Real Estate Forecast for 2020 with Bruce Norris DDRE#3

Data Driven Real Estate

This week we welcome long-time real estate investor and hard money lender, Bruce Norris. Sean asks how Bruce got in the real estate game, how he evolved to educate real estate investors, and how Bruce went from investor to California real estate timing expert. Sean and Bruce discuss likely trends in 2020 and 2021, foreclosures, interest rates, and some important things the US might need to consider as technology continues to displace workers.

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1. Ask questions about this show in our community (00:00:00)

2. Bruce Norris got started in real estate knocking on doors? (00:01:02)

3. That one time in 1995 where Bruce bought a California house for LESS than a new Honda Civic (00:01:45)

4. o you need a real estate license to be a real estate investor? (00:03:27)

5. Do you need amazing people skills to be a real estate investor? (00:06:35)

6. The hardest real estate deal Bruce ever closed (00:08:25)

7. When did Bruce make the move to hard money? (00:10:13)

8. Bruce has no formal training in statistics, what was his process? (00:21:42)

9. Why Bruce wrote the California Comeback report (00:22:43)

10. How quickly real estate prices dropped in Stockton during the Great Recession (00:25:55)

11. Should three morons raising their hands to buy a piece of real estate set the value? (00:28:06)

12. An alternative to the current state of real estate appraisals specific to government-back loans (00:28:30)

13. What did Bruce see that had his predicting the market crash in 2006? (00:29:08)

14. How Bruce finally understood what a collateralized debt obligation was (00:31:07)

15. The year Sean’s real estate partner called him crazy (00:37:51)

16. A major reason there’s more competition at trustee sale (hint: thanks Sean!) (00:41:28)

17. Where are we in the real estate cycle in California and Florida? (00:44:04)

18. Will round two or three of Coronavirus have unemployment at Great Depression levels? (00:44:57)

19. When Bruce and Sean, free pandemic, predicted a 2% interest rate (00:45:44)

20. Who thought that interest rates would start with a 2% sooner (00:47:18)

21. The trouble with independent mortgage banks and interest payments no one is talking about (00:47:24)

22. Could the US interest rates mimic the journey of Japan’s? (00:49:43)

23. The US government printing all this money means inflation! Right? (00:52:44)

24. American needs to find out what to do with society when it doesn’t need 40% of the workforce? (00:53:42)

25. Will corporate debt be a drag on the economy in 2020? (00:56:19)

26. We are not living in a true capitalistic market (00:56:50)