Aaron Norris is Vice President of The Norris Group. His role at The Norris Group includes loan officer, investor relations, business development, as well as marketing. Aaron has been in the real estate field for over a decade having worked in the construction and design industry before joining The Norris Group in 2005. You’ll catch his speaking nationally on topics like real estate technology and innovative real estate marketing (artificial intelligence, robotics, shared economy, virtual & augmented reality, FinTech and iBuyers). Aaron is committed to keeping “Main Street” real estate investors relevant in the ever-changing real estate investing landscape.
He’s also the creator of The Norris Group’s series, “I Survived Real Estate,” which will cross the 1 million dollars raised threshold in 2020! In total, Aaron has been directly involved in raising over $2 million for charity since 2008
Aaron also works for PropertyRadar witting articles for national consumption, hosting and many other marketing responsibilities.
Episode Notes:
Narrator This is The Norris Group’s real estate investor radio show the award-winning show dedicated to thought leaders shaping the real estate industry and local experts revealing their insider tips to succeed in an ever -changing real estate market hosted by author, investor and hard money lender, Bruce Norris.
Bruce Norris Thank you for joining us. My name is Bruce Norris and today I am joined by my son Aaron Norris.
Aaron Norris Howdy.
Bruce Norris How are you?
Aaron Norris Doing pretty good. Doing pretty good, stiff neck, but you know what I’m here. Living the dream.
Bruce Norris Been a crazy year, I guess honestly, I want to start with thanking our industry for the support and love they have reached out and shown to you. So, that’s, that’s…
Aaron Norris Yeah.
Bruce Norris …very high importance to me as a dad. So
Aaron Norris Yeah, I actually had to create the videos online because you know, if I went too long without it, rumors would get started that I wasn’t doing well or I would get inundated by text messages and emails. And it was is very sweet. Lisa Hagler from LA South REIA came to the hospital and gave me a box that all these investors wrote little notes for me inspirational
Bruce Norris Ohhh.
Aaron Norris It’s very sweet. And it’s just helped the time go by faster, you know, open heart surgery was May, I had to do six rounds of chemo. And I don’t think people understood when I did chemo, I was in the hospital for five days. So, you’re just sitting there attached to a pole for five days. That’s pretty boring. So, that is done. I’m giving the body a break. I did really well, it was great to hear the doctor say I did far better than they thought possible. So, I’m doing pretty good.
Bruce Norris You know, when when mom went through cancer, whenever I would speak, there would always be someone come up to me kind of shy and say, this is an alternative method, you know, but I don’t want you to think I’m crazy for suggesting it. And then they would say it and I would go Oh, yeah, we already own the machine, you know, like a rifle or whatever.
Aaron Norris
Yeah, I yeah, I remember all that. And I have definitely had my fair share of somebody said, you might have worms, they’ve got their home remedies. You just, you know, everyone’s coming from a good place. And, you know, also being so public about what you’re going through, you have a lot of people share what they’re struggling with. And, you know, I, I’m very grateful for having done a lot of planning, you know, it’s, it’s really scary and significant others, if you’re not doing estate planning as you go along, and you’re not keeping them in the loop, or just something simple. Like, you know, if something were to happen to me having insurance that pays off all my mortgages, to where you have free and clear assets, I was, you know, I wouldn’t be able to get life insurance right now. Even if I wanted to. So, staying ahead of that and protecting your family. It’s just really important. So, I feel very fortunate and lucky, and I’m just really happy to be here. I’m looking forward to a very different 2022 to tell you that much.
Joey Romero Can I tell you a quick little funny story for the audience? So, when you, when you start your chemo, you know, it was it was almost overnight, like, yeah, you know, you talked about losing your hair, and, you know, and then all of a sudden, like, it was just like, gone, like, um, I shaved my head and then like, bam, like it was done, right. And so, you know, your dad was was flying in to, to visit as he, as he did, you know, often this year, and he walks by my office, and he’s got a buzzed head, you know? And, and he’s like, ‘Hey’, I said, ‘Hey’, ‘You trying to copy me?’, And he looks at me and I had, without telling each other. We had both shaved our heads, just, you know, just in support. And he just kind of looked at me and laughed and came in the office and gave me a hug. And he was like, you know, just it was just kind of like a, like a cute surprise that we had both done it without telling each other. It was funny.
Bruce Norris Yeah.
Aaron Norris It’s very sweet.
Bruce Norris Yeah, if you’re on the other side of that, I would say getting support is more than welcome. You know, at the hospital. This was probably the second time Aaron was there. I’ll tell this story. I had dropped him off, and then come back up probably within 10 minutes. He was up in a room. But when I passed by the nursing station, there was a buzz. And what I overheard was Aaron Norris is back. I mean, who gets that kind of reception?
Aaron Norris You know, it’s funny, one of the the side effects of open heart surgery is you don’t sleep and so when the biopsy came back, after they did the heart surgery, and they found that the tumor Inside my heart was cancerous. I wasn’t sleeping. The, I really push six weeks after the surgery, heart surgery was the earliest that they said they would even talk to me I had an appointment on week six, I was really pushing to get in. And through over Memorial Day week and right before I started cancer, I got in a mini car accident caused internal bleeding and then decided it would be a good idea to run a Thera gram Thera gun across my stomach. I checked into my first round of chemo, so completely devastated. And in such a terrible mindset. I had never been in that kind of distress before. Not sleeping, I just felt it was terrible. So, when I checked in, it was just devastation. And I was like, I need help like, I, I’m a mess. After they put me on hydrocodone got me to sleep. And I really did not like being on narcotics and sleeping pills. And I worked really hard to do other natural things. But that second round, I decided that I was going to approach it very differently. So, every time I checked into the hospital for round two through six, I would buy a ton of goodies, cupcakes, cookies. I just wanted to set the tone for myself and the crew, and know that I was not there to mess around. It was going to be a good time. I had a friend give me a disco ball. And so those of you who follow the story online, I had to walk that was part of the heart recovery, like I constantly needed to exercise. And it’s not easy to do in a hotel room. So, I was doing 21 minute, miles, 21 minute miles in the hospital with a disco ball flying around the hospital is pretty funny. And by the end, you make some connections with some nurses, and it was very sweet. And I thought they did this for everybody. They threw me a going away party. And they actually gave me goodies too. They’re like, well, it’s not as much as you’ve given us. But they put streamers, and they all wrote very long, lovely notes in the card. And the next day my cardiologist came in and he’s like, ‘What are the streamers for?’ I’m like, ‘The nurses throw me a going away party.’ And he’s like, ‘Well, that blesses my heart.’ I was like, ‘Oh, that doesn’t, that doesn’t typically happen?’ He’s like, ‘Uh, no’. So, that was cool. And then of course, your wife, Sandy thought that was cool that I was doing that. And so she would buy pizza at least once every time I was there. So, the running joke is something very similar. I would say to all of our investors who ever attend The Norris Group events, if you don’t gain five pounds, we haven’t done it right. So, I would tell the nurses, ‘Hey, if you don’t gain as much weight as I did, while I’m here, you know, we haven’t done it right.’ So, mindset really helped me get through the, yeah, cuz it was every three weeks, I did not miss a beat. I’m very grateful that I went in healthy. I think that made a big difference.
Bruce Norris Yeah. And a shout out to Dr. Rocco, who rushed the process. So, you had a chance because you were in bad shape. And we didn’t know it. And then a week later, I mean, under a week later, you were an open heart surgery because it was and they pushed it up a couple days because of the urgency of it. So yeah, crazy year.
Aaron Norris Yeah, I know a few people who had some had their heart checked out because they were also experiencing similar symptoms that I had. Luckily, it wasn’t anything like I had. But nonetheless, just you know, the healthcare system has been a little bit overwhelmed. And I’ve had some advocates that have really pushed, which has been really nice. I’ve also learned in the process. While telemedicine is fantastic. When you’re going through something like this, I’ve been told by one doctor, thank you for showing up. And it’s smart because they get more invested in you and they see you. And you know, a lot of these health care workers are just really going through it. So, while COVID has become very political, unfortunately, you know, there’s still people on the frontline that have to deal with this every day. So, just treating them with love and respect and kindness goes a long way. So, do that.
Bruce Norris Well, I think that’s true with how you’ve lived your life. And when you have an event like you’ve had it, it comes back to you, you know, so you know you had a friend call you up who’s in the physical therapy world and basically said You and I are going to have a, an appointment every week.
Aaron Norris Yeah, that’s gonna, that’s gonna make me cry. Yeah, I I’ve known this girl since the third grade. And she is, she’s got a PhD in physical therapy and she’s a yoga specialist who’s written a book. And yeah, she just said ‘We’re going to be meeting weekly what day works best for you?’ And she was really a godsend and I’ve had a lot of those little moments from you know, Joey and The Norris Group just just taking it beyond and you know, these friends I’ve learned a lot about some actually learned a lot about mom. Watching her process and the friends that stuck around and those that disappeared that yeah, that was one of my fears going in is that you have people scared, they don’t know what to say. And so, they just disappear off the map. So, that was one of my concerns. And apparently I’ve done a much better job curating friends and family over the years, because that, that hasn’t been my experience thus far. So, and our community has really been great. A handful, more than a handful of investors consistently reaching out and it’s been fun.
Joey Romero Yeah, your updates kind of gave me permission to tell people you know, because a lot of people that don’t follow you, a lot of the investors you know, that follow your dad, you know, I’d get on the phone with them, or they, they would reach out for something they, they would politely very politely say, ‘Can I, can I ask you about Aaron?’ And I’d say yeah, shoot, you know, you know, he’s pretty much an open book, if you if you follow him on Facebook, you know, he’s…
Aaron Norris He’s talking about snot falling out of his nose. Yeah.
Joey Romero So, it kind of gave him permission to, to tell people about it. And, you know, they would ask me, you know, how’s he doing? And I said, you know, what, I said, ‘He doesn’t look like a cancer patient other than his bald head.’ You know, like, he’s like, he’s gonna be the healthiest cancer patient you’ve ever seen. You know I said, he kind of looks like a, like a, like a TV villain. You know, like, like a Lex Luthor or something like that.
Bruce Norris Well, you know, what’s funny is when you’re approaching wherever room you’re at, it’s just always moaning or silence or somber, then you get to your room, and it’s like a party you go, what the heck?
Aaron Norris I had some fun times in that hotel room. I had, I’ll tell the story because it’s it’s so ridiculous. I told it one of my videos, but when I had the bleeding spleen issue, and and I was in Riverside, and they were thinking about taking out my spleen. And I said, Absolutely not. You’re gonna have to transfer me to UCLA because I’m about to start cancer treatment. And anything you do now affects the trajectory of what’s about to happen. So, absolutely not.
Bruce Norris Yeah.
Aaron Norris I had my friend, Shana, my, my co living friend who does investments in the Inland Empire area she, she was in my room, and the doctor came in and he looks seriously like he was 24. And he’s like, are you poop burdened? I said ‘Excuse me? Poop burdened?’ I was like, do you mean constipated? He’s like, ‘Yeah’, like that’s a normal term to use for somebody who because we had a good laugh about that. So, I brought that to UCLA. And I told the nurses at UCLA, I’m like, you can only use that term if you use a British accent, because it’s the only way you can pull it off. So, I had nurses coming in. Every time I was there are you poop burdened. So,we went there. I was there when one of them came out with that. And I was in the chair going, what? I shared symptoms that they had never heard before. So, yeah, the nose hair thing was a real thing. So, I think we were at dinner one time, and it happened where I like spicy food. I’m not supposed to have spicy food. But come on, you guys give me, give me something. Where without nose hair, you can’t feel it coming and you just snot balls out of your face. And it’s very embarrassing. And sort of I think it’s hilarious.
Bruce Norris To say yeah, you don’t get embarrassed. No, you get this stuff all your life intentionally.
Aaron Norris Oh, God. Exactly. I just laughed and, and the nurses like nobody’s ever told us that before. I’m like, ‘Well, I’ll see what other symptoms I can share with you that are embarrassing and funny.’
Joey Romero Do you think you ate more chocolate or bean and cheese burritos during.
Aaron Norris There was a competition between chocolate, bean and cheese. And I wasn’t supposed to really have either. But yeah, I don’t know how women have more than one kid. That whole nausea thing. That’s terrible. And I got lucky. I did not, I did not experience the, I did not experience the, the majority of the symptoms until later in the cycles. So, I was really, really lucky. So, I’m glad to be given a break that it did well. They have me on a medication that keeps the cancer at bay and has the opportunity to shrink the tumors more. And it’s the genetic testing of the tumors. It’s just come so far from when mom was dealing with cancer and it’s neat to see. So, we’re on to the next phase. I’m doing great. I’m back at work. My stamina was a little low. But I’m you know, what’s weird is you fight fatigue by you working out more and being more active. So, you just have to keep pushing. So, I find it very enjoyable to make my workout partners say, man, what’s my excuse? You have cancer. Well, that’s right. Put a fire under it.
Bruce Norris I want to thank Sean at PropertyRadar too for, you know, working with you this year through the illness and the many months of you know, semi work that you were able to do you know, because that was, that was not a couldn’t there’s no way you could do anything full time for anybody. So, Thank you Sean.
Aaron Norris Yeah. And then he pulled the, you know, we have the Data Driven Real Estate podcast. And last one we did was in, in July, right the day before I lost my hair. So, if you watch that interview with Spencer Rascoff, the former CEO of Zillow, he pulled that one out of his hat. And that was a little bit of a dream come true. That was a lot of fun. But yeah, it was. Sean has been great. And the team, Susan over there, they’ve been very caring, and I just very appreciative, I’ve just feel very supportive and had the time to do what I needed to do. Six months goes by so fast when you’re dealing with all this. So.
Bruce Norris Absolutely. Well, let’s talk about next year and your different hats that you’ll be wearing, if you don’t mind.
Aaron Norris Sure. Right now I’m back part time of PropertyRadar, I’m doing a lot of writing. So, just finishing up 2022 trends for mortgage professionals, and real estate investors more based on strategies. You know, one of the questions I constantly get, because I’m looking at the data all the time is foreclosures. And, you know, the media loves to write dramatic headlines. And I think you can’t go a week without seeing a video or a news article like a bubble, foreclosure crisis and I think investors are, our industry is going to be waiting for a long time. I think there’s several things and you’ve talked about this quite a bit. We don’t have any liar loans, you have to do more than brief to get a loan. And that’s been the case, you know, ever since the downturn, and we’ve got the ability to repay rules. Builders have really changed their approach to building where they’re doing build a suit. So, we don’t have a glut of inventory, the way they build might have to change this year, because of supply chain and wage disruption. They can’t go into contract with buyers that can’t handle a price increase along the way, because that’s happening, unfortunately. So, it’ll be interesting to see their approach. But as of yet, they, they’re nowhere even close to meeting the building volume that they were at before. We’ve also got the national playbook, the federal government, if they can create programs to keep people in their homes, when prices fall by over 50% in some areas, you know, what happens with a softer landing, that nobody’s really all that interested in seeing a huge wave of foreclosures at this moment in history, especially if it’s, you know, pandemic related. And then now you’ve got the state stepping in. So, Dad, I think I sent you that article where California just launched a billion-dollar mortgage release program to where homeowners can get up to $80,000, from the state of California, so the state is rolling out their own versions of, of help, so.
Bruce Norris Is that, is, is that in? How is that funded? Is that a second trust deed? Or is that just a gift?
Aaron Norris I think that’s just a gift. I did not, it got approved by the federal government this week. So, I don’t know, the logistics, I haven’t looked into that. But that’s on top of all the money that they’ve been throwing at tenants and landlords as well. So, they were willing to pay back rent all the way back from, you know, the start of March of the, when March when the pandemic started. So, you know, they’ve been throwing so much money at this stuff. It’s just, I’m just not seeing it.
Bruce Norris And there’s no way and also is there was there a change in the foreclosure the trustee sale rules. If I’m a winning bidder to trustee sale, there’s a time period of 45 days that the state can come in and say we’d like that.
Aaron Norris Yeah, well, not just the state nonprofits, another homeowner can come in and has 15 they had I think they have 15 days to raise their hand. And it’s been a while since I looked at that. What is that, SB 1079? Yeah, I think yeah. Anyway, the foreclosure rules have changed in California where yeah, you can have another buyer, even if you’re the winning bidder at auction, take it from you for the same price or $1.
Bruce Norris Yeah, see, the the number of trustee sales is significant when they reach the REO status, because then they affect the comps. And we’ve done those studies where it’s, if it’s a certain percentage, it’s really not a big deal. And if it gets crazy, so the odds of it getting crazy this time and actually getting back to the lender who becomes listing as an REO. There’s, I don’t see it. And the what the builder too is, was a participant in a sense, because that is at a peak market, you’re usually building 150-260,000 homes exactly in the wrong year. And we’re building 60,000 and half for the last 10 years basically. So, what happens when you buy a tract home in 2006 or seven, and then the builder auctions off the stuff he can sell all over the state? It goes for 25% discount? Well, what’s the odds of you making a loan payment when you didn’t have a down payment, and you didn’t tell the truth when you got your loan, and you could stay there for free for two or three years. So, that’s not going to happen this time. But here’s what significant error because percentages are ridiculous to use. Because if you had, you know, 20 foreclosures and then went up to 40, you could legitimately say it’s 100% increase, and that’s your headline. And then you look at the what percentage of the market it is, and it’s okay, would have to go up 1000s of percent for you to go Oh, wow, that’s a that’s significant, so.
Aaron Norris Yep, I was going to tell you that don’t, don’t buy the articles that are going to come out because the foreclosures that should have happened, you know, early pandemic are just finally making their way through all the moratorium stuff. So, you’re finally getting people being able to foreclose the probably should have not pandemic related. So, you’re always, you’re always…
Bruce Norris I was going to say, I’m sorry, just sorry, let me interject those foreclosures, by the way that were delayed just experienced, what kind of a price increase in that 18 months 35%.
Aaron Norris At least.
Bruce Norris That’s not going to revert to the lender, it’ll get bought by a cash buyer. And that’s the end of the story.
Aaron Norris Yeah, it’s not a foreclosure, it’s a short sale, it might be a for sale, you might not want to sell, but it’s a it’s neither of those things. So, that’s what’s interesting, even if you were a buyer early on this year, and you for some reason, death, disease, divorce, you know, all that had ended up in the situation, you’ve got equity. I mean, writing the mortgage professional article on strategies for 2022. I mean, just in one year, you’re looking at probably a fair amount of people, if you’re a mortgage lender, or originator being able to go back to your customers go, you can probably get rid of your PMI.
Bruce Norris That’s right.
Aaron Norris As prices have gotten. So, it doesn’t mean it has to be a slow year for an entire industry. It’s crazy.
Bruce Norris You know, Cal Poly going back to it by the end of the year, 2019, Cal Poly does a couple of interesting things. One of them, they have about 1000 properties that they appraise every two every six months. So, they have a block of properties in all the southern and northern California counties. And at the end of 2019, about 20% of their inventory was showing a negative price, year over year. So, we were slowed. We were slowing all those things were occurring. And then the pandemic. And that is, that’s an amazing result of a pandemic is that you have like the biggest price explosion, typical of their past. So, it was it was expected at let’s say in say 2017-18 those are supposed to be pretty explosive years and they weren’t and then 2019 actually started becoming almost a flat year, you don’t usually recover from that you had you had in another direction, because you have momentum. Well, boy, the pandemic kicked off every type of asset and going up and, you know, homes of all prices, even boats. So, that’s a that’s a really interesting study is what the heck happened, you know, how people reacted to that pandemic was not conservative in the sense of, okay, I’m gonna hunker down and not spend anything. They became aggressive about, about solving a life situation that maybe was overdue.
Aaron Norris I’m really interested to watch. What this has caused is more conversation around affordable housing and homelessness. So, I think they just redid the count and homelessness is up again in LA County. It’s prices have increased so much, and so have rents. I mean, in here and Florida. I have been shocked at what has transpired in just one year. In both states for my rentals is crazy. I don’t know how people are affording to live in the in either state. And with those kinds of price increases. I’m almost hoping all my tenants leave that have been with me for just one year, because in some cases, it means a three to $400 difference in rent.
Bruce Norris Well in Lee’s, in Leesburg. I had a tenant that had been there for a few years. And I hadn’t changed rent. So, the original rent that I had was 1325. Yep. And so, yesterday rented for 1995.
Aaron Norris I just had one come up to so I’m glad to hear that.
Bruce Norris Yeah, well I think that was the three bedroom I think you have a four bedroom so it’s probably more. I didn’t go crazy on the aggressiveness because I was, I kind of looked it up myself as if I was a renter, what was available in Leesburg and then I text, Jeremy. I said, what I’m looking at, there’s nothing that’s comparable for under two grand. Do I have that right? And he said, Yeah, like, wow.
Aaron Norris Yeah, I have a I have a rental in San Jacinto that was built in 2005. And it’s been one of my favorite rentals. It was a wholesale deal that I picked up in 2014. From an investor that did a lot of off market marketing. Really interesting story, but I’ve had really good luck with tenants. And this one had stayed there for five years. And I’ve, I’ve slowly handed over as I’ve gotten busier at property management duties because I can’t do everything. And I didn’t raise rent for this family for five years because they was just so good. I didn’t have to, they never bothered me about anything. Well, they moved out and they were paying 1415 that was going rate five years ago. It rented in under a week for I think it was 2395 This house didn’t get any newer. I mean, I did, I put 15 grand into it and needed a little bit of love. The area didn’t get any better. It’s still San Jacinto. I’m like, holy cow. Yeah, I was a grand off.
Bruce Norris Oh, what was? What was what’s cool about also the price increase? What did your house, what did you buy it for? What is it worth down? Just curious.
Aaron Norris Oh, gosh, I think I bought that for the mid 150s. And now it’s worth it’s easily doubled. I, I try not to look at that. Equity doesn’t seem very real. These days. I’m like, Yeah, it’s nice that it’s there. But I yeah, I’m there for the cash flow. Well, yeah, it’s it’s at least probably 350. At this point.
Bruce Norris Yeah. What reason I asked a question is that was one of the cool things that the Cal Poly Pomona report also provided was, they had a contractor bid the same house as if he was going to build it for, for a decade. And it was really an eye opener to see the progression of every bid, the plumber went from this to this, electrician this to this. And then there was another chart showing the labor increases. And so, in the newsletter what we that we just had, so everybody’s wage doubled or more in the 70 to 80 run, and their buying power went down from 330 bucks to 280 something. So, and we could see that being real, right? You fill your gas tank in California, it’s five bucks and you rent your house for 2200 instead of 14. Well, where did your raise go man, it’s gone.
Aaron Norris Yeah, that is insane. And you know, Florida is just the same? Yeah. I’ve been, I’ve been really surprised that the price increases. The one of the houses I sold in California, I’ve been really sort of rethinking my portfolio. I’m so tired of condos. But I got into some of these condos for under 100 grand during the downturn. So, but there was one particular one in Corona that was unwarrantable. And I was afraid that if the lending got tighter, that they wouldn’t lend on this thing. So, I decided to sell it and turn that into another single family in Florida where we’re rebuilding. So, I sold 250 this condo that I bought for under 100 grand.
Bruce Norris Yeah, like 65.
Aaron Norris Right back in 2012 is crazy. And it was rented for 1150 and had like a $365 HOA, move that to a four two that just came out rented in two days. And it rented for I think it was 2295, 22 or 2395. I forget, but no HOA. And I purchased it for all in with a lot in the construction, I think around 290 or something like that. And over in less than a year it’s appraising now for around the 350 mark. So, Florida’s having the same kind of journey. But I really like I really like owning new houses. So, thank you for that concept. It is way better than the dogs that I you know, started with but.
Bruce Norris Well, you know, we’re, we’re that was evident to me is I over the years. And I made a whole life during flipping was buying Moreno Valley houses. And Fourplexes that were at the bottom, you know, 25 to 30 grand for the single family. You know, I wouldn’t pay 31 for it. Oh, no, can’t do that. And then you know, then we’d flip them. But then those things would go up to 350. And I remember one time we were going to do a boot camp, and I thought well, I’ll do what I originally did I put in 200 grand and less this is probably 2005 in Moreno Valley, 200,000 and less no inventory. And I’m just going are you kidding me? 300 grand or less. There were two houses that were like two bedroom 800 square feet on a main road and you just shake your head. So, I thought well, maybe the area’s changed. So, I drove out there expecting that all to be spruced up. Nope. Same stuff cars on the lawn, nothing’s changed, except zero. And I just saw ‘Wow, that is California, you know,’ what’s interesting about Florida is that it doesn’t generally it had the crazy boom because of investors showed up in 2004, five and six, but typically, a big price increase is not part of their chart. And it is again this time. So, you know, you and I have talked about it, I’m excited about doing a report that will be a combination one to where we do California, but we’ll also make an attempt to see Florida because first of all, I want to figure it out myself. Because you’re what you’re talking about the price increases when we’re flipping houses, you know, we think we’re going to get one price. And by the time you’re done building it, you’re getting 100 grand more in sometimes it depends on the lot location, it could be two or $300,000 More it’s crazy like the Cape Coral stuff, rents, the rents to I’ll just one other thing, you know, one of the rents for it had a pool, okay, that’s not typical of a rental. But it went for 3850.
Aaron Norris That’s nuts.
Bruce Norris It’s a 2100 square foot house. It’s just and it’s a, it’s a doctor that’s local, and he just, he just loves it. So, just going oh, wow, that’s amazing.
Joey Romero Alright, that’s gonna do it for this episode of The Norris Group real estate radio show and podcast. Please join us next week for part two of our interview with Aaron Norris of PropertyRada/ The Norris Group.
Narrator For more information on hard money, loans and upcoming events with The Norris Group, check out thenorrisgroup.com. For information on passive investing with trust deeds, visit tngtrustdeeds.com.
Aaron Norris 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 www.thenorrisgroup.com and click the Hard Money tab.