Will The Housing Market Crash In 2023? With Kathy Fettke

REID Kathy Fettke | Housing Market


The housing market is a hot topic these days—and for a good reason. The economy is booming, and people are looking to get into their dream homes. But what if the housing market crashes by 2023? In this episode, Kathy Fettke shares her journey from modeling as an acting agent to becoming a real estate thought leader and educator. She discusses the state and trends of the housing market, especially this coming 2023. If you are worried about a massive downturn in this space, then tune in because we’ve got some answers for you!


Get in touch with Kathy Fettke





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About Kathy Fettke

REID Kathy Fettke | Housing MarketKathy specializes in teaching people how to build multi-million dollar real estate portfolios through creative finance and planning. She is passionate about researching and then sharing the most important information about real estate, market cycles and the economy. Author of the #1 best seller, Retire Rich with Rentals, Kathy is a frequent guest expert on such media as CNN, CNBC, Fox News, NPR and CBS MarketWatch. She’s the host of two RealWealth podcasts, The Real Wealth Show and Real Estate News for Investors, and co-host of the BiggerPockets “On the Market” podcast.



Will The Housing Market Crash In 2023? With Kathy Fettke

We have our guest, Kathy Fettke. She’s quite a diverse individual. We’re excited to interview her and learn more about her.

We go and research a lot of expert guests to bring them on so they can give you a lot of golden nuggets, their experience and expertise, so you can utilize a lot of that information to make profitable real estate investments and learn about the space. As I was researching for guests, I noticed Kathy was all over the place. She’s been interviewed by many greats. She has her own platform where she interviews. She’s an educator, an author, and a syndicate. She’s a busy bee.

She was on BiggerPockets before BiggerPockets was BiggerPockets when they first started a few years ago. We want to have an engaging conversation with her and put her somewhat under the gun, get her to answer some difficult questions as far as where the market is, and where the market is going. As we speak, just a matter of a few seconds ago, 11:07 AM, Wednesday, June 15th, 2022, Jerome Powell announced that interest rates have gone up by 75 basis points. It’s the highest raise almost ever that’s taken place, a one-time raise, or it was one at a time that might have been higher. This is going to be affecting the markets greatly, and we’re going to Kathy’s opinion about this. Tell a little bit about Kathy and we can start the show.

She’s an educator and the Founder of RealWealth.com. Kathy has helped over 60,000 people acquire cashflow rentals in the fastest-growing markets nationwide. She has also syndicated fifteen residential developments. We’re going to jump into exactly how she did all of this stuff. Welcome, Kathy to the show.

Thank you so much.


REID Kathy Fettke | Housing Market


Thank you so much for being here. Can you please tell us about your background and your start in real estate? I believe, at some point, you are even modeling an acting agent.

Tell us how did all that come about? How did it go from modeling an acting agent into a real estate thought leader and educator? I believe you started your company some time in ‘86. I think Ava was born sometime in ‘89.

Kathy, please walk us through the whole journey.

I’m a serial entrepreneur. I learned very young that I don’t like working for other people so I learned how to work for myself. I wanted to be an actress but I’m horrible at it so that didn’t go very far. When I was young, I thought, “I keep submitting myself to all these agents and I’m not getting anywhere. How about I start my own agency and submit myself under a different name?” That’s the funny story. The bottom line is I wasn’t very good at that. What I was good at were more industrial films. I ended up getting paid very well.

I think I was only 22 years old and making $1,200 a day back then, which might be more like $3,000 to $4,000 a day to day, maybe even more. I pretended to be a nurse and explained how to do certain procedures that I knew nothing about. Anyway, that was my modeling thing. By random chance, I was in a bar and started flirting with a guy who ended up being a casting director, and then I had a real legit agency for a while. I was putting people into pretty big films, but when I met my husband, Rich Fettke, it was a lot of work and I changed fields. It was, at that time, that his book took off in his career. His book was Extreme Success. He was on the road coaching people.

He was on big media, flying to New York, and being on big shows. They were treating him like he was the next Tony Robbins. It was during that fancy book tour where he was on USA Today front-page type stuff, he noticed a freckle. It was on his forehead and he went to get it checked when he came home from the tour. It turned out to be melanoma and the doctor, after further tests, thought it had metastasized to his liver. He told my husband he had about six months at best. That was a shock. We were at the top of our game. We bought a big new house and he had this book.

What year was this?

It was 2002. We had a 3-year-old and a 7-year-old, and a mortgage payment at that time of $4,000, but it might feel like $10,000 or $12,000 now. It was terrifying. Who cares about the payments more than the love of my life? I refuse to believe it and I do believe in the power of intention. He’s going to be fine but in the meantime, I’ve got to figure it out how to take care of the finances, even though I’d been a stay-at-home mom for a few years and forgot how to make money. I did have a side radio show because of my background in broadcasting and acting. I had this radio show in San Francisco that didn’t make any money.

It was probably a lost leader. I did it because I loved it, and I could get out of the house away from the kids for a couple of hours on Saturday, but I thought, “Why don’t I use this medium to figure out how other people can make money without working? What’s this thing called passive income?” I didn’t understand it. I didn’t come from a family who understood how to invest.

My dad was a dentist and did well enough that we could go to college and had the things we needed, but he never knew how to invest. If anything, doctors and dentists at that time were often horrible investors and lost most of their money because they didn’t trust people and didn’t have the time to study it. I thought, “I am going to learn this.” If that’s the message I could give to people now, when you are 100% committed to being good at something and putting in the time, you will be. You have to invest in yourself and your education. That’s what I did, and I did it on the show that I had at that time.

When you are 100% committed to being good at something and putting in the time, you must invest in yourself and your education. Click To Tweet

What about the transition into real estate? How did you get involved in real estate? What were you doing? Talk to us about that.

I started interviewing millionaires. I didn’t know millionaires at that time. I might have known them, but I didn’t know they were millionaires. I didn’t know anybody with money. Maybe people that made a decent salary, like where I came from, but weren’t wealthy from passive income could live off of their investments. I started interviewing people on this show. It was a pretty big San Francisco station. Luckily enough, I wasn’t the only person interested in this topic, so my show grew fast once I focused on the idea of passive income. I ended up bringing on a mortgage broker as a sponsor. That was one way that I was able to make money right away.

I brought this person on as a sponsor and charged him a lot of money, and that helped us through some of the medical bills and the tough time we were going through. The blessing in this was that he was a mortgage broker and a mortgage broker who understood investing in many of his clients. He was giving investor loans too, and they were making lots of money from good leverage and understanding how to borrow money to make money. I thought, “If I do ads on mortgages, it’s boring, I’ll lose people, and nobody cares. If I interview his clients and find out what they are doing with these loans and how they are making passive income from real estate, then that would be interesting.”

That’s what we did. We interviewed people who were doing all kinds of things. There’s so much to learn when it comes to real estate, so that expanded my awareness. It expanded the audience’s awareness. Suddenly, our phones were ringing off the hook with people who wanted loans. My partners and sponsors said, “You should get your real estate license and help these people.” I did. Six months later, I was a mortgage broker. Maybe one of the busiest ones, and I remember my first client came in. He was a multi-millionaire.

I was still getting by. He sat down at my desk and put all of his finances out, and said, “Tell me what to do.” I was looking at him and was like, “I have no idea.” I faked it. I ran out, grabbed my sponsor, and brought him in. It was at that moment I thought, “I don’t know how to invest, but neither does this millionaire.” That’s when my awareness came that we need to create a network that’s honest that teaches people what to do with their money and not rip people off.

There must be an honest network that teaches people what to do with their money and not rip them off. Click To Tweet

That’s how we started RealWealth network. It’s bringing people that were willing to share the secrets of success, not force you to go run to the back of the room and pay $10,000 for some CD program. I want a place where it’s free and safe, and people can come and learn from other successful people who have nothing to sell.

Why don’t you talk to us about what you’re doing now? You mentioned how you help people invest in 1 to 4 properties.

Before you go into that, did you create the RealWealth Network prior to GFC?

That was in 2003.

You’re helping people invest in real estate, single-family, and 1 to 4 units. You helped thousands. What happens there? What is the thesis? How are you helping people? Is it subscription-based? Are you getting a commission being a broker? Are you doing a mortgage? How do investors connect with you? What differentiates you at this time from any other real estate broker that it is? We’re going to get into how you survived and how your investors survived 2008.

As I said, when you invest in yourself and your education, you start to see things that other people can’t see and an opportunity that others don’t know is there. That’s what was happening. I was interviewing investors over and over again, finding out how they were making money when other people weren’t. That expanded my knowledge, and one of those investors was Robert Kiyosaki, the author of Rich Dad Poor Dad, who many people followed. He’s helped people break through the mindset to understand cashflow. I had him on the show several times, somewhere around 2004 or 2005.

REID Kathy Fettke | Housing Market

Housing Market: When you invest in yourself and your education, you start to see opportunities others don’t know are there.


Is this the radio show you’re talking about, Kathy?

Yes. I had a big show that I was able to get big names on. It was then that he explained to me, and I knew firsthand because I was in mortgages at that time. I remember one of my early mortgages where this person came in and did not qualify when I turned in his application. I fully expected it to come back. Instead, the bank called and said, “He qualified.” I was like, “How is that possible?” “We adjusted his income.”

“How can you do that?” They’re like, “Stop asking questions. We got it.” That’s when I realized something was seriously wrong here. This is not okay. I came home and told my husband, and he said, “It’s not just okay. They call that fraud.” I knew what was going on, and I was very concerned. When I had Kiyosaki on my show and I explained that, he said, “There’s fraud everywhere. It has become normal but people can’t see it.” People couldn’t see that, and it was so obvious.

What are you advising your clients at that time? Are you advising them to buy or not to buy? What’s happening?

I wasn’t going to advise them to buy in a fraudulent frothy market. I didn’t know what to do, but that’s where I was able to bring in these experts who had been in the business much longer. Kiyosaki said, “You got to get out of the frothy markets and get into the cashflow markets, where the jobs are, the people are moving to and the numbers make sense.”

He was investing in Dallas. When I started to look at that because I’m from California, these numbers do make sense. I started to follow the jobs and see all the businesses that were moving to Dallas because of the tax incentives and the job-friendly environment, and yet, the home prices were so cheap. I was not conventional at all. I jumped on a plane and was like, “If it’s good enough for Robert Kiyosaki, it’s good enough for me.”

I found the first agent I met with who wanted to sell me these $400,000 houses that didn’t make sense. I thought, “She sees a big D on my forehead.” I knew enough to not get ripped off. I ended up finding property managers. I met with ten property managers. I feel like property managers will tell you the truth because they have to take care of the property. They’re not getting a commission and walking away. I thought, “These people are going to tell me the truth.” They showed me where the rental demand was and where people could afford it. I bought properties in this path of progress where it made sense. We were buying $120,000 brand new, gorgeous homes that rented for $1,400 to $1,500 a month.

Is this you, yourself, and your family, or is this you and your group of investors who bought it?

We tested it first. My husband, Rich, and I did it first. We bought eight properties because, back then, it was easy to get a loan. You didn’t even need any money down in some cases. I could go on a trip and come back with eight properties. It was crazy times but you might think that’s speculative and most people were speculating. This is what I’m talking about. This is when people were doing crazy stupid things. You could say that we were going and buying 8 to 10 properties on the weekend is not smart, but they were cheap and cashflowed. Relatively speaking, they were quality properties and beautiful brand-new homes, and they cashflowed right next to an area with the highest job growth in the country.

Where are they now? Have you exited these properties?

Do you still own them?

I was literally taking a walk feeling regretful and then I remembered regret is never a powerful emotion. We sold them in 2012 before the values went up because I thought, “There are better deals elsewhere.” Unfortunately, that was a bad choice. Those properties we paid $120,000 for are probably worth about $500,000 now, maybe more. One of the lessons is if you’re in a good area with A-class schools and it’s working, don’t sell. Hold it. Take maybe a refi, take the money, and go to something else.

If you're in a good area with a class schools and your real estate strategy is working, don’t sell. Click To Tweet

Every real estate investor or any investor has always said that to themselves. They’re like, “Darn it. I wish I held a little longer.” The next topic I want to touch on, Kathy, when we were doing some research about you, we realized that you speak lots about market cycles. You’ve been through a few real estate cycles yourself. What is a real estate cycle?


REID Kathy Fettke | Housing Market


It’s the ebbs and flows of the economy. Unfortunately, it feels more like there are puppeteers and we’re the puppets. A free market natural economy is basically supplied versus demand. If people want something and somebody provides it, that’s an economy. if there’s too much oversupply, then prices go down. If there’s not enough supply of something people want, prices go up. Now, it’s very manipulated. It’s hard to forecast when you don’t know how you’re going to be manipulated.

REID Kathy Fettke | Housing Market

Housing Market: If there’s too much oversupply, prices go down. If there’s not enough supply of something that many people want, prices go up.


The Federal Reserve controls the money flow, and when they open the valve and pour a bunch of money into the system, that generally leads to price gains and inflation. Inflation and the things that are of limited supply but people want it. When they open up the floodgates to make money cheap with low-interest rates and to print money and add money to the money supply, that will generally drive-up prices on the items that people want because there’s more money chasing them.

When things get too hot, prices go up too much and inflation gets too high, the Fed pulls it back. They raise the interest rates to make money more expensive so people don’t transact as much on things that are too expensive. They stop the printing of money and money goes out of the system by selling off their assets. The best way I can say it is we’re at the whim of the Federal Reserve.

In your opinion, real estate is cyclical.

Now, it’s in the hands of the Federal Reserve. That’s all I can say.

Overall, real estate is an asset class as a sector.

Lots of people have been saying real estate is cyclical. Since 2014, there have been people saying that real estate was going to crash, and they were completely wrong. The reason they were saying that is because they thought it was cyclical, and they said, “Every ten years, this happens.” That’s not how it works. Now we have the Federal Reserve that will either print a bunch of money to keep things up or not. Yes, it’s cyclical, but who’s controlling the cycles? That’s where you’ve got to look. We know that the Federal Reserve is tightening. They are trying to make money more expensive and slow down inflation. The funny thing is they created the inflation and are trying to slow it down.

REID Kathy Fettke | Housing Market

Housing Market: Federal Reserve is tightening. They are trying to make money more expensive and slow down inflation. But ironically, it is them that created inflation.


That creates a cycle that we’re in. We wanted to be more knowledgeable but go ahead, Ava, if you want. We were researching real estate cycles and real estate does go through cycles and continuously goes through cycles. It goes to recovery, expansion, hyper-supply, and recession. By that explanation of real estate that goes through recovery, expansion, hyper-supply, and recession, which one of these stages do you believe we’re in currently?


REID Kathy Fettke | Housing Market


Shockingly, we’re still in a stage of that where it’s undersupplied.

Is this for both multifamily and single-family if you look more at the residential side?


We want to focus more on the services you provide. I’m reading up on you a bit. You’re helping over 60,000 investors. What is a journey of an investor if investor sees some form of content out there? For example, on our show, they want to connect with you. They want an investment with an expert. I earlier asked you this question. What sets you apart from a real estate agent? If somebody comes to you, what is the service they receive when they’re about to invest in a 1 to 4-unit real estate asset going through you and your network, or do they go to a real estate agent? What are the services you provide that you have already done to 60,000 investors?

I learned back in 2004 that most real estate agents are not experts in investing. They may be an expert at helping you find your dream home. When I got off that airplane in Dallas and met with one of the top agents, she was directing me into the most expensive neighborhood that was negative cashflow. That’s when I learned, “I don’t want to talk to agents. I want to talk to investors, and I want investors to help me. Where do I find that?” That’s when I thought, “I wonder if the property manager knows better.” It turns out that the property managers we decided to work with owned the property themselves and they understood.

If you go to ask any real estate agent what a 1031 exchange is or what the tax benefits are, most won’t know that’s changing. There are more and more people who do understand this, but the average agent doesn’t. They get it wrong and they mess up. They shouldn’t be giving advice at all if they don’t own investment property. I would say the biggest difference is that I create a network of real estate investors who will provide you the real estate because they either are property managers themselves or they work with property managers that they have good relationships with.

If you were to decide, “I want to buy a property in Dallas, Texas. Who should I call?” You’d probably call somebody who has invested in Dallas. That’s what we provide. We’ve invested with these people. We now have thousands of people who have invested with these teams. There’s a track record, knowledge, and an understanding of what people want to achieve, which is financial independence, cashflow, and passive income, like we talked about at the beginning. It’s not living in your dream house.



Investors come to you, you guide them, and hook them up with the right people in order to make the right investment.

They can connect with others. That’s part of your mastermind or your network. Is this a subscription-based process? What is a fee they pay? How do they connect with you? How do they become part of your tribe?

I should have charged probably over the years, but I think I was so angry back in the beginning when I started that there were so many shysters out there that were ripping people off. I went to the extreme opposite and said, “I’m going to give it all away for free because I want to learn, and this is what I would want.” The way I monetized that was I was a mortgage broker so I would do the loans. I’m not anymore now. My husband is a real estate broker and we make a broker-to-broker fee. If you’re going to pay, you’re paying that anyway. Some of that comes to us and it’s free to the investor. We get a portion of the broker fee and there’s so much volume that they don’t mind sharing it with us.

To quickly go over this journey is very important. We are looking at an asset in Dallas, but it’s more of an institutional-type asset. If somebody sees you on the show, a Canadian or an American, learn about your experience, wants to invest in 1 to 4-unit property in Dallas, Texas, and hopefully, cashflowing, walk us through that process. If they get on a call with you, what happens next?

If you go to the website, RealWealth.com, which is free to join, you will automatically have the choice to speak with one of our investment counselors who are all very experienced. None of them need to work because they all own enough property at this point, and they’ve bought through our network. You’ll get assigned to one of them once you join and you can have a call. They’ll help you set up your strategy. Everybody’s strategy is different. You might be somebody who’s busy and make much money that you don’t need cashflow.


REID Kathy Fettke | Housing Market


You want the tax benefits. It might be a different asset than somebody who wants to retire or travel the world and wants $2,000 a month in cashflow. They want to be in Ohio. Everybody has a different goal. Our investment counselors will help you map that out and then point you in the direction of the teams that can provide the deals to help you meet your goals. Also, on the website at RealWealth.com, there are different cities that we believe have a job and population growth and the numbers work.

How do you get that data?

You joined for free. It’s on there and there’ll be a list of it.

How do you guys get that data?

We now have over 60,000. We send out surveys regularly to find out, “Where are you investing? Where’s it good?” Part of it is my connections now with so many economists and I’m constantly interviewing people on The RealWealth Show who have access to far more charts than we have a RealWealth. They give them to us and show us where the growth is.

We know that the Southeast is one of the fastest-growing parts of the country and is still affordable. Now I’m in Boise, Idaho. I’m in a hotel room and in a conference. Boise used to be in the market we invested in a couple of years ago. Now, prices have gone up at 40% since 2021, maybe 50%. I wouldn’t necessarily do it now. There’s a lot of growth in the Northwest, but is it going to cashflow? Probably not, unless you find a great deal. In the Southeast, you still can get that growth and cashflow. We’re always looking for that. Where can you get it all? Where can you get cashflow and appreciation? Being in California, I’m not that interested in cashflow. I think that’s a little bit boring.

Do you still live in California?

I do. I’m one of the few.

Let’s go ahead and switch the conversation. Let’s talk about syndication. In some of your interviews, I do watch syndicate deals. You do focus on development projects. Talk to us briefly about how you structure your co-syndication. Are you partnering with a developer where you syndicate and you bring on investors who’ve connected with you and then come on the equity side? Are you partnering with a general contractor? How are you structuring these syndicated ground-up development projects that you’re building and the subdivisions that you speak about?

It certainly evolved over the years. In the beginning, I was giving. I was angry at the system. I like to shake things up. I remember very early on, as I was learning. I had a developer call me in 2009. He came out of retirement and he was like, “I can’t just sit and watch these deals. I can get stuff for $0.10 on the dollar. Can you raise money?” I said, “I have no idea.” He would walk into BMA, and there would be aisles lined with boxes of foreclosed land, subdivisions, and things that the bank wants nothing to do with. What’s a bank going to do with a half-finished subdivision?

They don’t do those kinds of projects. He was able and he does. He would go and talk to the asset manager at the bank and say, “What’s in this box?” “I don’t know. It was an escrow for $6 million. What’s your offer?” “I don’t know. $600,000.” “Okay.” He called me and said, “Banks are shut down. They’re failing left and right.”

If you’re going to syndicate a subdivision that’s being built by a developer, are you partnering with a developer currently?

No, we’re not doing any more ground-up. It’s too hard.

Are you involved in the syndication at all?

We’re doing buy and hold only because it’s very hard to get anything with that.

What type of asset class?

We’re doing a single-family fund.

Do you raise capital from a group of investors and deploy it into buying single-family properties that are cashflowing?

A lot of the apartment syndicators, not that we’re not doing that if we find a good deal, but most of them are flipping apartments, and that’s fine. People get excited about all the tax benefits they’re going to get from these apartments. When you flip it, you got to remember this recapture. You’re going to pay those taxes back.

I’m a buy-and-hold investor. I’m not that interested in flipping apartments. I’m going to find an apartment that gives me lifelong cashflow. That’s more what we’re interested in. Single-family does a pretty decent return compared to some other things. Cap rates are so low with apartments. Again, there’s nothing wrong with flipping apartments. Now is going to be a lot harder with interest rates up. I think there are going to be a lot of apartment investors that got caught in these bridge loans.

Tide is going out and we’re going to see some people standing there naked as Warren Buffett said. A quick question for you. What is your number one pick for a single-family investment property as far as the city?

If I tell you, then everyone will know.

That’s good. It brings more volume to that city. Hopefully, you’re already invested.

We’re still in areas outside of Tampa, Florida. I think that’s going to continue to grow outside of Jacksonville part areas in North Carolina surrounding Raleigh and Charlotte. These areas have been expensive, comparatively speaking, over the past few years. You can find suburbs where the numbers still can make sense. These are areas that are growing because all the people are leaving New Jersey and New York. They are trying to find sunshine, lower taxes, and a better way of life. Now they can. They’re moving South.

Your prediction is that it is very unlikely that there will be a housing crash. Can you please explain your thesis?

I want to come and say that so much is out of our control. Fed will continue to raise rates forever, and it’s going to affect housing. Now, we have, as I said, a low supply. It’s hard to get anything finished, and you can’t even get the supplies you need to finish the property, and it’s expensive. Now with rates going up, new home builders get hit hardest. They’re not going to be in any big hurry to build more housing.

This all happens at a time when you have the largest group of Millennials, ages 28 to 34. The largest group of people ever in history coming into first-time home buyer age, forming families, forming households, and there is nothing out there for them because it’s the lock-in effect where people are living in their homes at 3% interest rates, low payments, and tons of equity.

If they lose their job, they’re going to be like, “What do I do? I’ve got $500,000 equity in my house.” They’re going to put their house on the market and sell it. We don’t have a foreclosure crisis. Foreclosures are at very low levels and massive amounts of equity. If people who got into homes with good loans, good credit, the highest credit ever, have equity, and low payments, nobody’s going to leave their home, and there’s not anything new on the market that’s affordable. You’ve got not enough supply and tremendous demand. The reason the Fed is raising rates is to slow down this insanity of prices. As I said, in Boise, it’s going up 50%. That’s terrible for homeowners.

Do you predict there’s going to be a correction there?

There are always markets that won’t do as well as others. In the areas where there’s job growth, population growth, and people coming from high-price markets to more affordable markets, you’re not going to see a problem. Is there may be going to be a problem in Detroit? I don’t know. I don’t invest there. Is there going to be a problem in the South? I don’t know.

I don’t think the problem in Detroit has gone away. Let’s get to the next segment of our show.

The Ten Championship Rounds To Financial Freedom.

It’s a Rapid Fire, Kathy.

Here we go. Kathy, number one question. Who was the most influential person in your life?

I would have to say my husband.

What is the number one book you recommend?

If you haven’t read Rich Dad Poor Dad, you better. The second will be mine, Retire Rich with Rentals.

If you had the opportunity to travel back in time, what advice would you give your younger self?

I wish I could. I think Elon Musk did that. I’m pretty sure he went to the future and came back. I would probably say be very cautious about who you trust. Trust but verify. I was far too trusting in the beginning when I started. Understand your underwriting. That’s what I would tell my younger self.

What’s the best investment you’ve ever made?

It’s probably back when the developer came to me and we bought land in Florida for $0.10 on the dollar. We paid $800,000 for it and sold it for about $12 million.

What’s the worst investment you’ve ever made, and what lessons did you learn from it?

There’s been a few, but the one that comes to mind is when I trusted somebody. I was like, “I’m a radio host. I’m well known. You’re not going to try to screw me over or try to rip me off because I will tell people about that,” but it still happened. Somebody sold me a $50,000 home. I was testing the market. As I said, I like to test it first before we tell our investors at RealWealth. I went to see it after I had closed on it and paid cash. The neighbor comes by, and they’re like, “You’re the California who bought this. It was a tear-down property. It was falling apart. The tenants had to be moved because the house was going to collapse on him.” It was so stupid. It was only $50,000 but a big waste of time, energy, and stress. Again, do due diligence.

How much would you need in the bank to retire now? What’s your number?

In the bank or invested?

It might be a trick question, so we take it as it is.

I’m not keeping money in the bank. I would say that I would be comfortable with $1 million passive income.

If you could have dinner with someone, dead or alive, who would it be?

Elon Musk. Let’s go with that.

If you weren’t doing what you’re doing now, what would you be doing now?

I’m going to guess an actress, but let’s see.

I would probably be a mom and grandma. I have a two-year-old grandson, and that’s my joy.

Book smarts or street smarts?

I can’t choose one or the other. You have to have both. If I had to choose, at the end of the day, it’s going to be your experience of street smarts.

Last question. If you had $1 million cash and you had to make one investment now, what would it be?

I’m buying in our Park City. We have a development in Park City, and I’m buying some of those homes myself because I think some of the high-end vacation areas are going to continue to do well even in the coming years.

Park City is where?

Utah. It’s a very nice upscale ski town.

How much are they going for?

They’re $2 million. I put $1 million down and I would finance $1 million. I think they are on development there and going to double in price.

What’s the best way people can reach you?

It’s RealWealth.com. You can sign up for free and find me in my RealWealth Show podcast too.

We appreciate you being here. You added a lot of value to us. Thank you so much.

Thanks, Kathy. Thanks for being here.

Thank you.