Imagine transforming a single housing investment into a thriving real estate empire while navigating the unpredictable tides of the market. That's exactly the story our guest, an astute ex-Patent and Trademark Office employee, walks us through in an episode that's as enlightening as it is exciting. They detail their tenacious climb from renting out rooms in their first home to commanding a robust portfolio and a six-agent powerhouse, all while offering precious wisdom on the dynamic DC housing market. Their experiences reveal the importance of both seizing opportunities and fostering genuine client relationships, providing a roadmap for anyone interested in the magnetic world of real estate.
Ever wondered how property can be the cornerstone of your financial security, especially when the economy throws a curveball? Our guest explains the enduring appeal of real estate investment, comparing the returns of a $200,000 condo to those of a stagnant savings account. Beyond dollars and cents, we venture into the personal side of the business, discussing the challenging yet fulfilling quest for work-life harmony and the joyous intersection of professional growth and personal milestones, like meeting a spouse amidst the bustling culture of the Kennedy Center.
Taking a step back from ledgers and listings, we delve into a more profound conversation about the impact of language and cultural immersion on professional and personal lives. Our guest shares anecdotes from their Japanese escapades and connects these experiences to the broader tapestry of real estate and advocacy. We wrap up by reflecting on the broader human pursuit of peace, emphasizing the power each individual holds in contributing to a more harmonious world. This episode isn't just about building homes; it's about building connections across cultures and working together for the betterment of communities.
Imagine transforming a single housing investment into a thriving real estate empire while navigating the unpredictable tides of the market. That's exactly the story our guest, an astute ex-Patent and Trademark Office employee, walks us through in an episode that's as enlightening as it is exciting. They detail their tenacious climb from renting out rooms in their first home to commanding a robust portfolio and a six-agent powerhouse, all while offering precious wisdom on the dynamic DC housing market. Their experiences reveal the importance of both seizing opportunities and fostering genuine client relationships, providing a roadmap for anyone interested in the magnetic world of real estate.
Ever wondered how property can be the cornerstone of your financial security, especially when the economy throws a curveball? Our guest explains the enduring appeal of real estate investment, comparing the returns of a $200,000 condo to those of a stagnant savings account. Beyond dollars and cents, we venture into the personal side of the business, discussing the challenging yet fulfilling quest for work-life harmony and the joyous intersection of professional growth and personal milestones, like meeting a spouse amidst the bustling culture of the Kennedy Center.
Taking a step back from ledgers and listings, we delve into a more profound conversation about the impact of language and cultural immersion on professional and personal lives. Our guest shares anecdotes from their Japanese escapades and connects these experiences to the broader tapestry of real estate and advocacy. We wrap up by reflecting on the broader human pursuit of peace, emphasizing the power each individual holds in contributing to a more harmonious world. This episode isn't just about building homes; it's about building connections across cultures and working together for the betterment of communities.
Speaker 1:
I mean it will stay agent since 2012. I started the business on my own when I first started with Century 21. Recently, about this time last year, I teamed up with another agent to start at a team and the team really rapidly grow and would transform a single agent business into now a six agent business. Right now we have 31 active listings, both residential, commercial rentals and sales. We helped about 90 homeowners last year to close on their transactions.
Speaker 2:
Pretty impressive numbers there. And are you licensed here in Virginia?
Speaker 1:
DC, virginia, maryland and Illinois. Oh excuse me.
Speaker 2:
That's awesome. I love that. How did you decide that you wanted to be a realtor? Is that something that you always were like? You know what? I'm gonna sell houses.
Speaker 1:
Well, so I started off as a government employee at the Patent and Trademark Office in Virginia. I bought my first home in 2008, when that market crashed. Back then I started looking you know, it's a good time to buy. Everyone told me it's a good time to buy because the market crashed. So we started looking at, you know, whether I should continue to rent or if I should buy and own myself, right? So we started looking at one bedroom and the number doesn't make sense. And then, like I was like, oh, how about get like a few more bedroom and then I can collect rents from other people? Yeah, there you go. So I ended up buying a three bedroom den, converted the den into a next-grid bedroom, so I have three roommates Wow, paying my mortgage.
Speaker 2:
Smart man.
Speaker 1:
And then after that and I was like, oh, this is a lucrative business that continue. And then after I purchased the third one, it's like let me get my license, I need to do this on my own, I don't need to rely on other people. So, and then after that, I help other investor do their purchase and help other first-time home buyer to buy their first home, and they come back to me to sell like three years later.
Speaker 2:
You know in DC Made an impact on them.
Speaker 1:
I did. Yeah, so in DC, like people don't stay in the same place for more than three years. Wow, I noticed, like all my, all my clients who purchased from me three years ago, like I always call them and then love it, oh, yeah, why? How do you know that we're?
Speaker 2:
ready to, ready to move. I looked at the numbers and it was time. It was time, yes.
Speaker 1:
I said, I said a time, I said I got a day anniversary, three years anniversary day, Count this out.
Speaker 2:
He's moving. He's moving. Sure, pretty good, pretty good. So what are you looking for on the market right now? Anything in particular that you're seeing. That's a trend.
Speaker 1:
So the trend of talking points for realtor, as you know, is the interest rates, you know, creeping up or yes. So that that's the talk of the year. Last year was it was a pretty bad year for a loan officer because this is not a lot of loans last year. But our team, we had good numbers, we had good sales, Most of them were cash.
Speaker 2:
Most of them were cash purchase, no flex or anything, just saying cash, just cash, yeah.
Speaker 1:
So I think it's it's the price point of our listings. We are around the 200 price point. Okay, we are doing like small condos, one or two bedroom condos. We have a lot of them, though those were the first time home buyer three years ago.
Speaker 1:
Oh, okay, so now they're ready to sell and then, like you know, we'll listen on the market. I found that to be a sweet spot for cash, because when the bank fail, people don't want to put more than $250,000 in the bank account and the stock market not everyone is good at it so, like, real estate is still a safe investment that can give you a good return when you, when you have cash in the bank and you don't trust the bank.
Speaker 2:
That's when we get the cash.
Speaker 1:
That's where people get the cash.
Speaker 2:
Yeah, yeah.
Speaker 1:
Okay, and the rent, the rental incomes are good. So for $200,000 condo you can get about $2,000 monthly rent and that's the number works better than the interest rate and the savings account.
Speaker 2:
I trust you. You're the expert. And then for people, how do you see the market going as far as real estate, Like down the line?
Speaker 1:
Let me pull up my crystal ball, okay.
Speaker 2:
Perfect, that's exactly what I want. I have one actually, let me pull it out. Okay, let's do it, let's do it.
Speaker 1:
Yeah, nobody really knows. There's a lot of things happening in this world that nobody knew. Nobody knew four years ago that we're going to have a pandemic. No Right, nobody knew that we're going to transform into this work at home situation yeah.
Speaker 1:
All the offices are empty now, like nobody goes into the office. The commercial like my commercial friends who are doing real estate they're like we're not doing anything, there's no business, nobody's going to the office. What do you do? Right, you know, retail people still need to eat, so like restaurants are still out there, but offices are down, completely down, like they turn into storages.
Speaker 2:
Oh my God, that's, sad man.
Speaker 1:
Yeah, so yeah, I mean there's a lot of things that could happen. Hoping for the best.
Speaker 2:
Yeah, me too.
Speaker 1:
But we're preparing for the worst, hope for the best.
Speaker 2:
I mean, hopefully we went through the worst already. But you never know, Life comes at you fast sometimes.
Speaker 1:
Right. But what I know is that people always only need a place to live. Yeah, right, if they couldn't afford to buy, they're gonna rent. So right now, the rental market is. I for sure that's where the business is going. Yeah, because at the end of the day, people need to live. Yes, that's possible. And then there are investors that don't know what to do with their money and then, yeah, if they're not buying, they're renting. So if you have the cash right now, it's a good time to buy.
Speaker 2:
Hit up, danny.
Speaker 1:
Yes, yes, there's gonna be renters that are actually on my way here. There were two renters that called me that want to see a place and move in this weekend.
Speaker 2:
Okay, wow Right.
Speaker 1:
Hot on the line. Right there I was.
Speaker 2:
Yes, busy man. What do you like to do on your free time? What are you doing?
Speaker 1:
I do travel a little bit, so I commute between here and Chicago because my husband is in Chicago, so I'm also licensed in Chicago.
Speaker 2:
Holy moly, that makes sense why you said I was like, okay, just randomly Chicago for nobody, that's awesome.
Speaker 1:
Sorry.
Speaker 2:
You're always taking flights. Are you driving? How are you doing?
Speaker 1:
Oh no, we're not driving. No Fly with flight, that is crazy. Just two hours.
Speaker 2:
Just two hours, no big deal, okay yeah.
Speaker 1:
And then we travel a little bit. Last time we went to last year we went to Japan.
Speaker 2:
How was that? It was good.
Speaker 1:
The people are very elderly.
Speaker 2:
I actually just was taking a class yesterday and we had zoomed with Japanese students for photography and they are so polite, so humble, they're so shy to take like self portraits and they see us as just like egotistical maniacs, which they're not wrong, but like oh my goodness, it was quite different. So you noticed that too when you were there, right?
Speaker 1:
Yeah, very polite. They don't argue, they don't fight. It's my principle.
Speaker 2:
I wish we could take that, but anyway. But no, that's amazing. Where else have you traveled?
Speaker 1:
Went to Portugal. That was fun. The food is amazing.
Speaker 2:
Yeah, I hear that, and I also hear their wine is good too.
Speaker 1:
The French wine is better.
Speaker 2:
Oh, excuse me, Okay, noted. Paris no flex, just Paris. Portugal, japan no good for you. That's awesome. It's always good to relax. How do you set boundaries? Because you know when you're your own business. It's not nine to five, it's 365.
Speaker 1:
So my boundary? I do have a boundary, Tell us about it. My hour is at 10am to 10pm. Okay, so before 10am I don't pick up the calls.
Speaker 2:
I mean rules are rules, put that, put down.
Speaker 1:
We have a virtual assistant that are offshore that works our 95 hours so they would pick up the calls and when I'm busy with other clients driving around, I do have a virtual assistant that helps on making phone calls and picking up phone calls so that the clients are taken care of when the time that I'm off, okay.
Speaker 2:
That's awesome For the hours that.
Speaker 1:
I'm off, okay.
Speaker 2:
And how did you meet your boyfriend?
Speaker 1:
My husband's and oh, I said, boyfriend, husband.
Speaker 2:
I'm so Okay, cut. I edit this, so I will be cutting them.
Speaker 1:
Okay.
Speaker 2:
Again, no smile, let me just kidding. It's good, okay, so where did you meet your husband?
Speaker 1:
We met at the Kennedy Center.
Speaker 2:
Wow, you bought both. Oh, we're going to a concert, or?
Speaker 1:
you went to a show. Yeah, I went to a show. There there was my. One of my friends just told me randomly one day that, oh, I have an extra ticket to this show, that someone you know not showing up. It's an extra ticket on a table, yeah. And then they offered me to go and I was like, okay, sure, why not? And then he said, well, but you have to wear a tuxedo. It's like a tuxedo event.
Speaker 1:
Yeah the center. Okay, wow, spend a hundred bucks when a taxi young on this show and it was the Kennedy Center's honor when the president and so that was it was. It was fun, and then the rest is history.
Speaker 2:
Oh, that's so cute. I love that. Like it's not just like oh, I thought it was like a little concert, but not like the president, no big deal like such a big event. Yeah, that's crazy. Do you often go to places or events like that?
Speaker 1:
That's so we, we got married at the Kennedy Center.
Speaker 2:
How ironic, how perfect. We met here and we got married here.
Speaker 1:
Yeah, so that was fun, it was good, I love that.
Speaker 2:
And then what's your story like? What's your background? Your parents give me the whole story.
Speaker 1:
So I grew up in Hong Kong, I was born in Hong Kong, grew up in Hong Kong and I I Family immigrated here when I was 14.
Speaker 2:
Okay, and I saw you speak Catamese, chinese and surprise Mandarin.
Speaker 1:
Yeah, how about you? Do you speak in?
Speaker 2:
the Spanish and English, not three like you, but maybe one day. Yesterday, when I was hearing Japanese from the students, I wanted to speak it. I was like this sounds so cool. It was just like all I could say was oh, wow.
Speaker 1:
Thank you.
Speaker 2:
I try I listen. It's more like phonetically I listen to them Do you go to Japan too. I would love to go to Japan. I've never been, but oh man, it's fun. Yeah, is it? A lot of technology like it is? Did you go to Harajuku? No, it's a sound familiar yeah it's very like Stylish and crazy like subculture.
Speaker 2:
Okay um, it actually inspired. What's the funny is like album for lamb Lambi and she got all her inspiration from there. So that's one place. I don't know if it's like overhyped in America, but apparently that's like the spot to find, like the cutest phones, the cutest boots, everything like I just want to go there and of course, I want to try like all the authentic sushi which I'm sure you did right.
Speaker 1:
Yes, I actually eaten a squid. I first came out from a little pond that they have.
Speaker 2:
Oh, you fish your own squid.
Speaker 1:
And then they slice it open and then, like, the squid is still moving on the plate, please stop Okay. You lost me there. You see, the technical one was like beautiful.
Speaker 2:
How was it? Did it taste good?
Speaker 1:
It was good, yeah, very fresh.
Speaker 2:
Was it your first time? Yes, you just said you know what I'm feeling? Squid, I'm in Japan. Why not?
Speaker 1:
Yes, fish it out and slice it open.
Speaker 2:
Are you daring? Do you usually try a food like this? Because I am not very daring when it comes to food, really, yeah, no, my sushi is like imitation crab, like I don't eat like the raw stuff. I'm scared. No, but good for you, maybe one day I'll try it.
Speaker 1:
Yeah, it's nice. Yeah as long as on the plate, it's fine.
Speaker 2:
When you fish it, that's moving. You're like, okay, today's kill.
Speaker 1:
Yeah, put it in the plate.
Speaker 2:
Yeah, and then for your business partners or other real estate agents, do you guys ever get together and ask for advice on like the market or selling homes, buyers, renters?
Speaker 1:
so for our team, within our own team, there's the six of us. We have team meeting Three times a week Monday, once a Friday, we just talk about what's happening to all our listening our clients to. And then when our newer buyer agent need help, it's you know we need we get on the zoom call, you know why, the way to help with them. And then within our company, all of all of the top producer, we do a once a week team meeting, a company meeting to talk and pick up, ring with each other, exchange ideas.
Speaker 1:
That's awesome yeah once a week and then Once a year we do conferences. All the Asian realtors get together and do a conference. Last year was in.
Speaker 2:
Okay, another flex. No big deal, no big deal.
Speaker 1:
And then we also do lobbying at the Capitol Hill for fair housing just to make sure that the laws are in our favor, because this year I think we have quite a bit of lawsuit in the real estate world.
Speaker 2:
I actually heard a little bit about that. My goodness, it's always something over here.
Speaker 1:
Right, so we need to talk to Congress about what's fair and what's not.
Speaker 2:
I love that you're out there in Congress voicing your opinion. I love that.
Speaker 1:
For voicing my opinion for the people.
Speaker 2:
Yeah, no, what inspired, you? How important is that to you?
Speaker 1:
That is the reason to work, I mean, otherwise there's no point.
Speaker 2:
Yeah, no but I love that too, because you're not only looking out for the realtor community but, of course, the people. We want to have our fair laws. We want things to be not so controlled, and I don't know, not in our favor, you know, but things are kind of like for the benefit of not the middle end or the smaller people. You just want it to be fair, right, right.
Speaker 1:
And everyone deserves a roof over their head.
Speaker 2:
Exactly.
Speaker 1:
We have in our country. We have so many problems right In that society. There's so many homeless people, there's so many migrants that's looking for a life in a new spot and I see them not being able to go into a home and that's heartbreaking, right. So part of me wanting to encourage an investor to invest their money on housing versus stock is that they have the money, they can purchase the home instead of having to sit vacant, and once they purchase it, they can rent it to whoever needs to rent them. So that's, you know, that's helping the society. I feel like.
Speaker 2:
I love that because you're a little kind heart right there. Do you see a difference between Chicago and the DMV area in the market?
Speaker 1:
So DMV very transient. Like I said before, people move every two years. It's because of the way that our job market here is revolved around Congress. We have election year coming up, Nobody knows what's going to happen?
Speaker 2:
Oh my gosh, no.
Speaker 1:
All of their, not just the congressmen right, all of their aides work for them would move in and out and also the lobbyists on the other side that work on different issues. They have different needs. Depends on how the numbers turn out, so there's always a shuffling every two years.
Speaker 2:
So I guess in Chicago is it the opposite.
Speaker 1:
Yes, much longer People don't. So people who move to Chicago, they tend to rent first because they're afraid. They're not sure if they can settle in with the cold yeah that's understandable. But after that first winter and they're like I got this, let's settle down. And then they never leave. But if they were to leave they would have left out before the winter show Before the winter even shows up.
Speaker 2:
I mean, I understand. I hear that the winter over there is harsh.
Speaker 1:
It's harsh, but they're prepared for it.
Speaker 2:
I don't know about us here. We get like two little inches, yeah, and then the whole show down.
Speaker 1:
Yeah right, yes, over there is like two feet of snow. I want to see a house.
Speaker 2:
Let's go, and you're just like this is weird. Are you used to that? Like, okay, let's go out in the snow? Are you like I'm not used to this yet how are you with that?
Speaker 1:
So luckily I have a team on both sides to handle the business.
Speaker 1:
So over there I do have a partner that knows the area better than I do and can teach me a few things about a new area. I've been in DC for 20 years so I know the side street. I know like every building basically I know. I know the floor plan of that building has like small rooms, Like that building, the bathroom is tiny. I know those little details and there were like a certain corner of the closet that tend to have a leak.
Speaker 2:
I know, like you, step there and makes this creaky sound. So be careful. Oh my goodness.
Speaker 1:
And there are units that I've sewed twice Like oh, I've sewed this one before.
Speaker 2:
Oh, this one again. Not surprised, or? Okay, I love the top.
Speaker 1:
So yeah, that's DC. For me In Chicago it's like it's a grid and they all look the same to me.
Speaker 2:
Right and then.
Speaker 1:
so I have a partner that helps me out, teach me a few things about the new area, the different laws too, the legal legal world. But Chicago has a little bit more lawyers. The law schools are good, I think.
Speaker 2:
Must be.
Speaker 1:
So, yeah, it's laws a little bit more strict in Illinois than DC, virginia, maryland.
Speaker 2:
I would think the opposite, because we're in DC, so like I don't know, yeah, yeah, I'd be like they're a little bit more chill, but apparently not. And then for your employees, how did you find them? Like, how are you locating the people that you're like? Okay, because I know with business owners or anybody who owns a business, it's hard, like with retention or finding the right people. So how do you go about that process?
Speaker 1:
It's hard, it is not easy. The funny thing about real estate is where all the realtors are competing for business and at the same time we're working together for the business right. So in every deal there's two sides to the transaction. I would push in the seller, do it on the buyer. The realtor works together Like we have a common goal. Good realtors would have a common goal of getting the transaction done by a buyer. Seller wants to sell, seller gets the money, buyer gets the house right. So happy, well, and we all get commissions.
Speaker 2:
Yeah.
Speaker 1:
So that's in the perfect. Well, sometimes it doesn't happen, sometimes it does, as working on those transactions, it's how we get to meet other good people and learn how to deal with the bad ones. Yes, yeah, so once we, you know, find the good ones that were comfortable, that's sort of like an interview. So every deal, every transaction is sort of like an interview, like, do I want to work with this guy again or not?
Speaker 2:
Oh, not yeah, Right yeah.
Speaker 1:
So yeah, or even on a negotiation on the price. Negotiations like oh, this, this, this person negotiate a lot for their client. They're good at negotiation, you know so let me get this guy. We have a bad so yeah, okay, so through the deals. It doesn't happen with a lot of other business, so it is pretty unique to them.
Speaker 2:
Yeah, it is a quite unique situation To the real estate market. Yeah, and then hold on.
Speaker 1:
I just had a question on my brain and sometimes our client, our buyers, would want to become a relative too. Okay, yeah, because they, yeah, they were like oh, you make 3% commission so easily. All you did is show a few houses or went a few doors.
Speaker 2:
They make it sound so easy.
Speaker 1:
No, so it's like well, why don't you take this test and see how it goes?
Speaker 2:
And then there, your best one you got now, or something, something like that.
Speaker 1:
Something like that.
Speaker 2:
And how important is it for a home buyer clients of yours to have a good relationship with you guys, like making sure that you guys you know you have to meet a realtor and it's the right fit or it's not the right fit. How important is that to you to establish like a good relationship with your clients when you're selling or buying?
Speaker 1:
Well, it is a relationship business. It's very important. Even if they don't find the right house the first time around, we always build a good relationship with the client. Yeah, and even after they close, we keep that relationship After the house is sold. That's. That's actually where it begins, Because I want to nurture that relationship for the next three years. When they ready to sell, they come back to me. And then I have people who just keep buying, even though they move. In three years they don't. They don't sell, they want to rent it. So then I help them find renter and manage a place, and then after that they buy another one, and then that's how they grow their wealth and that's how I help them grow their wealth.
Speaker 2:
And they know, with working with you, they like you so clearly they're coming back. You're doing something right. What's that secret sauce? What do you think about you that clients are like? I love Danny, I'm going to go to him like a million times.
Speaker 1:
Well, not a million, but, you know, like three times. Genuine genuine. When I first started the business, my coach told me the key to success in real estate is knowledge, trust and care. So I have to. You have to know that we will take market well. Your client have to trust you and you have to care about them and they have to be a genuine effort. You can't be a fake realtor.
Speaker 2:
Yeah, I know I feel like people will sniff that out in a heartbeat, right?
Speaker 1:
Yeah, hopefully, if they have a good intuition, you know.
Speaker 2:
But how important was it for you to have a coach Like how did that help you in your career and do you recommend it for other people?
Speaker 1:
So I haven't had a coach when I was a solo agent because I'm already like motivated and worked all the time. But last year when I started team up with another agent, the coach is very important in terms of keeping the team insane. To me, the coach is like a therapist. I secretly call my coach a real estate shrunk.
Speaker 2:
That's a good one. Essentially, that's what they're doing, and helping you with right. Yes, yes.
Speaker 1:
So they've seen a lot of other teams and other realtors. You know success and failure and they can advise what to do, what to talk about, what to think. Between me and my business partner we have a quirky you know arguments from time to time, but we compliment each other really well, like, the things that I'm good at are just not the thing that I'm good at I'm not. So we have a good compliment.
Speaker 1:
Yeah Yin, and yang right there, yeah yin and yang yeah, and then yeah, she's just Muslim and I'm LGBT and our clients that don't merge. And within our team we speak seven different languages.
Speaker 2:
Wow that's impressive.
Speaker 1:
Yes, and we have all sorts of diverse cultural backgrounds and differences. So having a coach to kind of massage those differences to make it Navigate it better. Yeah, yeah, yeah, make it more harmonious.
Speaker 2:
Yeah, I love that. No diversity is so important.
Speaker 1:
It is.
Speaker 2:
I feel like People want to go with people that they feel familiar with or can share the same experiences. I love it and All diverse people, like here at Alamon, we have people that are Spanish, we have half white people, we have Muslim. We've got the whole cultural parts. I feel like we're missing an LGBTQ plus. I always tell my boss excuse me, and they're just like well, we got, where are they? Can they apply? I'm like I don't know.
Speaker 1:
And that the high part is you can't like, seek them right. You can't just advertise that. Oh, this is the checkbox that we're missing. Yeah, it comes naturally, yeah no, I love that.
Speaker 2:
And Just to wrap things up, what piece of advice would you like to give to our listeners? It can be whether it's about real estate, life travel, anything.
Speaker 1:
Well, peace yes, amen. Yeah, that's that's important. So that's what we need right now, so much tension right now.
Speaker 2:
I would love to have world peace, please, tomorrow. Yeah. Yeah, oh, yesterday yesterday in that part. Yeah, yeah.
Speaker 1:
So it's, it's hard, it's. I don't know why people like conflicts. I don't understand that. If there's a way that thinks and work out for everybody that that would be best, it's. It's it's been a problem for the past 2000 years and it's it's not a something that anybody can solve in one day. But we, we all should participate in and Do our best. Yeah it's great to love.
Speaker 2:
Yes, that's such a good note. Thank you so much for being on the podcast and for your time and your style, everything we thank you for letting me see that.
