Listen Now

The biggest mindset shift for me was moving away from secure government job to real estate investingI remember wanting to work as a civil servant for the French government, ideally at university level, job security, vacations and pay cutwhen I purchased my first property, took some mindset shift. I educated myself but also spent some time in prayer and meditation to prepare myself pssychologically for the shiftI went all in: property was 3 hour flight away in a different province, with a 1.5 hour car ride, first investment was a fourplex, put in all I had with funds for roof and 3 window renovationstoday when I want to enlarge my horizon, I use affirmations, which will be the topic of next month's episode

start off small with a simple repairincrease to bigger jobsget a contract before doing larger jobsdon't micro manage

I get that feeling sometimes, have a lot of irons in the firebreak it down! Technique I used to use as a teacher with my studentsmake a list and assign importance numbers and look at what absolutely needs to get doneotherwise make sure the important stuff doesn't get forgotten because of the whirlwind, see The Four Disciplines of Execution by by Chris McChesney, Sean Covey and Jim Huling

Discussion about hiring a VA: create list of tasks, explained through videos and get VA to do the tasksWill allow you to scale and focus on the important tasks, decisions making, you delegate the actual work so you can focus on the business itself, working on and not in the businessVA: stay at home parent, hired for several hours a week or from a foreign countryalso to make time to experience and enjoy life, great resource: The E-Myth Revisited by Michael Gerber

Limiting beliefs - price of real estate I would look at | it takes the same amount of effort: underwriting, due diligence, capital raise: you can bring on partners for the raise | legal fees are similar | easier to manage: elect a tenant superintendant, bring in PM company, 1 roof, 1 boiler, 1 parking lot to plow | How do you push through: affirmations, take actions: look at bigger deals, surround yourself with greater numbers and create a solid legal and acounting team. | 

Overall content with where I am at and what I have done with my life so farAct faster on some dealsStart with commercial earlierStart meditation earlier to help sharpen my focusTravel more

relationship to the phone: many tools, work: text contractors and email property owners, entertainment, social media and time consuming | system, there are no true emergency where I can do something, the person needed is the contractor and worst case scenario the fire marshal or an ambulance |  | I am available between 2-5pm Mo-Th for non emergenciessometimes I crave the distraction, the stress, it is difficult to understand | 

In this last interview we dive into the portfolio of a local architect - local to South Wester Ontario, Joseph Passa, who work on grass roofs and vertical forests. Nature and construction!

intro = at the core of any business endeavour, any role with responsibilities: you solve problems. It is no different with real estateyou buy problems, problem properties in CRE and residential: vacancy, under market rents and your business plan describes how you will be fixing them | I was reprimanding my contractor recently for using the word nightmare. It is not a nightmare, it is a frozen pipe, how do we fix it in a sustainable way so it doesn't ever happen again |  | to solve problems you need an accurate perception of reality, no negativity or negative attitudemindset & positivity of pbs= welcome pbs as opportunities to learn and improve one's skills. Becoming an expert at something means that you have faced and overcome most problems, what LPs look for in GP | 

Glen's guest's idea of a project based on Glen's performance to get the family's buy-inaspiration of leading a life of service: service to the tenants, to the investors...work between 9-5 except emergency: put systems in place, some tenants are just bored

slow and steady wins the race |  |  | qualify for the initial property with your current job |  | Find private lender to continue to grow |  | Refinance with a bank |  | Quit your job once you have replaced your income | syndication |  |  | educate yourself |  | join mastermind groups |  | invest alongside someone else to learn and build a trackrecord |  | talk to people around you that are interested in real estate |  | pull your resources together and take down larger deals as you keep growing | 

100 unit multifamily portfolio and now industrial in Tulsa, OK.

affordable housinghuman: care about people and what they go throughrespect rulesforthcoming when late, we can come up with arrangementempower the people that work with mechallenge of affordable and sustainable housing in Canadian climate that I wish to take on and contribute to

opportunity to improve the property and bring it to markethave enough savings so you don't run out of cashflow with 10-15% vacancyoutrun the competitiontime to schedule viewings: I have systems in place but stay involved in screening: potential property to buy and know what questions to ask when screening a tenantI like to ask tenants what they thought of the unit and how we could improve it and what's next for them

this famous saying: "Your network is your networth"but not only from a materialistic perspective: if you have deals and connections you can find investorsthe more connections you have the more chances you have to find solutions to your problemsyou can use social media: LinkedIn, Facebook, meetups, covid is tough but it makes it eeasier to connect with others from the comfort of your officeI have a housing development project for co-living space so I have google alerts about certain topics - including sustainable housing - I read article daily and connect with the key players mentioned in the articles

invest in a province or state with no rent control to hedge against inflationlow income housing like MHPs is a safe way to investmultifamily and industrial faired well during covidin retail: make it covid/Amazon proof by focusing on neighbourhood services

Atomic habits: add habits to each other or stack them: swim, meditate for 30 min, listen to CRE podcast on the way back and forthsystem with accountability buddy: track 3 things, 1 habit 30 lengths at the pool, 1 professional task and 1 personal taskgratitude list translate goal into daily habits