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I think there's a lot of confusion
right now in the safes that folks really

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don't. Rates went up in prices
a specific down. We have a really

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seen that. And our level here
in the New England area, well,

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what you're starting to see is the
mind is temporary of a little bit.

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So we're really in that in that
situation where the market's a little confused.

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Normally you see prices plummet, they
have it, and normally you see buyer

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demand plumb it has it. So
it's it's really just kind of a stalemate

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that we've seen the last few years. You're listening to Carrie Let's's Financial Survival

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Network where you get valuable information you
just can't find anywhere else to thrive in

10
00:00:36,159 --> 00:00:41,600
today's trying times. You need the
Financial Survival Network now more than ever.

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Go to Financial Survivalnetwork dot com and
get your free newsletter and gift. Financial

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Survival Network now more than ever,
and welcome you are listening to the Financial

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Survival Network. I'm your host,
Carrie Letz. It's ten eleven twenty three.

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Well, you're gonna want to hear
from this person if you have any

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interest in real estate and hard asset
investing, any of that. This person

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was designated as the Wall Street Journal's
number one realtor nationwide. His name is

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Kyle Sievith. Kyle, it is
great to have you on the show.

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Hey, how did the Wall Street
Journal love figure out that you're the number

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one real turn So this was done. It was in twenty nineteen, and

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it was done via transaction side.
So in twenty nineteen, I did the

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most transaction sides in the Higher Country
and the beauty of that was, you

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know, one person, I know
every single one of my clients, and

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yeah, it worked out well.
All right? So was that mostly commercial

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or residential or a bit? So
when you say transaction side, that just

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means whether it's one unit or fifty
units, that's one side. So that's

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only one side, right, Okay, So, hey, what's your take

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on the real estate market now?
As well as we got an expert and

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obvious expert on the line here.
Yeah, I mean, I think the

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real estate market is very confused.
I think there's a lot of confusion right

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now in the sense that folks really
don't rates went up in prices are specific

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down. We haven't really seen that. And our level here in the New

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England area well, what you're starting
to see is the may of this is

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temporary of a little bit. So
we're really in that in that situation where

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the market's a little confused. Only
you see prices plummet they have it,

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and only you see buyer demand plumb
it has it. So it's it's really

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just kind of a stalemate that we've
seen the last few years and rates.

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Everybody's talking about rates set a reserve
we got you know, PPI number comes

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out today a little bit over what
they would have liked. How big a

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factor is rates in this market now? If they were to cut rates,

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say by a third of where they're
at now, would that result in a

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huge push for the market or would
it be greedy with indifference sy that again,

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I'm saying, if the Federal Reserve
were to start ratcheting rates back,

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cutting rate and do you start seeing
the raids ky, you're going to see

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a massive influx of uyres back into
this market. It will be insanity.

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It'll be insanity. I think if
you do see that, they expect that

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demand goes through the rule because people
we stand you're going to miss out again

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on any sort of interest rates spite
that you're going to see hat okay,

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And I mean, I know we've
got a lot of other things to talk

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about, but I think the market
review for somebody boots on the ground is

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really important because many of you out
there don't have any idea what's really happening.

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But we still see like in certain
states markets like Florida, the raid

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ikes haven't seemed to do much other
than to cut back on supply. It

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because you've got all these people with
three percent mortgages who'd love to you,

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you know, to move, but
are like locked into their properties. Now

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all right, correct, I mean
I did. You've got again a lot

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of people that are they have those
super low interest rates that they had for

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the last few years, and they
don't want to go out of those rates

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and you know, lose that rate
and against some higher But at the end

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of the day, it's up if
it's a rule you need for your family,

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or if it's a wogle you need
for your well being or so on

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and so forth, it's it's definitely
something that you should not let interest rates

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become the be on end all.
I think it's importing that buyers understand and

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seller to understand you can always refinance
down the road, and at the end

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of the day, you can always
refight us down the road. That allows

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you to, you know, decrease
your rates or rates come down as payment

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and the money makes sense. Now
it's only going to make more sense down

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our own right, So hopefully rates
will accommodate that that strategy. I guess

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you never really know. Hey,
so your keys to success? Basically,

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I'm reading here it says that seven
ninety percent of your decisions you don't have

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to make anymore. How did you
pull that one off? Yeah? I

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mean I delegated at a lot of
the past things that come across my desk

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on a day in the day out
basis, And I think, what that's

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not that it's allowed me to just
actually just make decisions versus having to hit

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in the weeds and be involved in
all on my new shut and I think

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that's been very helpful. So I
think that that's one of the things.

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Is really delegating anything that's not being
comproducing has been more of the keys to

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my success. Yeah, that does
make a lot of sense, And many

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successful people have told me similar things, because you can't do everything yourself,

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and if you try, then you
wind up missing opportunities because you're too busy

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handle the day to day, nine
to five stuff, correct, exactly.

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I think that's the part where that
separates not only a leader, but a

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successful person. You know, a
successful person out starting wow, the will

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prom a person that's not as successful. Right. So, somebody looking to

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get into real estate, now,
would you tell them forget it and put

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it it's too dangerous or do you
take the plunge? I would tell them

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that it's important that we understand why
they're looking to get into real estate,

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and with that right, have a
good have a good understanding of what's important

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to you and what is the purpose
and what's your why? But I think

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that's the most important, right.
And so obviously commercial real estate office buildings

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in a state of period apparently terminal
decline. How do you see that market

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being able to be turned around at
some point or is it past the point

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in no return? I think commercial
real estate, depending on what segment of

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commercial is, is certainly something that's
been you know, impacted, specifically office,

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and I think they are right now. We're at such a housing crisis

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that I think the moves or the
wards residential in all those commercial spaces,

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I think is important. I think
that's what you're starting to see. These

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are starting seatboats that are that are
converting a lot of these commercial buildings need

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to residents well, like in New
York City, the older buildings and in

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the Northeast Ire ad Venture, to
say, the older buildings lended that lended

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themselves to conversions because the proportions,
et cetera just made conversion very easy.

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Like in Manhattan's Financial District those buildings
as they weren't ultra large inside. But

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these modern office buildings have you know, one hundred and twenty thousand square foot

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floors with not a lot of windows, a lot of it's in the close

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to the core or it doesn't really
lend itself to conversion so much doesn't.

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No, it does, and so
there's only certain buildings and certain locations that

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would lend to that. And I
think that's another important factor there that some

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of these buildings that the secondary tertiary
use is going to become very interesting and

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go qual it. Yeah, I
was just wondering if you had any insight

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into other potential uses because it's it's
like nobody knows what to do with them.

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Do you just knock them down?
They caut billions to put up.

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I think other uses would be really
you know, you kind of got to

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look at it almost making like an
AIRB and B office type slash workspace where

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people can rank out smaller office versus
having monster offices, right, so you

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almost consolidate. That's one option.
Another option, you know where where oh

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story. I mean, there's just
there's not a ton to do with these

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things besides you know, possibly,
like you said, knock them down.

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Hey, And that leads to the
next question of like malls. You know,

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there's a contraction in the mall space. There's that mall outside of the

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New York City in New Jersey.
I think it was like going to be

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the largest one in the country.
And they're also in a state of terminal

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decline and there's really nothing to do, no way to repurpose those structures more

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or less, they got to be
raised and the property used for another application.

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Yeah, I mean, I think
mall we're seeing it here in the

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Northeast as well. I mean they
were built and you know, during the

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nineties and early two thousands they were
at the hot topic. But right now

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these malls are again when I'm trying
to see is converting to residential, or

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converging into elderly housing, or converging
to some sort of housing that I think

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makes sense. Yeah. Yeah,
Well, let's you see these ghost malls

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around the country, and the high
end ones are doing doing better. I

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wouldn't say they're doing right, but
they're sustaining, and the outlet balls seem

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to be doing okay. But everything
in the middle, even in Florida here

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is getting crushed. Yeah. I
mean, that's that's pretty more you done.

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You really have definitely started to really
build that spread, you know,

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the high to the lower ring and
then the middle class or the middle the

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middle part of the which the word
I'm looking for. The middle part of

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the retail space has really been flobbered
by Amazon. I mean you don't really

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have that same touching that that's not
needed anyway, Yeah, Amazon and every

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other online retay right right. Yeah, So so there's a realignment taking place.

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But when it comes to residential,
basically you might move from city to

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city. Certain cities might be declining, but others were expanding. So that's

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really where the real estate business is
going to be out for the foreseeable future.

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Definitely, for sure. So you
mentioned housing shortage. How acute is

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it? How bad is really?
But it's pretty significant. It's pretty significant.

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And I think what you're seeing is
reds are going through the little it's

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it's unless you have right control underway. Uh, They're just there's significant reaches

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the reds. And I think what's
happening there is uh, you know,

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you need to so you need to
have more supply. And the mad is

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there supply, this isn't there.
So it's just a function of how many

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new builds or how how much saturation
there is potential for in the future.

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And I think that's important that you
know, we figured that out, you

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know, as a as a country, especially in New England Northeast where there's

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a lot of density, we definitely
have a significant problem. All right,

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Well, hey, so just some
advice for someone getting into real estate again,

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just your top three things that you
should do when you're looking at a

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deal, whether or not to go
or not. The advice I would give

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folks for real estate if you're looking
at a deal and you're looking at making

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a you know, making a deal
or or making something happen, I think

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you just got to always look at
the market, is at the tile of

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deal where you think it'll be in
six to twelve months, like there's potential

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or any short of death contern then
you've got a factor in a clintingency point.

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I think that's the biggest fact,
the biggest back of that. I'm

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seeing that people need to pay attention. So is it ten percent dout the

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twenty percent out? What's that number
that has to make sense? Right?

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Okay, Hey, what timeframe you
think people should be looking more short term

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intermediate than longer term now? Or
do you look longer term to kind of

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like mitigate got it? Sterm play
all right now? And you've got to

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definitely be a long term player.
I think you've got to look at things

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and say, we're at the top
of the cycle. So I during this

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00:13:01,200 --> 00:13:07,080
little short term I think instead natively
impact you. So you've got to be

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long term by hold, and you've
got to be able to sustain it.

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Hey, what's your favorite geographical region
within the country? Now? I love

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the South. I love Florida area. I just like the weather, and

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I think that's how it makes you
happy when it's sunny. So I like

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the beating of the silence. So
yeah, it's not sunny, right,

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now at least where I am in
Palm Beach County, but that could change

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in a minute, so we're not
worry dat right right, all right?

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Hey, well, hey, we
want to if you want to connect to

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how do people find you? So
he certainly social media? You know,

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Facebook, on Instagram, I'm all
over that shop. You can definitely find

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you. All right. You got
a website we can put cone. You

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can also go to see Theteamholmes dot
com. All right, hey, we'll

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put a link to that in the
show notes. This interview on Financial Survival

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00:14:01,600 --> 00:14:05,200
Network dot com. Got a question
for Kyle and myself, shoot me an

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00:14:05,200 --> 00:14:13,840
email Klahcarrielutz dot com and Kyle appreciate
you coming on. Good continued luck of

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the Wall Street Journal rediscovers you again. Thank you certainly, well, thank

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00:14:16,639 --> 00:14:20,399
you so much. Have a wonderful
day. Thanks for listening to Carrie Letz's

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00:14:20,399 --> 00:14:26,039
Financial Survival Network, your solution to
today's trying times. For the latest,

188
00:14:26,120 --> 00:14:33,799
go to Financial Survivalnetwork dot com.
Financial Survival Network now more than ever,