One Thousand Gurus Podcast

#7: Jessica Lee - Career Changes, Real Estate Advice, and Developing People Skills

• J.R. Yonocruz • Season 1 • Episode 7

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What if exploring different career paths could lead you to discover your true passion? Join us for an engaging conversation with Jessica Lee, a dynamic realtor in Los Angeles and Orange County. We reminisce about our college days at UCI, where Jessica and I met through dancing, and delve into her multifaceted career journey. From studying Business Economics to exploring HR and tech sales, Jessica's path to real estate is filled with valuable lessons and pivotal moments. Listen as she shares insights from her year teaching English in South Korea and backpacking around Asia, which ultimately led her to a career in real estate where her growth-minded attitude thrives.

Thinking about buying your first home or investing in real estate for the long haul? Jessica breaks down the essential steps for first-time homebuyers, from consulting knowledgeable realtors to understanding financial commitments. Learn about the critical components of building wealth through real estate and strategies for long-term success, including the importance of local expertise and financial freedom. Jessica's journey is a testament to her passion, perseverance, and continuous pursuit of growth, making this episode a must-listen for anyone navigating their career path or interested in real estate.

Guest Bio:

Jessica is an accomplished realtor serving the Los Angeles and Orange County areas. Born and raised in the Greater Los Angeles area, Jessica has always had a passion for people, which led her to helping people find their dream homes. After receiving her B.A. in Business Economics at UC Irvine, Jessica worked in human resources and tech sales where she developed exceptional skills in communication, negotiation, and problem-solving. After purchasing her first investment property, she became a licensed realtor. Jessica has honed her skills as a real estate professional in the past four years serving real estate buyers, sellers, and investors. With a keen eye for detail and a deep understanding of the local housing market, she seamlessly guides her clients through every step of the buying or selling process. Jessica is service-oriented by nature and prides herself in her results-driven work ethic and dedication to client relationships. She is commonly described by her clients as attentive, eager to help, and going above and beyond.

Socials/Links:
IG: @jessicalee.re
Linkedin: https://www.linkedin.com/in/jessicalee-re/

Episode Links / Resources:

One Thousand Gurus Podcast:
Everyone has a compelling story to tell with insights we can all be inspired by. J.R. Yonocruz is a self-improvement blogger, relationship coach, and serial hobbyist with a passion for learning. He interviews unique guests from various fields to distill the strategies, habits, and mindsets we can use in our own lives. Each “guru” has a chance to give the audience a peek into a new world.

www.onethousandgurus.com
Instagram: @OneThousandGurus
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YouTube: One Thousand Gurus Podcast
Email: onethousandgurus@gmail.com

J.R.:

Hello everyone and welcome to another episode of 1000 Gurus. Today's guest is a friend of mine, Jessica so Jessica is an accomplished realtor serving Los Angeles and Orange County areas.

J.R.:

She was born and raised in the greater LA area and she's always had a passion for people, which led her to helping people find their dream homes.

J.R.:

After receiving her BA in business economics at UCI, jessica worked in human resources and tech sales, where she developed exceptional skills in communication, negotiation and problem solving.

J.R.:

So Jess and I go way back like almost 15 years, exactly back to our first year in college at UCI, where we danced together for a bit for a bit, and so we cover a lot of topics in this episode, ranging from her teaching in South Korea after she graduated for about a year, backpacking around Asia and then coming home to kind of figure out her career path, and she ultimately stumbled into real estate because she's kind of like a growth-minded person and was looking for something that could satisfy that passion of hers. And we cover a lot of Jessica's best insights with real estate and advice on how to think about real estate if you want to get into it, and then we kind of finish off with the discussion on people skills, how to handle difficult clients and then what it takes to be a good realtor. So, overall, a very fun conversation and it was good to, you know, reconnect with an old time friend. So, without further ado, hope you enjoyed this episode with Jessica Lee. All right, welcome to the show, jessica.

Jessica:

Thank you so much for having me. I didn't know I was supposed to. Sorry, I was not prepared. It's all good, all right. Anyways, welcome to the show. Thank you so much for having me.

J.R.:

Yeah, thank you for being here. So I wanted to say you definitely were on my short list for season one because, as I mentioned before we started recording, I wanted to get like a good slice of people from different career fields, and you're one of the handful of people I know who are in real estate. We also have done other things as well that we'll talk about, but also you might not know this, but you are actually, like from season one, one of the longest friends that I've had.

J.R.:

We go the most back oh like everyone else is like five, six, seven years, like we go back 15 years. Oh my God.

Jessica:

You're aging me, I know.

J.R.:

Stop. We're both the same age as of what Casa Danza like September, october, yeah, so pretty much 15 years, 2009. So we are so young, oh wow, we are so young yeah so thank you for being here.

J.R.:

I appreciate it. So I wanted to start off with like how I know you and go through also a little bit of like you're stalking your LinkedIn just to make sure I have everything. So, yeah, we met at UCI, where we both went during our first year. We did Casa Dance, off right, and then we also danced on a team called Irmo, which they're still around, which is awesome too and then we danced on separate comp teams so obviously we're both dancers. And then, after graduating, you worked as a business manager for a couple of years and then you went into HR for the next like two, three years and then if I'm not getting any of this wrong, near the end of 2020, you got into real estate. How is that All right so far?

Jessica:

Yeah, yeah, yeah, nice Cool, exactly.

J.R.:

Successfully stocked. And then also, like I mentioned before you were on, you're recently on the podcast Asian Boss Girl, which was amazing. I listened to it at the gym, it was great. Thank you, that was fun A lot of good real estate advice, as we'll get into as well. Is there anything else that we should know about you going in Any other, like interest, hobbies or just career stuff that we're going to miss, otherwise I can go straight into it?

Jessica:

I think probably straight into it. I'm full laser focus on real estate.

J.R.:

Yeah, you're like, let's go.

Jessica:

Yeah.

J.R.:

So, anyways, I wanted to start off with, like, your career path. So just from the beginning, right, so we're both studying UCI, we're both dancing, so how did you? I don't know, like how fast or how broad or how quick you want to go through this, but what was your career path Like when you went into college? What did you want to do, like when you were going into your third and fourth year? What did you want to do, like when you were going into your third and fourth year.

Jessica:

What did you want to what did you?

J.R.:

business econ. Yeah, wow, good memory. Yeah, good memory. Slash, I totally did not look that up. But business econ, like what did you imagine doing?

Jessica:

And then what was like the next few years after that? I went into college undecided.

J.R.:

Same actually. I think I remember that we're both undecided.

Jessica:

Yeah. And then I chose BusyCon because I was like this is very general and I can get it done pretty quickly. So I don't think at that time, when I chose my major, I was like, oh, I have a definite job in mind. And I think, even as I was graduating, I was more just like a I'm willing to try anything, but I never had the driving force pulling me to any specific career path. Actually, right after I graduated, I was like I just want to travel.

Jessica:

So I went to Korea for a year and I was teaching English there like public elementary school. So I taught grades three through six. Wow, yeah, and that was really fun, because I don't speak Korean, I'm not Korean, and it was just like a completely new experience for me. And that's like fun, because I don't speak Korean, I'm not Korean. And it was just like a completely new experience for me. And that's like my philosophy too. It's just always just don't be afraid to try something new. And then, yeah, after I came back from Korea, I backpacked for a few months too in Southeast Asia. And then I came back and that's when I jumped into you said, business manager, it was like a retail shop. Okay yeah, business manager.

J.R.:

It was like a retail shop, okay, yeah, kind of role, yeah, yeah, and then hr and then real estate. So when you were okay, let's backpedal. So you were teaching in career for a year, did you? I'm assuming you learned korean, or was it like you're just focused on english and just got by?

Jessica:

I just got by, so I never actually took any korean language classes while I was there. There were so many expats there so it was like very easy to make friends that spoke English and it's just like comfortable. But I also met my husband there.

J.R.:

And yeah, was he also teaching abroad or what was he?

Jessica:

No, he was stationed in Korea with the US military Gotcha, yeah, so he spoke Korean, which made it too easy for me. And you know what I wish I had studied yeah so I can understand a lot more than I can speak, but I can get by.

J.R.:

I won't die, yeah honestly, I think probably a lot more than me, because so I recently went to korea and japan, like a couple weeks ago, um, just to. So I studied abroad in korea. I don't know if you remember that, but, like um, it was between second and third year for the summer, so it was only three months okay and so, and obviously I've been in like a ton of korean clubs, and then I learned korean, but it's not like I can really speak it.

J.R.:

I can obviously read it. I'm like I don't know what this says, like sitara bucks, oh, starbucks, okay, yeah that's pretty much me.

Jessica:

Yeah, exactly, it's like reading, it's super easy but, then like actually learning it.

J.R.:

But yeah, it was like it was an interesting experience going back because I hadn't been back in 12 years, something like that, but it's like the same. It doesn't feel like it's changed a lot. Obviously it's more modernized, but I don't know. It was really nice to be back. I want to ask what your experience was like and then like maybe some highlights, but I don't know if you want to take that away. What was your experience like teaching?

Jessica:

I don't have a teaching background. All All it really took to get that job was like I had to get this specific certification, go through a few interview rounds, and then they actually prefer people that don't speak Korean so that their students could have a full immersive experience where if they wanted to talk to me, they would have to speak English, because then I wouldn't understand anything.

J.R.:

Yeah, exactly, Literally. I don't know what you're saying.

Jessica:

Yeah, so try because I have no idea. Yeah, so that was really interesting and teaching elementary school was actually fun. There are so many smart kids it's just, oh man, I feel so bad for them because they have such high pressure and stress levels even in elementary school. Yeah, so that was really interesting to see, but overall, a really good experience I think it was.

J.R.:

Oh, actually, one interesting thing is they have nap rooms, oh yeah, and that's for students.

Jessica:

And and faculty, faculty, oh, faculty, only for faculty, yeah, that's cool, so after lunch, I go, take a quick nap and then get back to work yeah yeah, they need that here. Nice, yeah, I would second that.

J.R.:

So was it like you were committed to just the one year and after that you were going to backpack and come back, or what was the kind of vision going into that, or was it? I don't know if there's anything else.

Jessica:

Yeah, for me I was just like I want to travel. What's? What's a way I can travel while still making some money and just experiencing something new. And so for me it was like a short-term thing, um, and that was a perfect amount of time really, like one year and then a few months backpacking. That kind of scratched my itch before. I was like, okay, now I have to go back to the real world yeah, like work.

J.R.:

Yeah what, where did you backpack?

Jessica:

I did Vietnam, thailand, cambodia, okay, yeah, but then while I was living in Korea too, like I, it's so easy and cheap to travel within Asian countries, so, like we went to, the. Philippines. Where else did we go?

J.R.:

to Taiwan nice, that's so you said for a few months. Okay, cool, okay. So then you backpack and it seems like that was a great experience. So then you come back to the states and then now could you like walk us through what your career path or journey was like at that point?

Jessica:

yeah, honestly, it's difficult getting into like your dream job after college and you just went to mess around for a year is what employers probably think right, so it is pretty difficult. Um, I just fell into retail. I had a friend that was working there and she's oh, why don't you just like temporarily get a job here while you continue searching? And I'm like, okay, yeah, that's perfect and that was actually a great experience. It was really fun. Um met a lot of great friends and really learned how to interact with all sorts of people in retail nice yes, we'll definitely get back to all that interaction stuff.

J.R.:

So then, how did you make the jump into HR, like as a career?

Jessica:

While I was in retail, I was like okay, I love working with people.

Jessica:

I like helping people. What is the role that I can? I don't know what is an ideal role for me. And it definitely took a lot of thinking and I also took some classes HR specific classes because I was like maybe I should do HR. So I took some thinking and I also took some classes HR specific classes because I was like maybe I should do HR. So I took some classes and I was like, okay, I can see myself doing this. And, yeah, I just started applying. I think I was in retail for like maybe a year and a half, maybe I don't remember. You know my LinkedIn better than me.

J.R.:

Yeah, apparently it was like a couple years. Was it a couple years a?

Jessica:

couple.

J.R.:

Yeah, okay, maybe a couple years like a span six months, eight months a year, or something like that.

Jessica:

Oh, because I moved location. Yeah.

J.R.:

So I just bunched it like a couple years.

Jessica:

Okay, yeah, because I was like a manager for a specific brand and I started in Newport and then I moved to Century City. Yeah, so that was probably what it was.

J.R.:

But yeah, so I started applying to HR jobs and, yeah, did that for a couple of years as well, nice, so I guess one of the takeaways that I'm thinking or I'm seeing is you went into college, left college and you were teaching and traveling and then you came back and you work in retail. But at that point it's like you were still trying to figure out and do some sort of self-awareness reflection on, hey, what do I think I'd be good at? And then okay, so maybe let's try this HR stuff. So then how did that go? You were there, you're doing HR for two, three years, something like that something like that.

Jessica:

I also switched like a couple of companies because I'm personally always looking for growth and so I was always either looking for like experience, a higher position, higher salary, whatever it. And HR was not what I expected. So I, yeah. So what I thought was like oh, I get to help people, I get to do this, I get to give people opportunities, hire people, blah, blah, blah. But in reality I think a lot of people see HR as the police. They don't actually want to talk to you.

Jessica:

where I'm like I want to talk to, yeah you're like, I'm here to help you, yeah and they're like no, I don't want to talk to you, like I can't reveal too many things about me in my life because then you're gonna find something and police me on it, which that's not at all like how I am. Although I do think a lot of employees like saw that I wasn't that type of HR person, there's still a level of I'm gonna keep this wall up because I can't completely trust you. So that was pretty eye-opening and I was like okay, this is not what I had in mind. And yeah, that was one of the factors why I continued to look for my next step. Yeah, gotcha so then?

J.R.:

so you were there for, or you were doing, hr for a few years, so then did you generally enjoy it and or what were some like the biggest challenges? I know you said that it wasn't what you expected and people felt like guarded around you. But, I guess I'm sure there are people who are like interested in that as well. Are there any I don't know insights or tips you can give them of what it's like or what they should be prepared for, aside from what you already mentioned?

Jessica:

Yeah, If you're going into HR like wanting to make BFFs, don't do it.

J.R.:

Trying to make friends, maybe not.

Jessica:

Yeah, definitely not the position. If you want to make friends, however, I think HR is like needed in every company. It's very stable, and if that's what you're looking for, then go for it. But for me, I was like I want to be able to connect with people and that is not at all what it was. So actually, I went from internal HR to like an external HR consultant position, which helped because I was then guiding like small to medium-sized business owners on how to navigate their HR issues internally and I wouldn't be the one to be doing it for them. I'm just like this is how you approach it consulting, yeah, and letting them know about the laws, how they need to or could protect themselves or how to minimize risk. Really, okay.

J.R.:

Yeah, as a consultant, an HR sort of consultant what were some of the biggest issues that you were consulting on? I know you're talking about risk and other things like that.

Jessica:

Yeah, there were some of the basic things like pay time, off time and a half, whatever those kind of very basic things. But then the things that were a little more interesting to me were like the employee relations type things and how to navigate that, because at the end of the day you're trying to mitigate any potential lawsuits. That's like the. That makes sense, that's the biggest thing for companies, especially if you're a small to midsize company, because that was like my client base Laws losses can make or break your business and yeah.

J.R.:

So navigating those relationships, Okay, so it's like best practices on how not to get sued, or get out of business because of something like that yeah, gotcha Cool. Okay, so then can you, I guess, maybe a slight pivot. So then, how did real estate? How did that enter your mind as like a career field option?

Jessica:

Yeah, my whole time in the corporate world, I was, like I said, always looking for growth, always looking for the next step and how I can improve myself, whether it's position, salary, whatever it was and I'm someone that will put 150% into my work always and the growth wasn't fast enough for me, and so I was feeling a little I don't know glass ceiling, even though I wasn't like super high up in any of these companies. I just felt like I can do so much more, and so I was like you know what, like I don't, I can't see myself working in a corporate environment for the rest of my life. I'll be extremely unhappy. So I um, actually started listening to this podcast bigger pockets, like a real estate podcast, yeah, and I was like, okay, I can totally find a way to retire from purchasing real estate. If I just invest wisely and have enough passive income, then I don't have to be in this job for the rest of my life.

Jessica:

And that freedom is really what was and is still driving me today is I actually invested in my first out-of-state investment property and then from there I was like already in this rabbit hole of oh my god, like this is actually really fun. I find it so interesting and I was like maybe I'll just get my license and see where it takes me. And right around that time is when COVID hit too. And so I was working probably like 12 hours a day every day for that company and I was like I'm burnt out, like I can't do this.

J.R.:

Like 12 hours Okay.

Jessica:

So by that time they had transitioned me to this role to help them sell their product, because they're like. We think you'd be able to sell this really well, even though your background is in HR.

J.R.:

And.

Jessica:

I was like, okay, like I said, I'm always open to trying things and trying new things. Um, so I was working a lot and, yeah, I was like I don't, I can't do this. Yeah, real estate.

J.R.:

Yeah, that's cool. How did you find that podcast? You mentioned what was it called? Again, bigger pockets. Yeah, how did you come across that?

Jessica:

I think I just stumbled upon it somehow, I think I heard my friend listening to it one day and I was like oh, what is that?

J.R.:

Yeah, yeah, Okay. So then you it started off with you having your first investment property and then you studied to get your license Gotcha. So what was the process of getting your license? Like I've, I've looked into a real estate license as well and I vaguely know what goes into it, but could you walk us through that?

Jessica:

Yeah, wow, it was almost four years ago, so let me see. If I remember, I think it's three courses that you have to take, and then each of those has a test that you have to pass before moving on to the next thing. There's a specific number of hours that you need to complete with each course and then, after you do all that, then you take like the one big licensing exam, which happens in person. And yeah, it's actually a pretty low barrier to entry in my opinion.

J.R.:

Okay, gotcha. So how long did that whole process take? So you were taking these courses online and then in-person test? Yes, so how long was that like from start to finish?

Jessica:

I want to. So I did it in the shortest amount of time possible and I think for me it took about four months. Four months, yeah, four to five months. At that time it was really hard to get a test date Because it was COVID.

J.R.:

Oh gotcha, yeah, was the test hard, or how would you gauge it?

Jessica:

It was interesting. It's nothing that I use today on a day-to-day basis for my actual role. Yeah, it's like school where yeah, it's just Okay, sorry.

J.R.:

What kind of questions are they testing you on then? It's just like regulations. Honestly, I can't even remember. You're like. I don't even know. I just studied, I did it.

Jessica:

I don't even know, and the way that they phrase each question is so tricky too. Okay.

J.R.:

Yeah, couldn't tell you interesting. It reminds me of I've worked with a lot of lawyers over the years and they're saying, like obviously the bar does not prepare you to be a lawyer, but it's just to test how you think, but then all the skills that you need you learn as you go, depending on the field that you're in. So I'm like, okay, that makes sense. Like you can't just practice being a lawyer like out the gate? People usually work at a firm and learn how that industry runs right and then, and then they do it. But then like the whole LSATs and like the bar exam like doesn't really prepare them for practicing law. So I imagine maybe a lot of sort of tests like that are similar.

Jessica:

Yeah, yeah, I think so Because really I don't use a thing. I don't remember anything from the test, but I will say barrier to entry is very low, but being active in the industry is very difficult yeah.

J.R.:

Okay, perfect segue. So now we can go into real estate and, like I mentioned, the episode you did on Asian Boss Girl was fantastic. Lots of really good tips, especially for like new home buyers that you mentioned. So we don't have to rehash too much of that. I'll link it in the show notes for this episode. But from a high level overview standpoint, one of my first questions I wanted to ask was like what is something that people should know if they're interested in buying a home as a new homeowner, like a buyer let's say someone like myself, right, interested in buying a home what are some of the first considerations that you would give them as pieces of advice before they start to dig in?

Jessica:

Yeah, I think the first thing to consider is just are you financially ready, like your financial preparedness, and I'm not saying, oh, you have to save 20% down, it's just having the knowledge on what you actually need, because that's not what you need. You can go as low as 3% down right, but it just is so personal to everyone's own scenario or situation. Every scenario is different. So I think step one is always just consult with the realtor honestly, because they will help you put together your timeline and put together like your goals or next steps and get you to the process, through the process of then finally buying your first home.

J.R.:

Okay, that makes sense, like consulting with someone who knows what they're talking about. So I do that, probably not surprisingly. I've worked with Jessica for going through my own real estate process last year, so it was very insightful and helpful. And let me outline okay what's the steps in the process like going, like finding a lender, scoping out places Like we looked at a couple of places when I was looking around, like from new builds, old builds, stuff like that and then also like figuring out what my goals are and how financially ready that I felt, like I was. So I think, just from personal experience, that consulting with Jessica was very helpful. So I think that's a good step. And I think you mentioned on that podcast too, which was like consulting with lenders to see like how much you can afford, because I'm sure people would be on Zillow and be like, oh, this is a great house and oh, like I think I can afford this.

Jessica:

But I think you mentioned I never think, yeah, it's better to do the homework up front and your realtor will have their trusted lenders who can also walk you through the process, walk you through the numbers and, honestly, I always tell my first time buyers what's most important to you is what are you comfortable with in terms of your monthly payment? Because a lot of people just think, oh, purchase price, yeah, a million dollar home, I can do that, but you don't know what that breaks down to, right? So, yeah, talk to your realtor, talk to your lender.

J.R.:

One of the other things that was not surprising to me but going through this process is like how overwhelming like the numbers can be. Obviously these are like X amount of figures, like houses, right, like anywhere from California right At least, like 500K upwards of a million plus and whatnot, and when you go to the breakdown, like the mortgage and PMI or like other insurance or other costs, like it can be all really overwhelming. I don't know. Do you have any advice or insights on that, like when it comes down to a breakdown of numbers?

Jessica:

I think you just have to be clear on what's what right. Your one monthly payment usually will encompass PITI, which is principal interest taxes, insurance Taxes, yeah.

J.R.:

Taxes, overwhelming HOAs oh my gosh. Yes.

Jessica:

And then, yeah, hoa or any special assessments or anything like that, and just being really clear, like what am I paying for? And in terms of it being overwhelming, I think it stems from, like the education right, like just know your numbers. But what I will say is that let's say, your monthly is like $5,000 a month and you're like, oh my gosh, I cannot pay $5,000 a month. Most of my clients will feel a little nervous, but once they get in the motion of actually paying $5,000 a month, they're like, okay, you know what. Like now I have actually learned to budget and I'm actually comfortable with it. Now Some people are like you know what, maybe I could have gotten like a more expensive house, because I'm so used to this now I could have gotten a little more right. So I think it can be daunting, but it's just a matter of getting used to it budgeting.

J.R.:

Yeah, it's like any sort of financial strategies. You got to know your numbers and do the breakdown of what makes sense for you and like what you value. I know in real estate it's at least for me when I was considering it's. Obviously location is. You said it's one like the most important thing. Since you can't really move your house, I guess you could. No, really you can always renovate it, but sometimes, like for me, going in and seeing the house is like a big deal for me, because if I'm not the type of person who is like wants to renovate or jump in and do that, then it could be like okay, okay, maybe I just want the house to look good enough at least, or a new build and obviously price too, right, that's a big consideration because it's okay, good spot and it looks good, but it's expensive, but you can look at a lower range, but then it might not be in the best location yeah, absolutely, location is the most important.

Jessica:

You can't change it, you can't move your house. You really you can't. These are all things that we discuss in like a buyer consultation. Right, let's say you're like I don't really want to renovate anything, I just want to turnkey property. Turnkey is just like you turn the key and then you're in, yeah, and then maybe you're in a certain price point. Then your realtor will be able to tell you, probably off the top of their head Are you being realistic? Maybe you're realistic in this city or that city, but maybe not in this city, right, yeah, all of those are considerations that a lot of people won't have all of it figured out upfront. Right, you have to slowly build and make your way there and as you see properties in person too, you're gonna like preferences will change too. So real estate is a very fluid process, and that's what I always tell people like things change, don't be super attached to one specific thing. If you change your mind, you change your mind. No biggie, right, right?

J.R.:

Yeah, makes sense. So one of the last few questions on this topic is so when is the right time to buy? So I know we talked about, okay, knowing your numbers. Let's say you think you're ready or you're around the range to be ready, but then people are like the market right or interest rates, things like that, or I think is it recently you probably know this like there's been the feds like cut interest rates of like by half a point or something yeah, no, there's something new.

Jessica:

Yeah, so I will say it's nearly impossible to time the market. What? What? Oh my gosh, you know what? If could, I'd be like a billionaire. So same like stock market.

Jessica:

Right, there's no perfect way to time it. I think you go for it when you feel financially ready and real estate is a long-term game, right, if you want the true value and wealth building through real estate, you're holding these properties long term In California properties, they're not going to really go down in value, maybe with some significant crazy event, but long term, like, you're really not losing value. That's what I'll say about like real estate and real estate investment and the appreciation there. But, yeah, there's really no way to time it because let's say, okay, so rates did drop, right, so 50 basis points, let's say every 1% drop in rates is an additional 1 million buyers in the market. So you're either choosing more competition or higher rates. What do you prefer? It's a personal preference. I would rather personally go with higher rates than refinance later, personally. But some people they're priced out with high rates. They can't even that's not an option. So then we wait for the rates to drop and then we start hunting. But it's impossible to time the market.

J.R.:

Good tip. That makes a lot of sense too. So it's like when you're ready, just keep your eye out and look around, know your numbers, but it's impossible to time the market and pick your poison, sort of thing.

Jessica:

Yeah, yeah, yeah, pick your poison Nice.

J.R.:

We love real estate and poison. Last question on this topic is so what's next for you in real estate? I know that you service like SoCal, like California or just mostly LA OC.

Jessica:

Cal like California or just mostly LA OC. My license is for all of. California, I've actually sold homes in NorCal before, but only for close personal friends. I wouldn't say I'm an expert in those areas. Yeah, so I'll say Orange County, la and IE as well.

J.R.:

Yeah, so what's? What are your like long-term 10 year goals or time frame for you in real estate? I know you mentioned it's a long term game and I'm assuming you want to be filthy rich and have that freedom that you mentioned.

Jessica:

Yeah.

J.R.:

What are your like long term goals?

Jessica:

Yeah, so I think they've changed a bit. So from when I was in like corporate, I was like I want to retire by the time I'm 40. But now that I have a job that I love, I'm not no longer I need to retire by 40. I want freedom now. I think I just enjoy servicing and working with my clients so much I could be in real estate forever. I hope to not be driving around showing homes when I'm 70, but I'm definitely investing still and building my wealth that way. So 10 year plan I don't know, maybe I have a family or something, but either way, my financial goals are always to build up passive income, grow my investments and just make sure that I never have to worry about money.

J.R.:

Yeah, yeah, it's the freedom thing right? Yeah, I think about, I think similarly. Where it's, I think it's normal People will be like okay, I want to get to a certain age and then retire, which, to them, of course, means I don't have to work anymore. But my thought process, which is similar to yours, is that I wouldn't mind working for forever if I'm doing the things that I enjoy, because you're adding value, you're like growing something and you're growing as a person, and like monies could be one factor indicator of that quote-unquote success. But it's like, why would you stop doing the things you enjoy, but chasing that freedom where it's okay, we have financial freedom so we can do whatever we want or stop and not have to do like the grunt work or whatever.

J.R.:

I think that's a really good goal because you can still. You can change your mind and be like I actually want to do this now, but at least I have the option to do that. Yeah, a hundred percent. So it's not like okay, now I get to retire and do what I want. Do you want? Do what you want now, but also find work that you enjoy Real estate.

Jessica:

Everyone do real estate.

J.R.:

It's not for everyone, it's not topic, which is we've been talking about people skills and then even it seems like the thread is that you've wanted to work with people and then eventually you wanted freedom and then financial freedom, and then you found yourself in real estate and you seem to really enjoy it.

J.R.:

I think one of the skill sets that I think cross a lot of different industries or career fields is people skills. The skill sets that I think cross a lot of different industries or career fields is people skills. It's like one of those things that where I believe AI can take over different jobs, technical jobs but like the people skills part of the people side of things, you can't really outsource that to someone overseas or AI or something like that. Like you do need to develop those skills because it's like the computer can't really do that, and I've always been fascinated with sales, people skills, influence and things like that, again, also as a people person and non-technical person. So I guess one maybe you already answered this, but you consider yourself a people person what kind of skills did you need to develop in order to be successful in HR or real estate? Maybe we can just start there.

Jessica:

Yeah, I definitely consider myself a people person. Everyone who knows me would say I'm extroverted. Yeah, I definitely consider myself a people person. Everyone who knows me would say I'm extroverted. Oh okay, yeah, not to say I don't need some down time alone time but for the most part I'm like out and about all the time.

Jessica:

You like thrive around people? Yeah, yeah, I really do. And so, in terms of people skill development, I think I've always liked being around people, ever since I was young. I can't say I've like strategically tried to develop some sort of skill, but definitely dancing on teams helped a lot, right, because when you're on a team, you're still dealing with all sorts of people, even though these people are super different from you or can be super different from you.

J.R.:

you all have the same goal right.

Jessica:

So it's really learning teamwork and then in retail and HR, it's learning how to work with different people with different goals, different motivations, and really being able to decipher what are their motivations. If, like, an employee is like going crazy, wait, why are they doing this? What is the deeper meaning, like deeper level, as to this, whatever they may be doing right? So I don't know, I think it's just been a natural progression in my life, but, yeah, I've always been a people person.

J.R.:

Yeah, Would you say that there are any specific mindsets or strategies that you go into when you are encountering, let's say, a difficult client or coworker or anything on that spectrum Like, how would you approach those situations?

Jessica:

I think generally approaching everyone with grace and not judgment is going to help everyone, right? You don't know what they're going through. You don't know their situation. You don't know if they just got in a fight with someone or if their child just went ballistic on them. You really don't know what everyone's personal situation is. I think for me it's just I don't know. I try to stay more lighthearted If I can tell someone is having a difficult time. I don't know. I usually use humor to get. I don't know. I, like I usually use humor to get. I don't know the tension out of the air.

J.R.:

Like a social lubricant. Just be lighthearted and fun. Yeah.

Jessica:

But in professional scenarios, if a client is frustrated, I'm doing everything I can in that moment to solve the issue right. Whatever it is, I'm bending over backwards and yeah.

J.R.:

What on that topic, maybe for people who want to develop those skills, okay, so I know it's been natural for you and you think of empathy, compassion, putting yourself in their shoes. What do you think are some good characteristics for a good realtor Like traits, personality, types, characteristics?

Jessica:

Oh, you have to be very adaptable and you have to be very self-motivated, and if you're lazy, you will not succeed.

J.R.:

You don't get to eat.

Jessica:

Yeah, you don't get to eat. You don't get paid unless you sell a house. Really you don't get to eat. Yeah, when I said it was like a very low barrier to entry, I'll say everyone and their mom has their real estate license. Gotcha, there's people that want to do it like part time. That's like very difficult because if you're not putting your full focus into it like it's a full-time job, if you don't have your pulse on the market, you're falling behind. If you don't have like good lenders, good vendors, you're falling behind. And yeah, I will say in our current world, everyone wants like efficiency. Right, if you're not fast, if you're working another job or something and you're trying to do real estate and you don't respond to your client in an efficient manner, like you're fired. So I work all the time. You have to be like okay and able to work all the time.

J.R.:

Yeah, so it's basically like you are self-employed, right. Yeah, you're in business, you're a business time yeah. So it's basically like you're.

Jessica:

You are self-employed. Right yeah, your own business. You're a business owner Yep.

J.R.:

The episode I have with Ronnie where he gets a when I'm not worrying about my business or, sorry, when I'm not working on my business. I'm worrying about my business. Yes.

Jessica:

A hundred percent.

J.R.:

Oh, that's great Awesome.

Jessica:

It's so funny. A lot of us realtors say like when we're busy we're stressed, but when we're not busy we're anxious. Yeah, yeah, it's not for the faint of heart, it's like a roller coaster ride.

J.R.:

But to your point as well. It's also that ceiling is higher, or there's more. There's no ceiling, exactly, there's like higher growth potential, but then it's wholly dependent on your effort. But also you can't do anything part time.

Jessica:

Yeah, it is what you put into it. One hundred percent. If you-ass, you will get a half-ass result.

J.R.:

Yeah, Anything else, like on… Okay, piece of advice. So you said being adaptable, anything else for people who are interested in real estate? Any other last like tips, tricks, mindsets, habits.

Jessica:

I will say not necessarily tips, but if you want to do real estate and you are first starting, it's not like a job. There's no one training you and telling you this is what you do or this is how you need to do it to be successful, you're on your own, literally on your own. Don't expect like a three-month training program, it's a. You have your license now. Okay, just Go.

J.R.:

Yeah, yeah, I was about to ask that. Okay, you just you answered my question. So there's no real program, you just do. So where do you learn how to do real estate?

Jessica:

Yeah, Honestly, when I first started I was on YouTube a lot. I would try to ask people around my office, but in real estate, technically they're your competition.

J.R.:

Oh, I see.

Jessica:

They have no reason to help you. Yeah, because you might be taking a piece of their pie Navigating those relationships too. It's very important to build a strong network of agents that, even though you each have your own business and you each want a piece of the pie, if you have a good group that has your back, like that's very important too.

J.R.:

Ok that makes sense, Because so you work in an office like in a firm, but then you have your coworkers are technically your competition.

Jessica:

Yeah, every realtor has to be part of brokerage, okay, and then in the brokerage there are some like teams where they like are an actual team and they work together. I'll say most agents are solo and everyone is like their own business owner. Like we're not employees, right, we're just hanging our license with the brokerage. The brokerage is there to support you. However, you don't get, unless you like find a mentor like you're not like automatically assigned someone who teaches you the ropes, like that doesn't really exist.

J.R.:

So here's a desk, now just go.

Jessica:

Yeah, and I started during COVID, so there is no office, so I just worked from home. And when I first started I was like oh my God, what do I do? So I just cold called for like hours every single day, and that's how I started my business, gotcha.

J.R.:

Yeah, okay, I have one last question. What does it mean?

Jessica:

to know an area. There are realtors that are hyper-focused in like one, let's say maybe one city, and they will know every single house that's on the market that just sold. They'll know all the internet. So I can learn everything I want to learn about a city now just with a quick search. But I will say the realtors that truly have like their we call it a farm, their farm area. They really know absolutely everything. They know every business owner there. They know, like all the neighbors. They know every home. They know. Oh, that neighbor is going to sell in the next two years. That that's what I would define as like really knowing an area. Gotcha, yeah.

J.R.:

Do you feel like it's necessary to have that level of knowledge in specific areas, or is it like a broader area Like you know enough?

Jessica:

or I will say if you're working mostly with buyers, they're going to be all over the place. So, like for my business, I work with a lot of buyers and I know I have a very like wide breadth of knowledge in SoCal. I will say if I wanted to work more listings like sellers, only then I would focus on a farm.

J.R.:

Oh, I see, yeah, okay. So if you're more of like working with sellers who are listing, then it would be better to know that area a little bit more yeah, for sure.

Jessica:

For example, my farm would probably, in terms of like listings, be like walnut dime bar, because I grew up in that area. Right, I know it like the back of my hand. I know every street, every market, business, and that's where I would focus for, like, my personal local knowledge area. But because I work with buyers, like everywhere, I still need to know about, like every other location.

J.R.:

Because not everyone's going to want to buy in like a diamond bar Exactly, exactly. Okay, cool, all right, let's, if you're. If anything else on real estate, before we pivot to rapid fire questions. I don't think so. Okay, cool, all right, let's, if you're. If anything else on real estate, before we pivot to rapid fire questions.

Jessica:

I don't think so Okay.

J.R.:

Yeah, we can always come back to it too. Yeah, first question is the billboard question. I don't know if you've seen this, but the question is if you could put a sign up for millions of people to see what would it say. Could be a word, yeah, basically like a message you want to give across get across to people, a lot of people.

Jessica:

I was like I put my face for as a realtor on a billboard. That was the first thing that came to mind, but it's valid. Oh, I don't know. I will say re-advertising yeah.

J.R.:

re-advertising yeah.

Jessica:

Re-advertising. Honestly, it'd probably just be like invest in real estate to build wealth yeah.

J.R.:

Yeah, that's fair and you believe it.

Jessica:

Oh, absolutely.

J.R.:

Drinking the Kool-Aid, so you might as well. What is your favorite failure or something challenging that you learned the most from? My favorite failure, something that you might consider a failure, but it set you up for later success.

Jessica:

I always felt since I started real estate, I'm like I really wish I started real estate earlier. Actually, like people when I was growing up, like my mom told me, like you should be a realtor, and then a couple of other people have told me in the past you should do real estate. And I was always like, no, I don't, I want more stability. I want, I don't want to have to worry about my paycheck. And now I'm like I should have just started earlier. But I do think that all of my different like career job choices that I've gone through have set me up for success now, because I wouldn't have had the skills I did like when I started real estate if I didn't go through all that Although sometimes I'm like dang, like what a waste of these years. It really wasn't, it really wasn't. I don't think I would be experiencing the success that I am now if I had not gone through everything that I did.

J.R.:

Definitely, what do you think made them say that you should go into real estate?

Jessica:

I have no idea, because at that time I was like why would I do real estate? I don't want to do real estate.

J.R.:

Do you think it was like they saw that you were a very people person and maybe that you were like ambitious because you wanted to grow, or was it just maybe, maybe.

Jessica:

It probably wasn't coincidentally, so maybe those things, but they were right.

J.R.:

They predicted my future.

Jessica:

They were right. I should have listened earlier.

J.R.:

It's funny because growing up I had the same thing, but for being a lawyer Before. Like, my aunts and uncles were like you should be a lawyer because you like arguing a lot. I'm like just because you're always wrong doesn't mean I should be a lawyer.

Jessica:

You should be a lawyer.

J.R.:

So yeah, I studied poli-s, sci. I was going on the lawyer path and then I worked at law firms and then I like met attorneys and they're like, unless you absolutely love it and are willing to drop the three years and the money and all the blood, sweat and tears, don't do it. And I was like, okay, I don't think I love it, so I think I'm not going to do it. That and three times the level of, like stress related illnesses or something like that. I'm like I don't want stress related illnesses.

Jessica:

Yeah, but you know, you never know, because, who knows, maybe when you're like 50 and then you're like bored of your current job, you're like, you know what. I should just do it.

J.R.:

I wouldn't take it off the table. I think it was just like okay, I don't think that bar of doing all of that to be an attorney is worth it. Yet Let me just figure out what I want to do and figure out what my actual goals are. But I see what they're saying. I'm like okay, I can still take elements of that.

Jessica:

I see you as a lawyer in the future 10 years You're going to remember this conversation. It's manifested now. You will be a lawyer in 10 years.

J.R.:

Okay, if I'm filthy rich and I have so much time and I can just study, I'm like sure, why not?

Jessica:

Yeah, you can do, go for fun. Yeah, argue for fun.

J.R.:

Yeah, why not? Yeah, Honestly, the attorneys that I work with. They are also my style too. I just like, I don't know. I don't like the idea of being in that much debt for something.

Jessica:

Gotcha, we'll see, exactly Like I said if.

J.R.:

I'm rich. There's nothing that I'll take off the table, Because I will have freedom at that point. Redo something. What would you do differently? I know you mentioned maybe real estate sooner, but other than that, Biggest regret.

Jessica:

Honestly, I try to live my life without regrets. I think I'm a pretty lighthearted person. I'm not someone to dwell on something, because if something negative happens I tend to just be like okay, that happened, what can I take from it? All right, let's move on. I'm not really one to live with regret. I feel like most people wouldn't. Just after college, bye for a year. I like to live life to the fullest, so I can't say that I have any.

J.R.:

If you could give your younger self advice? Similar sort of question, but what would that advice be at any age?

Jessica:

I would probably say you don't need to stress too much about the career thing. What's going to happen is going to happen. It's meant to be. It's going to be Like it's fine, Take your time.

J.R.:

That's also, coincidentally, the same advice I give to a lot of the college students that I dance with now which is don't worry so much. They're all very like how do you say very high achieving UCLA students typically, and they're always worried about their school, their grades, their career. Ucla students typically, and it's they're always worried about their school, their grades, their career, and I'm like it'll work out.

Jessica:

if you're worrying, you're just suffering twice, it's a yeah, yeah, anyways, but it's hard, though, like when you're in that mode.

J.R.:

I need to focus and society. My parents are telling me to get good grades and get a good job and make money. I get that. It's. I think that's the same thing I would tell myself too is don't work, because I was in the same boat Like I graduated. I'm like I don't know what I'm doing, but then you'll figure it out eventually, just having that faith. But it's hard to kind of see that looking forward.

Jessica:

It is Looking back, it's easier, right? Yeah, it is. You know what? 30s is the new, 20s, like 40s, is the, of course, of course.

J.R.:

Always super young. Are there any habits or routines that are key to getting like the results that you have now?

Jessica:

Are there any things?

J.R.:

that like maybe not keep you sane, but any sort of habits or routines?

Jessica:

I will say that, like I work so much, it's pretty difficult to turn off, and so my guilty pleasure is watching Asian dramas, because that's my one time where I'm like so obsessed with these like characters for what like 15-16 episodes that I can actually not think about work. It's not in my routine, but when I have a chance to just be horizontal for a day and watch dramas, that is the best feeling.

J.R.:

Yeah, yeah. So it's your method of like decompressing from all of that, yeah, for sure, real quick. Do you have any recommendations for dramas?

Jessica:

oh, I think top of my list is still crash landing on you because oh yeah shunmin is so fine you like re-watch it, or I think I've watched it like twice okay yeah, but just most recommended yeah, like when I think of something that a lot of people would enjoy, probably that, um, but I've watched so many dramas in my life, I don't know.

J.R.:

I don't know, there's too many yeah, okay, we'll stick with that one. Yeah, um, so who would you call successful and how would you define success?

Jessica:

I would probably define success as someone with the freedom to do what they want and not have to worry about financials and, along with that, have like people they love, that they can share it with. I think happiness is probably like the best way I can put or how I can define success, and I think you need to be well-rounded and have people you love and share it with in order to be successful and happy.

J.R.:

Anyone that comes to mind that you think personify like your definition of success Celebrities past, present, future, I don't know.

Jessica:

I'm not like huge on pop culture and following celebrities because I don't like to what I don't. What I think I do is I don't compare myself, so I think that alleviates a lot of stress. I know people that do compare themselves a lot and they're just like constantly stressed, so I think that alleviates a lot of stress. I know people that do compare themselves a lot and they're just like constantly stressed.

Jessica:

So I think that's one thing that I actually do. I don't compare myself, so I don't really follow a lot of celebrities. That's not my thing, but I think I think, like my in-laws come to mind, they're like so, so in love still and happy, and like they have a great family, like I'm so lucky to be part of the family now, but, yeah, they're both retired now, they're enjoying life and they have kids who love them and they love each other and it's yeah, it's really nice nice, I love that.

J.R.:

That's based on that, that definition, I think they seem really successful yeah, I was gonna say, oh yeah. On that note of unhappiness, yeah, I think it's like the fastest way to be unhappy is just start comparing yourself, right, yeah, what's the point?

Jessica:

like you're just gonna make yourself miserable that happens a lot in real estate too. Um, because you'll see, like people around you maybe like selling lots of houses and maybe you're like pretty dry for a month and like you, people just get in this mode where they're it's hard to get out of, too right, they just eat themselves up. I'm like it's fine, it's cyclical, it's gonna come, don't worry just like questioning their self-worth.

Jessica:

Yeah, I don't know what I'm doing, like I said it's like either stress because you're busy or anxiety because you're not. Yeah, makes sense okay.

J.R.:

So if time and money weren't an obstacle, what would you be doing now?

Jessica:

probably traveling. Okay, yeah, I think that's an easy one for me.

J.R.:

Where would you go?

Jessica:

So I've traveled a lot of Asia I would say most of Asia and I'm like slowly getting my feet wet in Europe. But I feel like I can save Europe for when I'm older and still enjoy it. But I feel like Asia is like super fun when you're young. So, yeah, I would probably still be romping around there.

J.R.:

Any countries come to mind.

Jessica:

Korea and Taiwan are always the top, because I'm Taiwanese and then I lived in Korea, my husband's Korean, so we always try to go to Korea and Taiwan at least every other year or so, but I don't know, I think, really anywhere. I love exploring new places.

J.R.:

Okay, so just anywhere, anywhere, anywhere, really anywhere. I love exploring new places, okay, so just anywhere, anywhere, anywhere, really anywhere. How do you spend most of your time Working?

Jessica:

For sure.

J.R.:

Yeah, when you're not working, aside from dramas, anything else that you do, any other hobbies or activities?

Jessica:

I've been slowly picking up golf. I'm very bad. Yeah, I have no hand-eye coordination. No, actually you know what? I have hand-eye coordination, but any like racket sports… Like if I have to… If I have an extension of my arm… Like a tennis racket… Like pickleball paddle thing… Like golf club… I'm so horrible it's like very unnatural for me, so it's very hard, but it's fun, and my husband has gotten into golf recently too, so we try to go together.

J.R.:

Is it like the full golf course or like a range, or both Both, okay? Yeah, I know a lot of people or at least recently, ranges were like… Are all like the… Not the fad. I've seen a lot of people doing ranges because it seems fun, and then also pickleball, of course.

Jessica:

Yeah, yeah, do you do pickleball.

J.R.:

The extension is only a little oh my gosh, I can't.

Jessica:

I went one time and I could not hit the ball. I was like, at least golf is like a stationary yeah.

J.R.:

I've always been intrigued with pickleball, so maybe one day, yeah, all right. Last rapid fire question Favorite books, movies, videos, articles or resources that you share or recommend the most.

Jessica:

I will say the first real estate book I ever read was Rich Dad, poor Dad and that's what kind of that, and like Bigger Pockets propelled me into the rabbit hole of real estate. But yeah, so that book and that podcast, if it's like real estate specific and then other books, I don't know. I have like horrible memory so I read books and I forget them so I have to reread them again, but that's the one that sticks out, gotcha that's a solid one.

J.R.:

I have book summary website so I purposefully write out all my notes so that I can remember it better and then I just post it online and people find value and they donate to my site. So it's cool because it pays for itself the website. But it's more of a journal, like, okay, I'm trying to remember all this stuff.

Jessica:

So let me just write it down. It's so much.

J.R.:

Yeah, so I've yet to review Rich Dad, poor Dad, but I have another book from Robert Kiyosaki I forgot which one. It was Cool. All right, we can go into ending questions, so I like to end with gratitude, jessica. What are you grateful for?

Jessica:

I am grateful for my community, because real estate would be impossible without my community. Everyone is so supportive and they either ask me questions or use me as their realtor or refer their friends to me. I will say that's number one. And then actually I have a tie for number one my husband. He's so supportive, he really encouraged me to get my license and usually when you do start real estate you're prepared to not make any money for at least six months. And he was so gracious. He's like you know what? That's fine, I got you, Don't worry about it. And that's before we were married.

J.R.:

Yeah.

Jessica:

I was like… that's awesome. Yeah, I was like, wow, I found a very special man.

J.R.:

Yeah.

Jessica:

Yeah, yeah, he's the best.

J.R.:

Nice. Yeah, he could be considered part of your community, right?

Jessica:

Sure yeah.

J.R.:

But he gets an extra special shout out. Yeah, Perfect. Any final ask or takeaway? Sorry?

Jessica:

ask from the audience and or takeaways that you want them to take from this conversation To the audience. Probably don't be afraid of change or trying new things. You never know what's going to come, and if ever you're feeling stuck or unhappy, do something about it. I feel like a lot of people don't and they stay stuck in their rut and the only way to get out is try something new.

J.R.:

And also, if you're interested in real estate, reach out to Jessica.

Jessica:

That too, yes, of course.

J.R.:

I highly recommend her, obviously, by definition, the first realtor I have on the show. Thank you, cool. So where can we find you? Social media handles, websites, emails, anything you want to share.

Jessica:

Yeah, best way is probably Instagram. Jessica Lee dot R-E. Lee is L-E and yeah, you know what A lot of people actually find me through there and send me DMs.

J.R.:

And that's how we start our our real estate journey together. Yeah, perfect, yeah, and I'll link that in the show notes. To like your Instagram as well. Awesome, cool. Thank you so much, jessica, for being here. I really appreciate it. I learned a lot personally, so hopefully the audience feels the same way, yay.

Jessica:

Thanks for having me?

J.R.:

Yeah, of course, and so for the audience. Thank you guys for tuning in. Thanks for enjoying the show. Hopefully you guys learned a lot, and just a reminder to be kind to others as well as yourself, especially, and also that there's always something that you can learn from someone else. You just got to take the time to listen. So thank you guys for tuning in.

People on this episode

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J.R. Yonocruz

Host
Contributor

Jessica Lee

Guest