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Wesley Knight 0:00
This is a Kun V studios original program. The content of this program does not reflect the views or opinions of 91.5 jazz and more the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. I don't
Music 0:15
dance now. I make money. Move. Say I don't gotta dance. I make money. Move,
Lamont Harris 0:31
hey, hey, it's Lamont Harris with money. Moves, I am here. It is Sunday, a beautiful day in Las Vegas, Nevada. I'm so excited about my two special guests that I have on with me today. I've got Jimmy Castillo from worldly Realty. Jimmy, what's happening? Hi, hi, hey everybody. And I've got my my good long time friend and real estate guru, Mr. Roger Moran. Mr. Moran, how are you? Heidi
Roger Moran 1:03
Ho, everybody fun. Thank you for asking. And how's everybody out there in the audience? Hey,
Lamont Harris 1:09
so listen guys. So, so today, I've got these two guys on the show with me today, and we're going to talk about making money moves in our current state of market. And a lot of our focus on today's show is to really deep, take a deep dive and explore whether or not making money moves is something that we actually can do in our current state of economy, because there's a lot of uncertainty. A lot of people are on edge in terms about the uncertainty of the economy, about inflation, and about whether or not they should be taking a step back, or is this the time to actually go all in? And I guess I'll start with with you, Jimmy, you are the guy that we turn to here in in Las Vegas, being that you are, you know, boots on the ground that you are a realtor here in this city. You know this market better than some, but then you've got even an extra edge, because I understand you also are licensed as a loan officer, so you've been in this space for a really, really long time. Talk to us a little bit about you. For those that don't know who you are, Jimmy, where'd you come into getting into mortgage and real estate and and how long have you been doing this? Talk to us about that first. Thank you,
Jimmy Castillo 2:30
Lamont, thank you for this opportunity. Well, my name is Jimmy Flores, Castille. That's my full name and my Instagram handle. It's, it's Jimmy Flores. Give me a follow, and I'll follow you back. Well, as you said, Lamont, I've been in this hands down for about three years or more. I've actually started with loan depot through their ACES program, went through that put, got put right on the phones, and that's where I learned how to do most of my cold calling. And just get get the shakes out of my and get my confidence, build my confidence up so that I'm actually speak intelligently about these things. And sure, sure, you know, absolutely, um, I was really doing it during the big mortgage refinance, boom, right,
Lamont Harris 3:25
right. So the height, the height of COVID, right? So the height of COVID, everything was going down, right? Everybody was refinancing. It was like refinance opportunities. They were like falling out of the sky. Everybody wanted the 2% the low twos, the the low threes. They were jumping and fighting over those rates, right? And so, so Jimmy, what? How have you seen things evolve, right?
Jimmy Castillo 3:46
Yes, well, this is like a kid in the candy store, right? Everybody had the potential of saving money, but what I really focused on was helping people listening more than speaking, and really get into what their issue was and providing a solution. You know, it felt really good. And right now things have changed that sometimes you can't help everybody, right? Yeah, but you do want to find those person people that you can help. Sure, and it's very rewarding when you do help them.
Lamont Harris 4:18
Absolutely, absolutely it is rewarding. And speaking of helping people, one of the guys that knows is no stranger to helping people, Mr. Roger Moran, Roger, you've been doing this for, oh my god, probably longer than I've been alive. Roger, can you just for our listing audience? Can you talk how long have you been in real estate and mortgage? How long have you been around that industry. Roger, when did you get started? Well,
Roger Moran 4:42
you know, my background is sort of varied from what you have had in your life. My background started in education from Texas, A and M. I went to work in high schools in Long Island, where I'm from, and then from there, I. I got my master's degree in counseling and guidance, and worked for the Department of Defense for several years in Europe and in the Far East. When I came back, I I started working in in real estate. I started about I had a real estate license in 1959
Lamont Harris 5:18
1959 right, longer than I've been alive, Roger, I
Roger Moran 5:24
always thought that real estate would be my game, and I knew that money would be made in that business, and it would be an area that you could make money and help a lot of people with homes in affordable homes and expensive homes, whatever they wanted you could have, you could help that person out. So I've traveled all over the world with real estate,
Lamont Harris 5:47
awesome, and that's great, right? So you travel all over real estate. You've been involved in real estate in some way, shape or form, since 1959 we're in 2025 and in 2025 you're still moving and shaken, I got to ask you, because you know you're the person to ask, right? You see a lot of uncertainty. Nobody has been through more uncertain times than somebody that started in real estate back in 1959 if you think about that, all the things that you've seen over the years when it comes to not just the housing market, but the economy as a whole, you've, you've seen the highs, you've seen the lows, you've seen it all. And I got to ask you, Roger, in those highs and lows, you know, there's always uncertainty, right? There's always uncertainty. I, you know, I get people telling me all the time, all Lamont, you know, I would, I would really go all in right now, at least from an investment standpoint, but, but I don't know that this is the right time. I'm a little I'm a little leery on interest rates. I'm a little leery on the uncertainty of our market. What do you say to a person that says they're a little unsure about whether or not now is the right time. What would you say?
Roger Moran 7:04
That's a great question, because I have a rule of thumb that I use in my life, and it's always the right time to get involved with real estate and marketing, because of the fact that I've used it, as I said, a rule of thumb every 10 years. Whatever you purchase today, in 10 years from now, with the wave of the economy going up absolutely today, and 10 years from now, it'll be double. Whatever you paid for today will be double in 10 years from now. That's an
Lamont Harris 7:38
interesting rule of thumb, and you've been living by this, I'm sure, I'm sure, for years, right? I know that you own real estate internationally, right? You own real estate all over the world, which I think is really, really impressive. You got a really, really impressive portfolio. I think that you know, the last time that you and I talked off air, one of the things that I learned about you, Roger, if your real estate portfolio exceeded some $25 million right? Which is absolutely amazing to a master portfolio like that. So, so Jimmy, I got to go back to you for a second, because you made some good points earlier. We were talking off air. You were you were telling me about some of the things that you're seeing specifically here in Las Vegas, in this market, and one of the things that we were talking about is some of the creative opportunities that you found specifically within the Latino community, right What are you seeing right now in terms of the market, specifically the Latin market, and what are some of the challenges that our consumers are facing here in Las Vegas, and then, what are some suggestions that you have for them to overcome some of those fears that a lot of people are having in a market like the one we're having right now? Thank you
Jimmy Castillo 8:53
for that question. Lamont, I don't think it's fear. I think it's lack of knowledge. You know, I've interviewed a few people in hospitality, okay? I have a part time job on the weekends at the Fountain Blue, okay? And I just hang out at the we call it the memo, which is the lunch area, okay? And I talk to people, you know, it's what I do. I'm an entrepreneur. I like to, you know, get other people's perspective. So I ask them, Hey, have you ever thought about buying a house, or what kind of difficulties have you come across? And Nourse at the time they um, there you get two different types of people. You get the one people that, um, back of the house. You know, many don't even speak English, let alone know where to get information on buying a house. And those are the people who are underserved. Got it, right? So making, in my opinion, making a platform or something that can cater to these people is crucial for them to get the knowledge that they need to be able to even think about buying a home. That's
Lamont Harris 9:55
interesting, right? So lack of knowledge, that's something that I talk about a lot, right? I talk about, you know. We talk about bridging the gap in underserved communities, and we talk about where to start bridging that gap. And one of the things that that we highlight is the gap could be bridged if it weren't for a lack of knowledge, as well as also resources, right? So I know that fear, a lot of times, is something that plays on people's emotions, and that fear could just strictly come from what you said, which is you don't know what you don't know, right? And so what are some of the things that you are doing to help bridge that gap, to help actually create a platform where that information becomes more readily accessible to someone like that.
Jimmy Castillo 10:42
Well, me and a team here at UNLV are working on like a home platform where we're going to use AI to help us make videos that explain our programs, things that we offer with Harris capital in Spanish language. That's
Lamont Harris 11:02
awesome. So so for a lot of people are in our listening audience. They may not know, but Jimmy, you are a a full time realtor, you are a full time loan officer. You are a student also here at UNLV, right? And and so we, you know, we're just thrilled to have you on air to be able to share some of your experiences, but also share your expertise, right? This is an area that you focus on. You've been very passionate about sharing some of the opportunity for Harris capital to to help bridge the gap with you, and we're excited to have you on board and be able to partner with you in that respect. I just I commend you for all that you're doing in the community in terms of, like, buying a home right getting started. We talk about some of those fears, but you also express that that you feel a lot of it comes from just a lack of knowing. What are some of the initial steps that an individual would take if they actually wanted to say, Hey, listen, this is not the year of fear for me. This is the year of opportunity for me. I am ready to not just make money moves, but make the moves that are going to actually help bridge the gap of home ownership, not only in my community, but in my family. Right? What are some of the initial steps that an individual would want to take when they're considering whether they should or shouldn't move forward. Like, what would you suggest? How do I move forward? There's so
Jimmy Castillo 12:30
many things that you can that I can say to to kill that fear, right? But the biggest one I'm saying is that I'm concentrating on is going to be equity. I love it. If you're renting, you're you're not going to get none of that back. If you're paying a mortgage, you're going to get equity. And like Roger said, 10 years is going to double. I am proof of that. Me, I bought my house in 2015 Okay, 240,000
Lamont Harris 12:56
Okay, and
Jimmy Castillo 12:57
it was a brand new spec home. Now it's about 460 you know. But that's not the point, right? Yes, you get equity. But also, you know, you're putting roots down. Like, if you're here, if you're from Las Vegas, and you you love the city, like, I love the city, you're going to put some roots down absolutely, and I can help you get there. A lot of people just say things that, that repeat the negative, you know, and that's where that fear comes from. But there's, really, there's no fear in this. You know, our our market is strong. We're headed in the right direction. So just put those naysayers to, you know, any I always say this, anybody who says, Oh, don't buy a house. It's not the right time. Guess what? They already own a house, you know? So get that fear out of your mind. You know, you're just putting down roots and you're getting equity.
Lamont Harris 13:45
I love that, right? You make it sound so simple and easy that anyone can do it, right? I mean, it sounds simple and easy, right? Roger. I mean, he's he's saying, Hey, look at the end of the day, if you want to do it, just do it. You made a great point earlier. You know, you said that you use that rule of thumb about real estate doubling every 10 years or so. Jimmy, just in his in his own life, he's living proof that that's real, right? Not only is it real, but now he's able to go out and help others be able to accomplish that. And listen, I know you said the equity is just that, but like, at the end of the day, I think the equity is huge. And I think the equity is huge because, to Rogers point, real estate is one of the fastest ways of creating wealth that we pretty much have, right? And so if you could buy something and have it appreciate over time, and you could pull from that to help you go do future acquisitions or do things in your life that you normally might not have been able to do as quickly. What better investment is there to make than real estate and Roger, I know you've been involved in a ton. Of industries, including oil, but with real estate, why is it that real estate is something that's so passionate for you?
Roger Moran 15:08
Well, just think about it. There's always more people and there's less land. As population grows, you have less and less land to work with. Now let's take our area here in Las Vegas, I had been to all the gambling places in the world, Monte Carlo. Monte Carlo is surrounded by a city, if you ever been there in France, southern part, if you ever been to New Jersey, you know, they have that wonderful facility there. Oh yeah, oh yeah, yeah. Atlantic City, okay, it's surrounded by a city, the gambling area. If you ever go to Puerto Rico, surrounded by a city. If you ever go to Germany, Baden, Baden is surrounded by a city. Absolutely. If you go to South Korea and you go to the beautiful facility that they have there, it's surrounded by a city. So every gambling place in the world that I've been to is surrounded by a city. There's only one place in the world that is not surrounded by a city but by sand, okay? And that's us. And one of the reasons I came here is because I knew years ago, when I first came here, that the only place that could develop would be an area like this, because the land is available outside of Las Vegas itself. So this area will continue to grow because of what we're seeing in California now, and all the things that are happening in the world, you know, with with the economy, sure, having trouble, everybody trying to get out of the forest fires. And they'll be coming over here. They'll go to Texas also. But this is the area where people want free money, gambling places where people think they're going to get free money. And those are the two important words in our English language, free and money. And so they think by coming here, they're going to have that ability to make it, and the land is going to go up. Extent, it'll be phenomenal. Oh, it's going
Lamont Harris 17:15
to go up right, and it's going to continue to go up actually, you know, you know, obviously, if we go back right, it's February 2025, the Las Vegas real estate market currently, it exhibits a blend of growth, right and volatility, right? If we go back to January, for example, in January of this year, single family homes reach 485,000 right, which is an increase of $40,000 from 2024 amazing, right? So, so there's your year over year growth. Condos and town homes in the area are seeing median prices right now at $293,000 and Can I be honest? I don't know if you guys realize this, that's up $18,000 from the previous year, right? So you know that the from an inventory perspective, you know, nobody knows this better than Jimmy and we were looking at inventory for February. And listen, single family residential listings in the area have increased from 5600 to 5700 units over the last 30 days. That's in the last 30 days, right? So you got, you have more homes now on the market than you did 30 days ago, which is great, right? And then here you also have, you know, you have units sold rising as well during that same period. So what that tells me is, it tells me that we're getting new inventory on our market. But the demand for that inventory is not dwindling. It is actually continuing to rise month over month. And to your point, Roger, when that sort of thing happens that will lead to continuous equity in these homes that are being built and bought by people like you, Jimmy and myself, we're buying these homes. Equity is growing in those homes right away, and so Roger, you might be on to something with this. Every 10 year, you know, growth in property. I think that's something that people should really, really be cognizant of. Jimmy, what do you think about all this?
Jimmy Castillo 19:21
I agree. I totally agree. The interest rates. Everybody always talks about the interest rates, well, they're finally cooling off, right? And how does this impact the buyers? Well, it's going to make it more affordable. Yeah, right. But also new developments. I just toured the boulevard project, okay, just the other day with my Rebs, shout out to the Rebs, our UNLV real estate business society, and it's an amazing project. That project went up in 18 months. Must be a record breaking time. Wow. And it's gonna be starting opening it at, I believe, in three months. Have the leases all signed. So who is there? Yeah,
Lamont Harris 20:02
so I was gonna say, so a lot of people aren't aware with that Boulevard project. Talk to us a little bit about that. What's happening
Jimmy Castillo 20:07
over there? Amazing man, 18 months got it off the ground. The developers are from New York. They partnered with Las Vegas construction companies. Because you got to do that. According to, you know, absolutely, and you out of towners, you absolutely partner with Las Vegas to get anything going here. But 18 months is record breaking, in my opinion. And these are just one of the things that are happening, right? And then we got the A stadium. We got so much growth in this city, absolutely crazy. So breaking that down, if you're a first time home buyer, the home values are stabilizing, and the programs available to you for help with down payment are getting even better. So
Lamont Harris 20:48
talk to us real quick. So you're talking about down payment assistance programs, things like that. I know a lot of times we you know, you heard me earlier say, hey, you know, one of the things that we could do to kind of bridge the gap, and bridge the gap at a consistent pace is going to be to make sure that we do one thing, and that is address those fears that a lot of consumers have, but then that second thing that's all important, and that is provide the knowledge that people need so they can Make choices to actually put themselves in a better situation. Talk to us about some of these programs. Jimmy like do I have to be? Do I have to be a first time home buyer in order to qualify for some of these programs? No,
Jimmy Castillo 21:32
no, that's a great question. You you more normally people think, hey, I need to be a first time homebuyer to qualify for down payment assistance. Well, that's not true anymore. Okay, so you will have a second home. So
Lamont Harris 21:43
I could do it. I could do that and Okay, so then that brings me to my next question, do I have to put down 20% down? Because, like every time I hear people talking about buying a home, the biggest thing that that's been a fear for me is like, I don't have 20% down to put down on a home right now, do I have to do 20% down?
Jimmy Castillo 22:03
Nope, you don't have to. I mean, if you're a veteran, you go 0% down, right? We have down payment assistant programs that are on the back end. You got to stay in the house for three years or five years, depending on program, and then that whatever down payment they assist you with that gets wiped off. So if you're here for three years, you can take a program, they'll put a second lien as a down payment assistance that they gave you on the house, and after three years, it falls off
Lamont Harris 22:34
and so and so. The important thing for those that are listening at home, that are listening to Jimmy RIGHT NOW, to remember is Jimmy is just, you know, Jimmy's talking about a few of the programs. There are so many programs out there. You might not have to stay in a house for three years. You might not have to stay in a loan for three years. You might be able to get into a down payment assistance program today, six months, nine months down the line, as interest rates continue to fall, you could be in a situation to refinance out of that and then get into something that has a lower payment potentially in the near future. And that's the thing that I like about our current state of market. I hear people constantly saying, hey, there's so much uncertainty. There's so many programs out there that people are qualifying at record levels, right? And so I think that creates opportunity for growth in real estate. Yeah, here's
Jimmy Castillo 23:34
another opportunity. I'm just going to float this out, guys, because I'm with a lot of my peers here, and we're college students, right? We don't have a lot of money, but a lot of us are creative. You know, there's this thing going around now. It's called House hacking, right? Three or four people get together, they buy a house, everybody pays a little bit. And between everybody, you're, you're actually renting a room, right? And you, if you're the main person, if you're the creative person who has the ability to get this going, and you got enough people, you can practically live for free. You know, a couple of years later, everything will start regulating, then the prices might come down or go up, but you know what, your equity, you're building that, and you can always make a move off of that. So there's
Lamont Harris 24:19
it's all about making moves. Roger, like he, I mean, he's talking about House hacking. Roger, you know, have you? Have you even heard of anything like this? Roger, no, I love
Roger Moran 24:28
the idea. In other words, you're saying, Jimmy, that if I get two or three other friends of myself, and I'm a student, and each one of us put in, let's say, $3,000 we could possibly own that house. Less
Jimmy Castillo 24:41
than that, I would say, right? That
Lamont Harris 24:43
part sounded exciting. One look, $800
Jimmy Castillo 24:47
you're gonna share a space with somebody here in the university. $1,000 might get your own single one little space, you know, put that $4,000 that's a mortgage, right? There. Four people in one house get a four bedroom house, each one. Pays 1000 whoever is the main person is benefiting, right? But so is everybody else, because you don't got to share a room in the dorms where it's smoke and they're partying every weekend and all that. You know, you get your little space, and you can do a lot more with that.
Roger Moran 25:11
The house might even have a pool too,
Jimmy Castillo 25:14
you know where you go.
Lamont Harris 25:16
I mean, that's pretty creative to hear that. You know, in this day and age in 2025 that it's pretty awesome to hear that college students are thinking outside the box. And one of the areas that they're thinking outside the box in is real estate, right? So, you know you talk about making money moves. That's making a money move, right there. Jimmy, so shout out to you guys and all your fellow students at UNLV that are a part of this initiative with you guys. Sounds like you guys are really onto something there. Roger, I'd be remiss if I didn't have you share real quick with our audience. We've got about two and a half minutes left on air, and before we get off air, if you could give us all something to live by, obviously, at the end of the day, this show is geared towards real estate mortgage and making money moves in that space of real estate. What would you leave for us as closing words that hey, something to live by as we think about whether or not this is the right time or whether we should wait.
Roger Moran 26:24
Well, I heard, you know, you asked me that question. Great question, of course, but getting away from real estate directly. You know, I mentioned before, 1959 was when I got my first license in real estate in New York, where I'm from, but in the process, I live by the basis of your health is your wealth. If I didn't take care of my health, I wouldn't be here today talking to you both. So when the point that I'm breaking out very strong aspect, if you want to enjoy life, if you want to maintain things, financially and physically, take care of your health. Invest in the right things. Go to the right people. Make sure you have the right education, as Jimmy mentioned. But go to fellow by the name of Lamont Harris. He'll give you the right direction. There
Lamont Harris 27:16
you go. I appreciate that. I appreciate that. Hey, real quick, Jimmy, if you could real quick the listening audience if they want to follow you on Instagram. Can you give us that handle again?
Jimmy Castillo 27:25
Yes, it's, it's Jimmy Flores Instagram handle. My full name is Jimmy Flores Castillo. You can find me here at the university. I'm always wearing my UNLV hat, or at the real estate and business society, which I'm a member of, and I just joined the rebel venture group. So it's gonna be amazing this year. I look forward to meeting with all my students here come say hi. I'm always available. I'm very friendly, and we could just talk about it. You know, the more informed you are, the better to make those money moves. Hey, real
Lamont Harris 27:56
quick, before we go off air, somebody wants to call you. Give them the number real quick, Jimmy, how do I call you? 626-394-9989, call me one more time. One more time. 263949989,
Jimmy Castillo 28:08
if you want to learn how to get a house or you just want to get your foot in the door, I'm open to talking with you and consulting and getting you where you need
Lamont Harris 28:15
to go. Awesome, guys. This Lamont Harris again with another episode of making money moves, I've been joined by my good friends Jimmy Castillo and Roger Moran until next time. You guys be blessed. Enjoy the rest of your Sunday afternoon and you guys go make some money moves, let's go, rebels. It don't grow on
Music 28:36
a tree branch about to go broke. Someone Throw me the green bags money. Yeah, you put it where your mouth is looking for it. Underneath the cushion on the couch is money. We can all use a little more to move around from the mall to the liquor store. Money. They say it's equal to time, the fees and the fines to keep you in line. It's called money.
Sometimes you're flushing, sometimes you're busting. When you're up, it's never as good as it seems. And when you're down, you never think you're gonna be you're going to be up again. A pipe rolls on that.