The Norris Group Real Estate Podcast

Inside Look: I Survived Real Estate 2025 Preview | Part 2 #932

• The Norris Group, Craig Evans

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I SURVIVED REAL ESTATE 2025

Industry insiders focus on what's ahead for 2025-2026

The Norris Group Presents: The 18th Annual I Survived Real Estate – LIVE at the Nixon Presidential Library

We’re back! The Norris Group’s award-winning black-tie gala, I Survived Real Estate, returns for its 18th year—LIVE from the Nixon Presidential Library. Since 2008, this event has raised over $1 million for Make-A-Wish, and we’re not slowing down.

This year’s backdrop?


 A California housing market still starved for inventory, mortgage rates hovering above comfort zones, affordability hitting generational lows, inflation and tariffs. Add in global uncertainty, sticky inflation, and the ever-watchful eye of the Federal Reserve—and you’ve got a landscape full of questions.

  • Inventory Drought: California’s housing supply remains critically low
  • Rate Pressure: Mortgage rates linger well above buyer comfort zones
  • Priced Out: Affordability has collapsed to generational lows
  • Global Tensions: War, tariffs, and instability rattle investor confidence
  • Inflation’s Grip: Costs remain stubbornly high, squeezing margins
  • Tariff Troubles: Rising import costs could ripple through construction and development
  • All Eyes on the Fed: Every rate hint could send shockwaves through the market

As always, our expert panel will feature some of the brightest minds in economics, investing, and housing, ready to tackle challenges we didn’t even know we’d have to face—and to help us all prepare for what’s next.

Leading up to the event, The Norris Group Podcast will spotlight both local and national voices shaping the market. If you’re a real estate investor, 2025 is not the year to sit back and watch—it’s a year to be engaged, informed, and ready.

I Survived Real Estate was born out of a crisis. Our mission remains: to unite thought leaders, serve a meaningful cause, and prepare our industry to navigate whatever comes next.

 

 GET TICKETS HERE: I Survived Real Estate 2025


In this episode:

  • Bruce Norris addresses the misleading narratives shaping the real estate market and the role of social media in fueling uncertainty.
  • Craig Evans and Bruce discuss how market confusion impacts investors and why clarity is crucial in today’s environment.
  • Joey Romero raises the biggest questions on investors’ minds, with Craig stressing the need for reliable data and informed strategies.
  • A look ahead to the Investor Panel, where personal stories and experiences provide valuable lessons for today’s market.
  • Craig and Bruce explains why mortgage professionals and realtors can gain a strategic edge by attending and applying insights from seasoned investors.



The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


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Narrator:

Welcome to The Norris Group real estate podcast, a show committed to bringing you insights from thought leaders shaping the real estate industry. In each episode, we'll dive into conversations with industry experts and local insiders, all aimed at helping you thrive in an ever-changing real estate market. continuing the legacy that Bruce Norris created, sharing valuable knowledge, and empowering you on your real estate journey. Whether you're a seasoned pro or a newcomer, this is your go-to source for insider tips, market trends and success strategies. Here's your host, Craig Evans.

Joey Romero:

The Norris Group is proud to present our 18th annual gala. I Survived Real Estate at The Nixon Presidential Library on Friday, September 12. Since 2008, our event has raised well over a million dollars. This year, we'll be raising funds again from Make-A-Wish OC Individual Tickets are available now. To get your tickets, go to isurviverealestate.com click the link here in the card. We would like to thank the following platinum sponsors, uDirectIRA Services, The San Diego Creative Investors Association, DouglasBrooke Homes, MVT Productions, Realty411, and DBL Capital. Welcome back everyone to part two of the I Survived Real Estate Preview Show. So this question is for the both you also and now you guys have both different perspectives right now, because you're obviously a builder in, you know, active, working every day, Bruce, you're, you know, I don't believe that real estate investors ever retire. They just, they just, kind of...

Bruce Norris:

Oh, I'm not, I'm not retired yet. I'm still on unloading 12 houses.

Joey Romero:

Yeah. So, so you have different perspectives. So here's my question, what do you think the most pressing question is on the minds of investors that are showing up to I Survived Real Estate?

Bruce Norris:

Well, you know, there's, there's...

Craig Evans:

Is that only one question?

Joey Romero:

Let's just start with one, and then we'll, you know.

Bruce Norris:

Well... I think it's so easy today to get misled by a

Joey Romero:

Go ahead, Bruce. website, YouTube, and have people that have no clue what they're talking about, use percentages as saying that this is turning into a disaster. Foreclosures are up 87% which mean they went from one to 1.87 not even as a percentage of the volume of sales, you know, that type of thing. It's a true statement. That's very misleading. There's a guy that I really like his data, but, he's all in kind of on that, you know, and he uses percentages all the time, and he believes that's a correct thing. This is the worst downturn since 2008. Well, there hasn't been one since 2008. So, okay? The next one's the worst one.

Bruce Norris:

Yeah, it's, it's a correct statement that's totally meaningless. Totally meaningless. I'm in escrow with four properties right now. So, you know, somebody wants this stuff. And anyway, I think that's the biggest problem that wasn't around before. Can you imagine if it was around in 2006 and '07?

Joey Romero:

I mean, what's a thousand in 800%?

Bruce Norris:

But it, you know, it just, I think it allows people to gain an audience, and I even think that they think they're correct. So I think the biggest concern is people are, is this going to mimic 2008, okay? Well, it's missing something. It's called foreclosures. People have loans at a two and a half and three and a half percent that make their payment less than rent, and they didn't borrow a bunch of money, so that the huge equity. So let's say you lose your job and you can't make your payment, you'll sell it, and you'll walk away with a few$100,000 and it isn't going back to the lender. So to think that that's going to be catastrophic. So let's, let's go to a subject where Craig is much more expert at an eye. There can be other bundles of properties that have stress. One of the things that we can do is that, you know, we can take a look at inventory. Let's say, of people that are 80 years old in Florida, they own a lot of real estate that's going to get passed on in chunks. So anyway, there's always something. But by and large, if you think this is going to replicate 2008, it is not.

Joey Romero:

So their biggest question is, are you seeing crash coming? All right? So, right, Craig. Craig, what? What do you think you're talking to different types of people? What do you think the biggest question of investors is going into, I Survive Real Estate?

Craig Evans:

Uh, well, I think it stems more around the unknown and, as Bruce said, the misdirection and misconception of what's out there. You know, Bruce was talking earlier about 2008 you know, if we look back, you know, social media started with MySpace back in like, early 2000s, right? By 2010 Facebook had started like, what was kind of the prevalent social media? But it was just everybody showing a picture of themselves and talking, right? And what is social media now? I mean, look at some of the stuff that's out there. How many people look to social media for their news? So you're talking about what was taking place in 2008 you were still having to look to news to get that cycle of what was going on. Now let's look at what's happened. You know the the gentleman here in southwest Florida, that's a realtor that's done 84 transactions in seven years, somehow gets quoted by The Wall Street Journal, and he's now supposedly the expert of Southwest Florida? And the entire world thinks that Southwest Florida is imploding because of one gentleman that's done on average of seven transactions a year, and most of those were land transactions? At 30 to $40,000 I mean, you know this so, so what I'm getting at is so many people are confused and don't know what is going on because they don't know where to get their source of data, because data is coming from everywhere, and just like Bruce said, is the aspect of this, this next crash is going to be the worst since 2008? Well, it's a true statement, there hasn't been one, so we're saying that's a true statement, but it doesn't mean anything, right? So, so I think what I'm really excited for this year, with the panel that we've got and the announcement that we're going to be making at I Survived Real Estate of what's coming. I think we're going to be able to provide a lot of clarity for people this year. I think we're going to be able to get in and get in an answer and kind of stabilize the mood of clarity that people just are grasping for, what is, what is all of the information that we see? What does it really mean, you know? That's, honestly my thought. I don't think it's just one question. I think it's more of I mean, I love Bruce's moodometer. What does it show it's really about the mood of the culture of the buyers and the culture of the economy. And so when you look at that, and then we look at social media and the news and all of the stuff that's being said, it's clear that most of the people that are talking don't know what they're talking about. They get snippets of things, but they don't know how to correlate that and turn it into what's actually real and factual.

Bruce Norris:

They have no history of the data, so they have this little box of data, and think that's the story? Well, no.

Joey Romero:

Yeah. Zoom out a little bit.

Bruce Norris:

Yeah.

Joey Romero:

So, all right, so 2025 has been a weird economy to say the least, and especially in the housing market. You know, there, we've seen the market soften, stock market tank and recover all time highs, right? Yet it doesn't feel like we're thriving. The country doesn't feel like we're thriving, you know. Inflation is hanging around the uncertainty, even still with the tariffs. So we just talked about what you think is on the investor's mind. What do you guys personally hope to take away from this year's event?

Bruce Norris:

I love their background. So same thing, I have a background in charts for real estate. Doug Duncan would have that length of period of time dealing with recessions and things that interchange and play with that. So yeah, I've always enjoyed attending our own event, because there are smarter people on the panel tonight.

Joey Romero:

Half the times, is, how do we solve Bruce's problems?

Bruce Norris:

Oh, no, thank you for saying that. That's funny.

Craig Evans:

That's what's great about this group of people, is it's not like Facebook or Instagram, where we're trying to show the best of us. We're willing to expose ourselves and show the worst of us sometimes and say, how the heck do we solve this? But we're not so arrogant that we're we think we all know it and and Bruce, through his wisdom of years now, has put together groups of people that come to speak in and pour in and then they're willing to also step back and say, I know a lot, but I may not know it all either.

Bruce Norris:

Yeah, you know what's interesting? What you just said, the panelists started to go there. You know, each panelist had their expertise, and it's like, I know it, but all of a sudden, over years, it was sort of like, Hmm, what did you just say? Wow, that's a cool twist, you know. And all of a sudden, truth and exchanges come out with the, you know, brightest brains, but each with an expertise in a different category, where you could say, Okay, what about this? Or what about that, you know? So, yeah, it was. It's been so much fun.

Craig Evans:

So, you know, I'm anxious to see Joey. I'm sorry. I'm anxious to see what you know. Bruce, Joey had put a lot of thought into, who needs to be on these panels, right? What does this really look like? And with the year that we've had, and the the amount of questions, and the lack of clarity that is in the marketplace now, the uncertainty, yeah, I wanted to make sure that we've got people that have lived those experiences. So let's look at what you got, like you just mentioned it Doug Duncan, the amount of background that he has had in seeing inflationary situations and seeing crashes and all of the stuff that had to happen or that happened through those periods. He was at the helm of having to deal with that. You've got Dan Wallach, you know, he's CEO of Shepperd's now, well, he was a CFO of 84 Lumber during '08. And so you're talking about what the number three lumber provider in the country? Number three, number four, and all of a sudden, their, their receivables were now they knew they weren't getting them. How do you work through just hundreds of millions of dollars that you know you're not getting because everybody below you is crapped out on you too? You've got and then, and then we've got you. We've got investors that are coming to the table, that have lived life and can talk about scenarios.

Joey Romero:

Yeah, let me get to that right now, because last year we had a great investor panel, tons of takeaway, great feedback. Probably my favorite moment of the of the year last year, but this year we've got an investor legends panel. And so this question is for Bruce. Bruce, can you give me your favorite Pete Fortunato story?

Bruce Norris:

Wow, I'm blindsided by that.

Joey Romero:

Hey, you did. You're the one who doesn't want the questions.

Bruce Norris:

I think, I think Pete Fortunato, honestly, is one of my, one of my favorite people on Earth. That's the best thing I can say about him. Yeah, he's, he's got a lot of character. Flew across the country to be at somebody's funeral that, you know, was one of the people that we've known, and I was just like, wow, that's, you know, because, I mean, he's 80 something, it's a little hard to get around, little hard to get up to the podium, because he made some that's for Jack Fullerton funeral. He goes Orange County. Yeah. I just think, Wow, this is a genuine, genuine human being, man, and he's always, he's always available, yeah? I just Well, that's what the Rohny Award was looking for.

Joey Romero:

He and John Schaub wanted together in 17.

Bruce Norris:

Yeah, that's he's just forget about being the real estate investor as much as it's just a human being that actually really cares, no agenda. That's, you know, that's what I love about. He doesn't need anything from anybody. He just, he's just a true individual. What's kind of cool about when he teaches, of course, he doesn't need anything. He doesn't need to look at that book. And the best thing when you ever attend a seminar is the Q and A. It goes off, it goes off the charts somewhere else.

Joey Romero:

Well, you know, our investor panel this year is you, it's Pete and then we have our old friend, Tony Alvarez, who is, you know, really excited to pick my brain about my weight loss journey. But that's for another, another day. But why does Tony Alvarez stand out amongst investors?

Bruce Norris:

Oh, it's his personality. I think. I mean he he gets people to do stuff. I'm talking about repetitive relationships. So he's a Lancaster. I meet him. He heard me speak. You know, it's kind of funny. It's It's interesting how things happen, and people recognize who the other person is because of what they did. So I was speaking in front of an audience. There was a question about commercial real estate, and without batting an eye, in front of 300 people, I said, you know, I'm not, I'm really not an expert on that category, so I'm the wrong person to ask that question to well, Tony was in the audience that impressed him, that I automatically just told the truth, and I didn't have to, I didn't play with it. So he came to meet me. Now this was probably 2000 and I'm sorry, let me think about when this was, um, yeah, probably 2001 maybe or 2002 and he owned 50 properties in Lancaster, and he came to me with this list, and he said, I'm, you know, I'm going to be selling all these things. I said, really? Why would you do that? He said, why? You know, it's gone up from where it was. And so that was our first conversation. I said, Well, I own 93 building lots nine miles from Lancaster, and I'm dragging my feet to build them. And he was like, Okay, why? I said, because you're nowhere, done peeking out. And so we talked about why that was, and what was the trigger for me, was Lancaster was the number one destination in the whole country for migration. So if you priced out a U-Haul going to Lancaster, it was free. Going out of Lancaster, it was $3,000 some crazy or the opposite. Anyway, yeah, the opposite. So he listened and held on to his rentals. Now, when it got to the peak, now it's 2005 I'm selling these 93 houses. I'm calling to Tony. I said, get rid of your stuff. You know what he says to me, what month should I do that? I said...

Joey Romero:

He's still mad at you because he held a couple of I stole a couple of them too early. He said I could have, I could have held out two more months.

Bruce Norris:

He said he made 3 million extra dollars. So anyway, that's how I. Oh, okay. Now, okay. But one other thing so I said about his character and personality. He had never spoken in front of an audience, but I got to know the guy, and I really liked him. I liked who he was. And we had an event where I made him the last speaker. Mike Cantu said after me, thank God you put him not in front of me, because Mike was still looking at this notes, you know, reading basically, and Tony was just personable. Well, after a standing ovation, that was two minutes, people lined up to hug him. I've never seen anything like that.

Joey Romero:

It was like an Italian deli. You needed a number.

Bruce Norris:

It was, it was crazy. I mean, people just love this guy. So anyway, yeah, that's, uh, he's a special guy.

Joey Romero:

All right, we're getting a little long here, so I'm gonna wrap up with a couple last questions. This was for both of you, and I'll start with Craig. All right, I get it why real estate investors want to come to our event, but give me your best pitch on why mortgage professionals and realtors should come?

Craig Evans:

Again, I think if you look at the group of people that are going to be on stage and the wisdom that they're going to impart, let me back up. I don't want to look at this as a meet and greet in a place that you're going to, you know, do 12 deals. Does that happen? Absolutely. People get in. They get a talk and but, but what I've seen is that, that's really not what happens there, right? But for real estate professionals, for mortgage brokers, for agents to be there, I think they're going to gain an understanding of, really, more about what the market is doing. Again, I go back to gaining clarity in the market. You know, I was talking with some sales teams from another broker's office this morning about this process, and they were dumbfounded that that's what we're putting on because they never heard of that. They've never heard of something that is in what we're doing. And I think that so many industries like real estate sales, real estate brokerages, things like that, oftentimes they're just, they're very transactional in nature, and so they just go along with what's riding. But to be able to gain clarity on what the market's really doing, you know, I think, I believe that real

Bruce Norris:

And he was a realtor that got the 2006 estate agents, mortgage brokers can start to strategize how their business grows from there in an aspect to really change their business structure and how they do business based off the clarity they can receive. California Crash. Well, because he believed it, he called all the lenders before they had an REO. Is that you're going to get a lot of REOs, and I'm your man. You know how many listings he typically had at all times after it hit?900 I would I went to speak to his you know, where he was just, he was just one of the broker, the one of the agents, right? I went to speak to his office. Not, it wasn't his company, but he worked there, so they were giving awards. Okay? This gentleman has 37 closings this month, and the next two have won a piece. Now it's true that what it, my dog is barking.

Joey Romero:

Aubrey, go lay down.

Bruce Norris:

Yeah, lay down. What it does for mortgage people and for realtors, is have them be able to look at charts and be in the next right position early. Because that is a big deal. That is a very big deal because once you have relationships, let's say, with lender owned properties, they don't replace you, you've got the next 20, okay, so And there's, there's also, there's just a lot of things you can know in advance and say, Okay, I'm gonna put myself in the right position deal with the right people. So investors wouldn't have been really smart to deal with. Investors that could buy 50 houses like Tony Alvarez when the things were to discount. Not very many people did that. That wasn't their niche. But how many 1000s of the properties, could they have sold if they did it? So that's why I like charts. It gives you direction in advance, if you know what it says.

Craig Evans:

Well, I think Bruce, what you brought out of that is, again, there's not going to be this massive REO rush of that coming to the product. So how do realtors and mortgage brokers know how to strategize getting that clarity and learning that I think is going to be so crucial for them to be able to continue and push through these, seasons of what's happening in our market.

Bruce Norris:

Well, I think it's very valuable, because if you understand that you're dealing with a buyer, this is, you know, I'm just going to, I'm just going to wait until prices crash. Well, that's really not a good idea. If you see the home you love for the next 20 years. You know you want to make an offer and go on it, because what you're waiting for isn't going to occur, as a matter of fact, and this is something that we'll probably get to talk about on the, on the panel. But there's a couple of laws that that gets passed as some serious game changing going to go on for real estate.

Craig Evans:

I was gonna say, don't say too much.

Bruce Norris:

I won't.

Joey Romero:

All right, you heard it here. Hey. All right, so I'm gonna, I'm gonna, I was gonna talk about legacy, but you guys have talked about that. That was gonna be my last question. So I want to, I want to take a fun one. All right, so second and last question, if you can get anybody in the country right now to attend and be on the panel, who would be your dream guest?

Bruce Norris:

Craig, go first.

Craig Evans:

Wow. Dream guest, wow. So this is, this is an interesting one, and it'll probably seem weird, but I think one of the, I mean, you start talking about investor, an institutional investor. Who is it that you come to mind, right? Is Warren Buffett. I think to have Warren Buffett on a panel like what we're doing with as brilliant a mind as he is, I think would be a lot of fun to have someone like that on a panel, and not just because of his name, but just how he has looked at things in the economy, year after year after year, had been right.

Joey Romero:

Bruce, who would you? Who would you be your dream panelist?

Bruce Norris:

You know what? I'm gonna this isn't a cop out. We've we've had him, you know. We've had him for the last how many years . We've had our we've had our choice of people coming, and I really feel like we have the battle that I it's who's who of our industry, character and different approaches, you know, like Pete Fortunato. What's cool about Pete is who he is, but you present Pete Fortunato with a problem. Oh, it's 20 solutions pop into his head instantly, you know, because that's where he goes. So, anyway, I don't have a Warren Buffett in mind, but I just think over the years, we've been able to attract the right group of people that have different expertises and are willing to let their hair down and listen to the other people and contemplate, huh. Hadn't thought of that, you know.

Joey Romero:

So I'll, I'll give you guys an opportunity to just give you your little last closing remarks. But I want to say something first, for me, I Survive Real Estate feels like a family reunion. It really does. I get to see people that we don't get to see that often. You know, we don't do the club circuit as much as we did before, and we got to know a lot of people with our Boot camps, with our events. And it really does feel like a family reunion every I Survived Real Estate. So that's what I'm really excited to see, all the people that are still in the game. I get to see all the old pictures of when it first started, and to get to see like, man, like they've been coming for 20, you know, 18 years these, some of these folks. So for me, that's what's most exciting to get to see a lot of our old friends and a lot of great, good people that would literally give you the shirt off their back. So let's, let's close with some, just some closing remarks. Bruce, why don't you go first and we'll let it. Craig, finish it off.

Bruce Norris:

I think my favorite thing about the event is there's no agenda other than the truth. You know, there's no sales pitches and stuff like that. It's just like, we've just got the best people in the industry that don't do this for anybody else on on a whole panel together, and they trust each other enough to bat it around. It just doesn't get better than that. It's just doesn't.

Joey Romero:

Craig?

Craig Evans:

I mean, listen, it is an honor to carry on the tradition and the legacy that Bruce and Aaron started. So there's a lot of weight every time I you know, last year and now this year, and there's a lot of weight of prepping for that and things like that. But I take that with love and cherish it. But as I said at the beginning, listen, all the stuff that we do in the industry is great, but at the end of the day, to have an opportunity to, as an industry, affect children's lives that need a touch at the most devastating time of their lives. To me, I am I am unashamed at saying, if you don't have your ticket, go get it. If you haven't sponsored, go get it. And it's not about making money. We we lose money on this deal as a company, and I, we will forever do that if that's what we do to be able to effectively change kids lives. So I am thrilled for September the 12th. Can't wait. I'm excited, excited to see everybody. I'm excited to be around greats, of the greats and best of the best. But I'm excited to know that as a group of people, we can effectively change kids lives. That's what I'm ready for.

Joey Romero:

Craig, Bruce, thank you so much for jumping on and doing our I Survived Real Estate preview show. So there you heard it. September 12 at The Nixon Presidential Library again. Come dressed to the night and enjoy a great meal and some great information, and go give your old your old family members, some hugs. All right, guys, thank you. That'll be all for this week, and we'll see you in a couple weeks.

Bruce Norris:

I can't wear this shirt?

Joey Romero:

You can. You can.

Bruce Norris:

Put it under my touch.

Craig Evans:

That's it, that's it.

Joey Romero:

Don't forget to visit isurvivedrealestate.com for tickets to the event on Friday, September 12. The Norris Group would like to thank the following Gold sponsors, Keystone CPA, The Inland Valleys Association of Realtors, Pasadena FIBI, The North San Diego Real Estate Investors Association, LA south REIA, NorCal REIA, The Wizard of the Wobbly Box, Andy Teasley, Shepherd's Finance, The Thompson Group, PropertyRadar and White House Catering. The dinner wine is provided with a generous contribution by Rick and Leanne Rossiter. Hope see you all there.

Narrator:

For more information on hard money loans, trust deed investing, and upcoming events with The Norris group. Check out thenorrisgroup.com. For more information on passive investing through the DBL Capital Real Estate Investment Fund, please visit dblapital.com.

Joey Romero:

The Norris Group originates and services loans in California and Florida under California DRE license 01219911. Florida mortgage lender license 1577 and NMLS license 1623669. For more information on hard money lending go to thenorrisgroup.com and click the hard money tab.the Norris group originates and services loans in California and Florida under the California Dre license, 01219911, Florida mortgage lender license, 1577, and an MLS license, 1623669, for more information on hard money lending. Go to the Norris group.com and click the hard money tab.