Real Estate, Risk, and Building Wealth with Kim Kash
Mona Reza (Host): You’re listening to the Not Your Lawyer podcast with Mona Reza. Welcome to the Not Your Lawyer podcast. I am your host, Mona Resza, and I am here today with my dear friend, realtor Kim Cash. Kim has consistently been recognized as one of the top realtors in the Washington metropolitan area by Real Trends and Washingtonian magazine. She grew up in Prince George’s County, Maryland, and has lived all over the world. We are so lucky that Kim chose to come back and be a resource for all of us here. She has offices in Green Belt, Maryland, and on Capitol Hill, and serves communities and home buyers throughout the region. Before I introduce you to Kim, I have to remind you that although I am a lawyer, I am not your lawyer. And so nothing Kim and I discuss should be considered legal advice. Welcome, Kim.
Kim Kash (Guest): Thank you, Mona. It’s really great to be here. And I look forward to our conversation just like so many conversations that we have had.
Mona Reza (Host): You know, I wanted to do this podcast because I realized that everyone doesn’t have access to the rich network of women that we do, and everyone really should because I think the not-so-secret secret to really leveling up in business and in life is the company you keep, right?
Kim Kash (Guest): Absolutely.
Mona Reza (Host): Yep. I always ask, you know, did you know you wanted to be whatever it is that you are now—a realtor—when you were growing up? But for you, it’s a little different because you were raised by two local legends in real estate. Did you always think that, yes, that’s what I’m going to do, or did you want to rebel a little when you were younger?
Kim Kash (Guest): Yeah, it’s funny that you asked that question because growing up in a family where both parents ran the family real estate business, I thought that was the last thing that I wanted to do. I said, “Oh no, oh no, it’s simultaneously stressful and boring and I want no parts of it.” So, the career trajectory that I took was actually quite different. I studied English and journalism and I worked for many years in communications and the book trade. And it was those communication skills and the sort of stick-to-itiveness and doggedness of journalism that I feel like now that I’ve come back into the family business—even though it’s not a family business anymore—all of those things serve me well. Whatever path you take to get to whatever career you land in, there’s probably a rich mine of information that you already know from whatever you were doing previously.
Mona Reza (Host): Absolutely. You know, I did my vision board for the year and one of the reminders I pulled out for myself was: nothing is wasted. There’s no experience that means nothing to who you are today. And to remember that as we go through it, right? I think the next question I have for you is we all have this kind of glamorous view of being a realtor—that you get to go and see these beautiful houses and you’re free. You don’t have to be in the office. You’re driving around.
Tell us about the business pieces that go into having a successful real estate business.
Kim Kash (Guest): Well, let me tell you first that I do not drive around in high heeled shoes and walk around in construction sites with a full face of makeup and hard hat. That is entertainment. That is not real. But I would say that there are a lot of aspects to my business that are not glamorous, but they are really fun. I do get to see a lot of very beautiful houses, and as a listing agent, I really get to put a bit of a design eye on people’s homes and help them to figure out how best to present them for a sale. So, you know, no, I’m not meeting with interior designers and spending hundreds of thousands of other people’s dollars on renovating homes. It is very satisfying to see objectively properties improve or properties get built or when properties change hands—what you have to do to make them more interesting and more compelling. I don’t know if that answers your question.
Mona Reza (Host): It does. It does in a way. And also, you know, I think with every business, it seems like a great idea to be an entrepreneur and then you get into the weeds of like what do I delegate, what do I keep? And I think I’ve seen you—just in the time we’ve known each other—really grow in your business. Takeaways for me from watching you was: one, your strategic partnership with Compass. To have a good partner that can help with some of those things—and it was actually a model for some of what we’ve talked about I’m doing with our law firm—is to have that strategic partner so you can be your best self and have less of that stress. And the other thing I think you do exceptionally well is you have thought about delegating and hiring at the right time, and making sure that you are working at your best use—where you know where Kim Cash really adds value. That’s where you want to work, and you found ways to delegate the other pieces. So can you talk about that a little bit?
Kim Kash (Guest): Yeah. Yeah. Yeah. Exactly. So the first piece of it, every real estate agent has to affiliate with a brokerage or start their own. And in my case, I am affiliated with Compass, which is the largest brokerage in the United States, though it’s less than 20 years old. It’s sort of an amazing success story on its own. I think I’ve made a great decision in hitching my star to that wagon, but they solve all of my technological issues. So I literally don’t have to think about what app to use or what design template to use for social media. All of those things are already done by people whose day job it is and whose specialty it is to do that stuff. So not only does it save me time, but it’s literally better than anything that I could come up with because I’m not a designer and I don’t build apps. So there’s that piece of it. I think if you’re in an industry where you can affiliate with an entity who has solved for all of those things, I recommend it. Why would you not? Don’t reinvent a wheel that has already been invented better than you could. So that’s the first thing. But the second thing is the delegation of administrative stuff and errand running and document preparation and storage and all of the things that I can hand off. I think I’ve pretty much at the point where I have done so—that everything that I’m doing right now is really serving my clients. I’m marketing myself and putting myself out to new clients and I’m right there for negotiating and strategizing for the deals that I’m working. So I do feel like I have arrived at that point where I’m doing only the things that I’m supposed to be doing. And you know, Mona, the thing that I didn’t see coming that I think has been really gratifying is that my business partner and I have hired someone to do a lot of our admin work. He’s an intern, but we sponsored him to get his real estate license. And he has really shown a strong interest and an aptitude in this industry. And I fully expect that when he graduates from the University of Maryland—at the end of this semester—we have set him up to launch into a career like from the jump. I’m really looking forward to seeing his success, but also I didn’t understand how gratifying that would be on my end—how proud I am of him. And how it also really makes me think about, you know, when I’m devising ways to hand more—put more from my plate onto his plate—I have to train him, right? They always say that teaching a thing helps you to learn it better yourself. And I have found that that is definitely true. So having an intern has made me really scrutinize my business in ways that I hadn’t done before, which is great for me and great—
Mona Reza (Host): Absolutely, because I think stories I love the most are the people who started at the cash register and worked their way up or in sales and then are now the CEO of the company. And I don’t think that it’s an accident that there are so many of those stories because you can’t supervise what you don’t understand and you can’t audit—you have this huge blind spot if you’ve never actually done the job.
Kim Kash (Guest): Exactly. You know, and it’s really interesting how you have to break down into pieces and think about how you’re going to train somebody to do the stuff that you’ve just been sort of doing and checking off your list. And I think the easiest example—but also a good illustration—is when I first hired him I said, “Oh hey, can you go put some sign riders on my signs? How easy is that?” It’s very easy, but what’s a sign rider? And oh, does the first sale sign go on the top or does it go underneath? And oh, how do you connect the rider to the sign? These are all questions. So I went out the next time I had one and I put the sign riders on, and then I just took a picture and then I sent it to him. And I was like, “Okay, here’s how you do this, here’s how you do this, here’s how you do this.” And then he knew. But then I had him take photos of several examples of the next ones that he did just to make sure that he did it right and he was putting the right rider in the right place. That’s just one easy example of where you go, “Oh wow, these things that you never would have thought of need explaining.”
Mona Reza (Host): And you know, one of the best pieces of advice—I read a lot of books. I am constantly reading something about entrepreneurship and growing businesses. And over and over again, it’s this idea of exactly what you said: recording what you’ve done. So in my industry, it’s Loom. As I’m doing it, I’m recording my screen and explaining what I’m doing. And the next step is then putting it in a playbook—an online playbook—because when he moves on and the next person comes, you never want to explain this again. It’s right there. His pictures are there, the instructions are there, and then the next person just is able to take over all of this time that you’ve put in. It’s an investment into your employee manual or whatever versus, “Oh great, now we have to do this again.”
Mona Reza (Host): So you are a listing agent. That means you generally represent the seller—or both?
Kim Kash (Guest): I do both.
Mona Reza (Host): Okay. Is that typical?
Kim Kash (Guest): It is typical. It’s a good way to build a balanced business. The two jobs are very different. As a listing agent, I’m helping people figure out how best to market their property and what price to realistically sell it at—advising them through this super important step in their life and helping them maximize the value of what is often their biggest investment. That’s very different from working with a buyer to figure out: Should I rent or should I buy? Where should I go? How much money should I put down? Can I do this?
Mona Reza (Host): That’s such a great point because even 10–15 years ago, if you were a buyer, you were a buyer. Now it really has become: Should I rent or should I buy? With interest rates and housing costs, I’m sure many people are making that decision.
Kim Kash (Guest): I love when people come to me legitimately with that question because there are a lot of assumptions about “I can’t afford to buy in this market.” For some people that’s true. But at the same time, some people are going from the frying pan into the fire by continuing to rent because landlords are becoming increasingly aggressive with rent increases.
Mona Reza (Host): That brings up something interesting. The two biggest barriers I see to ownership are credit and down payment. Those requirements are lower for renters. But on the flip side, a home can become your biggest asset—and also your biggest risk. Some people borrow against their home for their business. Do you have advice for entrepreneurs thinking about that?
Kim Kash (Guest): I agree you have to think carefully about borrowing against your home. But if you are comfortable with the payments, it can be a less expensive way to borrow compared to credit cards. And there can be tax deductions involved. One piece of advice I give entrepreneurs—especially if they’re currently in a stable W-2 job—is this: before you start your business, go get the largest home equity line of credit you can qualify for. Don’t spend it. Just open it. That way you have access to lower-interest capital before you leave traditional employment. Once you’re self-employed, it’s much harder to qualify.
Mona Reza (Host): That’s actually great advice because banks understand W-2 income so much more easily than K-1 income, S-corps, LLC structures—it’s complicated to explain once you’re self-employed.
Kim Kash (Guest): Exactly. And the same goes for other credit lines. Line it up before you quit. You don’t want to max it out—but you want access to it because launching a business comes with upfront costs. And once you leave your W-2 job, you’re not as “creditworthy” on paper.
Mona Reza (Host): Once someone buys the house and has the loan, what are the responsibilities they may not have thought about?
Kim Kash (Guest): First, the buck stops with you. There’s no landlord to call. If something breaks, it’s your responsibility. You also have to actively maintain your asset. It’s easy to forget to check a basement stairwell until it floods because leaves clogged the drain. You don’t have to be “handy,” but you do have to be attentive.
On the flip side, you don’t have to worry about your lease ending, rent increases, or being asked to leave. If you can pay your mortgage, you can stay. And even if you struggle, there are protections for homeowners that renters don’t have.
Mona Reza (Host): Insurance is something people overlook too. I heard a story in Florida about someone whose insurance wouldn’t cover a roof replacement because there was no permit pulled. That brings up the value of having a good realtor who understands local compliance issues.
Kim Kash (Guest): Exactly. A realtor isn’t a lawyer or a building inspector—we can’t give legal advice. But we know who to connect you with. That’s our role: to know the right experts and bring them in.
Mona Reza (Host): I remember when we bought our first house during the 2005 bidding wars. They wanted us to waive financing contingency and offer significantly over asking. We refused because we knew our budget. And it turned out two prior deals fell through because the bank wouldn’t finance what buyers had offered.
Kim Kash (Guest): That’s such a good example. A financing contingency basically protects you if the appraisal comes in lower than your offer. If you waive it, you’re promising to cover any gap between appraised value and contract price. In competitive markets, sellers will choose offers without contingencies. But you have to know whether you can afford that risk.
Mona Reza (Host): In other words, don’t offer more than you can afford without the bank loan.
Kim Kash (Guest): Exactly. If you can close the gap with your own funds, that’s one thing. But if you can’t, you’re exposing yourself to serious risk. The market we just came out of favored buyers with deep pockets. Now inventory is increasing and things are leveling a bit, which gives more buyers a shot.
Mona Reza (Host):
Real estate can build generational wealth—but it’s still a risk. Markets crash.
Kim Kash (Guest): They do. But even in a crash, if you own your property, you still have a place to live. Stocks can crash too—but you can’t live in a stock certificate. It’s apples and oranges.
Mona Reza (Host): We were once advised to take a high-interest “no-doc” loan because the house would skyrocket in value and we’d refinance. That didn’t happen. The accountant’s advice—make sure you can afford the mortgage from day one—was absolutely right.
Kim Kash (Guest): That advice still holds. You cannot rely on refinancing as a necessity. The future is unknowable. Buy something you can withstand even if conditions don’t improve quickly.
Mona Reza (Host): Especially now, when even government jobs and contracts don’t feel as stable as they once did.
Kim Kash (Guest): Exactly. In many ways, entrepreneurship can feel more stable right now because you’re betting on yourself instead of on an institution.
Mona Reza (Host): What’s the biggest mistake you see first-time buyers make?
Kim Kash (Guest): Two things. First, being too afraid to leap. I’ve seen people hesitate on a home they loved and could afford—and then regret it deeply when someone else bought it.
Second, not trusting their gut. There’s a qualitative element to buying a home. When someone walks in and their eyes light up—that matters. Yes, the numbers have to work. But this is your home. It should feel right.
Mona Reza (Host): Do couples usually agree on that feeling?
Kim Kash (Guest): When they both feel it, that’s the one. When they don’t—that’s where it gets tricky.
Mona Reza (Host):
What’s more emotional—buying or selling?
Kim Kash (Guest): Buying, for sure. Selling can be sentimental, especially after raising a family in a home. But buying feels heavier because it’s a huge financial decision and a commitment for at least five to seven years. The idea of the “forever home” has changed.
Mona Reza (Host): Five to seven years feels manageable. That actually takes pressure off.
Kim Kash (Guest): Exactly. If you think you’ll be somewhere five years, buying often makes sense. If less than that, it becomes more case-by-case.
Mona Reza (Host): And that math includes transaction costs, appreciation, equity build, right?
Kim Kash (Guest): Yes. I can estimate purchase and sale costs. But interest rates, future appreciation, and market shifts are unknowable. You work with your lender and financial advisor to evaluate it fully.
Mona Reza (Host): I’ve seen parents buying homes for college students. Built-in renters after graduation.
Kim Kash (Guest): Absolutely. That’s often an easier entry into investment property because you already understand the local market through your student. It can be a strategic move.
Mona Reza (Host): And I would say—just from my perspective—if you’re buying property in another state for a child in college or grad school, make sure you’re thinking about estate planning. You don’t want a probate asset in another state. And unless you truly intend for that property to belong solely to that child, don’t automatically put it in their name just because they’re living there. That can create complications later when it becomes a rental property and now you co-own it.
Kim Kash (Guest): That’s such an important point. These are the kinds of details most buyers don’t even realize they need to think about. It’s another example of how real estate intersects with legal and financial planning. It’s rarely just “buy a house and you’re done.”
Mona Reza (Host): Exactly. Okay, before we wrap up—any parting nuggets? Either for someone considering getting into real estate as a career or someone buying in this market?
Kim Kash (Guest): For getting into real estate as a profession, I’ll say this: it is challenging. I wear about 20 different hats. It can absolutely be stressful. But at the end of the day, I feel like I’m adding value to the world. I’m providing a service people genuinely need. I’m helping open the door for people to create generational wealth, which is critically important.
The reality shows make it look glamorous or ridiculous, but they’re not real. When done seriously and as a full-time profession, it’s honorable work. I love what I do.
Mona Reza (Host): And I love having you as a resource. Likewise. One of the reasons I value our relationship so much is because we’re both members of the Green Belt Business Alliance. We’ve served on the board. It’s a space where people wear many hats, and one of the biggest benefits is getting to know other business owners deeply.
I would encourage any entrepreneur or business owner to join their local business alliance or chamber of commerce. It opens up a world of resources. And when I refer a client to someone, it’s not just because they won an award—it’s because I know their integrity. I know how they treat people. That matters.
Kim Kash (Guest): It really does. When you see people in different contexts—serving, volunteering, leading—you learn who they are. And that’s invaluable.
Mona Reza (Host): Thank you so much, Kim. I’ll see you at coffee this week, I’m sure.
Kim Kash (Guest): Looking forward to it.
Mona Reza (Host): Thank you for tuning in to this episode of the Not Your Lawyer podcast. If you’d like to connect with Kim, you can find her at kimkash.com—that’s K-I-M-K-A-S-H dot com.
