Crazy Sh*t In Real Estate with Leigh Brown - Episode #2 with Darrell Thomas

Summary:

In Episode #2, Leigh invites her dad and real estate inspiration,
Darrell Thomas, on the Crazy Shit in Real Estate podcast! Listen
as they discuss the formidable floating interest rates of the
late 1970s early 1980s, the regulations impeding the industry,
and why consumers are no better today than they were 40 years
ago.
Time Stamped Show Notes: 

00:20 – Introduction for episode #2

00:34 – Everybody meet Leigh’s dad, Darrell Thomas!

00:50 – Leigh’s dad’s background

01:12 – He has no enemies and no grudges



01:33 – 1978, one of Darrell’s first real estate transactions

01:50 – Interest rates going through the roof, home loans
were practically only accessible through Savings and Loans
companies

02:07 – What was a crazy interest rate?—21% with 10
points

02:40 – That’s the ONLY money that was out there

03:20 – Quadplex investment property for a client,
couldn’t find someone willing to front the money

03:33 – Enter the wrap around mortgage



04:!0 – This was landline only or face-to-face only
business



05:05 – If it’s not in writing, it never happened

06:12 – Back then, a home sale was a single page contract—it
was that easy

06:31 – The business has changed DRAMATICALLY in the last
40 years



07:05 – Does the real estate industry offer consumers more
protection today? Or is it just more regulation?

07:11 – More Regulation



07:29 – There were shysters and crooks back then, and there
are shysters and crooks now

08:24 – How to get in touch with Darrell?

08:28 – dtsellsnc@gmail.com



08:53 – Darrell is a veteran of the US Army

09:00 – If you’re a realtor with some crazy shit to share,
please visit crazyshitinrealestate.com and get in touch with
Leigh, she’d love to have you on the program!

3 Key Points If it’s not in writing, it didn’t happen. If you
always look out for the client’s best interest, people recognize
that and it pays dividends. You can’t fix stupid. Credits

Audio Production by Chris Mottram

Show Notes provided by Mallard Creatives

Cover Design by Two Minds Design

Original Music by Rimsky Music