What Do Ellen DeGeneres and JP Morgan Have in Common

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What do Ellen DeGeneres and JP Morgan Have in Common? Real Estate

[00:00:00] Hey, real estate fans. Welcome to the podcast. I'm Alice Lema, broker John O. Scott here in beautiful southern Oregon. We do this weekly podcast every week. So what do JP Morgan and Ellen DeGeneres have in common? We're gonna talk about that, and it's all about real estate, and you're gonna be shocked if you don't know this already.

You're gonna be shocked. So be sitting down. Okay, before we get that information, I wanna give you a quick second to subscribe to the channel. Give us a thumbs up, send it to your friends and family. If you've got some questions or comments for me this weekend, you can text or call me directly and we can talk privately about what you wanna do with your real estate life.

Okay? Yes, we can do it on Thanksgiving, not on on Thanksgiving, but. Friday, Saturday, Sunday, we can talk. Okay. But let's now get to the juicy topic of what Ellen DeGeneres and JP Morgan have in common. Well, it's a lot about real estate. First of all, let's talk about [00:01:00] JP Morgan because they're the bigger player, although Ellen DeGeneres is quickly catching up.

JP Morgan, it was announced today in the financial news, jP Morgan just signed a deal to spend 1 billion with a B for hundreds of rental construction starting in Atlanta. JP Morgan wants to get in the business of being one of the biggest landlords in America, so we have another company called BlackRock that is doing it.

BlackRock's been in the financial news a lot lately because they have some business logistics that they use that are not everybody's favorite. But the point is that we have these monster, monster companies becoming landlords. Why is that a problem? Because it has to do with price fixing. Possibly they're in a position to deal with price fixing because they just have so many units.

They're also taking that inventory out of the normal purchase [00:02:00] market. And thirdly, The mom and pop landlord I think is gonna have trouble competing. And there's philosophical pros and cons to all three of those little alerts that I just gave you, but I was just surprised. I don't know why, but I was just surprised.

Landlording is a great business. We need more good landlords. We don't have enough, especially here in Southern Oregon. But yeah, I don't know about you, but I was shocked that jP Morgan is spending 1 billion with a B, dollars to build, to construct. They're doing new construction. That's the other thing. They're not building to sell.

They're building to rent. That's their new business model. We're gonna watch that during 2023 and bring you up to speed. Now, what does Ellen Degeneres have going on? She just, she just flipped a property and priced it about $400,000 over what she paid, and it says in the article that it is her eighth real estate [00:03:00] transaction in 2022.

So again, it's just having bigger pockets and getting into the real estate business, even if it's your side gig, which for Ella DeGeneres and her wife, Porscha is looking like a side gig, but a pretty, pretty profitable one. So the house that she's selling right now is in the hedge district of Montecito, and it's currently on the market for 5.8 million.

Why is this important? Because she bought it for 5.4 million. And according to the article, they don't think she did anything to it. But that's not fair cuz we haven't seen the house. We don't know. But whether she did something or not, I was just surprised that Ellen DeGeneres at Thanksgiving has just clocked her eighth real estate transaction for 2022.

Good for you Ellen. I think real estate is a great business. I think everybody should be in it. Yeah, so good luck with your sale. So that's our podcast for this week. Hope you had a [00:04:00] wonderful, wonderful holiday with your loved ones, and we'll see you again next week. Okay. Give me a jingle if you wanna talk.

541-301-7980. Otherwise hug the ones you love and we'll see you next week. Bye.