**Transcripts are auto-generated.

 

Erwin  

Hello, my fellow real estate investors and stock investors, they get a wealth hackers. This is the truth about real estate investing show. My name is Erwin Szeto. And speaking of wealth hacking, our conference is coming up on November 12. And it will be the event of the year just like it was in 2018. And I’ll let you in on a little secret cherries second, yes, second 20th birthday is coming up. And because that’s two times 20, we have a 40% total off the price special for chairs, second 20th birthday on August 5. If you’re on my email list or social media, you’ll be informed of the promotion when it drops, please do make sure you’re there at the conference and bring those who care about because straight up, the future won’t be easy. I don’t imagine any generation pass our own will make more money than us. So you’ve hopefully you’re taking care of them as best you can. And those you care about are taking care of all their kids and future generations. So as an observation, I always have observations. Do listen to the show, you know, I always have observations. One of them is that one’s willingness to get outside their comfort zone is an indicator of future success. Unless one is taught other lessons while growing up. That’s actually a big benefit. This is an observation I made. For example, our last guest on the show comes from multiple generations of successful entrepreneurs and investors. Hence, they’ve amassed enormous amounts of wealth. So for those of you who are successful real estate investors or stock investors or entrepreneurs, just imagine all the lessons you can pass on to your your children and your grandchildren. For example, the owner by kickboxing gym, his 16 year old daughter would beat my ass kickboxing thanks to world class coaching from her father, who is a retired fighter 37 Professional winds combined with her years of hard work. Note that my ask is not that much to brag about. Thankfully, our kids have adapted to new learning. Not exactly sure what we did, right. But two weeks ago, when we dropped them off at their first week long overnight camp, they were excited leading up to the lead up to the event and the drop off. And when we did drop them off, not once did they look back, he hugs their goodbyes. And they walked off with their stuff to their cabin. We could see them for another minute or so just walked away, never looked back. It’s an odd feeling of sadness, leaving us and not caring. While we’re happy that they’re acting all independent. We also talk to our kids about money, investing in stocks real estate. My son said that you’d saved up like $80 or something, I said, we’re gonna go buy a bank stock, which pays dividends. He knows enough about passive income, that he’s all over investing also about our charity as well to help combat greed so they understand how lucky we are. And it’s part of our duty to give back to those who can’t. Because there’s many out there who don’t have money for food and clothing. I can’t say I know what we’re doing. But I feel it’s the right thing to do. Speaking of being out of one’s comfort zone, today’s guests, my old friend Ryan car, Ryan and I go way back, we actually mastermind together for about three years in the same group. So he’s back on the show, we share and we have common beliefs and values. For example, we both share the practice of seeking highest and best use of our time and capital. However, he’s more aggressive and ambitious than I am and hardworking that I mentioned that. When I think of Brian, I think of hard working. For example, just until recently, he used to work seven to seven every day. So that’s 12 hour days, seven days a week, for 10 years. He runs a lean and mean investing business. And he’s been a lot of money flipping 60 houses duplexing gardens reading several bills and development, small apartment building, Tiny House short term rental cottage has his own renovation team on payroll. He’s done basically everything under the sun almost forgot. He is one of nine. He is one of the stars of HGTV newest show on our house flippers today Rachael share how it all came about, including you share some behind the scenes experiences are working on each and HGTV show in some really gross, unsafe hoarder houses. Now, if you don’t know what a hoarder house is, it’s people who just collect stuff over the years. So if you didn’t make any, if you didn’t throw in anything for the last 10 years, imagine how much stuff you’d have in that wouldn’t be hygienic, that would be a health hazard. That could be a safety hazard too. Because these things if you have if you have belongings that stack up at the ceiling, that could potentially fall on you, and you might get buried alive. Imagine that being impaired a library or player buried by your possessions. So again, Ryan’s here to share what kind of projects he’s investing in right now. He’s also writing a book and starting a podcast on the subject of highest and best use of real estate. So you want to pay attention to what Ryan shares because in mice in my observations, I have lots of them. Beginners often get this part wrong. They’re not the most efficient because they could be with their time and money. And not maximising the returns. Please enjoy the show. Hi, Ryan. Thanks for coming in. Today

 

Ryan  

Hello, thanks for having me.

 

Erwin  

Oh, what’s keeping you busy these days? What’s

 

Ryan  

keeping me busy? Lots, lots. TV show, number one, still an active real estate investor very much. So number two, a little bit of personal time, which is kind of cool. Number three.

 

Erwin  

That’s a mouthful. People have no idea how busy you are.

 

Ryan  

I am an actual active investor. Yes. For real.

 

Erwin  

So we’ve known each other for a while and you’ve been on the show. This is probably the third or fourth time I think, as long as I’ve known you. You’ve been a seven to seven investor as in like 7am to 7pm. At a minimum, yeah. For how long were you doing that?

 

Ryan  

I was doing li Yeah. I’ve been investing for just over 10 years since 2012. So I was doing those hours or more for the majority of that time.

 

Erwin  

How many weekends? All of them, and you’re still married? I’m still married. You’re married that whole time?

 

Ryan  

I was married that whole time? Oh, yeah. 2020 13. So almost that whole time. Yeah.

 

Erwin  

And first of all, you just

 

Ryan  

follow me personally, personally, I had a conversation with somebody the other day, and I was at the dentist office, I was telling this. And my we got to chatting and I went to, I’ll back it up when I was a mechanic I got laid off from from doing that job. And I was on unemployment for about right. So I had a chance to go to the school where they taught you to be an entrepreneur. And I met this girl who wanted to start a dental practice. So I go to her dentist’s office, and depending on how tired I am, when I’m laying in the chair, that tells me if I’m working too hard or not like that has been my metric. So if I’m laying there, and I’m like, oh, man, this is so relaxing, I need to take it easy, then I know how I need to pull back. And if I’m laying there, and I’m a gung ho, then I know that I can give it up. And it’s just it’s just one of those ways that for me, over the years, I just, I don’t know, I just kind of adopted it. Because going to the dentist is historically not fun or not, you know, getting your teeth drilled. It’s not fun. So laying in the chair, I’m like, okay, cool. This is this is like this, this like intuitive guideline inside of me that says, hey, either you’re working too hard, or you’re good to go. And I was talking to her and I said, like, how long have we been on the school? And, and we just got chatting about that. And she said, How long have you been doing real estate? And I said, Well, just over 10 years now. And she goes, How many hours a week do you work? And I said, like, a lot of them? Right? And I said, for every one year that I’ve been doing real estate, it’s like if put in the hours for two have been doing it for 10 years, but I’ve put in the hours for 20. Right. And I do attribute a lot of the time spent to my success today.

 

Erwin  

Right. I think that’s a great point. On your level of knowledge, hard work, and mastery, you have the subject, because we’re going golfing after this. So the golf analogy is, you know

 

Ryan  

how this year by the way, so the interesting round,

 

Erwin  

right? And you want to golf today, you say oh yeah, golf the season? Yes. Once Yes. It’s like, you know, I’m a real estate investor, you know, say I’m three, whatever, whatever properties don’t care. I’m a real estate investor. So as Ryan Ryan has also a real estate investor. It’s not the same thing. Right. Just when we’re playing with Ron Jeremy today, yeah, he plays four times a week. Well, he’s gonna slaughter us, or he’s gonna destroy it. And I bet him money. My point, though, is also is that again, it’s we’re not the same. Yeah, right. So I think the another analogy I give is my car, my German car, and we’ll name it and JC Sumi, is, it has GPS, check the box. Right? But it sucks. I never use it. Yeah, it’s plug in my amble and your phone? Yeah. All right. But my point I’m trying to make is I see all these investors who say, Oh, I’m secured on title, I’m safe. And like, is that the only parameter that you need to determine your level of safety and security on an investment? Yeah, I just went on a bit of a tangent there. Like you measure risk, like, as an observer, one of your skills is you’re good at math. And good. Being good at math is being able to judge quantify risk. Yeah. Do you agree?

 

Ryan  

I do agree. Like you mentioned being on title. So like, you can be on title and the house is worth half of what you’re secured for, like you’re on title, you’ve done the thing. Yeah. But that doesn’t mean that

 

Erwin  

you’re safe. Exactly. And what else is on title?

 

Ryan  

Right. There can be 10 mortgages there and you can be the person last in line. Who knows? Like, you got to bet on the jockey not the horse, especially if you’re a lender, right? It’s Yes, it’s kind of about the asset, but like, a good investor will turn around a bad deal. The bad investor will completely obliterate a great deal. You know, so it’s the jockey not the horse.

 

Erwin  

I’d say it’s all because you forget, well, I’m sure we evaluate all as a quality jockey. So I’m trying to decide, okay, if you’re a top jockey, and you’re like on one of the top

 

Ryan  

horses, likely, right, likely, right? You’ll make good decisions.

 

Erwin  

If you’re on the best f1 drivers you’re likely on a good team. Yeah, right. I don’t know if I’ll say a qualify but whatever, and just throw it out there. Yeah. If you’re a great Instagram influencer, I don’t know. It doesn’t doesn’t tell me that the horse is

 

Ryan  

good. True. Well, you look at the fire festival, documentary, right? All of these people that had great influencer accounts at the time when they were talking about this new festival that was coming and including

 

Erwin  

all legitimate art. Sure. Art and music artists. Yeah,

 

Ryan  

like all these people are talking about this thing and This thing didn’t work out. And all of these people look bad for promoting that thing, you know?

 

Erwin  

And you’ve done. Do you even know how many deals you’ve done?

 

Ryan  

6768 over 60. Anyways,

 

Erwin  

any idea the dollar amount? Total dollar volume? No. Because again, there I have

 

Ryan  

never, I’ve never added that up. Actually dollar amount of like, you know, I think my rental portfolio at its peak was worth about 20 million like that.

 

Erwin  

So again, I think people that didn’t weren’t trying to make a point in trying to make is to qualify opinions and expertise and know how to qualify a horse. qualified investment property. All right, you know, I have units too. Yeah, my unit is probably worth like 10%, or one of yours. And the amount of effort to put in is play less than 10% of what you what you put. I’m just addicted with a bunch of duplexes.

 

Ryan  

Don’t even get me started on that.

 

Erwin  

Oh, I don’t like I don’t like inside jokes on the show. We’ll circle back and not come type completely back in together because I do want to talk about that that person because yeah, whatever. Yeah. Tell us what the show that HGTV is when did they first reach out to you?

 

Ryan  

So this all started in 2019. My wife and I live in Durham Durham Region, which is just east of Toronto. And somebody had asked me to come and speak at their seminar in like the Kitchener Waterloo area. So I did Sure I’ll come out, I’ll speak you know, we’ll talk about whatever you guys want to talk about. Because I just I’m a pretty open book, right? So came out, did my speech got off stage and this person approaches me from the crowd and says, Hey, you spoke really well up there. You ever thought about doing show? It’s like, not specifically, but like, what did you have in mind? And he goes, Well, I’m a producer, with HGTV. Why don’t we keep in touch. So we did. From there. My wife and I and Kiki. We went to Corus entertainment in Toronto, which is the parent company of HGTV, Canada and a whole bunch of other networks, right? They own them. So we met with all these big execs at this, like great big table. And all these people were in here talking and asking us questions, and they’re kind of they’re feeling at our character, they were feeling at the show, we’re kind of bouncing ideas off each other, and everything was good there. And then boom, COVID hits 2020. And everything got put on hold for a couple of years. So that that was a bit of a drag, because we were super excited to do the show. It’s called hoarder house flippers. It’s finally out now, which is great. We just went through the first season. And it was a lot of fun to shoot. But yeah, that took time to get to Okay, camera go, right. Like there was three years there of waiting. And okay, we’re going and did we find the property and okay, that’s not the right property. And you know, all those things happen logistically. So, yeah, it took time, but worked out.

 

Erwin  

How long a time, you know, I’ll have to talk about it. Those couple years,

 

Ryan  

because it was all kind of under wraps for a while. I don’t know why they do that. Specifically, I’m sure there’s reasons behind the scenes that we don’t know about. But everything just kept hush hush and the show for Joe. So for whatever reasons they have I’m sure that’s that’s cool. Maybe I’ll never know. But yeah, it was all hush hush for a bit. Because I

 

Erwin  

knew about it. It was hard for me not to say anything, it was even hard because I think we leaked it on the show, but we edited it out. We did We did. We edited it out though.

 

Ryan  

We had to be so strategic to write like you knew because it was strategic. We were gonna mastermind together. And like, like, there was a select group of people that didn’t know, because I had to be on point to find properties at the drop of a hat, I had to be on point to make sure that like mentally I was in the right spot keeping I had to be on point to make sure that we were in a good place with our relationship, which we always are. So like, all of these things like our support network still needed to be supportive for that role that we took on.

 

Erwin  

And then, uh, how long between starting to shoot? It’s a complicated sub topic, because the scope of these properties is not easy. Right? Like, firstly, to find a hoarder house

 

Ryan  

man, like, all of the houses that are out there of like flipping potential, I talked to a lot of wholesalers, right, I counted the other day, I’m on over 20 wholesale lists now. Plenty. And I reached out to them and said, Hey, of all the properties that you get, whether it’s, you know, 10 a year, 100 a year. Some people get more than that. How many of these would fit the criteria of hoarder house in the area that you farm? Right? And they said less than 5%? Great. So you know, it’s not very many properties that are hoarded and ready for an off market person to purchase, but they are out there. So for anybody listening, if you find a hoarder house, we would love to film in it. You know, please don’t clean it out. Call us first. We’d love to do that on camera. You know, it makes for a great episode.

 

Erwin  

What stops you from just like throwing garbage to a host to convert a crappy house into a hoarder house

 

Ryan  

real? It’s not real. You know, people want real they want authenticity. Would you watch any of those storage shows, knowing full well that somebody planted a diamond ring in the back corner? I don’t know they do. Right? And when that stuff comes out, people are like, Oh, well, it wasn’t really real. Like it’s not that exciting. We know there’s going to be something cool in there.

 

Erwin  

I’m not TV expert because I watch very little people still watch wrestling. Yeah,

 

Ryan  

for sure. And like that’s, that’s more theatre than Fight Club. Right? But like, yeah, they want it authentic. They want it real. When we go through these houses, it’s the real deal. Like we find some stuff in there and then we go, Oh my gosh, gross stuff, fun stuff neat artefacts during an example. Anything from like, the dirtiest underwear you’ve ever ever seen to. So girls, to really cool antiques that we repurpose and like staged at home with beautiful tea cups Keke Keke starting a tea line. And in each of the two episodes that we filmed this year, she found teacups and saucers and all this stuff that we were able to stage the homes with. So that was really cool, right and she was able to put them in the kitchen cupboards behind glass and they were showcased in Episode Six, which just aired last night. We were actually able to set the entire table with these beautiful china dishes have a gold leaf in Scripture in blue. They’re really pretty. We found them in the house.

 

Erwin  

You read that careful taking the garbage out. Yeah,

 

Ryan  

there’s some cool stuff. I found like 5000 bucks worth of snowblowers and generators and lawn equipment. And one of the episodes we did here making this sound sexy. Yeah, I mean, like, like, there is a component to it. That’s super cool. And then there’s some stuff that’s like, oh, it’s kind of gross. Yeah, let’s move on. Let’s Let’s fill the dumpster with that.

 

Erwin  

How many dumpsters on average? Seven.

 

Ryan  

Home. I haven’t got seven for your bins.

 

Erwin  

Cheese. Yeah. What is your typical non flip? So you’re taking it down to the stud

 

Ryan  

down to the studs. So this isn’t even down to the studs. This is just stuff from inside the house. So we don’t

 

Erwin  

wait so seven just the stuff stuff plus more for the renovation? Yeah.

 

Ryan  

Oh my usually like one bin for the Reno. Six worth of stuff. Yeah, there’s a lot of a lot, a lot, a lot of belongings and these homes, find a lot of duplicates. We find a lot of things from 30 years ago that have been buried, you know, so it’s almost a time capsule in the house. It’s kind of fun to unearthing some of these things. I found a book from the late 1800s Of all the surveys used of Toronto, right. So it was talking about like Oshawa and Pickering and, and Belleville and all the all the surveys were in this great big book. It’s like it’s maybe two feet tall and 19 inches wide, and beautiful coffee table book in great shape. So all the pages had like that, that old mothball smell to it. You open it up and it’s just like it’s a piece of history. It was buried under all the stuff you would have never known.

 

Erwin  

So other than the bins. How does one prepare for cleaning out a hoarder house? Like what are you wearing? For example? Yeah, so

 

Ryan  

for us we’ve been able to do it in plain clothes, sometimes masks and respirators gloves, obviously. Because you never know what you find sharp stuff. But generally we’ve been okay. There has been other people that have been full hazmat suit mould, you know, wet basement like the whole bit. It’s been it’s been pretty rocky, but for us we’ve been lucky to get

 

Erwin  

I did have some free time attention to the show, but it wasn’t you guys weren’t on it was as a family in the States. Three, two brothers and a cousin or something like that. Montreal. They’re from Quebec. Oh, okay. Yep. I knew something was off their English. Prices were really low, though.

 

Ryan  

Oh, dude. I’m so jealous. So we got in the show. There’s six episodes in total Kiki, and I have to a couple from Manitoba has two. And then a couple of them are the brothers from Quebec, they’ve got two as well. So six in total. And basically in the Montreal market, just outside of the Montreal market. And then in the Winnipeg market, their houses are like a couple 100 grand. And then you come into the GTA market, and the houses are like a million bucks. Right? This is a nine day nine day difference, like the cost of their purchases, like the cost of our bathroom renovation. Like it’s just it’s ridiculous, right? It’s so it’s so different. But the essence of the show remains the same. Right? People have stuff, remove the stuff, make the house pretty. Turn it back over.

 

Erwin  

Are the sellers ever part of this? In terms of

 

Ryan  

no thing? Okay, no. So this isn’t about the people. This is about the real estate and about the house and the transformation. Right. So like there’s other shows out there that talks specifically about the people and their circumstance and all that. That’s not our that’s not our forte, we’re investors first, right? So we talk about the asset and the house and how we can transform.

 

Erwin  

And it’s your crew, then it’s it’s RW investments that’s doing this, and then you have your antique are the faces.

 

Ryan  

Yeah, so like, this is still real, like real business day to day. In essence, the camera is documenting our journey. Right? And they’re coming along for the ride. Yes, there are things that you have to do to move an episode along. Because when you’re having a conversation about a house, or when you’re actually flipping the house, sometimes there’s long gaps between progress, right? So when they’re filming, we have to be strategic as to how we bring the cameras in so that the viewer can follow. Otherwise it wouldn’t make for good TV, right? So but 95% of what we’re doing is is sequential, right? And it’s actually happening real time.

 

Erwin  

Now there’s some out there who criticise these TV shows are on their budgets. But you know, your numbers I do where you’re transparent with your numbers.

 

Ryan  

I was I was very much so so I mean like what we spend is what we spend it’s a real deal, right? If that was donated, we do get free dumpsters, which is good, but I do try to include that So like if we spent

 

Erwin  

on a massive budget, how much is the dumpster now

 

Ryan  

dumpster is like 1000 bucks each, typically, depending on the size and the weight and so on, but I mean, like, like responsive bicycle paint. So that’s kind of interesting. Sometimes we get free flooring or things like that we do get some freebies. But like, generally speaking, I factor in dollar for dollar, like, what did we spend? Let me be transparent. I think when people watch the shows, and they don’t get the full story, it gives a false expectation in the market. Right? And when I was first an investor to like, like learning how to do things, what does lumber cost? What does paint cost? If somebody says, renovations 20 grand, and then you go in the real world? And at 60? Will you start to question like, okay, am I doing it wrong? Do I what do I not know? Right? So I do try to be very transparent.

 

Erwin  

Oh, can you imagine the poor contractors like, oh, you should get three quotes and you quote all three contractors quoting like, oh, unless show is like, 30%. Less than you’re quoting me. You’re screwing me over. Yeah, contractors like one another one. Another AGT. Yeah. But you kept the real, I keep it real. Thanks for keeping real Welcome.

 

Ryan  

Welcome. I’m transparent. I always have been, I’m always just, I’m just an open book. I think you’re better to just be honest with people, right? And then, if you come on a show like this, and people ask you questions, it’s like, yeah, this is what happened.

 

Erwin  

This is what it is, let’s just whack because a lot of shows are not real at all. I remember watching a show when like one of the realtor realtor working with a couple of whatever. And like, wow, they get every single property, he always wins. This is not possible. There’s only one other offer was last time, we had one other offering up against the GTA, so I knew had context. And then you find out like, the couple already owns that house are just acting.

 

Ryan  

Yes. That’s why they wanted the house to be authentic.

 

Erwin  

Wow, this isn’t this is a new angle that they’re going for?

 

Ryan  

It’s a good question. I don’t know, I didn’t get too into. I didn’t get too into the weeds on other shows and how they function, right in terms of like, what they do, or their houses real or whatever. I just know what we’re doing. Right. And so far, the show has been really well received. And like, I wouldn’t know any different because this is our first time right? But from what people are telling us and what, you know, we hear from friends, family, people in the industry, right? From what we’re told, so I’m happy about that.

 

Erwin  

I’m glad because maybe that’s the the tone going forward that things should be more real things should be more transparent. Share, you know, if people have ownership in these things, or things are being donated, or just be frank with people, ya know, yeah, my trust is broken, right with for a lot of TV shows, because I know it’s not real, or other shows. They’re just feeding the cast alcohol, right? This isn’t real.

 

Ryan  

We don’t get to do that. We don’t get to drink beer on our show. Get dramatic. It’s funny say that. Because, you know, when we first started the show, Keith and I said, Okay, how do we want to be portrayed in that, like, we had this really real visceral conversation, and you can be like, you can be like, the disappointed wife and like the asshole husband. Or you can be the couple that bickers right, or you can be like, one person is all about the money, the other person is all about making it beautiful. And you’ve got conflict, right? Where you can be like the wholesome, genuine couple that we actually are, right? And just be real and be fluid throughout not only the show, but our life too. Right. And that’s the way we decided to pick like, let’s just be us, if people like it great. And if they don’t, that’s okay, too. You know, not everybody will enjoy everything about every episode. And we’re okay with that. But like, at least Richard, ourself,

 

Erwin  

is talking about Keith a little bit, when did she join the business like full time, full time,

 

Ryan  

so keep her in the business, I would say a couple years ago, just as the show was kind of gearing up, she was always in the background, doing like, we had done the first couple of properties together, which is cool, including a principal residence, right? When she kind of did her own thing for a bit. Then she kind of came back and then we realised, hey, you know, we really have something here. She’s got a good eye for design. Let’s come on board. Let’s make these properties. Beautiful. We’re fixing them anyways, to actually make them pretty in colour coordinate and all that stuff. We can make some extra lift here. Right? Let’s bring her on board and let’s get her. Let’s get her opinion.

 

Erwin  

Are she also working seven to seven? No, always keep rolling. I

 

Ryan  

work the crazy hours. Always keep working. She’s She’s sporadic on her hours. So she’s a little bit different. So one thing that we’ve both learned about herself, is that we operate very differently. I’m more of a morning person. She’s not she’s more of a night hawk. I’m not. Right. So like, if I get up at 6am, I’m going home like ready to go. Right? Maybe she’ll be sleeping at that point, or the sun hasn’t even come up yet. So we have to be very conscious and considerate of each other because we’re not the same, right? And that’s okay. Right? That’s okay. Knowing yourself is so important to like real estate, investing in life, relationships, whatever, you gotta know, you gotta know. And if you don’t know and take the time to know, do a test do a disc test, right? Do a Myers Briggs test, do a some kind of a personality test. I did that. And it was huge. For me. I liked the disc test just because I understand it. But like there’s tonnes out there. Just do it for yourself. And then you realise Hey, I’m more of a dominant personality or I’m more of a compliance personality or, you know, I’m a stay at home mom and this is the way that I operate, you know, whatever your whatever your thing is play into that strength.

 

Erwin  

So we actually disk everyone No Oliver Oliver companies, we just everyone Hello. And then we actually try to read read our clients as well so that we can better communicate with them. Yeah and understand them and also how we communicate with them. I think it’s interesting. I think I repeated myself. Can you share what your disk is?

 

Ryan  

Yes, I am. They asked me I forgot. I am a s. Oh, no.

 

Erwin  

What am I worth the D?

 

Ryan  

There is I think I’m a CD. You see, first CD, I’m a CD. I’m not an overly dominant personality, unless I’m in a leadership role. And I have to be a more of a more like a passive guy. I’m big on compliance, math data, stuff like this. That’s how I help justify my decisions. Right? I’m not an AI. Like, I’m not an influencer. I don’t need the flashy, whatever. For outward stuff. Sometimes I like it. Inwardly, sorry. I enjoy the things. I enjoy the flashy things for personal reasons, but not to prove anything to others. Right. Yeah. You’re a bit of a gearhead. Yeah, which is very different than having to buy you know, the convertible because you want people to see you driving down Main Street with the loudest radio, right? That doesn’t matter to me, that stuff doesn’t matter. Even being on TV. That doesn’t matter to me. Like I’m not doing it for those reasons. So people go, you know, Ryan or Kiki, you guys are amazing. We just love it like, like the accolades are, they’re cool, but like, that’s not why I’m doing it. You know,

 

Erwin  

it’s just just for the listeners benefit. Tony Robbins gives away the disc test for free. So just Google Tony Robbins, Anthony Robbins, di es, si. You can go fill out the survey and the questionnaire and exchange for your email. They’ll email it to you. So you can find out what you are as well and compares out the Ryan. See if you’re also a CD and you’re gonna make $20 million like Ryan

 

Ryan  

made 20 million.

 

Erwin  

So I brutalised your story. When I tried to summarise your summarise you two people have a young gentleman that I’d like you to meet afterwards because you’d like to see your car. I explained to him like Ryan was a mechanic. And because he’s good with his hands, he figured out how to renovate houses off YouTube, and then just took action and worked hard. And now here he is. Yeah, we yada yada at a lot there are days, seven days a week, but you’ve slowed down a little bit. Why slow down the market?

 

Ryan  

Yeah, no, not necessarily. It was more of an internal thing. So again, going back to, you know, knowing thyself, going through all of COVID I realised that I’m more on the introverted side, less on the extroverted side. Even though I do like to speak and things like that and train like, I think it’s fun. I’m more on the introverted side, and I’m okay with myself. I’m okay with like, not going out on a weekend. I’m okay with these things. Right. So on the disc test personality side that really helped me in terms of what was the question again, slowing down slowing down? Yeah, so in terms of slowing down, you know, being an introvert, I was okay with like, just taking it easy. Taking a step back, really realising okay, I’ve worked really, really hard for 10 years put in enough time to call it 20 in terms of human hours, right, and it’s time to enjoy some of the some of the things that we have, whether it’s you know, we talked about cars, so like, whether it’s cars or whether it’s hobbies or whether it’s spending time at the cottage or whether it’s just like you know, Kiki and I like to have tea and pie on Thursdays completely non monetary. You know, and we’ve been so monetary for so many years trying to figure out how do we make money? What do we enjoy things like that? Let’s have tea and pie on Thursdays. It’s 12 bucks, right? Oh, you go to the restaurant sometimes we do. Sometimes we’d go home and just like you know, get a pie from like a baker’s market or something and, and make tea in the backyard. Right? Super simple, but those little moments are what changed my focus and saying okay, if you don’t enjoy life now when will you ever do it? I’m 34 now have worked really hard for a long time 10 years plus okay, let’s chill let’s take a breath I need to headspace see cut back I’ll buy a lot Yeah, I did well like one time I think the max Hi Max properties I had I think it was 15 and I’ve cut back quite a bit so like right now we’ve got a couple interactive construction which is which is plenty you know it’s easier to manage less moving parts less capital out there. The market is changing right now interest rates are up market is down the Oshawa market which is one of the markets that I primarily invested in it’s off 26% Since last year,

 

Erwin  

so much to unpack here but you still have any buying holds you still haven’t hold the intention to hold for forever

 

Ryan  

No Not forever I’m not a forever guy. So like some people say you know what is your what is your forever home or what is your I’m like, I don’t know you’re gonna be in 10 years, right? I can’t look that far. But that’s just for me. Some people can be like I’ve got a 30 year plan a 10 year plan or whatever. I’m like a one year plan two year plan five year plan. Let’s reevaluate type of guy. So for me Yes, I do have some buying holds. Do I think I’ll have a forever No, I don’t do I think I’ll have some for a long time. Yes, I do. I do like the benefits. of owning real estate, you know, whether it’s from a tax perspective or whether it’s capital gains versus active income, like a flip, like all of these things play into my my thought process, but yeah, I’ll keep some for a long time. So I’m gonna let go, what’s the makeup of your your holds right now? Primarily small. So I’ve got one, one multi unit, and then a bunch of duplexes. A couple of single families. The single families are primarily used because I’m severing land, you know, so buy the house, split the land, eventually sell the house. That’s why That’s why I have those financing is a little bit more favourable. If you’re buying a single family home on a big lot. You don’t have to close it private, you can close it with bank fine, like things like that. And then I’ve got a bunch of land that I’m developing as well. Where’s the land through? We’re gonna build what are you gonna build? duplexes, single family, semis? triplexes, things like that?

 

Erwin  

I mean, lots,

 

Ryan  

not that many, eight 810 something that can be hard.

 

Erwin  

Are they hard? Yeah.

 

Ryan  

They just take the cooperative, they take time. They take time, generally speaking, you know, barring being close to like a creek or like in some weird area, the cities are relatively supportive of infill development, because you’re using the existing services, and close to transit spines, you know, grocery stores, whatever. All of that stuff is great. On the flip side, if you’re in a part of town, where like, I’ll give you a real example. So I bought a piece of property three and a half, maybe four years ago, right? It was my first infill development project. So I bought it like older farmhouse on a double lot in town. And I went to the town said, Okay, I want to back the house down, cut that in half and build two new ones. Generally, they were supportive, except I found out six months later that I got stuck in what was called an interim control, bylaw. And interim control Bylaw is when all the neighbours get together. And they complain to the town and they say all these developers are whacking down the old houses on bigger lots and building mini mansions, right. And we don’t like that. In our area. We’re like, alright, so I got stuck in this thing for two, two and a half years. Oh, my. Yeah. When I had the shittiest tenants in this property, they rip the cabinets off the wall and they damage the place. It was just a mess. One tenant moved out, rip calves off. So I called the police I was like, Okay, so I’ve been clearly vandalised here, right? Like, this is beyond. This is beyond just like wear and tear. Like, you know, the corners are worn off because I have a big dog. Now, like the carpets were torn up. There’s garbage all over the camera. The cops come in, and they’re like, Yep, I understand where they are tenants. I said, yeah, they’re my tenant like what they did, right? And the cops are like, Sorry, can’t do anything. If they weren’t your tenants, then we can find these people to press charges. But because of your tenants, they’re basically protected. And I was handcuffed, not physically. I was handcuffed, like the property. Thank you for clarifying. Yeah, yeah. The property was like physically handcuffed. I couldn’t do anything.

 

Erwin  

I’ve actually spoken to a police officer in our community. And he says they can really It’s interesting. It’s just again, it’s they’re open opinion. Yeah, how much work they want to put in, I guess,

 

Ryan  

I guess. So like that, you know, shit like that. That really sucks and gives me mad. You know, I was really good at these people. As a landlord. I try to be really good at the tents to get people to get back to you. Right, unless they’re unreasonable people to begin with. And you just can’t reason with that. Yeah,

 

Erwin  

sorry. Just to clarify my case, I had a witness. No, I’m one of the random roommates. But still cops were called and they wouldn’t do anything. Yeah. But again, it depends on who you’re talking to. Yeah, yours would be tougher because he didn’t have a witness. Yeah. See, I like I like context that I keep telling me the context is everything. It is very, it is,

 

Ryan  

you know, you could glaze over that story and be like, Ryan buys house, Ryan takes house down builds new house. You know, Ryan keeps us long term. But like, there’s so many details in between that story of like, you know, what happened to the market? What happened with the tenants? What happened with the town? How did you push through it? The house, I built the house all through COVID? What about the price of lumber? What about the price of drywall? What about finding skilled trades during that time? You know, what about watching the government say, okay, everything’s open, okay, everything’s closed. Okay? The hardware stores are open, the hardware stores are closed, right? Like all of these things. Yeah, you have to chop through. And the margins have to be there at the end to actually make that make sense.

 

Erwin  

So another thing observation to have a view is that on the outside, you look like you’re calm, because everyone’s telling me one story how you you save the foundation? Because you just happened to check in and you saw and you caught the mid porn foundation and everything and it would have been a complete disaster. I was we’re not there. That was his house. This new building was so calm about it. It could have cost you like 100 grand probably or something like that. It would have Yeah, you’re just so calm about it though. Were you really calm on the inside

 

Ryan  

on the inside I was freaking out. Freaking out. That was the first time so what had happened was

 

Erwin  

and again context right? Again, like, but like quick summary that you gave. You could have had 100 grand mistake if you were not there. And not just if you were not there there or not. You had the experience and the knowledge to spot the problem. Yeah, that’s exactly what and how many people have that. Everyone the jobs they didn’t apparently didn’t

 

Ryan  

apparently, which was unfortunate. They dug up the municipal road, right for the listeners. They dug up the roadway. And they were putting in the water sewer and storm connection into the two lots that I was servicing. Right? Well, they went to Backfill the hole which is When I pulled up or pulled up, and they were missing the water pipe on one line, the sewer pipe on the other. I said, Whoa, like, what are you doing? And then like, What do you mean? What are we doing? What are you supposed to have three pipes in the hole and you’ve only got two? Where’s the third pipe? And they’re like, well, it’s not on the drawing. And I said, Do you think that I’m gonna go and build a house? With no sewer pipe on one and a water pipeline? Like, what? How am I going to make this house function? You’d have to dig a row back up? Oh, that makes a lot of sense. He says, Who are these people? Well, the municipal workers, they’re contracted by the government to put in the services. Yeah, like so frustrating. I thought to myself, are you kidding me?

 

Erwin  

I was working delegate the scale. Ryan, you guys, you missed that. You missed that hook in the motivational whatever. Yeah.

 

Ryan  

I was so rattled on the inside. I was. I was I was upset that they didn’t catch it. Because they were professionals at what they were doing. Right. They’re supposed to do this every day, every day, right? I don’t. I’m not a sewer guy. I don’t know. But I’m, like, bright enough to know that, you know, you need sewers, and water and all the rest of it to make a house work. So, you know, I said, Hey, put the thing in. It, put it in and they put it in. They’re like, Okay, can we Backfill the hole? I said, sure. Like so. So trivial. But that would have been so expensive to fix in

 

Erwin  

delay. Oh,

 

Ryan  

it would have been horrible.

 

Erwin  

I waited. You’re probably like finding the problem. Like, oh,

 

Ryan  

yeah, like, where’s my pipe? You would have been digging, looking for the pipe that wasn’t even there would have been horrible. Oh, cool. Yeah, but caught it. Right. another roadblock? I caught it. Move on. Let’s build the house. We’re okay.

 

Erwin  

I don’t want to scare people from doing these things. No, no, please. Sure. What’s tricky about real estate investing. Let’s we should at least talk about what what it is.

 

Ryan  

Yeah. Like, there’s positives and negatives to anything. Same thing with stocks, stocks go up, stocks go down, you hit the buy button, instead of the sell button, you know, trouble. You hit the sell button instead of the buy button. Maybe you save yourself who knows? Right? But educate yourself move forward, figure out the solution. Put $1

 

Erwin  

I see all these investors who are just, it’s not that common with this incredible ambition right out of the chute. Right? They’ll take on Orion car sized project on like their second deal. Or the by vacant piece of land off realtor.ca. Like, holy cow. What did you find? What did you see in this property that no one else saw that largely looked at this?

 

Ryan  

You wouldn’t believe I get like people call me from time to time and say, Hey, can you help me with this? And so I’ll try and help them right. And I talk more people out of doing deals than doing deals, because they’re too ambitious, as you say, I can’t reasonably see a positive outcome. Right? And they have no idea what they’re talking about. And I’m like, Hey, you might be missing this. You might be missing this. You might be missing this. You ever thought about that? And they say no, I have it. Right. And I’m like, there’s more deals that are bad deals than are good deals. And most people don’t understand that. All right.

 

Erwin  

Well, lots of good deals never see the light of day. So yeah, I think the folks need to understand that. Like, if it’s on realtor.ca, then that, or IC X even is IC X even around? I don’t think it is. I think you’re right, the commercial version over the last. If it’s made it there. A lot of people already looked at it. So you’d be like, have your guard up. Yes. All right. Be extra critical. Yep. Yeah, crazy. So tell me about the deals or the other deals the work that you’re currently active on? Yes. Because you’re known for do highest and best use. What are you doing that’s highest and best use on these are these just ugly houses.

 

Ryan  

A lot of ugly houses. But I mean, land 70s are big rezonings you know, cutting corner lots kind of backyards, off corner lots. That’s good. Tear down rebuilds rezoning for higher density. That’s big coach houses are kind of like the new big thing. So I’ve got a couple of those in the pipe. I might convert them to try Plexus instead of coach houses just because it’s more cost effective to build.

 

Erwin  

So how do you what’s the triplex? Can you paint a picture for me?

 

Ryan  

Yeah, sure. So buy big infill lot. Cut the lot in half, take the house down, build a triplex on the left and a triplex on the right.

 

Erwin  

Oh. So what is it like

 

Ryan  

three, three units in one building? small apartment building?

 

Erwin  

So basement unit main floors unit, the second floors unit? Yep. I tried to

 

Ryan  

build them as a raised bungalow, or like a raised basement style. So the basements four feet in the ground, right? Everybody has nice big natural light in the bottom. And then the second floor is elevated a little bit third floor even more so. Right. Right, right. And then because, excuse me, there’s more stairs to get to the third unit on the top level. Right? When it’s when it’s raised a little bit, we try to incentivize that top level unit. So maybe give them 10 foot ceilings or vaulted ceiling. So when you get up there, it’s like really beautiful, or they have a nice balcony. And that helps offset the pushback when people say oh, that’s a good tip. I don’t want to go that high.

 

Erwin  

How deep do the poor arrays bungalow?

 

Ryan  

Well, depends on the answer is four feet. Right, which is your typical frost coverage. Okay. Right. But I mean, it depends on your area. So like in Florida, they don’t freeze. So you’ve got less, less of less flooding coverage there. But here in Ontario, we’re about four feet. Are you seeing more deals available now? I’m seeing more volume now. But that doesn’t mean it’s a deal. So just because it’s inexpensive, more things

 

Erwin  

are coming across your desk, right? Because like the 20 wholesalers and the threats like

 

Ryan  

stuff is happening, things are moving in the market because the market is coming off. So people either want Say face, or you know, claim profits or whatever. But like whenever you get a market change, things come out of the woodwork.

 

Erwin  

I don’t even know to ask next. You mentioned Florida. So that book came to mind. Are you doing anything out of out of country or province thing?

 

Ryan  

Nothing? No,

 

Erwin  

come on, Ryan, there’s gotta be some shiny things you can chase. I know, it’s more than an hour drive from your house. I’m

 

Ryan  

trying to I’m trying to not do that actively. Like there’s, there’s an opportunity in so many areas that I could that I could reasonably foresee a positive outcome. Right, so many areas doesn’t matter what it is you could you could you own a better restaurant? Or could you have a better a cotton farm? Or could you have the, you know, the best piece of real estate? Or could you? You know, like, I went all the stock hacker stuff. Right? I took the course. But I never did actually do it. Right. And I thought the course was fantastic. And I thought you guys nailed it. Right? But I knew after I took the course, that I couldn’t have a split focus between real estate, and being great at that. And doing stocks and being great at that. For me. That doesn’t mean nobody can do it. I’m sure there’s less people to do. Right? I just need it for me. If I split my focus, I would split my results and I couldn’t do it. Right. Maybe when you’re retired, maybe yeah, maybe we truly

 

Erwin  

retire. You make you make so much money being so active in your business and you’re so good at it seems like it’s your highest and best use.

 

Ryan  

It is I just I’m able to see opportunity. Very, very like that, you know,

 

Erwin  

because the direction that stock hacker Academy is now is where I see challenges in the market for people are all these people who are private lending who are taking away too much risk for a fixed return. Yeah, right. And so the analogy often to them is like, you know, a TD Bank and payment will pay me over 4% dividend. Yes, taxpayer for preference. Yeah, I can say I can do something really simple. I’ve covered sell cover calls on it. Yep. And I don’t think I’m gonna lose that much money on TV, nor will it go to zero versus we know people that are losing lakhs of money in like the promissory note market and some REITs that are at risk out there like newer REITs. So yeah, I just I just wanted to put something out there that the risk and the reward was more in line with at least what our conservative than the massive amounts of risk I see people taking. Yeah, you know, I agree with your with what you’re doing, especially with how busy you are, back to the triplex. Now, I don’t know where I want to dig into one of these strategies. Okay, because we have a lot begins on the show. Yeah, which of the strategies that you’re currently work doing is something more something out beginner can bite off a seven build Severn, triplex just a basement suite,

 

Ryan  

I think the entry level stuff is always a basement suite. I mean, I cut my teeth on doing basement apartments, really, you know, 10 years ago, when I got started. And like a lot of the same, a lot of the same techniques you need to do basement hold true for a lot of development. So like getting a building permit learning that process doing a set of drawings, learning that process, understanding what a site plan is where we put in parking, how deep is the backyard, you know, what is a setback, right? A setback is how far you are from a lot line from your structures, all of these things matter. Right? So when you take that, that concept, and then you bring it over into infill development, right, the same thing applies, where are you putting the house? You know, how do you get your blueprints done? What are your setback, all of these things are the same, right? It’s just on a basement apartment. It’s easier because you have a defined space you’re working with on an infill lot, it’s a little bit more tricky, because you’re trying to deal with a town or something new. Right basements or existing construction. So basement apartment, that’s the answer. That’s the easiest entry level point.

 

Erwin  

Is it your own crews working on these on these projects?

 

Ryan  

Sometimes? Yep. So like, I think at my peak, I had three, three crews on the go. Right now I have one, sometimes two, but mostly just one full time staff T for employees. I’ve had them for years, right. And they’ve been awesome. I attribute a lot of my success is to having full time staff because they push me to be better because I want to be better for them. Not because I want to be better for me. Right? I’m always working six months ahead of my my guys, my staff, because it takes time to find the house close on the house, finance the house, whatever, plan the house so that they can come in and do the construction. Right. And that evolved naturally. I used to be the guy doing the construction. That was great. But you can’t scale your physical labour, you can only scale your thoughts. Other people’s labour. Right. So that’s that’s how that came about. But like yeah, I can confidently say that if I didn’t have full time staff, I probably wouldn’t be where I am today. Because I wouldn’t have pushed in the same manner.

 

Erwin  

Now having full time staff has so just, again, not many people have full time staff. So that’s some questions around it. I hopefully it benefits the listener. How much are you able to outsource and delegate to that full time staff? Are you able to be like, go golfing? You can explain it? How involved are you on with the construction since your full time staff

 

Ryan  

last year. So now, more so in the beginning, right. So when I when I kick start a project, we’ll call it every project when I start one. I’m a little bit more evolved at the beginning because I have to steer the ship, right? I’m the maestro to the orchestra. I have to say okay, the tuba goes here. The trombone goes here the violin now it’s your turn. Right whereas after that is set and the sheet music is written. They just have to play it. And I say just have to play it like kind of tongue in cheek because there is still some technique there, and they still have to be good at their job. But like, what I didn’t understand when I first started my business was I was just looking for people that were inexpensive, because I just wanted to write and a lot of people go through this, they don’t want to pay and whatever. Now I need people that come batteries included, no assembly required. Because I have to be able to delegate a task and say, Okay, you go hang the drywall, I’ll be over here. When you’re ready, then we’ll go on to the next task. I can’t spend the time to show you how to hang the drywall. Otherwise, I would just have to do it myself. Right. So that was a big takeaway for me, as I continue to grow, and now I’m less involved, right, I do still start the project, like I mentioned, as we progress through the project less or so. Right? And the final 10% is always the hardest, because then I come back in and I say, Okay, we got it still got to do this. Still got to do this. Okay, now we’re ready to go.

 

Erwin  

So part of the challenge was investors is, is they want to be as passive as possible.

 

Ryan  

That’s horseshit. I’m telling you right now, anybody that wants to be like, super hands off, and I don’t want to know anything about the problems, and you know, just call me when it’s done. And here’s the keys and whatever, that only works later in life. It only works later in life. That’s been my experience. Right? I think that’s been a lot of people’s experience. I can’t speak for every scenario, but anybody that says, I don’t want to know anything about it and right, fair, fine, but you will pay for that. One way or the other, like, something will come back. It’ll bite you. Yes, it’ll be bad, right? But it’s the wrong way to go about it. If you can’t see yourself in that business long term, right? I personally don’t believe that you should start because something will happen. And you’ll get frustrated, and you won’t want to be there. And you won’t have the foresight to work through the issues

 

Erwin  

and just wait for the person that thinks like, oh, Ryan works 77, I can fix that I can answer some delegate, I’ll hire an in house Operations Manager, for example. Does the model work with the full time staff between you and the project? So you don’t ever have to go on site? Maybe sometimes it does. Maybe someone sometimes your projects usually pretty have good meat on the bone?

 

Ryan  

They do. They do. So like if you have a tonne of margin, where you can make all the mistakes, and you can hire all the people and stuff like that everybody that’s just just like, oh, just delegate that delegate that delegate that. Well, eventually, when you get to the end, and there’s nothing left, but you delegated everything, what have you done it for? Right? So you gotta be really conscious on where you’re spending your money. You could lose so much in operational inefficiency, that like there’s like the project is a zero or a negative at the end, and you’ve just put in all the time, even though you’ve outsourced it and got your time back. Right? It’s all for naught. So you do still have to look at the margin.

 

Erwin  

Right? And it’s the thing that I see a lot of books talk about is like, oh, yeah, just just outsource and delegate everything. Yeah, my experience is similar. You just so much, you can’t,

 

Ryan  

you cannot, it’s very hard to delegate vision, right? It’s very hard to delegate, like a one off chore. It’s very hard to delegate art. It’s very hard to delegate anything that isn’t clearly repeatable.

 

Erwin  

Like Simon cynics book, for example, lead from the front. I don’t know if he can inspire people, if you’re on the golf course. And like not doing like any work, or you’re just doing cutting or cutting checks and signing checks. Yeah, I don’t know if that’s necessarily inspires your staff? No, I mean,

 

Ryan  

I wouldn’t think it would. That’s why, you know, I talked about this in the book, which, by the way, is coming. It’s been the longest, it’s been the longest book really supposed to

 

Erwin  

announce today.

 

Ryan  

It’s been the longest book release ever. And at first, it was like the production side that I was kind of getting held up on. And now it’s clearly just my fault. Like, it’s just clearly my fault. The book is written, it’s been proof read, right? And there’s still a few things that need to be done. And it’s just like, I am the bottleneck in that process. And speaking of outsourcing, I can’t outsource a couple of the things that need to be done because it’s coming for me. Right? So I’m the bottleneck. This is like real world entrepreneurship. I’m the bottleneck. This is it. Right? But like, you know, I talked about some of these things in that book, where you have challenges in the business that it’s got to be to fix it.

 

Erwin  

I did hire someone to read my book. Yeah, you gotta want to stay in forever too. It is out though. But again, the audio books not out yet but it’s hilarious because like it’s like the the guy who reads it. Very professional doesn’t stutter like I do.

 

Ryan  

I love it. Cool. I can’t wait to read it or listen to it.

 

Erwin  

I heard I heard a sample and Sherry’s book also we hired someone a woman at least Yeah, but yeah, like to hear like a professional speak versus cheering with their accent.

 

Ryan  

Yeah, this is hilarious trousers, very articulate with the word very delicate.

 

Erwin  

Because for me, whenever I read chairs, writing, I hear her voice in my head. So the hearsay throws me off.

 

Ryan  

We talk about the car. We can we can you like cars. I do like cars forever. Forever. Yeah. As a kid, I was always very mechanical. So like, before I got into being a mechanic I was, you know, like doing go karts and mini bikes and welding and stuff like this. All through like public school in high school. I was more into sports and public school and then I gravitated towards work with my hands even more. So you know, when I was like 1314 and then it just always stuck around.

 

Erwin  

And there wasn’t any cars particular brand and everything like was it on your vision board

 

Ryan  

or any Going for Absolutely. So I didn’t even know what a vision board was when I was a kid. But I always had little toy Ferraris, right. That was always my thing. It was my brand. They were red, and they’re fast, and they’re fun and they’re sporty. And that always stuck with me. Then going through, like all of this real estate stuff and making some money and like having successes. I said, okay, like, if I’m never gonna buy a sports car, or a Ferrari like, now’s the time. Let’s do that.

 

Erwin  

So we did. What was the time? What was the time, the trigger event? But it was like, now’s the time to buy it. Yeah,

 

Ryan  

so the school story. I always said to myself that I wanted a Ferrari, but I never wanted to pay full price for it because I was buying equity in real estate. I want to do the same thing with cars. I said to myself, when the market falls apart, luxuries go on sale, and that’s when I’ll buy it. Right and I did just that. So over the number of 60 some odd deals. I saved up a couple grand here a couple grand there just kind of put it aside forgot about it. That was my car fun. Right? And I got to the point where COVID came in. The market fell apart. luxuries went on sale was a very short time period. But there was the opportunity. There’s this window, I found the perfect car. Bought it right there.

 

Erwin  

rest is history. Keisha Keisha how you how you found it how you found the car. Yeah, so

 

Ryan  

I actually did Kijiji Facebook marketplace Auto Trader like all the online like all the online ads. And I did a we buy Ferraris fast for cash programme right in amongst that I had like

 

Erwin  

you had your the ad you had Yeah,

 

Ryan  

just like people do. We buy houses and Senate flyers I did like a I put one on Kijiji

 

Erwin  

so instead of like house pictures or house logos, you put a car. Yeah. Ferrari. Yeah. So Ferraris

 

Ryan  

like red with nice rims and like all this stuff, right? Put it up there. I think I put it in like Microsoft Paint. Like it was a cheesiest ad like we buy Ferraris for cash, call me. And in amongst that campaign where I was a waiting for inbound leads to come in, right and be reaching out to people saying, Yeah, you know, I see your cars for sale. If it doesn’t sell, give me a call, like things like this. Right in amongst that campaign. I came across the car that I wanted. There’s two particular models. And the rest is history. I bought it right there. I bought equity. Right? The person who bought it from us fantastic, like really great guy still have a relationship with that person today. And I love the car.

 

Erwin  

Right? He doesn’t feel slighted how much you made? No,

 

Ryan  

no, you know what he was thrilled, I think. And I all I can do is insert myself into the way that I feel he was thinking at the time, right? I called him he didn’t pick up. He called me back like a week later. And I figured, well, this car is pretty reasonably priced. Like and it’s really pretty. It’s probably gone. So I just kind of wrote it off. Well, he called me back a week later. Hey, I’m so and so whenever you’re available. Let me know. I’ll get the car down for you. He’s down. Yeah, that’s where I sit. Down comes down. Berry dough from okay. So I roll up and he takes it down off the hoist and takes it out into the driveway. And it’s all nicely polished, recently serviced all the owner’s manual service records the whole bit. And the car was really beautiful. It has everything that I want it and a guy was awesome, too. He’s like, come on into my home. We had a coffee, talk a little bit about it. I met his wife like, like really great. Just Just a great people. Right. And not only did he get the car, but he got the relationship. And I think that’s really

 

Erwin  

cool. So he called off your ad or they posted an ad. I reached

 

Ryan  

out to him. He posted an ad in my campaign of inbound and outbound. You know, trying fine. Right. I had reached out to his ad. And he called me back. There was a price on the end. There was oh, there was so I got a little bit of a reduction. Right, which is great. I also got an awesome car.

 

Erwin  

Any idea if he any other any serious inquiries or inquiries? He did?

 

Ryan  

He did. I again, I can only guess based on my interaction with him there. I think he sold it to me, because he liked the relationship too. That’s my guess. That’s my guess.

 

Erwin  

Can you give a percentage? How much has gone up in value?

 

Ryan  

Oh, yeah. That car went up in value. I think I bought it about 60 cents on the dollar. So it’s probably gone up 40% or more?

 

Erwin  

Is it $1 than or $1 60% of your 40% of 60 cents? You know, I mean, so I went up 20% 2628 cents.

 

Ryan  

It’s heavy math. I don’t know. We went up I went up my half the value of the car.

 

Erwin  

Okay, yeah. Okay. Oh, then it’s over. It’s over the dollar. That mountain. If you paid $1 on the dollar, then you know, you’re over.

 

Ryan  

I paid 60 cents for what the car was worth. And then it went up a bit. I don’t know it just went up.

 

Erwin  

Did you make money? I made money and you’re happy I’m very happy you ever gonna sell it? That’s dumb question.

 

Ryan  

Like it’s again for me it was more of the emotional buy like this wasn’t a this isn’t a flashy thing and like posted on social media like it doesn’t I get it every time I go somewhere people are gonna take a picture of the car and make sure right but like I’m gonna post this stuff like I’m not a flashy guy doesn’t mean that stuff doesn’t mean anything to me. emotionally. I wanted it for me, not for others. And the fact that other people enjoy it, I think is great. How’d you feel?

 

Erwin  

How do you feel about it?

 

Ryan  

I love it makes me feel good. Right? It just get in. It’s tight. It’s fun. It’s sporty, I take it to the track sometimes, you know, it looks great.

 

Erwin  

Park near you, right? You’re lucky. Yeah, this track is nowhere near here.

 

Ryan  

So the Ferrari dealership, they called me and said, Hey, we’re doing a track, they wanted to come out. So we went out. And like there’s, there’s a guy like with the espresso machine, it’s like, it’s all like a nicely done day, a whole bunch of people with other cars. And it was a really cool experience to be able to take my own vehicle to the track. And I did a little video on the way there, I never ended up posting it. But I did this little video. And I was like, I just sent it to my family. And I said, Hey, you know, big day, I’m going to the track today. And the coolest part is that I get to take my own car. Right? And you know, I sat next to people at lunch that sold their companies to American Express for like, you know, hundreds of millions of dollars, here’s me like little rental portfolio to cover the duplex. That’s right. That’s right. So it was a really cool experience to know that there’s people out there with, with more money or more experience or, or better cars or faster cars. And, you know, I was able to compete with that and hang out for the day.

 

Erwin  

And are you able to you’ve done any business with these people? Like, is it? Is it a good networking opportunity?

 

Ryan  

I haven’t done any business with anybody car related. I imagine it would be a good networking opportunity. But I don’t really use it like that yet. It definitely does, though, because I’m part of a few other car clubs. It definitely does open the door before you even open your mouth. Right. It’s just a visual representation of, you know, some success that you’ve had in your business career. And people automatically attribute that to Yeah, this guy probably knows what he’s talking about. Right. So that is really cool.

 

Erwin  

That’s cool. Now we’re running out of time. So I want to ask you, you’ve done a fair amount of education, hired coaches and stuff. Any particular favourites? Any favourites? You’ve probably you’ve put, you’ve dropped a lot of money on coaching.

 

Ryan  

I have Yeah, I probably spent, I don’t know, over 100 grand anyways, coaching. But that’s returned to me by I don’t know how many folds, but several times even just just negotiating with tenants and stuff like that, trying to figure out, okay, I want to put a house on the market or on the market. What does that mean? How can I parlay this to the tenant so that it’s advantageous for both of us? Right? How do we work on that? So just the way that you use your words is important. Any particular favourite right now I really love Alex for mosey he’s on. He’s on YouTube. He’s got some podcasts and stuff. He’s great. He’s not a formal coach of mine by any means. But his content is terrific. Very, very good.

 

Erwin  

See the former gym owner? Yeah, lots of German. Yeah, always disciple of Russell Brunson.

 

Ryan  

Is it? Okay, I know he did a bunch of stuff with him. I didn’t know that he was like a descendant of okay,

 

Erwin  

any of the paid ones, then you have the paid real estate coaching that you’ve done that you want to shout out to?

 

Ryan  

Specifically? No, no, like, I just I really do. I really do appreciate when people share information with me. And I do appreciate paid or free content. Right. And I just think that, if you’re able to digest that, and then use it in the market, it’s worth the money because you’ll get it back. I’ve said it for a long time. Education is like a stove, buy once and use it forever. Right. And like, that just rings true for anybody who’s active and actually doing the doing, if you’re not doing the doing, like, don’t read the books, because it’s just not worth it. Don’t take the courses don’t do the weekend training because it’s just not worth it. Like who said that quote was like, there’s no difference between a person who doesn’t read and a person who can’t read? Is it Mark Twain? I don’t know if it was somebody like Mark Twain or Jim Rohn. I don’t know one of these guys. But like, it’s true. You know, why learn to play pool? If you’re never gonna play pool again? Right? Why would you why would you go to a weekend course to play pool billiards, right? If you never play with your friends, or if you never go to the bar and playing League,

 

Erwin  

or for my case, why learn golf when you suck someone? There you go. So we’re running out of time. Right? I want to ask some final thoughts. Like we’re in the middle of a declining market in everything.

 

Ryan  

Stocks, everything.

 

Erwin  

So is it time to like, pull the chute and, you know, sell everything or? We think

 

Ryan  

I’m short term bearish long term bullish. Right. I think I said this in the downturn, somewhere in 2017. We talked about on your show. I was short term bullish long term or short term bearish long term bullish there. Right. And I feel the same way. Now. I think we’re gonna go through some choppy waters for the next couple of years. I don’t think anybody saw what happened with COVID happening, because interest rates are so low, and they printed so much money with shot the market like straight to the moon. So I mean, yeah, I still think that we’re going to be in a short term, tough time. I think we’re long term bullish, because at the end of the day, it’s inflation that the government’s all want, right? They target 2% Inflation is like the goal, right? Because if we don’t have inflation, consumers get very bearish and they don’t buy because they know tomorrow, it’s going to be worth even less. Right. So to kickstart the economy, they keep a 2% hedge knowing that Okay, right. Next year is gonna be worth more which means consumers will shop two percents the goal, so long term, I’m still bullish short term, I’m definitely bearish, right, but that brings opportunity,

 

Erwin  

right. So then immediate term, you’re still buying stuff if something makes sense to you,

 

Ryan  

if you buy equity I’ve been like that and in a good market and a bad market, right? The strategy still rings true. Obviously, you don’t want to catch a falling knife. That’s like the going term. You know right now, but it’s true. Like if you buy something for 100,000 today and the market falls 20% it’s only worth 80 Tomorrow, right if you bought it for 60 Well, you’re still up. You still good. So obviously it

 

Erwin  

fantastic. Brian, thanks so much for doing this. Thanks for making the drive out. Thanks for bringing the car. Thank you for having me on. Yeah, hopefully we have some fun golfing. I agree. All right. Awesome. Thank you.

 

Erwin  

Before you go, if you’re interested in learning more about an alternative means of cash flowing like hundreds of other real estate investors have already, then sign up for my newsletter and you’ll learn of the next free demonstration webinar I’ll be delivering on the subject of stock hacking. It’s much improved demonstration over the one that I gave to my cousin chubby at Thanksgiving dinner in 2019. He now averages 1% cash flow per week, and he’s a musician by trade. As a real estate investor myself, I got into real estate for the cash flow but with the rising costs to operate a rental business, it’s just not the same as it was five to 10 years ago when I started there are forget the cash flow reduces your risk. The more you have, the more likes you can absorb. And if you have none, or limited cash flow, you’re going to be paying out your pocket like it did on a recent basement flood at my student rental in St. Catharines. Ontario. If you’re interested in learning more and register for free for my newsletter at www dot truth about real estate investing.ca. Enter your name and email address on the right side. We’ll include in the newsletter when we announce our next free stock hacker demonstration. Find out for yourself what so many real estate investors are doing to diversify and increase our cash flow. And if you can’t tell I love teaching and sharing this stuff.

 

 

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