Ryan Serhant
speaker
653 appearances
3 recordings
2 series
first heard Nov 2024
last heard 10 Apr
Ryan Serhant’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Apr 2026 with 2.
Appearances
Because the alternative is you pay your kid's rent or your kid lives with you. So you know what? I'm making an investment. You go pay the caring costs is what most parents are doing. You cover the common charges, the HOA fees, the real estate taxes. It's gonna be my apartment. I'm gonna own it and we'll see what happens. And there is, that's happening everywhere. Really?
It's gift tax. Interesting. So you've got to go. So the parent, you can go buy a house, you know, and... Your kid can use it. That's really what it is.
I've got a brown jacket on. I've got like a tan shirt. I've got closed-toe shoes. I'm all about those baby boomers. Like, let's go find little Sally.
We're expanding so quickly. In other states. Yeah, two ways companies can grow, okay? You grow through growth, right? Or you grow through cost cutting. So in 2022 and 23, especially in tech, you saw a lot of companies improving their numbers because they were just cutting the bottom line and they were firing everybody, reducing costs everywhere. Hey, no offices, no problem, no overhead.
And then their numbers look great, right? You're just trying to improve margins or you expand fast. I crossed my entire 2023 revenue, I crossed in like June 5th or something this year. Because we're also just growing so quickly and all the work we did last year pays out this year. And in sales, it's not like e-commerce where I'm two quarters ahead.
Yeah, but we're also, the work we put in right now, we're not gonna see results from those salespeople doing deals and all that stuff happening until next year. So we're always like a year ahead. So what we're experiencing right now in our numbers and our sales is to the benefit of all the work that we actually did when we were hunkering down at this time last year.
And this time last year was brutal. We were like... are there, what are we gonna do? Like rates are high. The market is really, really tough. People are being let go left and right. We have to go to war. We gotta put our brave heart face paint on, right? And they cannot take our freedom. It's just like we are going out to battle.
And we've got to operate with a startup mindset no matter how big we are every single day. And that's got to be a part of our purpose to the beginning of our convo.
I'm super biased. I think real estate is one of the safer investments you can make as long as it's not short term. I don't like giving people short term real estate advice unless it's fix and flip. There's tons of fix and flips you can do. There's a lot in Florida. Unfortunately, it is what it is. Anytime there is natural disasters, you see investors come down.
100%.
Are they providing immediate liquidity? for maybe a lot of people who didn't have home insurance, 100%. So you can look at it from both sides of the coin, right? You don't do any fix and flip yourself as an investor, right? No, because we're mostly in like, you know, we're in luxury markets. Do you do any investing in real estate yourself? We have real estate investments.
I invest in companies mostly. So real estate adjacent companies, tech companies, consumer product companies.
Yeah, not really. You know what? Because it's all I do all day long. It's literally all I do. I feel like if I was doing something else, like most of my clients do, owning real estate ends up becoming fun for me. I buy and sell real estate for clients all day, every day. It's kind of the last thing I want to do is let's go do more real estate personally.
That's where I get excited in education and media and the TV shows and people and different types of companies. Like I'm an investor in Blank Street Coffee. Why? Because it's a coffee company and that's awesome. And they have cool tech and they can open up stores faster than Starbucks. And it's like, That's crazy. You know, like we do weird things that way that enable my brain to start.
I feel like there's a part of my brain that gets to work at that. You know, when I think about companies like that, they're like, oh, we're here, we're here, we're here. It's like the kid in the back of the room, you know, he gets to raise his hand. He's like, oh, I know that one. It's important to light all the fires.
I mean, for the last two years, it's just been about blood in the water. It's using interest rate pressure on existing portfolios to help bail people out and get market rate discounts. So you can buy things at 20, 30, 40, 50% off because somebody has a 3% note that is ballooning to 7.5% by November 1st. And that's where you see a lot of resets.
We do a lot of office to residential conversion right now, especially in a lot of our urban markets. It's like a whole building, office building converted into apartments. Yeah, being sold. Something that used to have a markup of let's say $700 million sells today for a hundred million bucks because the basis on residential is short-term, right? Especially if you're gonna create condos out of it.
It's one time and then the condo developer has to pay income tax. That's how the government looks at it. There's a lot of unique opportunities out there, but there's always opportunities. Everything's a potential opportunity. It just depends on where you want to be, what your capital requirements are, what your debt structure is going to be like.
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.
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