From Roof to Sewer: The Hidden Disasters That Can Kill a Sale With Fred Glick, René Pérez Jr. and Chris Gustavel Of Arrivva

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

• Uncover hidden solar contract pitfalls. Learn how outdated solar agreements can create lien issues and complicate sales
• Discover essential tips for buying a home with solar panels
• Hear why skipping a sewer inspection could cost you thousands
• Waiving inspections in a hot market? The risks, the rewards, and what you absolutely need to know
• Compare real estate practices across markets, which market makes transactions easier, and why
• Get the latest market update on how tariff announcements are impacting interest rates and mortgage trends

In this episode with Fred Glick, René Pérez Jr. and Chris Gustavel

What hidden deal-breakers could kill your home sale? 

In this episode of We Fixed Real Estate, Fred Glick, René Pérez Jr., and Chris Gustavel of Arrivva uncover the unexpected pitfalls lurking in real estate deals. From tangled solar contracts that won’t let go to sewer line disasters you won’t see coming, they break down the risks homebuyers and homesellers need to know. Should you trust a pre-inspected home? How do real estate market trends in different regions impact your deal? And what’s really going on with interest rates? Don’t sign anything until you’ve listened to this one!

Resources mentioned in this episode

• Fred Glick on LinkedIn
• René Pérez Jr. on LinkedIn
• Arrivva
• SolarCity
• Phase 1 Environmental
• Consumer Financial Protection Bureau

EPISODE TRANSCRIPT

[00:00:16] Drew Thomas Hendricks: We Fixed Real Estate with Chris Gustavel, René Pérez, and Fred, who is anxious to say something.

[00:00:22] Chris Gustavel: He can’t wait.

[00:00:26] Fred Glick:  SolarCity. SolarCity was bought out by Tesla. Let’s say you have these nice little solar panels that were put on 12 years ago. And basically, you thought you paid for them and why the hell do you have to do anything with it? You just they’re yours, right? No freaking way. There’s a contract you signed 12 years ago, It puts you in with the local power company.

You could never get out of these things. Until now, there’s a payoff that’s buried in there, say 15,950 dollars or 16,950 something like that. But you can’t pay it off till 2035 or whatever date it is. Yes. Company more than anything. You can’t contact them. They have an AI robot that’s an idiot.

It said take Beavis and Butthead and make an LOM and put it as the SolarCity slash Tesla contact customer information thing. They had an office in San Mateo, closed it. There is basically no phone number. You cannot get anything done. You can’t get anything paid off early. You can’t get it removed. And we lost the deal because of it.

[00:01:47] Drew Thomas Hendricks: What?

[00:01:48] Fred Glick: Yes.

[00:01:49] Drew Thomas Hendricks: So the loan was through SolarCity?

[00:01:54] Fred Glick: No, they bought it originally through SolarCity. They paid cash for it. But you had to get into this agreement with the local power company that you’d be giving them back power. We even were at a point where the seller was going to take them off. But we couldn’t get the lien cleared.

There’s the thing called a UCC that goes on the title. It goes with the property until 2036 or whatever it was with like a 15, 16, 000-hour buyout. You couldn’t pay it off early and get rid of it.

[00:02:24] Drew Thomas Hendricks: Wow. I mean, I’ve got a solar loan through Tech Credit Union, but it’s

[00:02:30] Fred Glick: Two different things.

[00:02:31] Drew Thomas Hendricks: Good. Thanks. You got me worried.

[00:02:33] René Pérez Jr.: And that’s the big thing when you’re buying solar: you have to look into the details.

Like, is it a long-term lease where you have a. You know, huge pay up on front and then you don’t pay a monthly payment, but then at the end of the lease, you have to have like a buyout clause where you can keep the solar panels at the end or get them removed. Or if you’re actually paying down monthly the actual leases, and it’s paying down the purchase, and it’s not a lease.

So they’ve, it was complicated. What over complicates this the most is it’s a company that was bought by Elon Musk and they’ve just kind of let it die. I mean, if you look into the conspiracy of SolarCity, it was partially owned by either one of Elon’s brothers, and Elon Musk just wanted to buy it out.

And he overpaid it. So Elon Musk was sued for overpaying for a company that didn’t make sense to purchase. Even though like Tesla’s has like their solar stuff still going on, a lot of like the old leases that were through SolarCity those have kind of just been ignored.

And if you look through Reddit and sorts, they say like, “Oh yeah, I tried to cancel and they just won’t respond. So they’re just in my roof and I don’t know what to do with them.” there’s a couple of Reddit posts like that, but the problem and the problem is what happens is that these leases don’t make sense, right?

It’s like when you buy a car and you’re leasing it for 2 years, it’s kind of simple. You can take it to a to a dealership and that’s it, right? But with the solar panels, they’re in your roof, and nobody’s going to work for free. So if the lease is over, someone has to go there, replace and remove them.

We have the cost right now where it costs around 4, 500 dollars to get them removed. So even though, you know, at the end of the lease, the companies would or should go pick them up. The reality is that it’s a 20, or 30-year lease. At the end of that time frame, the technology is far superior. So, the company is not going to want to take the equipment.

So it’s a, it’s a leading loss. So they’re just hoping that people say like, “Hey, you know what? We’ll just keep them here. We’ve been living here for a long time, and they work just fine. So yeah, we’ll buy you out and keep the solar panels.” But it doesn’t make sense. And I think that is a partial fault of so many credits from the subsidies from the California from the federal government where like there’s no incentive to keep them because you can just get new ones and it’s cheaper, right?

[00:05:06] Drew Thomas Hendricks: Oh, yeah, they’re cheap now. We’ve got the opposite problem. Our solar company went out of business and now I don’t know how to get it serviced.

[00:05:15] Fred Glick: This is pretty much the same thing.

[00:05:18] Drew Thomas Hendricks: We have a loan. So, I mean, I’m paying another company, but no one wants to service the rent.

[00:05:24] Fred Glick: Okay.

Well, is your loan really any good? Because it’s like a constructive eviction, and constructive eviction means like you’re, you’re a tenant and the landlord just won’t fix the plumbing and you don’t have water for, you know, it’s 10 days. That’s he’s basically telling you get out. He’s giving you the freebie. So now you go back to your loan company and say, “Hey, you partnered up with guys who are gone.” I mean, you know, I can’t get any service from it.

So the value of this thing that you help facilitate is now pocus. Okay. Now we’re going to get into something big kid. So this will make sense to you. It was, okay, a guy bought a piece of real estate and the bank lent him money. And then he found out that the thing was completely polluted and it was just worthless, the land. So the bank sued him to get you know foreclosed on him.

He sued the bank said, “Wait a second. You should never have given me the money. I didn’t know this was going to be a problem. You should have done your due diligence.” And that’s what created the Phase 1 Environmental, when you’re buying a commercial property and the bank is lending on. Every single one of them will want that  Phase 1. That’s why. Same thing here with solar panels, in a twisted way, but it’s a possibility.

And boy, we need a lawyer on the show. Somebody does class-action suits against big companies because this is a fun one today, kids.

[00:06:59] René Pérez Jr.:  The takeaway, Drew, is maybe with your, with your loan, if you can get them serviced, that means that the solar panels are worth less. So you shouldn’t be paying the full amount.

[00:07:07] Drew Thomas Hendricks: Well, no, there’s a list of contractors out there, but it’s like buying a car. I mean, if you buy a car, five years later, the car dealership went out of business, you still have to pay that car loan. I mean, I bought the panels. I bought all the technology.

[00:07:22] Fred Glick: But if it was the company that guaranteed the service of fixing them and they went out of business, that’s not the case?

[00:07:29] Drew Thomas Hendricks: There’s no guarantee that, I mean, the company sold me a solar controller. And so if the solar controller goes wrong, then the company that built the solar controller is the one that’s going to honor the warranty. Basically, basically, it’s just the contractor went out of business.

[00:07:48] Fred Glick: Okay, I didn’t realize that.

[00:07:49] Drew Thomas Hendricks: SunPower went out of business, but I basically just bought a bunch of panels and hired them to install it. A whole different thing for those still listening. This has been a very interesting start to the show. Share your stories down below.

[00:08:12] Fred Glick: Phase 1 Environmentals.

[00:08:13] Drew Thomas Hendricks: Was this a seller or a buyer that,

[00:08:16] Fred Glick: This is our buyer.

[00:08:18] René Pérez Jr.: We’re actually dealing in now with tooth with, with both. Right? So right now, we’re going to get out of a contract because of solar issues, but we’re about to get into the listing where they also have solar panels, so we need to apply and have a plan as like how we’re going to make sure that before closing and this is the other part, right?

When you hire a listing agent and you tell them the list of what your house has, as soon as you mentioned solar panels, a good real estate broker, a good real estate agent will know like, “Hey, let’s prepare the house for sale.” And a part of that is figuring out what needs to happen to transfer the lease or to buy out the lease and what is cheaper, have an action plan so that you’re not under contract and then someone wants to renegotiate with you. Because…

[00:09:06] Fred Glick: Let’s make sure you can buy it out or what the deal is. And especially if it’s a SolarCity, boom, we now know. People just took them, but our people, they didn’t want this because they can have a big liability with these things. So,

[00:09:23] Drew Thomas Hendricks: So what’s the seller gonna do for the next buyer?

[00:09:26] Fred Glick: It’s not our problem.

[00:09:27] Drew Thomas Hendricks: It’s not their problem, but five tips buyers need to consider when they’re ing out that solar.

[00:09:32] Fred Glick: We’re not out of the contract yet, but it, it, they’re being a little bit difficult. They could have solved it, but they,

[00:09:39] René Pérez Jr.: Well, no. Well, the problem is that there’s no real solution.

I mean, that’s, that’s the, so in the beginning it was more of like a, “Oh. We’re chief negotiators, and we don’t want to give any concessions to the buyers to just figure it out later.” But now that they realize that we’re going to get out of the contract, I mean, they’ve tried to be to contact Tesla to figure out, you know, what are the options, and problem is that Tesla is not responding.

So that’s the main issue.

[00:10:05] Fred Glick: The only thing we can go by is what’s on the contract.

[00:10:07] Drew Thomas Hendricks: And it’s 15, 000 dollars to escape the contract.

[00:10:11] René Pérez Jr.: Yeah, I mean, the real solution that I came out with is the seller is under the assumption that they paid off the solar panels. So I said, “Look, have a lawyer write up a contract saying we have fully paid off solar. If, and in the event that Tesla comes back and says that you owe the solar panels, us as a former owners will come up and pay off Tesla for the damage performed and for solar panels.”

[00:10:43] Fred Glick: Right. Put that money in escrow ’cause who knows where the seller’s gonna be.

[00:10:46] René Pérez Jr.: Secondarily, you know, having the sellers before the new owners get the house, getting rid of the solar panels. Now, in theory, you could, actually, there’s a good business idea. In theory, you can have someone keep the solar panels until that date from 10 years from now. And then when Tesla is like, “Hey, where are my solar panels?” You as a you as a,

[00:11:15] Fred Glick: Pay maintenance now instead of later. Get them off.

So charge 10 grand and store them. Yeah. The problem is you still have this thing called a UCC that’s attached to the title, and you have to get someone from Tesla, whatever, to sign off to remove the lien. They’re the only ones who can do it. Well, basically screwing everybody. And some of these mortgage companies even look at it as a lien that would be ahead of theirs.

It’s a freaking mess.

[00:11:48] René Pérez Jr.: Right now, the point, like the seller has not paid Tesla. So they bought the house back in like 2018 or something, and they just bought it as this. They were like, “Oh, okay. Well, we’re not paying anything. We just owned it.”

[00:12:01] Fred Glick: Right. You know what? The real estate agent didn’t read the contract, let them know what they were getting into.

[00:12:06] Drew Thomas Hendricks: What about the

[00:12:08] Fred Glick: Guess who company? Guess who was probably their real estate agent?

[00:12:11] Drew Thomas Hendricks: We’re not naming names, companies. It might have been the listening agent, the current listing agent. Now there’s pie in his face.

Give me 5 things buyers should consider when they’re purchasing a house that has solar.

[00:12:29] Fred Glick: Well, it’s just. I think it’s just a big, giant thing at the big one thing, just solar, get me all the fricking details.

[00:12:38] Drew Thomas Hendricks: Figure out if the solar

[00:12:39] Fred Glick: The contract, give me everything, throw it into AI, send it to a lawyer, whatever you do with it.

[00:12:45] René Pérez Jr.: So, here’s what you do if you are buying a property and there’s solar. Try to verify what company it is. Find out if it’s a lease.

[00:12:55] Fred Glick: You can get that off the title report, by the way, because there’s a little check for the lien. Yeah.

[00:13:01] René Pérez Jr.: Yes. Check the title report to verify the solar. Four, make sure that it is still functioning and to check the electricity bill. Request the bills.

And the fifth one is if it’s not an actual purchase and it’s a lease, have the former sellers buy it out. So that’s your five, the list of five things to do if you’re buying solar. You’re buying a house with solar.

[00:13:32] Drew Thomas Hendricks: Chris, what’s your favorite solar story?

[00:13:34] Chris Gustavel: I have. We don’t have much solar up here in Seattle. So,

[00:13:38] Drew Thomas Hendricks: You know, I’m wondering about that. I mean, there’s got to be some solar.

[00:13:41] Chris Gustavel: There is, but not like California. I mean, you don’t look out. I don’t look out my window and see in 10 roofs, not one solar panel. So

[00:13:50] Fred Glick: State law that says any new construction must have solar.

[00:13:53] Chris Gustavel: No, no.

[00:13:54] Fred Glick: Right.

[00:13:54] Chris Gustavel: So, I mean, they have them, but it’s very few.

[00:13:58] Drew Thomas Hendricks:  There’s like, not 1 house on the block that doesn’t have solar. The guys that door knock have done a good job. I mean, there’s everybody has solar down here.

[00:14:08] René Pérez Jr.: No, I mean, it’s cost efficient. I mean, if you’re getting the rebates and the incentives, might as well get it done.

I mean, the big issue is solar in the past was that there was no way to storage, but now you can purchase them with the power banks. Right? So you can actually store the energy. So it makes more sense now. So. No, it’s a, in theory, it’s what you want to have, right? I mean, that’s why new construction, EFF, solar, I mean, actually, one thing that I probably should have added in the list is how many panels do they have, right?

And I forget the term for this and probably should have a list in front of me, but there’s two ways that the panels work and function. One of them is the converters are like if one panel breaks, the other ones are still functioning or the other system is where if one panel is not working, the rest stop working.

So, verify, you know, what type of converters the panels have.

[00:15:06] Drew Thomas Hendricks: I think that would be in series or in parallel.

[00:15:09] René Pérez Jr.: Yeah, there’s, I think there’s a specific, there’s a specific term for that, but that might be it.

[00:15:15] Fred Glick: I’ve also been told by people. This sounds like what was typical beginning of a video on tech talk.

I’ve been told by people that the Tesla storage panels are really made by Panasonic and Panasonic has them available for sale and cheaper without the Tesla name on it, but it’s exactly the same. I don’t know if that’s still the case, but Tesla’s not the only place to store your power. So stop around kids.

 Let me go all the way down to the sewer.

[00:15:50] Drew Thomas Hendricks: Oh yeah. From the roof to the sewer.

[00:15:53] Fred Glick: From the roof to the sewer. Yeah. Just real quick thing. Cause this came up without a solution yet, but I just want to make you aware, especially in Northern California, when you look at a mostly single-family house and, you know, nice school district.

They’re going to have inspections already done. The agents going to have the regular home inspection. They’re going to have a termite report, and they may have a roof report, but usually that’s about it, but they don’t have a sewer. Some do every once in a while. We’ll get a sewer, especially if there’s a bad tree in front of it, you know, just to check.

So I had a question from a client who said “Well, they’d be worried about the sewer. Can you put it is as a contingency?” So. And this is in a market where you have, you know, 58 people bidding, looking at the house and a lot of bidding, you know, even 10 bidding. Everybody who has gotten all the disclosures and put in an offer waives the inspections because they’re done already.

But the problem is if they didn’t do the sewer, how do you know what’s going on underneath? So what you’re allowed to do, and this is in the California agreement, is actually go into the property and inspect it with proper notice for the 1st 17 days of the contract or the entire contract if your contract is less than 17 days. And you can go in and let’s say, get the sewer done.

And if it comes back that there’s, you know, just a terrible situation that’s about to bust and blow up, a bunch of things can happen. Number one, definitely, if you just decide, “Hey, I’m walking away from this property.” And the seller is just going to keep your 3 percent deposit. You agree to that and be done with.

The second thing is we can try and go back to the owner, have your agent go back to the owner or the listing agent. I’m sorry. And say, “You guys didn’t check for this, and I’m sure you would have had you thought about it or had the chance or whatever. Can you maybe meet us halfway and pay for half the repairs?” Or something like that?

Try to negotiate something out of, you know, it’s fast to do it. I’m sure there’s some lawyer there who’s got or some, some LLM that’s filled with the evil lawyer, you know, like Denny, Denny Crane LLM kind of thing. There we go. That’s an invention for you. It’s go back to the seller and, and kind of say, “Look, you know, or your inspectors missed this.” Because they should have known based on the something, you know.

[00:18:41] Drew Thomas Hendricks: This is after close or like?

[00:18:44] Fred Glick: During the contract to try to get them to do something.

So what I’m saying is give it a try, especially when you’re forced to waive the inspections because everybody else did and you had zero chance of getting the property. Okay, so that’s, you know, no answer to it, but I would do it anyway. It’s really the bottom line. Everybody do it.

Exactly.

[00:19:12] Drew Thomas Hendricks: Gonna get more, crack more flies with honey than vinegar, so try to be nice.

[00:19:17] Fred Glick: And we heard about guys that can check out underneath the foundations, underneath the houses near the foundations, crawl spaces where you can’t get into. There’s now a company out there with a drone that gets in there. So the drones are now more controllable.

[00:19:36] Drew Thomas Hendricks: The subterranean drone?

[00:19:38] Fred Glick: Subterranean drone. Yep. So, well, you know, the software is getting better and better and better. So it’s great. I mean, we had

[00:19:51] Drew Thomas Hendricks: To go back because if you waive all contingencies, you figure that’s the risk you’re taking to get into the house.

[00:19:58] Fred Glick: Yep. But can’t even get into the ballgame unless you do it.

[00:20:03] Drew Thomas Hendricks: Is there a way to raise the, “I waive all contingency.” And that’s what you’re saying, waive the contingencies with a disclaimer. So

[00:20:12] Fred Glick: You gotta waive them; you gotta waive them just under a different section of the contract that allows you to just go in and do inspections.

You go in under that, then you come back and negotiate it for something bad. And they could say too bad or, you know.

[00:20:28] René Pérez Jr.: I mean the real way to do it, and I know it’s more expensive to do so, but if you’re a particular buyer that knows exactly what they like and what they want. You know that there’s not a lot of properties on the market.

So what you do is as soon as the house go in the market first day, you coordinate seeing the place and getting it inspected at the same time. That’s the, that’s the only real solution where you’re going to be protected. It’s more expensive for you. But it’s, it’s really the only way to actually win a competitive bid.

[00:21:04] Drew Thomas Hendricks: And so you’re walking, you’re touring the houses with your inspector.

[00:21:07] René Pérez Jr.: Yes.

[00:21:09] Drew Thomas Hendricks: Yeah.

[00:21:10] Fred Glick: Yeah. You have to check this with the listing agent, butthat’s a way to do it. Or if you have a friend or somebody or contractor who you know really knows what they’re doing, hire them for a couple hours. You know, don’t, don’t answer. Do it for free. Come look. I’ll pay for your time. Come out, take a look at the property. Let me know it’s just not falling apart. I’m going to move in tomorrow and it’s going to collapse, but you know, you know, there’s going to be a little stuff. There’s 10 grand, a little this valve and this little piece and that, you know, gives you some piece of mind.

[00:21:44] Drew Thomas Hendricks: Yeah, you will. I mean, probably can’t really inspect a sewer during an open house, but it is an open house.

[00:21:52] René Pérez Jr.: Yeah. So what the feedback that I’ve gotten from agents is sometimes they’re like, “Hey, maybe not during the open house, but hey, look, let’s schedule some time, you know, during the week or after the open house or before the open house and you can bring your inspector.”

[00:22:06] Fred Glick: Yeah, that’s that make more sense.

[00:22:07] René Pérez Jr.: Yeah, and you know, what I’ve seen. Yeah, another business idea for you. What I have seen is other open house guests having the same questions about the inspection and then 2 buyers getting together and saying like, “Hey, we both want to get an inspector,” and then you split the costs.

So, you know, you’re making friends along the way and, you know, yes, they’re your competitor, but also maybe after the inspection, one of you is not going to want to bid on the house. So that’s something to

[00:22:39] Fred Glick: Like a co op.

[00:22:40] René Pérez Jr.: Yep. I mean…

[00:22:41] Fred Glick: That’s this kind of it. If you’re an inspector, here’s a, here’s an idea, which come in and you pay 300 or something like that, or whatever the cost of one inspection would be as a membership fee for a month.

Okay, and you get 15 people to do it and maybe 8 of them actually use it. 1 of them does 2. 1 of them does 1. You kind of co op that kind of thing that cuts this cost down. That could be interesting. There you go. And every appraisal should continue with the buyer. Why you have to get a new appraisal if you change companies or, well, it’s a pain.

You can convert them, but a new appraisal, if you’re a new buyer, three days after, you know, the first buyer didn’t qualify for some reason. Well, what do you need a new appraisal for? Just use the one that’s existing. FHA, VA, yeah, transferable. I’ve got about a conventional, not another number 75 on the list of things that need to be changed about the real estate world. Now that we’re slowly getting the CFPB back.

[00:23:50] Drew Thomas Hendricks: Are we?

[00:23:54] Fred Glick: Slowly? That’s what I’m hearing today.

CFPB. So basically, they came in, wiped it out per se, and then they started dropping cases where they were ready to get people fine millions and millions and millions of dollars for screwing people and, you know, that that’s kind of the whole thing. And now they don’t care.

[00:24:15] Chris Gustavel: No, they don’t care. Yeah, sounds about right.

[00:24:19] Drew Thomas Hendricks: How common are waiving inspections up in the Seattle area? I mean, I know in Silicon Valley, everyone does a left and right.

[00:24:26] Chris Gustavel: I feel like most of the listings have, have an inspection. So.

[00:24:30] Drew Thomas Hendricks: Yeah, they’re starting to get more.

[00:24:33] Chris Gustavel: So they can waive them because they’ve already,

[00:24:35] Drew Thomas Hendricks: Oh, they come pre-inspected.

[00:24:37] Chris Gustavel: Yeah, they come with an inspection. So, unless we just had 1 that we sold, but it was like, almost a year old. So they did another one.

[00:24:44] Drew Thomas Hendricks: Is it almost like that certified resold vehicles? Like, it’s already been inspected. It’s clear.

[00:24:48] Chris Gustavel: Yeah, and they show us the report too. Right? Yeah.

[00:24:51] Fred Glick: Yeah, we have. Here’s what we do on our listing. We’re getting the inspection done. We got one coming up in, what’s the name of it? Arcadia. I couldn’t think of it. It’s right near El Cedena. So, I assume we’re going to get somebody from, who’s hit by the fire to buy the house. Anyway, we got the inspection done. And so now what we, these, these sellers are great. They, they want everything perfect. So, what we’re going to do is we’re going to take the inspection.

We’re going to show the things. That are wrong and we’re going to show, you know, we’re going to mark them repaired, repaired, repaired, repaired, give everybody the invoices for their repairs and it’s going to be clean and all done. They’re canting the house. We’re getting a little termite damage, clear it up, getting rid of all the little critters.

It’s going to be nice, clean, and we’re ready to go. It’s such a pleasure in Northern California. In SoCal, it’s like, you know, you sign a contract, they don’t even give you disclosures. You’ve got no idea.

[00:25:58] Chris Gustavel: In Southern California, they’re like that?

[00:25:59] Fred Glick: In Southern California. They’ve been doing it this way for years.

And then not only do you then pay for your inspections, you then get the disclosures. And if you don’t like the disclosures, you get out of the deal. But the old school method, they didn’t think about giving it ahead because you know, we’re the, we’re the sellers. We’re tough guys. No, but it’s like you’re, you’re renegotiating.

You know, somebody would have come in with a lower price. Had they known that the neighbor’s dog barks 24/7, you know, things like that in the SPQ and TDS, but you get it’s just a dumb way of doing business. It just really is, but these agents won’t change it because that’s all they know. But we love it when, you know, in Northern California, closing in 15 days, everything’s done, clean, most deals are just peachy.

It’s a pleasure. Here, it’s a war. It’s crazy. And don’t get me started on the Southern California escrow companies. That’s the entire, entire. Anyway,

[00:27:04] Drew Thomas Hendricks: You’re on a roll. You might as well just…

[00:27:06] Fred Glick: No, no, no. I’m saving that one up.

[00:27:09] Drew Thomas Hendricks: Okay.

[00:27:10] Fred Glick: I’ve spoken about it before. What else? Chris is in the middle. Chris and I are working, you know, with interesting repairs that take forever because they didn’t do inspections ahead of time, added sewers.

Has he done a sewer on this house? Something Burien? Do I pronounce that right again?

[00:27:33] Chris Gustavel: Yeah, Burien. That’s right.

[00:27:34] Fred Glick: Burien. Right on the water. Very cool. You know, we did the sewer inspection and found out basically your thing was completely whack. And then

[00:27:45] Chris Gustavel: It’s really bad.

[00:27:48] Fred Glick: And it’s the bottom of the driveway.

[00:27:52] Drew Thomas Hendricks: Was it an old terracotta sewer or what kind of sewer was it?

[00:27:55] Chris Gustavel: I don’t know. I mean, what was that house built in the 70s?

[00:27:59] Fred Glick: Yeah, it’s really like 70s beach housey, like folk-rock.

Actually the, the owner, the new buyer is going to come on the podcast and tell all. We’re going to podcast, and we’re also selling his property.

So we’re going to do a full hour, we’ll split it into two half hours, the new place and the old place. But, I’m going to tell the whole sewer story, but it’s just taking forever.

[00:28:28] Chris Gustavel: It’s going on four months. Isn’t it going on four months now?

[00:28:31] Fred Glick: Something like that.

[00:28:31] Chris Gustavel: It was before Thanksgiving, because I remember them talking about having Thanksgiving there.

[00:28:37] Drew Thomas Hendricks: Oh my. And they can’t move in until it’s fixed. Otherwise, like,

[00:28:42] Chris Gustavel: Oh, they can’t flush the toilet. They have no sewer.

[00:28:45] Fred Glick: It’s no plumbing. Yeah. Now we’re getting close. It’s just the indoor cement needs to be done. So, allegedly,

[00:28:54] Chris Gustavel: Why wasn’t that done yet? I mean, did he sneak over there? Like, he wasn’t supposed to sneak over there and look?

[00:29:01] Fred Glick: Probably. Yeah, the listing, “You’re not allowed to come by and see anything.” Yeah, right, lady. You’re going to have a guard there?

For four months. Oh, my Lord. Yeah, exactly. Well, that’s Chris’s fun. And then, you know, last week we had one of the closing like eight days cash deal, everything’s done. Thank you very much. So you never know. It’s always something. We’ll go from hell on back. Anyway. All right. René, it looks like he’s busy doing something, so we’ll dump him off of this, but I think that’s about enough annoyance.

[00:29:40] Drew Thomas Hendricks: This was interesting. One question. So, last week you gave a masterclass on interest rates. Oh, all the time, because I think it’s changed.

[00:29:54] Fred Glick: Today when it was announced that the tariffs are absolutely positively going to happen against Mexico and Canada, the market dropped.

I think it was like 900 points. The stocks, the Bitcoin, everything got killed. And where does the money go? U. S. Treasury 10 year, that’s the safe haven. So interest rates have dropped again today. So it keeps going. Yeah. And there was some CEO, some real estate, you know, genius company came out and said, you know, rates are going to be seven to eight this year, like, no, you’re an idiot.

You have no idea what you’re talking about. I forget who you are, but you’re an idiot. He made it on CNBC because he’s the CEO of something.

[00:30:48] Drew Thomas Hendricks: For those of you that have not seen it recently, you gotta go on Arrivva’s homepage and see Fred Glick, back in the day, host co-guest on CNBC, suit and tie.

[00:31:01] Chris Gustavel: I have seen it. I can barely recognize him.

[00:31:03] Drew Thomas Hendricks: That’s a treat. That’s looking good.

[00:31:10] Fred Glick: It was fun. It was fun. I had a great producer. Anyway, that’s enough.

[00:31:17] Drew Thomas Hendricks: That’s what we got.

[00:31:18] Fred Glick: This has been enough of We Fixed Real Estate. We keep fixing it and fixing it and fixing it.

[00:31:22] Chris Gustavel: It doesn’t get fixed.

[00:31:23] Fred Glick: We just, it’s just the problem just won’t go away.

It’s like we’re elven. Anybody that knows the reference?

[00:31:32] Chris Gustavel: I don’t.

[00:31:34] Fred Glick: Elven. I’m just going to leave it at that. Google it, kids.

[00:31:39] Chris Gustavel: Elven . All right.

[00:31:39] Drew Thomas Hendricks: Google and Elven. Well, this has been another episode of We Fixed Real Estate.