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 – [email protected] 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