How to Adapt in Any Real Estate Market | Investor Tips & Strategies

Ronn (00:00)
never a bad time to get into the real estate market. There’s always deals available. So, but one thing I did learn is every location, every hometown, every state portion. Like for instance, let me give you an example. Here in Albuquerque, New Mexico, there’s a time to buy and a time to hold.

Kristen Knapp (00:04)
Mm-hmm.

Ronn (00:21)
But if you know that in advance, so what? You’re prepared for it. OK, like for instance, the best time to buy is

Kristen Knapp (00:27)
Right.

Ronn (00:30)
right after Easter and be prepared to sell it right before the end of August

Kristen Knapp (02:07)
back to the Real Estate Pros podcast. I’m Kristen and I’m here with Ronn Perea, who is a real estate investor. We’re going to get into his whole business and what he’s got going on. Thank you for being here, Ronn.

Ronn (02:17)
Thank

you for having me. How are you? Or should I say, esta chica? Or should I say, wunderbar madame? Merci.

Kristen Knapp (02:19)
Fabulous, look. I’m doing well, how are you doing?

Thank

Well that’s great for all of our international.

Ronn (02:29)
Anything, anything, you got to know

that of all the monies that I’ve ever made over 30 years as a real estate investor, I’ve always pumped them into my comedy club.

And then I started writing novels. And my last novel is about how I started the comedy club Road Company 40 years ago. That was long before you were born me. And taking it through the American Southwest through a road called, maybe you’ve heard of called Route 66.

Kristen Knapp (02:39)
nice.

you

Ronn (03:02)
and all the adventures along the way. Now I’m located in Albuquerque, New Mexico, and I took the show all the way through and around New Mexico, through and around Arizona, Grand Canyon, Vegas, and Southern California A, all the way to the Santa Monica Pier. And all the adventures and road adventures along the way. Well, I’m breaking your ear on this for a reason.

Kristen Knapp (03:03)
Yeah.

Mmm, nice.

Ronn (03:27)
The book has been adapted into a screenplay and now energies are underway to turn it into a movie.

And so soon you too will be getting your kicks on Route 66. If you don’t want to read the book.

Kristen Knapp (03:41)
Amazing. You have a lot going on. ⁓

Ronn (03:44)
But

it’s because of the successes I’ve had in real estate investment that I’ve been able to afford it all. And so what target would you like to visit on today?

Kristen Knapp (03:51)
Yeah.

Yeah, let’s talk about your real estate career. I mean, I think that that’s a good point that I think real estate investing allows people kind of the opportunity to have a fuller life and to chase other dreams.

Ronn (04:05)
Well, I started out, I didn’t know nothing about nothing in the real estate business 30 years ago. And I didn’t even know what a mortgage was. And then, Pop passed on. I inherited the house and I quickly learned about what a mortgage is.

And one thing leads to another, so I’m having to pay a mortgage. So I save money here, I save money there. I met a fellow who was a real estate broker, but on the side, he was an investor.

Kristen Knapp (05:26)
you

Ronn (05:26)
And

so I have to visit with him on this, on that, and the other. And next thing I know is he invites me in as a trainee to learn how to be a real estate investor. And so I learned quick. And so I started out learning how to work on houses and creative financing at first, such as lease purchases or

real estate contracts, stuff like that. And I became very good at it. It’s something like a surprise talent that you never knew you had. But once you do it, once you do it, you find that you’re good at it. And so lo and behold, I was starting to do quite a few lease purchases. At one time I had 17

Kristen Knapp (05:54)
Mm-hmm.

bright.

Ronn (06:12)
different lease purchases each month paying me. Isn’t that good? That’s pretty darn good. And then ⁓ it was during, that was all during President Clinton’s day. Do you remember him? You whippersnapper, you.

Kristen Knapp (06:18)
Pretty good.

Yes!

Ronn (06:26)
And then

a guy named George Bush Jr. kicked in. It radically turned the real estate market upside down. I’m not blaming him. You know why? Because then we get another president and the real estate market turns upside down again. We get another president, the real estate market turns upside down again. We get another president and I don’t want to talk about that one right now.

Kristen Knapp (06:51)
you

Ronn (06:51)
They have

a tendency of turning the market inside and out. And so one has to learn to adapt, but expect it.

And so ⁓ that forced me to learn other aspects of real estate investment. got in, get a hold of this. I acquired a apartment house. I went to the thing I learned quickly. I do not like being a landlord. ⁓ I despise being a landlord. And then also being responsible for fixing every little thing when somebody complains at three o’clock in the morning.

Kristen Knapp (07:14)
Right.

Ronn (07:22)
hell with that. So I quickly sold off that investment and I experimented with bare land. wow, what a mistake. You know why? Because I’m used to acquiring properties that I can turn around real quick and make a profit. Land, bare land, forget about.

Kristen Knapp (07:40)
Right.

Ronn (07:41)
You hold until you die so your kids can inherit it. That’s basically what it boils down to. Unless you get lucky in between and find somebody who wants to buy it, plan on holding it till the day you drop dead and so your kids can take over. So I’m not a fan of bare land. The only thing that was left was commercial property. And that’s where I commercially, that’s where I’m currently at.

⁓ investing in this and investing in that. But now I, if I’m going to hold a property, I want to convert it into something myself. And so now I’m working on converting a commercial piece of property, into a, ⁓ maybe my own cabaret nightclub. That’s what I’m up to. And so,

Kristen Knapp (08:04)
next.

very cool. That’s wonderful.

Ronn (09:01)
Thank you. So tell me hit me with questions.

Kristen Knapp (09:04)
Yeah, so you’ve kind of done a little bit of everything. I would love for you to talk about, you’ve seen so many changes in the real estate market and you talked about having resilience and having adaptability. I would love for you to talk a little bit more about that. Like, I think that a lot of people get nervous to enter the market when it’s quote unquote bad. What would be your perspective on just how to enter the market?

Ronn (09:05)
Yeah.

There’s

never a bad time to get into the real estate market. There’s always deals available. So, but one thing I did learn is every location, every hometown, every state portion. Like for instance, let me give you an example. Here in Albuquerque, New Mexico, there’s a time to buy and a time to hold.

Kristen Knapp (09:30)
Mm-hmm.

Ronn (09:47)
But if you know that in advance, so what? You’re prepared for it. OK, like for instance, the best time to buy is

Kristen Knapp (09:53)
Right.

Ronn (09:56)
right after Easter and be prepared to sell it right before the end of

What’s happening at the end of August? The end of August is back to school and people have bought a house by then.

Kristen Knapp (10:02)
Why is that the case?

Ronn (10:10)
And here in September, it is the New Mexico State Fair. Nobody buys during that because a lot of tourists are coming into town. People rather go party, party. And then right after the fair, oh God, it is, I don’t know if you’ve ever heard of the International Hot Air Balloon Fiestas, but more than a thousand hot air balloons come to town.

Kristen Knapp (10:30)
No. ⁓

Ronn (10:33)
from around the world, international hot air balloon fiestas. And that’ll happen all the way through mid October. Nobody buys themselves. And so people tell me, well, put your sign out. Maybe somebody will buy it. Most of the people that are here are from out of the country or out of the state. Nobody’s going to buy nothing, honey. And so

But I’ve noticed this is after years and years and years I’ve noticed the moment those balloons pack up and go away that phone rings off the hook and that continues that way until Thanksgiving. And so that is again the time to sell. You’ve got to prepare for these times of the markets and that exists in every market in the country. Now some markets unless

Kristen Knapp (11:17)
Mm.

Ronn (11:19)
in December. I don’t know about you, but do you do you know anybody who likes to buy and sell houses during Christmas? I don’t. Yes. And sometimes you do get lucky if you, you know, and I have gotten lucky in Christmas, had some very nice Christmas presents, but be honest with you,

Kristen Knapp (11:27)
Not particularly.

Ronn (11:38)
That’s how I set up the year. And then there’s January through March. I don’t know anybody who likes to houses when there’s snow on the ground.

Kristen Knapp (11:47)
Mm.

Ronn (11:47)
And

so that is the time of the season that you can and cannot. And so I just simply prepare for those seasons. And that’s how I’ve been able to survive 30 years.

Kristen Knapp (11:53)
Yeah.

Yeah, you gotta just know the market you’re in.

Ronn (12:00)
And that’s one of the first things I suggest. Anybody, anywhere, I don’t know if you’re in Poughkeepsie, Illinois, Bangor, Maine, or Honolulu, it doesn’t matter. You gotta know the market you’re in.

Kristen Knapp (12:03)
Yeah.

Right? Yeah, and each market has its own.

Ronn (12:11)
Hit me with some questions.

Kristen Knapp (12:13)
Yeah, each market has its own challenges for sure and it really is about having that education. I’m really interested at how you tried so many different aspects of real estate and I think it’s interesting how you kept going with it rather than deciding you didn’t like real estate. just, you you had the vision to say maybe I just don’t like that aspect. What would you say to people who are trying to figure out their niche in the real estate investing world?

Ronn (13:19)
Do what I did. I got under the armpit of a trainer, a real estate investor mentor. And from him, I learned all of the idiosyncrasies. And that is how I’m still here today is because I knew what to expect beforehand because I’ve been through it with a mentor. So no surprises.

Kristen Knapp (13:25)
and change.

Ronn (13:39)
Surprises can be the one element that can scare people off. Investors, you and you are going to some failures. You are. Just know that. So what? You just go on to the next one. Big deal.

Kristen Knapp (13:40)
Right.

you

Right?

Yeah. Can

you talk about one of those failures you’ve had in the past and what you’ve learned from it?

Ronn (13:57)
Why do you want to bring up bad memories?

Long story short is they happened when people fall short. That’s why I don’t like being a landlord because that is where the most negatives have seemed to occur is people not paying their rent or causing more grief than you want to deal with. And that is primarily what sticks in my mind. Being a landlord in commercial though is

very strong and viable because people don’t tend to move their businesses too often. Once they’re in a business, they stay put. So that’s good, reliable source of income. people that, especially if you’re in a college and you have college rentals or low rent neighborhoods, know, people, those are the problematic. Those are the ones I avoid.

Other people like them, not me.

Kristen Knapp (14:48)
Yeah.

Ronn (14:48)
So it’s just a matter of picking and

choosing.

Kristen Knapp (14:51)
Right, you choose your problems. There’s no part of the real estate investing world that has zero problems, right?

Ronn (14:57)
So what do you do in

investment?

Kristen Knapp (14:59)
So I’m with the investor fuel mastermind and I’m on kind of like the marketing side of it. But it’s so fun, I get to talk to people like you all day who are so knowledgeable about investing. I think that you have such great insight for people who are entering. What would you say to somebody who’s just starting out? Like what’s maybe a piece of information you wish you learned earlier?

Ronn (15:20)
Get under a mentor.

I started under a mentor. I could not have gotten any further without having a mentor overseeing my actions. And I was with a mentor for about five years before I dared go out on my own. And I was fortunate because I had a bona fide realtor broker as my mentor. But one thing I didn’t.

I don’t want to offend your listeners out there who are realtors, but I avoid realtors like the plague to this day. I’ll tell you why. Thank you for asking. Realtors are hungry people like every human that walks the earth. They are a cost factor, 6%.

Kristen Knapp (15:51)
Why is that?

you

Ronn (16:05)
that’s going to come out of your pocket before you get paid. When you are doing all the work,

If a realtor is a co-investor with you, if a realtor is putting some of their money out of their own pocket, oh, God bless you, I kiss her feet. But if all they’re doing is bringing a maybe buyer here or there in happenstance, one of them says yes, well, then you’ve to pay them 6%. Sometimes 6 % is the only spread in that deal. And so that’s my reasoning there.

I got nothing against realtors. Some realtors are my best buds. But I’m going to say something to you right now. Everybody that’s watching knows that you ma’am are a lovely lady, obviously. ⁓ But I got to say, the female realtors are some of the most beautiful women around. I got to say that.

Kristen Knapp (16:49)
Thank you.

Yeah?

Ronn (16:59)
I am a red-blooded dude,

what can I tell you?

Kristen Knapp (17:02)
When you were under your mentor and you decided to go off on your own, at what point did you feel ready to go off on your own?

Ronn (17:09)
Well, it was forced on me. I was never thinking about going on my own. Going on my own was never even an issue, but it was forced on me. My real estate broker was a nice little Catholic boy who married a Mormon gal and the Mormon gal wanted a family overnight. And so they had to move to Utah to get their kids overnight. I don’t know the procedure, but…

That was the reasoning. And so all of sudden I was left on my own. So I was forced to go out on my own. And that was the logic.

Kristen Knapp (17:42)
Yeah, I mean it’s a good push sometimes just to go out and do it.

Ronn (17:45)
But it was like

a blessing in disguise ⁓ that I didn’t realize at the time. And I had my first paycheck within a month after I left. And it’s been that way ever since.

Kristen Knapp (17:56)
Wow, yeah, it’ll keep you in the game for sure. So what’s next? I know that you’re excited about this cabaret venue. What’s next for you in your portfolio?

Ronn (17:59)
and ⁓

Remember you asked and I’m going to tell you. My latest novel is called How I Got My Kicks on Route 66. About my years taking the show through the American Southwest. Long before you were born, nobody even heard of a comedy club. And so I introduced the comedy club to throughout the Southwest. I tell people, hey,

Kristen Knapp (18:09)
Hahaha.

Ronn (18:30)
They would ask me what I did for a living. Hey, I’m a comedy club producer, you know, with pride. And they would say, oh, okay, what’s a comedy club? That’s when I started. And so I took it all the way. It was never done before. Well, so I wrote a novel about it. And you got to know this American because you’re an American, you have to know this fact.

Kristen Knapp (18:39)
you

⁓

Ronn (18:54)
On November 11th, 2026 will be the 100th anniversary of Roots 56. And as such, I’m trying to pitch this book to Hollywood to see if there’s somebody who’d like to turn it into a movie. After all, it is American. And in the process, I’ve talked to a lot of people from overseas.

Kristen Knapp (18:55)
Okay.

Wow.

Thank

Be them.

Ronn (19:19)
They all heard of Route 66. I talked to, get a hold of this, last weekend I talked to some folks, tourists from Ukraine. They heard of the Route 66. They got a war going over there against a Vladimir dude and they still heard of Route 66. Now you gotta tell me that has to be a movie. You know why has to be, you know why there has to be a movie? I’m gonna tell you why.

Kristen Knapp (19:38)
Right?

Ronn (19:41)
There’s drama. There’s tragedy. There’s Route 66 road adventures. There’s sex, sex, sex. But it’s all drowned out with smiles, giggles, and laughs. That’s how come and make a good movie.

Kristen Knapp (19:42)
Thank

you

I love that! Well, it sounds like you have a lot going on. You have a lot of different ventures that are really exciting. How can people find you?

Ronn (20:01)
Well, uh… There’s multiple… Do I give you my phone number? Do I give you my webpage? Do I give you my email? I don’t know. What do you want?

Kristen Knapp (20:08)
Yeah, give us your webpage for people to go to.

Ronn (20:11)
Where page is

one r o n n p e r e a?

dot com

Kristen Knapp (20:17)
Amazing, simple. Well, I wish you the best luck with your novel and your screenplay. I mean, it sounds very exciting.

Ronn (20:20)
We’re in.

Can you tell by looking at me that I’m also a singer?

No, I can tell by your face.

Kristen Knapp (20:29)
Wow, I mean, I’m not surprised. I’m not surprised.

Like, you seem to have a lot of talents.

Ronn (20:36)
That’s why I’m opening

up a musical theatre cabaret.

Kristen Knapp (20:38)
Very cool.

Ronn (20:39)
And so I want you to come, when’s the last time you’ve been to Albuquerque, New Mexico?

Kristen Knapp (20:44)
I’ve never been, I’ve really always wanted to.

Ronn (20:47)
I would like to personally then invite you to come catch a dinner and a show and some musical theater entertainment.

Kristen Knapp (20:54)
Amazing. Well, it sounds awesome. Well, thank you so much. I appreciate

Ronn (20:54)
If you’re interested, if you’re interested.

Kristen Knapp (20:59)
Well, thank you so much for being here today. You make me very excited about, you know, all of your adventures because you’re just so wonderful to talk to.

Ronn (21:06)
Now, if you have any real estate

investment questions, you now officially have a mentor. So you have a resource to go to.

Kristen Knapp (21:12)
I do it.

Ronn (21:13)
Do you have a pursuit niche in the game yourself?

Kristen Knapp (21:13)
Perfect.

I really don’t right now. I’m learning from other people. So it’s great to meet people like you.

Ronn (21:23)
It would be easiest to start with residences because they cost the less and a lot easier. can turn those things around in a month for a paycheck. That’s the best place to start, but get somebody as your mentor to help you yay or nay on decisions. That’s always, and if you are, and if you’re interested in a long distance mentor,

Kristen Knapp (21:33)
Yeah. Yeah.

Well, now I’m a mentor, so. ⁓

Ronn (21:47)
Okay.

Kristen Knapp (21:48)
Amazing. Well, thank you so much. This has been such a wonderful conversation. And yeah, thank you for being here. And thank you everybody for listening. Yes, we will see you next time. Bye.

Ronn (21:55)
Au revoir!

Bye bye.