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Show Summary
In this episode of the Investor Fuel Podcast, Host Leo Wehdeking speaks with Gwen Lion, a real estate professional in Las Vegas, who specializes in helping renters transition into homebuyers. Gwen shares her insights on the unique Las Vegas market, the importance of building relationships, and the challenges of navigating market uncertainty. She emphasizes the need for mentorship in the real estate industry and discusses her approach to educating clients about the benefits of homeownership.
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Investor Fuel Show Transcript:
Gwen Lion (00:00)
I feel like we need to teach people how to fish for themselves, how to build their own wealth renting to me is like putting money in a slot machine, and owning is like putting money in a piggy bank. And I just feel like it’s a mystery.They don’t know what to do.So I just remove all of that fear and the unknown.Leo Wehdeking (01:53)
Hey everyone, welcome to the Investor Fuel Podcast. I’m your host Leo Wehdeking and today I am joined by someone I’ve been looking forward to chatting with Gwen Lion who’s been making serious moves in the real estate industry when glad to have you hereGwen Lion (02:11)
⁓ I’m grateful. Thank you for having me. This is exciting.Leo Wehdeking (02:16)
Thank you. Thank you for being here, Gwen. Gwen, think our listeners are really going to take something away from how you’ve been approaching ⁓ your real estate business and the way that you are able to make renters to transform renters into buyers. So let’s dive in. All right. And first of all, for people who may not be familiar with your world, can you give us the short version on what’s your main focus these days?Gwen Lion (02:47)
So I’m in Las Vegas and a lot of people that live in Las Vegas, and especially even in my own experience, they plan on being here for a year or two, maybe. And then they think I’m going to go to Cali or I’m going to go somewhere else. This is just a little jump. And what ends up happening is people love it here. It’s warm, it’s sunny, 360 days of the year.It’s very affordable. There’s fun things to do everywhere. If you’re an outdoorsy person like myself, there’s hiking and biking and rivers and lakes that you can do. I do paddle boarding. So there’s just a million things to do and you just get very comfortable here. And before you know it, it’s five years and then it’s 10 years and then it’s 15 years and you’re going, I’m still renting. shoot. I never thought I was going to be here this long.
So I just hear it all the time from people and they’re like, I’ve literally been renting 10 years or 15 years. And it’s a very reoccurring theme in Vegas. Everybody here is a transplant from somewhere else. So I kind of got into the business of just helping people learn renting versus buying. And then I did it myself and now I’ve helped hundreds and hundreds of people do it.
It’s very fulfilling. feel like I’m building my own community and being a part of it, so.
Leo Wehdeking (04:14)
right that’s cool that’s cool and Gwen in what markets are you operating in?Gwen Lion (04:19)
Yeah, so Las Vegas Metropolitan is, it’s pretty small to be honest. ⁓ It’s Las Vegas, Henderson, a lot of people have heard of Henderson, and North Las Vegas. That’s kind of our large metropolitan area. I also do a little bit of work like in Reno, in Pahrump, and some of the outer lying areas, but Las Vegas itself is a little tiny town.compared to where I came from. So I came from the Washington DC area and I wanted to get away from the traffic and the hustle bustle and the one hour commute. I was like, get me out of here. So when I got to Vegas, it was like an oasis. I was like 10 minutes to get somewhere, unheard of.
Leo Wehdeking (04:59)
YeahYeah, I know, I know, I feel you. I’m from Florida and over here ⁓ traffic can be a little bit stressful. You stay bumper to bumper like more than 45 minutes until you move. So, yeah, I understand. I understand what you’re saying. Gwen, something that really caught my attention, it’s ⁓ the way that you’ve been able to introduce all of your people skills. OK.
How driven you are how determined you are into? The business that you’re operating okay. It’s not easy to transform a rental a renter to a buyer so can you please give us more specifics on how you’re able to convince someone that you are renting a property to end up buying it
Gwen Lion (06:49)
Yeah,I feel like there’s been this like gatekeeping that happens in wealth with not letting people inside. And it’s kind of an insider secret. And it’s kind of this like we’re only going to let people in that we want to let in. And I was a teacher and I just do not understand that concept.
I feel like we need to teach people how to fish for themselves, how to build their own wealth
and
I don’t think people necessarily understand that owning a piece of property is like having a nest egg. To me, I live in Las Vegas, so
renting to me is like putting money in a slot machine, and owning is like putting money in a piggy bank. And I just feel like it’s a mystery.
People think, my parents didn’t own, I’ve rented my whole life, or I am not really comfortable. I just don’t know what to do.
They don’t know what to do.
So I just remove the mystery and it’s very simple. It’s really no different at the end of the day, renting versus buying, but I just feel like people don’t know that.
So I just remove all of that fear and the unknown.
Leo Wehdeking (07:59)
Alright, alright, that’s actually not an easy task what you’re doing because once a person is used to pay rent It’s difficult for them to change them, you know the whole Idea for them. It gets a little bit complicated, especially in this climate ⁓ Gwen let me ask you something what’s been your the recipe all right to keepyour business running smoothly like the way that you do.
Gwen Lion (08:32)
Yeah, I think I consider myself to be like a farmer. I’m planting a seed, planting a seed, planting a seed, and I have never looked at my business as like a one and done. It is a relationship that I build and it is a teaching that I do over time. So I think that I’m always planting that seed from day one. If I’m showing you a rental, great.no problem, but I’m going to give you this little piece inside your brain of in a year from now or 10 months from now when you start thinking about am I going to renew my lease, I just want you to think, well, would I like to actually own the house that I’m renting or own a house like the one I’m renting? So I’m just always planting.
Leo Wehdeking (09:25)
Alright, alright, that’s actually cool.Gwen Lion (09:26)
Alright, alright.That’s guys calling pool.
Leo Wehdeking (09:29)
⁓ Now, Gwen, every operator I know has a moment where things got real. Maybe a business or a deal that went sideways or a time that you had to pivot real fast. Do you mind sharing one of those moments?Gwen Lion (09:45)
Absolutely. I would say the whole last half of last year was that moment because there was so much uncertainty in the market that I think everyone was waiting and thinking, okay, what’s going to happen? That was an election year. Obviously things, you know, get crazy. And so everyone that I was in contact with last year in the last half of the year canceled.So
It was deal after deal after deal after deal, just people saying, I’m not ready. I want to wait. I want to see what happens. And I had to pivot. You just have to pivot and you have to say, okay, this particular path that I’m on is not going to get me where I need to be. I need to change. It’s kind of like getting stuck in a traffic jam. I can stay on this road and sit here not moving, looking at tail lights.
Leo Wehdeking (11:12)
youGwen Lion (11:14)
Or I could get off on this exit and try to take a back road.Leo Wehdeking (11:18)
Yeah, yeah, that’s right. That’s right. And honestly, for me, know, people like you and taking action is what separates the folks who just dabble from the ones who stay in the game long term. Now, Gwen, let me ask you this. What are you most focused on solving or scaling next?Gwen Lion (11:39)
think that I have really focused on this line of work and this type of business. My goal is to bring up maybe another couple agents that I can teach what I’m doing. And what I’m doing is a little controversial because every brokerage that I worked for in the beginning said, do not want you to focus your time and waste your energy trying to help renters. It’s a waste of time.Everyone said focus on listings, get listings, get listings. Well, listings come and I’ve got, you know, 15, 20 listings right now, but when there are no buyers in the market, there are hundreds and thousands of listings sitting there, not going anywhere. yeah, I think that focusing on scaling my business, helping to teach other agents and continuing to do what I’m doing in just a more focused.
Leo Wehdeking (12:08)
Okay.Exactly.
Gwen Lion (12:38)
way.Leo Wehdeking (12:39)
Okay, all right. All right. All right. That’s big, know, especially when you have everything in place already, you know your business, you know What can’t came up what can’t what can’t come up? All right ⁓ with the rentals. All right now a lot of people I know that a lot of people listening are either early in their journey or maybe they’re just looking to level up All right, so I think that they will benefit from hearing something like this coming from youNow, when it comes about building relationships and growing your network, what’s made the biggest difference for you?
Gwen Lion (13:20)
It’s going to be a little cliche and probably people say this over and over again, but if you’re the biggest fish in the pond or in the room, you need to get in different rooms. So I just spent a week in Dallas with the top of the top of the top agents in the country. All across the country came. We all met in Dallas and it was fire. There was just energy. There was synergy.Leo Wehdeking (13:30)
Alright.Gwen Lion (13:46)
Everybody was so motivated and inspiring and it was just wonderful to network and to be, I felt like a small fish in a big pond and just honored and appreciated. I appreciated that I was there.Leo Wehdeking (14:02)
Alright, alright, yeah that’s something actually that is very important nowadays. I would say that building your network is pretty much like having good relationships with everyone. Not only in the real estate space but even in life. Like for me relationships, networking, it’s everything nowadays. It’s who you know, who you can knock the door to. Alright, now…Gwen before we wrap up if someone wanted to reach out to you connect with you all right or maybe collaborate or even learn about what you’re doing what’s the best way for them to reach you
Gwen Lion (15:25)
my Facebook, my YouTube, my Instagram, everything is Gwen Lion. So it’s very simple. ⁓ Facebook.com backslash Gwen Lion or TikTok.com backslash Gwen Lion. You can find me at any of those ⁓ on Instagram. I’m at Lioness Gwen. ⁓ But yeah, definitely anybody can DM me at any time and I will get back to you immediately. I’m always happy to help andencourage and give ideas and share ideas for how to get into it. My personal feeling is that real estate agents are a dime a dozen. It’s so easy to get into this industry and people get in and they get out. They think they’re going to get in and make a lot of money and they get right back out because they don’t have the right mentorship and they don’t have somebody that’s already cut their teeth and
made a way. I think having a good mentor is just invaluable. That’s honestly, that is the 100 % thing that has made the difference in my business is having that mentorship.
Leo Wehdeking (16:33)
Yeah, I totally agree with you. Well, perfect. ⁓ Listen, when I really appreciate your time, your story and your perspective. All right. We need more people in this space who are actually doing it the right way. Thanks again for being here on the show. And for those of you tuning in, if you got value from this, make sure you’re subscribed. All right. ⁓ We got more conversations coming with operators just like when who are out there doing real businesses. Until then, see you on the next episode.
