If It’s Not In Writing, It Won’t Happen In Real Estate – Ryan Kelley
On this episode of The Closing Table, we sat down with Ryan Kelley!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Ryan Kelley…
The conversation began with a this or that icebreaker on teamwork, mortgages, and more. Ryan then paints a vivid picture of his life outside of the real estate realm. He proudly introduces himself as a devoted husband and father to six kids, living in a serene wooded area with their two dogs. Embracing a unique lifestyle, Ryan’s family manages a mini-farm, complete with 25 chickens, ducks, and a variety of bushes and trees. Engaging in tasks like tree-cutting and firewood preparation, he cherishes these simple activities that allow him to appreciate the world and provide a nurturing environment for his family.
Ryan’s expertise lies in West Michigan, where he operates in both the commercial and residential real estate sectors. In the residential market of West Michigan, the scene is robust and continues to favor sellers, making for quick transactions. Properties are in demand, and the market remains strong.
Shifting focus to the commercial real estate side of things, West Michigan also proves to be a lucrative area for investment. While commercial transactions typically involve a longer process during the due diligence period, it remains a compelling sector for those looking to invest. Unlike residential properties, commercial spaces cater to a more specialized pool of buyers, as not everyone seeks an investment property. However, despite this distinction, the market remains solid, with cap rates (an evaluation indicator of property purchase price) remaining stable even with the rise in interest rates.
Kevin then asked Ryan to walk us through his typical work day in real estate. Ryan explains that in the dynamic world of real estate, each day can bring unique challenges and opportunities. Despite the lack of a rigid schedule, he follows a consistent morning routine to prepare himself for the day ahead. His alarm rings at 6 o’clock, and he intentionally avoids checking his phone, emails, or social media at this time. Instead, he focuses on personal care by staying hydrated, engaging in a workout and stretching session, and having a nutritious breakfast. Once physically and mentally ready, he begins the work side of things by jotting down tasks on index cards, allowing him to physically check them off as he progresses through the day. These tasks may include following up on emails, making important phone calls, attending appointments, setting up showings, and handling closing-related matters. The real estate field is full of unpredictability, so Ryan emphasizes the importance of flexibility while maintaining a consistent routine to set his mind in the right direction. He also reserves some time during the day to relax and recalibrate, preventing burnout and ensuring he remains fresh and focused.
Next, Ryan shares a memorable story of a client with a unique vision for their dream property and how he helped make it a reality. Ryan reminisces about one particularly remarkable client who had a visionary idea for their real estate investment. They were eager to venture into real estate investing and identified a duplex with two units that were in dire need of renovation. Despite its poor condition, the client saw the potential and had a clear plan for transforming the property into a profitable investment. They decided to purchase the duplex and turn it into a source of passive income.
Throughout the journey, Ryan played a pivotal role in guiding and supporting the client through the entire process. He provided valuable insights, encouragement, and advice, giving them the confidence to undertake the necessary renovations and changes. The client gradually improved the property, and as a result, the rental income from both units increased substantially. In a strategic move, they lived in one unit for a period, further enhancing their investment returns.
Ryan acknowledges that in the world of real estate, there are instances where intense disagreements can arise between agents representing buyers and sellers. As an agent, he takes the responsibility of representing his clients honestly, but also advocates fiercely on their behalf. These altercations often occur when certain aspects of a transaction do not come together as expected. Ryan emphasizes the importance of having agreements and negotiations in writing, ensuring legal justifications are present for any client-related disputes. This approach helps maintain clarity and professionalism in resolving conflicts.
When asked to narrate a positive impact on the community through a real estate transaction, Ryan and his family have actively engaged in making a positive impact in their community through various real estate transactions. Through their church, they have acquired different types of properties, using them to support community initiatives and give back to those in need. Additionally, Ryan shares an example of a company he previously worked for, where they organized a community event to raise funds for different causes. These efforts go beyond mere sales transactions and contribute to the betterment of the community, providing support to charities and causes that matter.
The two then discussed the most challenging aspect of the real estate industry. Ryan believes that the most challenging aspect is finding the courage to take action. While there is an abundance of valuable information available through books, podcasts, and other resources, it takes courage to implement that knowledge. Overcoming fears, making phone calls, meeting people, and honing skills are essential components of success in the real estate industry. Ryan draws inspiration from Theodore Roosevelt’s quote, “The Man in the Arena,” which emphasizes the importance of taking action and not being deterred by the possibility of failure. Learning from both successes and failures and never giving up are crucial elements of growth and success in the real estate field. Ryan shares a personal story that motivated him to realize the significance of taking action and embracing opportunities to learn and grow.
As the principal broker and owner of NuCon Realty, Ryan has earned a reputation as a trusted real estate advisor. He shares a compelling story about a challenging real estate situation involving a developer he worked with several years ago. The developer was involved in a residential development with 140 lots and houses. As they progressed, internal friction arose on the other side of the table, leading the developer to want out of the deal despite having numerous contracts already signed. This posed a complex challenge that required careful navigation.
Ryan took a step back to assess the situation and find a solution that would benefit all parties involved. He facilitated a transaction with another company, resulting in the sale of the entire project. While the developer earned slightly less than they would have if they had completed the project themselves, they were able to recoup their investment, and everyone received the compensation they were entitled to. Despite the initial disagreements, the resolution turned out to be successful in the end, leaving all parties satisfied.
The conversation wraps up with Ryan reflecting on his journey and highlighting the key lessons he has learned in the real estate industry. Courage and taking action have been fundamental to his growth and success. He emphasizes the importance of seeking mentors, learning from books, and taking the necessary steps to acquire knowledge and skills. Ryan firmly believes that everything in the real estate industry is learnable, and continuous learning has been crucial to his development.
Check out Ryan Kelley:
Facebook: https://www.facebook.com/REMAXAGENTRYAN
Facebook Business Page: https://www.facebook.com/thepropertycousins
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