Don Dunbar on Foreclosures, First-Time Buyers, and Building a Lasting Career

Don Dunbar (00:00)
And I said that to say this. It’s not always about making money.

And a lot of real estate agents, young real estate agents get in this business thinking, I’m gonna make fast money. It’s not always about that. Sometimes you’ll do something for someone and you don’t make a dime and then they’ll come back and give you four five listings because you helped them on something that was insignificant in your mind, but it was very significant in their mind.

Scott Bursey (02:00)
Hi everyone and welcome to the Real Estate Pros Podcast. I’m your host Scott Bursey. In a day I’m joined by someone I’ve really been looking forward to chatting with. Don Dunbar who’s been making serious moves in the residential real estate space. Don is a veteran of Compass. He has 35 years of experience and a unique specialty in helping mortgage challenged buyers build a path to acquire the keys to that path.

He’s an expert in everything from foreclosures to first time buyer strategies. And he’s here to show us how the mission driven approach can build a bulletproof real estate career. Don, thanks for joining us.

Don Dunbar (02:39)
Hey there. Hey, thanks for having me. I appreciate it.

Scott Bursey (02:43)
I think our audience is really going to take something away from your perspective on the market cycles. Let’s dive in, should we?

Don Dunbar (02:50)
Yeah, please.

Scott Bursey (02:51)
Awesome, awesome. So first off, people that may not be familiar with your story, fill us in if you would, Don.

Don Dunbar (02:58)
I got into real estate.

In 1991, am of that I ran my own cleaning company. I did real well with that, but I enjoyed real estate a lot. I loved the negotiating factors of real estate. And I came to office and at the time my broker, Worthington, was mentoring me. I was little rough on the edges when it came to business and he…

made me sit down for three days and just work on the SOI for three straight days, that’s all I did. And then the third day, he said, okay, now I need you to call everybody on that list. And once you get caught, when you finish that, then you can go home. He said, now I get in here at nine o’clock, you need to meet, beat me here every day by eight thirty, eight o’clock, eight thirty. And that’s what I did. My third day, I got my first listing and I never looked back since.

And I still have those practices to this day. Yeah.

Scott Bursey (03:59)
That is remarkable.

Awesome. And Don, what markets are you operating in?

Don Dunbar (04:08)
Right now I’m in Northern California. I go by counties, it’s Alameda County, Contra Costa County, San Francisco County, and that is in San Francisco Bay Area, Oakland, Solano County. It’s within anything within an hour drive, I could actually do business. And that’s what I do, you know, basically. It’s pretty lucrative. It’s spread out.

but it’s pretty lucrative if you work, you hustle real hard, you can definitely make money in it.

Scott Bursey (05:30)
Love it. What caught my attention about you was the way you’ve been able to remain a steady hand in one of the most volatile real estate markets in the world. That’s not easy, Don, especially in today’s climate.

Don Dunbar (05:41)
It, no,

no it is not. It is not. I remember years ago, I worked for Better Homes Realty that had a television show and they showed all these wonderful houses. So I convinced Lynn could I do commercial for the show, but we’re gonna go just the opposite. And I…

I did all the trashy houses that I could find and get to sellers to allow me to do it. And we did that and it was actually one of the first television commercials that I had that was extremely successful. And I never realized that it turned me into the fixer raggedy house king of the Bay Area. And we shot the video and got a bunch of accolades, got a lot of business from it. And now I’m pivoting.

to a higher end property, multi-unit properties, but I still get those type of businesses, say. But yeah, that was the thing because there’s a lot of business in the Bay Area, but one of the things you have to do is you have to be disciplined. Like I said before, you have to get up early and work and actually work your schedule versus just getting in. I call

Real estate offices, adult daycare centers, because everybody in there complaining about what’s not working. And there’s everything that will work. And that’s how I’ve always started, out of the box.

Scott Bursey (07:18)
I couldn’t agree more, Don. And right there, that work ethic is a winning recipe. Now, every operator I know has a moment where things got real or maybe a deal went sideways or a time that you had to pivot fast. Do you mind sharing one of those moments with us?

Don Dunbar (07:38)
Yeah, I

I deal with lot of foreclosures. And one of the things that recently, they don’t talk about it a lot, but there’s a lot of people that are losing their home. And I see a lot of situations where individuals, when you talk to them about the house, they figure they have it mapped out. And most of the time they don’t.

a lady, I never forget, ⁓ she had a nice house in a very prestigious area and she didn’t think the bank would take her house. And she called me the day the sheriff came to what could she do? And it was nothing I could do for her. And I actually backed away from dealing with foreclosures at that time because of how I wanted to help her in the beginning and I couldn’t help her.

So I pivot from that to start doing first time home buyers because I just felt bad about this lady. It was an elderly lady and she had a wonderful home and she had to walk away from it. And it took me at least three, four months to even want to consider talking to people with foreclosures again. And I always remember this woman to this very day what happened with her and her. She had a wonderful.

Spanish Mediterranean home, one of the most prestigious areas in Oakland, the Frufua area, they have like a block, circular block of these homes and she lost it because she didn’t want to listen to actually what was taking place. She didn’t believe at that time that ⁓ they would put her out of her property, you know. So that was my moment.

Scott Bursey (09:35)
Done.

That absolutely. And, you know, I have found it incredible how the moments that feel like a disaster in real time often have a, a way of becoming the foundation of your success over the next 20, 30 years in your case.

Don Dunbar (10:32)
Right. Yeah. I it was funny because we ran a company and that’s all we did was buy houses from foreclosures at the time houses in the Bay Area was selling for like one hundred and fifty thousand and we could pick them up for like seventy five thousand. And I found myself in the same situation where I purchased a house from the company and the guy just wasn’t as honest as he should have been.

and I ended up having to move my family. It was a wonderful home. And I had to, again, I was the one being told, hey, you know, I paid his money and the guy said, well, he didn’t pay us. So now you gotta go. I’m like, what are you talking about? And I ended up losing the property. But I learned from that, that there’s no shortcuts in real estate. You know, you have to put the true work in and you have to always just stay focused on the paperwork.

and stay focused on what’s really going on, you know, so. And for me, I was in that same woman’s position.

Scott Bursey (11:36)
And done.

Yes. And honestly, that right there is the filter. It’s what weeds the dabblers and defines investors who actually have the staying power to weather the cycles. And once again, in your case, to weather it for decades. You’re going on your 40th year, are you not?

Don Dunbar (11:53)
Yeah.

Meh.

It’d be 35 years of May 29th, 35 or 36 year of May 29th. I actually stopped counting and I had to go back and say, how long I’ve been doing this? you know, I’m a part of the realtors. I’m the president of the local organization. We do a lot of networking events, a lot of events and stuff and helping other realtors sustain themselves in the business. And a lot of them.

call me like the OG so they come and talk to me all the time about what can they do, how to buy properties and that kind of stuff. There’s no shortcut to this business. have to know it or don’t know it. you don’t, I have a client, you know, that always tells me about buying property or buying land and stuff. And we, I was talking to him today and he was like, just stick with the land. Just stick with the land. It’s easier that way, you know, but.

A lot of times people don’t understand that. Everybody want to get into the flip business because they watch A.S.G. Whatever that show is, I watch it too but it’s not what it says on TV. Little bit different.

Scott Bursey (13:10)
Real life

is different, absolutely. Let me ask you this. What are you most focused on solving or scaling next?

Don Dunbar (13:15)
Yeah. Yes, sir.

⁓ Right now I’m looking more into land development in areas where there’s possibility of growth. ⁓ I went to college for real estate. I just didn’t take my exams, so I understand growth very well. I’ve done it in several different markets, so now I’m looking at this one particular area. I purchased a property in this particular area. I plan to buy more up there, going through the development stage.

negotiating with the architects and negotiating with the surveyors, talking to city planning. I’ve built a few houses over my years, but now I’m focusing just on that. And it’s like all or nothing. It’s like I’m going to the dice table and I’m putting it all on the table to make this thing work. And that’s how you have to be. If you believe in something enough and know that it happens, then you have to

put up or shut up, and that’s what I’ve done. Put up and shutting up to move forward and to do what I have planned. And it’s not easy, man. You know, I thought I was gonna buy property across the states. That went well for a second, and the weather changed my mind. I’m more of a sunny California guy. I can’t be on the East Coast of Midwest with the snow and snow. I can’t do it. But other than that, know, it’s just staying focused on that.

Scott Bursey (14:43)
Ha

Don Dunbar (14:46)
land development mostly.

Scott Bursey (15:29)
And that next move that you were alluding to, that’s huge. You know, it’s where the leverage lives. can either perfect your operations or it can detonate your workflow depending on the strategy that you deploy.

Don Dunbar (15:36)
Yeah.

You

The thing with it is putting together the right team and just focusing on that. know, like the architect, I’ve known this guy since junior high school. And it’s a true story. And he was a nerdy kind of guy. I wasn’t a nerdy kind of guy, but, they used to bully him. So what I did was I became his friend and let everybody know, don’t mess with this guy. This is my friend.

leave him alone, and he became very successful in architect. And when I called him, he remembered that. And he said, man, you always helped me when I needed it. He was a small guy. wasn’t a big guy like he is now. And when I called him and said, hey, I need your help, he said, man, I’m going to help you. And he said, I’m helping you because what you did a long time ago.

And I said that to say this. It’s not always about making money.

And a lot of real estate agents, young real estate agents get in this business thinking, I’m gonna make fast money. It’s not always about that. Sometimes you’ll do something for someone and you don’t make a dime and then they’ll come back and give you four five listings because you helped them on something that was insignificant in your mind, but it was very significant in their mind.

Scott Bursey (17:11)
Absolutely, it’s all about the relationships in this business.

Don Dunbar (17:16)
Yeah.

Scott Bursey (17:18)
and interested to know this. How do you… go ahead.

Don Dunbar (17:19)
I am.

My uncle was very strategic in training me at early age. He didn’t hold anything back. was much, I’m 6’1″, but he was much bigger than me. And he was in the real estate, land development, that kind of stuff. And he taught me a lot of stuff. I didn’t like it. I didn’t really enjoy sitting down with him every Friday, but he taught me a lot. And what made me happy about this, you have to love what you do.

in order to do it, even when it’s bad. Even when everything is messed up, you have to love it because that’s what’s gonna take you through whatever it is you’re going through.

Scott Bursey (18:05)
Absolutely, the passion, the love for your industry. Absolutely. And let me ask you this, Don. How do you maintain your edge when things are going well? know, when you have things going smoothly like they are for you now. It’s easy to grind, you know, when you’re broke, but…

Don Dunbar (18:11)
Yeah.

Well…

Yeah, you had them days, brother. What I do is, you may not see, but she’s sitting to the right of me and she kind of keeps me level-headed. One, I exercise every day. I read my Bible every day and pray every day. And then she makes me take time off, like today. When we get done with this, real estate is over.

Today I got it. I promise I was gonna do something with her today and and she’s gonna hold me to it I’m not gonna get any rest until I do it. So and she really did last three years of my rebranding ⁓ She has a consulting company we starting and she’s I’m the first client and so, you know, she’s helping me Structure it in a way where I could be successful and so far in the last three years

It’s actually working. It is actually working. And I was against it at first, you know, but you have to have someone that’s in your life that’s not willing to share with you the good, bad and the ugly. And if you are so big, you know, where you can’t accept the criticism and you’re going to mess up. you know, I had a meeting yesterday and she sat in on the meeting and she was like, okay, that’s enough.

And she, nobody can hear her, nobody can see her like now, but she’s over here to the right, you know, and she’s not saying anything now, but trust me, she’s like, okay, that’s enough, you did enough, and it’s time to stop this. You got enough listings, you’re doing your thing, just take it easy so you can get your mind together on the next step, so, and that’s how it works for me. You know, it really works for me like that.

Scott Bursey (20:15)
Awesome. I’m pleased that you have that foundation, that method where you can be grounded if you need it. That’s awesome. All right, Don, before we wrap, if someone wanted to reach out, you know, connect with you, maybe collaborate or learn more about what you’re doing right now. What’s the best way for them to reach you?

Don Dunbar (20:21)
Yeah.

Right.

yeah.

I have

one is my website. It’s

Don Dunbar (20:41)
www.dondunbar.com. I just finished setting it up, rebranding it three days ago. My other way is ⁓ through my email, [email protected] and then call me direct. I answer my phone and everybody, even with spam calls, I answer them. 510-472-3861.

For the new real estate agents, I have an e-book. I’ll give it to you. All they got to do is email me and I’ll send it a show step by step how I built my business and how I sustained it six figures consistently for I can’t even look back and remember, but I’ve been able to take care of myself ever since. it just the disciplines of staying focused, staying grounded.

and not allowing things to happen while you give up. And that’s how I do it. And that’s what they can do. They can call me anytime, email me anytime, answer all my emails, answer all my calls. I just stay in touch. can text me as well and I’ll get back to it. Just like with you guys. Contacting you guys, so it’s cool.

Scott Bursey (21:57)
Awesome, awesome. listen, Don, I appreciate your time and your story and your perspective. This has been more than a pleasure. Thank you for being on. We need more people like Don in this space. He’s doing it the right way. And thanks again for being here, Don.

Don Dunbar (22:04)
I appreciate you.

Thank you.

Thank you, Scott.

Scott Bursey (22:19)
And for those of you tuning in, if you got value from this, make sure you’re subscribed. We have more conversations coming up with operators just like Don, who are out there building real businesses. We’ll see you at the next episode, everybody.