Podcast

Disrupting the Norms in Buying and Selling Homes With Fred Glick of Arrivva

Fred Glick, a Broker, Real Estate Realist, and Founder of Arrivva, holds a stellar track record with over $2 billion in residential transactions while grounded in a lifelong passion for real estate. Take notes as Fred Glick gives you real estate hacks and tips in Arrivva’s We Fixed Real Estate Podcast where he shares his expertise and insights.

Arrivva is a comprehensive real estate and mortgage brokerage, catering to qualified motivated buyers, sellers, and mortgagees with a commitment to brokering with love, integrity, knowledge, a well-defined plan, and a transparent flat fee structure.

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Here’s a glimpse of what you’ll learn: 

  • Discover the crucial decisions behind selling and buying homes, especially in weather-sensitive regions like Los Angeles, amidst El Niño storms
  • Fred unpacks the implications of sellers setting buyer broker fees, navigating lawsuits, and the industry’s adaptation to an evolving commission landscape
  • Delve into the Texas real estate scene as Fred challenges the necessity of exclusive buyer-broker contracts
  • Learn about non-exclusive contracts, termination challenges, and advocating for client-friendly approaches in Texas realty transactions
  • Uncover the potential of personalized video ads in revolutionizing real estate marketing
  • Navigate the complex impact of short-term rentals on housing markets
  • Join Fred in reimagining property tax policies for economic growth

In this episode with Fred Glick

Join us as Fred Glick shares invaluable insights into the intricacies of selling and buying homes amidst unpredictable weather conditions, such as El Niño storms in Los Angeles. From strategic open house planning to upfront disclosures, Fred unveils a revolutionary approach to real estate transactions. Delve into discussions on commission negotiations, legal battles reshaping industry standards, and groundbreaking changes in buyer-broker contracts in Texas real estate. 

Plus, explore the future of real estate advertising and the impact of short-term rentals on housing markets. Don’t miss out on Fred’s insights and opinions for fairer property taxation. Whether you’re a seasoned investor or a first-time buyer, the We Fixed Real Estate podcast is your go-to source for cutting-edge insights and practical strategies in the dynamic world of real estate.

EPISODE TRANSCRIPT

[00:00:00] Drew Thomas Hendricks: Hello, everyone. Welcome to We Fixed Real Estate. I’m Drew Hendricks. Today we have Fred Glick on the show.

[00:00:05] Fred Glick: Ready? Let’s go, Drew.

[00:00:07] Drew Thomas Hendricks: Fred, welcome to the show. Yeah, we’re actually going to talk about some important things. So today René is absent. He’s not absent. He’s out selling homes in the weather and weather is, was the top biggest topic last week with when is the right time to sell your home? Should you wait for a sunny day?

Should you wait for a better season or just sell your home? And René’s out there selling today. Fred, I know you have an update on this cause you’re about to do a new listing right in the middle of our El Niño storms.

[00:00:35] Fred Glick: So paying attention to the weather, you know, have it here on my phone to the side of my computers, I can check it every once in a while, but no, I’m not that periodic.

Anyway, we’re lucky in Los Angeles. We’re going to get a break in the weather. It rained this morning. It hasn’t really done anything in the afternoon. This is Thursday. Yeah, Thursday afternoon, February 1st. And tomorrow is supposed to be a little ugly, but Saturday is fine. And even into late Saturday night, but not into Sunday, Sunday looks.

So we’re going to do it because here’s the story. We’re going to, I’m going to do a two-hour open house on Saturday at the normal times that everybody else in the neighborhood does. And that’s the thing to always do, do it at the same time everybody else is. So people are already there. Then not do it on Sunday because of the weather because it just be ugly.

Then we’re going to have all week. And the beautiful thing about all this is it’s a little bit of an older house. And the home inspection came back and it said it had some issues. On the roof and gutters and things like that. And we think we did a little fix up and the roof service must be done on Saturday.

So we’re going to see for the buyers. This is fabulous because you’re going to see the house performing in the rain. Usually, you know, there are 9 months out of the year. It doesn’t rain here. So you don’t know what’s going to happen with the roof. I couldn’t ask for anything better because obviously, if there’s a problem, we’re going to fix it.

And then they know it’s freshly fixed and everything’s great. So we’re doing something in Los Angeles that agents just don’t do. We perform all the inspections ahead of time. And we give to the buyers the inspections and the disclosures from the seller. Because for some reason down here, they’ve been listing homes.

And once you go under contract, that’s when you get all the disclosures and then you do your own inspections. So that’s just the thing of the past. The idea was you’re emotionally connected to the house. So you’re probably going to go ahead with it. But there’s a second round of negotiation. It’s crazy.

And sellers down here don’t understand this. And we love it. We do it in Northern California. And most of the houses up there are done this way. So Silicon Valley leads the way in something. This is a great way of doing it. Anyway, so, it’ll be fabulous. Hopefully, we’ll have a lot of people at the open. We have all the virtual staging done.

That’ll go up on within the Matterport on the MLSs and Redfins and Zillows. And you’ll see it. It’s a house in Culver City. If we’re only going to go in, here’s another interesting thing. We give the owner a complete, whatever they want to do for the buyer broker fee. There’s no two and a half percent or 3% forced down them, so he decided on 1. 2 percent and the house is roughly, we haven’t set the price was like 1, 3 ish somewhere in that ballpark, 1.3 1.4.

So, the, you know, we’re going to see if that affects the turnout because this house is close to the 405, but it’s not like right on top of it. And there’s giant walls and you really can’t hear anything, but, you know, in age, you can say, “Oh, that’s too close to the four or five. You don’t want to live there.”

Only because they’re not going to make enough commission. But the flip side is there’s not a lot of houses on the market and there’s a lot of buyers. So what do you do? So we’re going to put a little note in the MLS to say, look, our buyer will want what they want the best deal.

And if then you want to add more commission on to the price of the house that you fully disclose to the buyer, we don’t care as long as we net the same. So we’ll see what happens. So they can make 8%. You know, if they want to charge the buyer that, but weather-wise, we found that little opening and we’re going to do it.

We’re going to let it rain all next week. We’re going to check the roof. Everything’s going to be fine. Do two more open houses next weekend and tell the people, come on back, take a look. So we hope that works. Just makes sense.

[00:04:54] Drew Thomas Hendricks: It does make sense. Anecdotally, I can tell you, I bought my house during a, right around this time, well, many years ago, but it was raining cats and dogs when I went out to go look at the house.

And this house that I bought was a flip. It was a flip at the time. And when I saw the house, sure enough, the front room was leaking as we were touring the house, and that made it was easy. It all got fixed. I got to see it as just as you said. Battle-test it.

[00:05:19] Fred Glick: Yeah, that’s a perfect example of what I was just talking about.

It’s great.

[00:05:24] Drew Thomas Hendricks: Yeah, what I didn’t notice was that the electrical system didn’t work and the house inspectors didn’t see that either. So right when I moved in, I had to call an electrician to get the electrical system fixed.

[00:05:35] Fred Glick: Liable. Yeah. They’re licensed and they don’t want to miss things. Trust me. They will get sued. There’s no doubt about it, especially here in California.

[00:05:45] Drew Thomas Hendricks: Now going back to setting or allowing your sellers to set their own buyer broker fee.

Talk to me about the, like the different ramifications of setting no broker fee versus a 1 percent versus a 2. 5.

[00:06:02] Fred Glick: Okay, so before all these lawsuits and justice department investigations happened the way that it used to work in the good old boys and girls network was with a wink.

Everybody established usually 2 and a half percent or sometimes 3 percent of the sale price as what they should be getting on each side of a transaction. So with the idea, and I’ve heard this from agents, I heard him say, “Well, everybody charges the same thing. So it’s all standard.” Unfortunately, that’s caused them a problem with the United States Justice Department and all these attorneys.

And that’s why they’re in this, by the way, Keller Williams settled the first suit, the big one, the 1. 8, their share was like 77 million. I think it was something in the 70s, they settled today. They know they got more paychecks. They’re right, later down the road, but maybe hopefully they have a plan to keep them solvent.

[00:07:05] Drew Thomas Hendricks: That’s a far away. I mean, that’s a huge. That’s a small portion of the 1. 8 billion.

[00:07:11] Fred Glick: Yeah, because they sued so many different people, including NAR.

[00:07:14] Drew Thomas Hendricks: Oh, I see. Oh, I see. It was a different law. It was the same lawsuit?

[00:07:19] Fred Glick: Same lawsuit with lots of defendants.

[00:07:20] Drew Thomas Hendricks: Lots of different defendants. NAR got 1. 8 billion, Keller Williams

[00:07:24] Fred Glick: Right. So there’s another company. I think it was anywhere that settled, like, before the suit was the trial, so, or I can’t remember exactly. Google it gets. Anyway, moving on, I don’t have time for them anymore. And they just did it. But anyway, that’s the way it happens. So now, nowadays, if you list the property back in those days, and you put less commission, there were agents who would literally say, and you know what the guys from – gang of guys who are on TikTok and whatever.

Even they said this, they were told by brokers, “Hey, if you’re not paying me two point a half percent, I’m not showing the property.” You know? ’cause they were, as they say in Yiddish, dons, you know, that comes out. Yeah. They’re just, I want every dollar and I deserve it. And it was, and these are million-dollar properties.

You know, this guy’s. Northern California. Yeah. So that was the mentality what I’m trying to see with this will be the 1st 1 we’ve done with under this new thing and new place in time. And it’d be fun to see what the result is. I don’t think it’s going to be a big deal because I think people are used to it now or people are scared of it.

They’re not going to sway people and buyers in this price range have a brain and they’ll still go to the house because everybody’s addicted to seeing real estate and then they’ll realize, “Hey, it’s not a problem. The agent was lying.” And then they’ll find another agent. So never, never.

Oh, let me tell you this. This is the best. I forgot to tell you this, but I want to get this out because I want to get this SEO. In the state of Texas, if you want to use a broker, who was a realtor, which is the absolute majority there, because they don’t let anybody in the MLS if you’re not a realtor, you must sign an exclusive contract as a buyer with them.

There is no such thing as a nonexclusive buyer-broker contract. Let me announce we’re changing that. Our new broker submitted all the paperwork today and we should be licensed by the time you hear this in the state of Texas to do real estate at a flat fee that is a non-exclusive contract.

You do not have to be exclusive. So you can go see houses with us. You can then go see houses with other agents. We don’t care.

[00:10:04] Drew Thomas Hendricks: But then the other agents don’t want to get an exclusive contract.

[00:10:08] Fred Glick: Yeah.

[00:10:08] Drew Thomas Hendricks: You have the freedom to go where?

[00:10:10] Fred Glick: Yeah, you have the freedom to go anywhere, but then you’ll say, “I’m not signing that.” And they can’t work without a contract.

So they’ve all kind of screwed themselves. So I’m sure there are other people out there doing non-exclusives who are not agents, hopefully.

[00:10:27] Drew Thomas Hendricks: I really never understood the exclusivity of an agent. And then you feel guilty if you break the contract.

[00:10:32] Fred Glick: Yeah, they love that. They get taught how to, like, persuade you.

And there’s all these guys, Tom Ferry and some other characters just, they train these agents.

[00:10:46] Drew Thomas Hendricks: I mean, just imagine if it was like a clothing store yet in order to walk into Nordstrom’s, you had to sign an exclusivity contract. I will only buy my suits at Nordstrom’s and that’s how I’m getting let in.

No, you can’t go to Neiman. You can’t go to Saks.

[00:11:00] Fred Glick: No, no, sorry. You can’t go to Luigi down in an Italian village. Nope.

[00:11:05] Drew Thomas Hendricks: In order to look at our suits, you have to sign a contract.

[00:11:09] Fred Glick: Yeah, that is exactly what it’s just so stupid. And that means what if you met up with a 1st-week agent, you didn’t know anything or you can meet up with someone who’s done it for 50 years, same contract, same amount of dollars.

[00:11:26] Drew Thomas Hendricks: How does someone break? I mean, so say you, you meet up with an agent, you think they’re great. Then they go out on a few houses with them and they realize this guy sucks. How does someone break that exclusive contract? You have to sign a termination letter.

[00:11:39] Fred Glick: Yes, get a lawyer. I’m sure Google it. I’m sure there’s a way out.

Because, you know, there’s no value from that person. And they, I haven’t read the contract, but I’m sure there’s things that they’re supposed to do. And if they don’t do them, the contract is, can be voided.

[00:11:55] Drew Thomas Hendricks: And if you break the contract, I believe they then have to get a referral fee for the next agent.

[00:12:00] Fred Glick: Oh, I have no idea. Whatever it is.

[00:12:02] Drew Thomas Hendricks: But something like that, but

[00:12:03] Fred Glick: I don’t deal with it. You know what, either like us and we’re good and we work together or we don’t. That’s why you look at our things that people have written about us on Google, you know, it’s the people we like to work with who like to work with us.

It works best. We don’t force anybody because it’s bad for us.

[00:12:23] Drew Thomas Hendricks: Yeah, just another time you fixed real estate or continuing to fix real estate. And that’s a, it’s a problem.

[00:12:32] Fred Glick: Every day, even on Saturday.

[00:12:38] Drew Thomas Hendricks: So as you’re fixing real estate, Google, Google seems to be fixing ads.

[00:12:43] Fred Glick: Yeah, you talk about that.

[00:12:45] Drew Thomas Hendricks: Yeah, well, I don’t know if you guys ever you need, you guys all need to follow Justin Fineberg. The guy is an AI guru and comes out with a lot of TikTok videos. We’re gonna have a link at the bottom. Yeah. But he just came out with another, one of his recent videos was talking about, Luminaire, which is a Google personalized video.

And to summarize it. What’s there’s going to be a, we’re going to tie this into real estate in a second, but basically, this video is shown for the first time the minute you watch it and on the fly, the videos created through artificial intelligence based on the ad platforms knowledge of you. So it’s really a one-to-one off video that was created just for you.

[00:13:28] Fred Glick: Okay. So what’s going to happen is you’re going to type in houses Palo Alto 2 to 3 million dollars, what’s going to pop up is this picture of these people going through these houses. You too could experience this and get a rebate at Arrivva. I don’t know. I’m making this up. I mean, but if we bought that time, we bought that slot.

I don’t even know how they’re going to sell it. Then that video ad is going to be created for you to click on. But just from the fact that you search certain things and they’ll be, obviously, it goes back into your search.

[00:14:06] Drew Thomas Hendricks: It goes back into your search. And what I would imagine there is your demographic profile.

So right now we show ads to, we have like audiences and we’ll show ads that we think are relevant to the person’s demographic profile, whereas a video, and we may create 20 different videos. So like in Colorado, we’ll show a video of a warm sunny day in December, because that’s going to resonate with someone who’s dreaming of a sunny location or vice versa.

There’s that kind of level of like human personalization.

[00:14:36] Fred Glick: Yeah.

[00:14:36] Drew Thomas Hendricks: This is what I’m thinking it’s getting to is that you’re going to type in, you know, million dollar home in Palo Alto. And if Google knows that you’ve been searching for schools searching for stuff that involves children, they’re going to, they’re going to deduce that you have children.

So you might see an ad with children running through the front yard. Versus if they’re, if you’re searching for cruises, you’re searching for that. And they know in your demographic profile that you don’t have kids, you might see an ad that looks more like the bachelor lifestyle or an ad that’s more like a, an empty nester type ad for the same exact home done on the fly.

[00:15:17] Fred Glick: Right. And remember in your search. You know, you could have hockey, you’re looking for some ointment. You could have, you know, it ties it all together and that’s, it’s going to make it incredible. It’s like, they’re going to have some algorithm pulling what’s important and what’s not. And there’s sometimes, you know, hey, somebody’s asking you about something and you’re searching for like pink dresses you know, that you never searched for.

And that’s going to be part of, it’s going to be insane for a while. It’s going to take a long time to fix. And get it right, but

[00:15:53] Drew Thomas Hendricks: It’s good. And there’s a ramification to the people, to the businesses though, because when we create a video, like say we created a video for Arrivva, you’ve approved it. You’ve watched all two minutes of it or one minute of it.

And you’re like, okay, this fits our brand standard. We’re not making any assumptions. And you go back to the kind of the older, go back to older technology with email, mail merges, and stuff. If you mess up the personalization in an email and like somehow the intel shows that they are. They like blue, but you show them a whole pink one, just because the signals got crossed your brand.

And that’s where I feared why I’d step into this very gradually. I fear that the chances of the video boosting sales is outweighed by the chances of the video not quite matching the person, right? Well,

[00:16:43] Fred Glick: 2 things I just thought of. So when we advertise, we have to advertise our license numbers. So, how does the video know to advertise our license numbers?

It doesn’t. There is this 1 thing about what they call 1 click. If you’re 1 click away from the license number, it’s okay. So it’s got to go to a certain URL. What was the other thing I thought of? I don’t remember.

[00:17:08] Drew Thomas Hendricks: I think the license numbers and stuff you’ll have to put in like this, the video should have all this content, then color, colorize it or, yeah, answer a little bit with the person.

[00:17:19] Fred Glick: I wonder if Google is going to make available to probably you guys, professionals, a way that you put in the things you want in the ad, even though it’s based on somebody else’s history, that you’ll be able to kind of preview what could happen.

[00:17:37] Drew Thomas Hendricks: Oh, I’m sure. I’m sure they’re gonna show like the scenarios and they’ve gotta have it on rails. Right on some pretty good guardrails right now.

[00:17:45] Fred Glick: Yeah, they have to.

[00:17:46] Drew Thomas Hendricks: Now, but a year from now. And then here’s something that a lot of you don’t know a lot of people don’t know, is that when you’re searching, when you’re doing all your Google searches and you’re in Incognito mode. Google still tracks.

[00:17:58] Fred Glick: Doesn’t matter. Yeah.

[00:17:59] Drew Thomas Hendricks: Google’s still tracking you. Your spouse may not be able to track you. , your search history may not be there, but Google knows.

[00:18:08] Fred Glick: That’s why DuckDuckGo exists.

[00:18:11] Drew Thomas Hendricks: So they’re the intel there.

[00:18:13] Fred Glick: DuckDuckgo download that. And it, they just kill everything. So they don’t care.

They don’t retain anything but Google. Yeah, Google and Apple, they know where you’re going ’cause they want the data. So they don’t care. They throw it out and it’s not pinned. It’s not attached to you that they know it and can come back with a subpoena. It’s just white. It’s just. But still, they know where you’re going.

So do they add that part to the search stuff that you’re looking for? And if you’re in incognito, is it going to be able to go to your non-incognito history? I mean, there’s so much to this, and not for our show because we’re not a tech show.

[00:18:53] Drew Thomas Hendricks: No.

[00:18:54] Fred Glick: But I’m sure the nerds will have a blast with this one.

[00:18:58] Drew Thomas Hendricks: But for real estate, I mean, in real estate isn’t finance in any, it’s not as protected as health.

Like what we can do in health is personalizations. Very, very limited. Versus selling a mug or selling something out, but if finances with mortgages and all that. There’s a lot of hurdles. We still have to jump through the ads, what can be said, what can’t be said. So you start to get a little afraid of what they might be injecting in there.

I could definitely see it with financial advisors and stuff with FINRA where everything has to be approved. They can’t have a link from their site. They wouldn’t want any sort of personalization.

[00:19:35] Fred Glick: Oh, that’s like the Bitcoin lunatics too. Oh my God. It’s going to be nuts.

[00:19:39] Drew Thomas Hendricks: Oh, yeah. Oh, yeah. And just to complain on my side or not a complaint, but the ads I see are ridiculous because I have to spend so much time researching so many diverse niches that if you saw the ads on my YouTube at night, when I’m watching it, they’re like, why? Why am I seeing this, all these like weird medications?

[00:20:08] Fred Glick: Yeah, it’s duckduckgo.Com. Okay. It’s all I can say. Download the browser.

[00:20:15] Drew Thomas Hendricks: Yeah, let’s do it. Last week we also talked about, the short term, the Vrbo’s and Palm Springs outlying short-term rentals and its effect on housing prices on the upside, you could probably get a cheaper house because housing prices are falling, but on the downside, it’s kind of inhibiting free market.

[00:20:38] Fred Glick: Yeah, well, here’s the thought that I had. Last week I was talking about the private school would be the best thing, but I was just, as I said before, I get the Redfin links from all over the States and there are hundreds a day. And it just kind of gives me an idea as opposed to details. But I looked at this 1, 3 bedroom, 1 bath and Joshua Tree.

Which is a half an hour north of Palm Springs, but it’s kind of desolate, hot in the summer, cool place, 896 square feet, and they’re asking 375, 000. Okay, so if you have to get an Airbnb license, you get it, you fix the place up a little bit, or have it as a weekend place, share it with four of your friends, you know, just for the rental, you know, I don’t know what the minimum rental is, but you might just be able to rent it.

And then it’s just going to eventually go back and appreciate because they’re going to fix this Airbnb thing because the values have decreased and that means their tax base has decreased. Everybody who’s had their values go down who bought it a high number should be appealing the real estate taxes based on the value of the property.

So they’re going to feel it all the towns. They are going to feel it and this is going to turn around and, you know, they have a train that goes there from Union Station.

[00:22:15] Drew Thomas Hendricks: Oh, yeah. It’s very proximity. I mean, it’s close proximity to Los Angeles.

[00:22:22] Fred Glick: Yeah. They have an airport. Yeah. It’s a little hot if you don’t want schools, but you can buy a place in California for 375, 000 dollars, Joshua Tree. Yeah. It’s like, it’s very cool.

[00:22:36] Drew Thomas Hendricks: Highly desirable places. So funny thing is I’ve now been getting all these like personalized recommendations on YouTube. And I watched one last night about, the decline and fall of ski towns in the United States, on one hand, there are these corporate entities and the upper management isn’t living in the ski town anymore.

But on the other hand some one of those towns in Colorado, 20, only 20 percent of the people there are full-time residents. So, yeah, it’s packed in. It’s packed in the winter and ghost town in the summer or in the shoulder season and your neighbors now are maybe a block or two away because everybody in between is a Vrbo so I can see the downside there and then I went down that rabbit hole a bit more and I saw another ad not an ad but a news article about how they’re gonna quad four times the property taxes for short term rentals

[00:23:31] Fred Glick: Yeah, yeah, and I saw in Chicago, they’re trying to raise the city transfer tax and what they’re doing is the higher the sale price, the more it is, which, frankly, it should be.

And then on the lower end, it’s 0 for people, which makes sense. But, you know, the realtors are going to put up a million dollars to fight it because they’re protecting rights to the homeowners. You know, it’s the commercial guys are getting hit. They should have it just for residential exclude the commercial cause they need the growth and commercial, but Philadelphia has had over 4 percent tax between the state and the city. It’s for years.

[00:24:09] Drew Thomas Hendricks: That’s amazing for short-term rentals or for?

[00:24:12] Fred Glick: Everybody’s property tax. I’m sorry. The transfer tax.

[00:24:15] Drew Thomas Hendricks: Okay.

[00:24:16] Fred Glick: Everybody’s transfer tax, but also they’ve had this thing on since sometime in the 80s or 90s, where if you’re going to improve a building or build new construction for 10 years, they can only tax you on the land or when the property was crappy.

So you don’t pay the difference. So that’s nice on the commercial side. So developers can come in and be able to sell these things to people who have a little less income. So it adds more sales. Saves people money, makes sense, yada, yada.

[00:24:50] Drew Thomas Hendricks: It seems like the market could figure itself out though, without having to introduce like property taxes. A house is a house, so keep the property taxes the way they are.

[00:24:59] Fred Glick: Here’s the answer. Here’s the answer. Wait, time out. Here’s the answer to property taxes across the entire country. I said this last week as part of the podcast. Remember, you’re looking at the same house. It’s basically cost the same. What you’re buying is real property, not real estate.

The real estate just happens to be on top of the real property, by the way, real property is what you’re really buying because you’re buying everything air rights down to ground rights. That’s property. Real estate is just the physical building that’s on there. So, we’re really in the real property brokerage and mortgage business, but we can’t say that because nobody knows what that is. It’s real estate.

So anyway, back to that idea. So if the only difference in a house in California, a house in Kansas is basically the construction cost. And, yes, it’s a little more in California. Everything should be based, real estate taxes should be based on the land value period done end of sentence. That would solve so much. And nobody’s got to appeal it because I put on fancier, whatever mine’s worth more and the other guy is worth less and he feels tax.

You know, who needs it? It’s just lands. Here’s the land. Boom. Thank you very much.

[00:26:26] Drew Thomas Hendricks: That makes a lot of sense.

[00:26:28] Fred Glick: Yeah. It makes too much damn sense. I know. Cause how do you break it out on a new sale? Is it, what’s the percentage you go by and appreciation? It gets a little complicated, but it could be figured out.

Oh, that’s my answer. Condominium the same way. Cause it’s, you know, lane keeps going up in value, so you whack out the percentage interest. Co-op is one big bill. Commercial building, one big bill. You know, condos would be a little funky, but other than that. So anyway, that’s my answer.

[00:27:01] Drew Thomas Hendricks: Yeah, I like it. Detach the, tax the property for the property.

You want to run a short-term rental? Have a business tax. It’s a business. You should be handled on the business side.

[00:27:12] Fred Glick: Here’s another thing about the real estate taxes based on just the land. Go ahead and build whatever you want on there. Spend as much money as you want. People way back in Philadelphia years ago would never fix up the outside of their house.

They’d fix up the inside because the assessor couldn’t see it. So they were worried if we put new windows, they’re going to raise our real estate taxes. So here, if it’s just on land, build whatever you want and not worry about it and spend more money, help the economy. So

[00:27:43] Drew Thomas Hendricks: Incognito mode for the house.

[00:27:46] Fred Glick: Yeah, exactly. Exactly. There we go. Tie it all together. There’s the story. There’s the headline incognito mode, real estate style.

[00:27:57] Drew Thomas Hendricks: That’s good. Any, any parting words?

[00:28:01] Fred Glick: I’ll just throw in a little bit of a commercial. We’re about to get connected with a company that’s going to give us some really awesome abilities for people to act as cash buyers, even up to 95 percent loan to value. So this is a completely different program than we’ve had before and it’s fabulous, fabulous. But more next week.

[00:28:28] Drew Thomas Hendricks: Well, yeah, I know we’ve helped promote that. I can’t wait to hear more about that. Yes. Well, this has been another episode of We Fixed Real Estate. Have a great week, everyone.

[00:28:39] Fred Glick: Stay dry.

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