Real Estate Investing with Andrew Lieb

7/12/20: Seg 3: Three ways to differentiate your business + Dan-Tastic Hamptons

July 12, 2020 Andrew Lieb / Lauren Lieb / Eric Feil Season 1 Episode 81
Real Estate Investing with Andrew Lieb
7/12/20: Seg 3: Three ways to differentiate your business + Dan-Tastic Hamptons
Chapters
Real Estate Investing with Andrew Lieb
7/12/20: Seg 3: Three ways to differentiate your business + Dan-Tastic Hamptons
Jul 12, 2020 Season 1 Episode 81
Andrew Lieb / Lauren Lieb / Eric Feil

Learn what's cool in the hamptons and the 3 ways to dominate business

Show Notes Transcript

Learn what's cool in the hamptons and the 3 ways to dominate business

0 (3s):
Here is your personal coach and trusted attorney. Andrew Lieb will help you get started in building your real estate empire, grow your self confidence and get the skills needed to dominate the real estate world. This is real estate investing with Andrew Lee. I've been sidetracking for the last few weeks with you all. I promise that Lauren and I were going into how you're going to be making your acquisition.

Andrew Lieb (33s):
And we've been going until we started off. When we told you how to get your bottom line, we talked about budgeting. We did a whole thing about that. And I gotta tell you when I read the Florida's having outbreaks the new epicenter, I'm thinking to myself, I don't know if I want to buy it. I don't know if I want to buy it. I don't know. Like I'm so torn. This has been an emotional roller coaster for me and for people that don't understand, a lot of people are, as we were just discussing very political. I'm a Republican, I'm a Democrat.

Andrew Lieb (1m 4s):
I'm not either of these things. I'm a business person. And as a business person, I say to myself, there's a few things that make business happen. Ready? Number one, innovative ideas. Number two, legal changes. Number three, global pandemics. I want to do that again. There's three ways to make a lot of money in business. We're going to start off with first one is innovative. Like Google was a really innovative thing. Those guys are brilliant. Sergei, like, come on.

Andrew Lieb (1m 34s):
They're so smart. Like, I feel like a dummy every time I think about how smart these guys are unbelievable. I said to myself, I'm not Sergei. I'm not going to make money from creating this new blue ocean strategy. We were talking the other day, Lauren, you and I do you remember? Do you remember this conversation? And we were talking about your job. You had a job when you were before. I think it was before college and you had to take all of the periodicals and the news.

Lauren Lieb (1m 60s):
No, this was great. When I was in college, I had a summer job at LIPA. At the time I was an intern. This is way before PSEG and my job was to read every single newspaper, read every single magazine, look at every single thing that was going on in for what I did was electric and energy and then put it all together in a binder, give it to every executive so that they had a competitive analysis of the entire industry

Andrew Lieb (2m 26s):
English. She did Google, Google. So basically they wanted to Google what was going on in their industry. So anytime there was anything about energy in the newspapers, in the magazines, she had to clip it. She made, I want you to know Lauren made it so pretty. She had little duty Dougal, Lees. And what do they call it? Duallys or,

Lauren Lieb (2m 44s):
I mean, I think I put it into different color binders. I mean, I think I was 18 years old and I offered no value other than I knew how to spot.

Andrew Lieb (2m 51s):
Clearly, you made a lot of value. If you would have realized to go into computer programming, Sergei would have been out the window and you could have made a fortune. So you can do innovation that way you can, you can go in that way. Another way to do innovation, to be a great business person. Another way isn't just to have the innovation, but illegal change. What am I talking about? That's what we do. Mostly Lauren and I. Our whole business differentiator is tracking statutes and regulations and seeing how those changes are there to make you money. That's what we're doing with the show. We're sharing with you.

Andrew Lieb (3m 21s):
What's worked for us and going through how the legal environments changing and showing you different ways that you can leverage your knowledge differential to make extra money. So if you're in business, let's say you own a restaurant and your competitors in business, let's say they own a restaurant. And you were listening to our first segment today, and you were listening about how I told you about the masks. Can't be on your chin. They have to be on your face and your competitor. Wasn't listening to that. And you implemented a policy. For example, I want to give a shout out to my friends at golden pear.

Andrew Lieb (3m 51s):
They put on Facebook pictures saying, here's proof that everyone that works here, here's our policy. Everyone's wearing face mask. We take this seriously. I thought that was brilliant. Bragging about it. And they should. And they should because they're compliant. Now when their competitor is noncompliant XYZ coffee, and that competitor gets busted. Not because golden pear says anything about them, but because eventually when you break, the law catches up with you and then they get shut down. Golden pears is going to have a strategic advantage. And the cost differential was just buying masks for their people and making them look good, which by the way, Lauren said, you should be proud of these.

Andrew Lieb (4m 25s):
You're setting a good example that we care about the society we live in. As I told you, the masks aren't for the person wearing it they're for everyone else. So by wearing a mask, you're basically saying as a service provider, as a retailer, as a restaurant, or I care about my patrons, I think that's like a good thing to be able to set as your message. What, what did, what's his name? Jack Welch. But what do you say? The cue? You? Oh, so well he said, I think, I think this is what he said is that the customer is always right.

Andrew Lieb (4m 56s):
Don't you have to, I thought that was him. So you have to make the customer feel good. You have to let the customer know that you care about them. And so by wearing a mask, you're saying that, so what we do is legal changes. So I told you the first one was innovation. Like Google, not that smart, but I track the law every week. I'm reading the state register, the federal register. I'm checking legal changes on industries that I represent. And I'm seeing different ways that they can change their business, change their policies, to gain advantage over their competitors, to make extra money.

Andrew Lieb (5m 27s):
That's the second way. The third way I said is a global pandemic. It's not just a pandemic. It could be a war. It could be trade issues. It's basically what we're talking about is how the global environment is occurring. How does it work for, do you ever hear that? We're all one. We're all one. You ever hear that like when people are like international business and international business, there's not borders. There might be borders between countries, but you ever hear of an export importer import export or their whole thing is how do you cross borders? That's their business.

Andrew Lieb (5m 58s):
So those are the three ways. And Lauren and I are spending a lot of time on this pandemic. Why? Because it's one of the ways that can affect your business. If you're paying attention to the executive orders that we're talking about, as we're talking about them, we're giving you a strategic advantage. So back to what I was saying, I promised you two weeks ago and we did it for two weeks. We're showing you how to invest because New York was slowing down on the pandemic. And I was thinking, this was the opportunity. Then I saw Florida getting big and Arizona, Texas.

Andrew Lieb (6m 28s):
I started freaking out. So I saw I tracked the conversation because I said, I don't know if it's the time, but New York seems to be doing good. New York seems to be doing good. So I want to go a little further into this and I want to talk to you and I'm actually gonna have Lauren talked to you about this because Lauren is the expert of getting our loans with the commercial loan process. But what we're going to do is I think we're going to be cool for us because I have a no seriously it's time to be cool. We have our friend Eric file from Dan's papers that he's ringing and on the line, I'm going to go get them on for us. And then after Eric, we're going to talk about how to get a commercial loan.

Andrew Lieb (7m 0s):
Here's our real estate investing.

2 (7m 2s):
Andrew Lieb presents Dan tastic Hamptons with Eric Feil.

Andrew Lieb (7m 8s):
So normally I start singing when Eric comes on, but this week is Dan's papers. Got me a little freaked out and I just gotta get right to it. Eric, it says something that I can go shark diving. And this is apparently a thing that people want to do. Like I am a surfer. I surf at West Hampton, bath and tennis. And I want you to know that sometimes I sit on my surfboard without my feet hanging over, just because I start getting OCD attacks about the sharks, going to bite my legs off. People want to go shark diving. Is that what you're telling me?

Eric Feil (7m 36s):
This is exactly what I'm telling you. So it's very funny. Many years ago in a prior life, I actually went shark diving sharks. The first time I ever went scuba diving with the people who were filming shark week, the dream and I went and it was down in The Bahamas and down 60 feet. And I will share what I see you. My friend, maybe I'll even put them up online photos with a shark on top of my head and sharp. No, no, no cage. I was young and bold and they told me it would be safe.

Eric Feil (8m 9s):
And I watched shark. We can, most of those people made it through. So I figured that was okay.

Andrew Lieb (8m 12s):
The opposite is me. Like I lived in long beach when shark week was a thing, like it was really starting up and I didn't go in the beach. I lived on the ocean, like in a building directly on the ocean. I didn't go on the beach for two years after I saw shark week. Like I was so I was so disturbed, like that show like re and I love the ocean, like assault life all day, every day, that show. So tell me more. You went free diving. Is that what they call it without a cage?

Eric Feil (8m 40s):
So I went, yes. I had scuba equipment on, we did two dives. One was down 30 feet. Another one was 60 feet and they chummed the water and they bring in all these Caribbean reef sharks. And they were testing to see if chain metal would react or not react with a shark bites. So I'm standing there and they stood me up in middle of this feeding frenzy. And the one piece of advice they gave me before I went down, was this and mind you I've never been down before scuba diving. They said, if a shark bumps you and knocks your mouthpiece out, don't panic.

Andrew Lieb (9m 15s):
Oh, Oh, I'm panicking for you. And this was years ago. So what you're telling me though, is that people in Dan's papers, they could go on and they could find out and they could go shark diving. What I like more is there was a, you could go for shipwrecks. That sounded safer to me. I was more into the ship rocks, but you have information about how people can see a freighters and barges and other boats under water. That was pretty cool too. And so that seems like the easy thing to do right now because you and I were talking before we went on there about the need for social distancing. I feel like I don't have to worry about Corona when I'm diving for sharks.

Eric Feil (9m 49s):
That's exactly right. If you are diving, swimming among a wreck, if you're snorkeling out there, you can either go by yourself. You can go with the group and you can all be very, very far apart. You get out there safely. You're safe out there in the water and the amazing amount of sea life we have off our coasts, the wreck dives that you mentioned, you can go down there and you can swim among youth. There's barges down there. You know, there's a ship that we've got torpedoed in 1945. That's down there. It's amazing what you can see just off of water. So that is a great, great thing to do. And with these temperatures at a billion degrees, where better to be than in the waters off the hand,

Andrew Lieb (10m 22s):
It's the best. And I'm going to tell you the other thing that people can do, because tonight, tonight at seven 30, there's Alec Baldwin, he's going to be, he's going to be in a show online that we can watch from my air conditioning. I like that, that I could stay home. If I go to Guild hall.org, there's this show, same time next year. You're telling me about

Eric Feil (10m 42s):
Absolutely. Right. So it's Alec Baldwin and Julian Moore. So two EastEnders, Oscar winners, Emmy winners. I mean, there are two of the most incredibly talented people we have out there and they are doing a virtual stage reading of same time next year with Gilt hall. That's exactly right. Sunday night. It's a perfect way to kind of kick the evening off. Relax, sit in the comfort air, conditioning your own home again and see this incredible performance. And Bob <inaudible> is the director of it.

Eric Feil (11m 12s):
So another East end or another great talent, Seinfeld, maybe one of my favorite characters ever. The three of them together. It's a brilliant, brilliant night. You don't want to miss that.

Andrew Lieb (11m 20s):
Well, Eric, thanks for sharing. Cool with us. We'll have you again next week to share some other great tips. Thanks for joining us for Dan tastic Hamptons real estate investing with Andrew Lieb. Wow. Lauren, that was nuts going shark swimming. And Oh, if you like listening to things like sharks swimming, you just got to go to rate this podcast forward slash leap and give a review. We're going to be right back after the break, telling you about the commercial loan process. Stay with us.

Andrew Lieb (11m 50s):
This is real estate investing with Andrew Lieb.

0 (11m 53s):
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