Ryan Serhant

100%.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.