**Transcripts are auto-generated.

 

Erwin  

Hello and welcome to the truth about real estate investing for Canadians, and it’s a pain to be on this truth journey. Sadly learned a young man in his late 20s recently went bankrupt, even though he had a five figure coach, my socials on fire as opposed to the picture of me and interviewing Alex Olga, who along with his business partner recently declared bankruptcy just this past August, they both invest heavily in education. It didn’t save them. Unfortunately, they had a coach, but from an outside observers opinion really looks like ego and greed drove them into some really bad investment decisions. It’s really sad to see lives destroyed. There’s in those other investors, especially their promissory note holders, who are owed millions and no one knows when they’ll see that money returned. There’s a reason we do not recommend here at Island real estate my team, there’s a reason we do not recommend flipping to novice clients, especially with those who do not have renovation construction backgrounds. The topic always comes up with new investors, thanks to reality television and social media. Just remember reality TV and social media is not real. The truth about real estate is is that successful flippers I know also have a portfolio of buy and hold rental properties for the long term. All veterans know that there’s a lot of money to be made just in holding. I spoke to a friend this past weekend who’s been holding on to his land purchases for 2030 something years already and he still hasn’t built anything. He still hasn’t sold anything, you still have some you still have some taking some money for the vast majority of his portfolio. There’s he’s just sitting on it and developing it, which is largely just a soft cost and soft effort process. Thankfully, his properties keep going up thanks to the pandemic thanks to this housing crisis, thanks to the loosening of zoning restrictions, but there is no cashflow. If you ask him a question that I literally didn’t ask him he that’s what he said there is no cash flow. Let me repeat that on his own words are that there is no positive cash flow until either sells or actually build something or sells or rent to build something to rent out. The truth about real estate is it’s not all sexy, but the returns to me and my clients are worth it. As I continue to conduct strategy and portfolio reviews my clients past clients that reinforce for me how life changing investing in real estate has been. Our conversations are not about fear or loss. It’s about growth, how to improve cash flow, the path to six figure cash flow per year, our ESPs as they call them, real estate savings plans for their children. The longer a client’s been with us in general, the greater their success as time in the market is a profitable factor in my experience. And again, I’ve been investing since 205. I’ve been full time real estate since 2010. It’s a slow, boring process and learning Bunsen earning my clients millions of dollars who are everyday hardworking Canadians. So please don’t make the same mistakes as others out there and you coaches out there. Please do not give bad advice. I spoke to a new investor on the weekend who also pays for pays five figures to be part of a programme and they had a coach yet they invested in a non legal duplex. This is in Hilton so it’s an area I know very well I have properties on neighbouring streets so I know again I know the area well their Realtors opinion this property currently has six students residing in the basement six students in a three bedroom. Again, the property is not legal as in there’s no permits, no one’s inspected the property for building or fire code in her Realtors opinion. It should be okay. Though no one’s told this investor that the property is actually in the new rental licencing area later this year, that property will be required to apply for rental licencing. And for anyone who knows, which is pretty much everyone in my circles. They know a fire inspections required and a fire inspector will not be happy with what they find. So how the subject did not come up before she bought this house. I do not know. And just a reminder, ignorance is not a legal defence. I’m not a lawyer though. Please go ask her lawyer. How do I know she has a problem? Well, I’ve met with the now head fire inspector at the Hamilton fire department and I’ve asked him how to operate my business safely. I have a pretty good understanding of both building and fire code having been a part of hundreds of renovations between my clients and I plus my own morals and ethics don’t wouldn’t allow me or my client to operate a rental with the potential of someone getting hurt in the fire. So do you know how a fire or city inspector actually shuts down? I’m doing air quotes for those listening and you know how a city inspector shut down a rental property if not like is they like they borrow the doors or change the locks this one time as part of a inspection condition on a commercial property. I had a local fire inspector with the local fire department inspect the property I of course had written permission from the seller the next day they left a notice on the door there that quick to enforce code based on their findings. So they left a note telling what the like the courier companies it’s a sticker note from on letterhead from the front in front of our department about the improper use of an extension cord but it was stated that the fine would be allowed $1,000 If not remedied, and $1,000 for each month after that, again, it was really something really minor. I just unplugged the extension cord and I let the seller know that this would be coming. That’s just a common courtesy, in my opinion. Anyway, so yeah, I’ve been plugging the extension cord and putting it away that put the seller back in this owner back in compliance. So investors were beware, operate aboveboard or live with the consequences. And for those of you looking for coaches, or educational programmes, do comparison shop, there’s some of them that are great out there. And there’s a lot of them that are newer, and with newer staff who’ve had trouble scaling who have trouble training their staff, again, do comparison shop, if you didn’t believe it, but I was asked to as asked a question on questions to ask as part of interviewing a coach as part of your due diligence. I suggested asking him this the first time I’ve ever thought of this, I suggested asking how many bankrupt past coaching clients they have, as part of just one question that a longer list. So this is the first time I’ve ever suggested that question. There are a good number of operators out there in this industry, who both care and can deliver results and have a track record of successful clients, but a lot more recently have just joined the industry in the last three to five years. And they’re leaving disaster and they’re weak. Some have already disappeared. Thankfully, choose wisely in comparison shop. Feel free to attend any of our events where we take investors inside our clients properties. We share their numbers or forecasts. You can network with them. You can promote our past clients and they’ll tell you how it is to be coached by us and no extra out of pocket expense. As we are licenced realtors, we get paid via realtor commissions. When selling homes best in class coaching at no extra cost delivering results that suit most investors most of the times it’s 20 time, honestly our track record is it’s been pretty amazing. And I’m very grateful for the clients who have trusted us. Speaking of events, our next island meeting is a hybrid event of online and in person. Our presentations will be delivered via zoom. So people will be invited to attend and the recordings will be available for anyone who can’t make it followed by on following Saturday. We’ll have a boots on the ground educational tour in Hamilton on Saturday, April 22, We’ll all meet up the number one ranked coffee place in all of Hamilton. I truly believe that any area expert should know where the best coffee places are matched the coffee will go for a tour inside and out of an income property or too often they’re owned by my clients are good friends of mine. If no one has something available to show them, I’ll show Mark Mark properties on the market. And then following that mastermind lunch with like minded investors, including some my clients and myself. The vibe is friendly as there’s no pressure and it’s a sharing crowd. Because honestly, cherry and I tend to attract nice people on the other side of that the sharks notice stay away, they know I know who they are. If you’re looking for that place where theory meets reality, then you found it. Keep an eye out for the invite on our email newsletter. Again, save the date though otherwise, Saturday, April 22. If you’re not on my email newsletter, then you are welcome to join the over 10,000 10,000 plus hardworking Canadians already on my email newsletter, this podcast website, www dot truth about real estate investing.ca. You know all our show notes are posted there. And on the right side you can enter your name and email address on the right side to get on the list. And you know, let’s go. If you’re like that make a difference in your financial future create impact intergenerational wealth that actually works with a group that actually has significant track history. I think we’re the place to go. So quick market note the market is gaining momentum with fixed mortgage rates. Starting to come down we see some good discounts our clients again, some good discounts. We had a client to sign a three year for 5.09 5.09 on a three year and that’s for our investment property. And I just noticed my neighbours are selling within in days, not weeks. So it’s the markets moving pretty quickly. And same goes with the good properties that we identify for income opportunities. Onto this big show. Today we have the host of the major conference, the multifamily conference, Seth Ferguson on the show. If you’re at the event headlined by Kevin O’Leary last year, you know, it was a really great event. Seth has been, however, inspired to 10X.

 

Erwin  

As he’s got headline speakers, Mr. 10X himself, Grant Cardone and Alex Rodriguez, who is the best known Alex is best known for his successful business baseball career. At one time, he was baseball’s Highest Paid athlete. More recently, he’s been on Shark Tank as one of the sharks and he’s a mega apartment building investor himself very successful investor. Based on the reference checks I’ve done. The event will be a big one summer around 2000 attendees. I’m guessing from all over North America expected for this three day event. I’ll have the booth there. So if you’re coming by, please come by, say hi. And I’ll hopefully see you at one of the networking events or or lunch or breakfast. There’s so many events. I do enjoy networking. And if networking is your thing, then you’ll want likely want to be at again Canada’s largest investor conference of the year. Set this here today to share about what it takes to run a successful conference. What one can expect at the conference, how there’s something for everyone from both beginner to mogul. There’s even a whole day educated on the Friday that Friday of the week, three day weekend. The Friday is meant for beginners, and if you’d like VIP treatment says has spent a lot of time and effort and money to make sure that the VIP is will enjoy exclusive networking events that exclusive read expensive venues. But I’ll let Seth explain that to you. So that is also working on some investment stuffs, I noticed relief under selling it. For those who don’t know Seth focuses on acquiring apartment buildings and mostly in the states and even some hosting developments. Hill announced at the conference, but you’ll get a sneak peek of it. Today’s show. Now for a disclaimer. The lawyers always want me to read the information and opinions expressed in this podcast are solely for educational and informational purposes and should not be considered as investment advice. The hosts and guests of this podcast are not licenced financial advisors. How true not licenced brokers or registered investment advisors and their comments should not be construed as recommendations or endorsements of any specific investment security or strategy. Me personally my team of coaches and our licenced Realtors of Rockstar real estate brokerage and proud to be while easy to obtain a realtors licence. Not all the same rates are in line with the market. But we’re four time winners a realtor of the year to real estate investors, and our track record includes 50 or so self made millionaire and multimillionaire investor clients. That investing involves risk including possible loss of principal investment or worse. Before making any investment decision. You should conduct your own research and consult with a licenced financial advisor to determine the suitability of any investment. For your specific financial situation and investment goals. The hosting guests of this podcast make no representations or warranties as to the accuracy, completeness or timeliness of any information discussed in this podcast. This podcast is not responsible for any errors or omissions, or the results obtained from this use of this information. listeners are advised to use their own judgement and seek the advice of professionals before acting on any information provided in this podcast. The podcast shall not be liable for any damages, including but not limited to direct, indirect, special or consequential damages arising out of related Of or related to the use or inability to use or reliance on any information provided in this podcast. That was a mouthful. Please enjoy the show. Hello, madman, Seth Irwin. Fluff keeping you busy these days?

 

Seth  

You know, it’s just trying to run this crazy conference, you know, and trying to do some cool things in real estate. So yeah, lots of stress. Lots of anxiety, lots of craziness. You know how it goes?

 

Erwin  

No, I don’t actually

 

Seth  

know exactly how it goes. You are the wealth hacker himself. You know exactly what goes into running these crazy events.

 

Erwin  

Thankfully, my spouse was involved. Yeah, so we could we had two people two heads at this.

 

Seth  

Yeah, just roped Darcy in whether she likes it or not. So yeah, you guys have gone on your honeymoon, right? No, them wedding hasn’t even happened yet. So this year, we’re running a conference. We’re running another event later on. And then we’re running a wedding. When’s the wedding? August the sixth? Oh, let’s turn. Yeah. And then we’re planning on going to Italy for three weeks. So that’ll be nice.

 

Erwin  

So now I’m I’m thinking about it. I understand why I’ve been invited to the bachelor party yet. So understood. We have time we have one way.

 

Seth  

You got to pull off a couple of events first, and then we can party. So yeah, Darcy is not too happy. She’s like, Seth, we have a wedding. And then you’re running another conference. And then so a lot of work. Conferences are

 

Erwin  

like weddings, it’s good practice. Well, I

 

Seth  

told her we have such a professional team now. We can like just run the wedding like a conference and bury some

 

Erwin  

of the costs in the conference for the wedding. You’re a planner. Now you’re not a wedding planner. You’re a planner intertitle which

 

Seth  

means these invoices. Just get everything rolled over you perfect. Yeah, we’re just pre paying everything through the conference. So yeah, well, I’ll

 

Erwin  

get some tax advice from Jerry and I’ll see what we can do. Oh, please don’t mention my wife’s name. Because I gave a let’s suppose a tax tip. And obviously there’s not a good tax advisor who’s being sarcastic. But yes, there’s a conference. I know you had you had a lot of fun on the last one. Yeah, the multifamily conference. That was May last year,

 

Seth  

May last year. Yeah. So thinking back like we were locked down two months before the conference happened. That’s the crazy thing. And then we put it together. It was insanity. Like I have never had such an insane period in my life. We pulled it off. It was great. And then just hopping back on the hamster wheel for number two.

 

Seth  

Right? Right. This is text the Conference of the original. We are all sequels are better. All sequels are better and we are better. Exactly. I’m Heart strikes wax was better actually don’t sequels are better it was yes. Maybe not frozen to fall trust you on that. Yeah. But yeah, we

 

Seth  

are literally 10x in conference. My personality is very like out there. Like I like to push boundaries and challenge myself. So last year was great. Like we had Kevin O’Leary from Shark Tank. You know, we were the first major real estate event to get back in person in the country. So that was really cool, great crowd. We had well over 1000 people last year, so it was great. This year, we are going a lot bigger, moving the venue. So we’re right downtown at the Metro Toronto convention centre, I rented out the CN Tower, I rented out rebel nightclub for the after party. So we’re just going like bigger and better with like, everything.

 

Erwin  

You could rent in a bigger place in the CN Tower. I heard there’s bigger, taller structures in the world now.

 

Seth  

Taller structures will go next year to Abu Dhabi or something. Yeah, but the CN Tower, like it’s going to be so cool. So basically, what we’re doing there is it’s like a VIP networking kind of setting. And we’ve got like some really cool stuff we’re doing. There’ll be the nice vibe. And then like, it’s all windows right in the observation deck. And that’s what we’ve rented. And it’s just going to be awesome. On Saturday.

 

Erwin  

Inspiring views are always a good backdrop for inspiring conversations.

 

Seth  

Yeah, like, I think it’s like the energy to write like, like you’re in a unique setting. Like when was the last time somebody rented out the CN Tower and had a private party? Like, I don’t get invited to those things? Well, you’re invited this year. So yeah, it’s just a cool, unique experience that you normally wouldn’t have fester in the room with, like 200 Other like really cool real estate people from all over the place. That’s where things happen. Like, you know, like, networking, and the connections are where it’s at. So you know, whether you take them a zombie shooting, or

 

Erwin  

whatever, why isn’t a secret event?

 

Seth  

Oh, we should we should. I had so much fun. I took my like, so if anybody’s listening like urban does this, what would you call a virtual reality? Yeah, you put it in a headset? Yeah. And you do it with like some really cool real estate people. And I got hooked the first time I did it with you. So I took my family back. And we had such a blast. Darcy had fun, too. Oh, Darcy loved it. My mom went and she like crushed everybody. So

 

Erwin  

it’s always funny how that happened. Yeah, there’s always a dark horse. And when you don’t expect to do well, I remember once I went with a cop, and they perform really

 

Seth  

poorly. Oh, maybe the sights were off?

 

Erwin  

I don’t know. And speaking of hi in, okay, so yeah, networking, you know, especially these times, networking is incredibly important. Who you know, who can make the introductions just like even before we were recording, we were talking about some you know, doing some reference checks as we’ll make some connections for you after this show was done. I hear you have some somewhat successful people as speaking.

 

Seth  

Yeah, we might be doing okay. So yeah, like just going down the list. Like I’m so excited. So our celebrity speakers Grant Cardone, you know, four and a half billion dollars worth of assets under management.

 

Erwin  

US dollars. Yeah, US dollars. A million Canadian then yeah.

 

Seth  

30%. And then like Alex Rodriguez, like a rod. Most people don’t know this. So most people know him from baseball and being a guest on Shark Tank. But he owns over a billion dollars worth of real estate like he’s huge. Over 15,000 multifamily units. So huge guy there

 

Erwin  

are people I heard don’t sleep on a rod I heard he’s actually incredibly bright. Ya know, like, he’s

 

Seth  

been great so far. And so what we’re doing is we’re doing like a fireside chat. So I’ll be talking with Alex on stage. I’m actually really looking forward to that. And then we’ve got Janet le Paige. So CEO of Western wealth, she’s talking about how she went from zero to 7 billion really excited for Janet. Then we’ve got Brad zoom rock. Brad, if you you’re not tuned into the US multifamily scene Brad is a superstar when it comes to syndicating deals his students have I’m going to mess up this number by think they’ve acquired over like $6 billion in multifamily apartment buildings. Then we’ve got Mellon, Dave Dupuis, who are talking about creative financing and how they grew their portfolio. We’ve got Delia Barsoom, she was a financing and she was a great hit last year Marcin Rhodes is coming back. Like the list is huge. We’ve got two guys from equity con coming to talk Daniel JSON. I’m so pumped up for the speaker Rossi rehab, it’s going to be so much fun. And it’s two days. Two days. Well, it’s actually three days there. Yeah, sorry.

 

Erwin  

I knew that. Sorry. Yeah. Yeah.

 

Seth  

So what we did was last year, what we found is a lot of people were coming to the conference who had real estate experience, right? So they may be doing like single family homes like small plexes. And they were interested in learning. Let’s say Joe Fairless. Last year came in he he’s at like 3 billion now, when he was on stage talking. If you’re kind of just getting into multifamily, you might not get the most out of what he was saying. So this year, on the Friday we’re running a special a boot camp workshop just for beginners. So it’s myself. We’ve got I think five or other speakers coming in and we’re covering all the fundamentals. So that way after the Friday, when you’ve got Janet on stage grant on stage talking about these bigger concepts, like you’ll know exactly what they’re talking hearing about and how it relates to what you’re doing. So it’s like, my goal is to make it the best experience possible for somebody who comes. So we learned from last year that hey, like a lot of people are coming to learn. And so that’s why we’re running the boot camp. So hopefully I’ll see lots of people there. We are, like cap with numbers with that room. So get it while you can.

 

Erwin  

Where can people get information?

 

Seth  

Oh, you’re just getting into tickets? Yeah, but multifamily conference.ca. Today, actually, yeah. So today, we’re at 8% sold out of VIP tickets. So there’s just a small handful left. And last year, like platinum sold out to VIP sold out, like we will sell out. So it’s kind of cool, because we’re not dealing with all the stuff from last year with the lock downs.

 

Erwin  

And you’re nuts to have dealt with that last time. I was like, You’re so kind to offer refunds.

 

Seth  

You know, but you know what, like, I’m so stubborn. And like Darcy will she tells me like I’m the most stubborn person she has ever met. So like when I told her I was going to run a conference, there was nothing stopping me like we were going to run the conference no matter what. And I think like, there’s good things with that. But there’s also like bad things. But luckily, it worked out. So yeah, I

 

Erwin  

can’t believe you pull that

 

Seth  

off. Yeah, it was insane. And you look at

 

Erwin  

word from my conference in November, which is your month five, I was month 11. Six months ahead of me. And I was worried for my conference.

 

Seth  

It was like the stress level, like I have never been so stressed because the amount of money that was on the line, and not only like the money, it’s like your reputation and everything. And when you start seeing all the other events like postpone like big major events, it’s like

 

Erwin  

or someone quiet. Yeah, someone quiet because they didn’t do well. Yeah. And it’s like,

 

Seth  

what am I doing? But you know, I had a good team. And I think like, as we grow with the conference, and the events and the team, we have, like I’m becoming a better and better leader, because like, you know, I’ve never run a 30 person company before. And now we’ve got like all the staff. So I think last year, it was like it stayed true to the vision. I was like, no, like, we’re gonna pull this off, and everybody kind of fell behind me. And I think the people really made it happen, because without the key people we have on the team, like there was no way it was going to happen at all. So yeah, crazy. The craziest thing I’ve ever done, hands down.

 

Erwin  

So what can someone expect to learn? Like there’s a pretty loaded question. Yeah. So sorry. So the first day is what half day full day?

 

Seth  

It’s a full day. Oh, boy. Yeah, full day.

 

Erwin  

Friday, Friday, so it’s not for everyone, but just for beginners. Yeah, I totally agree with you love. Beginners do not have basic grasp of concepts. They don’t know, like, fiat currency, hard asset. Don’t use a spreadsheet to calculate cash flow. I deal with these things on almost a daily basis.

 

Seth  

Yeah. And I want somebody to come to the conference, get the very most out of it. Right. And I was thinking, Okay, well, if Brad zoom rocks on stage talking about syndication, you know, a beginner might not know what that means what he’s referring to. So it’s like, okay, well, let’s get them the right information. Let’s build the foundation with all that like financing. You know, structuring, like how you make money in deals, like all that kind of stuff. Let’s get you the basic foundations. And that way when Brad’s talking like oh, yeah, I know exactly what he’s talking about. And then you just have better comprehension. But yeah, for the main conference, like what somebody’s looking at learn, we have a number of different reasons why people come to the conference, we do lots of surveys. Number one, like 47% of the audience wants to learn how to raise more money. Because without the money without the capital, the deal doesn’t happen. And you know, I’ve made I take very seriously like, who’s on our speaker roster? And who’s covering what, because I want to make sure we covered the full breadth of the multifamily business. So raising capital is a big component of what we’re doing at the conference, because that’s the number one concern people have. Number two is deal flow, like, Where can I find the deals? How do I get better deal flow? How do I underwrite the deals and find a great deal versus a good deal versus a bad deal? Well, mistake, a huge mistake. And

 

Erwin  

they’ve been raised expensive capital to put into a bad deal. They don’t realise that they don’t realise their mistakes as they’re getting in.

 

Seth  

Exactly. So that’s the second most requested topic at the conference. So we’ve definitely got that covered. And then we talked about structuring. Then we talked about like, the mean of creative financing, the financing component of that. We talked about management, the value levers in the multifamily deal. So basically, when somebody comes to the conference, you’re going to walk away after those three days or two days, depending on how you want to participate with the most comprehensive insight into the multifamily business, whether you’re brand new just getting started, or we have people because I see who buys tickets, like we’ve got people with like billion dollar portfolios in the VIP section, people with half a billion dollar portfolios in the VIP section. So it’s not just for beginners, like we’ve got some very experienced operators coming and you know, networking is a big part of that. But also like, you know, janela Paige is running a huge company. Anybody can learn from somebody like that Grant Cardone huge, huge reach. Anybody can learn from Grant. My feeling is whenever I go to a conference, like it doesn’t matter who the speaker is, if they can just give me one thing. It’s more than worth than Yeah,

 

Erwin  

the interesting thing about working with Grant was because we were hosting grant. I was 18 Right 2019

 

Seth  

Oh 2019

 

Erwin  

Got it up before the pandemic Yeah, we had no idea. Oh god that would have ruined us as a pandemic goddess. Yeah, anyways, what was going on was a lot of people do not like him. But what a lot of people don’t find understand is like for example, like Don Cherry, a lot of people don’t like I’m lucky to like him. Also, people to understand are similar. Kevin O’Leary, a lot of people don’t like him. Yeah, very polarising figures but that’s important though. You need to be polarising to get attention. Absolutely. What I think elected to understand is that sometimes it’s a character Beyonce is a better example Beyonce is a character that cuz she’s incredibly shy and and so she had to create a character that could go on stage and you know dance the way she does and dress the way she does and singers the way she does right? Whenever I spoken to grant off camera is very different

 

Seth  

variation you want you what’s very interesting. So you know the same thing with Kevin Right? Everybody sees Kevin on TV you know he has his one liner is great. In person such a gentleman like great guy like very down to earth I very easy to talk to with Grant. If you look at Grant when he first started on social media, you can see the change in the Persona. It because like you’re always testing Hey, what’s working well, what’s not working? Well, you know, the way I am in person is very different to me. On this podcast. Yeah. No, like we’re pretty good. But But yeah, like, you know, me like refereeing a hockey game. I’m a very different person on the ice because I gotta lay down the law. So let’s

 

Erwin  

Yes, the job. Yeah. Yeah. No different than being like a social media personality. It’s a different role.

 

Seth  

Yeah, for sure. But if you’re always vanilla, you have nothing to say. Right? Right. You have to have strong opinions. And you have to like plant your flag somewhere and you will repel some people, but then it will increase your attraction level to the people that really resonate with it

 

Erwin  

back to grant. I don’t share love his opinions. But he’s also He’s a gentleman. Yeah. Like when the cameras aren’t running. Like when we’re just talking normal. He is very polite. He’s very kind. His staff love him. But ones I’ve talked to, I’m sure. Of course, he did have staff isn’t that don’t like him? Yeah, he was very public. He slashed like what? Two thirds of his company? Yeah. Oh, yeah. So of course, he’s gonna have people that absolutely despise him. But the people who stayed on, I think a lot of them really like him. And I’m pretty sure a lot of his investors are very happy with them. Yeah.

 

Seth  

And I think too, like what happens is, you know, when you’re polarising like, you build your tribe, right? And that’s what’s really going to attract people to you. And that’s something like, I’m not great at like, I have to get better in terms of really planting my flag and making my opinions known. And that way I will repel the I guess the wrong people and attract the right people. Well, Grant said

 

Erwin  

something I forget when he said it is point was exactly about his investors, his investors really like him, because he pays them every month or whatever it is, right. And this is not a promotion for anything that he sells. Right? First of all, it’s American. So we never really truly Hartford unique Kenyans get a hold of anybody. My point is, he has lots of fans among the people that matter most to him, before he can print his employees and his investors. And I find that generally true. In my observation as a real estate investor, like there’s some people in an industry I don’t like, but I always find their investors still likes them. Because they make the money. Yep. So for so for anyone who wants who anyone who wants to have more happy people in their lives, make the money.

 

Seth  

Exactly, exactly. And the other thing too, is he just like he has built such a very impressive group of companies that he runs, you cannot do that? Well, I guess you could like there are examples where you can be an absolute dick and run a company but like, people have to want to follow you to get to that kind of level. Same thing, like you know, you’re looking at yourself in charity, like you guys are good people, and people want to work with you and follow you because of who you are. Like if you’re just being a dick, like, leave

 

Erwin  

out and be gone.

 

Seth  

Yeah, in grants team has been great to work with, like really excited to, to have them be a part of this. And yeah, like my goal is to put like the best lineup of speakers on stage for the multifamily conference. And we’ve definitely done that. And we still have some people we haven’t announced yet. So there’s still some more surprises coming up and more budget to spend. You don’t want to know the budget. So we have we have 10X the budget.

 

Erwin  

And it’s not even an all day event. There are native ads.

 

Seth  

Oh, yeah. So we’ve got Yeah, on Saturday. There’s like the CN Tower party, and then that’s for VIPs Platinums have their own party. So we have two parties on one basement this

 

Erwin  

entire right now we’ve got one if you want to be if you don’t want platinum, no so actually, no, where are the platinum people?

 

Seth  

Yeah, so the platinum they’re actually Got a venue at the mtcc. So you don’t have to go very far for the platinum networking party. And then Sunday night, that’s our like, last year, our after party was great. We had somebody ended up in the bathtub at like four o’clock in the morning. So it was it was great. So that’s why we went with rebel. And that’s Sunday night. So we’ve got like a special VIP networking dinner and then we’re just hiring a DJ. Now. I think everybody will be very happy with that. And yeah, like lots of cool stuff.

 

Erwin  

But what is Rebel for those who don’t know, I’m sure some people are coming from out of town actually, for you know, there’s a lot of people coming.

 

Seth  

Yeah. So last year, we had people come from literally every state except Alaska, and every province in Canada. So and this year, because of the border situation is a lot more open. Like we’re attracting people from all over the place, which is like it’s a North American Conference. But yeah, rebel nightclub is one of the top nightclubs in the city of Toronto. It’s right on the water. So basically, when you’re at the there’s like a balcony there, you can look across the lake at the CN Tower, like you get the cityscape, amazing location. And lots of really big artists have played there. Like as soon as I said, we’re going to run a huge like after party. I’m like rebel. So we got it done.

 

Erwin  

It will be fun. CN Tower can only be taught by rebel rebel and

 

Seth  

then like mtcc.

 

Erwin  

But then you’re working away. We’re not talking about what’s after. Oh, well, we

 

Seth  

can allude to it

 

Erwin  

was filled the bag. Yeah, I should have told me anything.

 

Seth  

Yeah, so we’ve got something special that hasn’t been announced yet. And depending on when this airs, I’m not sure. But yeah, we’ve got like a two days something special for like, we’re running the Friday Bootcamp for beginners. We’re putting something special together for more advanced people on the Monday, Tuesday immediately after the conference. And really excited about that. So it’s going to be more for like experienced investors like really looking to make some big changes in their business. I can’t really say too much yet, but it’s going to be a really cool two days.

 

Erwin  

Yeah. Remember a grant did the same thing as growth conference. Yeah. The stamina on demand. That’s right. Yeah. You’re a lot younger than him. So you probably have like 10 Extra stamina.

 

Seth  

I don’t know about you like after your conference. Did you just go home and sleep? Like did you just collapse

 

Erwin  

the for about three, four weeks? Yeah,

 

Seth  

yeah. I remember last year, they lost my car keys. Because did I tell you about this? No. Okay, well, here’s a quick little tangent. So the conference ends, everybody’s like taking stuff down, down. I go to my greenroom. And I’m like, oh shit, Where’s where’s all my car keys. And like, all my stuff was gone. So we had the staff everywhere looking for my keys, looking for our like, probably an hour and a half looking for my keys. And it turns out somebody had collected my stuff and like, given it to somebody who was no longer there with like the takedown crew. So anyways, we got my car keys, I got home and I just like collapsed. Like it was like my face hurt from taking so many selfies with people and everything. Like you know to write, but yeah, it was I was done. So

 

Erwin  

I was a one day event. Yeah, your five.

 

Seth  

Yeah, basically. And like I’m, I’m like teaching the bootcamp on the Friday. I’m there Saturday, Sunday, and then myself and two other people will be running the the advanced course.

 

Erwin  

But you’re you’re gonna announce another five days after that? Because we’re looking for 10x 10x.

 

Seth  

Yeah. I don’t like it. Like we’re already talking about 2024. Because that like, you know how these conferences go like, like, they’re beasts, right? And, yeah, it’s insane. It’s insane.

 

Erwin  

to feast on a treadmill.

 

Seth  

You Yeah, actually. Well, I ran a meeting this morning on my treadmill. So again, my steps and I see your treadmill over there. So it’s collecting dust is collecting dust. We get it out. But yeah, no, because there’s no pacing that is paced to the office instead. Oh, gotcha.

 

Erwin  

What else? What else about the conference? And also people know?

 

Seth  

Oh, like, basically, if if you came to cause a couple 1000

 

Erwin  

people going, can we say that? Oh, yeah. I see that. Oh, yeah.

 

Seth  

Like we are the largest real estate investing conference in the country, like hands down. The budget to Yeah, yeah. Yeah. Every time I look at the budget, I started sweating. But 10X speaker quality. Yeah. Well, last year, we had a great speaker lineup. And Kevin was awesome. Kevin was great. And but this this year, like we’re like, we thought grant and a rod and everybody else I mentioned like, I’m so excited about that.

 

Erwin  

Speaking Kevin, I actually enjoyed the pivot. You guys have to do hope you don’t mind me talking about it. So yeah, for sure. Because there was no meet and greet with Kevin for the because of his, his strength or skill.

 

Seth  

Yeah.

 

Erwin  

Can you explain what happened? Yeah. So

 

Seth  

what happened because of all the COVID, the COVID stuff, so I didn’t want to get him demonetized on YouTube by saying that. Because of all the COVID stuff, the Screen Actors Guild actually prohibited anybody who was contracted with them from doing meet and greets.

 

Erwin  

So Kevin, because he’s on TV. Yeah, yeah, biggest

 

Seth  

TV show. all right. So he was speaking about rare event, he’s still funding falls under that umbrella. And it wasn’t coming from him. Like if it was up to him, he’d be like meeting everybody. So yeah, it was unfortunate. So we did a q&a with Kevin, which I thought was awesome, which was great. Yeah. And actually, we kind of took that idea. And for this year, so with Grant Cardone grant is doing his main presentation. But then for VIP tickets, he’s doing a special private session, just for VIPs right after in the VIP area. So that will be a chance to actually like, ask questions and get more of a, like a one on one kind of field with grant. So I’m actually really looking forward to that as well. But we’ve got like, we felt like 160,000 square feet for the event space. So like, I haven’t shown it like wait until you see like this the stage and the AV like speaking of taxing the budget, like we had lots of fire last year on the stage to annex the fire. Oh, like that was callin my son’s favourite part. So like, he say, no more fires like, okay, let’s add some more fire shots and fighter jets flying. Yeah. Because like, okay, so this was my pet peeve with like most real estate events, right? I was actually having a conversation with somebody who will be speaking at the conference about this, like most real estate events you go to, it’s like a ballroom, you’ve got roundtables, you’ve got a PowerPoint presentation, and you’re falling asleep. And like, I’m a big fan of like, needing the energy, they’re needing the annual to feel and to get like, You need to feel there plus the quality content. And not a lot of people merge the two. And that’s my big vision for the conference. Like, yeah, we’ve got the fire, we’ve got the energy, but we also have like, really good people on stage.

 

Erwin  

Okay. I thought, Man, that’s musical guests. Oh, no,

 

Seth  

no, no. Drink? No, I don’t have to budget for that. But actually, well, speaking of that, so for the after party, we were actually looking at some pretty major people to come in. And then I ran a survey. And everybody’s like, I just want to DJ because I would just want to network and dance. But yeah, we were actually looking at bringing some very, like heavy hitting musical acts. But people said they didn’t want that. So we cancelled that. So yeah, so the experience is there. And then we’ve got a huge tradeshow components. So we have lots of exhibitors, ranging from services, education platforms, like you name it. We’re still booking exhibitors there. So

 

Erwin  

as you saw you saw space for exhibitors.

 

Seth  

And sponsors sponsor being the sponsors. Oh, yeah, we’ve got so much space for that. So yeah, if you’re interested go to multifamily conference.ca we can hook you up with

 

Erwin  

is there a separate LinkedIn contact for specifically for sponsors, there’s

 

Seth  

a button right on the on the page, and then you’ll get hooked up with our sponsorship team and they’ll take care of you like we do everything custom. Right. So if you’re looking for a specific or you’re

 

Erwin  

finding cookie cutter, yeah, so I did my own.

 

Seth  

Exactly. So yeah, like if you’re looking for specific portion of the audience, for what you’re doing. Like, we can definitely do that. So yeah, we’ve got lots of demographic data.

 

Erwin  

Good, good. Good. Yeah. Cuz I borrowed from your presentation. Yeah. Thank you again for sharing.

 

Seth  

Oh, yeah. No, no. I learned it from somebody else. And yeah, I feel like you’ve been such a good I don’t know, like support, kind of friend. Like, you know what?

 

Erwin  

Support animals.

 

Seth  

I remember like, calling you being like the world’s ending, and you’re like, oh, no, everything will work out. and stuff. So yeah, like, you’ve been so awesome. Ever since I started this kind of crazy idea. So yeah, thank you. Happy to help.

 

Erwin  

Yeah, man. Just enjoy helping. Yeah. I mean, again, like, you know, I’ve been through it. So you definitely have not this not tenax.

 

Seth  

No, but that’s just me being crazy. And Darcy is always on me. She’s like, you’re doing what again? Yeah.

 

Erwin  

So you know, silly analogy is talking in my head. It’s like when I drive in the forest. Even though it costs money. I’m grateful. Because the damn thing cost billions of dollars. And I’m able to pay like 20 bucks to use it.

 

Seth  

Exactly. Exactly. One of my very, very, very good friends. He’s like a second father to me. He actually ran the legal team that did all the land assembly for the 4070 My God, really cool. And then the province. Yeah, the province did that all in house, they were going contracted out and he was like, no, like, our legal team can do this. And it was a big shift in terms of how MTO and the government did their stuff. So

 

Erwin  

yeah, but my analogy would be to to your conference would be like to speak get pay a small amount to benefit from your 10 excise budget.

 

Seth  

Oh, yeah. No, like Yeah, like you know, our lowest price ticket. Like we still have some specials but prices go up every week Right? full price is 500 bucks. So like 250 bucks a day for like literally the top people in the space. I think that’s a steal. Yeah, a steal.

 

Erwin  

There probably isn’t another opportunity to see a rod or grant in Canada.

 

Seth  

No, unless you go like the grant runs his growth con but that’s not a real estate specific event like We are Real Estate specific. So yeah, like plus networking, the quality of people, I literally got, like, hundreds of emails last year messages from people after the conference, the most consistent thing was like the quality of the networking and the attendees. People were blown away. And like, my phone still blows up. Like every week, I still get people messaging me like, last year, like one guy. He thought he was done investing, that he’s like, Yeah, I had a good portfolio. He came to the conference. He’s like, Oh, I’m really missing a lot of stuff. So he sent me a message like a month and a half ago. And he’s basically three x’s portfolio in the year, less than a year since the conference, because he just saw what other people were doing. He got inspired. He learned some new stuff. And he basically went from being retired to now like more energised and invigorated within this is investing. I love that stuff like that. That’s that’s the coolest part about running the conference. So you do

 

Erwin  

other things besides run conferences? I understand you’re a real estate investor.

 

Seth  

Yeah. The conference is like a beast. Like it’s like, it’s a full time job and a half. But yeah, so we like you alluded to, like how it’s hard for Canadians to invest in us real estate. Right. Talking about complicated. It’s very complicated.

 

Erwin  

My understanding is majority of folks are going with all cash. It is like, like financing is you don’t take your financing as a Canadian. Well,

 

Seth  

yeah. So depending on like the size of the asset, and then how you’re like structured, like Mom and Pop.

 

Erwin  

Yeah,

 

Seth  

for sure. It’s, it’s tough. And so we’re working on something right now, that’s top secret. But we’re basically making the easiest way for somebody to invest in us apartment buildings around, like whether you’ve got $10,000 to invest or like million dollars to invest. It’s going to be registered funds, whatever. Obviously, I’m not soliciting anything, because it’s top secret, but it’s going to be bite if you want. So it doesn’t even involve Yeah, so. But yeah, I’m really excited. I’ve got two great partners working with me on this. And it’s, it’s really going to like, I believe it’s going to revolutionise how people invest in us real estate from Canada, it’s going to be so cool. I’m so excited. We’re not even partners. No, everything’s top secret yet. But I think everything’s on track to launch at the conference, where she’ll be like, really, really exciting because like, there’s a lot of legal work that goes into this. And accounting instruction work, like you shouldn’t see like this structuring side. But that’s on our end, like for the Canadian investor, very easy, like the easiest thing you can imagine, which is important. Like I want it to be like really investor friendly. And that’s like the main thing that I’ve always been really adamant about. It’s just making it very simple and straightforward, easy to understand.

 

Erwin  

I believe everyone can do some passive diversification of view into the US. For sure. I think I’d be silly not to it

 

Seth  

is the US economy is a juggernaut. Like we are literally a drop in the bucket compared to the US, like the US is the home of capitalists are

 

Erwin  

noticing us, but you’ve drilled down into much stronger markets. Oh, yes. So throwing darts at a US map? No, no, no.

 

Seth  

Yeah. Like I have seven like key drivers I look at when we’re looking at markets. And you know, we’re very selective in where we look.

 

Erwin  

Are we secretive about what state you’re looking at? Oh, no, no,

 

Seth  

it’s no secret. So So yeah, whenever we launched this top secret product, but we’ll be focusing in like, you know, Florida, Texas, you know, Arizona. States like that, where you’ve got the really solid growth drivers happening. good policy, too. And yeah, really excited. Yeah, landlord friendly laws landlord friendly. Like all that stuff is taxes. Yeah. And like, let’s say you wanted to invest in like a US syndication. Number one. Most US operators don’t know anything about CRA and the cross border treaty. So the election, they are a drop in the bucket. But that’s the thing, right? So they don’t know they’re not structured the right way, you’ll end up paying double tax, nobody will know who to refer you to who knows what an EIN number is, as a Canadian, how you have to register for one withholding tax, like all that stuff. So our goal is to eliminate all of that we take that on ourselves, and just make it super easy for the Canadian investor.

 

Erwin  

This is make it clear, this is more like a real estate investment trust that people are buying into syndication. You know, some of the folks who’ve been around longer to think syndication they think like fortress. Oh man. Yes. Yeah. Nothing

 

Seth  

like that, ya know? So there’s a big, big, big, big difference between mortgage syndication and equity syndication. So mortgage syndication is hey, somebody gets a whole bunch of investors together and they loan that money out on debt. Yeah, gigantic mortgage. Yeah, for sure. And you know, there’s a time in place for syndicated mortgages lots of developers will use

 

Erwin  

I won’t put any money into it don’t

 

Seth  

ever know. When I say syndication and you know, like, for instance, at the conference, Brad zoom, rock, Grant Cardone janela page all those speakers are talking about cynic. ation and funds syndication there, we’re talking about equity. So you’re writing a check, and you’re getting ownership of the actual asset in terms of equity, not debt. And then with equity comes depreciation, you get tax benefits, you get the cash flow, all that kind of stuff. Dividends. Well, so yeah, so when we talk about how people make money investing in multifamily real estate, you have your distributions. So you’ve got like the cash flow, all that kind of stuff, monthly, quarterly, however, people structure it, and then you have capital events. So that’s like refinances sale of the asset, that kind of thing. So that’s syndication, where you were going with your question was, syndication is great for a project by project basis. So that was my focus before where it’s like, okay, we’re going to do this asset, we’re going to raise the money, we’re going to take down the asset, manage it, and then we sell the assets like 100 unit building, right. And then on the fun side, it’s okay, now the fund is going to go and acquire, let’s say, 20 buildings, it helps the investor diversify over many buildings. It’s the capital right now. And the reason why we’re doing what we’re doing now is, we’re really excited about the economic conditions at play right now. I think over the next two years, we’re gonna see a lot of good opportunity. So we want to make sure that we have the powder dry, so we have the money raised and ready to go. So we can pounce on these assets in a more efficient way. And because of the Canadian aspect, doing it the way we’re doing, it is a million times easier than doing a syndication. So we’re, again, we’re streamlining the process, making it easier for everybody easier to understand.

 

Erwin  

And one can invest Canadian funds. Are they convert to us? Or?

 

Seth  

Yeah, so it would be they would invest using Canadian funds, like everything’s tailored for the Canadian investor. And then obviously, we like we have our US investors too, and they’ll participate in a different way. But yeah, like it’s just quite like it’s tailored for Canadians. I can’t say too, too much right now. But it’s just I think it’s the might be the the biggest game changer in Canadian investing in us real estate. Oh, yeah. It’ll be huge.

 

Erwin  

Come back when you can share.

 

Seth  

Yeah, well just come to the conference. So and you’ll learn all about, because it’ll be announced in there. Yeah. That’s exciting. Yeah, I’m so excited that two other partners are really excited to

 

Erwin  

is one of our partners has to come on the show. So Paul, is scheduled for last for the conference. Yeah.

 

Seth  

So yeah, like I’m so excited because like, I’ve been like working in the space. And when we all got together and said, Hey, listen, like these are the problems. This is what we want to do. It’s like, oh,

 

Erwin  

like this could be really huge. For my own understanding, is this no different than like a private equity REIT?

 

Seth  

Well, REITs are different, right. So with the REIT, you’re basically buying a stock of a company that happens to own real estate, right. And without getting into specifics, like most of the time, you’ll have like a publicly traded REIT, you don’t have the ownership benefits that come with having the equity side. So we’re talking think more like a private equity fund, where the you’re investing in the Fund, the fund will then go acquire assets, and you still have ownership of that. It’s not like you just don’t own a piece of paper on a public tree and publicly traded company.

 

Erwin  

So then you did get to do something similar to like, like, for example, your sponsors at your last show. Do you need like an exempt market dealer to represent you? Are you gonna do yourself? Yeah,

 

Seth  

so we’re licenced. So with this comes a whole lot of, I guess, compliance overhead tonnes tonnes. And you know what, whenever I think we talked about this last time, I was on the show with people who like raise money the wrong way. What’s happening? I can’t believe it. Yeah, I was in Ottawa a couple of weeks ago doing a talk there. And I had a conversation with Christian spud Fogle who and it is ridiculous.

 

Erwin  

Yeah, it is ridiculous. Harry Stinson, I think is out of business over this.

 

Seth  

Oh, really? Yeah. Like it is insane. Like the amount of like trash people put up like you can’t guarantee returns. Like you can’t you can’t solicit. Okay. It’s insane. So anyways, like compliance and everything. Yeah. So our plan, like everything runs through in the end, we stay compliant. Like that’s really important to me to like, in terms of doing everything above board has to be scalable. Yeah. And it’s just, you know, we’ve had some high profile people blow up. Yeah, it’s really important to me, like, you know, I want people to have confidence if they’re investing in our top secret thing that I’m not soliciting for in any way. But if somebody chooses to, to work with us in any way, like, they should feel confident that you know, we’re it comes down to like our legal team, our accounting team, like we’re working with some very top tier people to make sure it’s, it’s the best product possible.

 

Erwin  

And then also the most compliance stringent laws in Canada

 

Seth  

for sure. Yeah. Well, and then we look at like capital raising laws in the US. So with us, because we’re working on both sides of the border. We have to play well with the American laws as well as the Canadian laws. So it’s, that’s why the legal team has lots of billable hours right now. Making sure we’re compliant everywhere. Yeah, so it’s loaded. Yeah. Crazy. But yeah, like I’ll be able to share more at the conference. Like if everything’s on track now. We’re doing some legal stuff right now. But yeah, it’s going to be really, really exciting. Is that the the last hurdle? It’s legal stuff? Well, yeah. So like, we’re probably got the buildings under contract. No, no, but we’ve got a couple of weeks we’re working on. But yeah, we’ve got about two more months worth of legal, like securities kind of stuff and, and building things out. So but yeah, we should be on track. That’s exciting. Yeah, it’s a really cool process. Like we’re working with some very experienced people. And I’m in the space and I’m still learning about like, the the Canadian, like cross border stuff, too. For

 

Erwin  

anyone who’s listening. You gotta be like, wondering, juggle all these things. He’s getting married. It’s got a conference for a couple 1000 people. He’s starting a fund. And those properties are like, like a four or five hour flight away.

 

Seth  

Yeah. So well, what’s the fun like it? Like it allows like we’ve got, we’re talking with some very experienced people that will be coming on board in terms of like acquisitions and everything. And we’re talking like, really, really cool people. So that helps. But honestly, like, Katie, that’s the answer. Like Katie is my Director of Operations, she runs everything. I would not be able to do anything without Katie. So Hi, Katie, if you’re listening, but

 

Erwin  

Katie asked for a raise.

 

Seth  

She got she got one after the last conference. Yeah, it’s like time management. But like, I think the thing I’ve learned is, you know, there will always be something to do. And I still struggle with this. So you know, at the end of the day, there’s always another 20 things I could be doing. So it just makes me prioritise. And like think about, okay, well, what’s going to have the biggest impact on the business or on what we’re doing? And I’m finding is like, I can actually drop some stuff. And it doesn’t necessarily have a huge impact. And I’m learning to is kind of like the CEO kind of front person is like, I have to be very careful while I’m, you’ve learned this too, like, I have to be very careful about where I put my attention. Because I my schedule literally is like, schedule in 15 minute blocks. So like from the morning all the way tonight. 15 minute intervals. It’s insane. And your dad, Oh, yeah. Plus my son and everything to like, he’s got hockey, like I coach, his hockey teams and everything. So yeah, it’s a whole point. Now. He’s six.

 

Erwin  

And they play like regular like full ice hockey.

 

Seth  

No, no, no, it’s like halfway. So it’s like in the morning, so it’s like tomorrow. It’s like 830 in the morning. And the kids have like snot pouring down their nose, and it’s fun. I like That’s cute. Yeah, yeah, it’s good. But yeah, it’s insane. are going to referee ever again. You I didn’t come back.

 

Erwin  

I didn’t come back to this. We’re talking about oh, no, no,

 

Seth  

no, no. So like, last year, actually, I came back. So before I was doing like, I gone to the states did some hockey there and then came back and worked the OHL for like nine years. I think it was I’m not getting around all around Ontario. Oh, yeah. Yeah, everywhere. I packed them in like five, six years ago, I retired. I didn’t skate at all for five years. And then last year actually started doing something like the, like more local junior hockey, like once a week. So it gives me my hockey fix. So I stayed within like an hour bubble. So like I’ll do like University of Guelph. That’s close, like Laurier and Brock. Stuff like that. keeps you fit.

 

Seth  

I bet you bust your butt. Yeah, it’s good. Actually, you know,

 

Seth  

the cool thing for me is I wanted to prove to myself that I still had it because I hadn’t done it for like five years, but it was like riding a bike. Like it was like I’d never left. There’s just some kind of games. Yeah, yeah. The he keeps one that the slimming Centre in Guelph. A couple like a month ago, month and a half ago. He loved it. Like it was like a full house like 5000 people there and he loved it. Yeah, they have 5000 people there. Yeah, it was a special event game. So usually they don’t have that like with the OHL like you go to one didn’t like that place holds What 910 1000 people. It was awesome. Yeah. Lots of fun. You’re getting like that refuse such chant. Oh, all the time. Get off your knees. Yeah, you’re blowing the game.

 

Erwin  

The funny thing about the refuse suck chant and not about that. It’s just like the hometown fans are all incredibly biassed for sure. Oh, for sure. You’re out to get my team.

 

Seth  

Yeah, but you know what, like, you have to be kind of crazy. I’m not sure how we got onto the subject of hockey. But yeah, like you have to referee at a high level. You have to be kind of crazy. And you have to, like thrive on the pressure. Because like, you’ve got 10,000 people booing you, and like something happens and like you have to make a split second decision. You have to be very confident. You have to be able to adapt, and then you have to thrive under pressure. And most people can’t do that. Like it’s a very specific personality type and live with mistakes. Yeah, well, I think maybe hockey helped me run a conference. I don’t know.

 

Erwin  

But But yeah, just hockey fans out that memory. I always love never forget the like Terry Fraser and Doug Gilmore. Yeah.

 

Seth  

Yeah, like a carry wrote a book and like growing up his favourite team was the leafs. So but

 

Erwin  

yeah, we’ll get off hockey though. You talked about fundamentals and the Friday of the event. Yes. You mentioned this opportunity think there’s opportunity next two years. Yeah. So I have my own biases where the markets going, what do you see in the market? Why is there opportunities? Well, I think what’s happening, especially if it worlds was ending, is we’re going into recession and all this while the road is always ending.

 

Seth  

But, but yeah, okay, it’s looking at it specifically from like a multifamily like a larger multifamily standpoint. Over the past couple of years, a lot of people got into deals in using bridge debt. So short term debt, you’re paying a lot more for interest rates. And then with the plan of rolling over into conventional financing after they implemented their value added programme. What’s happening now is those bridge loans are coming due. And interest rates are a lot higher, so they can’t roll into another bridge loan. And the property values have dropped or their business plan wasn’t able to do what they wanted to do, or the property now can’t qualify for conventional financing. So there’s going to be a lot of people in some difficult situations coming up, where it’s a solid property, they just put the wrong type of debt on the property, certain amount of cash, yeah, they’re stuck, they were over leveraged, right? They were stuck, and you can over leverage a house, you can over leverage a five Plex, and you can over leverage a 200 unit apartment building, it doesn’t matter. So and for those reasons, I’m very much looking forward to the next, you know, 1824 months. And you know, it’s an opinion that shared not only by myself, but you know, the partners I’m working with, and some other people I really look up to in the industry. So you’ll be seeing some some people making some big moves over the next couple years, especially in the apartment space, in terms of like deploying an insane amount of money. Insane, right.

 

Erwin  

Yeah. And that’s, that goes to the point where you’re doing an equity syndication versus a debt syndication. Yeah. We have equity. You don’t have debt service, yet. Well, yeah. So so same debt services these guys are probably dealing with

 

Seth  

Well, no. So so just to clarify, we still put a mortgage on the right. But the the money we’re raising is

 

Erwin  

like, for example is like the investor today will have a tough time putting like a HELOC. a HELOC for a down payment and getting a mortgage. Now, your blended rate still over 6% somewhere, you know, I mean, but you know, that’s what I’m saying. Like you’re using cash, essentially, renters are pulling cash. So there’s no debt service on that money to be able to buy apartment buildings,

 

Seth  

correct? Yeah. And then, you know, the profits are split with like, you know, we can go into how everything’s structured, if you want but yeah, like, you have all the benefits of ownership, you get the depreciation, the tax credits, you have the strong cash flow multifamily provides, you have the stability, and then you have the appreciation aspect through, you know, value add components. So to me, like, if the markets getting Rocky, I want to put my money in apartment buildings, like it’s you look at any other real estate asset class apartments when hands down, looking at the past three, three recessions.

 

Erwin  

So poof, the future is all bright and sunshine and rainbows.

 

Seth  

Well, it turns multifamily. No, no, like we still have lots of issues going on in the economy. Right now. We have lots of issues going on in the world. But I look at, you know, if I look at the past three recessions now, obviously, nobody has a crystal ball. But chances are if an asset performs a certain way, the past three times, it’s probably going to act somewhat similar the next time. Probably someone has a

 

Erwin  

better asset class, please let us know. Yeah. Because we have we will come investing with money.

 

Seth  

Yeah, exactly. And if you have a working like, crystal ball, let me know, too. And I’ll pay you a billion dollars for it. But, but But yeah, so if I’m expecting some choppy economic waters, which I think most people are, where do I want to put my money? Not in the bank, you know, very few places, but apartments like it’s proven performance. Yeah, that’s a great safe place for my money that’s actually going to produce cashflow. And appreciate

 

Erwin  

and some diversification outside this country.

 

Seth  

Oh, 100%. Yeah. And lots people have different differing opinions on what you know, the direction things are heading in the country and stuff like that. So yeah. Interesting. Yeah. And also, you will be investing in the business that generates revenue and US dollars. Right. Let’s have no, it’s not bad at all. Good stuff. Yeah. Interesting. That’s why I’m so excited. But I can’t tell you too much.

 

Erwin  

We are not soliciting money for this. No, I

 

Seth  

am not. No, no. No entity is like we’re still working on the legal stuff. So yeah. Awesome. Where can

 

Erwin  

people find out about the conference? Because everything seems like the world starts with conference.

 

Seth  

Yeah, but yeah, my world. My day starts with the conference. And it ends with the conference. So yeah, the conference website is multifamily. conference.ca. And, yeah, like ticket prices go up every week. So the sooner you buy your ticket, the more you’re saving, and just hurry like VIP tickets are almost sold out. It’s like the very best ticket we have. And then platinum sold out last year and we’re selling a lot of platinum stew so they will sell out as well.

 

Erwin  

But you don’t want to platinum because you end up in the basement. You want a VIP.

 

Seth  

VIP is like the top ticket like for sure. And like the quality of people there who I know have bought a ticket. It’s a really cool room. A really cool room. Terry and I are

 

Erwin  

proud sponsors of the multifamily conference as well. Yeah, you

 

Seth  

guys send come visit ermine and cherry. And thank you guys have a booth there and everything too. And you guys will be working the room. So yeah, awesome. Yeah.

 

Erwin  

All right. Any final thoughts stuff?

 

Seth  

No, just, well, final thoughts. Somebody The conference will have a whole lot of fun. And, yeah, just appreciate everything you’re doing.

 

Erwin  

Back to the forest analogy. Yes. It’s like watching this these $300 million movies, which is pretty close to your budget. Pay, like, I pay like 16 bucks for that ticket. And I’m like, I’m so grateful. So I’ll spend all this money for you to enjoy this

 

Seth  

for you look at it, like I know what I’m paying people right to show up. And so, you know, if you wanted an hour of their time, I know what you would pay for that. Right? So I’ve kind of taken that we’ve got all these people on stage. And you’re getting that for like a small, small, small, very small fraction of that. I think it’s a no brainer. Plus, like it’s not Yeah, sure you’re coming to learn stuff. To me the real the real value is networking. Like if you’re looking for an investor, somebody’s they’re looking to place money. If you’re looking for a potential partner, somebody’s they’re looking for another partner. If you’re looking for deals, somebody’s got deals, like there’s so many stories from last year where people came, found what they were looking for, and I’ve been able to take action on it. And that’s why like zoom networking drives me nuts, like zooming events are great. But like you’re sitting here in your pyjamas eating food, like you’re not networking, like you have to show up in person being in the room. And that’s why I’m so passionate about like, that’s why I stuck my gun last last year with the conference. And for this year, like you have to be in the room. And that’s why we have three different ticket tiers depending on who you’re looking for. And the date again. Oh, May 26 to 28th It runs Friday to Sunday. And then stay tuned for an announcement for something on the Monday and Tuesday for like the more experienced operator

 

Erwin  

fibres. Is there a ticket level that gets you into your bachelor party?

 

Seth  

The bachelor party? Ooh, I think that would be the ultra VIP.

 

Erwin  

We haven’t come up with that yet. Yeah, tax surprise for that one.

 

Seth  

Yeah, to be honest, I haven’t even like I’ve been so focused on the conference. I haven’t even thought of a bachelor party so

 

Erwin  

we can discuss it after you’re gonna

 

Seth  

discuss. I’m actually doing an event in Vegas in the start of May. So maybe I’ll write down some ideas.

 

Seth  

Thank you so much for doing this or finding 50 minutes and your schedule for this. No, I blocked off like an hour and a half for you around. So thanks so much. 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. Find out for yourself but 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.

 

 

 

To Listen:

 

On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294

On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

On Spotify: https://open.spotify.com/show/6Z8yd37AQfQI5DK0J0Xwzz

On Google Podcast: https://podcasts.google.com/feed/aHR0cDovL3d3dy50cnV0aGFib3V0cmVhbGVzdGF0ZWludmVzdGluZy5jYS9mZWVkLw

Youtube: https://youtu.be/Os8I3KQ8ttE