Property Investment Insights with Real Estate Whizz, Ryan Marshall

Get ready to meet Ryan Marshall, the real estate whizz and charismatic host of "The Real Deal" on Bizradious! Ryan's journey is truly inspiring, from managing a bustling bar and restaurant to conquering the competitive world of real estate. We tackle Asheville's current economy, the influence of local businesses, and Ryan's own invaluable tips for successful property investment.

This episode is all about reality checks and golden nuggets of advice. We delve into the turbulent times of the 2008-2009 market crash, and how it impacted the real estate scene in Western North Carolina. We explore the financial advantages of owning your home over renting, and Ryan's jaw-dropping savings of $15,000 in just three short years! Finally, we dissect the latest market trends and examine how current events could shape the future of the property landscape. This is a must-listen for anyone looking to navigate the complexities of the real estate world. Buckle up and get ready to rethink your property goals.

The Real Deal with Ryan Marshall

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Transcript

Veronica: 0:40

Welcome to the Veronica Edwards Show where we have fun financial conversations that everyone listening can apply to their personal and professional life. I'm your host, veronica Edwards, and I'm so excited to be back here, season three on bizradious. I want to thank all the listeners, aka the V Team, for downloading the podcast. We have exceeded the goal for this season to get 3,000 downloads in total in season three. Now the goal is four for four. We want to make sure that we get 4,000 downloads before season four and I think today's guest is going to help me get there. So I'm excited today because I have a fellow bizradio host and I've had a couple of hosts on the show recently, but this is the first time that this person has been on the show and I'm just going to let him introduce himself because he's the most tenured host on the station outside of ownership. So, without further ado, I would like to introduce Mr Ryan Marshall, the host of the Real Deal with Ryan Marshall. Welcome, friend.

Ryan: 1:49

Hey Veronica, I appreciate you bringing me on. I had a lot of fun with you. You've been on my show a couple of times and it's always been fun.

Veronica: 1:56

I don't know why it took so long to invite me in.

Ryan: 2:00

You know, ryan, you'd be under the radar.

Veronica: 2:02

Man, I think I forgot about you for a couple of months. I said, wait a minute, and then all this real estate stuff which you'll be talking about, that you discuss on your show. I was like I got to get you on before 2024. So thank you so much for making the time. I appreciate it.

Ryan: 2:16

Of course. Yeah, well, and, like I said, my shows focus on real estate but also community. It's the real deal with Ryan Marshall. If your listeners haven't checked it out, they can check it out the same place they thought in your shows at bizradious. But you know we try to cover, you know, not just market trends and I try to stay away from just regurgitating a bunch of numbers over and over again because they're constantly changing. You know, and you download a podcast from three months ago and listen to numbers from then it might not make as much sense but also tips on investing.

Ryan: 2:54

You know, buying rentals, getting into your first home. You know what to expect during the process, homeowner tips and also just what's going on in the community that can actually affect the market to be a positive or negative ways. I know it's hard to predict the future. Nobody really has a crystal ball. So you know, often times I like to point out, you know both sides well it could go this way or could go that way, depending on what's going on, and I know you have your finger on the pulse pretty good about what's going on in the community, because a lot of times business economics has a big impact on local real estate markets. You know and you do what you do. You probably may even have a finger on local economics and business, more so than me. So just to throw something back at you do you feel things are strong right now in Asheville, business wise, because I know we're coming into some turmoil? I've gotten a lot of questions about what happens if war breaks out?

Ryan: 4:00

what happens if interest rates go up? What?

Veronica: 4:03

happens if we continue spending with the government.

Ryan: 4:06

So there's all this uncertainty going on, but do you feel Asheville is in a strong position right now?

Veronica: 4:13

I feel like we are, you know, for the mix of clients that I have that are nonprofit and for profit. Of course, they started to see that huge increase 2020, 2021, but I feel like in 22 and 23 is kind of leveled out, like I'm not seeing any huge growth but I'm not seeing any huge losses. I think what's happening now is everyone's trying to absorb the increase in expenses.

Ryan: 4:38

Right. Well, in a level market is good too. A lot of people look at it as oh no, it's leveling out and they think of it as going downhill. But I know, in real estate, an even market where it's not a huge seller's market and it's not a huge buyer's market, benefits everyone, yeah, you know, and a growth that's sustainable.

Veronica: 5:01

Exactly. Well, Ryan, before we get into because I will definitely want to talk about, exactly like you said investing and things that are happening in the community I never have heard your story before where you could tell us where you're from, how did you get into real estate and how did you become one of the original OG hosts here on bizradious.

Ryan: 5:25

Well, we'll recap it. It's a pretty long story. I'm originally from one of Robbins, georgia, which is just South of Macon, moved around a little bit in my I guess, late teens, early 20s, moved down to Tampa, florida, for a little while, worked on Jack-O-Liwell and off the coast of Georgia for a little while, primarily service industry stuff, restaurant business. Ultimately I landed up here in Asheville, just you know. I moved around to where the service work was and guess what? There's a lot of service work in Asheville.

Veronica: 5:58

Yes it is.

Ryan: 6:00

One of the reasons I ended up here. I also had family that had moved to the area, and so I thought it'd be nice to be kind of close to them. My brother had moved up here, but I didn't really get into real estate off the bat. I actually owned a business a local bar and restaurant for a few years and we did very well with it.

Ryan: 6:22

We ended up selling it for a profit, but that's great, I know a lot of people can lose their butt in that, yeah, so I got out while they were getting, was good with that, because it just it runs your life, you know you really have to be committed for it. You know I have a large family, and especially in the bar industry, when you're open, you know we're open for lunch, so we're open from, like you know, 11 o'clock all the way till 2 am. So that's it.

Veronica: 6:51

And how many kids do you have, Ryan?

Ryan: 6:54

Well, in the total blended family there's a lot, Don't?

Veronica: 7:01

don't be afraid, ryan, tell us.

Ryan: 7:03

So five in five in total right now.

Veronica: 7:07

Wow, right now, what do you mean? There's more coming.

Ryan: 7:12

Well, you know, I may take on another younger family member who's looking to possibly she's 18 now, but looking to possibly make a change from her current environment where she got you know well that's so kind of you and I'm sure you're seeing the blessings come back to you because that's that's a lot to open your house, even when it's family.

Veronica: 7:39

So that's so kind.

Ryan: 7:41

Yeah, well, and you know one of the reasons I got into real estate, I was always interested in it. You know I'd always kind of followed it. I had some other folks good you know, good friends and family that had had done some real estate deals and I kind of saw the power of real estate and thought it would be a good way to be able to kind of juggle career and schedule. Now there's a lot of people out there that think, oh, creating your own schedule you know, that's got to be awesome.

Ryan: 8:12

But just yeah, just that you know when you're not on a schedule, that means you're always at work, really.

Veronica: 8:19

Exactly. Say that again. When you're not on a schedule, you're always working.

Ryan: 8:25

Yeah, there's no clock out, there's no, there's no punch out. So you know, you never know what might come up. It's hard to plan around things, especially in this market, because it's been so hot, you know. So if somebody called, let's say you had plans to do something tomorrow and somebody calls you and there's a house that come on the market they want to see, I have to go, because if I say, you know, if I say, well, let's go, you know, next Wednesday there's a good chance that house is going to be under contract. And then and then how would I feel as far as how? You know, how well did I represent my buyer in that situation? You know they now they've missed out on it. So it feels like you always have to jump, jump, jump, and when you're working a commission based business, it can be stressful because you do feel like, well, let me take this one, because when's the next one going to come?

Ryan: 9:16

Let me take this one, because when's the next one going to come? So it's really hard to walk away from those things. So a lot of people could think about real estate, as far as an agent goes, as being kind of glamorous, and a lot of real estate agents like promote that like air of success because they think it brings in more business for them.

Veronica: 9:36

Oh, yeah, you know, I was a fan of, like Shaza Sunset, like Aaron California, with these Ferraris and these houses. But there are real estate people and I'm like, wow, I should have went to real estate school because they're looking fabulous, you know. So, yeah, it does definitely have that reputation of being very glamorous, darling.

Ryan: 9:54

Yeah, well, I drive a Subaru. You know, I try to keep it modest because if you try to keep up with the Joneses and you never know what the next two years might bring you, you know where you're going to be and you know all about savings and put squirrel in a way something, and it can take a lot of stress off your plate to know that you have enough in case something happens.

Ryan: 10:28

So I don't finance things. I don't go out and finance the new car to show off If I can't pay cash for it. I don't do it. I'm debt free. That's amazing, Ryan, yeah well other than my house, which is a positive debt.

Veronica: 10:42

Exactly.

Ryan: 10:43

So, yeah, it took a long time to get there, though I mean, I've been, over the years, mountains of debt to debt, free to mountains of debt. You know it's kind of. You have to eventually make that decision, like you know, no, I'm not going to do that, and you find ways to enjoy other things.

Veronica: 11:03

You know exactly and go ahead. Ryan, I was curious when you were talking about saving and having a large family, and definitely a lot of people listening can relate to that. I was just going to say can you tell us some of the tips, like things that you did that helped you get out of that debt, before we get into the current real estate market status?

Ryan: 11:22

Well, yeah, I think you have to focus on it and you have to learn to save where you can but then to also put that savings to where it's most beneficial. Yeah, a lot of people will save hard and then they think they deserve a treat, so they'll go out and they'll blow it on something. And yeah, it's good to reward yourself. You know, don't get me wrong I think setting those goals and little rewards along the way keep you motivated, absolutely. I think when you set the mindset, you come to a point, to where you learn to enjoy other things. You know, like, what can I do around the house that I enjoy? That doesn't cost money?

Veronica: 11:59

What can I?

Ryan: 12:00

you know how can I have a fun night that doesn't include taking five children out for a $200?

Veronica: 12:10

Yes.

Ryan: 12:11

Yes, you know. And so enjoying those learning to find joy in things that don't cost money. And once you do that, then when things do cost money, you're like, ah, you almost become a little penny pitcher. You're like, ah, I don't know if I enjoy this much. I should, because I feel like I shouldn't be spending this money.

Ryan: 12:32

So, it really becomes a mindset, but to your point, I think, visualizing where you can make cuts if you're trying to get out of debt and ensuring that that money does something for you. Keeping that goal, setting those goals, small though so it doesn't feel like a mountain. So you can say, oh, I hit that, I hit that, I achieved this, and be sure to give yourself a pat on the back along the way.

Veronica: 12:57

Absolutely. I think sometimes we're our worst critic and we're doing a lot better than we realize. You know. I know back in the day it was always that saying you should have like six months of savings. Well, that's hard. That could be like $25,000 or a really large amount for some people that are check to check. So even if it's just a couple hundred dollars or a couple of thousand dollars to your point, you can still reward yourself. But when things get tight, it's nice to know that you do have, you know, a little money in the savings account that you can pull for emergency purposes. So, ryan, let's talk about the current state of real estate, especially here in Western North Carolina. I know you said you've been here for some years. What year did you move to Asheville and what did the market look like then for real estate versus what it looks like now?

Ryan: 13:45

So I moved to Asheville, maybe 2005. We'll say 2004, 2005.

Veronica: 13:54

OK, almost 20 years ago.

Ryan: 13:55

Yeah, and at the time the real estate market was strong. It's pretty much remained strong, even though we went through that crash in 2008, 2009. It took a little while to hit Asheville and it rebounded quickly Now. When I first moved up here, it was a flipper's paradise, you know. You could simply buy a house that needed paint, add some flooring and put some countertops in, and then turn around and sell it for an exorbitant amount more. It was almost ridiculous.

Ryan: 14:32

And everybody's seen those flipping shows about flipping homes. But there was a time when that was big in Asheville because there was a lot of homes at that time in the early 2000s that did just need simple cosmetic upgrades but they were selling for less. But there was still a high demand for people moving to Asheville that didn't necessarily want to buy a home and then do all those upgrades, so there was a lot of people taking advantage of it. Now there was a lot of banking stuff going on with interest-only payments and things of that nature lending to these investors and real estate agents.

Ryan: 15:11

I think it was. What was it? Asheville Bank or Bank of Asheville got caught up in some of that.

Veronica: 15:16

Oh, wow.

Ryan: 15:17

One of those is wrong. The other one's correct. Let's go back and look. But if it's Asheville Bank, they're going to be like what. That was wrong. So a lot of people did default and lost because they had multiple homes that were trying to flip or invest in rentals, things like that.

Veronica: 15:38

Well, they were just throwing mortgages at people. So it was so easy before the market crashed to just continually just buy into, like you said, flipping houses and doing that. But then, when the market crashed, a lot of people were caught holding the bags. So how do we prevent that now? Because you know everyone's like, oh, the bubble's going to burst and blah, blah, blah. But to your point, historically, even if the market did crash, asheville is never affected as much because it's such a tourist attraction. So many people love relocating here for the views and the changing of the leaves and the weather, and the bears and the parkway. So if someone is looking to buy right now, what advice do you have? If they're looking to buy, if they're looking to sell, if they're looking to invest for rental purposes?

Ryan: 16:25

So if you're looking to buy, my number one advice is particularly if you're a first-time home buyer is you're not going to get everything you want. Your first-time home's a stepping stone. The one thing we run into most is a first-time home buyer wants a home that has everything they wanted. You're not going to be in your first-time home forever, and I've said this in my show before too. So also don't overspend, don't extend yourself. Right, because you can take a small home or a small house and make it a lovely home.

Ryan: 17:03

But if you overextend yourself in a home that you think's everything you want, the stress of you being overextended is going to make that house not enjoyable and it can cause chaos in your relationships, in your family life. Just having to make that stretch, you can cause little arguments that come up. So don't overextend yourself. If you're looking to buy and also realize you might not get every single thing you want, but it's the number one way to build wealth, you buy your starter home and then in a few years you can trade up. That home is going to appreciate. I mean, even now we're in a level market, but the median sales price in September still increased by 3.2%, and that's with seeing interest rates continue to increase. Now I do think there's going to be a little bit of a roller coaster if interest rates come down because prices really sustain themselves through high interest rates.

Ryan: 18:04

If interest rates start to drop, you're going to see a bump in home pricing again and in this area we didn't really see a dramatic drop in home prices. Home prices stayed the same or went up.

Ryan: 18:19

Definitely not through this high interest period. Yeah, now, in some places in the US you did see, because traditionally or historically, people can only afford what they can afford per month and interest rate has a lot to do with that. There's a big difference in a payment on a 3.5% interest rate and a 7.5% interest rate You're talking about $100.

Veronica: 18:38

Yeah, yes.

Ryan: 18:39

So historically, when interest rates go up, prices kind of fall to kind of meet that happy median. But we didn't see that now and that's what could cause the roller coaster. If indeed interest rates begin to creep down, You'll see home prices go up even more.

Ryan: 18:58

So that's why you see it now, folks, if you're listening, even at high interest rates, it's still a solid place to park your money. It's a good time to buy, and don't be afraid to buy a little bit further out if you have a good way to commute back and forth.

Veronica: 19:16

So you actually agree that this would be okay to, even if someone has a current home and they're looking to invest in real estate just for rental purposes? It sounds like the market is still good and you can charge a really good rental rate.

Ryan: 19:30

You, yeah, you can still charge a good rental rate and the thing about rent is it's considered what they call sticky inflation. So once rent goes up like it doesn't really go back down, unless the only time it goes down is. I've seen it happen in a few places like Phoenix, arizona. If you it, if your whole city begins to expand too much and you start to get more Housing or, more particularly, more multi-family housing, apartments and condos, then then the public wants that will drive rent down a little bit. But you're not going.

Ryan: 20:07

Even just due to the topography and the current infrastructure of Asheville as far as you know water and sewer I don't see that happening. I don't see Asheville Building so much that now is going to drive rent down. So rents going when it does jump up it doesn't really go down. So your payment, however, will stay the same. So even if you're just making, you know, a little bit of money on rent, in two years it's gonna be more money on rent. So it continues to climb and your, that renter's paying that house down and that house is appreciated. So, yeah, if you can find a unit, that's gonna be a good rental. I say. I say buy even at the higher interest rate and, and if it's an investment loan, it can be even higher than seven and a half percent right now. So, but you know there's lots of property managers out there that can give you a rent calculator.

Ryan: 21:02

Figure it out, make sure it's a good investment, but, yeah, it's a great time to buy Always when it comes to rental properties in this area.

Veronica: 21:11

Wonderful. Well, ryan, we're already to the end of the show. This is gonna air in October. I will love to have you back the beginning of the year so we can see if anything Shook up the market in Q4 because, again, like you said, statistically and historically this is just never happened before, so no one really knows what's gonna happen. But we do appreciate you saying, hey, buy if you can invest, because I agree with you. I bought three years ago. I'm paying the same amount that I was paying in rent when I moved and if I was in that same apartment complex I would be paying $400 more month. So I just am thankful that I bit the bullet, because that's close to five thousand a year and you start adding that up. I've saved $15,000 by owning and my townhouse has appreciated over a hundred thousand dollars during that time. So Well, yeah, you're out there, absolutely Me on. It's gone so fast.

Veronica: 22:06

But yeah, I know and I want to thank all the listeners for tuning into biz radio US. Please listen to Ryan show the real deal with Ryan Marshall and also listen to the Veronica Edward show on Wednesdays at 10 am and if you missed the live airing, you can listen to all prior shows at Veronica Edwards bus sprout comm.