Real Estate Has Changed Forever | I Allegedly

Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and got a good one for you today because this is crazy. Remember, all we’re being told is how great the economy is, everything’s fantastic, and there’s not a care in the world. I am in Santa Ana, California. That building right there is five stories. Okay? It’s a building called elevate. And they’re ripping it down right now to make room for a warehouse.

Ripping down a building that was built in 1982 for a warehouse. Please don’t forget to hit the like button. Subscribe to the channel and let’s get right into it. This was a beautiful office complex that was absolutely stunning. It took up several blocks. And what they did was renovated it in 2019 before the pandemic. Put conference centers in there, put all this outdoor eating areas, completely renovated the place, and now it’s done.

It’s completely ripped down. Could not lease the building out. So what do they do? They rip it down to put an Amazon warehouse type setup. They’re hoping they don’t have a client yet. They’re hoping that they’re going to have somebody take this space over. So originally 125,000 sqft. Originally five stories, this place was absolutely stunning. Absolutely beautiful. When you take a look at the building, you can see that.

But this is one of those things that think about this. A building like this, you would have accountants, you’d have attorneys. You’ve got the law school up the street. You’ve got everything that would be there from the marketing companies, everything. But no, it is done, guys. And they completely ripped it down right now. So isn’t that shocking? Completely done, guys. So sign of the time. But remember, everything is good in the economy.

There’s no problems. Everything is great. But they’re going to rip down an office building. It’s better and less expensive to rip down the building and convert it to a warehouse. Okay, now, again, that’s Harbor Boulevard, guys. This is a nice area. You’ve got the 405 freeway up the street. I am right next to in and out hamburgers up the street. You’ve got everything on the other side of the 405.

It’s very busy, but once again, completely destroyed. And we’re being told how great the economy is. The Fed doesn’t raise interest rates yesterday, but now remember, everything is good right now. It’s a sideshow. It’s an absolute story time joke right now when you have a building that they spent tens of millions of dollars to renovate, and now it’s done. It is finished, guys. You’re going to see this happen around the country more and more and more.

But this place was absolutely beautiful and now it’s done. So share your thoughts on this one so far. I’ll get a few more shots of it, but this is crazy. They’d rather rip it down than keep it there. Okay, let me know what you think about this. It’s a restricted area, so I can’t go further than the fence. They just reminded me of that. Security is nice, but they’re like, beat it anyways.

Is that crazy or what? Guys, everything’s great in the economy and they’re ripping down this building on this beautiful street. And I mean, this place is packed, guys. You got the Home Depot right there. You got restaurants near here. You have other office buildings. And it’s done, guys. Absolutely done. And sign of the times, guys. People are not renting offices. You’re seeing more and more vacancies. You’re seeing cities like San Francisco that are done.

You’re seeing places like Pittsburgh where they said in four years you’re going to have nothing but vacant office buildings there. Where is everybody going? Is everybody going to work remotely? Who knows? But this is a perfect example of the economy being completely destroyed right now. So let me know, guys. Let me know what you think about this. I have a meeting scheduled for this afternoon. So after I filmed the building, I was talking to my assistant and I said, hey, I think I’ve got time to eat right now.

Is there like a japanese takeout near me? I’m in Costa Mesa. She says, hang on a second. Oh, yeah, I’ve got the perfect place for you. So she gives me this place, and I go over there and I walk in, look at this lunch special, guys. $39 for lunch. I’m like, pass. Are you kidding me? So across the parking lot was a Thai restaurant that out the door cost me $15.

But my point is, I was like, what were you sending me to? I’m going to spend $40 for myself on lunch. And she’s like, I’ve never eaten. I just looked up where you were at, which is funny, but could you imagine? 39, 99 for lunch, guys. Hey, what a great deal, okay? Anyways, I am in front of a rite aid that went down for the count, which is insane, guys, because if you knew where I was at, I am in Costa Mesa, California.

You’ve got the sonic across the street, which is always busy. That’s the sonic. We ever see those sonic commercials where the idiot and his friend or the two stupid women are sitting there and know hot dogs, chili dogs, all that stuff. Okay? That’s where they film them all at. That one right there. Anyways, a little bit of trivia. This is a very busy street. This is Harbor Boulevard.

And you’ve got the Rite aid that went down for the count. So absolutely crazy, guys, sign of the times. And Rite AidS had its own problems with their lawsuit. And everything that happened with the prescriptions that they let get sold out of there. But they could not make money. But this is just crazy because you’re really talking in an affluent city. You’re talking a lot of people around here.

You’re talking other drugstores near here. But Rite Aid, done, guys, isn’t that crazy? And needless to say, if you want to invite Dan someplace, don’t suggest a $39 lunch special, okay? So I moved up the street to the park. And one person that always sends me cool stuff and has for years is a man named Jesse who lives in Washington state. And two things. Number one, he apologized for missing my birthday, which there’s no need to apologize.

But one thing he did send me as a very cool little gift was remember back in the day with the slot machines? You’d have dollar tokens that you’d use. And this came from the bally’s casino. You remember, you’d walk through the casino, ting, ting, ting, ting, ting. You’d hear that sound. Jesse sent me that, which is very cool. Jesse, and I really appreciate it. But Jesse always sends me thoughtful, great stories.

And he didn’t disappoint. He always cuts things out of the newspaper and mails them to me. And I really appreciate it. But think about this. One in four people in the state of Washington want to secede from the union. The evergreen state wants to be its own country and get away from us now. Okay? Enjoy. Do it. But it’s so, you know, isn’t that the state that legalized drugs and did a bunch of crazy stuff like that? Yeah.

Okay, so needless. Say, how’s that working out for you guys? Okay, now, the next thing that’s insane is this, is that those of you that have been around the channel know that my late girlfriend was a law professor who taught people to pass the bar exam. And she was very good at it. But I would see people that had no business being lawyers that had taken the bar exam maybe 1011 times, five times.

Some of these people needed the right guidance to get through because they were smart. They would just freeze up with a test and whatever. Washington state, their supreme Court this week just allowed law students to be able to become licensed to be lawyers without having to take that pesky bar exam. It’s unfair. It’s not fair to people that they are discriminated against for an exam. Okay, I don’t know about you, but I am telling you this right now.

My accountants and I love them, okay? But they’re just numbers nerds, okay? I don’t want somebody to become an accountant that’s not qualified to be an accountant. I sure as heck don’t want my lawyer to be a lawyer that doesn’t deal with business law and everything else that we have to deal with. Contracts, everything else. Imagine somebody just saying, hey, listen, you went to law school, you get to become a lawyer.

Well, what were your grades like? What were you like? They just passed that. So there’s going to be alternative methods without having to take that pesky bar exam because it’s discriminatory. Taking an exam. Okay, once again, why did my client get 50 years? Why is my son in prison for the rest of his life? I don’t know. Maybe he hired the wrong guy, or gal for that matter.

Okay, so one thing that I love is all the real estate talk. I’m telling you guys to be on my email feed right now is hilarious because you get people that say, you know, Dan, you just don’t understand negotiating 101. You think that people are going to actually lower the price if there’s no buyer’s commission involved? Yeah, I do. I think you’re going to see crazy stuff happen.

I think you’re going to see more listing services that are going to be $1,000 to list your home. You’re going to see things like that come up. But there’s a great one we’ve been bagging on the buyer’s agent. What about a listing agent that burnt somebody’s house down? Julie Bundock in Australia was at an open house getting ready for it and realized that the tenants that lived there had left out some blankets and mattress and some sheets on the dock to drive.

This is northern shores of Avalon Bay. Nice area outside of Sydney. And so she threw the blanket downstairs on a metal cabinet and then turned the light on and they left for the day. Came back and the house had burnt down because the light had heated up the metal cabinet and then burnt the sheets. Okay, so what did Julie do when the owner showed up? Oh my God, Craig, I think I burnt your house down.

So domain residential realtors is the brokerage house. They got sued by the owner, who not only did they have to pay half a million dollars in damages. By the way, the house was estimated worth at the time, $4 million. They also had to pay $563,000 in interest. And the tenants that lost everything, too, because their stuff was in the house, they got about 80 grand themselves. So we’ve been bagging on the buyer’s agents.

Now you got the listing agent that did some wrong. Is that hilarious or what? But the woman got on the stand and the story is great. Came from the New York Post. Woman got on the stand. The judge says you just were inconsiderate. Your story changed. You’re not thoughtful towards everybody that was destroyed, everything that was destroyed. And you need to pay for this so the australian courts don’t mess around.

That’s one thing I’ve learned and I think it’s kind of funny. So share your thoughts on this stuff, guys. Did you hear the story? Read that stuff. How about let’s let Washington secede from the union. They can have their own lawyers and they can secede from the. You know, since. Think about this. You go to any type of accredited school to become a pharmacist, okay? To become an engineer, to become anything that would need additional training and additional licensing.

Pass. Wave that off, guys. We don’t need to have that. That’s too much in today’s world. These kids today, they have enough stress in their heads. They have none. You know, one thing you’re seeing from people my age is we all had the same story. You wanted something, you had to get on your bike, ride there and do it. And these kids today don’t get that. My mental health is off.

This is too stressful, okay? It’s called life, guys. It’s called life. What are you going to do? And my late girlfriend used to say this. What are you going to do when your client’s life is on the line? You’re going to cry? Like, this is tough. Your honor, come on. But those are the people that are going to represent you. Okay? Moving forward. So share your thoughts, guys.

Let me know what you think about this stuff because it’s crazy. So let Washington bail from the know, okay? Share your thoughts on all these stories. You think that the agent should have been held responsible for all that stuff because I get a kick out of stuff like that. It’s very hot out here today. Look at all the turtles that are sunning right now. Look at this. See that? I don’t want to get too close because I’ll bail in the water.

But isn’t that cool? One thing I mentioned earlier in this video was that the Fed did not raise interest rates yesterday. And the CEO of Bank of America, Brian Moynihan, he put out a warning to Jerome Powell prior to his announcement and said, hey, I want you to understand, you got to not rely on the consumer because the consumers burn out. They’re at Wits end right now. They have no money right now.

And to rely on them to purchase things and to spur this economy may be too late. So think about this. The bank of America knows how bad things are. Bank of America knows that the average consumer is borrowing more money just to get by right now. And there’s no end in sight for this. So real to. It’s going to drop, Dan. It’s just going to be so affordable.

You better get in now before it’s too late. Prices have never been better. Interest rates have never been better. It’s only going to go up. No, it’s going to go down. Decide on your own, guys. But here’s the thing that’s going to happen is you’re not going to see anything that’s going to resemble the two and a half percent that we had in the glory days of the health crisis.

That is done. And I thought this was a joke when somebody sent this to me, but it wasn’t. Good old Elizabeth Warren steps forward and she wants to tax billionaires, she wants to tax their savings, she wants to tax their net worth and she wants two to 4% from them right now to take from billionaires. And again, guys, she just wants to steal it. Wants to just take it.

Now, again, your net worth. There are so many people out there in this audience that have worked a lifetime and saved money and are like, contemplating retirement or contemplating the next 15 years of what they’re going to do. Imagine you have to just pay this money to the government. So it’s crazy. But Elizabeth Warren, again, a woman that’s never ran a business, a woman that has never created wealth on her own, other than a stock tip or anything that’s been given to her, is ridiculous.

It’s absolutely ridiculous. Okay, now, is this fair? Of course it’s not fair. It’s absolutely outrageous to think that they’re going to just tax billionaires and create money. They don’t create anything. They tax everything. So let me know what you think about that. And again, we were talking about people seceding from the union with Washington. They did a survey of people that live in New York state. 30% of the people that live in New York state said they wish they didn’t live there.

Okay, well, that’s growing. Okay, so that’s going up. But then also, 50% of the people that they interviewed said that they plan on leaving New York state within five years. So how does a state like that survive? If you’re not going to have business, if you’re going to have people saying, you know, we need to get out of here. This is not fair. Now I have people that write me on a daily basis.

When are you leaving California? Okay, guys, I’m constantly looking outside of California and different places. And here in California, I’ve made that really clear, what I’m looking for. But you have to make a decision on where you think things are going to go, if you think there’s going to be a change in the administration, if that’s going to make a big deal, if it’s not. One thing that I’m really convinced of right now more than ever is that Jerome Powell said, yeah, we may lower interest rates three times between now and the end of the year.

He didn’t say they’re going to do it. He didn’t say look for it in July. He didn’t say a specific date. And he also said that rates would then go up in 2025. So if they lower them for, let’s say, an election or something like that, what is that going to do for us? Seriously, if they dropped interest rates a quarter of a point, half of a point, they did it three times and they dropped at three quarters of a point.

You think that’s going to make a difference right now in your life? You think that all of a sudden you’re going to see car loans drop down to 3% again, no way. No way. And again, all of this is, you’re seeing banks that are spread so thin right now, and this is only going to get worse. So let me know what you think about all this. Share your thoughts on this stuff.

Let’s just tax the billionaires to where they just pay us everything. One thing that they talked about, which is unrealized capital gains. Okay, think about this, guys. You guys have a portfolio, stock portfolio. And let’s just say it’s your 401 and you’ve got it tied up in your retirement. It’s gone from, let’s say you had it at 100,000, now it’s worth $400,000. Well, let’s just tax dan the difference.

He should pay taxes on the $300,000 that the portfolio went up and it didn’t go. I haven’t sold anything yet, but they want to tax that, which is Looneyville Calpers. We’ve heard a lot about them. That’s the largest pension fund in California and they just announced that they’re going to spend a huge percentage on risk your investments. Read the article below because they need to get a seven and a half percent return to be able to maintain what they’ve agreed to pay.

So again, guys, they’re not going to be able to do that month after month after month. You can go to the racetrack and you can bet and if this horse comes in, we’re going to make more money. You can live your life that way. But these risky investments that they’re pointing to are crazy and they want to do this more and more and more. So let me know what you think about this and read the article below.

But if you’re a Calpers member, let me know if you’re concerned about your pension or any of you globally. I’ve had people that have said, oh, Dan, I was part of a small utility and I worked there 38 years and they cut our pension 10%. I have seen everything, guys. So tell me where we’re at, tell me where we’re going with all this stuff. I’m going to finish this video with these last couple of stories, but I got a tremendous amount of emails last night, always about the VPN.

It’s private Internet access. I will leave the link below for you guys. It’s pennies a day. It’s the cheapest thing you can get to protect you and your family when you go online and you need to do anything you can to remain anonymous and use the link below. It’s really inexpensive. First story. There is a company called Glassdoor. What Glassdoor was, it was a site where you can go and you can complain about your job and your employer.

Okay, so it was completely anonymous. Not anymore. When you log into Glassdoor, you have to give them your name. So they had a hacking and divulged everybody’s name. So my boss, John Smith is a total joke. He’s a jerk. He’s this, he’s that, he lured at me and he smells bad. Okay, guess what? Now they know that it was you, Stacey, that did that. So isn’t that awesome? So it’s not anonymous anymore and the Internet is a buzz.

The young people are freaking out because it’s not anonymous, to say the least. And final warning, which this is serious, we’ve talked about this in the past. Cyber attacks, ransomware attacks. Biden administration has warned every water municipality in the United States that they need to be on the lookout for potential attacks and ransomware attacks. Right now, what you need to have, guys, is water in your home. If you live in a building and they pump the water to you, what if that didn’t work, guys, seriously, you need to protect yourself, protect your family and make sure that you have additional water in the house because this is concerning.

And again, if anything happened, they would say, we warned you guys. So it looks like I’m the only one mentioning this. So make sure you have extra water in the house, guys, if you want to email me. Hello@iallegedly. com. Please hit the like button. Please subscribe to the channel. And again, guys, anything I can do, let me know. A lot of cool announcements coming out and cannot wait to share them with you.

And the email list is email is finally going out. So there’s some great news coming out. .

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