Luis Omar Figueroa, the founder of Hudson Group Realty Network Commercial Lending (HGRN) in New York City, had an exclusive podcast with Tony (Disrupt) Delgado. The two CEOs and Founders share one thing in common – entrepreneurship.
Luis, the founder, and operator of the successful commercial real estate and brokerage company, HGRN, agreed with Tony based on the digital economy. In real estate, the COVID19 pandemic brought a mixed disruption. Those that already had a digital footprint thrived, while those who had been ignoring it had to start abruptly on how to operate online and figure it out as they went.
Luis Omar has been helping people make one of the biggest decisions in their lives. Buying a house. He mentioned how people who have their houses outside the metropolitan areas are comfortable in the podcast, but the most affected are the renters in dense metropolitan areas. They are suffering all kinds of shortages, with the worst being food and supply shortage. This was due to the hype of people buying many things to get ready for the pandemic. The supply in the heavy areas was overwhelmed, leading to a shortage. The delivery methods of supply did not anticipate the sudden demand. So it led to empty shelves.
“This shortage accelerated the digital economy,” Tony said, “the stuff that I’ve been talking about for years; now you have to work from home.”
In Luis Omar Figueroa’s industry, Real estate, both positive and negative disruptions happened in respect to the pandemic. “The opportunities available right now are low-interest rates. This is the best time to buy a home.” Luis said. “Businesses that were not impacted by the pandemic are doing very well. I have some friends reaching out to me telling me that they are looking to buy another home.” Luis said this is a direct contrast to the severely affected people living in the government’s mercies to release some stimulus funds.
Some people are taking advantage of the pandemic and being apt to transform and adapt to the new normal. “My friend Hugo Sanchez runs a restaurant in Brooklyn. I was scared for them and their Business and then came to find out a few weeks later, they adapted they started doing pickups, they start doing Uber eats, they started making all the adjustments. Now they’re really thriving and growing exponentially.” Said Tony as he agreed with Luis about being able to adjust to any situation.
Preparing For the future
Luis Omar advised people that the best time to make a move is now. “People are always asking me, ‘what’s the best time to buy a house?’ my answer is always, if it’s your primary house, today is the best time to buy it” Luis explained that the reason he is advising people, including the Latinos to move to their own house is that they rather spend money buying an asset, than spending a similar amount paying for a rented liability. “It only takes discipline to make that decision. Discipline is a simple decision to become self-aware, hold yourself accountable, and strive to move forward,” he continued. “ The mindset shift when you own something is tremendously empowering.” You become vested and concerned in your neighborhood, there is a shift from apathy to empathy.
Advice to the young Latino Community
“This young generation is putting more focus on the result rather than the process,” Luis Omar, stated. “They should know that the process is what defines the end result. Every mistake I have made in the process; every hundred thousand dollars I have burned in my 20s is what molded me into who I am now.” “ They were the lessons that helped me define who I am.” He continued.
“I am always telling young people that when you’re first getting started in your career, the job that you get, the reward is not the payment. The reward is who you get to become, the skills that you get to develop in that job.” Tony Delgado, the award-winning programmer, added.
Luis Omar, who has been offering consulting services in Ask Luis Omar, has been giving an ear to everyone, and with his empathic listening, he is among the best advisors. “Even if you clearly write your goals and recite them every day and omit the hard part – executing on the idea– then nothing will happen.” “You need to embrace the journey which includes some work”
Tony concludes the podcast by advising young people to ensure that they become the kind of people who leave a place better than they found it. “I’m the type of person that when I walk into a room, and I leave, the room was better than before I walked in.”