Pod Insights The Moneywise Guys 5/23/25 Land, Legacy, and Long-Term Planning: A Talk with Tejon Ranch & Retirement Tips About this episode The Moneywise Radio Show and Podcast Friday, May 23rd BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www. MoneywiseGuys.com facebook: Moneywise_Wealth_Manageme instagram: MoneywiseWealthManagement Guest: Becca Bland, Director of Marketing for Tejon Ranch Company websites: https://tejonranch.com/ https://terravistatejon.com/
Transcript 0:00 Speaker 00 From the Garo Ellis padded radio room off Stockdale Highway, here is Money Wise. Call or text into the show 24/7 at 396-1000.
0:39 Speaker 00 Here is Money Wise. Money, money, money, money.
0:43 Speaker 01 That sounds different now, huh? Okay, we getting fancy over here. I like it.
0:49 Speaker 02 Welcome to the Friday edition of the Money Wise Show. Thank you Steve Z for bringing us in. Latroy, how you doing, man?
0:57 Speaker 01 Doing good, man.
0:57 Speaker 02 We haven't done a show together in quite a while.
1:00 Speaker 01 No, you know, I don't really care about seeing you, man. I want to see some football.
1:04 Speaker 02 Jeez, man, that was rough.
1:06 Speaker 01 I was just playing. I love you, Justin.
1:07 Speaker 02 Jeez.
1:11 Speaker 02 Shots fired. The Felix Mutual there, buddy.
1:15 Speaker 01 No, we're good. This is my guy right here.
1:17 Speaker 02 No, we're getting into, we're getting into business today. We have Becca Bland coming in from Tahoma Ranch. The new apartment complex that's going up there, what is it, Terra Vista? Yeah, that big community that's going in up there. Lot of, lot of good things going on at Tahoma, so we're going to get down to business with Becca when she comes in, in the next segment.
1:41 Speaker 02 Got to, got to say it, my Angels.
1:43 Speaker 00 Seven in a row. I just heard that from Kerr going into the show.
1:47 Speaker 01 Angels in an outfit.
1:48 Speaker 00 I was like, here we go.
1:49 Speaker 02 You know, swept the Dodgers at home, first time.
1:51 Speaker 01 You gotta bring that up, though, right?
1:52 Speaker 02 Dodgers been swept at home, first time since like 23 that they've been swept in a series by anybody, and they were swept by my lowly Angels. Artie sell the team.
2:03 Speaker 01 Well, just let the law of large numbers take his course.
2:05 Speaker 02 Yeah, exactly. They're still going to wind up finishing the season with damn near 100 losses, but hey, a man can dream, right?
2:12 Speaker 00 Maybe that's why they're winning. They just want that price to go up so the owner would sell it.
2:17 Speaker 01 If they go to Long Beach, that'd be nice.
2:19 Speaker 02 Artie's not going to.
2:20 Speaker 00 The Long Beach Angels?
2:21 Speaker 02 Yeah, Artie's not going to sell that team. He needs to.
2:25 Speaker 00 Well, before you guys get into the serious talk, I know one of you is a Packer fan. Mm-hmm. And I know Latroy is the big football guy. So what'd you guys think about that, the tush push? Not being banned? Or do you even matter? Cause I know the Packers were the big, the big push to, to ban it.
2:42 Speaker 02 I see what you did. I see what you did there.
2:44 Speaker 01 I'll let you go first, Justin.
2:46 Speaker 02 See? No, I think, uh, honestly, it's, um, I, I think it was a little bit like a crybaby thing. It's like, if you can't, if you can't stop it,
2:58 Speaker 02 you then.
2:59 Speaker 00 I mean, I understand both sides because I, I play defense and it, I think if the offense is able to push players and the defense should be able to push players.
3:07 Speaker 02 Yeah, right.
3:08 Speaker 00 But I mean, it's one of those things.
3:10 Speaker 02 If it was a, if it was a, a safety issue for players for, for injury or something, then.
3:16 Speaker 00 Which they tried to push.
3:17 Speaker 02 Which would be a different story.
3:18 Speaker 00 Is, is it gonna be where somebody's gonna have to drop and get hurt before they move it?
3:22 Speaker 02 Maybe.
3:24 Speaker 00 Because it is a rugby play.
3:25 Speaker 02 Yeah.
3:25 Speaker 00 And pre 2005, that play was illegal.
3:28 Speaker 02 Right.
3:29 Speaker 00 It's not something that's just new.
3:30 Speaker 02 Yeah.
3:31 Speaker 01 I don't understand the analogy though with Jeffrey Lurie, where he had to, where he went to.
3:35 Speaker 00 Oh, yeah.
3:35 Speaker 01 About, you know, I ain't gonna say, I ain't gonna say it on air, but I don't understand that. And then, and then the word, the name tush push.
3:41 Speaker 02 Yeah.
3:42 Speaker 01 To go along with that. It's just the, it's like kids arguing over.
3:45 Speaker 00 Exactly.
3:45 Speaker 01 I want my tussie roll pop where, you know.
3:47 Speaker 00 Exactly what it was.
3:48 Speaker 01 Yeah.
3:49 Speaker 00 I, you know, I just wanted to hear. I know you guys are both football guys, so I can't usually bring it up.
3:53 Speaker 02 It is funny though that, you know, we're talking about the, the, it's basically a rugby play, but in rugby, they have that and they've been doing it for that long. And there's injuries, don't get me wrong, but nobody wears pads in rugby. The only people that wear pads are the referees and the spectators.
4:08 Speaker 00 Yeah.
4:09 Speaker 02 The players don't.
4:10 Speaker 01 I mean, I don't, how many times then did they ever break down the statistics of how many times they were successfully, you know, getting these first downs off a tush push?
4:19 Speaker 02 Quite a bit, quite a bit more. It's pretty high.
4:22 Speaker 01 It's like 80% strike rate?
4:24 Speaker 02 Yeah, it's like 70, 75% strike rate. Yeah.
4:26 Speaker 01 So it's a cheat code, basically.
4:27 Speaker 02 Pretty much. Well, if you're, if you're within, you know, if it's fourth and one and a half.
4:32 Speaker 01 Good for you. You got it.
4:33 Speaker 02 You've got a pretty good chance of making it.
4:34 Speaker 00 Yeah, just like a quarterback sneak.
4:36 Speaker 01 Hey, there's some teams that can't even get fourth and one.
4:38 Speaker 00 Exactly.
4:39 Speaker 02 My Packers couldn't. Remember that? Remember that one play? Love was trying to get that, that, that quarterback sneak?
4:45 Speaker 00 Well, it's funny you say that because the Packers, by stats, were the second highest team to use it.
4:50 Speaker 02 Yeah.
4:51 Speaker 00 So I'm like, okay. But I, I think, I mean, the old school listeners or the old school football players are like, go ahead, man. Just do it.
4:57 Speaker 01 Yeah, I don't care about it. It don't affect me one bit. I don't really care about it, man.
5:01 Speaker 00 Stop them on first, second, and third.
5:03 Speaker 01 Now, if they, now, if they start doing it like every play and football turns into like rugby, then we got a huge problem.
5:10 Speaker 00 That was what Kelsey said at the meeting. He said, I just want to unretire just to play it 60 times to shut you guys up.
5:17 Speaker 02 Well, it's one of those things where like if, if the average was, if you were going to do that, the brotherly shove, as they call it in Philly, right? We're not going to call it the tush push. We're going to call it the brotherly shove. And if you can average three yards a play on that play.
5:31 Speaker 00 Then you could do it.
5:32 Speaker 02 You could just do that. Then it's going to be the world's boring, most boring game. You're going to play, you're going to play like army or navy.
5:41 Speaker 02 You're just going to.
5:42 Speaker 00 You guys are throwing shots today.
5:44 Speaker 01 What if, but what if they, so a fair rule will be, okay. Well, I guess a team will know when they in that formation that they, they're going to do it. So it wouldn't matter if they told them like, hey, we about to do tush push. You get your best personnel out there or whatnot.
5:59 Speaker 00 Just like a goal line.
6:00 Speaker 01 Yeah.
6:01 Speaker 02 So we're going to do what we get to do. We're going to get down to the markets. Well, Troy, what, what happened this week, man?
6:08 Speaker 01 It was a, it was a down. It was a key word. You just said that. You said get down to the market. The market's been down, down, down.
6:14 Speaker 00 Baby, are you down, down, down, down, down, down?
6:18 Speaker 02 Yeah, it's down. No, it was, it's, you know, each of the indices this week were down about two and a half percent.
6:27 Speaker 01 Started after a big winning streak though, you know?
6:30 Speaker 02 Yeah, and we expect these things when the, when the, what was it? The S and P had like seven days in a row of positive gains last couple of weeks.
6:39 Speaker 01 Yep.
6:40 Speaker 02 Yeah, there's gonna be a pullback when that happens. And so, you know, um, don't let the, I guess, the tariff conversation that happened again here on this week, Wednesday, Thursday, Friday, to kind of spook the market again. Um, and it caused the markets to kind of shutter. And so you have the Dow, the NASDAQ and the S and P 500 all down in excess of 2% for the week.
7:03 Speaker 01 Yeah.
7:04 Speaker 02 Um, now,
7:07 Speaker 02 are we in the same boat that we've always been in a little bit where it's like we announce these tariffs and then it's the boy who cried wolf, you know, push comes to shove, we get to the end of the, and June 1st rolls around and it's like, eh, psych, didn't mean it.
7:22 Speaker 01 Yeah.
7:23 Speaker 02 You know, um, I don't know. It just, uh, it's an interesting.
7:27 Speaker 01 Well, there's a, what I've read, you know, cause I, cause I, you know, look into currencies and all that stuff. And so what I've read is that, you know, a lot of people are, right now, like the numbers aren't really showing the impact of just those little increases that took place or whatnot.
7:41 Speaker 02 Yeah.
7:42 Speaker 01 And there, people are kind of like, okay, what quarter are we going to see this really, this impact when the, you know, CPI numbers and all kinds of different numbers come out?
7:51 Speaker 02 Right.
7:52 Speaker 01 Then what's that, what is that going to look like? You know, cause we just had a negative GDP quarter.
7:57 Speaker 02 Yeah. And I think they revised it. So it was a little bit more of like flat. It wasn't like a negative point three. I think they came in at like positive point one or something like that. But either way, it was definitely flat or down, uh, for the quarter. Um, who knows what it's going to wind up doing for the second quarter. Uh, that, that's kind of what I'm really paying attention to. Cause the first quarter, a lot of that was generated because of the tariff talks that were happening. Many companies were.
8:28 Speaker 02 Basic or people were pre buying a lot of things to try and beat the tariffs. Right? Buy all of this stuff before the tariffs hit. And so a lot of that GDP was being pulled forward.
8:42 Speaker 01 Okay.
8:43 Speaker 02 Right? Yeah. And so it, you know, did we really have a negative GDP in the first quarter or not? Is is kind of the thought is like, well, we really kind of were pulling a lot of that purchasing forward in the fourth quarter of last year, or maybe in January, but really, in essence, we were pulling a lot of that. But those orders forward. So that's kind of.
9:06 Speaker 01 Talk about a tariff attack.
9:08 Speaker 02 Yeah, you know, and it's like, you know, it is what it is, but. Got some news here that Elon Musk says he totally plans on sticking around for five more years. He's going to lead Tesla for five more years. Uh, so that's great news for anybody that thought the company didn't already have enough side quests. Messiah Energy or stock price mood swings.
9:30 Speaker 01 What's Tesla doing right now? You bring up Elon now, I want to see what Tesla.
9:33 Speaker 02 Yeah, see, go ahead and look that up.
9:35 Speaker 01 Is it making a run?
9:36 Speaker 02 Man, probably not after this week.
9:38 Speaker 01 Oh, oh, it kind of jumped up there.
9:41 Speaker 02 It did.
9:41 Speaker 01 Let me see, is it in positive territory for the year? Nope, still down.
9:44 Speaker 02 Still down for the year.
9:45 Speaker 01 Still down for the year. But this is creeping back up.
9:48 Speaker 02 Creeping back up. Well, that's what happens when, you know, there's that big push to put to pull it down and everybody kind of goes in there. It's like a contrarian investor says, hey, hey, it's down 60%.
9:59 Speaker 01 I might, uh. The crystal ballers.
10:01 Speaker 02 Yeah, right.
10:02 Speaker 01 Oh.
10:04 Speaker 02 Here's some other news in the in the news. Levi's.
10:09 Speaker 01 Levi jeans?
10:09 Speaker 02 Levi jeans. They're selling Dockers, uh, $311 million. They're selling the brand Dockers.
10:19 Speaker 02 Which is interesting. I find that kind of wild. It's kind of interesting. I thought Dockers were already in the clearance bin next to fax machines and flip phones.
10:28 Speaker 02 Dressing middle managers since 1990. Uh, Dockers, uh, being sold by Levi's. Um, good luck, anybody that wants to go out there and buy Dockers.
10:39 Speaker 01 That's that, uh, I'm gonna, I'm gonna have a job interview. Last minute buy, purchase the Dockers.
10:45 Speaker 02 Yeah, I'm gonna, I'm gonna run by Old Navy, make sure I get my Dockers. Right, Steve Z?
10:51 Speaker 00 Yes. You see how much money that was?
10:55 Speaker 02 311.
10:55 Speaker 00 Woo.
10:56 Speaker 01 So.
10:58 Speaker 02 But, I mean. Honestly, for a brand of that name recognition, I, I don't think that's enough. I don't think that that's a very high number, right?
11:09 Speaker 02 I, I just.
11:11 Speaker 00 It's not the 80s anymore.
11:12 Speaker 02 No, what I'm saying is, no, it isn't the 80s. It's not the 90s, right? You're, you know.
11:16 Speaker 00 I don't know, anyone that's wearing Levi's or.
11:17 Speaker 02 Yeah, nobody's wearing those cargo shorts anymore, right? Uh. You know, khakis have been out for the last 20 years.
11:26 Speaker 00 Um, but I know that, that it's got a long history. I mean, that, that's a lot of money.
11:32 Speaker 02 But you're right, it's a lot of money, but I'm, I'm looking at it in context of.
11:37 Speaker 00 Like other.
11:38 Speaker 02 Right, other brands or other, you know, if we're on, we're on ESPN. That's selling for less than Mike Trout's contract.
11:46 Speaker 00 A lot of things are.
11:48 Speaker 02 So, I mean.
11:49 Speaker 00 Brock Purdy.
11:50 Speaker 02 Yeah, so, I mean, think, it's not that much money when it comes to a multinational, global corporation like Levi's.
11:58 Speaker 01 So Levi's own Dockers.
12:00 Speaker 02 Right.
12:00 Speaker 01 And now they're selling it.
12:01 Speaker 02 They're spinning them off, getting rid of them.
12:02 Speaker 01 Get rid of them.
12:03 Speaker 02 So, I just found it interesting when I saw that number, I was like.
12:08 Speaker 02 It's kind of struck me as low. It seemed a little low to me. I was like, wow.
12:12 Speaker 00 I mean, these days, these big businesses are dropping like flies, so. I, I guess.
12:17 Speaker 02 Yeah, I guess, I just.
12:18 Speaker 00 Weren't they a part of the, uh, the 49ers stadium for a while too?
12:23 Speaker 01 Levi's Stadium.
12:24 Speaker 02 Levi's Stadium?
12:25 Speaker 00 Yeah. They got money. But yeah, I mean, if they're only selling a part.
12:30 Speaker 01 Yeah, they're not selling Dockers, that's it. They're not selling their brand.
12:33 Speaker 00 Chump change, they're like, okay, we'll make something else.
12:36 Speaker 01 Yeah. Levi's will always be a big brand like Coca-Cola.
12:39 Speaker 02 Well, I'm reading it right now, so the revenue contribution from Dockers. So Dockers being owned by Levi Strauss.
12:47 Speaker 02 Dockers only basically amounted for about 5% of their total revenue for the past five years.
12:52 Speaker 00 So you guys are the math guys. How much is that?
12:55 Speaker 02 Without looking at Levi's actual, you know, accounting and everything else.
13:02 Speaker 00 So 311 is 5%?
13:04 Speaker 02 Yeah, it was a $1.5 billion company or so.
13:07 Speaker 00 That's why it sounded low to you.
13:08 Speaker 02 Yeah.
13:09 Speaker 00 Doesn't Levi own Guess?
13:11 Speaker 02 Uh, don't think so. Levi Strauss says they're gonna take $100 million of the proceeds for that and do a share buyback. Which means that they're gonna artificially increase the price of their stock.
13:25 Speaker 02 So.
13:27 Speaker 02 Interesting.
13:27 Speaker 00 They owned Dockers, Denizen, Beyond Yoga.
13:32 Speaker 02 Yeah.
13:32 Speaker 00 But not Guess.
13:33 Speaker 02 They don't own Guess.
13:34 Speaker 00 But they, they own, I mean, that was only a small percent, which is crazy. If 5% is 311, yeah, you're probably right.
13:42 Speaker 02 Yeah.
13:42 Speaker 00 That's why it sounded low.
13:43 Speaker 02 It's, that's what, it just sounded low to me. 311 sounded a little on the low side for me, but whatever.
13:49 Speaker 00 You can go buy Dockers at Walmart. And Target.
13:53 Speaker 02 And Target.
13:54 Speaker 00 Yes.
13:55 Speaker 02 You can get the Target brand.
13:57 Speaker 00 It's my go-to place is right there.
13:59 Speaker 02 Well, I mean, well, I, that's a good point. If, if Dockers are not gonna be there anymore, what are the Target employees gonna wear?
14:08 Speaker 00 Man, you guys are on fire today. I think the last time I wore Dockers was my eighth grade graduation.
14:18 Speaker 02 Oh goodness. All right, we're gonna take a break. We're gonna be right back with Becca Bland from the.
14:23 Speaker 00 You guys be nice with her.
14:24 Speaker 02 We're gonna try. We'll be nice.
14:26 Speaker 00 Are we being bad right now? Need to get your financial fix on the go? If so, subscribe to the Money Wise Podcast and catch up on all past shows.
14:43 Speaker 01 That's the market today.
14:48 Speaker 01 Look what I started.
14:51 Speaker 02 I, I am continuously impressed by Steven and his ability to just pull.
14:57 Speaker 00 That's all the joy.
14:59 Speaker 02 Just from a, just from a simple conversation, he's able to pull the.
15:03 Speaker 01 It's my fault because I started singing this.
15:04 Speaker 02 Oh, I know you did.
15:05 Speaker 00 Lucky for him, I had to ditch Slipknot, so he's good.
15:11 Speaker 02 Oh, man. Anyhow, we're getting down to business today. It is Friday. We're getting ready for a three day weekend. We're, we're, uh, we're a little bit jumpy today.
15:22 Speaker 01 It's Friday.
15:23 Speaker 02 We're cracking some jokes. We're having some fun.
15:25 Speaker 01 Football season's around the corner.
15:26 Speaker 02 Baseball season's in high, uh, high, high drive.
15:30 Speaker 01 For the Angels?
15:31 Speaker 02 Yes, for the Angels, uh, NHL playoffs, NBA playoffs, Stanley Cup playoffs going on right now.
15:37 Speaker 01 The Tahoma outlets?
15:38 Speaker 02 The Tahoma outlets down the street from us. Getting down to business.
15:45 Speaker 02 Absolutely. We're joined here today by Becca Bland. She is the Director of Marketing for Tahoma Ranch. And lots of wonderful things going on down at Tahoma.
15:59 Speaker 02 As everybody, you know, when you're driving down to Long Beach or you're driving to go to Angel Stadium to watch an Angel game. And you're driving through this massive expanse of, of beautiful land.
16:14 Speaker 02 How much of that is Tahoma Ranch? A lot of it. A lot of it. Right? Becca, thank you for joining us today.
16:23 Speaker 03 I am so glad to be here. Thanks for having me.
16:25 Speaker 02 Absolutely. So. We got a lot of things going on down there. So let's talk really quickly. The, the first thing is. There's new apartments that are actually going on down there. Terra Vista, right?
16:39 Speaker 03 Terra Vista at Tahoma.
16:40 Speaker 02 Yes. When do they open?
16:42 Speaker 03 They have been open for a few weeks now.
16:44 Speaker 02 Really?
16:45 Speaker 03 Fully open. We have tenants moved in. It is so exciting.
16:49 Speaker 02 Nice. How many units?
16:51 Speaker 03 Right now, we will be having up to 84.
16:55 Speaker 02 Okay.
16:56 Speaker 03 Um, first phase is going to be 282.
16:59 Speaker 02 Okay.
16:59 Speaker 03 The entire project is going to be up to 495 units.
17:04 Speaker 02 Holy cow.
17:05 Speaker 03 Really big, really big.
17:07 Speaker 02 Now.
17:09 Speaker 02 Let's just break it down though. I mean, this is, this is down, obviously, near the, the connector to the 99 and the 5, right? It's Tohone Ranch. What does this development really mean for not just the area here, Bakersfield, but the, Tohone Ranch area, La Beque, the, the community at large in the southern San Joaquin Valley?
17:32 Speaker 03 We are so excited. So this is Tohone Ranch's first residential project. We have four. So we have Mountain Village, Centennial, and Grapevine. And we're working on funding for those projects. But right now, Terra Vista is here and now, our very first residential project. And we're so excited. Originally, this whole project really had the Tohone Ranch Commerce Centers workers in mind. So those people are at IKEA, Dollar General, any of the restaurants outside Tohone. We wanted to give them an option to, hey, you don't have to commute anymore. Why don't you just, you can either walk to work, or just a very short two-minute drive.
18:10 Speaker 02 Right.
18:10 Speaker 03 The response has been amazing. We are truly building, that is the start of a huge community come. Think about, it could be the next Temecula, the next Valencia.
18:20 Speaker 02 I'll say that.
18:21 Speaker 03 It's gonna be amazing. And this is the start of it. So when we started getting the interest, we were really excited by what we were seeing. We knew people from Bakersfield would be excited.
18:32 Speaker 02 Yeah.
18:32 Speaker 03 We knew the mountain communities, Fraser would be excited.
18:34 Speaker 02 Right.
18:35 Speaker 03 We're getting people from LA, from Fraser Mountain, for sure, from Sacramento, even from Arizona. It is wild. Yes. So crazy.
18:46 Speaker 02 Well, because I've, I've known for a while that there's people that live here in Bakersfield that do that super commute and go down to LA and will do that commute.
18:56 Speaker 03 I did it for a few years. I used to work in Pasadena and I lived in Bakersfield.
18:59 Speaker 02 Yeah.
19:00 Speaker 03 And it was brutal, brutal.
19:01 Speaker 02 Yeah. It's not, trust me, that is not an easy drive to make that drive every day. But there's the super commuters that would do that, would live in the southern part of Bakersfield and, or, you know, southwest or southeast or whatever, they'd be living and then they would have to drive down to 99 and be on, on the road for three hours each direction.
19:20 Speaker 03 Yeah, easily. And if there's, if there's any accidents, four hours plus.
19:24 Speaker 02 Yeah. And if there's snow and you can't get to work, well, guess what? I'm not getting to work. Well, now...
19:31 Speaker 02 Because of the community that's already there as far as the logistics there Ikea, Famous Footwear, all of the on-spec kind of distribution centers and everything that's down there, you now have a community that can be able to, you know, house those workers that are there. So now those workers are not necessarily having to commute unless they want to. I mean, you know, those folks will not have to commute as far. That takes an hour, you know, it's a half an hour to get down there and a half an hour to get back here. So yeah, we're helping those people out. That's really awesome. Now, what sets this community apart from other apartment complexes?
20:14 Speaker 03 All right. Number one, if you haven't visited, the amenities are gorgeous. It is very much resort style. So think resort style pool with cabanas. We have gorgeous fire tables. We have barbecues. We'll have a dog park. We have a place called The Green, which is a giant green area that is right in the middle of the, it's gonna be in the middle of the outlets and terraces. So it's gonna be a shared space.
20:39 Speaker 02 Oh, okay.
20:40 Speaker 03 Great for events. We just had our grand opening last week there and it was beautiful. So amenities are nothing like anything you've seen in Bakersfield. Number two is the community. So a lot of these apartment complexes, you know, will accept a check, will make sure your faucet is not leaking and call it a day.
20:58 Speaker 02 Yeah.
20:59 Speaker 03 We're really pushing the community apart. So we'll have at least two community events for our residents, whether it's a trivia night with some wine and beer, or we noticed a lot of our current tenants really like to decorate their outdoor spaces. So we're having a succulent and coffee meetup in the next few weeks on a Saturday.
21:17 Speaker 02 Nice.
21:18 Speaker 03 So we really want to cultivate that community. So people stay and they have a higher quality of life. And that's not like anything that you're seeing right now in Bakersfield.
21:26 Speaker 01 Well, sneak over there and give, can I rent me a cabana for?
21:28 Speaker 03 Oh, absolutely. Come on by.
21:31 Speaker 02 So question I have for you, though, is that obviously Tahoma Ranch has its own vision, notwithstanding the apartments and the industrial piece of what the ranch is doing there. But they also have these covenants as far as land use and making sure that they're good stewards of the land. And how does this fit in with that? Because looking at the mockups in the apartment, it's beautiful. Like you said, the green space and everything. Talk to me a little bit about how the culture of Tahoma Ranch was really brought into the apartments and this complex as it stands right now.
22:15 Speaker 03 Yeah, every project that Tahoma has really has sustainability in mind and taking care of what we have. So specifically for the apartments, we do have, oh my goodness, I'm blanking on the number, 28 EV chargers.
22:28 Speaker 02 Okay.
22:29 Speaker 03 We'll have solar as well, water usage, we have recycled water. So that's specifically for Terra Vista. And then outlets at Tahoma has its own initiatives. And then TRCC has its own initiative. So Terra Vista is also part of the grander vision as far as stewardship.
22:48 Speaker 02 So obviously, I mean, Tahoma Ranch has been around for what, 180 years?
22:53 Speaker 03 182.
22:56 Speaker 02 That's a long time.
22:59 Speaker 02 And so, I mean, the guiding question has always been, is this good for the land?
23:03 Speaker 03 Right.
23:04 Speaker 02 Right. And so by doing these things and making sure that it's, you know, yes, we're we're bringing people to live and work and play in our own backyard, like near where they work.
23:20 Speaker 02 And we're building a community for them that they can actually, you know. Raise a family, you know, whatever. And this is going to become a new, you know, it's, it's maybe not a full-fledged city of its own, but pretty darn close.
23:35 Speaker 03 It's definitely the start. And you asked, you know, when you're driving and how much Tohone Ranch do you see? Tohone Ranch is 270,000 acres.
23:44 Speaker 02 Larger than the state of Rhode Island, I believe. It's like monstrous.
23:47 Speaker 03 And what people don't know is we have made a commitment to not develop on 90% of that land. We are only developing on 10%. So, and that's going to be housing and California, we need housing. So I, I love what we are doing, the vision that we are moving towards. And yeah, creating houses, creating communities for better Kern County, better California. It's exciting to see what Tohone Ranch is doing.
24:16 Speaker 02 So then what's, what's next? You said that this is the first phase, right? And we have, I can't remember what you said. It was like, how many units right now?
24:24 Speaker 03 Right now is 84.
24:26 Speaker 02 84 units.
24:27 Speaker 03 And then we're going to go into 282 and then 495.
24:30 Speaker 02 Okay. What's next for, we're going to take a quick break, but when we get back, I want to talk to you about what's next for Tohone and what are the next phases and the other locations that might be coming on online before too long. Uh, when we come back with Becca Bland.
24:49 Speaker 00 If you're a business owner who provides a retirement plan for your employees, contact Money Wise Wealth Management to see if you're maximizing your options and minimizing your liabilities. Money Wise 401k plans are customized to you and your company's needs. 661-847-1000. That's 661-847-1000.
25:24 Speaker 02 Welcome back.
25:29 Speaker 02 Welcome back to the Money Wise Show. I'm your host, Justin Leland, here with Latroy Dinkins. Getting ready for a long weekend.
25:40 Speaker 00 They go by quick, though.
25:41 Speaker 02 They do go by quick. There'll be a lot of driving this weekend.
25:45 Speaker 00 Yes. Where are you guys going?
25:47 Speaker 01 I've got a family reunion in Long Beach.
25:48 Speaker 00 Nice.
25:50 Speaker 02 Yeah, we're taking the, we're taking the kids. We're gonna go hiking. We're gonna go up to Horseshoe Meadows, just south of Mount Whitney. We're gonna go, go for a day, go for a day up there.
25:58 Speaker 00 Becca, you staying in town?
26:00 Speaker 03 I'm actually headed to Long Beach, too.
26:02 Speaker 00 Yeah. See, I'm the only one staying home. I'm like, go ahead. You guys drive crazy.
26:05 Speaker 01 I was about to say, we need, we needed elements. We got Justin over here with land. I got water. Becca got water.
26:11 Speaker 02 Yeah.
26:12 Speaker 01 Steve, you messed this, you messed the rotation up, man.
26:14 Speaker 00 That's what I do.
26:14 Speaker 02 Yep.
26:16 Speaker 00 I'm gonna barbecue. I've got family coming over and it's perfect time. There's good basketball, good hockey.
26:21 Speaker 02 Yeah.
26:22 Speaker 00 Baseball doesn't really start for me until after the All-Stars, so.
26:25 Speaker 02 Yeah, yeah. July is pretty much when it starts.
26:28 Speaker 00 Yep.
26:29 Speaker 02 Pretty much.
26:29 Speaker 00 But this is probably one of the last weekends we get before triple digits, so enjoy it.
26:34 Speaker 02 Yeah, it's gonna be smoking hot after this, so get used to it.
26:40 Speaker 02 We're getting down to business here with Tahone Ranch, Director of Marketing for Tahone Ranch Company, Becca Bland, talking about all things Tahone Ranch and specifically about
26:52 Speaker 02 the master plan communities that are going in down at the Grapevine, down, down at Tahone Ranch, at the base of the, at the base of the hill. So we've been talking about Terra Vista. That's the first phase. We've got the first phase done. There's a couple more phases. You're gonna have a total of, you know, almost 500 units, right?
27:12 Speaker 02 What's next? What's the next, what's the next iteration? What is, what is going on with Tahone? To build out that community. We were talking off air and I had mentioned how whenever I drive down I-599 and we're going down that way, we see all of the distribution centers and there's more and more that are being built as, as time goes on. And LaTroy and I looked at each other, we're like, you know, it reminds us of the inland empire.
27:43 Speaker 01 Yeah.
27:44 Speaker 02 Of Ontario Riverside.
27:47 Speaker 01 Yep.
27:48 Speaker 02 Inland Empire, I-10, from like 30, 35 years ago.
27:52 Speaker 01 Yeah.
27:52 Speaker 03 Yeah.
27:53 Speaker 02 Right? And the one thing that I think those communities didn't do a good enough job of was
28:04 Speaker 02 recognizing how much traffic was going to be impacted by how much they grew out with the distribution centers that they built.
28:12 Speaker 03 Mm-hmm.
28:12 Speaker 02 Right? Now, the good news is we can learn from that, right?
28:18 Speaker 03 Right.
28:19 Speaker 02 And so what is, what is Tohone Ranch doing and, you know, obviously building out those distribution centers, IKEA and those famous footwear and all that, and building out these planned communities for workers and people to live in the area where they work? What is going to be kind of the traffic kind of ideas, you know?
28:42 Speaker 03 I can't speak too much on traffic because that is not my expertise.
28:45 Speaker 02 Yeah.
28:45 Speaker 03 But that is something that, that we do talk about when it comes to what is next and what is next specifically for that area Tohone Ranch Commerce Center is definitely there's more room for more distribution centers, for more restaurants, different eating options. So there's more room for that. As far as housing goes, we, Tohone Ranch is committed to seeing the master plans through.
29:10 Speaker 02 Right.
29:10 Speaker 03 So that, that is, that is also, we're hoping also moving along as well.
29:15 Speaker 02 Right.
29:16 Speaker 03 I see specifically for Terra Vista is that can be a starting point. You have a married couple with a new baby at Terra Vista. Well, later on, when more housing comes along, I can see them almost graduating to, hey, I, I want to not only run, I want to actually purchase a home, which would be an option. What, whatever lifestyle they want. Grapevine is going to be very agricultural centered.
29:43 Speaker 02 Mm-hmm.
29:43 Speaker 03 Uh, Mountain Village is resort style, so they'll be. Hotels, you know, million dollar homes, all kinds of activities at Mountain Village. And then Centennial, I think is a little bit even more eco-friendly, completely electric community.
29:57 Speaker 02 Really?
29:57 Speaker 03 So that, that's gonna give people options as far as, you know, what is your vibe? Where do you want to live? Um, that's the next, I, I can't even put a timeline on, but I do see Tohone Ranch, that is a commitment for them. Um, so that's kind of what's on the horizon.
30:13 Speaker 02 That's awesome. And so, speaking as well as like amenities for people living in the area, you were mentioning about a young family with a small child, schools.
30:25 Speaker 03 Yeah.
30:25 Speaker 02 What, what's going on with that whole situation? Is there gonna be, you know, schools, elementary, junior high, high school? Are they gonna be bussed in? How's that gonna work?
30:33 Speaker 03 Well, with the master plans, there are schools planned in the master plans. Right now for Terris specifically, is we do have a bus stop available. When it comes to elementary, it'll be General Shafto. Uh, when it comes to high school though, right now we are at Ridge U. That's kind of where we're at, but there is options when it comes to schools.
30:51 Speaker 02 Okay. Gotcha, okay. But that, when the master plan's fully developed, that there will be schools on site.
30:58 Speaker 03 There will be schools.
30:59 Speaker 02 Awesome, awesome. Um, awesome. Well, thank you so much for joining us today. It's been, uh, really informative. I actually love the thought of having these master plan communities nearer to where people are gonna be working. It's really gonna be helpful for, for folks and, um, actually reduce the traffic on I-599 for, for those of us driving, uh, driving down the road.
31:21 Speaker 00 Watch, in ten years, it's all gonna be connected soon.
31:23 Speaker 02 You know what?
31:24 Speaker 00 And there's nothing wrong with Ridge U. I graduated from Ridge U.
31:26 Speaker 02 Well, there's, there's something wrong with it.
31:29 Speaker 00 Hey, and Dustin, and Dustin.
31:31 Speaker 02 And Dustin. All right. Well, we're gonna take a quick break. We'll come back and we'll, uh, we'll take you into the weekend.
31:37 Speaker 00 Have you been putting off your finances? Seize the day. Call the Money Wise office at 661-847-1000, or email [email protected] for more information.
32:09 Speaker 02 Man.
32:11 Speaker 00 Last time I wore Levi's.
32:13 Speaker 02 The, the Dockers?
32:14 Speaker 00 When this came out.
32:15 Speaker 02 Oh my goodness.
32:19 Speaker 01 Hey, happy Friday, y'all.
32:20 Speaker 02 It's getting to the 90's.
32:22 Speaker 01 Hundred percent.
32:24 Speaker 02 Wow.
32:26 Speaker 02 Oatmeal lumpy.
32:29 Speaker 01 Hey, you know what, I want to announce something here real quick.
32:32 Speaker 00 Uh oh.
32:33 Speaker 02 Uh oh.
32:33 Speaker 01 No.
32:33 Speaker 02 Get ready for that dump button there.
32:35 Speaker 00 You never know.
32:35 Speaker 02 Get close.
32:36 Speaker 01 Hey, well, you know, our partners across the street, CSUB.
32:39 Speaker 00 Yeah.
32:39 Speaker 01 One of our favorites, Ari Weidman.
32:42 Speaker 02 Yeah, she's great.
32:42 Speaker 01 There is going to be a Bakersfield basketball camp, and the dates are June 16th through 19th. It's a kids camp from 9 a.m. to 4 p.m. And then we got another one on June 23rd through the 25th, little dribblers from 9 a.m. to 12 p.m. You can get all these, uh, this information if you go to F H A F O K A at C S U B dot E D U. That's F H A F O K A at C S U B dot E D U. And you can claim your spot today and visit W W W dot C S U B camps, um, dash W B B dot com, uh, forward slash shop dot events.
33:23 Speaker 00 Or just look at the podcast.
33:23 Speaker 01 Or just look at the podcast.
33:25 Speaker 00 I'll find it.
33:25 Speaker 02 Yeah.
33:26 Speaker 00 And I'll, I'll, I'll reach out to Coach, because we gotta get her back on.
33:29 Speaker 01 Yeah, we gotta get her back on the show.
33:30 Speaker 02 She's, she's awesome.
33:30 Speaker 01 Yeah.
33:31 Speaker 02 Get her on, and we can talk about the, uh, the, the camp before June 16th.
33:35 Speaker 00 And her pulling her first win since last time.
33:38 Speaker 02 Yeah.
33:38 Speaker 00 You know, it's, it's been, uh, it's been a busy, we got a lot of camps coming up. This is the, the time of the year. We also got Christian McCaffrey coming to town a couple of weeks and...
33:47 Speaker 01 Oh, he come, he's coming to town, huh?
33:48 Speaker 00 Yeah, he actually had to... Takeover for Debo after he got traded because obviously he's not going to be in California. He's in Washington, ready for football camp. So they swapped it out and there's also another cool drive going up at donation drive. A friend of mine that is actually a CSUB student and she's doing a gear for greatness drive this Saturday at the Olive Branch Church from 10 to 2 on this Saturday. What they're doing is collecting used gently new or used football equipment for kids that you know, can't really afford, you know, it's so pricey. It could be cleats. It could be wide receiver gloves. It could be anything that will help. You can
34:32 Speaker 00 donate, but it's 10 to 2 this Saturday at the Olive Branch Community Church. And we'll obviously I will reach out to coach from Cal State and get her back on before that event.
34:44 Speaker 02 Yeah, they gotta do that.
34:45 Speaker 00 Thank you for sharing. That's awesome.
34:46 Speaker 02 Hey, we got a message that came in, couple actually. We got one says, any updates on tax cuts caused by the high tariffs? Thanks guys. Got to meet Dustin out at the social security seminar and he's a great young man. You just don't know him that well yet. Thanks you guys. How long have you guys worked with Safe One? We've actually done these seminars with Safe One now, probably what, four years, three, four years? I know I've done a couple of them. Dustin's done a couple. Gero did quite a few of them. Chris has done a few. We gotta get you up there, LaTroy.
35:16 Speaker 01 Oh yeah, they ready for me.
35:17 Speaker 02 We gotta get you. I don't think they're, I don't think they're ready for you, man.
35:19 Speaker 01 I don't think so either.
35:20 Speaker 02 I don't think they're ready for you, man.
35:21 Speaker 01 I'm too much of a personality. No, I was just joking.
35:24 Speaker 02 No, we've been up there for quite a while in, but as far as updates on tax cuts there, that's something that's being discussed right now. The big beautiful bill, right? That they're talking about passed the House, I believe yesterday. I do believe that, I mean, that if you listen to the politicians, the Senate right now is. A lot of senators are saying dead on arrival. It's not going to pass through the senate the way that it was written out of the house. And so there's going to be plenty of changes. And I don't know if the reconciliation process is going to work properly for them. So I don't know if it gets out of there, frankly, but if it does, there's going to be a lot of,
36:07 Speaker 02 lot of things. We'll have to see what it comes out after it comes out of the senate. We just don't know what it looks like until it actually gets passed. But there are going to be, they are talking about lots of tax cuts, but they're also talking about a lot of cuts to social programs to try and offset that. But either way, the congressional budget office and many other independent budgetary offices are saying that this bill, as written, would add $4 trillion to the national debt over the next 10 years.
36:40 Speaker 01 That wouldn't be good for the markets, huh?
36:42 Speaker 02 No, no, not good. And that's why the bond market, quite frankly, the bond market over the past few days has signaled that it doesn't like the bill.
36:54 Speaker 01 People are hesitant on
36:56 Speaker 02 Right.
36:57 Speaker 01 20-year treasuries, huh?
36:58 Speaker 02 The 10-year, the 20-year, the 30-year, the 30-year ticked up to like 5.8 something,
37:05 Speaker 02 just in the last couple of days, which is ridiculous.
37:07 Speaker 01 They're demanding that, huh?
37:08 Speaker 02 Yeah. And so we're getting weak sales on the, on the bond issuings. They're demanding higher rates. The 10-year bond yield right now is at 4.61, 4.62. And so just so people know, you know, bonds are unsexy, right? Nobody, nobody gets up in the morning and says, oh, what is a bond market doing today? Right? It's definitely not sexy. But did you know that the US bond market is actually 50% larger than the S and P 500?
37:44 Speaker 01 Yeah, I knew that.
37:45 Speaker 02 If you took all of the, the market cap of all of the stocks on the S and P 500, which is basically 80% of the US economy, as far as the, the market cap of all publicly traded companies.
37:59 Speaker 02 All of that stock, if you took all of that stock, all of the value of all of the stocks that are held, it's about forty trillion dollars, forty, forty-two trillion dollars. The US bond market, sixty trillion dollars. Fifty percent bigger. So when the bond market moves,
38:21 Speaker 02 people should listen.
38:23 Speaker 01 Yeah, the, the, the thirty year is at five percent.
38:27 Speaker 02 Yeah, it was like five point.
38:28 Speaker 01 Five point one four.
38:29 Speaker 02 Five point one four?
38:30 Speaker 01 The highest it's been since, uh, twenty-three, uh, October twenty-three.
38:33 Speaker 02 The thirty-year fixed mortgage, which actually is based off of the ten-year yield.
38:40 Speaker 02 The ten-year yield is at four point six.
38:44 Speaker 02 The thirty-year fixed mortgage right now, this week is three point eight six, or I'm sorry, six point eight six.
38:49 Speaker 01 I was about to say.
38:50 Speaker 02 Three point, yeah, yeah, three point, yeah, those days are long gone. Six point eight six.
38:54 Speaker 01 Yeah.
38:56 Speaker 02 So, yeah, it's, it's a tough one, uh, out there, and I don't know that, um, I don't know that this bill is gonna pass the way it's currently written. There's a lot of, um, a lot of, uh, Republican senators that are squawking at it. And, and it's, and it's not the hardliners, it's, it's some of the hardliners, and it's some of the moderates as well. Both sides of that, uh, of that aisle are saying it's, it's not gonna pass as written. Um, so they're gonna have to do a lot of cutting and.
39:26 Speaker 01 So thirty years.
39:27 Speaker 02 Negotiating.
39:28 Speaker 01 Thirty years for five percent? That's not.
39:31 Speaker 02 Thirty years for six point eight six.
39:33 Speaker 01 No, that's for the mortgage. I'm talking about as far as like the bond price.
39:36 Speaker 02 Yeah, the bond market.
39:37 Speaker 01 The bond, the bond yield.
39:38 Speaker 02 If you're buying a thirty-year bond and you're getting a five percent yield on it, uh, the, the reason that that is, it sounds great.
39:45 Speaker 01 Yeah, it does.
39:46 Speaker 02 But what that signals, that you have to think about what is that signal? That signals that, um,
39:56 Speaker 02 Investors think that the United States is not necessarily the greatest investment right now.
40:01 Speaker 01 If they're not taking that.
40:03 Speaker 02 Cause they're not taking that bait, right? And Moody's downgraded us and there's all sorts of things that are going on. And so there's a lot of investors, both domestically and foreign investors that are saying the United States and the weakening dollar and these bills that are potentially getting passed. It's giving, yeah, there's, it's maybe not the best investment right now. And so people are demanding a higher interest yield and that's, that's why these yields are going up and the prices of these bonds are going down. So that's, that's a question. So who knows? I mean, that's kind of where we're, you know, hopefully, uh,
40:41 Speaker 02 hopefully some things change and maybe the bill gets passed, but it's, uh, you know, better than, than what it is stating right now.
40:49 Speaker 01 Whoever bought bonds a couple of years ago during, after 22 with these, with the 10 year treasury, you know, going down.
40:58 Speaker 01 You know, some can sell at a premium.
40:59 Speaker 02 So says that, uh, we're going to be sharing all the information for Terra Vista on the website. So if you want to get on the waiting list, go ahead and get on over there. Check out what the floor plans look like. Let's also say this, before we head into Memorial Day weekend, remember, uh, let's take a moment to remember what the, the weekend's really about.
41:16 Speaker 01 Yeah.
41:17 Speaker 02 This is the unofficial start to summer. I know that everybody's going to be out there getting barbecues and beach trips, maybe a little bit too much sunscreen on their bodies. But you know what? At its heart, at its heart, Memorial, Memorial Day is a time to honor the men and women who gave their lives in service to this country. So however you're spending this weekend, whether it's with your family, friends, or just enjoying some well earned rest. Take a moment to reflect and stay grateful, be smart, be safe, be money wise. We'll see you next week.
41:47 Speaker 04 Securities offered through LPL Financial, member FINRA, SIPC. Investment advisory services offered through LPL Financial. LPL Financial and Money Wise Wealth Management are independently owned and operated.
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