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(00:00) have you ever interviewed a billionaire have you been to Prince Edward Island the UN seexy side of real estate investing all that more in this week’s truth about real estate investing show for Canadians I’m your host rwin CTO and I’m a big believer in education free education is even nice too because everyone wants a good return on investment of their time and money uh and this show is about exploring truths based on strategies tips tricks and experiences to help listeners build successful investment portfolios so they
(00:28) may live more fulfilling lives I’d love nothing more than that for my 177 listeners of this show uh and this show is like a buffet we have guests from all parts of the spectrum uh as in like investment Spectrum to share their Journeys in investing so you you The Listener can pick out what you let you want to apply to your own practice to optimize returns reduce risk for happy happy retirement or to fund those things that are important to you like fantastic travel charity helping out the kids with tuition or housing cause this past
(01:00) weekend I hosted a bunch of actually last weekend a weekend ago sorry a weekend ago I hosted a bunch of family and friends at my home at my house for my mom’s birthday I cooked my specialty brisket smoked it and baked it for 10 hours to perfect melt iny mouth consistency no steak knives needed uh anyone who knows me uh knows I love to listen and talk about real estate investing real estate in general one of my guests is an old family friend that lives in the most expensive neighborhood in all of Canada West Vancouver it was
(01:29) interesting to hear her own perspective on the cost of sending kids to University in Crazy Rands and she lives in a house so it’s an insane amount of money what her house is worth um and for anyone to get into that market again it’s West Vancouver it’s the most expensive Market in in um least it’s the least affordable City in all of Canada uh at last check any so again she and then she sends her kids to University in Toronto so she knows what how crazy expensive rents are in Toronto for her kids now her brother is the polar opposite he
(02:02) lives in Minnesota his name is Phillip and according to uh my friend Brenda she says Philip says it doesn’t matter how successful one is in Minnesota because everyone there can afford a house because it’s that affordable What A Tale of Two Cities and just reinforces my Pursuit for affordability and cash flow for my own portfolio and of course the USA before we talk more about the USA how great is Canada I just returned from a leadership conference hosted by O Canada entrepreneurs organization Canada in charlott Town PEI the event was
(02:35) absolutely epic uh our Keno speaker was Robert E Grant uh for some of you it’s probably a big deal I had no idea who he was so FY he’s a billionaire uh he stayed the entire conference with us including the excursions and dinner uh dinners with us so we got we each had a chance to engage with them um uh in a very small setting my mind was absolutely blown uh and my work is cut out for me as Robert agreed to come on this little podcast not this little podcast it’s another podcast I’m working for but I will I will share it on this
(03:08) podcast as well um it’ll be a nice warmup as Robert is preparing to go on Joe Rogan’s podcast shortly after now Robert is no regular billionaire either not that I’ve met many if any uh and will be the first on the show uh yeah that’s yeah yeah his businesses are altruistic uh while we were at the sumach Robert showed me on his Instagram how his company rang the bell which is the opening ceremony at the NASDAQ uh I said I couldn’t I told him I couldn’t believe he missed such a momentous event uh this company he
(03:41) founded uh owns that he owns the majority of uh with a map market capitalization of over a billion dollars Robert replied oh no it’s okay I was there for the opening ceremony earlier this year and then he proceeds to scroll down his Instagram and show me when he was front and center doing the opening bell ceremony at the NASDAQ so that’s the same Stock Exchange that is home to Apple Amazon Microsoft meta Google Nvidia Netflix Tesla Etc uh and then I went on to hear Robert’s talk he mentioned limiting beliefs obviously this guy doesn’t have
(04:15) many of them because he’s just accomplished so much uh and I didn’t at the time I didn’t believe he’d come on my podcast so I didn’t ask him uh but after hearing that like him his uh his opinion of of not having limited beliefs I went ahead and asked him at the break and he to which he said yes holy cow Batman I’m going to interview a billionaire uh who’s the nicest guy he’s got genius level IQ he’s a polymath meaning he has expertise in multiple unrelated Fields like Leonardo da Vinci so keep an eye out for that episode now did I mention
(04:50) how much I like Canada if you’ve been to Pei then you know exactly what I’m talking about everyone everything there costs less that’s nice people there are polite City’s clean uh I ate more than one Al Lobster per day on average because it’s local and it’s uh cheaper than buying it here the gulf and Waterfront there is beautiful uh and I met a lovely couple from Nashville Tennessee who said they may they may make uh Pei their uh vacation destination every summer uh now this was the entrepreneurs Leadership Summit too
(05:19) and from speaking to others uh so these were Canadians from all over the country folks I met folks from winipeg uh Vancouver uh Quebec City of course uh Toronto my own Pro chapter a lot of folks from Ottawa and uh no one is really happy about the direction of this country and anyone who wanted to talk about real estate I happily oblig them about um how my own Journey I’m investing in the USA uh how much better the land rights are cash flow opportunities are down there um and you know there’s a good number of people
(05:50) interested in real estate investing so um they were happy to hear about it and interested in learning more uh I don’t see and who can who’s surprised here because I don’t I don’t see how the how any everyday investor chooses a condo or duplex in this country after seeing what we have to offer in the USA uh I was speaking to a past client of mine who is a home inspector just today who lives in Moga and he was recounting to me about all the flooding that happened recently in his own neighborhood the Tron star reports the
(06:19) damage at $1 billion uh when I told him how investing in the US in how we’re investing in the USA or investing we’re buying properties with no basements to which he said he’d never want a house with a basement ever again too many risks and problems which is what I’ve been saying this whole time uh who would invest in a basement apartment tenants have all the rights flooding and insurance great risks are greater than ever and the cost to renovate a basement into an apartment could could buy you one to three hoses
(06:47) in the USA uh and where the investment would be much more passive in the states that is the ratings on the wall and new opportunities to invest in the USA is a dream come true to for many Canadian Real Estate Investors like myself if you’d like to learn more about how a Canadian May invest in the USA simply go to my website www.
(07:09) truthout realestate investing.con a future training webinar that I um I’m having one this week unfortunately this episode will come out uh before you have a chance to sign up for that one uh but we’ll probably have one in the in the near future as well again I I believe education should be free so I’m doing my part to make that a reality uh onto this we show we have Megan hubner who is a real estate business consultant who helps investors run their portfolios like a business after a 12-year career in medical and pharmaceutical sales where she achieved
(07:37) her goals she decided to transition out to entrepreneurship using her degree in entrepreneurship to work with various businesses in real estate after about four years she started focusing on Real Estate Investors helping them with accounting Finance operations and Building Systems to stabilize and grow their businesses Megan is also an experienced real estate investor herself having built a portfolio in British Columbia across different strategies as well uh she’s also the co-host of the real estate investment the real estate
(08:04) resilience Summit along with fellow Dynamic investors Elizabeth Kelly and Victoria Clooney Friends of the show for more information and to register for the resilience real estate resilience Summit go to real estat resilience. CA but don’t delay the all virtual conference is Saturday and Sunday September 28th 29th cherry and I my wife and I are proud sponsors and Sher and I are proud to be sponsoring call quality educational content providers at affordable prices by Elizabeth Victoria and this week’s guest Megan hubner
(08:37) without further Ado I give you Megan [Music] hubner Hi Megan what’s keeping you busy these days I’ve got a lot of things going on right now we are packing up we are heading to Ohio we’re looking at real estate investing we’re going doing some homeschooling this year we uh we have a lot of things on the go right now and it is so fun oh my God that might take the record for busy hes schooling two kids nonetheless well the little one is only two and a half so she doesn’t require a lot I will get some support with this without a
(09:15) doubt but yeah it’s uh it’s going to be an adventure and a half and you’re not from Ontario you’re moving a long way that’s right I am from British Columbia I live full-time in Whistler BC um and we are driving out to Ohio in the middle of September here um with our family we sold our cars cars recently we packed everything out put long-term tenants in our place for a few months and bought a truck and trailer and we’re getting ready all right that’s a mouthful for for those who know who don’t know who you are please tell us a
(09:47) bit about yourself absolutely um so my name is Megan I live in British Columbia as I mentioned earlier uh I spent 12 years in medicone pharmaceutical sales and in 2019 I thought gosh there’s got to be something greater out there for me I reached the Pinnacle of my career I was a regional sales manager selling in the hospitals it was what I had set out to do and I had this pull on my heartstrings that there was something else bigger out there and I felt like I could make a greater impact if I started working with small business owners and I
(10:15) actually walked away from my dream job in 2019 head I would imagine I was doing I was doing well you know we had yeah we were we were doing great we both had corporate careers and jobs and we thought you know what I think there’s another path out there for us and it’s funny because I actually have a degree in entrepreneurship and when I left the corporate world and went back to entrepreneurship I felt like I was going home I just felt like I reclaimed a piece of myself that I’ve been missing for a really long time and I started
(10:40) working with multiple different business owners everything from high-end Golf Apparel to health and fitness and wellness and underwear and different brands and I just knew that Consulting was where I needed to be um but I’d always had a passion for real estate and then I kind of started to uncover what was happening a little bit more in the real estate world is that businesses were growing really fast and people were lacking the clarity of how to actually run their portfolio as a business and so I started about four years ago really
(11:08) focusing in on working with Real Estate Investors fantastic um he a name drop and I don’t know if I want to I don’t want to know if I want to name drop the investors but um because they least tell us something about their businesses are they like are they they’re developers in Edon multiple Boutique developers um long-term rentals uh short-term rentals property management companies um private Landing companies yeah lots of different areas kind of all woven into real estate um and people usually come to me with the
(11:41) fact that you know I have a business it’s thriving it’s doing well but in order to get to the next level I need to start organizing it as a business and so what we do is we really take a look at like what’s happening in your accounting Finance practices what’s going on with your sales and marketing do you understand your human resources do you have kpis do you have have measures of success in place um and then we take a look at operations do you have a CRM a project management software you know where can we help you with your business
(12:07) to stabilize things and then really prepare for growth and clean up the back end I think it’s partly because that we’re all victims of our success uh I was literally speaking to a client who held a property for well over 10 years a rental property single family home really really really simple in the GTA and we helped her we helped her sell it um and she walks away with a capital gain of over $100,000 now if for investor getting that into that property today they have no one help Hope in Hell making that thing work unless they do something
(12:38) invasive like a development some sort of repositioning basement sueding even with basement seding and a garden sueding we’re talking like half a million dollars of capital you have to Shell out versus my put down a down payment of like 40,000 I know I know I mean we were we were lucky and fortunate to get into real estate um oh when did I buy my first place like years ago in British Columbia right when things were still attainable and stuff but it’s it’s it’s tough in BC right now for sure without a doubt prices are prices are wild and
(13:09) things what what’s your real estate investment Journey been like what was your um you know I think I I think I probably got to that four that four units and kind of hit that level of like I don’t even really know where to get next so I bought my first unit at 29 you know put all my money into it and then a year later my now husband and I bought our house in the suburbs and then I crunched numbers for the next three years and worked really hard to figure out how I could buy a vacation rental in Whistler bought a vacation property in
(13:36) Whistler um and then we knew at one point in time that we wanted to actually move up to Whistler and live full-time so we moved from the city to Whistler and uh so I bought I sold my downtown condo the first one I bought and I upgraded to a townhouse in Whistler as well so we now had those couple properties um then we did a joint venture on the island with some friends where we have a two and a half acre property on Vancouver Island that we run as an Airbnb we still have today and so I went through all these steps and I
(14:04) didn’t even think and this is always embarrassing for me to say but I didn’t even think to Google how to become a real estate investor because I didn’t even know it was an entire industry I just knew that I wanted to buy real estate I just needed to KN knew that I needed to learn how to crunch numbers and those are all the steps that I went through it wasn’t until actually during covid we were in our bubble we were in lockdown we were with some people around the table and there was a a a new young woman there and she said oh yeah my
(14:28) dad’s a real estate investor and my ears perked up and I was like oh tell me more I want to know about this industry and that’s really where I started to really dive deeper into that yeah for for for for the listeners uh who aren’t from business backgrounds um I think that’s often missing from the introduction of real estate investing because when you hear investing it’s supposed to be passive to me investing means passive like if I’m looking at buying nutrian stock I buy the stock and I do nothing right and I think mistake novice
(14:59) investors make is that they think they don’t have to do anything don’t compasses just you just bought a business right and you know I talk to investors every single week that are really Keen to grow and scale their portfolios um and you know a lot of times I say like let’s just build the framework first okay like what you know what are you doing for accounting practices do you have QuickBook set up do you have a bank account for each property are you routing do you know what your fixed costs are do you know what your variable costs are do you know
(15:28) how much it cost to run your business not including your properties M and we go through all that first and then we sort of say okay okay now that you’ve understand your finances and things do we have any money to spend on marketing do we need a website do you need branding what are you actually marketing are you looking for private investors are you looking for joint venture partners and we really take it through like what’s the sales and marketing that you’re really focusing on and then we say okay who’s going to help you with
(15:50) this do you have a VA do you have an assistant have you hired a bookkeeping team like you are the people that are going to help support you get to get to those next goals and so take a look at job descriptions and your you know high value tasks versus low value tasks where can you start Outsourcing how do you hire when do you hire um and then we really dive into operations so do you have a project management software that you’re using if you’re doing you know flips or if you doing repeat tasks like development projects and things are you
(16:17) just checking the boxes every single time or are you going back to the drawing board on every project and starting from zero again so we do a lot of that too operations is really I mean real estate operations is very heavy um and until you kind of get up and running and have that TurnKey system and you hear about these people that are growing and SC scaling quickly and things but they should be going through the process in the same manner every single time it creates efficiencies that way that was mouthful now for for The Beginner’s uh
(16:47) benefit so like my portfolio was very lazy at 10 plus properties it was really just buy hold renovate very one property at a time we didn’t it wasn’t that complicated in my opinion now now speak to who do you think needs what you’re talking to like to basically have a business plan and consider marketing budgets what kind of who is who is that investor really business owner yeah who is the who is the business I encourage people to get started as early as like three to five properties if you have three to five properties you have a
(17:17) business you should be running it as that um and so I would say start the earlier the better because if you come to me at 35 properties man it’s a lot to clean up yeah if they haven’t started they’re run they’re probably ready to fail wait is that not the point of coming to you are they no like I don’t I don’t want to I don’t want I don’t want to see you fail I want to see you thrive so I say get these things done early I mean if you’ve got three properties you should be having these done you should know what your fixed costs are your
(17:47) variable costs how much cost like you should have your bank accounts routed properly like even on three properties and I’ll say that’s the commonality between all the folks are in the paper and all all over our social media for having very public failures is yeah I don’t think even bookkeeping was done properly let alone anyone knew what the numbers were because even to me as an outsider look looking in like I saw deals and they don’t pencil as the term they don’t make sense I can’t believe people put money into them yeah I’m I’m
(18:21) to be honest often shocked at the decision-making process as well of saying yeah we’re going to stay heavily invest in a tracery market or yeah we’re going to take on this this and this without actually trying one model first before you really scale that model um so I’m always yeah I’m always curious about what goes into the decision decision making process or the buy box if you would um and yeah it’s it’s often it’s often easy to see people fail when they grow too fast like that and then yeah and then just lack of
(18:54) experience like we you mentioned tertiary Market which would be like third level yeah so what would Whistler be just I want to use a BC use a BC anal Vancouver would be primary yeah I mean technically it’s a secondary Market but it’s also unusual in the fact that it’s a international destination so we don’t just have local buyers right so it is kind of a primary Market I mean if you’re looking for a res destination in British colia recation absolutely gota be primary number one yeah so yeah it’s kind of a unique situation in that in that area I
(19:24) mean the market there has done crazy things like the rest of Canada has but we’re talking you know we’re not talking about a $400 it didn’t start as a $400,000 home it started as like a $900,000 home and so now yeah property there is is wild it’s is funny because I I I didn’t have to Google it what comes after tertiary because I find so many people use tertiary incorrectly people have been using saying Timmons Ontario is a tertiary market and Timmons to me is famous because other than Sinai Twain is because it used to own the title of
(19:56) being the most affordable City in Ontario which to me no one wants to go there that’s a good way look at so is it quinary is it quinary is it scenary septenary I would just I would lump it in as a submarket I don’t even think it gets a titled just a submarket of right of whereever and I think I think it’s a lack of people’s again I think some people just deliberately misrepresenting and some people just not being able to do the math yeah and and I do think that you know a lot of times is that with that growth coming the pain of really having
(20:30) to take the time as entrepreneurs I see people being so busy all the time and it’s the heavy grunt work that people don’t want to do that gets left behind fascinating CH disagreeably they think it is tertiary anyways this is a CH by real estate investing show so I’m happy to fact for people to fact check me and my to fact check myself I may disagree with chat gbt but that’s okay they’re supposed to be smarter than I am yeah now now um yeah so tell us tell me more about uh tell me about your own Journey now you’re sure
(21:07) how how far is this drive from from DC to Ohio 4,000 kilometers or something like that where forecasting it’s going to take us about eight or nine days because we’ve got young kids do so we can’t we can’t be trucking 12 hours a day you know that’s so that’s almost the width of of a Canada 4,000 well it’s only seven hours from south of London Ontario so we’re pretty much driving driving across um so yeah so we are in the process right now my family and I like I said sold our vehicles we bought a truck and trailer we are just prepping
(21:40) that up this weekend we are going to head out mid-september um driving across the country heading to Cincinnati Ohio and surrounding areas uh my husband likes the Cincinnati Market he thinks it’s a great spot to base ourselves out of and we’ll go and we’ll check it out um you know it’s difficult in our Market in Whistler it’s not an area that we can we have invested there before and we are down with our investing in wi right now um and so we needed to go to some other location and we could sit and be really
(22:07) comfortable for this next year our children were registered at school we had it all mapped out and planned or we could get uncomfortable and actually make some big changes and so we decided that this is the time that we’re ready to go all in I’ve had this RV trip in the back of my mind for about five years and it just seemed like the the timing was right is Ohio nice I don’t know much about it I’ve been to Cleveland apparently Cleveland’s not super nice but apparently Cincinnati is supposed to be relatively nice there’s a green belt
(22:34) there there’s some mountain biking things I mean it’s going to be nothing in comparison to Whistler um but yeah we’re gonna we’re gonna go to check it out and if we don’t like it we’ll change we’ll move um but from you know from all the research that my husband has done and he’s the he’s the one who who dides all that due diligence the prices are good the rents are good um there’s great areas of opportunity in there in and around there tell me more about the decision for Cincinnati Ohio how did you arrive there um some good markets in
(23:02) their surrounding area there’s some new EV plants going in um the area is not right for appreciation I mean coming from BC we have a definitely a skewed landscape of what appreciation is supposed to look gener find Canadians in general do have a skewed a deal with appreciation is like yeah so there’s some decent appreciation there um some good development as well it’s a good relatively safe city um likes the market dynamics the r the rent rates are good things like that fabulous we thought we’d go give it a try right and and
(23:34) again this is a journey if it doesn’t work out you can move on you literally have you really can just pick up and keep going we can literally just leave the RV park and go to the next destination yeah absolutely um and I think that just having that mindset of doing those types things you know I’ve had a lot of commentary of course in making this decision so quickly um and I’ve had everything what from is that safe should should should you actually do that um I don’t know if you want to invest in the US market isn’t real
(24:03) estate risky to uh should we be doing that too right so there’s so many everyone has such a different perspective like different risk tolerances and things like that and so yeah that’s my feeling is if we don’t end up liking or the market doesn’t end up being as good as we forecasted it to then we’ leave we go somewhere else it’s interesting because they have these conversations all the time as well like my DMs and comments are on my social posts are always are always filled with usually people were more inquisitive about the states yeah I’ve
(24:31) yet to have anyone in fullon debate me that that invest diversifying in the states um yeah pretty much no one’s wants to debate me on that that diversifying the states makes sense yeah probably because you’re too good at debating no I think I think I think the writing is on the wall right I literally shared on my Instagram just yesterday uh American Wealth has grown S I think the number the dates were between from 2010 to 2023 Americans wealth has grown 162% and then oh let me bring it up because I don’t want to get it
(25:12) wrong oh and then and then uh not let me bring it up I don’t want to get it wrong because these things it just keeps coming up where the Americans are beating us on almost everything okay so hang on so percentage change in wealth from 2010 to 2023 in the US has gone up 121% Canadians Canada has gone up 62% okay right well you you’ve held real estate you did well yeah yeah right definely but we’ve done half as well these as the Americans yeah and then for people who like to poo poo on the US dollar or think that the dollar is
(25:48) expensive or whatever the US econ is bad I think I saw another statistic where the US dollar has been the number one investment currency six of the last 10 years right yeah I believe it all right so like so I don’t know who wants to so yeah at the end of the day no one wants to debate me on this topic that diversifying makes complete sense yeah I mean I take a look at what we could accomplish in Canada or I could take a look at what we could accomplish in the US and the more I learn about the US market yeah um because I do work with a
(26:19) lot of us investors right now too and just have access to different strategies they’re utilizing um I cannot believe how much more opportunity that I’m seeing like I am shocked you’re you’re quite a few months ahead of research ahead of me so you probably like sitting there doing a happy dance but I cannot believe every month that I learn more about the layers of what we can do down there versus here I’m shocked and I think uh yeah I’m not sure why a lot of canans aren’t so familiar with what’s going on in the states I
(26:49) think well I think part of it is first of all when we all became Real Estate Investors we all had to find we all started that Journey on our own like because no one out there with the media or has big advertising campaign makes money selling real estate right so the folks who sell mutual funds the banks financial advisers are not promoting real estate investing right because they can’t make money selling it now in turn pretty much no one in Canada makes money selling us investment property right Realtors mortgage folks they
(27:20) generally don’t do it there’s a very small number of us very very very small number of us uh so I think that’s maybe why it’s not out there about how different it is in the states so so let’s um let’s use uh an example from your own context what would be like an everyday investment where you are right now for a regular mom and pop investor to get into uh in well in BC I think the most successful client I have is a boutique development firm in downtown Vancouver right that’s not a mom and pop investor what is someone with they started as a
(27:54) they started as a mom and pop though right they started there um yeah in I mean in BC I I don’t see the mama I see I see the mama pot moving to Alberta is what I see and buying a single family home buying a single family home and turning it into a illegal basement Suite that’s what I see right right yeah so we’re talking about Calgary I think the average price in Calgary is 600,000 now yeah Calgary’s a little bit too high for that strategy right now but Edmonton you can find that strategy still right so we’re probably four 500 grand for a host
(28:23) uh you’re going to be anywhere from 350 to 450 on the house house and then the work to Suite the basement MH yeah right okay so that’d be like a an accessible investment for an everyday investor in Canada right y now what what kind of deals are you looking to do when you’re in Cincinnati Ohio uh we’re looking for single family we are interested in um looking into the section eight rentals as well um heard a lot of success around that strategy I like it a lot um and for those Canadian listens that aren’t from with Section 8 is a government funded
(29:00) program the average Section 8 renter actually stays in their property from seven to n years versus the average uh renter is usually one to two years in a traditional setting and the average Section 8 um resident actually takes about a two-year application process to get in so once they get in they don’t want to mess it up and they are relatively good tenants um yes you deal with a little bit of a different demographic that might not be your ideal tenant profile um but the government is paying that that rent for you every
(29:28) month mhm and I know the the BC on investors like oh you don’t want them to stay cuz uh you know you need turnover raise rents right Megan what are you talking about this is a terrible business yeah point I’m trying to get to is there’s no run control yes exactly no run control and we we need to do do I mean I was listening to podcast yesterday and or no actually I was um on a sales call yesterday and the the client that I was speaking with was saying that this their Section 8 rentals were actually paying about 13% above
(30:03) Market rent that sounds good to me and I imagine you’re to hire a manager right and you’re not going to selfman oh yeah absolutely we will not self-manage at all no yeah yeah definitely we will hire Property Management we will hire an entire team we mean we’ve got this is that’s the US expansion and things we have um a team in Edmonton we are developing there as well in Edmonton right now um and so we have a team same thing a team of people that are helping support us in all of this yeah now for like uh okay so can you
(30:36) give us some uh high level numbers for uh Cincinnati Ohio property you’d be looking at let’s start with the Section 8 what what what would it cost to buy it what would the renovations be what would the rent be yeah we’ve looked at anything from an $889,000 duplex um that needs about $25,000 of work and is going to rent for uh probably uh I mean just think of the triplex that we’ve looked at recently the triplex to buy was in a secondary Market to Cincinnati it was $90,000 to buy it needed about $225,000 of work and the rental income was
(31:10) forecasted to be 51 unit 81 unit and 700 in the other unit all right so 2K yep yeah rents uh plus any utilities utilities were paid they were paying all of them yeah on on that one I think they were very nice yeah and um and again I don’t think most Canadians have context for this how much more affordable it is how much more affordable it is yeah I mean just that have anything in the low 100s to purchase is like staggering for Canadians and then how would you finance these deals um we would Finance through uh well we we could do cash we could it
(31:58) also do dscr loans there’s a lot of different funding opportunities down there we just got um approved for uh kind of like another a loan which is more like a short-term loan um yeah so lots of different lots of different options what do you what do you expecting for your your long-term financing to look like uh long-term financing we’re going to start with the dscr loans and we’re going to take a look at some subject two properties as well all right we’re getting complicated yeah let’s not get too uh do you know the ter what kind of
(32:30) terms you’re going to get on dscr so debt service coverage ratio folks um I don’t know on that one yet no we haven’t um gotten any any paperwork back on that as of yet super cool uh we’re actually seeing some of our clients are getting uh quotes in the high sevs okay yeah I’m GNA dig I’m actually trying to dig into some of my friends if we can get 15year terms as well because the 15 year term mortgage pay has a lot less interest than than a 30-year absolutely since my plan is to get a new mortgage in about two three
(32:59) years anyways why would I don’t need a 30y year yeah yeah yeah that’s interesting yeah okay High sevens you said High sevens or low sevens uh I have a have a text from a client who got quoted High seven for a refi okay I’m sorry I’m just scroll through my text to look for yeah High s is in 799 but that was a few weeks ago I know rates are on their way down and we see see a rate cut probably in two weeks as well so yeah so 799 is is technically High seven yeah it is pretty high seven I say that qualifies but again that was about
(33:41) a month ago so likely uh that was actually uh early August so likely it’s lower now and it’ll be lower in two weeks so yeah and we’re because we’re in a middle of a right cutting cycle in the states as well as well as here do you want to explain what subject two is uh I mean you probably have more experience to it than I do because I think you’ve been through the process yeah okay so my experience it seems it varies uh but in my experience uh it is where the investor takes title but the seller remains on mortgage and
(34:15) essentially the the the investor will make payments directly on behalf of the uh of the uh seller umh so for any investor listening to this knows well you know I’m P I’m naturally an empathetic person so if someone offered that to me like well here let me offer to you Megan I’m G to buy your house I’m going to take title but you’re going you’re going to hold the mortgage and I’m gonna make the mortgage payments on your behalf how’s that sound would you do it and that means that well if for me that means like a lot of these owners
(34:48) are in a point of desperation right where they don’t have any other options they don’t have the funds to pay the mortgage so yes it’s a better option for me at that point in time could be but but I think for most people at least people that I’m normally talking to they can just sell the house pretty quickly like most people I deal with like my own my own like you know the four houses I sold this year I sold in an average of 22 days oh wow that’s great would you would you think that I would accept those terms yeah no you
(35:16) probably would you probably would not but I do feel that because you’re so heavily ingrained in real estate you know so many different strategies where the average person doesn’t have any clue to all these different strategies of what’s available to them oh absolutely I’m actually going to go real estate uh oh cin Ohio real estate days on Market see how fast I can get that because uh again uh a Canadian context for Real Estate is very different than an American’s context uh like for example Phoenix Arizona which is a market I’ve
(35:44) been monitoring closely yeah uh days on market for a single family house is like over 50 right yeah uh you know I’m in Hamilton I think our average days on Market is 26 days yep you know live in Hamilton or Phoenix it depend depends on what season you’re in summer I don’t want to be in Phoenix too hot so median days on Market according to red fin is 42 days for Cincinnati um Cincinnati Ohio so again context folks uh you know if you’re if you’re in a major Center in Canada I’m sure it’s a lot less than that my point is that in
(36:24) the softer Market more creative de um strategies can work better right yeah absolutely um I mean we’re invested in the mexo market too days on Market average probably 525 yeah year and a half yeah I’m not joking maybe for maybe for another time we can talk about the business case for how you got into Mexico but you’re going to be fine right we’re going to be totally fine we had enough of a buffer that we are totally fine we are totally fine yeah without a doubt it’s going close to plan somewhat close to plan um completion the completion of the
(37:09) project was significantly over plann um it was a really unique learning opportunity because the building is so different there so we we take things down to the studs in Canada well they take things down to the concrete in Mexico like the building is everything is so different they say that they’re coming to put in beams on your prop property there’s actually a welder in the back hand making the rebar beam that is then going to be poured with concrete like it is a completely different experience we learned a ton we did think
(37:40) that we were maybe potentially going to do a couple properties because there’s um so many dilapitated properties that do need some updating um and the margins are quite good but just the just the time on Market it’s just it’s so slow so we will not be doing another project down there right now we do have our house listed for sale it is fully completed as of now um and yeah we’re waiting for a great buyer um probably a US buyer to be honest that is leaving the US and moving to a more affordable market and they can buy a completely
(38:10) renovated House downtown in the downtown core for $450,000 US Dollars Andor what city uh it’s a city called ketto which is uh just over just about two million people I’m not going to try to spell that but wow two million people it’s huge you I mean it is a it is thriving booming City you can go to IKEA you can go to Costco you can go to Sam’s Club like it’s got all the normal amenities that you would think in a large it’s q e r e t a r o San Diego de yeah San Diego dto just going to do this quick screen share yeah listeners we’re on zoom and
(38:57) so we able to do these things let’s back this up about two and a half hours Northwest of Mexico City interesting yeah big beautiful city yeah yeah I’m ignorant on Mexico but I imagine there’s a good number of cities that are 2 million plus oh yeah yeah absolutely so it’s the second second safest city in Mexico um yeah big sprawling city um tons of development and growth moving from there uh following Co a lot of people moved from Mexico City to uh that town as well just to get out of the bigger city um and we we actually spent a year there so
(39:40) when we started this project in Mexico we were actually living there at the time okay we don’t have any we have we’ had only a small number of Mexico investors on the show what is the legal title like you’re probably thinking of the legal title on the beach properties and I believe it’s aund I can’t remember what it is 100 kilometers from the the beach line you can’t actually technically own is kind of like a leas land and that’s probably what you’re referring to um but we hold legal title there okay and it’s simple to understand
(40:11) title system I would actually say that the due diligence that’s done in the purchasing process in Mexico is actually better than in Canada like it fantastic was it was done so well you know everyone is there everyone is signing together it’s a very long drwn up process nothing moves fast in Mexico as you can imagine um but yeah we felt very safe in our decision right yeah this is why I’ve stayed out stayed out of that area Mexico and sou I just I I like things done quickly I think my business values and speed of operations is just
(40:43) completely different than that culture yep yeah 100% yeah yeah and hey you’re kind of saying that with your own actions you’re going to the states instead of doing more 100% yep very cool exactly now now something that uh I’ve always worked on is just understanding myself and what I’m willing to do like for example I’ve St many time on times on the show like um let me start off with there’s a there’s a a warm Buffett quote that I always lean on and I explain to every investor when they’re early on in their Journey it was
(41:15) actually a question posed by Tim Ferris to Warren Buffett it was along the lines of I have a million dollars in cash I want to invest it but I’m really busy with what I really enjoyed doing for Tim Ferris at the time it was his podcast it was uh startup businesses invest being Angel Investors those sorts of things and his point was I don’t have time to be a professional stock person Warren’s response was if you’re uh if you’re not willing to invest 15 hours a week uh researching stocks then put it in uh like the S&P
(41:46) 500 Index Fund a che one mon low fees and go back to go back to your day job right go back to your family right and so I give the same analogy for real estate investing if you’re not willing to invest at least 15 hours a week in your real estate business you are thus an amateur a passive investor go go do something simple be happy with market returns go back to living your life go back to your day job right and I’d argue for Real Estate you need more than 15 hours because of all the on-site work requ onsite VDS required like earlier
(42:16) you talked about having to go to like investing in Edmonton once in a while you need to go on site right for my own clients I who lived an hour away from their properties in Hamilton if they had major renovation going on my advice to them was one site visit a week right you have to make sure getting done right so we’re well over 15 hours a week yeah yeah yeah and I think that um the the people that are have no problem with that 15 hours a week that are ready to get gritty and do the hard thing and things like that they’re the ones who
(42:47) are going to be successful because it’s it’s not passive it’s takes work whether you’re analyzing deals or doing a site visit or vetting a contractor like all of it is all of it in my opinion is work now it’s work I love yeah absolutely love um so it doesn’t feel like work right when I take a look at my corporate career I mean I loved my corporate career until I didn’t and then I was just bored with it and I was over it um and I had a bit of an identity crisis because I thought like oh my gosh like you know at that point you are the value
(43:15) of the name on your business card and all of a sudden you have this identity crisis thinking I’m walking away from this and I’m going to this but then you realize that this lights you up so much more and it’s so much more engaging and exciting that it just allows you to push sure you go aside can you tell us more about what what a successful active investor what kind of traits they have because part of I I’m trying to get distract from you is um because I the part part of the show is for people to well part of the point
(43:43) of the show is to be like a ginormous Buffet of options but also part of that is for people to understand themselves right for example I’ve had Ultra successful workaholic investors on the show folks like for example my friend Ryan uh he for a decade 7 days a week 7:00 a.m. to 7:00 p.m. he was working right that was what required for him to be that successful the point of having someone like on the show is like are you that right if you’re not then find some level in between here and there that you are and and be that right I think it’s
(44:22) really important for investors to recognize their strength and weaknesses without a doubt and and as soon as you start kind of doing that high value versus low value tasks and recognize where your strengths are recognize where your weaknesses are and start Outsourcing some of the weaknesses that’s what makes a successful investor because you can’t do it all right I look at these large corporations that I used to work for and they had an accounting department and they had a marketing department and they had an operations
(44:46) department and they had a customer retention department you’re you are that for your entire business and there’s no way we can be really good at everything so I think recognizing the high value versus the low value is what makes you successful and then Outsourcing that low value to get support on him I always remember one of my lessons from watching the the uh The Apprentice Donald Trump show the first season was the gentleman uh his name is Bill the gentleman who won was the only one I thought on the show that was strong in almost every
(45:15) area of business interesting HR people uh sales marketing operations a lot the gentleman he lost the gentleman who came second place was a salesperson M and um and no fault of him he was brilliant at what he what a special skill was but he lacked operational skill right my point is that you know there are those that was the entire show there was only one who I felt was strong in all areas of business yeah so that does exist out there it does for sure that but if you’re not I think people need to recognize within that they’re
(45:53) not all those all those things and need to be able to back fill those areas either Source partner whatnot because if we look at who failed who’s in the media and who failed a lot of them were brilliant social media influencers whatnot great at raising money couldn’t execute an actal portfolio y right and they they didn’t see that like they had a blind spot they didn’t see I would argue you and I would see it though yeah I I mean I the reason I only do work one to one is because it’s vulnerable when you tear apart your
(46:25) business yeah it’s vulnerable it does not feel good all the time time MH um and so I don’t do anything group I just do one to one because yeah we’re going to get into the nitty-gritty of it all and we’re going to peel back the layers and see where you’re sitting yeah because your clientele is typically uh there has to be high margin in order to afford staff to be able to delegate to yeah yes you do need to have cash flow in your business for sure but you also need to know um if you have cash flow in as well right so that
(46:57) that’s another thing but two but I do also love the fact that there are so many fractional positions coming available fractional CFOs fractional marketing people Vaas that you can hire like you can actually bring people on for a relatively affordable cost if you get really clear on what that person needs to do they’ll be able to execute efficiently can you give us like a working example that you’re working with someone now who’s doing these sorts of things using fractional sources vas whatnot yeah absolutely I’ve got clients
(47:25) that um a couple different clients uh one client um has realized that uh they can’t do all the site visiting like you were just talking about you got a development project going on you need to start Outsourcing that and so we take a look at the site visits as a lower value task than say the capital raising um and so he can go this person can go do a site visit as long as you’ve created the standard operating Pro operating procedure and a list of things that that person needs to go through the way that you would do it then that person now
(47:52) does the site visits and we have hired that person they have ramped up their hours they were train them accordingly to the first 12 weeks of training um that person is now up and running in the business reports back through the project management software to the owner the owner stays high level it’s really efficient brilliant now now my first thought is like I think about epic Alliance and all the folks who invested in Saskatoon and did no you don’t have to go like I wouldn’t have flown out my top of mine I would have hired a home
(48:22) inspector and go look at it right I don’t need to I don’t need to explain to them what to look for yeah great I pay you you protect my interests go look at the [Laughter] property down house like let me know about it windows are boarded up that’s not a good thing that’s good fire code or city code oh really that’s what it’s like okay yeah yeah yeah absolutely yeah we like I said we’ve got these development projects going on in Edmonton and actually one of our shareholders has actually decided to move out Edmonton to
(48:58) be boots on the ground and see the project every week and um really learn the process right they’re really investing in their own education which is incredible fascinating now being having I’ve spent a lot of time entrepreneurs I think it’s interesting to see uh some people are in it for the money some people are in it passionately whatever business this is across everything not just real estate some people really like their industry right I have a friend who uh has has dozens of painters on staff and he loves house paint M okay right
(49:29) and you know I know some people who are just in that business because it makes money yeah right what are you seeing among your your entrepreneur clients uh as far as like different Industries you mean in terms of not so much industry but what is it that drives them oh yeah that’s a good question um because if you’re not driven you’re gonna be doomed it’s 100% true I mean we talk often on coaching calls around the Peaks and the troughs of Entrepreneurship because it it’s not a straight line right like it goes way high way low I
(50:02) mean yeah what drives them is the internal burn for success for themselves yes I mean I’ve got I’ve got clients that are building safe affordable amazing homes for people I’ve got other clients that are building beautiful dream homes for people I’ve got other clients who are working in Immigration um and get driven by the fact they’re helping someone achieve their Canadian dreams um and so a lot of people have that internal burn themselves but most of them are just motivated for their own success sure it’s the the benefit is
(50:32) that you you provide housing housing for people and stuff too but I think a lot of these people just have that internal burn that a type driving um that they are committed to their own success I think it’s the ultimate when you can you like making money and that’s part of your drive and you’re also in something that helps people and if assuming that’s part of your drive yeah yeah absolutely I mean I used to affect change for thousands of people through the work that I did in the operating room um as far as reducing surgical
(50:59) sight infections and preparing people for surgery in a safe A Safe Way um but I feel more impactful now working with one small business owner helping them to make their dream come true than I did when I worked for thousands of people making surgery safer sounds like you could good work both places yeah no I’m good I’m got on the corporate foray now um I’m in I’m in an office cond right and I met a gentleman um who has an office across the laneway from me and I asked what do you do he goes oh we um I’m a counselor for leaders of churches
(51:37) I’m like those are those are people are among the closest to God how come they need help what he told me was was that uh these folks put so much effort into the work uh that he actually works on them with their their typically their marriage relationships because they put so much of themselves into their work that when they get home they’re just done they’re topped out they don’t really have anym anything else to contribute um in terms of relationship building right back home my point is where I’m trying to get
(52:08) to is what kind of blind spots do you see within the entrepreneur uh between the business within business owners boundaries people have trouble setting boundaries might be something that you’ve been through Jerry gives me about like she’s posted on social media where like we’re at we’re at Home Depot on date night cuz we need materials for a ridd project somewhere yeah y boundaries right like we really struggle with boundaries because so much of our life and our work is woven into one and we have that internal drive for Success your partner
(52:43) has that internal drive for success and so it just gets automatically P pushed in and I think your point on the um the counselor is a great point because you give so much of yourself to others that often we don’t leave time for the other things that are actually more important because you’re just at the end of the day so beat I think jessiee it’s says it the best and he says what does he say he says um I will never be too tired for my kids so if my kids want to throw a football at the end of the day even though I’ve worked a full shift full day
(53:11) like whatever it is that he’s done that day he’s like I will find the energy to do it and it’s a good reminder for us to be like oh yeah because often we do get wrapped up well I forgot to put boundaries in today I worked for 12 hours and I’m super excited about the project but now my kids need my attention but I’m also really tired and so I I like that take of thinking oh yeah right just a good reminder to set your priorities straight he’s got energy for days because he runs Ultra marathons so oh yeah he’s got energies for days and
(53:38) because he only eats food until noon does he still as far as I know haven’t seen a social media post updating that I don’t know I don’t get how he gets enough calories I don’t know he’s a right that we love following him because like like like if you if you ever hug the guy he’s very substantial like he’s got lots of muscle on him so for for the amount of calories he from what I don’t know what exactly what he eats but just face value what he eats I don’t see how he gets enough calories to sustain themselves but again there’s always
(54:11) special folks out there there’s always special folks now you mentioned Partners now I think that’s another area that a lot of entrepreneurs especially folks who are in the media who’s who are for all the wrong reasons have screwed up on what what makes a good partnership that’s a great great question um I I can be many things I can be romantic well like in my case my business partner is my romantic partner too yeah yeah that’s sure you answer however you like yeah for sure um I think that what makes a good partnership um people with aligned
(54:45) values and goals without a doubt clear communication is a must um and go I think going to the other person when things like let’s use the example of a project right maybe a project timeline has been significantly delayed due to some other reason um the communication and how you navigate that will set your partnership up for success or failure and I don’t see enough Partnerships in good communication with each other respecting each other going together when times are tough if they can’t get together when times are tough then they’re going to
(55:27) they’re do crumble yeah yeah not all properties and not all developments are success stories right some of them are there’s bumps along the way there’s hiccups due to things that you can’t control look what happened during Co with all the backlog of supplies like there’s things that happen right if you can’t communicate during those tough times then it’s going to be a pretty rocky road for you what about like skill sets are complimentary anything yeah complimentary skill sets um are fantastic I actually have a
(55:57) corporation with nine shareholders in it and we all have very divided skill sets and we kind of etched people into a specific role to begin with and then they really morphed into their role and picked up additional skill sets along the way and I think that when we really play into where their strength strengths are and take them out of their weaknesses the company can grow it’s it’s thriving because of it but because we’ve gotten really specific on where everyone is excelling [Music] it seems to be a bit of a debate in that
(56:29) area as well like should people work on their weaknesses or just play to their strengths like for example Cher and I belong to the same nonprofit board she of course is the finance chair I’m in the integration chair so mine is my role is more for onboarding new people new members to our organization we’re both in our strengths we’ve just both discussed planned uh for being in areas that really put us out of our comfort zone what do you think yeah I mean I think there’s Merit and perks to both sides to be honest I think
(57:02) both sides you can excel in in time if you build the systems and things but I also kind of feel like depends on where you’re at in your business right I am like you said before I’ve got a lot of things going on I’m busy it’s not the time for me to play into my weaknesses right now it’s the time for me to focus on my strengths so that my businesses can grow exponentially um and so I think that there’s a there’s maybe an e and flow of when you say hey you know what this is an area that I am not good at I’m going to start nurturing this area
(57:30) right now because I want to get better at it and there’s other times where you’re like you know what I just need to focus on the things I’m really strong at and I’m going to focus on those so I think there’s a time and a place for all of it I do like working on weaknesses I do it in other areas of my life all the time um but as far as the business development stuff goes I’m in an area right now where I’m just focusing on strengths now we you touched on it earlier and I think it’s a common issue is um how should business owners entrepreneurs
(57:59) allocate their time and where I’m going with that is for example I’ll see typically newer folks to the industry be really ambitious y I’m going to develop this 40 acre property an hour or two hours away from a home maybe it’s not that many maybe they’re going to build 30 houses on a small small lot right hour two hours away from my home never done it before I have a full-time job n eight like an to six type of job of kids yeah do do you see these types of things yeah without a doubt um I often to be honest I often see people start smaller
(58:37) than they really should like I’m going to buy one property this year when in actual fact they they could buy two um and so I do often see people start like you know we’re talking like the mom and pops the people are just starting right I see them play a bit smaller than they actually can as opposed to going too big too fast although I do also talk to entrepreneurs they’re like oh yeah I’m gonna buy my first deal and it’s going to be a 32 unit build and I’m going to do affordable housing like okay have you have you vetted any contractors before
(59:04) have you do know how long it’s going to take to do surveying and rezoning and um so built one house before yeah there there is a bit of that but to be honest I think it’s in general more people paying smaller than they could be MH so you should buy two houses and Whistler instead of one oh man if you can buy two houses and Whistler like you’re doing great can retire already retire yeah you can retire I mean you can’t rent them out but you know it’s funny someone had made a post on a Facebook page today about Whistler
(59:35) rentals and they had a picture of a beautiful home um and it said $21,000 for the month um for this outstanding home was four bedrooms four and a half bath this home is probably a I don’t know $6 million home like it’s it was gorgeous and of course everyone was commenting just slamming the post right like oh yeah I’ll rent it with me in my 4 4 friends and maybe that would be semi affordable and I’m like you arrogant people have no clue even if they bought that home 10 years ago the $21,000 a month like is not even going to touch
(1:00:09) you know the between the mortgage payments and the cost of keeping that up and the the heat with those scouring um those super high 30 foot ceilings in the winter the heat the electric baseboard heat that we have in Whistler ridiculously hundreds of dollars excuse me your Elric yeah we don’t have a lot of gas and Whistler it’s mainly baseboard heat most of those are all 80s builds so couldn’t get a pipeline built this is Canada most he in all electric um so it would just like it just kind of made me shake I didn’t
(1:00:45) comment because I’m not into getting into debates like that but I was like you know the cost of those properties the cost to maintain and keep them and yeah the nightly rate in during the winter yeah $21,000 actually seems like it’s on par crazy yeah oh so in your in your uh the example you gave uh folk you you thought folks were two playing too small buying one property versus to what Market did you did you have in mind when you were talking to that oh I mean that could be that could be anywhere from Ontario to Alberta to the United States
(1:01:22) these are all just you know different leads and things like that that I talk to off often and so um I actually see like I said I see more of people being conservative and playing really small as opposed to thinking hey like how could I buy two properties this year I can buy three properties this year and thinking a little bit bigger expanding their thoughts got it now I’m going to have a guess that you had you helped shaped uh helped shaped uh the real estate resilience Summit it’s called The Business Edition a little bit to do with that
(1:01:55) yeah absolutely tell me more I was a i attended the real estate resilience Summit last year also um was able to share the stage with Elizabeth which was fantastic um Elizabeth and I have since collaborated on this with the with the addition of Victoria Clooney which is absolutely amazing and we have really taken a look like we dug so deep on this you guys for this year what do investors need and so we took it based on what Elizabeth hears in the field what I hear in the field what Victoria hears in the field and we built it
(1:02:24) around what we think investors need right now mhm they need information on how to get to the US because that is a Hot Topic right now they need information on how to run their portfolio as a business they need information on how to continue to grow their marketing um and really understand their brand and their branding and so we took a look at all of the topics that were kind of hot topics and we brought this Allstar panel speakers there you are right there um Allstar panel of speakers to really help people with
(1:02:52) where we felt they what they needed over the past year and this is based on what we have heard in um yeah what we’ve heard in the industry so yeah sorry go ahead sorry no I I didn’t know um I didn’t know Manny Maller was involved with gobundance yeah I think um she I can’t remember what her role is off the top of my head but yeah super cool I actually modeled small Mastermind group of my own after co-funding oh yeah oh fantastic we couldn’t afford their their trip so we called it ham abundance as as an Hamilton abundance yeah and then as the
(1:03:32) running joke we we’d only do things we could find on group on oh gosh that’s funny because the reality thing is is that investors even successful ones are quite Frugal yeah yeah well especially even right now right there’s less less margins for people to play with and things so way less way less yeah so yeah so we’re so really excited about this year we really think it’s you know coming to the market at the right time I I actually love the digital Summit I’ve got young kids it allows me to actually be fully involved and um invested in a
(1:04:04) conference without um the travel the expenses things like that yeah and also keeps the cost down keeps the cost way down right way down right I attended the multif family conference last year too and you can attend this for just a couple hundred dollars um the other thing we did is we also brought a lot of us speakers in because we wanted to show some new faces to people oh yeah some big Canadian faces too like Daniel yeah yeah big Canadian faces big us faces um new faces for people and we just went to have a little
(1:04:34) bit of a fresh take on it I’ve been following Daniel Kong since the pandemic on Instagram yeah yeah right on and he’s in Hawaii he’s in Hawaii yeah and he has got a very significant size portfolio he does he really does I can’t remember how many doors as of right now and then you know we got David RoR with that fractional CFO title as well um and just kind of really taking a look at the business finances of your operations so who would benefit from coming to the uh real estate resilience Summit any intermediate to Advanced
(1:05:08) business owner or real estate investor so we really designed it with the two the te two themes in mind both businesses so just general entrepreneurs as well as Real Estate Investors as well like you and I were talking before we start recording is there there is very few people in Ontario BC or Quebec who are adding to the long-term rental portfolio take Foria cloney for example like she’s focusing on like manufacturing tiny homes and and Tiny home Community that’s more of a that’s more of a business than than traditional
(1:05:38) long-term rental investing absolutely yeah uh and and like my good friend Andrew Hines like I don’t think he owns a long-term rental anymore in Ontario he’s focused largely on his uh his recreational properties near toomore it’s all and it’s all short-term rental well I think it shows people that there is opportunity out there still but you need to get a lot more creative more creative but also my point is like people aren’t putting money into long-term rentals in Canada other than outside of Alberta yep apologies to folks in
(1:06:10) Winnipeg I’m sure there’s some good stuff out over there as well but but generally just what’s getting what’s most talked about is generally Alberta for Canada 100% I mean we just take a look at BC alone right like it’s near impossible to bring rentals to the market right now sure love to providing more housing w we have a massive housing crisis and we’ve had it for 20 years since I worked there as a ski instructor 20 years ago um it’s been like that forever but there’s no opportunity for more housing unless it’s Whistler
(1:06:38) Housing Authority that’s stepping in to help right and it’s largely a function of nism I in the swing is too high I was in gu just recently and U my friends from from guol were telling me that the the city bylaws don’t allow anything taller than a certain building that’s already there like they’re that restrictive right yeah if you want density you generally need to go tall but the restricting density yep restricting growth in general so yeah I think it’s gonna be a great conference for any of those intermediate to Advanced both business
(1:07:09) owners um as well as Real Estate Investors and we are really excited about bringing it to everyone and where can folks get more information on the real estate resilience Summit yeah you can jump right over to the website that you’re on right now real estat resilience. CA grab your ticket there or you can also find us on Instagram if you have questions and where can people learn more about your coaching yeah you can jump over to Megan hub.com it’s Meg h n HB NE r.
(1:07:37) com there’s my website popping up right now and I’m most active on Instagram fantastic oh and what’s your Instagram handle Megan hubner easy peasy yeah exactly thanks so much for doing this Megan yeah you’re welcome thank you for having me so much everyone I appreciate it can’t wait to follow along your your your trip homeschooling your kids oh my gosh yeah so many things on the go but it’s uh it’s going to be good um you know I actually received an email in my inbox from some from an someone that I follow on Capital raising the
(1:08:13) other day and she said if you’re feeling overwhelmed the overwhelm is the abundance of everything you once dreamed of and I was like a it hits so hard I was like that’s true it’s where you wanted to be yep yeah yeah it’s not always easy yeah exactly I mean you guys have been entrepreneurs for a long time so you get that oh yeah it’s been fun but you know we’re very grateful for our real estate portfolio because without it we wouldn’t be able to afford to live the way we do yeah yeah for sure fantastic well thanks
(1:08:45) thanks for having me despite being a cold [Laughter] guest uh Megan uh we are again we are in the middle of middle of a real State winter and uh real gdtp per capita per Benjamin tall Chief Deputy Economist of CBC we are in a recession based on real GDP per capita the Americans look like they may vot a recession they may go into recession who knows uh what what are your what are your do you have any final thoughts for the listener if they’re afraid if they’re excited what what what do you any final words yeah I
(1:09:21) mean my final thought is just to make strategic decisions based on research that you have done not just recommendations from other people um I do think that you know really leaning into going with your with your gut after you’ve made those decisions and you know stop operating in so much fear stay I tell people all the time stay with your horse blinders on stay in your lane don’t look Al don’t look around to what everyone else is doing take a look at what you can accomplish in this next little bit um because it’s really easy
(1:09:54) to either diminish our success or say that we can’t achieve the hundred doors that so and so has done right even if that’s not even your goal so I really say just like stay in your lane stay with your head down stay focused on your own goal take in the news to a certain point so you know what’s happening in the economy but don’t let it completely stifle any decision that you’re making right there are still opportunities out there it’s just a matter of uncovering them right and a lot of L of the best businesses are born out of recession so
(1:10:23) 100% yeah 100% fantastic all right thank you again Megan for doing this yeah you’re welcome thanks for having me thank you for watching if you want to learn how to invest in real estate from scratch my team teaches beginners how to use the number one investment strategy that I personally use in a virtual free training class every month go to investor training.
(1:10:55) com starting out feel free to ask questions and comment below and I do the best to answer each of those comments and questions myself again if you’re ready to learn the nitty-gritty about real estate investing from a professional investor register for our next virtual class that’s at investor tr.com

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