Talking Real Estate With Josh Altman!

yeah all right okay that's fine this is a garage oh man Oh hold on listen it just put it if it's not in writing then it's not an offer I'm sorry okay yeah long time no see this guy this guy like he's telling me he's making an offer on my house one of my clients but he has doesn't want to put it in writing so you know the rule if the pen doesn't hit the paper yep sucked it I would see you man what's up brother now Marge come on in all right we're gonna go check out some cars cars real estate who knows maybe you might Bugatti today done yeah yeah Haven I'm doing amazing so everything in here is for sale right everything all right there you go never sell my cell see I sold myself to the real estate gods a long time ago yeah so I don't know how I knew it what are we looking at here is this a crazy color obviously yeah so this color combo was the color of the car original Senna won the first Formula One race with McLaren team in 1988 it was a Marlboro library exact same two-tone obviously different there was a form of one car but it was number 12 so I got number 12 on it options this is what we do when we cut when we get in a car this expensive key bolt bolt whoa I mean you know what's a cool listening with this car start button where do you think this start button is you're sitting on it I'm just kidding but now that we've taken hear the entire episode to find out where the star button was it's like we're about to take off right now Oh [Music] got massage chair in my office yeah that's the only prom you can't carry out the conversation and make close deals like you do and that is oh yeah I can't hear you how long an escrow 100% point in seeing on a thirty million or so all right I mean this is some serious power yeah these are the loudest [Music] reason loud this one but just sitting in that yeah it's like oh do I think that was back to him I actually just put it in my pocket I'm driving out of here with this thing but you sit there so wait so do you have I might ask you this the other day do you have a background racing or you just like beautiful supercars oh I just love course you know my neighbor 2005 barman was my neighbor here on the Ferrari dealership yeah every weekend yet Ferraris detailing Ferraris numerous car like we became friends and then I started finding him you know finding a passion for a fine line of the body of the car the engine the history the legacy of course MacLaren's got a big legacy in Formula One yeah and you know so I'm an art collector and I agree with you so I have I got this beautiful Indian motorcycle in my house and it was one that is yeah yeah yeah big Cruiser it's awesome because I think it's a piece of art and everyone's like you drive that it was like no never driven it yeah and but same things like this I mean it's a piece of art yeah this one you can actually take to you know now that's what I like about you is you actually do take a multi-million dollar car to in and out yeah so like it was awesome watch out for the curb I wait a while gonna drive through McDonald's the other in the rolls-royce gone it's tight and people were like something's wrong with this picture it's pretty funny but honestly I don't remember I always remember you have incredible stuff but thank you yeah he said it not me I mean these this is a spaceship yeah it's not the fastest car in my fleet is only 730 horsepower but the detail yeah all that stitching so all this was done in Paris and then this is all laser-cut for H for Hermes and comes with seven piece luggage said you know I feel like this is perfect for one of your 50 million dollar listings we can dump it in there and sell this for 10 so the house for 40 so I've done that before just you know I have included everything from cars yeah planes boats oil yeah yeah so what's the most expensive car you so I got a pretty interesting deal that you that I think you'd be interested in this I sold one of the most expensive tear downs in Bel Air ever which was a 25 million-dollar teardown and in the garage the guy had passed who lived there so the estate was selling the house the heads that yeah and in the garage open up the doors and there's a 1973 Ferrari Dino in the garage and the kids had no idea what it is oh no they know they know but they were just selling everything they were liquidating the estate and I look at the it's it was almost like it was like lights on it waiting for me to open it and you just hear like oh my god and I negotiated it as part of my commission yeah and I drove away at the end of the deal you know some people hand over the keys I I handed over the keys to the house and then I got the keys to the Ferrari and since then that's motivation guys there you go and since then listen you know I negotiate everything so everything's negotiable since then I've taken that car and I put a lot of money into it and restore it and I get it in two weeks you're gonna be one of the first people who see it and it's gonna be the nicest 1973 Ferrari Dino on the entire planet you heard it here first I wondered sure we'll do a try rats will do a try yeah well I don't know but one day one day you'll be successful enough to get so and what's cool about you is how you actually enjoy these things cuz look I follow you I follow you on Instagram obviously you're a friend and and and I and I love just watching your success we don't want to talk to you about but you actually put these things like you put them to the test you drive them you enjoy right so some people are so scared to drive yeah but what's the point yeah you know I got two little kids and y'all have much time to spare on the weekends to drive these beautiful cars but once in a while I'll just call Nate or one of mine who said let's jump in a let's go to in and out you know but have some fun with it so push it to the limit love it so this is the Bugatti of Rembrandt this is only three made in the world and is the only one for us so it's pretty cool because it's all carbon fiber and finishing bronze yeah this is a serious car yeah so I've driven one of these for about three weeks it was a red one and what I like about it is when you when you excel it literally sounds like you're in a spaceship and in the back you hear like yeah you know what's is this the Rembrandt yeah so Rembrandt Bugatti was the brother of each horrible body that was a founder of cool body and he was a sculptures and all he did was life-size elephant sculptures in bronze so this garden is a bunch of elephant sculptures on it and then the whole car is done in bronze finish it's it's beautiful it is a beautiful beautiful car I would have to say my favorite out of everything in this garage yeah mm-hmm this one for sure no way yeah yeah this is unbelievable by driving wise this takes the cake this thing's McLaren p1 is basically a still it's got the hybrid you know technology that electric motors installer between Corvo and if we take this out today yeah we may not come back so I've seen this before like because there was a guy before that had this his name was Batman name was Batman I'm pretty sure so I I have a listing in La Jolla yeah it's called the razor house it's one of the nicest and most expensive houses in La Jolla and we have it for 25 million dollars in the house is was the inspiration for the house in Iron Man yes yeah and you know they got that but I wasn't at the rabbit jacks whatever is that the guy that bought it like in the recession no comment oh yeah you follow it's super proud of you not only we're friends but everybody wanted to see what you got to say about high-end residential that's what I don't know many things in life yeah but I know high-end residential oh yeah so we'll knock out some questions and then maybe we'll takes all my quarters to my cigar lounge and pop some point smoke some cigars wait let me uh I stop twisting my arm oh wait we get to take multi-million dollar houses and go smoke cigars hmm let me think about that for a second yes unfortunately their cars we drive them out of this in the garage there on that site no I got for SLRs then I've been driven I actually have fight what am I in this shot you see with Manny by the way he saves money by having friends come over and drive the cars because he has to warm them up anyway exactly so he's getting free work right now from coming on for SLRs will pay 2 or 3 or 400 and drive them and put some I love it let's do it warm em up let's do it alright let's answer some questions oh you guys wanna learn about some high-end residential real estate let's talk about it that's right yeah thanks good to see you always good to hang with you my good friend Manny I mean talk about success I love surrounding myself with successful people that's a lot of how I got to where I am today and you're looking at one of the guys that I surround myself with there you go you know my mentorship program and of course I know everybody's talking about it and you know not many are in commercial real estate a lot of these younger kids they're in residential real estate and when I told them Josh Altman's coming to see me they're like so they all had a ton of questions for you as you can imagine so when I when I when I have a question in in commercial real estate I call Manny when he has a question in residential he calls me so it it's nice it's a nice relationship yeah yeah yeah that's right that's right some questions alright cool let's do it okay my English is a little choppy so bearable let me get my pistachios so we got Dow what are some attacked is the tactics which us as buyers can use to ensure that our 20% below market offers are being presented to the agent and ensure that a counteroffer is being presented back to us I guess if they offer 20% people asking price I can they make sure that's being seen by the seller right so that's actually a good question yeah I work with developers I work with you know wholesalers and a lot of times we throw lowball offers in right offers that are way below what people are asking us just testing tomorrow you gotta test the market we call it the throw it against the wall effect right and see what's what sticks the thing is is that sometimes you insult the people or you insult their agent because it's a low offer and you don't know if it actually made it to the seller to even have a chance to counter because maybe the agent blocked it which they shouldn't do that's illegal but maybe they don't even want to show it to them because it's it's it's low so is there any way to guarantee that you're gonna get a counter so there's no guarantees in life except for taxes and death right but the best way that you could guarantee to get it back is a couple different things one is you got to write a letter along with the lowball offer and you got to explain why you're coming up to that nothing that's gonna piss somebody off more than just saying hey I'll offer you this it's low and no explanation if you explain where you're coming from then at least you're justifying why you're coming in at that price and therefore they're gonna take it less personally they might argue it back which is fine which is all about negotiation but that way you're gonna get a better chance of getting a counteroffer I look I've gone as far as dropping offers on people's doorstep to make sure that they get it just to make sure that people get back to us and a lot of times if I don't hear back I'll offer again a week later or offer again two weeks later and I'll constantly offer some of the best deals that have ever seen have come together with a horrible first offer and if I didn't tell my clients don't take anything personally in real estate it's all numbers it's an investment there's nothing personal actually which is more with commercial but a lot of the times with residential people get emotional yeah they get emotional so exactly so if you don't take anything personal and you counter always counter back no matter what some deals do actually end up coming together and and if some of the greatest deals I've ever done have come together so basically you don't work if you're gonna lowball have reasons why you go volley and get more personable with a seller otherwise you're gonna just insulting but pages of Eila wide low volume that's it all right great input so ash how did they get oh how did it get started and what got them to where they are today and such a high-profile clients what recommendations do you have for us that are just starting out fresh all right so that's a good question I had it my brother and I the Altman brothers how did we get back how did we get to where we are today a lot of people who know our story knowyou know we came out to LA we didn't have two dimes to rub together we actually slept on the couch at a fraternity house that we weren't even part of the fraternity of and I started in the mailroom so it's like you started in the mailroom making you know six dollars and fifty cents an hour and so did my brother and worked our way up from there that's a there you know what you're a little older than me six fifty then was actually four fifty when you see I was only I was seven I was sorry oh good so where'd you go from the mailroom so from the mailroom you know we we always surround ourselves with mentors my brother and I and a lot of the people who we were surrounding ourselves with and delivering mail to while we're in the mail room were successful people and we always like to pick their brains so whenever I got a paycheck I would put half of it aside and I would use that money to take the successful people in the company that I worked for out to lunch and it was funny because what was interesting was all these people this wasn't a real estate company but all these people who were successful also talked about making money in real estate and you know that piqued my interest because I said how is it possible that you can be an expert in one thing yeah but also make money and real estate at the same time and from then on we decided that the next year we were gonna save every penny we could and that was so my brother and I literally it was it was cup of noodles every night you know ramen soup all that and real cheap stuff and eventually at the end of the year I had $5,000 to my name my brother saved 5,000 to his name we put the 10 grand together we walked into a bank and we bought a $400,000 condo fast forward three months later we flipped the condo we sold it for 600 grand we made $200,000 profit and the rest is history and you know what's the best part now people are taking you out to lunch yeah and you know what I love doing it yeah and that's why you know I have my program that's why you have your program for me the the true success is when you're able to teach and share and give back to the amazing real estate community that has given us so much and pass it on to the next generation I love there you go there you go okay yes by the way I mean just so you know even Manny's cappuccino maker in here looks like it was a million dollars I mean the fact that you got everything lined up on the wall here this is this is this is a big deal so everything and and I will tell you something I will tell you something you can tell a lot about a person by a couple different things you know how they dress what their desk looks like or this or that I can you being a perfectionist in here translate to you being a perfectionist in commercial real estate and and analytical and so you're so careful and you're always ready to go I mean you're ready for battle which is what I like to say I mean you're ready to pull the trigger when it comes to buying sub place because you're always prepared and preparation is the key to success so like things like that when I see that besides thinking you're a little crazy that's why you're successful thank you thank you that must have been my wife using a different name humble person seven years ago he and he and his girlfriend Heather hosted the grand opening of my new Covina no way Covina office I truly appreciate them taking the time to join us that day I've been in the real estate business for over 25 years and met a lot of top agents and brokers josh is the real deal he sure is my question for you I love that by the way I remember that and the way I do a lot you know I do a lot of speaking engagements a lot of openings of offices and and and appearances and I love doing that I love seeing real estate businesses being born and where they are today others yeah so what discount brokers like Amazon Zillow's and other using you know technology and marketing the consumers with rebates and discounts Commission's for real estate services how do you add value to your clients I guess how do you battle that technology edge yeah it's a great question for me it's you know the computer can only take it so far but the humor human interaction is what ends up closing the deal I mean what we deal with all day long is yeah I mean look you don't sell tract homes I'm guessing right well we sell everything you know let's sell anything but yes yes if it's a tract home that's one of 37 in a row and anybody can do a comp because it's the same exact house it's a little of a different story but at the end of the day the the emotional aspect of high-end residential real estate nobody can know computer can touch that I agree I agree good point all right who know for first-time homeowner in Orange County what areas would you recommend you're not from Orange County but I am very what areas and what are the biggest red flags in looking at a property well look I was I always say this and no matter where you are in the world in the country wherever you are watching this I always say when it comes to real estate it's always better to spend a little more money on on the look on a better location because in high markets and low markets obviously prices change but in a low market prime locations always get hit the less the least yes so I'm always all up for spending a little more even if the house is not as nice in the prime area I would do that because investment wise over time the trophy areas are the ones that are gonna hold and go up all right Jay I look up to you Josh and one day we would love the opportunity to be on his team has Josh ever considered having another intern after Jacob I don't know I would love the opportunity to sit down with you and meet with you just graduated from high school and nice in real estate but we love the opportunity to work with you what obviously is you know shouting out here for internship you know what you know what school is is number one is you never know unless he asked so an interest in real estate in real estate you can never be shy the fact that this this kid just graduated high school and he's already you know reaching out like that I could tell you if he works for me or interns for me or not he's gonna be successful I love that you know he mentioned Jacob who started as an intern for me in fact I was driving my 427 Cobra down Sunset Boulevard on Sunday morning about eight years ago and Jacob pulls up in his mom station wagon and he was just going into college and he's like I need to work for you I need to work for you and and and I was like guys crazy and I sped up ahead you know that was I was in a pretty fast car he caught up to me at the light and eventually I ended up hiring him as an intern and during college every every weekend he would come back and show houses he just turned 23 he is now a partner at the Altman brothers and that twenty three old kid just made a million dollars last year yep started working for free never complained always worked hard and that's that's it never never asked for any free handouts he went out there he learned he became an expert and yeah so back to real estate market yeah where do you see the market going I mean you you're a mover and shaker when it comes to high-end residential and I do commercial so I'd love to get your insight on that end of the market so the real estate market right now is very interesting there's a lot of highs and lows all at the same time you know where I am in the the LA market there'll be a record that's broke in one week and then somebody loses millions of dollars in the next week on a property it's all over the place and we need this switch happen it happened in my opinion it happened about 14 months ago yeah when we started to see all of the high-end inventory starting to hit and these were people all these developers and investors that we sold houses to two and a half years ago yeah so they're all finishing at the same time right now and there's a lot of supply which means that the prices come down a little bit and I think that the next 24 months if you're a real estate investor is going to be a prime time for you to get your money together and get your funds ready to go because there's going to be a lot of great real estate investment opportunities and I personally mmm selling a couple properties right now because I want to be cash heavy for the next two years because look the mentors and you can attest to this because you've done this better than anybody buying in low markets you know and the markets are down that's where people make money on the bike yeah something goes on 3 million marks you just made 3 million because you will always come back because you hang on and whether this one that's right yeah that's right awesome well I see the same viewing commercial I mean it's kind of like the sea level right all boats rise and go down at the same time right and all asset classes right now the bond market tells you everything come on market fear factor you know it's going down people are fleeing up buying bonds for safety and that tells me people are paranoid yeah you know and sellers are doing more price reduction they're getting motivated and yeah I'm with you and I'm actually excited you know this the past seven eight years being boring I've just been buying hard I mean waiting for recession let me tell you something yeah the it's exciting and a good agent a good investor a smart investor is able to weather the storms because they're good at what they do they see opportunity where other people don't see opportunity and and the ones who stick with it for the long run end up winning yeah well thanks for coming down but before you leave you're gonna have to drive so my car's smoked cigars with my son smoke some cigars so guys make sure you follow Josh all men the Altman brothers yeah also the V Josh all men that's right check out the YouTube channel subscribe and a new program coming up again tell us about that yeah so this is for real estate agents strictly for real estate agents that want to be rockstar agents it's it's listen everything we just spoke about right now that's just the beginning that's awesome yeah I love it yeah so make sure you subscribe below and check out my mentorship program as well and now we're gonna go drive some fun cars and smoke some Cuban cigars let's do it let's do it cool - I got a big one closing right now yeah yeah yeah yeah so Josh yeah here's the moment we're gonna drive some cars so today we have choices for cars okay unfortunately they're all the same well so I'm gonna go with you know what I like I like bees okay you take the silver one fine I'll take the gray one done go to my Cubano road smokes up see come on let's roll and who knows I love the Cubano room by the way [Applause] [Music] [Applause] [Music] [Applause] yo Bonnaroo boys human in here Jesus heythis he got the Hibiki this is good stuff somebody gifted it to me oh for sure yeah when I was in Japan this is all I drank no way yeah it's amazing yes definitely it's good whiskey [Music] [Music] [Music] [Applause] [Music]

Channel: Manny Khoshbin

Views: 1,016,777

Rating: 4.8967423 out of 5

Keywords: Manny Khoshbin, Hypercar, Business, Success, Investing, Real Estate, Investor, Millionaire, Wealthy, Car Collector, Orange County, Lifestyle, Vlog, Irvine, California, AP, Watch, Coffee, Cigar, Home, Essentials, Josh Altman, Million Dollar Listings LA

Id: Fr4YMUHlAA0

Length: 29min 49sec (1789 seconds)

Published: Wed Aug 28 2019