Passive cash flow is a huge component to wealth management and one of the best ways to generate ongoing income is through real estate investments. However, in this ever-changing world of information, estate decisions can be confusing and stressful. As a seasoned broker, Nate Short is not only one of my go-to confidants but a trusted advisor. Whether you’re looking to buy a home, become a real estate agent, or even offer real estate related employee benefits, Nate is here to help on this episode of When Would You Want to Know.
For the Home Owners:
Nate: Right now there is an incredible opportunity, because the interest rates just went down. For sure, your primary residence is going to be an amazing investment, but it’s also dependent upon how long you’re going to hold it. If you’re going to own for more than six or seven years, you need to buy regardless of where the market is. That’s true with any kind of investment that you have, you have to be able to last through those cycles, you just don’t want to have to sell at that bottom.
There’s also a lot to know on the financing side. There are brokers, there’s direct banks that will lend you money, there’s hard money lenders and depending on what type of property you’re buying, you may need to pull in a different type of lender. So, the real estate agent needs to know about all those different instances.
Pierre: A lot of people think that because the information is on the internet, it’s just about price. But as Nate identified, it’s a lot more. Why should I pay a real estate agent 3% on each side of the transaction? Why is that fair? Because there’s a lot of value that’s provided, it’s insurance. It gives you comfort to sleep at night.
To speak to Nate about buying or selling your home visit NateShort.com
For the Real Estate Agents:
Nate: Run Your Business Like a Business, RYBLAB, was really inspired out of the great recession. Seeing a lot of my friends file bankruptcy, lose their homes, and real estate agents having that problem. It was only just my sheer will and my grinding attitude, that figured out ways to pull myself out of it. So, I wanted to take those experiences and help other people.
I have about 1,200 real estate agents that have taken my course. They go on my website, RYBLAB.com and it’s all video based. I really enjoy teaching and for me to be able to see these new technologies deliver information and to see them making progress financially, it’s an amazing thing.
For the Businesses Offering Employee Benefits:
Nate: Pierre actually gave me a great book called Blue Ocean Strategy. It’s a book that talks about creating totally new businesses, where you don’t have competition. So, whenever I look at new businesses, I think to myself, are they creating a blue ocean or are they all operating in the same space. I don’t want to go out and be another brokerage or another online lead generation company.
I formed a new company that is called Home Benefit Advisors and what we do is help small and medium sized businesses expand their employee benefit packages into providing a series of real estate related services, including:
- Reasons to invest in real estate and how to enhance their current 401Ks or IRAs to incorporate real estate investments
- A concierge level service for homeowners and employees of these companies, so they don’t have call all around to find a handyman
- A really strong network of agents, who are all highly skilled and have the experience in the transactional volume to really provide value
- What’s important when you’re looking at a purchase and sale agreement, including the little nuisances that even your broker won’t tell you, such as an expiration date on a contract