State of the Economy, Interest Rates, and Where Opportunities Are in 2023 | Kenny & Krystle Simpson Pt. 1 E11

The Rich Somers Report

Rich Somers

Business, Investing

5.0 • 1K Ratings

🗓️ 10 January 2023

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Rich is joined by two of the best in the industry - Kenny & Krystle Simpson of The Simpson Team & Pacific Shore Capital. They share their insight on what’s going on in today’s economy, the federal reserves, interest rates, and discuss what’s happening in the market. They dive into the pros and cons of real estate investing in California compared to other areas, and where they see opportunity in 2023. Connect with Kenny & Krystle on Instagram: @kennybsimpson + @...

Transcript

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0:00.0	And to be honest, I get it.
0:01.6	A lot of people were investing out of state
0:03.2	because they were getting higher returns, like not necessarily
0:06.1	building equity or the appreciation, but they were getting higher, like just cash flow.
0:10.7	Yeah.
0:11.5	But if you talk to anybody that's owns in Texas now and some of these
0:15.0	other places that were well known for for being cash flow states, yeah.
0:18.8	It's changed. It's more like California. So now you're oh, oh now you have to buy deals and like look at the
0:24.9	upside and maybe you're not going to get as much cash flow but you're going to get more
0:28.4	appreciation like they're all dealing with the same type of investments now that we are.
0:33.5	So now I'm like, I'm not going out of state.
0:35.4	And then plus I realize like, yes, I want the cash flow,
0:37.8	but you cannot beat the appreciation that we get here.
0:40.6	You cannot.
0:41.4	And that's never gonna go anywhere long term.
0:43.2	Yes, it might go up and down in the in the short to midterm, but if you can buy
0:47.3	well-located assets anywhere in Coastal California and hold them for 10, 15, 20 years, you're going to make more money than got.
0:54.0	Welcome to the Rich Drummers Report where we talk real estate, business, and wealth building
0:59.8	all while keeping it real.
1:01.3	No fluff, no BS. I hope that you enjoy the show.
1:09.6	All right, welcome to another episode of the report. Today we are in for a treat. We got two of my
1:14.4	favorite people here in the brand new podcast studio. First interview in this studio.
	...

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