Ryan Serhant

There's a lot of people buying up real estate at what I think are – terrible multiples right now with awful cap rates, but they have a much, much, much longer term view and they want to own market share. And so that's interesting to me, you know, to go out and you can actually overbid against institutional players who are trying to underbid because they have certain hurdles they have to hit.

There's a lot of people buying up real estate at what I think are – terrible multiples right now with awful cap rates, but they have a much, much, much longer term view and they want to own market share. And so that's interesting to me, you know, to go out and you can actually overbid against institutional players who are trying to underbid because they have certain hurdles they have to hit.

And you can now just go grab that market share and you get to say you have a thousand units in 2030. And at the rate at which rents are increasing, at the rate at which even inflation at 3% is increasing, By 2030, you'll be good as long as you can protect cash flows. And that's where people get hurt.

And you can now just go grab that market share and you get to say you have a thousand units in 2030. And at the rate at which rents are increasing, at the rate at which even inflation at 3% is increasing, By 2030, you'll be good as long as you can protect cash flows. And that's where people get hurt.

I have a billionaire right now. That's so funny.

I have a billionaire right now. That's so funny.

The 2030 agenda where it's like you'll own nothing. You'll be happy. Yeah, yeah, yeah. Everyone wants to be like Elon Musk. That's all. But I do have a billionaire right now who's like I want to own – less things. I'm like, great, how can I help you? Let me sell that for you. Yeah, just all my, so my house is in, where are they? Montana, Texas, New York, and Florida.

The 2030 agenda where it's like you'll own nothing. You'll be happy. Yeah, yeah, yeah. Everyone wants to be like Elon Musk. That's all. But I do have a billionaire right now who's like I want to own – less things. I'm like, great, how can I help you? Let me sell that for you. Yeah, just all my, so my house is in, where are they? Montana, Texas, New York, and Florida.

I just want to sell everything. Like, should you consult your wife before? Are you currently drinking? Are you currently under the influence of anything? You know? No, we just decided to sell. So we put everything on the market. Really? Yeah, it's like $270 million worth of personal property and just houses and pied-a-terres and things. We're like, yeah, I don't care anymore.

I just want to sell everything. Like, should you consult your wife before? Are you currently drinking? Are you currently under the influence of anything? You know? No, we just decided to sell. So we put everything on the market. Really? Yeah, it's like $270 million worth of personal property and just houses and pied-a-terres and things. We're like, yeah, I don't care anymore.

Let's just sell it all. Okay, great. And we will. And we'll sell it. Why do you think that is for that building?

Let's just sell it all. Okay, great. And we will. And we'll sell it. Why do you think that is for that building?

Yeah, he can afford it.

Yeah, he can afford it.

Yeah. You can stay at cool hotels. But here's what's going to happen. Everyone's going to go through that phase. And in a couple of years, everyone's going to say, meh, I want to just keep my clothes in one spot. So at the same time, I have that guy selling off just under $300 million worth of personal property because he wants to own no things.

Yeah. You can stay at cool hotels. But here's what's going to happen. Everyone's going to go through that phase. And in a couple of years, everyone's going to say, meh, I want to just keep my clothes in one spot. So at the same time, I have that guy selling off just under $300 million worth of personal property because he wants to own no things.

I then have another billionaire who is, I don't know where he's based. I think Puerto Rico, via Florida, who's now saying, I no longer want to have a hotel room in LA and in New York City. So just give me the two best properties, all in plus closing costs. I don't want to spend more than $18 million. So just go figure that out for me. And so we're doing that right now, like today, actually. Wow.

I then have another billionaire who is, I don't know where he's based. I think Puerto Rico, via Florida, who's now saying, I no longer want to have a hotel room in LA and in New York City. So just give me the two best properties, all in plus closing costs. I don't want to spend more than $18 million. So just go figure that out for me. And so we're doing that right now, like today, actually. Wow.

What a... This podcast has covered a lot, by the way. It's great.

What a... This podcast has covered a lot, by the way. It's great.