00:28:16,960 --> 00:28:19,720
I have different people,
assistants, managers, right,
548
00:28:20,320 --> 00:28:22,600
marketing managers, and then
they all communicate.
549
00:28:22,600 --> 00:28:24,640
We use Slack, we have team
meetings.
550
00:28:24,960 --> 00:28:28,920
And that allows us to
exponentially scale, right?
551
00:28:28,920 --> 00:28:32,240
Versus me just running around
doing 3 listings like a chick
552
00:28:32,240 --> 00:28:35,840
with my head cut off, right?
And like, Nah, give me 10 more
553
00:28:36,040 --> 00:28:38,520
because we have the system and
everybody knows the system
554
00:28:38,680 --> 00:28:41,440
because I've been training them.
So it's becoming more and more
555
00:28:41,440 --> 00:28:44,320
real that we're able to scale at
a large scale.
556
00:28:44,640 --> 00:28:48,280
And yeah, I think 2026 is going
to be gangbusters.
557
00:28:48,280 --> 00:28:51,800
I'm I'm not going to lie.
I have no doubt it is.
558
00:28:52,120 --> 00:28:55,080
When you're ready to expand to
Colorado, call me.
559
00:28:55,840 --> 00:29:00,480
And no, Congrats on all your
successes.
560
00:29:00,480 --> 00:29:02,400
It's well deserved.
Thank you.
561
00:29:02,960 --> 00:29:06,680
I love watching you, like I
said, on social and on the big
562
00:29:06,680 --> 00:29:09,080
screen, and I appreciate your
time today.
563
00:29:09,560 --> 00:29:14,000
So for everybody listening,
Niles Lundrett.
564
00:29:14,680 --> 00:29:19,200
I I'm Lundgren Lundgren
Lundgren, yes.
565
00:29:19,760 --> 00:29:21,960
Sorry, I should have.
I should have got that in the
566
00:29:21,960 --> 00:29:22,840
1st place.
That's OK.
567
00:29:23,080 --> 00:29:26,600
Niall Lundr.
Lundr out of New York City, give
568
00:29:26,600 --> 00:29:29,720
him a call for your next
acquisition and we'll see you
569
00:29:29,720 --> 00:29:35,360
next week.
That's a wrap for this week on
570
00:29:35,360 --> 00:29:39,280
commercial real estate secrets.
If you found value, do us a
571
00:29:39,280 --> 00:29:43,080
favor and subscribe.
Leave a review and share it with
572
00:29:43,080 --> 00:29:45,480
a fellow commercial real estate
lover.
573
00:29:46,160 --> 00:29:48,680
For brokerage services or to
connect, visit
574
00:29:48,680 --> 00:29:51,360
warehousehotline.com.
I'm Aviva.
575
00:29:51,760 --> 00:29:53,000
We'll see you next week.
00:00:03,000 --> 00:00:07,080
Today on Commercial Real Estate
Secrets, we have Niall.
2
00:00:07,480 --> 00:00:12,200
Niall is one of the stars of
Owning Manhattan Season 1 and 2,
3
00:00:12,200 --> 00:00:14,400
which just dropped about a week
ago.
4
00:00:14,400 --> 00:00:17,040
Niall, thank you for being on
the show today.
5
00:00:17,920 --> 00:00:19,600
Thank you so much for having me
Aviva.
6
00:00:19,600 --> 00:00:21,560
I really appreciate it.
Of course.
7
00:00:21,560 --> 00:00:28,160
So you are the star of the
biggest New York City real
8
00:00:28,160 --> 00:00:30,400
estate show of all time.
How did we get here?
9
00:00:31,640 --> 00:00:34,600
It was a, it was a long journey.
I've been in real estate for 19
10
00:00:34,600 --> 00:00:36,920
years.
So I'm not like one of these
11
00:00:36,920 --> 00:00:40,600
actors that does real estate.
I'm a real estate guy through
12
00:00:40,600 --> 00:00:42,200
and through.
So got in the business when I
13
00:00:42,200 --> 00:00:45,040
was 23 years old.
I worked for a landlord.
14
00:00:45,240 --> 00:00:48,280
I started doing, you know,
basement rental apartments for
15
00:00:48,280 --> 00:00:51,640
$600 a month and, you know,
worked my way up.
16
00:00:51,840 --> 00:00:54,880
Decided to get my license and it
wasn't even licensed at the
17
00:00:54,880 --> 00:00:58,000
beginning.
And then I, I worked at a, a
18
00:00:58,000 --> 00:01:01,760
rental firm in the city, did
rentals there, quit, worked in
19
00:01:01,760 --> 00:01:05,600
commercial real estate.
Did that for about 2 1/2 years.
20
00:01:05,880 --> 00:01:08,640
Bang the phones made 300 dials a
day.
21
00:01:08,920 --> 00:01:13,000
Everything went, went pretty
terribly because I, I had lost,
22
00:01:13,920 --> 00:01:16,320
I lost all my money.
I mean, it was just so hard.
23
00:01:16,320 --> 00:01:19,840
I had built up like a bit of a
nest and then it all kind of
24
00:01:19,840 --> 00:01:22,760
went down And I, I learned how
to really, you know, make an
25
00:01:22,760 --> 00:01:26,800
impact on phone calls.
And then I joined, I've started
26
00:01:26,800 --> 00:01:29,120
my own company.
I joined Compass, I worked there
27
00:01:29,120 --> 00:01:31,680
for seven years.
And then when Ryan started his
28
00:01:31,680 --> 00:01:34,320
company, it was kind of a no
brainer for me to get in and,
29
00:01:34,640 --> 00:01:36,600
you know, be one of the founding
agents there.
30
00:01:36,600 --> 00:01:39,760
And I was agent #10 and you
know, rest is history.
31
00:01:40,880 --> 00:01:46,280
How does Someone Like You get
clients in such a competitive
32
00:01:46,280 --> 00:01:50,440
market even before you were a
star of ATV show?
33
00:01:51,320 --> 00:01:54,120
Yeah, great question.
I mean, now it's, it's still
34
00:01:54,120 --> 00:01:56,000
challenging.
You know, we are in a sea of
35
00:01:56,000 --> 00:01:58,440
agents here.
There's over 100,000 licensed
36
00:01:58,440 --> 00:02:00,680
real estate agents in New York
City alone.
37
00:02:00,920 --> 00:02:05,360
So the competition is stiff.
I'd say just just from, I'll
38
00:02:05,600 --> 00:02:08,759
give you one example.
You know, I have couple major
39
00:02:08,759 --> 00:02:13,360
relationships that I was able to
bridge over my before I was on a
40
00:02:13,360 --> 00:02:16,200
television show, right?
And one of the first ones I ever
41
00:02:16,200 --> 00:02:20,360
bridged was a gentleman who I
knew his family was a big real
42
00:02:20,360 --> 00:02:23,120
estate family.
And, you know, there was a
43
00:02:23,120 --> 00:02:24,920
charity event that they hosted
every year.
44
00:02:25,120 --> 00:02:28,760
And I didn't have any money in
the, the charity was about $500
45
00:02:28,760 --> 00:02:30,840
to go.
And my friend was like, you got
46
00:02:30,840 --> 00:02:32,960
to go to it.
So I put it on a credit card.
47
00:02:33,240 --> 00:02:37,520
And I met this this one person.
And then I waited a year and I
48
00:02:37,520 --> 00:02:40,120
went back to the same event.
OK.
49
00:02:40,360 --> 00:02:44,640
And this time I helped him break
down, you know, and like usher
50
00:02:44,640 --> 00:02:47,320
people out and clean the place
up and do that kind of stuff.
51
00:02:47,320 --> 00:02:50,920
And then because of that, they
invited me to their house and
52
00:02:50,920 --> 00:02:53,560
then I met all their friends and
then I became his friend.
53
00:02:53,880 --> 00:02:57,440
And that was one of my first and
biggest books of business that I
54
00:02:57,440 --> 00:02:58,760
got.
And I, you know, I'm
55
00:02:58,760 --> 00:03:02,240
consistently working with him
and his family to this day.
56
00:03:02,240 --> 00:03:04,840
So that's just one example.
But it's about putting yourself
57
00:03:04,840 --> 00:03:07,800
in the right positions, getting
in the right rooms, even if you
58
00:03:07,800 --> 00:03:10,920
don't have the money, even if
you don't believe in yourself,
59
00:03:10,920 --> 00:03:13,480
you don't have the resources or
capital, you know, it's about
60
00:03:13,480 --> 00:03:16,440
just being there and meeting
somebody because maybe in a year
61
00:03:16,720 --> 00:03:19,240
you'll meet them again.
So it's just about playing the
62
00:03:19,240 --> 00:03:21,000
long game.
I never have been in this
63
00:03:21,000 --> 00:03:24,320
business just to, you know,
sell, sell somebody a thing and
64
00:03:24,320 --> 00:03:27,160
make a Commission.
Like if it's not right for you,
65
00:03:27,640 --> 00:03:30,120
that's OK.
Like we're I don't care about
66
00:03:30,120 --> 00:03:32,280
you.
And if you care about the people
67
00:03:32,280 --> 00:03:35,160
that you meet and you care about
their best interests, they'll
68
00:03:35,160 --> 00:03:37,280
give you referrals and you'll
build a really solid book of
69
00:03:37,280 --> 00:03:40,760
business like I did.
I heard somebody say recently
70
00:03:41,640 --> 00:03:46,400
people overestimate what you can
do in a year and underestimate
71
00:03:46,400 --> 00:03:49,920
what you can do in 10 years.
And it's so interesting.
72
00:03:49,920 --> 00:03:53,600
You know, you talk about being
in the business for almost a
73
00:03:53,600 --> 00:03:58,640
couple decades now and it's just
such an interesting aspect where
74
00:03:58,800 --> 00:04:00,840
it's like you like this is the
long game.
75
00:04:00,840 --> 00:04:05,640
This is not like I always say I
work today to make money in
76
00:04:05,640 --> 00:04:07,640
three years, five years and 10
years.
77
00:04:08,200 --> 00:04:13,320
And for most people, that's
really hard to digest and pallet
78
00:04:13,320 --> 00:04:17,920
and but if you can do that and
strategically network like you
79
00:04:17,920 --> 00:04:22,079
have, it can pay dividends.
And and if you like it, right,
80
00:04:22,079 --> 00:04:24,840
like there's also this element
of authenticity.
81
00:04:24,960 --> 00:04:27,480
You don't like what you do.
It's so obvious.
82
00:04:27,680 --> 00:04:31,000
Yeah, so you.
See my face, I'm having, you
83
00:04:31,000 --> 00:04:33,440
know, everything you're saying
I'm eating up, you know, because
84
00:04:33,440 --> 00:04:35,040
I believe in the same
philosophy.
85
00:04:35,320 --> 00:04:38,640
And you know, I love what I do.
You know, I love, I love looking
86
00:04:38,640 --> 00:04:40,280
out for for people's best
interests.
87
00:04:40,280 --> 00:04:44,920
And you know, it's my favorite
thing is, you know, even if I, I
88
00:04:44,920 --> 00:04:48,360
think that they want it, but I
don't think that, you know, the
89
00:04:48,360 --> 00:04:50,640
three reasons that they said
that they wanted to buy in the
90
00:04:50,640 --> 00:04:53,440
1st place are all ticked.
Maybe two of them, You know,
91
00:04:53,480 --> 00:04:55,840
I'll even tell them, hey, happy
to make an offer.
92
00:04:55,840 --> 00:04:58,880
But at the beginning you told me
these three things and this
93
00:04:58,880 --> 00:05:01,920
property only ticks off 2.
Are you still OK with that?
94
00:05:01,920 --> 00:05:05,440
Like, I don't even, I don't, I'm
not trying to push it is the
95
00:05:05,440 --> 00:05:07,600
point.
And if you, and if you can learn
96
00:05:07,600 --> 00:05:12,320
that skill, you know, you, you,
it's like doing the work now,
97
00:05:12,360 --> 00:05:14,640
planting the seeds and then
you're sowing later.
98
00:05:14,840 --> 00:05:17,560
So it's like you constantly have
to be planting.
99
00:05:17,920 --> 00:05:19,840
So you get in the business and
you have to plant, plant, plant,
100
00:05:19,840 --> 00:05:22,560
plant, plant.
And then eventually there's like
101
00:05:22,560 --> 00:05:24,720
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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00:05:27,560 --> 00:05:31,920
me in in particular, I hit a, a
point where it was like, go, go,
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00:05:31,920 --> 00:05:33,480
go.
And then there's like an
105
00:05:33,480 --> 00:05:37,640
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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00:05:42,160 --> 00:05:45,480
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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00:05:57,680 --> 00:06:00,720
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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00:06:05,040 --> 00:06:07,640
know, and doing all those things
that not everybody wants to do.
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00:06:07,640 --> 00:06:10,080
They want to say, they say, oh,
it's this is nice, you should
117
00:06:10,080 --> 00:06:12,120
buy it.
I'm like, no, here's why you
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00:06:12,120 --> 00:06:14,040
should buy it.
You know, and you talk about the
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00:06:14,040 --> 00:06:17,640
cap rate value add, can you add
major capital improvements?
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00:06:17,800 --> 00:06:19,800
You know, there's so many
different things that can come
121
00:06:19,800 --> 00:06:21,720
into it.
And if you become a student of
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the game, and this is what, you
know, Don Tettman, who's the
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00:06:24,680 --> 00:06:28,520
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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00:06:35,360 --> 00:06:38,480
And like, you know, when you get
to that level, you know, you're
127
00:06:38,480 --> 00:06:41,040
not really working, You know,
you're just having a good time
128
00:06:41,040 --> 00:06:43,640
and you, you're an expert in
your field and you understand
129
00:06:43,640 --> 00:06:45,280
it.
And because you understand it,
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00:06:45,280 --> 00:06:49,720
you could expertly guide your
clients in the right direction.
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00:06:49,720 --> 00:06:52,480
And if you do that long enough,
then you get referrals and you
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00:06:52,480 --> 00:06:55,320
know, it compounds.
So it's just about starting and
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making sure that you're
conscious every day to be
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planting those seeds, just like
you said, Aviva.
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00:07:00,200 --> 00:07:04,040
Shout out to Don.
You know, we've all been in the
136
00:07:04,440 --> 00:07:07,440
trenches together literally for
decades.
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00:07:07,440 --> 00:07:10,440
And everybody's seeing success
in different ways.
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00:07:10,440 --> 00:07:14,200
And it's so well deserved.
Something I think that's
139
00:07:14,200 --> 00:07:17,800
interesting about the New York
City market is these
140
00:07:17,800 --> 00:07:22,000
fluctuations happen, be it COVID
or the economy.
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00:07:22,240 --> 00:07:25,680
And then you see on the media,
you know, New York City, it's
142
00:07:25,680 --> 00:07:27,800
over.
This is this happens every time.
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00:07:27,800 --> 00:07:30,920
I feel, you know, New York
City's going down, everybody's
144
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leaving, and then it always
seems to come back.
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00:07:35,080 --> 00:07:38,360
Why do you think that is?
And what do you see for New York
146
00:07:38,360 --> 00:07:43,120
City real estate in 2026?
Clickbait, they're they're
147
00:07:43,120 --> 00:07:46,680
literally doing it for clickbait
and it, you know, I'll be
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00:07:46,680 --> 00:07:51,280
honest, I was here during COVID
and the crazy thing is everybody
149
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left.
But what was even crazier is
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that as those people left, a
whole new wave of people just it
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was like this.
So they just came right back and
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00:08:02,560 --> 00:08:04,200
you know, everybody wants to be
in New York.
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00:08:04,200 --> 00:08:06,640
I, I met, I was at the Sir
Hannah house last night.
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00:08:06,840 --> 00:08:09,840
We did a live event where we met
people from around the world who
155
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came and people from Bangladesh,
all these people, they know, you
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00:08:15,000 --> 00:08:18,680
know what we're doing.
It's pretty crazy to kind of
157
00:08:18,680 --> 00:08:22,960
see, to be honest.
But but what was the other thing
158
00:08:22,960 --> 00:08:24,240
that you were saying?
There's two-part question.
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00:08:24,240 --> 00:08:25,720
What was the other part I was
going to answer?
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00:08:26,320 --> 00:08:31,640
2026 Predictions for. 2026 SO
oh, and those people from
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Bangladesh, by the way, all they
want to do is come to New York.
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00:08:34,240 --> 00:08:36,919
They're like, it's the dream.
So it's the global dream to be
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00:08:36,919 --> 00:08:39,240
in New York.
So it's not going anywhere.
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00:08:39,240 --> 00:08:41,520
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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00:08:43,600 --> 00:08:44,960
involved and that's the
governor.
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00:08:45,200 --> 00:08:47,680
So I'm not that worried about a
lot.
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00:08:47,680 --> 00:08:51,560
And I, I thought my phones were
going to ring OK a lot more
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00:08:51,560 --> 00:08:55,120
because I do business in South
Florida as well, but they didn't
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00:08:55,600 --> 00:09:00,040
and it was quite surprising.
So in 2026, you know, I would
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00:09:00,040 --> 00:09:03,480
say we, we just had a, a rate
cut by the Federal Reserve,
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00:09:03,480 --> 00:09:06,960
which is very important for our
business, specifically your
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00:09:06,960 --> 00:09:09,400
business because I mean you're,
you're really hamstring.
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00:09:09,400 --> 00:09:12,600
But because it's just come down
to math, you know, it's numbers
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00:09:13,320 --> 00:09:15,600
and that really screws the
markets up a little bit.
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00:09:15,600 --> 00:09:18,920
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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00:09:21,320 --> 00:09:27,080
I do feel that there is a lot of
pent up buyer demand just
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00:09:27,080 --> 00:09:29,160
because rates have been high.
They've been living with their
180
00:09:29,160 --> 00:09:32,960
moms or dads or parents living
together in rental apartments
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00:09:32,960 --> 00:09:37,160
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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00:09:39,880 --> 00:09:41,960
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 using, you
know, the Fed just printing
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dollars into the economy,
stimulating it.
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00:10:00,480 --> 00:10:02,960
And you know, all that's great,
but you know, it just, it
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00:10:02,960 --> 00:10:06,320
inflates everything.
So is, you know, is the is
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00:10:06,320 --> 00:10:09,200
everything going up or is the
dollar being weakened?
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00:10:09,200 --> 00:10:12,240
You know, but either way, it's
going to be into an asset, you
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00:10:12,240 --> 00:10:16,720
know, now while that happens or
get into it at the end of 2025
194
00:10:16,720 --> 00:10:22,600
before the year even happens.
So what is the most miss
195
00:10:22,920 --> 00:10:26,880
understood thing about New York
City real estate from your
196
00:10:26,880 --> 00:10:31,280
experience?
That there's a tremendous amount
197
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of nuances, right?
This we're not dealing with
198
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single family homes.
We're not dealing with very
199
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basic scenarios.
You have townhouses, which are
200
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essentially single family homes.
That's real property and you
201
00:10:42,400 --> 00:10:46,560
have co-ops which are much
different than anything anything
202
00:10:46,560 --> 00:10:48,480
anywhere else in the world has
seen.
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00:10:48,480 --> 00:10:51,640
But basically you are not buying
the real property.
204
00:10:52,160 --> 00:10:55,960
The the building has become a
become a corporation and you're
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00:10:55,960 --> 00:10:58,880
buying the stock certificate
with a lease back.
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00:10:59,040 --> 00:11:02,080
So you buying, you're actually
buying shares that represent
207
00:11:02,600 --> 00:11:06,200
that property.
And 75% of the housing stock in
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00:11:06,200 --> 00:11:09,640
Manhattan is co-ops for sale,
sale sale housing stock.
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00:11:09,960 --> 00:11:14,240
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.
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00:11:16,920 --> 00:11:20,920
And all of these are governed by
different sets of rules and
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00:11:20,920 --> 00:11:23,760
regulations.
You know, somebody who calls me
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00:11:23,760 --> 00:11:25,720
from France like, oh, I want to
see this place.
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00:11:25,720 --> 00:11:28,280
I'm like, that sounds great.
But this building is a Co-op and
215
00:11:28,280 --> 00:11:30,840
part of their bylaws.
They don't accept
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00:11:30,840 --> 00:11:33,360
internationals, They don't
accept anyone who doesn't have a
217
00:11:33,440 --> 00:11:36,040
US passport or US job.
So you can't just buy it.
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00:11:36,200 --> 00:11:39,000
So a lot of times people like, I
just want to, I just want to buy
219
00:11:39,000 --> 00:11:41,440
this one.
I'm like, easy, it's not what
220
00:11:41,440 --> 00:11:44,120
you want to do.
It's, it's what the rules are.
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00:11:44,280 --> 00:11:47,080
And you have to play by the
rules and have all of your
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00:11:47,080 --> 00:11:49,200
boxes, you know, ticked to get
there.
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00:11:49,440 --> 00:11:52,080
So it's, it's complicated.
And you know, one of the things
224
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that we do is we demystify the
process here in New York City.
225
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We help give clarity to a lot of
those questions and we tell
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people, look, this is something
that based on your particular
227
00:12:03,040 --> 00:12:05,960
situation will not work.
However, here's three other
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ideas.
And I think that's the most
229
00:12:07,760 --> 00:12:10,960
important part to start out with
because a lot of people love,
230
00:12:11,040 --> 00:12:15,040
love and spend so much time on
these apartments that they just,
231
00:12:15,080 --> 00:12:17,120
if they actually worked as
somebody who knew what they were
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00:12:17,120 --> 00:12:19,200
talking about, there's just no
chance.
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00:12:19,200 --> 00:12:22,720
So don't even waste your time.
Let's go back over here, you
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00:12:22,720 --> 00:12:25,480
know.
But I'm sure you find that
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00:12:25,480 --> 00:12:29,200
sometimes if somewhere doesn't
allow someone, it probably makes
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them double down on the property
even more.
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00:12:33,560 --> 00:12:36,720
Yes, yes and no, but you know,
it's just, it's just about what
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00:12:36,720 --> 00:12:38,640
the facts are.
And if there's, you know, a
239
00:12:38,760 --> 00:12:42,760
document that says, hey, you
know, the it's it's, it's
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00:12:42,760 --> 00:12:44,840
offensive how much information
they ask for.
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00:12:44,840 --> 00:12:48,360
It's like 2 years tax return,
fill full bank statements, DNA
242
00:12:48,360 --> 00:12:51,960
test, 6 letters of reference
from everybody that you've ever
243
00:12:51,960 --> 00:12:54,480
met in your life.
You know, letters of employment,
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00:12:54,480 --> 00:12:58,200
CPA letters, you know, full
financial statements, assets,
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00:12:58,200 --> 00:13:01,200
liabilities and that people are
like what what is this?
246
00:13:01,520 --> 00:13:04,960
But the advantage to the co-ops,
the advantage is that when
247
00:13:04,960 --> 00:13:08,480
there's down markets, it's not
as bad because single family
248
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homes in the rest of America,
they might be putting down 3% in
249
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co-ops.
In New York City, the
250
00:13:14,320 --> 00:13:18,120
requirement is to put down
minimum 2530 all the way up to
251
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100%.
You can't even finance in some
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00:13:20,520 --> 00:13:22,120
of these buildings.
It just won't allow it.
253
00:13:22,120 --> 00:13:24,800
Yeah, that's the rule.
You buy cash or you don't buy.
254
00:13:25,000 --> 00:13:27,160
Is that crazy?
But the thing about it is that
255
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the reason why the co-ops can do
that is because it's not real
256
00:13:30,560 --> 00:13:31,720
property.
You're not.
257
00:13:31,760 --> 00:13:36,080
You're not buying, you know,
essentially A deed per SE.
258
00:13:36,320 --> 00:13:38,120
You're you're buying shares of a
corporation.
259
00:13:38,120 --> 00:13:41,840
So they don't have to operate by
by normal laws.
260
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They can discriminate.
They they didn't allow Madonna
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00:13:44,920 --> 00:13:49,080
to buy in a Co-op because it
would be too much attention to
262
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our building.
So let's just deny Ding.
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00:13:52,440 --> 00:13:55,040
It's like what there's, you
know, that should be in the
264
00:13:55,040 --> 00:13:58,000
seller in that situation.
They got somebody, Madonna's
265
00:13:58,000 --> 00:14:00,560
going to pay you $20 million,
Aviva and the building you live
266
00:14:00,560 --> 00:14:03,800
in is like, Nah, so much
paparazzi.
267
00:14:03,960 --> 00:14:07,080
We're going to deny that I would
be going crazy, but that's the
268
00:14:07,080 --> 00:14:09,360
reality of it.
But the advantage of it is when
269
00:14:09,360 --> 00:14:12,640
the market goes down, because
they put so much of a chunk of
270
00:14:12,680 --> 00:14:15,640
equity in, these people are not
frantic sellers.
271
00:14:15,960 --> 00:14:19,000
So that's why the New York City
market does not suffer when,
272
00:14:19,000 --> 00:14:22,480
when COVID happens and the
markets go down 20%, well,
273
00:14:22,480 --> 00:14:24,520
that's fine.
They've already put 50% of
274
00:14:24,520 --> 00:14:28,400
equity in, so they're not
underwater with their lenders,
275
00:14:28,560 --> 00:14:31,840
which is what it's like when you
finance 9597% of it.
276
00:14:32,040 --> 00:14:33,520
Like all of a sudden you're in
trouble.
277
00:14:34,280 --> 00:14:36,360
You know what I'm saying?
Oh my God, I got to unload this.
278
00:14:36,400 --> 00:14:38,200
Oh, I lost 50K Show what?
Sell it.
279
00:14:38,400 --> 00:14:40,800
And in co-ops, they hold on to
it.
280
00:14:41,080 --> 00:14:44,200
You know, you got to have big
reserves, you got to have post
281
00:14:44,320 --> 00:14:47,720
closing liquidity.
So that makes it much safer
282
00:14:47,840 --> 00:14:50,360
during these down terms,
especially if you live there.
283
00:14:50,440 --> 00:14:52,440
If you work in New York, you
live in New York.
284
00:14:53,160 --> 00:14:57,280
Great investment for a Co-op but
like on the international side
285
00:14:57,320 --> 00:14:59,200
it's it's more of a condo
situation.
286
00:14:59,960 --> 00:15:04,880
And Madonna should have called
you cuz you streamline this.
287
00:15:05,200 --> 00:15:08,040
But now she will.
She's gonna hear this podcast,
288
00:15:08,040 --> 00:15:09,360
then she's gonna call you.
So.
289
00:15:11,360 --> 00:15:15,680
OK, so tell me, what is one
thing buyers obsess over in New
290
00:15:15,680 --> 00:15:18,240
York City that they shouldn't be
obsessing over?
291
00:15:18,760 --> 00:15:23,280
Off market deals, I mean, Don
Don put out a message today.
292
00:15:23,600 --> 00:15:27,040
You know, most off market deals
are overpriced in trash.
293
00:15:27,400 --> 00:15:30,280
You know, people call me like I
only want off market.
294
00:15:30,280 --> 00:15:33,400
I'm like, but off market doesn't
necessarily mean that they're a
295
00:15:33,400 --> 00:15:35,880
seller.
You know, I can call anybody and
296
00:15:35,880 --> 00:15:37,720
say, and hey, would you accept
an offer?
297
00:15:37,960 --> 00:15:40,120
Yeah.
And the comparable is 5,000,000
298
00:15:40,120 --> 00:15:41,640
bucks and this guy will accept
10.
299
00:15:41,640 --> 00:15:44,480
Do you want to spend?
Because this guy's on the market
300
00:15:44,480 --> 00:15:48,800
for five.
Do you want the off market one
301
00:15:48,800 --> 00:15:52,360
for 10?
I mean, OK, so I think that's
302
00:15:52,360 --> 00:15:56,840
funny because a lot of people
always say that and I've done
303
00:15:56,840 --> 00:15:59,320
off market deals and I've
gotten, you know, I've been on
304
00:15:59,320 --> 00:16:01,520
both sides of it and I've gotten
good deals and I've been in the
305
00:16:01,520 --> 00:16:03,360
middle of it.
So I get it.
306
00:16:03,680 --> 00:16:07,720
But it's not, in my opinion, the
only thing.
307
00:16:07,760 --> 00:16:10,840
And if you're going to really
look for something, you know,
308
00:16:11,600 --> 00:16:13,760
look what's on the market, look
what's on the market for more
309
00:16:13,760 --> 00:16:18,040
than 120 days, Look what just
came off the market in the last
310
00:16:18,040 --> 00:16:20,560
six months.
And then go back to those people
311
00:16:20,760 --> 00:16:24,080
instead of just calling every
everybody on the block, which is
312
00:16:24,080 --> 00:16:25,360
fine.
And I've done that.
313
00:16:25,360 --> 00:16:29,920
I know you do it too.
But buyers sometimes become
314
00:16:29,920 --> 00:16:33,280
hyper obsessed with it.
And I don't think that they know
315
00:16:33,280 --> 00:16:36,040
what they're talking about.
So hopefully that educates them
316
00:16:36,040 --> 00:16:40,240
a little bit to it.
I think about this all the time.
317
00:16:40,360 --> 00:16:42,640
You know, I get those calls I
want off market and it's like
318
00:16:43,080 --> 00:16:46,080
actually exactly what you said.
Let me find you something that's
319
00:16:46,080 --> 00:16:50,000
been on the market, sat on the
market has a willing fatigued
320
00:16:50,000 --> 00:16:53,800
seller and let's get you a great
deal as opposed to like you're
321
00:16:53,800 --> 00:16:58,000
saying no, it's it's funny.
It's the same thing over here in
322
00:16:58,000 --> 00:16:59,840
my camp.
Same, same, same, same.
323
00:16:59,840 --> 00:17:02,760
I'm glad you asked that question
though, and I'm glad we fear the
324
00:17:02,760 --> 00:17:06,119
same, the same sentiment on it
because I think a lot of brokers
325
00:17:06,119 --> 00:17:09,599
struggle with that because even
me, I have brokers in my office
326
00:17:09,599 --> 00:17:12,560
that work on my team.
I have a team of 10 and you
327
00:17:12,560 --> 00:17:15,560
know, one of them is all about
off market stuff and he's
328
00:17:15,560 --> 00:17:19,920
calling and he's calling and I
see like this other agent who
329
00:17:20,119 --> 00:17:23,920
gets the off market but knows
how to handle the objection and
330
00:17:23,920 --> 00:17:26,720
then presents, you know, on
market, off market, something
331
00:17:26,720 --> 00:17:30,120
that just just came off market
and represented right even
332
00:17:30,120 --> 00:17:31,200
through the same broker.
Whatever.
333
00:17:31,200 --> 00:17:32,960
I don't need you need to call
the it's fine.
334
00:17:33,240 --> 00:17:35,960
And then all of a sudden that
person's doing 3 or 6 deals with
335
00:17:35,960 --> 00:17:39,480
this guy's just like banging the
phones first a block on in the
336
00:17:39,480 --> 00:17:43,440
West Village.
And I'm like, you know, if I'm,
337
00:17:43,520 --> 00:17:47,360
if I'm a buyer, I want off
market deals in the most coveted
338
00:17:47,360 --> 00:17:50,320
neighborhood in the world too
out of 50% discount.
339
00:17:50,520 --> 00:17:53,840
Why are you running around?
Do it like logic.
340
00:17:53,840 --> 00:17:55,960
You know, you're looking for a
needle in a haystack.
341
00:17:56,160 --> 00:17:58,960
And if you just worked a little
smarter and handled the
342
00:17:58,960 --> 00:18:02,320
objectives of your buyer, you
could be a lot more successful
343
00:18:02,320 --> 00:18:04,080
and your buyer could buy a lot
more too.
344
00:18:04,320 --> 00:18:06,960
So it's just about learning by
experience and getting better
345
00:18:06,960 --> 00:18:09,360
and better with handling those
objections and then coming up
346
00:18:09,360 --> 00:18:11,480
with solutions.
You know, that's the one thing
347
00:18:11,480 --> 00:18:14,440
that Ryan Sirhan has taught me
is like, you don't go into a
348
00:18:14,440 --> 00:18:18,120
meeting without 10 ideas.
Like you need to have a new idea
349
00:18:18,120 --> 00:18:21,040
for that same pitch the next
day, 10 new ones in case they
350
00:18:21,040 --> 00:18:23,960
call you back and ask for, you
know, we just OK, boom.
351
00:18:23,960 --> 00:18:25,520
What about this?
What about this?
352
00:18:25,640 --> 00:18:27,840
Because at least it shows that
you're thinking.
353
00:18:28,200 --> 00:18:31,680
And, you know, a lot of people
just listen to their clients.
354
00:18:32,080 --> 00:18:35,000
Oh, this is what they want.
And then they just try and do
355
00:18:35,000 --> 00:18:37,520
it.
But you also have to use the the
356
00:18:37,520 --> 00:18:40,720
fact that you're the ex.
Listen, I know you do finance.
357
00:18:40,840 --> 00:18:43,800
I know you do XY and Z.
I've been doing this for almost
358
00:18:43,800 --> 00:18:46,280
2 decades, OK?
That's why you're talking to me.
359
00:18:46,760 --> 00:18:48,160
You're not, you know, I'm not a
new.
360
00:18:48,160 --> 00:18:49,440
You're right.
You're talking to me because I'm
361
00:18:49,440 --> 00:18:51,520
the expert.
And as the expert, it's hard to
362
00:18:51,520 --> 00:18:53,480
say this.
It's hard to say what I'm
363
00:18:53,480 --> 00:18:55,600
saying.
And as the expert, this is how
364
00:18:55,600 --> 00:18:57,600
we're going to approach or
tackle this issue.
365
00:18:58,280 --> 00:19:00,640
I'll get back to you.
I'm on it and I'll and I'll show
366
00:19:00,640 --> 00:19:01,480
you how I work.
Ready.
367
00:19:01,480 --> 00:19:04,120
Let's go and hang up the phone.
I don't need to talk.
368
00:19:04,120 --> 00:19:10,280
OK, Now hunt.
No, it's interesting how even in
369
00:19:10,280 --> 00:19:14,360
the biggest market like New
York, it applies everywhere.
370
00:19:15,560 --> 00:19:19,520
So the fundamentals, right, the
nuances it's like you said are
371
00:19:19,520 --> 00:19:22,240
different, but the fundamentals
remain the same.
372
00:19:22,560 --> 00:19:24,680
So.
And then people ask me all the
373
00:19:24,680 --> 00:19:27,440
time, you know, what's the best
advice on negotiation?
374
00:19:27,440 --> 00:19:29,400
Well, how do you become a new
agent?
375
00:19:29,960 --> 00:19:32,760
And I'm like, same thing.
It's just like the fundamentals,
376
00:19:32,960 --> 00:19:35,880
you know, if you see a new piece
of property every day, in my
377
00:19:35,880 --> 00:19:39,920
opinion, over almost 19 years in
the business now, you know how
378
00:19:39,920 --> 00:19:42,120
many properties I've seen
because I see one piece of
379
00:19:42,120 --> 00:19:45,440
property every day.
But like it looks silly at the
380
00:19:45,440 --> 00:19:48,800
beginning one piece.
But after a decade, I'm like, I
381
00:19:48,800 --> 00:19:53,800
have an encyclopedic knowledge
of every building, who the owner
382
00:19:53,800 --> 00:19:55,040
is.
Is it a condo?
383
00:19:55,040 --> 00:19:57,120
Is it 25 feet?
Is it 50 feet?
384
00:19:57,120 --> 00:19:59,160
Is it on a corner?
Does it have retail?
385
00:19:59,280 --> 00:20:01,600
Is it developable?
Is there air rights available?
386
00:20:01,800 --> 00:20:04,800
And all these views, is the view
going to potentially be
387
00:20:04,800 --> 00:20:07,600
obstructed lot line windows like
so many different things.
388
00:20:07,960 --> 00:20:10,480
And that just comes from getting
out there.
389
00:20:10,800 --> 00:20:13,600
And that's nothing special.
I'm not a, there's nothing
390
00:20:13,600 --> 00:20:16,080
special about that.
It's just getting out there.
391
00:20:16,080 --> 00:20:20,480
So if you could get up and get
out every day, even if it's just
392
00:20:20,480 --> 00:20:23,800
a broker's open house or just an
open house or just a preview,
393
00:20:24,440 --> 00:20:26,600
you know, call someone up, hey,
I might have somebody.
394
00:20:26,600 --> 00:20:27,920
I just want to get in real
quick.
395
00:20:28,160 --> 00:20:30,640
Do that every day, go to the
open, right?
396
00:20:30,800 --> 00:20:33,200
You do that.
I guarantee in six months you're
397
00:20:33,200 --> 00:20:35,320
going to, when the client calls,
you're going to know more than
398
00:20:35,320 --> 00:20:37,400
the client.
Because right now, without going
399
00:20:37,400 --> 00:20:39,600
to those properties, they're
like, well, what about Eddie
400
00:20:39,600 --> 00:20:42,360
Clarkson?
And you're like, well, no, I can
401
00:20:42,360 --> 00:20:45,440
tell you exactly about educated
Clarkson, 2 towers West Village
402
00:20:45,800 --> 00:20:49,560
built by the 2nd dwarfs, right?
And then all of a sudden they,
403
00:20:49,640 --> 00:20:50,960
they're like, wow, this guy
knows.
404
00:20:51,000 --> 00:20:56,520
And that nuance creates trust.
And that trust is how you build
405
00:20:56,520 --> 00:21:00,000
the business.
Well, that's a mic drop that'll
406
00:21:00,000 --> 00:21:06,520
work for a great clip.
No, I think I've noticed there's
407
00:21:06,520 --> 00:21:09,680
like an unlock after you do
something for so long.
408
00:21:09,680 --> 00:21:11,480
The same thing in the same
place.
409
00:21:11,480 --> 00:21:14,240
Like my specialty is warehousing
in Colorado.
410
00:21:14,520 --> 00:21:16,960
So it's all I know.
Live, breathe.
411
00:21:16,960 --> 00:21:19,120
I feel like the buildings are
like people.
412
00:21:19,200 --> 00:21:21,640
I know them.
It's like you're saying, and
413
00:21:22,240 --> 00:21:25,000
it's like playing a video game
after like 10 years of doing
414
00:21:25,000 --> 00:21:27,640
something professionally full
time where you level up and
415
00:21:27,640 --> 00:21:29,920
you're like, holy shit, like
let's go.
416
00:21:29,920 --> 00:21:32,720
Like I'm just getting started.
We're young.
417
00:21:33,160 --> 00:21:36,120
We have, you know, we're, we
like to work hard.
418
00:21:36,120 --> 00:21:39,560
We love what we do.
It's a really advantageous place
419
00:21:39,560 --> 00:21:40,840
to be.
And we happen to do it in the
420
00:21:40,840 --> 00:21:43,840
best country in the entire
world, so hell yeah.
421
00:21:44,440 --> 00:21:46,680
And we like media.
You know, it's all about the
422
00:21:46,680 --> 00:21:50,120
media in my opinion too,
because, you know, I work with
423
00:21:50,120 --> 00:21:55,320
Ryan Sirhan and Ryan is, he's a
master at the media.
424
00:21:55,400 --> 00:21:58,920
And you know, I learned so much.
So it's like everything you just
425
00:21:58,920 --> 00:22:01,400
talked about, the compounding
that, you know, the sticking in
426
00:22:01,400 --> 00:22:03,600
the business and all that stuff
is important.
427
00:22:04,080 --> 00:22:06,360
But what you're doing that's
unique is that you're out here
428
00:22:06,360 --> 00:22:09,800
and you're doing podcasts and
you're on X giving it every
429
00:22:09,800 --> 00:22:12,440
single day.
And just like real estate,
430
00:22:12,440 --> 00:22:15,080
getting out there and seeing at
one piece of real estate every
431
00:22:15,080 --> 00:22:19,080
day, the fundamentals here are
posting on X every day and then
432
00:22:19,080 --> 00:22:22,000
getting a podcast with this
person and then setting that up
433
00:22:22,000 --> 00:22:24,320
and scheduling and do it right.
And those are fundamental.
434
00:22:24,320 --> 00:22:25,920
We're not, we're talking about
scheduling.
435
00:22:25,920 --> 00:22:29,000
We're talking about opening up
an app in your phone and just
436
00:22:29,000 --> 00:22:32,000
hitting a couple buttons and
saying what you feel about how
437
00:22:32,000 --> 00:22:34,600
you're experiencing your real
estate market or your or the
438
00:22:34,600 --> 00:22:36,920
client.
And that is the same thing in
439
00:22:36,920 --> 00:22:40,280
parallel to to going and seeing
all of those pieces of real
440
00:22:40,280 --> 00:22:42,480
estate and you're doing a great
job.
441
00:22:42,480 --> 00:22:45,000
I just want to take a moment and
and give you a hats off because
442
00:22:45,280 --> 00:22:48,280
you know, I'm out here and I see
you and I don't know anything
443
00:22:48,280 --> 00:22:50,840
about warehousing in Denver, but
I'm interested.
444
00:22:51,400 --> 00:22:54,680
So that's incredible, right?
I'm you know, I'm in New York,
445
00:22:54,680 --> 00:22:56,920
you know, I'm big, you know,
doing a lot of deals in New
446
00:22:56,920 --> 00:22:59,400
York, but I'm like watching your
account like, oh, wow, very
447
00:22:59,400 --> 00:23:00,920
interesting.
I love what she's doing.
448
00:23:01,080 --> 00:23:03,280
I love your perspective on that.
Watch that podcast.
449
00:23:03,280 --> 00:23:05,680
Super cool.
So what I think is the is the
450
00:23:05,680 --> 00:23:08,760
best is everything that you just
said with like the media
451
00:23:08,760 --> 00:23:12,040
sprinkled all on top of it.
And if you do that, it's like.
452
00:23:13,600 --> 00:23:14,680
Game over.
Oh yeah.
453
00:23:14,680 --> 00:23:17,600
I mean when the silver tsunami
hits.
454
00:23:18,280 --> 00:23:22,680
And our parents and grandparents
and the baby boomer generation
455
00:23:22,760 --> 00:23:25,120
retires.
It's over, but it's already
456
00:23:25,120 --> 00:23:29,080
over.
So no, it's, you know, I, I
457
00:23:29,080 --> 00:23:32,920
appreciate the kind words you
said in season 2 of owning
458
00:23:32,920 --> 00:23:36,760
Manhattan.
I think his name is Dan, the new
459
00:23:36,760 --> 00:23:38,640
guy.
You said we're selling
460
00:23:38,680 --> 00:23:43,000
enthusiasm.
And now just talking to you,
461
00:23:43,640 --> 00:23:46,680
it's obviously just it's real.
Like that's real.
462
00:23:46,680 --> 00:23:51,000
That's actually what you feel.
And now just having this time
463
00:23:51,000 --> 00:23:54,840
with you, I mean, I don't think
anybody could listen to this
464
00:23:54,840 --> 00:23:58,920
podcast and think otherwise.
So it's cool to see that.
465
00:23:58,920 --> 00:24:02,040
And and when you said that it
was like an unlock, like, holy
466
00:24:02,040 --> 00:24:05,800
shit, he's right.
Like we are selling, being
467
00:24:05,800 --> 00:24:09,040
enthusiastic or not.
It's like you said, being able
468
00:24:09,040 --> 00:24:11,520
to tell your client this isn't
it?
469
00:24:11,560 --> 00:24:13,640
Like we talked about what it
was.
470
00:24:13,960 --> 00:24:17,880
So like I said, back to the
authenticity piece, people can
471
00:24:17,880 --> 00:24:21,800
smell that shit out, but whether
it's on this screen, whether
472
00:24:21,800 --> 00:24:24,840
it's on Netflix, it doesn't
matter.
473
00:24:24,920 --> 00:24:27,400
Real is real and and I feel it
with you.
474
00:24:27,400 --> 00:24:30,720
So it's dope to like have this
conversation and and get there
475
00:24:30,720 --> 00:24:32,480
with you.
Absolutely.
476
00:24:33,120 --> 00:24:35,880
OK, let me get before I let you
go.
477
00:24:36,400 --> 00:24:40,360
What is 1 New York real estate
myth you'd kill forever?
478
00:24:40,960 --> 00:24:46,640
One New York City real estate
myth that I would kill forever
479
00:24:48,360 --> 00:24:53,000
probably you know, on the rental
side because it's if you look at
480
00:24:53,000 --> 00:24:57,440
the housing stock of New York,
75% of it is for rent.
481
00:24:57,680 --> 00:25:02,320
So there's 25 is for sale and
out of the 25% is the 75% Co-op
482
00:25:02,320 --> 00:25:06,520
right?
So New York is a rental city.
483
00:25:06,680 --> 00:25:08,840
Most people rent.
I started my career doing
484
00:25:08,840 --> 00:25:14,120
hundreds of rentals.
It's crazy, but what most people
485
00:25:14,120 --> 00:25:16,520
think is that they can get a
better deal without using an
486
00:25:16,520 --> 00:25:19,320
agent.
And I don't know where people
487
00:25:19,320 --> 00:25:21,960
are from, but if you're from
Minnesota, I'm sure you could go
488
00:25:21,960 --> 00:25:23,920
on the Internet and have a
pretty decent time.
489
00:25:26,080 --> 00:25:28,920
But in New York it's a lot
different.
490
00:25:28,920 --> 00:25:31,400
The competition, you remember,
there's seven applications on
491
00:25:31,400 --> 00:25:34,880
one apartment.
And if I am working with you and
492
00:25:34,880 --> 00:25:37,320
I, because I've been doing this
forever, just have a
493
00:25:37,320 --> 00:25:42,520
relationship with John Broker,
then I'm like John, you know,
494
00:25:42,680 --> 00:25:46,040
and then John and I, you know,
and that's how you do the deal.
495
00:25:46,280 --> 00:25:47,960
And a lot of times it's
relationships.
496
00:25:48,160 --> 00:25:51,040
So, you know, we do a lot of
deals like that, but it's always
497
00:25:51,040 --> 00:25:53,000
people saying, oh, I don't want
to work with a broker.
498
00:25:53,000 --> 00:25:54,480
I'm trying to save some money,
OK.
499
00:25:54,680 --> 00:25:56,760
And then they call back and
they're like, man, I got
500
00:25:56,760 --> 00:25:59,080
destroyed.
This guy over here tried taking
501
00:25:59,080 --> 00:26:01,160
my money and I almost got
scammed on the corner.
502
00:26:01,160 --> 00:26:05,480
I'm like, right, right.
That's what I'm saying.
503
00:26:05,480 --> 00:26:08,600
So you know it, you know,
sometimes it might be expensive,
504
00:26:08,600 --> 00:26:12,520
but I think overall it's totally
worth it and it makes your life
505
00:26:12,520 --> 00:26:14,640
a lot easier, especially if
you're just coming to the city
506
00:26:14,640 --> 00:26:16,120
new.
It's such a big city.
507
00:26:16,120 --> 00:26:18,760
There's so much to know.
Is this neighborhood good?
508
00:26:18,760 --> 00:26:21,360
Where's the subway here?
Like to have somebody just, you
509
00:26:21,360 --> 00:26:24,080
know, guide you, walk you
through everything, make sure
510
00:26:24,080 --> 00:26:26,880
you're comfortable.
You know, the extra month you're
511
00:26:26,880 --> 00:26:28,560
paying, it's not it's not going
to kill you.
512
00:26:28,720 --> 00:26:31,600
You're making the move anyway.
So just it's always best to have
513
00:26:31,600 --> 00:26:33,400
somebody in your corner to be
your advisor.
514
00:26:33,400 --> 00:26:34,880
I think that's one of the
biggest myths.
515
00:26:34,880 --> 00:26:36,720
People like, oh, I could do it.
I'm like, all right.
516
00:26:36,720 --> 00:26:38,920
And I always say, good, you let
me know how it goes.
517
00:26:39,360 --> 00:26:43,360
Like 48 hours later, they're
like, hey, I'm like, yeah, it's
518
00:26:43,360 --> 00:26:46,160
OK, you tried.
You're like, that was quick, but
519
00:26:46,160 --> 00:26:48,440
you know, yeah.
OK.
520
00:26:48,440 --> 00:26:52,200
Niall, before I let you go, last
question, what is your real
521
00:26:52,200 --> 00:26:56,600
estate secret?
That's a good one.
522
00:26:56,640 --> 00:27:00,800
My real estate secret is the
system is always the solution.
523
00:27:01,520 --> 00:27:05,200
So I have, I have about 30
active listings right now.
524
00:27:05,320 --> 00:27:08,480
I have a team of 10 different
agents between New York City and
525
00:27:08,480 --> 00:27:11,840
the South Florida market.
The only way that I would be
526
00:27:11,840 --> 00:27:15,680
able to do that is if I had
very, very dialed in systems.
527
00:27:15,760 --> 00:27:17,320
Doesn't have to be super
complex.
528
00:27:17,440 --> 00:27:20,600
For a lot of it, I just use
Excel spreadsheets, but I had
529
00:27:20,640 --> 00:27:23,680
every deal, every situation
logged.
530
00:27:24,000 --> 00:27:26,680
Every time a deal comes in, it
gets its new folder.
531
00:27:26,680 --> 00:27:28,520
I have a visit tracker for
everything.
532
00:27:29,320 --> 00:27:31,640
We just mirror, we mirror
everything.
533
00:27:31,640 --> 00:27:35,440
So like if we have marketing,
we'll just copy it to the next
534
00:27:35,440 --> 00:27:37,120
project and then we just follow
it.
535
00:27:37,360 --> 00:27:39,960
So once you post it here, you
post it here, then you go send
536
00:27:39,960 --> 00:27:42,480
out the e-mail update.
Then you do this, then you ask
537
00:27:42,480 --> 00:27:44,840
for brokers open house.
Then to confirm the brokers open
538
00:27:44,840 --> 00:27:47,720
house, you send this form
template to the title insurance
539
00:27:47,720 --> 00:27:50,400
guy who's then going to do the,
you know, the catering and and
540
00:27:50,800 --> 00:27:54,120
then the photographer.
And then there's just every no
541
00:27:54,120 --> 00:27:57,440
thinking.
We've made it so dialed in that
542
00:27:57,440 --> 00:28:01,280
you do not have to think.
If I had to think and make it up
543
00:28:01,840 --> 00:28:06,920
for 30 different listings, I
would literally lose my mind and
544
00:28:06,920 --> 00:28:08,680
jump off the Brooklyn Bridge,
right?
545
00:28:08,840 --> 00:28:13,200
But because I have a system and
I know how to do it, I teach my
546
00:28:13,200 --> 00:28:16,720
whole team to operate within the
system that gives me visibility.
547
00:28:16,960 --> 00:28:19,720
I have different people,
assistants, managers, right,
548
00:28:20,320 --> 00:28:22,600
marketing managers, and then
they all communicate.
549
00:28:22,600 --> 00:28:24,640
We use Slack, we have team
meetings.
550
00:28:24,960 --> 00:28:28,920
And that allows us to
exponentially scale, right?
551
00:28:28,920 --> 00:28:32,240
Versus me just running around
doing 3 listings like a chick
552
00:28:32,240 --> 00:28:35,840
with my head cut off, right?
And like, Nah, give me 10 more
553
00:28:36,040 --> 00:28:38,520
because we have the system and
everybody knows the system
554
00:28:38,680 --> 00:28:41,440
because I've been training them.
So it's becoming more and more
555
00:28:41,440 --> 00:28:44,320
real that we're able to scale at
a large scale.
556
00:28:44,640 --> 00:28:48,280
And yeah, I think 2026 is going
to be gangbusters.
557
00:28:48,280 --> 00:28:51,800
I'm I'm not going to lie.
I have no doubt it is.
558
00:28:52,120 --> 00:28:55,080
When you're ready to expand to
Colorado, call me.
559
00:28:55,840 --> 00:29:00,480
And no, Congrats on all your
successes.
560
00:29:00,480 --> 00:29:02,400
It's well deserved.
Thank you.
561
00:29:02,960 --> 00:29:06,680
I love watching you, like I
said, on social and on the big
562
00:29:06,680 --> 00:29:09,080
screen, and I appreciate your
time today.
563
00:29:09,560 --> 00:29:14,000
So for everybody listening,
Niles Lundrett.
564
00:29:14,680 --> 00:29:19,200
I I'm Lundgren Lundgren
Lundgren, yes.
565
00:29:19,760 --> 00:29:21,960
Sorry, I should have.
I should have got that in the
566
00:29:21,960 --> 00:29:22,840
1st place.
That's OK.
567
00:29:23,080 --> 00:29:26,600
Niall Lundr.
Lundr out of New York City, give
568
00:29:26,600 --> 00:29:29,720
him a call for your next
acquisition and we'll see you
569
00:29:29,720 --> 00:29:35,360
next week.
That's a wrap for this week on
570
00:29:35,360 --> 00:29:39,280
commercial real estate secrets.
If you found value, do us a
571
00:29:39,280 --> 00:29:43,080
favor and subscribe.
Leave a review and share it with
572
00:29:43,080 --> 00:29:45,480
a fellow commercial real estate
lover.
573
00:29:46,160 --> 00:29:48,680
For brokerage services or to
connect, visit
574
00:29:48,680 --> 00:29:51,360
warehousehotline.com.
I'm Aviva.
575
00:29:51,760 --> 00:29:53,000
We'll see you next week.
