Transcript of Why Nvidia Dragged The Market Down & Jade Shenker (Owning Manhattan on Netflix)

You know, there was this 1 time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money. We've all had that moment. Right?

Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances. With no monthly fees, no maintenance fees, and fee free overdraft up to $200 with Spot Me. Imagine overdrafting and not having to worry about fees piling up.

Chime's got you covered. Plus, Chime isn't just a financial tool. It's a community. You can get boosts from friends to temporarily increase your spot me limit, and when you help someone out with their own boost, they can return the favor. Friends helping friends make progress.

It's that simple. So why not make your fall finances a little greener? Open your Chime account in just 2 minutes at chime.com/mn. That's chime.com/mn, as in money news network. Chime feels like progress.

Banking services and debit card provided by the Bancorp NA or Stride Bank NA, members FDIC. Spot Me eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in Spot Me and are subject to monthly limits. Terms and conditions apply. Go to chime.com/disclosures for details.

I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if, say, you wanna put your summer home in Maine on Airbnb, but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a cohost network, which is a network of high quality local cohosts with Airbnb experience that can take care of your home and your guests. Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you.

I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co host, so I can still make that extra cash while also making it easy on myself. Find a co host at airbnb.com/host. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab.

Hey, everybody. It's me, the Einstein on Wall Street from the floor of the New York Stock Exchange. What a great day to be alive and to be in this market. Ladies and gentlemen, I'm going to be your temporary host sitting in for Nicole Lappin of Money Rehab as she is on maternity leave. Let's all wish her health and happiness for her and her family.

It's a beautiful thing. So stay tuned. We're gonna be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024 in food, in fashion, and finance, and fun. We'll be seeing a lot of you, so stay tuned.

321.

Hey, everybody. It's me, the Einstein of Wall Street. We are here with Train Like Einstein. I am Peter Tucano here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day.

Somebody with my long term experience, I've been here for a 137 years. It is my responsibility to help teach you how to navigate this market successfully. Boom.

Hey, everybody. It's me, the Einstein at Wall Street from the floor of the New York Stock Exchange right under the podium. Forget about it. So, look, where are we? You know at the end of today, because we did have a little bit of reversal, the market got taken down by by NVIDIA.

Stuff out of China, there were some accusations about an antitrust thing, a monopoly story. And so there's some major accusations against NVIDIA, which has been best of breed, Jensen best of breed for the whole year. It's carried the whole market. It's the first time there was really any kind of bad news on it. And you know how 1 stock can really drag down the sector, and that's what it did.

It took the Nasdaq down. We broke a winning streak in the Nasdaq, but it's a day. A day doesn't make a market. A week doesn't make a market. So the market was all red throughout the day.

I think we closed down around 25 handles on the S and P. Friday, we traded and closed at record highs. We had the economic data we were looking for. Unemployment did tick up a little bit, and that was majorly a function of the hurricane and some strikes. That was up from 4.1 to 4.2.

But still, the trajectory has been great with employment, and the numbers have been good. Payroll numbers, 277 versus whatever. Last month, we only had 12 to 14,000. This month, we're back into the 100 on jobs created, nonperformed payroll jobs. Right?

I'm trying to get the psychology and the mental the mental state because you know when you go home after listening to me, you're gonna hear everybody in the mainstream media talk about, oh my god, it's over. They're selling off. It's the beginning of the end, blah blah blah. But that's not necessarily the case. When we see markets roll over, it's a lot different than what we saw today.

Today's red action, today's sell off in the market look, it wasn't even a sell off. Today was perfectly honest. 25 handles in the S and P is kind of a pebble in your shoe. Right? And so you need to understand that we've seen there are some stocks that are so powerful in their sector and in their index that they can actually contribute to the whole market going up or the whole market going down.

The reason Nvidia is the stock it is today may get impacted on the monopoly story, but for the most part, nothing fundamentally has changed. Stocks that got hit today that are not NVIDIA, that are not going up against the monopoly charge, this is the kind of day that is an opportunity when the baby got gets thrown out with the bathwater and stocks get sell sold off in an index or all over the market because of 1 particular stock and everybody starts dumping stuff, then that stock that you didn't wanna pay top dollar for is trading at a discount down $5, down $10. That's the time you have your shopping list. That's the time you see the opportunity. You should have a bell flashing, a light flashing in your house.

Ask yourself the question. I think like putting post its all over the place. The rules, right, about never turn a winning trade into a losing trade. Always having a plan when you get into a trade. Using technical analysis and risk management when you get into trades.

Always protect your downside risk, whether it's an investment or a trade. We've got plenty of wild cards. We've had quite a wild year, right, between the whole polarity around the election about you got 2 wars going on. You've got the whole thing in the Middle East and oil and all those things, yet the market has continued. Yet, Friday, 1 trading day ago, this market closed at record highs across every industry.

That is crazy. The S and P is up 27% for the year. The economic data that came out this for last Friday was spectacular. Now all that being said, we've got CPI, PPI this week. Very important flag, economic information that is the inflation target that basically the Fed will make its decision.

The wonder is, are we gonna trade the year? We are we gonna close out the year at record highs? I can't tell you. Market's gonna go up. Market's gonna go up.

I cannot tell you that for sure that's going to happen. But the market tells me on a day to day basis throughout all the things we've seen this year that there is so much money on the sidelines, people who haven't jumped in yet, who are jumping in. People are putting money to work. They don't wanna miss this boat. So many of them have missed the boat, whether it's in crypto, in equities, in the S and P, in tech.

Right? Because nobody ever wants to pay the high in all year, every day, every week, every month. This year, we've had 57 record closes this year. Imagine that. I don't know how many trading days there were in a year, but we've had 57 record closes this year on the in the new at the New York Stock Exchange.

Isn't that crazy? So it's like, I don't wanna pay the high, but I'm sitting around watching today's high, maybe tomorrow's low. Right? So look, there's always opportunity in markets. There's never a bad time to buy the market.

If you're thinking about a long term investment, disclaimer across the board, I'm not your adviser. I'm just trying to get you into the right mental state in psychology of learning how to trade and invest correctly, taking the emotion out of it. Your first trade, if you are making an investment in a company, do your homework. Check out the company, the the 4 p's, process, product, profitability, and the people. That's what makes a good company.

Right? I learned that from Marcus Lemonis. That's what makes a good company. Okay? But look into the company, and if nothing's fundamentally changed when the market pulls back and you don't you've been holding off on buying the stock because you didn't wanna pay record highs, have your shopping list and jump in there.

But make a determination how much you totally wanna invest in that company, and may your first dive into that company be your smallest. And then add on. If it goes up, add on going up. If it comes in, average into the stock. That's the only time you ever average into a stock.

Anyway, ladies and gentlemen, it's a beautiful day here even though the market sold off. These are days where it's it's fascinating to see how everyone talks about it, how other parts of the market sort of fall suit when we do sell off. We haven't had that many. I mean, literally, we've had 7, 8 at most. I would say we've got, you know, you can count them on 1 hand if you had 7 fingers.

How many times we've had any kind of consolidation sell off correction this year at all? And I don't even think we've had a correction. We surely haven't had a crash, but we've had a couple of pullbacks that a couple were significant. Right? But I've talked about it.

We had an April 7% pullback, normal after the best Q1 since 2019. May June, everybody talked recession, depression, all that stuff. That didn't happen. July, a little bit of a pullback. August 5th, the Black Monday crash in Japan.

That was a very complicated trade. I've told you all about it a 1000000 times. September, 1st week, the worst week for tech since COVID. The 2nd week of September, the best week for tech since COVID. I think that little scenario, that little tidbit basically describes this year.

That in September, the 1st week of September, it was the worst week for tech since COVID. That's a huge that's a mouthful of a statement. And then week 2 of September was the best week for tax since COVID. All in 1 week. You can have a completely bull markets used to take 10 years, generations to happen.

We can be in a bull market at 11 o'clock, and we can be a bear market in the end by the time the market closes. That's the way this market is. The accelerated pace, the news cycle, it's extraordinary. Anyway, I'm gonna wrap it up. I love you all.

It's a it's a great day to be alive. It's an amazing market. Wake up, find some kindness and gratitude in your life and your attitude. Right? And take seriously this market.

I need people to invest in stocks and not stop. I want you all to consider your life and your life's goals of portfolio and build it with with in a responsible, disciplined, consistent fashion. Anyway, I wish you all the best. I love it here. It's a beautiful day to be alive.

Bing bong, Shotzi. I'll see you later.

Hold on to your wallets. Money Rehab will be right back. You know, there was this 1 time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money.

We've all had that moment. Right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances with no monthly fees, no maintenance fees, and fee free overdraft up to $200 with Spot Meet.

Imagine overdrafting and not having to worry about fees piling up. Chime's got you covered. Plus, Chime isn't just a financial tool. It's a community. You can get boosts from friends to temporarily increase your Spot Meet limit, and when you help someone out with their own boost, they can return the favor.

Friends helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just 2 minutes at chime.com/mn. That's chime.com/mn as in money news network.

Chime feels like progress. Banking services and debit card provided by the Bancorp NA or Stride Bank NA, members FDIC. Spot me eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in Spot me and are subject to monthly limits. Terms and conditions apply.

Go to chime.com/disclosures for details. I love hosting on Airbnb. It's a great way to bring in some extra cash, But I totally get it that it might sound overwhelming to start or even too complicated if, say, you wanna put your summer home in Maine on Airbnb, but you live full time in San Francisco, and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co host network, which is a network of high quality local co hosts with Airbnb experience that can take care of your home and your guests.

Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co host, so I can still make that extra cash while also making it easy on myself. Find a co host at airbnb.com/host.

And now for some more money rehab.

Hey, everybody. Now that we've done the wrap up on what the heck's going on, episode 9,487, please stay tuned for 1 of my favorite interviews of the year from 2024. It's coming right at you. Hey, everybody. It's me the on center of Wall Street from the balcony of the New York Stock Exchange.

You know, I bring you food, finance, fashion, and I've never brought you real estate before, but today is something special. Okay? I'm here with Jade Schenker.

Schenker like Schenker.

Like Schenker. Like Schenker. You don't even need to think about it too much. Look. Let's go back probably 5, 10 years ago.

I'm sure you've all watched $1,000,000 Listings. I know I used to binge watch it with my son. Right? Ryan Serhan. Let's talk about it.

New York, real estate, retail, commercial. Anyway

Mhmm.

This wonderful lady who I recently met is a groundbreaking commercial real estate agent. Okay? But she's so much more than that. We're gonna let her tell her story. It's a human interest story in so many ways.

You know I love to tell let people tell their stories about how they got here, what it was like, what it's like now, and what the future looks for them. We're here on the floor of the New York Stock Exchange. There are thousands of companies here. Many of them are in the real estate space, whether it's REITs, real estate investment trust, whether it's huge companies that are commercial real estate companies and whatnot, but it's all about the deal. Right?

It's all about the deal, making a deal, making bids, making offers. That's what's exciting. That's what gets us up in the morning. We always tell you I always tell you to go out there and find something you love to do, get really good at it, and then you will never work a day in your life. And I think that's what we have here with my new friend, Jade.

Welcome.

Oh, my gosh. Well, thank you for having me. Okay. That that is the I think the 1 of the best intros I've ever had.

Thank you.

So thank you. And this is probably the coolest place I've ever been. I mean, just the the photos that you were showing me upstairs, I I feel so grateful, especially because women who weren't allowed to vote were here and

Correct.

And women who weren't even allowed to have cigarettes. Right? Is that right?

And think about it. So this building was built in 1903. They started trading outside this building in 16 50. Already in the 16 fifties, there were 26 brokers that used to trade commodities on the bottom of Manhattan. So Wall Street used to be there was a wall, and above the wall was just forest.

And that's where George Washington was inaugurated. But this is the heart of the financial district. You loved the deal, the art of the deal. So let's talk about it. Tell me a little bit about you.

Well, I am a commercial real estate agent, and I'm also in the reality TV space on a show called Owning Manhattan on Netflix with Ryan Serhant and a bunch of other real estate agents. And I'm the only commercial agent, and the reason that I got into it was because my family, I come from a long line of real estate developers and they've always been male, male, male. And I mean, since I was a teenager, all my dad taught me was there's always a way to get something done. Yeah.

So I

mean, I would I would cold call. You probably remember this, but The Village Voice before there was Craigslist, before there was any sort of, like, inventors.

Classifies in the back. There were

2 different things. Yes. And he used to have me go through The Village Voice to do for sale by owner and try to negotiate these deals when I was 14 years old. So I always saw an opportunity to these deals when I was 14 years old. So I always saw an opportunity to be like, okay.

Well, number 1, how do we get a deal done? Right. Right? How do we understand the other person on the side of the deal and what they need in order to get it done? So being a little bit more intuitive to that.

And then also, how do we take a building, especially in a market like right now, that it commercial's tough.

Yeah.

You know? Commercial is not at the place where it was in 2019 where, you know, everyone was leasing out office space. The world changed.

Think about WeWork. Yeah. Think about how that's changed. Think about how COVID changed all that, and the whole landscape of the real estate market

has changed. Yeah. Yeah. And coming from an owner's perspective, I've always been so frustrated because I'm like, well, you know, we have this building, we have these spaces, why aren't we marketing it in a way that's hitting people globally? That's actually getting people's attention.

So, you know, I saw Ryan Serhant's way of marketing and, you know, doing YouTube and videos and having events. And I was like, well, why aren't we taking this amazing residential approach?

Right.

And why aren't we bringing it to commercial? Because commercial is what? Like a 2 or $6,000,000,000,000 industry? Why has no 1 done that? And I was like, well, okay.

Let me try. And I mean, the the faces I used to get from other brokers, they're like, oh my gosh. What is she wearing? What is she doing? But I'm like, well, well, your opinion is is completely valid and I understand that, but you're talking about it.

Right? So Exactly. You're not talking about that other building.

There's no such thing as a bad review. If somebody's talking about what you're doing, then you're getting a point across.

Exactly. And and what I saw was the more people talked about something, the higher the SEO was on it and the shares. And you know what? It just takes 1 person. 1 person to be like, wow.

Okay. That girl who threw an event in that commercial space, that commercial space actually, you know, this person's looking for a commercial space. Can I connect her? Or you know what? I actually like that she brought a 130 people to come see this building.

Or her YouTube video hit 1,500,000 people between the United States, South Africa, Dubai, Israel. And, maybe she is onto something. And that's what I I kept on doing. And I was like, you know what? I'm just I'm gonna listen to my gut.

And I I know what I'm doing. And and I kept on doing that. And we were able to put a lot of buildings under contract at record, record prices. I mean, even like last year, I think the average price per square foot in Union Square was like 600 Anywhere between $46100 a square foot.

Right.

We sold a commercial condo for just under $1300 a square foot because we Just doubled. It's crazy. Yeah. You know? So I know that, you know, it's still early and people are still adopting this new way of marketing.

Is this a new way? So tell I need to ask. So look, I read about you. I was wanting to find out more about you, and there are obviously stories about your dad.

Mhmm.

Right? So tell me that. Give me a little I mean, you obviously are you do you have siblings?

No. I'm an only child.

You don't. You're an only child.

I'm an only child.

So are you are you the daughter that your father had that he really wanted you to get into the business he was in, but he wasn't sure if it was gonna be a business that a woman could break into? Yeah. Or were you the son that your father never had and it was a different thing? Well Tell me about that. I mean, I because we all are a function of our family.

Like my father, Eastern European Jews came to America after the Holocaust. I was gonna be the doctor that he went on to become. It just wasn't my calling. Tell me about that for you. Yeah.

And obviously growing up under your father's like, he was a real estate person.

Yeah. Yeah. Yeah. So same thing. My grandfather and my great grandfather, they they came here from Eastern Europe from the holocaust and they were very strict.

Were they in real estate?

They were in real estate.

They came here. They got in real estate. Yeah. So early early part of the century.

Early part. And then they they came here and my dad was like, you know what? There's something to lower Manhattans. And that was whenever East Village was like super like a misgusting. For a

100 for a $100. Yep. Yep. Exactly.

So he bought a lot of things on in the East Village, in Little Italy.

Albany and all that.

Right down the street on top street.

What year was that?

That was in the seventies.

In the seventies.

So he bought, like That

was just when people started buying things

like that. A block for half a $1,000,000.

Yep. You could.

And he he went against the grain from the the family because they're more conservative.

Right.

And back then, he was dealing with, you know, the the mafia. He he was dealing with artists who were shooting things. Like, it was just like crazy things.

You think about the Lower East Side in 19 seventies. That's Andy Warhol, Basquiat, drugs, you know, just, store fronts, building fronts.

Mhmm.

I used to be able to walk down Avenue A and there was literally there was just it was just rats. There was no nothing the buildings weren't even there anymore.

Yeah.

It was just facade and people and bums living behind it. Right? Yeah. It was crazy. And nobody had the vision.

Obviously, your dad did. Mhmm. Nobody if you asked anybody, we're not gonna touch this with a 10 foot pole. This is gonna be dead forever. There's no future to this neighborhood.

Mhmm. And if you think about it now, it's like, why didn't I think of that? I coulda, woulda, shoulda, like, that mentality. So your father did that. Yeah.

How amazing is that?

I mean, it was crazy, but his stories, I mean, dealing with dealing with people who weren't paying rent that that were gonna hit him with a baseball bat. Yeah. Dealing with that, you have to have chutzpah.

Yeah.

Huge. You know? Yeah.

So The Schenkers have chutzpah. Let's be clear about that.

You you have to have it. And he always wanted a boy. You know? I I think There you go. Yeah.

He always he always wanted a boy. That's okay. My family is is males, males, males, males, males, and you have to keep the family name as well. Yeah. And he had a girl.

And he was like, okay. Well, it's it's different. And and the way I was raised was okay. Because I'm an only child, he had to teach me the business because that's

Which is so great.

You know, you have to. But at the same time, it was always where, you know, Jade, you don't have to work and get married. And I I got married early.

You did. Okay.

I did. I got divorced early too. Yeah.

There you go. Give me 5 on that 1.

You know? And and it was. I mean, it's

1st in, 1st out. Let's go. LIFO, PIFO. That's the way to go.

I think it's it's honestly, it was a great learning experience. When you come to negotiate it, you know, I I turn my real estate brand on and I'm like, okay. Well, let's let's really discuss discuss how to get a deal done. Right. Whether it's that or separation, whatever it is.

But, you know, I think You

got out of that deal. I see. You got in, you got out. Let's move on. Let's go.

It's good. I have it under myself. Yeah. And, you know, I think at an early age, I was always just trying to be like, well, how do I how do I prove to my dad, like, I number 1, I know what I'm doing. Mhmm.

And I understand. I have a competitive advantage because I listen and and I'm creative.

Mhmm.

And I'm not afraid to take a risk. Like, I I actually, I seek risks. And I'm like, well, you know, if someone is doing something a certain way, there's always a way to to get better and do things differently. Yeah. And because I've I'm very confident in that space, I'm like, you know what?

What's needed? What what's needed on both sides? And I kind of saw spaces aren't being marketed to the capacity they can be. Right?

Commercial. For sure. Commercial. Yeah.

Specifically We think about that.

We know this. Sorry to interrupt you, but we think about think about the whole real estate market. Think about just residential real estate, how it's marketed. I'm sure everybody who's watching this has watched some kind of a real estate show whether it's a $1,000,000 listings in New York or out west. I mean, you stage an apartment, right, and you do it in a different way.

So residential is always way different than commercial.

Mhmm.

So you've taken the commercial thing to a whole another level. Yeah. I just wanna talk about your confidence for a minute because that's something risk, first of all, confidence another thing. These are things you can't really teach somebody.

No.

Right? I thrive on risk and I and it gives me confidence. That ability. I started here on Wall Street in 1985, some people say 18/85. Right, but that sense of the the adrenaline around this place, the excitement, the risk, right, the chaos, I thrived on that.

For me, that was where I found my energy, and I found my confidence. Yeah. Some people shy away from that. Some people need to wake up, have a coffee, read the paper before they do. Right?

You sound you seem to me like somebody more like me. You come out of the gate. You're like a thoroughbred horse just running for it because you just know what you want. Right? You found something you love to do.

Yeah. You'll never work a day in your life.

Oh my god. I like it. I always say it's like and you probably know it more than anyone. It's like, I I don't believe in work life balance. I believe in work life integration.

So integrating every aspect of your life Yep. Into into your work. And I love that's why whenever I met you, I was like, just I I felt so inspired because I was like, how

You're in the right place. This this place embraced you from the minute you walked in it because of those qualities that you have.

Yeah. I wanna have an impact and I wanna be able to touch people because, yes, there's the deal and and we think about, okay, you know, this is a building, this is someone trying to buy a building, but who are the people behind that deal? What do they need? You know, people don't realize and and they saw this at an early age and that's people's livelihoods. Whether it's a private equity firm and there's families or or if it's an owner who bought something back in the seventies who's, you know, now in his eighties and he he wants

a salad. Exactly.

You know? Like, those are things that really have such an impact on me. So, yes, it's a business savvy. It's the adrenaline of creating something and showing someone how they can make money from what 1 person sees as 4 walls or if you can convert that vision into a valuable asset and showcase what you can do in space. Get creative.

Like, that is what my serotonin, my dopamine is just like throws it off. I that's why I don't sleep. But at the same time

We're gonna work on that.

I know we are. But, like, there there is a beautiful emotional aspect to it where, like, I'm able to help people and and, you know So you're a humanist. I am

a little See, that's how I look at it. Yeah. Right? You're talking about the deal and the deal has a lot of all this chatter around it, but at the end of the day, it's 2 people talking about something. You and then you get the more you know about them, you sort of start to in the beginning of this interview Yeah.

About how you don't know where people are coming from or what this deal means to them. But the way to close the deal is about getting into where they're at on this deal and making connection to them. It's about trust, it's about confidence, and it's about them understanding that you're you have a vested interest in this being a good deal for everybody. Right? Yeah.

You're able to walk away from the deal and everybody's satisfied.

Yeah. Exactly. And and sometimes I feel like that and you probably know this more than anyone. Sometimes you just have to get creative.

You got to get creative. A 100%.

Like, not not every deal is cookie cutter and, like, it's not just sometimes the things that you see but the things you don't see and and listening and and understanding people and and being mindful of, okay, what what are the other factors in this? And and I feel like that's that's been something that I'm really cognizant of and and always trying to make measurable actions towards.

And you've done that. So tell me, so the way you're approaching commercial real estate is obviously gotten the attention of Ryan and obviously gotten attention of the industry. And so you have this show. Right? It's called It's

called The Odeon Manhattan on Netflix.

Okay. So talk to me about that.

Season 1 was wild and, you know, I was going through, like, a massive personal shift. I think it was really cool because, yes, people see the selling sunsets and they see the $1,000,000 listings, but, like, at the same time They've

seen your life too.

Yeah. They're seeing and and

It's a big thing.

All of our lives, it's it's commission, it's deals, it's no sleep. But there's personal aspects to it too. Like, what are people going through in life behind the deal?

Look, we you you have a social media platform Yeah. And you have a work platform, as do I. And it's not an easy thing to really open up Yeah. About people's lives and people's struggles. Right?

That's that's that makes you vulnerable.

Yeah.

But at the end of the day, being vulnerable in front of lots of people, it it gets across a different message. Right? And people are able to identify. Yeah. They're not comparing.

Oh, my god. She's beautiful. She's got this. Maybe she was given all these silver spoon, all that. No.

You're showing your vulnerability. You're showing that you're a human being going through having an experience. Yeah. And that makes you so much more attractive in that way. Yeah.

People will identify with your story. Yeah. People who have gone through what you're going through. Maybe you're going to inspire. I pretty much guarantee that on this show, you're going to inspire other people who've gone through things to know that they can get through that, that they can go on to find their dream job and find their dream career Mhmm.

And find something that moves them and motivates them to be able to be vulnerable, keep going, break barriers, and do all that stuff, irrespective of what's going on.

Yeah. Thank you so much. And and it's not every day that I get to meet people like you that truly, really I mean, going upstairs and and seeing just your involvement and and the history of what you've been through, like, that really touched I think I almost went in tears, like, seeing that room of just how many things have happened here and what you've been involved in and what you do. Because I think you're taking a different approach to what has been, you know, a traditional industry, and and you're making it interesting and making it fun and showcasing life.

Human. You know, it's a different that's how we get our message. It's a matter of telling your story. Mhmm. Right?

That's what I love to do. People will look at you and judge you and, you know, make comments or whatever it may be, but you don't get a point across and you don't really make impact Mhmm. Unless you tell your story and let people know who you are. Yep. That's that's the point.

We're here for not a long time. Right? But we're here for a good time. Yeah. You wanna get your message across.

Yeah. You wanna move people and impact people. Mhmm. It's not a matter of how many who dies with the most toys. It's a matter of how many lives you can impact Mhmm.

While you're here. Right?

Yeah.

It sounds to me that was probably your father's message, even your grandfather. Yeah. Right? Immigrants coming to America Yeah. Went out and found stuff.

They went up against it.

Mhmm.

You know, buying houses on the lower east side in the seventies. Everyone told them they were out of their mind. And think of it now. I mean, that's that visionary part of this is what's exciting. Yeah.

And you seem like you're a visionary in that way.

I love it. I mean, that that's why I'm here. You know? It's I there's an Australian saying, I didn't come here to fuck spiders. It means it means that I I didn't come here

to just mean?

It it means that I didn't come here just to be here. I didn't come here to just be another, you know, stick figure in the whole scheme of things. No. I came here to do something. I came here to inspire or to touch someone.

Motivate, create, motivate, and inspire.

Create, motivate, and inspire.

CMI. CMI. Okay. So what's the future?

What's the future look like?

What it looks like for you, for Jade. If I may you're 28 years old. You've done a lot for 28 years old.

Thank you.

Right? You're obviously in the commercial real estate business. You're working with the best people in the industry. Yeah. Right?

In a big way. You have this wonderful show. Yeah. You've been married. You've been divorced.

You have wonderful things to look forward to in the future. What's next?

I I hope to be able to focus on more trophy assets. You know, I love what I do now, but if I'm able to do that for a property that's, you know, in the 100,000,000, in the 200,000,000, like, that is so cool to me. And to be able to just It's not

the money though, Pardis. Focus. It's more than that.

Legacy? Yeah.

It's not

the same. I think I think, like, that's so important to me. At the end of the day, my dad's in his early 8 or mid eighties now. He had me when he was a little bit older. Right.

And he has dementia now, and and I just I to to go back home and see him and see the smile on his face whenever he sees all of that stuff, and he knows that I'm So he was aware of him.

He's super proud of you of all the things you've done in his industry? Yes. Has he?

Oh, my god. It it Yeah. Yeah. The smile on his face every time I tell him, like, dad, I sold a building.

Must be amazing.

He saw me on Netflix for the first time. Like, he

That's incredible.

She just started tearing. He he actually teared. There's 1 scene where a girl I I go to an event, and this girl goes she's like, you just came here to show off your stupid outfit. And he she chuckled. Because he's like, he knows me.

He's like, yeah, she did.

Exactly. Good. There you go. Check it out.

Me too.

Me, this is it. This is my cost my costume.

You know, my family name and and making miss him proud and and also a different type of asset. I would love the opportunity to to focus on those assets and try to strategize around that because I just think it's so fun and I have so much energy, and I just that would be the next the next step for me.

Awesome. Yeah. Well, you know what? Look. For me, I I come here and I bring people up to this balcony for them to tell their story, and the most important for for me is for them to motivate and inspire other people to be their best self, to find something they love to do, to go out there and and get other people to look.

We are living in this really kinda wild crazy world. Right? Obviously, you've had, you know, you've had some obstacles along the way. Think about this, you know, like COVID, post COVID. Right?

I mean, that really threw everybody. You were you were what? You were 23 years old. Right? So many people have have there's so many people who have gone through so much spiritually with mental illness, with a lot of a lot of obstacles in their lives over the last 5 years, and to be able to have the the the excitement that you have for what you do to have broken so many barriers in an industry that is right?

That's that is right? That's that's great. I I I Thank you. And you're disrupting the heck out of whatever you're doing. Yeah.

And look and you're coming out of it with a smile. So Yeah. I I'm really happy you're here with me and Thank you so much. Telling your story.

I appreciate it so much. Really. It's a pleasure.

And you're here on Wall Street. It's And really Wall Street's embracing you in a big way. Think about it.

This is so this is so surreal.

We started the conversation as no I'm a firm believer and I always tell young people who ask me about, you know, how do you get to the there's no door that you can't knock on. The worst that you're gonna get is somebody saying no. Mhmm. Right? We learn so much more from our failures than we do from our successes.

Yeah. It's not a matter of how many times you get knocked down. It's a matter of how many times you get back up and keep moving. Right? Yeah.

And I'm sure you've had that happen to you along the way. Yeah. And I love being told there's no way you're gonna succeed at that. You can't do that, and I love proving them wrong, and you've clearly proved

That is the best.

Everybody wrong. Jade Schenker kicking ass, taking names, I love you, and that's all I gotta say about that.

Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes. Do you need some money rehab?

And let's be honest, we all do. So email us your money questions, money rehab at money news network dot com to potentially have your questions answered on the show or even have a 1 on 1 intervention with me. And follow us on Instagram at money news and TikTok at money news network for exclusive video content. And lastly, thank you. No, seriously.

Thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make. I love hosting on Airbnb. It's a great way to bring in some extra cash. But I totally get it that it might sound overwhelming to start or even too complicated if, say, you wanna put your summer home in Maine on Airbnb, but you live full time in San Francisco, and you can't go to Maine every time you need to change sheets for your guests or something like that.

If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a cohost network, which is a network of high quality local cohosts with Airbnb experience that can take care of your home and your guests. Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it.

But I'm matching with a cohost, so I can still make that extra cash while also making it easy on myself. Find a cohost at airbnb.com/host.