I SURVIVED REAL ESTATE 2024
The Norris Groups 7th annual award-winning event, I Survived Real Estate, is Friday, October 25 at the Nixon Library in Yorba Linda. Our 17th annual black-tie gala will benefit Make-A-Wish. Since 2008, together we’ve raised well over $1,000,000 for charity!
In a year of lingering inflation, housing shortage, sticky high interest rates, national affordability challenges, a dangerous war and an uncertain upcoming election are just some of the headwinds we face as an industry and a nation. What will the FED do as year year finishes out? How big will the FED decision loom on this year and the expectation of a better 2025? Oh yeah, there is that little decision the country is going to make as this year looks like a big presidential election in terms of what the economy will look like for the next four years. Our panels are always some of the brightest minds to help us tackle topics we never thought we’d have to consider and how they might impact real estate.
In this episode:
- Joey Romero welcomes guests and introduces Craig Evans, CEO of The Norris Group.
- Craig Evans introduces Anne Grey, CEO of Make-A-Wish Orange County and Inland Empire.
- Craig introduces Bruce Norris, market timing expert for The Norris Group.
- Discussion on real estate market trends and forecasting.
- Comparison of new home prices vs. existing home prices.
- Analysis of California median home prices vs. U.S. median home prices.
- Insights on the Moodometer and emotional decision-making in real estate.
- Recommendations for young investors.
Episode:
Narrator  Welcome to The Norris Group real estate podcast, a show committed to bringing you insights from thought leaders shaping the real estate industry. In each episode, we’ll dive into conversations with industry experts and local insiders, all aimed at helping you thrive in an ever-changing real estate market. continuing the legacy that Bruce Norris created, sharing valuable knowledge, and empowering you on your real estate journey. Whether you’re a seasoned pro or a newcomer, this is your go-to source for insider tips, market trends and success strategies. Here’s your host, Craig Evans.The Norris Group, proudly presents, I Survived Real Estate. industry experts discuss evolving industry trends, real estate bubbles, inflation, and opportunities emerging for real estate professionals. We want to thank our Platinum partners. uDirect IRA Services, San Diego Creative Investors Association, White Feather Investments, MVT Productions, Inland Empire Real Estate Investment Club,DBL Capital, Douglas BrookeHomes and Realty 411Magazine. See, isurvivedrealestate.com for event details, information on all our generous sponsors and to connect with our speakers.
Joey Romero  All right. I hope everybody enjoyed their dinner, but it is time to begin the programming. So, I’m Joey Romero, in case anybody doesn’t know. Thank you. The first thing I want to say is we’re only here for one reason. Yes, charity, right? But for me, this event has everything to do with Aaron Norris, and nobody would be in this building if it wasn’t for that man. So can we just give him a hand of applause? Because I know he’s listening. All right, well, it’s my privilege to welcome all of you tonight. Thank you so much for your support. It means the world to us. I get the pleasure of introducing our new CEO for The Norris Group. He’ll tell you all about what we got in the store, and after this, like, I’ll just be around you guys, but I’m going to turn it over to our new president and CEO, Craig Evans.
Craig Evans  Hey, first of all, I want to thank you guys for being here. I’ve had the opportunity to go around and talk to many of you tonight, and I can’t thank you enough, because, as Joey said, without Bruce and Aaron’s vision for what this event is about, it’s not about making money. It’s not about how we network and do business. It’s about one thing, raising some money for what we’re doing tonight, to help a lot of children that are a lot less fortunate than we are. So at the bottom of my heart, I can’t thank you enough for giving money, right? It’s a shameless plug for giving money to help children that are on their death bed that we’re hoping to pull out. As a dad of two, I can’t imagine being in that scenario. So I thank you for pouring into children, okay, I really appreciate that. Now, with that said, we got a busy night, so we’re gonna move we’re gonna move quickly, because I got a lot of content and a lot of things that we wanna get through. But first, I’ve got a big history of military in my family. I’m very passionate about several things, but the main three things I’m very passionate about, first and foremost is my faith in Jesus Christ. I’m unashamed about who I believe in and what I stand for. Listen, that doesn’t make me a perfect person. You put your faith in me, I will fail you within the first five minutes, right? But that’s who I stand for. Secondly, is my family. I’m unashamed of it. I’m a family man. That’s what I stand for in day in and day out. Secondly, I believe in the country that we live in, this is not a political statement, regardless of the side of the aisle that you’re on, I’m proud of our country. So I’ve got a friend here tonight. We’ve got a good group. There’s a group White Feather Investments. Buddy Rushing has become a good friend of mine. If you, if you guys don’t know Buddy, you should really pay attention and kind of look at what he’s doing. Some great things with veterans, about helping them set forth financial freedom for themselves, great product and a great business that he runs. But I got the opportunity a few months ago to meet a guy that has grown up through the military. New buddy has done very well, Jimmy. Where’s Jimmy Barber at?Jimmy? Come on up. Jimmy has become a good friend of mine. Jimmy was a sergeant in the Marines, right? You nervous?
Jimmy Barber  Oh, absolutely.
Craig Evans  Okay, all right, so I’ve asked Jimmy if we can, I’d like us all to stand we’re gonna say the Pledge of Allegiance. I’ve asked Jimmy to lead us in that. Thanks, buddy.
Jimmy Barber Â
Well, first and foremost, I’d like to thank you for the orange and green color crayons you gave us, Craig. On behalf of the Marines. I pledge allegiance to the flag of the United States of America and to the republic for which it stands, one nation under God with Liberty, liberty and justice for all I was nervous, okay, okay, alright.
Make-A-Wish  When a child is fighting for their life, there’s one truth that touches us all. Every child deserves a childhood. A wish creates irresistible joy for a child, and they need it most. It sets off a wave of unit as communities work together to brighten that child’s alike. The whole spirit of what Make-A-Wish is and does that isn’t just life changing for one individual or one family, that is world changing. Grant a wish today.
Craig Evans  So, I had the privilege just about eight weeks ago, nine weeks ago, to meet the new CEO of Make-a-Wish for Orange County and Inland Empire. I’d like you to welcome her to the stage right now. Ann Grey.
Anne Grey  I changed my hair just recently that pictures from about 10 years ago. Time for a new one, but it is such. Thank you so so much for being part of inviting us to be part of this event tonight, it’s such an honor to be here with all of you and represent Make-a-Wish. The Norris Group has been supporting us since the inception of this event, in 2008 this event’s raised over a million dollars for charity. So please give yourselves a huge hand for that. Make-a-Wish as part of Aaron’s legacy of choosing us as the beneficiary of this event has been such an honor, too, and for those of you who don’t know about Make-a-Wish, our mission is together we grant life changing wishes for critically ill children. And there are five types of wishes a child can wish to be, to have to go to meet, to give. Did I forget one? No, I got them all, and they’re all so sweet. And my favorite one is to give, because some of the wish kids choose to give back to the community, to their family, to their friends, to their schools, to their fellow friends in the hospital where they’ve been receiving treatment. So it’s just such a special thing, and a wish is truly a lasting wish. It has an impact that really makes a profound difference, not only for the child to have something to look forward to during their treatment, for the families to create lasting memories and to have something to talk about other than treatment and their child’s illness, and it also creates a tremendous impact on the community, who really rallies together to make wishes possible, and we have some very important things to do in Orange County, in the Inland Empire, we granted 271 wishes last year. We have over 500 wishes waiting right now. So we have a lot of work to do to raise funds to be able to grant these wishes quickly, and you are all a part of that. So we could not be more grateful and without further ado, because I know you have a tight program, I really want to share with you some of the wishes you’ve helped make possible. So this event specifically, has helped Elijah meet Jeff Bezos. It’s helped Abigail go to Disney World with her family, and it’s helped Diego go to the Nike Headquarters. Those are some of the wishes, and this year’s wish, with proceeds from this event, Alexander’s wish was to have a gaming computer. And Alexander is pictured here. He is a young boy from Fontana battling cancer, and has a passion for drawing and a love for video games. His wish was to have a custom built gaming computer designed exactly to the specifications. And those of you who are into gaming you know, this is a thing. With his computer, he can immerse himself in his favorite games, providing a joyful escape, especially during his chemo treatments. Alexander is excited to use his new computer, not only to play games, but also explore his dream of one day working in the video game industry. His favorite color is blue, and reflects his calm strength as he navigates his journey. He loves spending time with his sisters, walking outside and most of all, enjoying video games together. So thank you to the generosity of everyone involved in I Survived Real Estate, Alexander’s dream has become a reality. The joy and hope this brings him is immeasurable. The gift of a gaming computer will allow Alexander to stay connected to what he loves most, giving him happiness and strength as he continues his courageous fight. So thank you to everyone here. Thanks. Thank you everybody.
Craig Evans  Thank you. Anne. All right, without further ado, I want to get started. I want to get into why we’re here tonight to listening to some of the forecasting and things that are going you know, we talked a minute ago about Aaron, honored to know him in my life, and Kaaren and I were talking a little bit ago about the effects that he’s had on our lives, but more importantly, a man that has become not just a friend, but almost like a second father to me about how He’s poured into my life and the way he’s taken and shaped some of the things I view, not just from an economic or real estate perspective, but from a worldview perspective. That’s Bruce Norris, so if you will give him a question, round of applause. Come on up. Come on over here. You look like there. Yeah, nope, right here, first, right here. I’m gonna guide you along now, pretty close.
Bruce Norris  Oh, what are we doing here? Yeah, we haven’t. We haven’t. Pretty hard we are since just so you know.
Craig Evans  Yeah, bear with us as we make this work. So, Bruce, we wanted to do this a little different tonight. All right, we did kind of a, if you don’t, you got to talk into the mic. They won’t hear you. You know, we did a fireside chat back in June, and we got good results out of just having the dialog right now, I wanted to start going through so I want to kind of look through some things that you do and start to talk about what happens for the next few years, or for the next year into 2025 but I want to look at it from using the six comps that you really have historically kind of landed on. So if we can, let’s start out with affordability.
Bruce Norris  Okay.
Craig Evans  So, I think we’ve got the screens there. You gotta, you gotta use that one. All right.
Bruce Norris  So, when I originally did the research, I was trying to find, what ends a boom? What allows a boom to pick up and go again? And this was the first chart that I hit on that ended a boom. And it’s interesting, a lot of very smart people get this wrong. They think when affordability goes back up, the real estate market does better it does not, because the difference is the mood has changed. So you have a repetitive number, 17% in ’80, ’89, 2005 and then it got lower. Remember, 2006 affordability was very low because we were pretending everybody could qualify for a loan, and by the way, and so this what’s interesting about this chart, very telling you get you have affordability go down to maybe 12% in 2006 it goes all the way up to over 50% so did that help the market? No, you know we had to do when it was over 50% when it was the most affordable number on this whole chart, we had to bribe people with eight grand to buy one because they were afraid. So now we’re down below 17, so you have to be very careful about what’s next. Okay, now there’s, there’s other charts. So I don’t want to go through the whole thing yet, but this is a domino chart that leads to other charts not doing well.
Craig Evans  Alright. So let me ask you two things I’ve seen off of this, you know, affordability rating over the through most states, it has started to drop over the last couple years, right? We’ve got an affordability housing crisis that’s now coming into play, each cycle as we look through this has had different levers that were being pulled at the time, you know, going back all the way into 1980 right? Each one is there was different events that happened. How is this particular cycle different from an affordability of what caused it? How we get, how is this cycle different from others?
Bruce Norris  Yeah, it’s a really great question, and a very pertinent one too. You have the biggest pile of loans sitting where people are probably never going to get rid of the house they have, whether they live in it or not, they have a two or 3% mortgage rate, and it’s the only time they ever got to do that. So, a lot of that inventory is going nowhere. Even if they leave it, they’re going to keep it, because they got a 3% mortgage rate. And so there’s a lot of inventory that’s not going to show up, and it’s not going to become an REO because their payments less than rent, because rent exploded and your payment was fixed, and you know what? That’s just preventing a lot of inventory. So there’s, you know, there’s other ratios that usually exist. Usually builder inventory is 15% of a market. It’s like 30 or 35% because there’s nothing else. But that creates another problem, because builders, you know, sometimes they build too much of one thing. So you can have too much of a particular type of house, and you can get your own little pocket of problems, because you have a time frame usually attached with a construction loan you to do your house is done, but you got 20 of them, and only two are selling. So that creates little pockets of problems that are unique. So this is a unique time.
Craig Evans  So when we’re looking at this, one of the things I was looking at is Joey and I were pulling out these charts and kind of refreshing and getting data updated every time we’re coming out of a valley of that, there’s really quick upticks back to the affordability.
Bruce Norris  Yeah. And what good does it do to other charts? None.
Craig Evans  Well, all right, so, but my bigger question is, what do you believe some of the lagging indicators are that’s leading to that that causes those strong upswings? Do we see any of those things coming into play like we’ve had over the last three cycles, because they were created from a different reason? Are we going to see the same type of quick upswing? Do you think out of those because of lagging indicators that you would look at?
Bruce Norris  Well, once again, you can have a quick upswing in affordability. There’s absolutely no value to the real estate market. It just doesn’t, it’s not a math formula. It’s an emotional reaction to, what do you want to take the risk to buy a house? So in every case, the market got worse two years after your affordability reached its low and went back up. Sometimes it doubled. It went from 17% to 32% that didn’t help the market. You sold a lot less homes. You had a lot more inventory. You had a lot more foreclosures in every cycle, until now.
Craig Evans  Right.
Bruce Norris  So that’s what’s interesting. Where’s the foreclosures going to come from? It’s probably not, you know, that’s what’s unique. When you look at all this stuff, you go, I just share with you know, this is when I look at charts. I don’t go in with a preconceived conclusion. I always let them speak to me. And so it’s always interesting when you run into something like 1980 or I’ll go back to ’74 real quick. ’74 interest rates were about seven and a half, and then they doubled in the next six or seven years. So naturally, what happened to prices? They tripled. So interest rates doubled and prices tripled. And that negates everybody that’s ever told me, Well, of course, when interest rates go up, prices go down. Can we just look at this one set of years? You can’t say that. But what’s really confusing to me, and I still this, is the one little section of years. I go, wow, in 1980 to ’81 you had how much inventory we have now we’re freaking out at what 3.6 months, at 24 months, 24 months of inventory, 17% interest rate, 10% unemployment. What was the price damage the next two years for California real estate? Zero. Now that’s one set of data I don’t know how to figure out, and they had a fairly healthy rise of foreclosures, but only to where it was one in four of the market. So that’s what the this is not easy to figure out, because if you let the chart speak to you, it’s not always consistent. And so the big inconsistency for us now is we got blessed with this ridiculous interest rate that did a couple things. It let prices go up so far that it will be very hard to recover affordability. Okay, because your interest rates are going you know, they’re what do we think? Six and a half is really terrible now? Well, guess what? Historically, it’s not.
Craig Evans  Right.
Bruce Norris  Right? But even if affordability goes back up, it doesn’t help other charts, not immediately.
Craig Evans  All right, so let’s, let’s go to the next one. We’re looking at new home price versus existing home price. Right now. This is from Cal Poly Pomona. They were the only company that I know that charted this, and then they’ve also shut down the report. So this is, but historically, what happens is you get demand that exceeds your what you thought your supply was going to be. You’re a builder. You’re building houses, and when you run out of houses, the demand goes to the existing inventory and puts pressure on that price. So what this is saying is, at the peak of every market, the existing inventory gets more expensive than new houses. It doesn’t make sense, except forguess what? Human nature is at play in this you want one so bad, and the builder doesn’t have any, you go and overspend because you get 20 people bidding on the same house. It happens at the peak of every cycle, and it’s a comp. So that’s what I when I started working on figuring out I didn’t just want to get one comp. And that’s basically what affordability was. I wanted to say, Okay, let’s look at other telltale signs and see if they rhyme and tell the same story. So, one of the questions I want to ask you out of this, you and I were talking briefly earlier, when I’m comparing this back to the affordability chart.
Bruce Norris  Right.
Craig Evans  You know, we can see at different points, and it was always in line with what’s happening with the the cycle itself. There was inversions of pricing from where existing home was more expensive than new homes were more expensive. Existing homes were expensive, and it was always happening in the same swing, right?
Bruce Norris  Right. So, let me just say the only thing that’s important to me is the inversion. I don’t care about what happens after that, because I now wait to the next inversion. So the years between, let’s say we’re looking at the chart. The only thing that’s important to me is the inversion that happened in ’05, where the existing home went over that I know that we’re nearing the end of the cycle now that would have been true, except for we were playing with financing, remember?
Craig Evans  Right.
Bruce Norris  You could just lie in your loan app, and no one cared. So I don’t care that that blue line stayed over for two years. To me, it’s immaterial. Once it crossed the line, it told me we were at the end of the real cycle. And so that’s what I look at. The inversion tells me what I want to tell, then it that chart doesn’t mean a thing until the next inversion to me.
Craig Evans  Well, so that’s my question. Was where we’re at right now, and what’s happening in the market, and the the nuances in this market that we’re in right now. Do you think that inversion is elongated? Or do you think there’s something that says, hey, it’s going to happen quick, or we may wait and see an inversion for another few years out of this?
Bruce Norris  Many years, the fact that the inversion happened recently means we have to wait for the next inversion, and that means you have to have a gap. So yeah, I’m not, I wouldn’t even look at this chart for a long time. It’s done its job.
Craig Evans  Okay.
Bruce Norris  It’s told you it’s over.
Craig Evans  All right, let’s go to your third comp that you use. So, California, median price to us home median or the US median price.
Bruce Norris  Right. So, you know, you have a history. You go up past 250% what happens then people have a chance to move their house in California and buy two houses in Florida or something. And so that leads to that type of activity, and then it can go on sale. So, you know, 2007 and eight that was like the all time sale. It approached 150% of the national number. And what’s interesting is people were fearful right then, instead of going, that’s on sale, people said, that’s scary. And so it’s interesting. You know, I like charts because I can, it removes the emotion to me. I can look at this chart and say, well, 2007 and eight. That was a sale time. But so going forward, we have now, what, a little over two times again, I look for this when it peaks, mostly, I don’t worry about the interim as much as I think, okay. And also it when it rhymes with the other charts, so that they it wasn’t intended, but they do tell a lot, a lot, the same story.
Craig Evans  Okay.
Bruce Norris  Okay.
Craig Evans  Number four, oh, this is one that Joey created for us. I forgot we’d put this one so it’s, I wanted to compare California, which was the last one in US home, and then Florida versus the US home median price.
Bruce Norris  And it’s really very similar chart, because Florida mimics the national number very, very closely, which is good, because you can have anybody migrate to Florida from anywhere, because it’s the same price as where they are, pretty much.
Craig Evans  So, for you know, we, and I’ve talked with several people tonight, we’ve got new investors that are just started this year in. Investing, and we’ve got season investors that have done hundreds of millions of dollars in investing sitting in the room. If you’re playing poker, and this is your poker face. What does this chart tell you when you’re looking comparing California’s as a, if we want to call it, a regional, local market, compared to other hot beds, and then a US market? What does this chart tell you?
Bruce Norris  I know that this chart is going to mature and become closer and closer to California because of what’s going to happen to Florida. So one of the charts that we don’t have tonight, but this is the wealth movement to Florida. So the billions of dollars that migrate to Florida is the number one state in the country, so much so that it’s more than number 23456789, and 10 combined. It is the landing spot for billions of dollars in migration of wealthy people that takes its toll over time. So this chart isn’t telling the whole story. To me, that’s this is the beginning of the next California in Florida. So California diverse itself away from every but every place, and we came twice the median price. But now it’s losing people. California is losing migration pretty consistently, in large numbers. You know, certainly the number one state of losing migration, Florida and Texas are the number one recipients, but Florida is receiving a lot of money. So I think this chart, 10 years from now, it’ll be interesting that this becomes more and more close. I think Florida starts separating itself from the national price.
Craig Evans  Okay.
Bruce Norris  I don’t know how it doesn’t happen.
Craig Evans  So, I know the comp five is another one you do, but if you can, I’d like you to jump back down to the moodometer on number, chart number six.
Bruce Norris  Go forward. Okay, okay.
Craig Evans  So, I’m gonna get out of the way on this one.
Bruce Norris  Okay I’m gonna…
Craig Evans  We’ve got people that are brand new to the moodometer. We got people that are seasoned to it.
Bruce Norris  Here we go. That’s what I want. Okay, so what we did is we took, over a long period of time, the percentage of the income that you were required to spend to buy a California house. So this just went back a long way. So, you know, we can give you this chart, but goes back all the way to 1980 that’s a long time, and so remember when you had 17% affordability? That was a peak. So 17% affordability in 1980 equals 56% of your money went to a real estate payment. So a type, is hypothetical. Doesn’t say you’re going to get qualified for that. It just means that that’s what will would have been required. So let’s go to, let’s just go to the peaks, 199,6 see, that’s an interesting, no, excuse me, no. 1989 back up. 1989 was another peak. 55% of your money had to go to real estate. So the modometer was telling you that’s over as well, talking, you know, along with the other ones, the other charts saying this is kind of over. Now, remember, in the 90s, it got really affordable. The price got soft, and we got down to 35% of your budget went to California real estate, and then it went crazy. So 2006 and 760, 8% of your budget went, remember, we had to lie to get on, like, get a house loan. I don’t know if somebody I was really I had written a report in 2005 called the California Crash. And then prices went up the next year, and I’m going, Okay, I didn’t make any sense to me, because all the ratios were already reached. And I interviewed a lender in front of an audience of hundreds of people. Thought it was going to be a fairly long interview with one question. I said, I’m just curious. I said, stated income loans. Where does the income number come from? And without batting an iron from hundreds of people, she said, Oh, we just make it up. And it was a pause while I absorbed that thing. Well, every loan is fraudulent. Well, that’s not going to turn out well, and as we know, that did not. So now, now think about this. This is a moodometer. It calibrates the mood of the participant. When you were trying to buy something in 2005 and 2006 you were competing against 10 other buyers, it constantly went crazy. Let’s go to, yeah, 2011 and 12. In 2012 we wrote a report. We predicted the downturn, but then the downturn just laid there. The moodometer was at 28% not 55 it was half of it, and the more all of the you know, the volume was way down because people were afraid. So now go forward to the whole cycle. To me, this is a calibration of the human participant. It’s the best cheat sheet in the world. You will be afraid in 2009 10, 11, and 12, but you should buy with both hands, because you’ll be rich when it goes back to a year like the other years, where it goes to 55 and everybody wants it. This is the best cheat sheet there is, because that is how we make decisions. It’s emotional. It’s not math as matter of fact, we want it more as everything else wants it to, that’s just what happens. So, so right now are we, how long have we stayed at over 60% in that history? We have it. Now we’re going to stay there, but see if we can’t get back to a lower number, then we are not going open price. We’re just not, so California, now, when we wrote that one last report, I think we talked about, you know, you can basically sit there and say, we’re going to stay at these prices for years, because we do have to build back in a better, lower number for mood, because not everybody’s excited about but look at your volume of sales in California. It’s not 450,000 it’s 250,000 people don’t want it that much, but there’s just enough demand, and because the supply is restricted, because you don’t want to move your house with the two or 3% mortgage, that is a balance. We don’t have builders building houses in California. That’s another thing you know. Used to be 150,000 houses showed up at the end of a peak, we built 50 or 60,000 so that’s not inventory, though California may get lucky and be stable, but it absorb all its upside, I think, for a long time.
Craig Evans  So, I want to keep this moving, because I want to, I want to include you with some of the other people tonight, but last question I want to ask you before we bring up two other panelists here, if I’m a young investor sitting in the audience trying to learn this industry, what are the two additional comps that you would recommend they look at to pay attention over the next 12 months, as we’re reading cycles, as we’re looking at things, what are the next two comps that you would say? Are some other than these six? What are some of the two that you would look at?
Bruce Norris  Well, I don’t know that I would say they’re comps, because this is like a combination of things. So I don’t know that I would try to create new comps. I would take a look at the people’s willingness to buy by looking at the volume of sales, because that’s an indicator that people are returning back to a willingness to buy. Right now, you know, as you know, in Florida, you have no problem selling something that’s 350 to probably 425.
Craig Evans  Right.
Bruce Norris  You have much more difficulty selling something that’s 500.
Craig Evans Right.
Bruce Norris  So, I think the economy generally, now this is outside of the scope of just real estate, but would it assist if we had lower interest rates? It probably would. But all that does is lower affordability. But I know that other charts sometimes don’t sing along with that.
Craig Evans  Right.
Bruce Norris  So, I think, you know what? I think I would, first of all, I would rather be in a state that’s receiving wealth and population, let’s put it that way. Okay.
Craig Evans  Very good. Bruce, thank you so much. You can switch over to this one, if you will.
Narrator  We’d also like to thank our Gold Sponsors, Inland Valley Association of Realtors, Keystone CPA, NorCal REIA, NSDREI, Pasadena FIBI, PropertyRadar, The Collective Genius. Thompson Group, Aloia Roland, Coldwell Banker Town and Country. See, isurvivedrealestate.com for event details. For more information on hard money loans, trust deed investing, and upcoming events with The Norris group. Check out thenorrisgroup.com. For more information on passive investing through the DBL Capital Real Estate Investment Fund, please visit dblapital.com.
Joey Romero  The Norris group originates and services loans in California and Florida under California DRE license 01219911. Florida mortgage lender license 1577 and NMLS license 1623669. For more information on hard money lending go to thenorrisgroup.com and click the hard money tab.