You may know Pierre-Paul Turgeon as a passionate multi-unit investor, educator and ex-CMHC underwriter. But he’s also a real estate investor personally and owns multiple properties in the Edmonton, Alberta area. On this episode of The Your Life! Your Terms! Show he share his journey through the ups and downs of the oil and gas industry in that province. As real estate investors in Ontario, it’s been all roses for many years so it’s a great education for all of us to listen in to his journey and learn how the Alberta situation applies to all of us across Canada. You can learn more about Pierre-Paul and his workshops at: www.
00:00 Hey everyone, it’s Tom Karadza and on this episode of the your life, your terms show we have brought back Pierre-Paul and the reason we brought them back, is it the last time he was here, he talked about multiunit investing and what we could all learn from CMHC underwriter who buys apartment buildings himself, but this time it’s a much different conversation. He wanted to come back to kind of share with people in Ontario what is actually happening in Alberta, specifically in the Edmonton area. He owns a bunch of apartment buildings out there and he’s seeing a dramatic change in the demand in the rental prices because of what’s going on in the oil and gas industry in Alberta. I’m with some of the provincial policies with some of the pipeline stuff with some of the federal government policies, so it’s affecting him directly and he believes not enough of us in Ontario know what’s happening out there, so he’s not in the industry and himself himself, but as real estate investors.
00:51 This is like a fascinating topic because it’s a clear example of how the economic environment in where you are buying can affect your property’s directly. So it’s really interesting to see or to listen to the viewpoint of someone who’s very educated on the topic and what they’re going through in Alberta. So he’s sharing some of his viewpoints on more the economic and oil and gas situation and Alberta. So great conversation, great guy, super passionate guy, as if you heard it before, you’ll remember, if not, you’ll hear it on this conversation. Um, so we get into all different oil and gas stuff to talk about some Justin Trudeau stuff. We’ll leave it at that and listen, if you are listening to this and you want some real estate information for yourself, we have a report together that where we took the cost of university and how much it would cost to get a rental property and mapped out the financial futures of both of these decisions over 10, 15 and 20 years.
01:45 And we are strong believers in college and university. Both of us went there ourselves. Um, so this is not dismissing university at all or college at all, but what it is doing is just kind of mapping out the financial perhaps benefits of one single rental property in your life. And we compare it to the cost of education. We chose university, we put it all in a report with some charts, mapping out the difference in your financial future. If you took the money you were going to invest in university and just bought one property. Again, we are not dismissing the value of an education. We just thought this was an interesting exercise to look at the numbers in this way. If you want to take a look at those numbers, you might find some pretty interesting results. You can get a copy of that report at Rockstarinnercircle.com/university. So we’re, that’s rockstarinnercircle.com/university. With that, let’s get on with the show.
02:36 Are you ready to live life on your terms? Is it time to take charge business, building the economy, health and nutrition and more. It’s like your life, your term show with Tom and Nick Karadza. Uh, are you ready? Let’s go.
03:02 Okay, Pierre-Paul. We are, we are on. Just so you know, so the book that I was mentioning is the Rockefeller Habits. Chapter two or chapter three of the Rockefeller Habits has the best one page business plan we’ve ever come across. You don’t even need to read the whole book. You read chapter two or whatever chapter it is, chapter two or chapter three, the best one page business plan even for a one-person business, a 10 person business, a multimillion-dollar business. This book in front of us. And if you’re listening to this and you can’t see it, so I’ll read it. It’s called Mastering the Rockefeller Habits. Two point. Oh, it’s called scaling up. They’ve redone the book. So I got a copy for myself and nick and that’s why you see it sitting here. I’m just, if you’re listening to this, you should know Pierre-Paul just walked into my office here, which is a bit of a disaster, like usual, and he just starts taking over.
03:48 He starts grabbing books off my desk. I don’t even know. Well, I’m one of your followers. Have some silver right here. I got to move this closer to me. So I read your. You’re at your follower of yours. I read your recommended to keep the mic nice and close. We want to hear it. Alright. Alright. Yeah. But that’s very kind of you. But yeah, scaling up. Okay. Got a copy. If I knew you were going to be interested, I would uh, you know what, here you take this one, you know, I’ll get you take the copy. Hi, come on. No, you know what? It’s my brother Nick can do without lot of these days. So this is the interesting part for me. So thank you. Uh, you don’t live in the area. You’re coming from Alberta. Um, you came exclusively for this podcast. That’s very kind of you.
04:30 I know, I’m joking. I know you’re here doing a bunch of stuff. I’m turning the flushing here at Tom. But anyways. Yeah. But last time we had you on, we talked about all your CMHC days and apartment buildings, which is of course still have interest, but you mentioned something the last time we chatted that I need to understand more about because I don’t think I understand more about. It’s maybe some of Alberto’s kind of politics, not politics, but the oil politics of Alberta and Canada in general. So educate me, like tell us by the way, nick might jump in if, if, if you see him walk in, sit down. That’s what’s going on. Yeah, that’s what prompted me wanting to come and do a podcast with you because we’re, we have a national crisis in Canada, right? This oil and gas business is not just Alberta.
05:10 We’re losing $80,000,000 a day in revenue in this country. It’s not just Alberta. I mean nationally. So that means like hospitals, roads I’ve not built, you know, schools and so on. Right. So, and that’s the problem. And what I find, Tom, is that the debate that the conversation is to hold the mic in front of you like this for me. All right, there we go. I’m going to hold on, I’m going to reach. Hold on, hold on, hold on. There we go. Do it like out. There we go. There we go. I want everyone to come to the California. Why do you know? Before you go further, why do you know? Sudden there’s just stuff you studied yourself. So first of all, because my business, like all of your emotional real estate investor, first and foremost, and I’m significantly impacted my portfolio. One hundred six doors is greatly negatively impacted by what’s going on. This is like fourth year going. This is not going to. Most
05:58 of your properties are obviously in Alberta, in the Air Nelson. Correct. Okay. So that’s, that’s the impetus. But you know, I studied, I was just reminding you, I studied downtown Toronto at Uft, uh, years ago, 35 years ago. And when I was living out East we, we, easterners don’t, don’t have an understanding of the importance of the oil and gas industry in Canada. It is a major player. It is a major, the main contributor to equalization payments to Quebec, to Ontario and the provinces that have less money. So that’s why it’s important to and once since I’ve been living in Alberta, now I do get it and I felt my civic duty to educate people about this and I also don’t like, like I was about to tell you, Tom, the debate, the conversation around that is highly polarized. Uh, there’s a lot of hypocrisy also surrounding it.
06:46 Like, look, I just showed up from the airport men and so I go, man, look at the amount of cars on the highway and everywhere. The amount of new energy I see like me, you wear it a lot nicer. Lulu lemon stuff made a fabric that definitely need oil to be fabricated and all of that. So I just want to use a form like yours among other things we want to talk about real estate and other things, but to kind of make sure that now that I live out west, I want people to understand that reality that impacts every Canadian you’re in. Because I think living here, I kind of discounted. I don’t know. I, I know that Bill Gates flew over the oil sands, you know, when he looked at it way back when oil was going up and we forget to Jane Fonda too. Yeah.
07:24 Oh, did she? Oh yeah. By helicopter over. Forget our good friend. The Leonardo Dicaprio. Did he fly over it as well? Well, he kind of shot the revenue. Right. Then Alberta as that didn’t have snow. He said that the hell global warming this and now he didn’t know about the Chinook. Do you know about the Chinook in Alberta? No. You don’t know. I’ve heard of it, but I don’t know enough to wind that comes from over the mountains and once it dropped what we call that. So in our place in Croatia, we call that the Buddha. That’s the wind that. Yeah, the Buddha, the religion Buddha, the Buddha, Buddha comes over the mountain and it’s so strong that it Kinda like, you know, in the winter months it’ll knock you down. And what happens on the other side of the mountains when the air goes down, I don’t really know.
08:08 Well, in Alberta the temperature can increase by 10 degrees. All of a sudden in the middle of winter you can have not a summer date, but you the temperature will increase by about 10 degrees, so that’s why a lot of the oil and gas companies have their head offices in Calgary versus Edmonton. Edmonton is four hours away from the Rockies. Well, you get the Chinook. The snow melts. You can have that in the middle of a winter. Absolutely. So you’re telling me Leonardo Dicaprio was wrong. It wasn’t global warming. He was just on the wrong side of this. Okay. Now we’re on slippery, slippery slope. Well, it’s environment. I don’t want to be abby. You know what I. I jotted some notes, Tom and you need to know something about me before we go any further before I can tell you myself. I am, but I’m passionate about the environment. I grew up in some small town in northwestern Quebec.
08:54 Okay. Called noranda or ruined Aranda. So if anybody listening to this and Ontario, Kirkland Lake, I’m an hour east from crystal lake. So the border between Quebec and Ontario is half hour east from Kirkland Lake and run renda is half hour inside the Quebec border. The environment is everything to me in a given year. I know you’re passionate about travel. So am I. But the environment is always part of my life. Like I was keying until a couple of nights ago in the, a couple of days ago in the Canadian Rockies. I’ve been this year so far. You know, the lifestyle of a real estate investor. I think I have about 15 days of skiing and the season is just beginning right. But I’m always in the mountains that I chose to move out to Calgary, Alberta to closer to the mountains and the backcountry hiker. I’ve hiked as you know, with my son to Machu Picchu, five days and you know, stuff like that.
09:39 The environment. I’m a fisherman, I’m a hunter, I’m always outside. That’s what I love to do. So the environment means a great deal to me. But what I find about the debate with the environmentalist and, and this is the part of the hypocrisy that I wanted to raise people’s awareness about a debate. This is false. Uh, do you know that most of the campaigns such as, uh, you know, a Neil young that came and all that, a lot of these people and to demonstrate these demonstrators against pipelines are actually financed by US oil interests so that they can take over the market share. This is happening right now. So, uh, walk me through this. They’re paying for these protestors to protest against the pipeline because they want to control the current flow of oil that’s happening from Canada. You got it. Or they just don’t want the extra supply going anywhere.
10:27 No to that too. Because then they refine it. They have more refineries than we do and they sell are cheap oil. As you know, we’re, our selling price has improved recently, but what it is, it’s actually, you talked about Rockefeller, Rockefeller Foundation and this is stuff I brought stuff guys. If you had been thinking about doing this for a long time, it’s my civic duty, man. I mean, people need to know this. All right, so somebody that people can research, her name is Vivian Kraus. Okay. K R a u s e r a and I’m just as an example, holding an article that’s called a cash pipeline opposing Canadian oil pipelines. She’s a researcher that did the work to find out who is financing the environmentalists. All right? And it comes from foundations like the Rockefeller as you know. And by the way, I did read that biography, John d Rockefeller on audible,
11:14 27 fricken hours. Fascinating book. Big Book. Yeah, I know. I mainly retentive Tom Thirteen hour audiobook myself and I’m like, well, you know, that’s 13 hours like this big, uh, anyways, but the point is they’re financing a foundation and I just encouraged people, like I said, I, I, you know, um,
11:37 I’m just trying to do my civic duty because I love this country. You are the son of an immigrant, right? And, and, and I have that sense of belonging from both coasts. I mean, I know mostly from Quebec to the west coast, mind you, but I love this country and we’re, we’re, we’re not doing good to our country right now and that’s why I feel might sense. So anyway, so Vivian Kraus check her out. She’s a researcher out of, uh, out of Edmonton that went back to the source where the money’s coming from to fund those demonstrations against pipeline and the environmentalist and basically it’s the tides foundation and you know, there’s also the numbers I could even. So let me just challenge you then a little bit even though those are funded by some of the big oil companies because they have their selfish interests in mind by preventing some of that flow.
12:21 Doesn’t, that doesn’t discount. Maybe it’s still not a good idea. And this is coming from the uneducated over here. I’m just saying it’s not a good idea. While you’re going to have some people listening to this and saying they should protest because they don’t want this happening. And who cares if they’re paid? These protesters are paid by big oil companies. The point is this shouldn’t be happening building these pipelines because that’s what we’re talking about. They’re protesting against the pipeline development, so I don’t care if they’re funded by big oil I like care about is protecting the environment and uh, if they’re protesting great like Linda is that, isn’t that something that I’m sure someone would shoot back at you. And that’s what I’m saying. Well, so that’s why I stated to you how important the environment. I’m an outdoorsy guy like all the time when I get a chance.
13:01 That’s what I do. I don’t live in a big city. I overlooked the Rockies. I live in the country on a, on an acreage. So we have an issue. I’m not a Donald Trump the disputing global warming, Tom, by any means that this is happening. But I don’t know if you recall was a, you or nick. I sent a chart of how much gas emissions, uh, you know, global warming, gas emissions, Alberta, and to produce and Ken done journal. It’s zero point one, five percent man, zero. It’s not even close to one percent. And, you know, I can send to your listeners, I sent it to you or nick while I forget. Okay. Uh, so, so we’re talking about even with all the carbon tax, which as you know, Ontario and most provinces are now, you know, disputing and fighting the government, federal government to over even if all the best efforts that we’re doing, we’re not saving the world and not only that but then the Americans are selling are cheap oil that comes from Canada and are taking over the market.
13:54 So you’re, you’re saying when you started you said we’re losing $80,000,000 a day so that your big picture here is that we should be developing these pipelines so that we can export more oil, it’ll be profitable for the country of Canada and good for our economy. And you’re also saying that you don’t think there’s a negative impact on the environment here. So in my summer I’m just trying to fit yes, like the law except the last, the not that we as human beings are having an impact on the environment. Sure. Right. So I’m saying, but you said I’m wearing a Lulu lemon topic. Well, and I’m just saying I did look into the open my bag. Your Lulu Lemon stuff because I’m a Yogi. I practice. You have big muscles like Cuba. I’m flexible. I should try. Can you touch your toes? No, I cannot see it.
14:40 I was going to ask you this on your podcast, your challenge. Every muscle on the stiffest. You want me to describe it to your list and then I can lift my leg to stand on one leg and way. That to me is very, very impressive. That’s very impressive. I off topic, you know. No, the point is, you know, let’s stop being hypocritical. Like I said, I show up in a place like Toronto. The energy, our lifestyle depends on energy. We need to do something about the earth. We need to do something, but it can’t happen overnight. What the federal government has done is trying to shove down our throat, uh, this carbon tax and this environmental plan that’s not working as an. And you can tell because all the provinces or, or, you know, reacting against it. Right? Let’s have, first of all, a more balanced debate with some facts in place knowing that we’re being manipulated by some outside, external, you know, interests and environmentalists, that by the way also like the Lululemon clothing and the art directors and all of that, Tom, our lifestyle depends on energy.
15:44 We got to do something, but what Trudeau is trying to do with all these selfies and look good in Paris and all of that, it’s all a show because in actual practice we are not solving the problem. So let’s do this transition towards a cleaner earth more in a balanced and phase transition. That’s what I’m saying about first, let’s get our facts straight and really tell. So what are some of the factors that are wrong? You’re just saying you’re saying the the carbon, sorry, the emissions that we’re putting out there or nothing. Do nothing but they’re very insignificant. We have one of the cleanest oil and gas, like the Dutch stringent, most stringent environmental guidelines in the world. Now I also blame the oil and gas industry over the years for not doing a good job of pr, but I don’t think there’s a lot of people willing to listen to them because now all you hear are the environmentalists who know how to use the social media and all of that and the media to promote their viewpoint.
16:37 I find that the oil and gas could do a better job, but we have some of the cleanest standards. Can I bang on the you? I guess you can’t. Yeah, we’re going to hear it. It’s okay. You Bang a little tune here. I guess for us in Ontario it’s. I guess most of us don’t know, like I myself don’t know how much oil is available in Alberta and I don’t really think too much about the impact on the economy being here because I’m so kind of thinking about Ontario all like what goes through my head is like how much immigration or Rehab has happening here, which is a ton of population growth and stuff, but of course if we have another area of the country thriving, it’s a benefit to all of us. Especially something like oil and gas, but your but you also think that the current policies in like what is it about the federal government policies that you’re not liking?
17:23 Just that it’s a hindrance to the industry. I guess it’s because of the regulations, but again, I don’t want to localize. This is my key message here. Him I don’t want to look like, is that just an industry I just set this country a date is losing $80,000,000. It’s huge. It’s, it’s, this is, you know, the, the equalization payments and all of that. So it’s people losing money. We have a deficit now in Canada. That’s what, $19,000,000,000. Something ridiculously crazy. You. It’s, that’s what I’m saying about sewage. I don’t want to localize this, that the income, the revenue that that industry generates and the primary reason why is Canada doing this. So why do you think that is? So you’re thinking the federal liberal government could be doing more to promote to help this industry that could use the money. So let’s just, just optics.
18:07 It’s I, I am not fond of Mr Justin Trudeau a by a long shot and I, I’ll admit to your listeners, I, I vote for his dad when I was way younger and all of that, but uh, he was handsome. He was a character. He was a character in a much better or greater intellect and his son, I hate to say, but I don’t want to be bad now. Thing thrown down the budget there. Yeah. Well I’m with you from what I study. I don’t remember him. I was young. I did it. I remember doing a high school project on pier two. No, I somehow remember that he used to wear a rose with a little piece of water thing underneath that and he would give you the finger. Do you see that on tv? I remember a man who did not given to you at any given to us the finger as it was leaving Washington, didn’t even give something like that, but I need to research that.
18:48 I love that story. Yeah. No, but I mean it’s the point Tom, just, we, we, we, we need to take that transition over time. So what, what I find is yes, it’s a lot of show because the actual policy, the environmental policy of our federal government is not having the intended impact and it’s not even suiting the provinces and they shot down, first of all, as you, let’s remind your listeners, they bought a pipeline to Trans Mountain pipeline, right? They had to buy it. You think it’s a good idea for a federal government to buy something that should be a private company, not at all. And I have yet to see how was going to be managed. And again even the process we have helped me out. Why did they have to buy it? B? Because Trans Mountain didn’t want to because of all the protesters and all of that.
19:31 And the approval process. Right now there’s a bill in front of the Senate Bill 69, which 60 now will, which will make it even harder to have pipelines. So the point I’m saying is, and we have, again, I just want to reiterate, we have some of the highest standards, environmental standards and guidelines in the world. So why if you know, we, we don’t build a pipeline, so what they have to buy it because Trans Mountain wanted out. They said, you know, we can deal with all the politics and you guys don’t have a good approval process. In the meantime, Tom, and again, I’m not here, like I did bring some articles and a few things to jog my memory and all of that sort of like I have all my facts at the end of the day or the numbers at the tip of my fingers, but people, all I’m here for is encouraged people to become more aware of this issue, which impacts all of us Canadians.
20:19 All right? So I’m about to sue at a higher level without all the stacks, the stats at the fingertips. You know, what’s going on. But that’s basically what happened. They, they, the Trans Mountain got tired of that and they said you build it because. And, and oral. It is Trans Mountain. This is like, this is again something that you may not know. There’s already a pipeline that goes from Alberta to the west coast to the BC, right? All they want is to build a, a twin it, another one, and by the way it’s been in place since 53, the existing Trans Mountain pipeline, so all that project was, was to build a second one next to it. Alright. And everybody’s all in all up in arms. And so basically Albert is putting, producing a lot of oil, doesn’t have anywhere to ship it to their, they’re shipping it by train, they’re shipping it however way they can, but it’s not the same as the one pipeline is being used or is it shut down?
21:11 No, no. The ones being used, but it’s not enough to bring that customer wants to double the capacity. So what happens as a result is that the price of oil, the Alberta oil is significantly lower like until a few months ago was $17 per barrel. That is something I had no idea when I lived in Toronto or lower. I for some reason I thought it was higher because it took them more. Just resources to get that out of the ground a little bit. So that that’s getting very technical. And Tom, I don’t think I want to go with not subject specialists, but yeah, or oil is a bit heavier to refine and all of that. But the point is if you don’t have any market, uh, to, to send it to you, gotta sell it at a discounted price and a few months ago, whereas let’s say, uh, the price of the West Texas intermediate, so that’s the Texas standard was selling at about 47 bucks.
21:56 Our Bird or Alberta oil was selling for 17 bucks sometimes at some point that as low as $14 a barrel. So again, because we don’t have anywhere in new market, no access to the tidewater’s to sell it to foreign markets, to foreign markets. In the meantime, we still ship it because we have also pipelines as usual, Keystone and not anyway, a bunch of other going to the U. s they refine it, they buy it at 17, now it’s at about $50 to a $47 a barrel. Now the Alberta oil sell it to the American which sell it to the rest of the world. They refine itself to the rest of the world. So we are, you know, US Canadians in a, you know, like, we always apologize when there and apologizing were always nice. We’re to fricking nice in this. So what do you think should happen?
22:39 We should have a pipeline going down into the states. Well, we should have. Certainly Trans Mountain should go ahead. They bought it because Trans Mountain didn’t want to, you know, didn’t want to know. They don’t want to deal with the demonstrators and all the bs that was going on with it. Right. So now they’re finalizing and then a judge, a federal judge came out and said, well, you didn’t consult enough with the natives. Uh, you know, so. So now the whole process is delayed. And so we’re losing. I feel like, I dunno, it just feels like maybe only five years ago there were so many jobs out in that area in Alberta. And I know we’re keeping this a national level and you. And it does affect all of us. Obviously, if there’s that much revenue that Canada could be earning through, I guess I’m assuming taxes and that kind of thing.
23:23 Um, but uh, just even locally now in Alberta, it just seems like it’s really changed the dynamic of that. It’s terrible. It’s terrible. What’s the state of the real estate market out there? It’s terrible. It’s terrible. I’m surviving with my portfolio, uh, but income is down. Let’s take a typical a rental unit. Uh, I’m about on average 150 to $200 down per month per unit on average. And I would say somewhere about 200 of course. So percentage wise you’re probably like maybe 20 percent huge. And of course, you know, the city of Edmonton for example, didn’t give me a break on my property taxes and the core utility, my utility bills and didn’t get a decreased or anything like that. So it’s. Oh, and by the way, we do have the carbon tax which has been implemented. This is two years now that we have it in Alberta and this is kind of again like, okay, you’re charging me a carbon tax, what impact do I have?
24:15 And by the way, Alberta and Ontario, because you have a lot of programs to subsidize a energy efficient technologies and all of that. We had that a little bit and Alberta, but now the money’s run out. So I’m, uh, an apartment building owner as you’re listening to survive mode. I’m a multifamily guy and uh, I pay more in taxes. I had this new tax and just think I can pass it onto my tenants. No, I cannot. So it’s pretty dire. Right? And it’s because you have. I thought Alberta had no rent controls. We don’t have any control, but the economy so down and we’ve had the lower ranks and it gets a bit incestuous. I mean, for people interested in, especially Edmonton, like you know, the difference with a real estate market here in Ontario or Quebec, more mature markets, you have way more than the housing stock is huge, right?
25:02 Compared to Alberta, when you get to Alberta admittance, a small town, what is it? A million and same thing with Calgary and what you, what happens now? It’s, that’s interesting for a guy like me because even with my prior knowledge that CMHC, I didn’t see this coming. I don’t think anybody saw this coming. No. And even the insiders, the oil and gas insiders didn’t see this coming so and I, you know, I do hang out with these people so I do know that didn’t see it coming, but in this particular case it was even worse. There was just a, you know, it was almost overnight. It’s overnight and then you have a clique of small or large landlords. Oftentimes rates that they are basically they have the monopoly, like the boardwalk. Boardwalk is out here in terror as well. So obviously they started in Alberta, so when there’s a downturn like what we’re experiencing in Alberta, they are loaded with cash right there on the stock market and all that.
25:50 So they are super aggressive. They lower their rents like there’s dual tomorrow and little guy like me. It’s hard to compete against some of these guys. Are you noticing if they’re buying anything or. No, they’re just lowering their prices. They’re buying at a, you know, at about 20 percent below market value because they can and they buy cash. Can you try to compete with somebody who’s buying cash? Do a financing. I cannot. I raise money privately. So for those people who were not following duke, would you be able to, I don’t know if you know this or not, what were some of the factors that changed the market in it was just describe it. Absolutely. Well, have the same fundamentals. So it’s unemployment. It’s a. we’re at about six and a six point seven percent. Unemployment rates higher. Way higher than the national average. You know, those tests more than me, Tom, but I think we’re at what, three something?
26:35 Four percent in candle river oil. You don’t even know right now. Yeah, I know. I’ve saw, I’ve seen in that range. Right. And so were way harder than that. Uh, there’s no, there’s no job creation people of being, being laid off and all that. So that’s. We used to have incredible in migration. Oh my gosh. We were renting out to people in Hamilton who were working in Alberta. Absolutely. Family was living here, I was flying out there for I believe two weeks at a time, coming back for a week or 10 days, then going home for another two weeks, making a, I don’t want to say a fortune, but good money like it was. Yeah, it was really a high salary and then coming down to dollars and then friends of mine, uh, some from that, Nick went to school from high school, moved out there, electricians, great paying jobs because they were just getting, they were making good money here in Ontario, but making it even better money out there.
27:23 Um, those were the days. Okay. That is so, so, so unemployment is, it’s somewhat maybe even double the rest of Canada at this point, quite double, but it’s three or four points higher and the big change and all of this occurred because the Alberta oil was just, um, it doesn’t have its way out. It doesn’t have its way out. The oil industry lost interest in fighting the Canadian regulations to make this all work. No, they’re trying to. But they’re worn out like you’re fighting against to Justin Trudeau and the system that apparently wants to look good over. What was the one? Was there one fed policy that changed at all or not? But it’s some combination of it. Yet it’s a buildup of everything. Like it’s the carbon tax, uh, it’s, it’s killing. We had northern gateway and something that people don’t know as well, and there’s loss was going on against the federal government.
28:13 A lot of the natives, they want those pipelines you have because they get some royalties or source and it creates jobs and they can come out of their misery and create wealth. I can. All of us want to do. So there’s not just the natives that are against that. There’s a large and especially north. So once Trudeau got elected, they killed the northern gateway pipeline, which is a pipeline that was further north in Alberta and through BC to the coast. And that’s the first thing they did just like that. They killed it. Now I think they probably regret it because now the little problems with Trans Mountain because it had been approved and all of that, so it was under. It’s underway, but what’s British Columbia saying? Are they the roadblock to the second, I forget, I remember that was in their last election or two elections ago.
28:54 What was going well so that just so you had a liberal, a premier, Christy Clark, she was all in favor and she got along with Rachel and everything was good. And then he changed last year, election. Then they went NDP. And of course John Horrigan, uh, you know, the premier do premier of British Columbia didn’t want the pipeline. So, uh, and this has gone to court as well. So that’s, that’s the situation there. But, uh, I’m, I’m told, and this is another stat where I’m encouraging people just, you know, my point here, like I’m not helpful because it factually correct, but the gist is the majority of a, of a British Colombians are in favor of those pipelines because it creates jobs like everybody else. Everybody’s got to put bread on their table, has kids. And the university, I’ve got two in university. Here’s what graduated thinking. Anyway, I can’t stop working, Tom.
29:40 But the point is, yeah, so that’s the majority of the people are in favor of that. Just like, by the way, I don’t know if anybody saw that and I don’t watch tv much. Of course I watched the series on Netflix and narcos and things like that. But uh, uh, it was uh, three, uh, I think it’s about four weeks, about a month or so ago before Christmas, the premier’s got together with Justin Trudeau and there’s a new premier of Quebec, a possible to go write a anyways. And I will not say his name like you just said. Well, yeah, but you can say Buddha though, uh, the famous within in Croatia. But he said, we don’t want Alberto’s dirty oil. Oh Man. I flipped right in my chair. And it’s interesting. Again, these are the kinds of perspectives I want to give people. All right, now I’m going to pull an article.
30:26 Now politics is so crazy. Then somebody within a week did a poll. All right? Because the idea is some people, there was another pipeline that was shot down, if you recall, it was the energy east pipeline. Do you remember that? No. So that’s also an existing pipeline where they want wherever they want it to reverse the flow of oil and send it to Quebec. And uh, you know, the mayor of Montreal, a cadet whom I used to know years ago when I was involved in politics, I said Nope, not in my backyard to name be kind of a syndrome. And it’s interesting. So anyway, a month ago or so when the new premier-elect, uh, you know, met with the prime minister and the premier of Canada said, we don’t want Alberta’s dirty oil. Well guess what? They did a poll and guess what? Sixty five percent of Quebec, hers. They want Alberta oil to understand that it’s A. Quebec is a huge recipient of equalization payments.
31:18 As a matter of fact, I think the number out of $19,000,000 that’s going to be available in 2019, they’re getting like I used to know this number, 10 billion man. It’s huge, right? So again, like all I’m saying to your listeners, Tom, educate yourself. It’s interesting what you’re saying because I’ve, I’ve sort of stepped back from following Canadian politics somewhat because I probably about 10 years ago, I dismissed it as having any impact on my life and I don’t mean that police forces and important firefighting is not important. Hospitals are not important. Like I understand sewage systems. Like I understand that the importance of government definitely. And I’m a big believer in paying my taxes for all those types of services. But I just thought beyond that, from what I see I’m getting for my vote. I dismissed it as like I think I better just take care of my own life.
32:05 You know, our whole motto of living your life on your terms. I’m like, I better just take care of myself here a little selfishly maybe. And that’s what Kinda got me thinking. I gotta figure out how money works. I have to figure out how real estate works because no one’s going to look after my family. I’m just gonna have to figure this out. If I really want to live life on my own terms, but fortunately in Ontario, um, because maybe we’re here, we haven’t faced exactly what you faced in Alberta, so this is fascinating to me because there was a situation where you are trying to do what’s right for Pierre-Paul and your family and your family’s legacy, but in front of your eyes you’re seeing something that could be better with some government changes and that must just be frustrating as hell because you could see the possibilities.
32:48 Whereas here I kind of like, we’re going through a transition. Ontario obviously we’re losing more and more manufacturing, but because of where the still the financial center, there’s a lot of high tech jobs and universities here. It’s kind of muted a little bit. The impact, it’s not that it’s good, but I mean there’s just different stuff happening that allows for that to happen without affecting the economy grow in a devastating fashion. But Alberta and Edmonton specifically there. When something like this happens in the primary industry, it can have a massive impact and I could see the frustration. Like I can, I can see how that would be something I’ve never quite considered before. Well, I mean, and my point to you, and that’s why I’m here, to say Tom, it affects you. It affects your kids. It affects everybody, every Canadian.
33:32 But do you imagine my frustration? I’m a soul called multifamily expert, right? I have an. I’ve analyzed more apartment deals than even I say that in my marketing material because it’s true. More apartment deals. Then the largest landlords in this country. All right. Differences my deals, but the approach, the analysis, the financial analysis is identical, right? But except now my neck is out, right? Instead of being sitting in a cubicle, I’m the guy and I’m a so-called expert and there’s nothing I can do Tom, to improve the health of my. I shouldn’t say nothing, but I mean as a, as a real estate investor, I don’t control a provincial economy or an entire industries such as oil and gas, so it’s highly frustrating for the guide that teaches people how to do this well, mitigate the risk is at the end of the day, my expertise is how to mitigate, how to assess and mitigate the risk factors as it pertained to buying.
34:25 But nobody’s seen this in history. Even my old office at Cmhc, none of the underwriters have seen something, a crisis like this. And here’s what’s worse. You know, I have contingency fund when I teach this stuff. You got to have money aside and all of that. Like, you know, something three months, being able to pay your mortgage, make three more months of mortgage payments, assuming 100 percent vacancy. Right? So when the shit hit the fan, I’m okay to last a year, two years, and then I’m a third year, Gee, oh, I gotta go recapitalize those assets and I got to go back to my investors. This is very painful and now I’m telling you 2019 is a write off for sure. And probably, and I’m planning accordingly. 20 20th. Well a write off. So there’s no upside in this market. At this variable. What’s the per, per, uh, provincial political climate like what is the province of Alberta doing?
35:11 Well, she, so she got a raw deal from our friend Justin talking about Rachel Notley of premier. Well because she was elected, uh, on the basis that she would do something for the environment and that she would do impose a carbon tax, which she did, but she did so with the understanding from Justin Trudeau that uh, he would, he would have the carbon tax across a. She would have a pipeline approved who’d have a pipeline approved in Alberta where guess what, that didn’t happen. So what’s Justin Trudeau saying lately about Alberta specifically? I mean the, he must’ve been working on it. So they’re working on it. This is no bullshit. If you’re asking me, I’m telling you they’re working on it. So yeah. But we got the approval for the Trans Mountain pipeline that they bought were working on it. We’re working on. In the meantime, Tom, and this is another thing, so you can go ahead.
35:59 Yeah, we’re investors. Which you think the money. Do you think investors are coming? Capital is fleeing Canada in huge amounts. So that’s what’s going on. She, she’s got to call an election before may I believe, and she’ll be out for sure. And then we’ll have probably a Jason Kenney, like a UPC, United Conservative Party, something UPC, something like that. A take over. So hopefully we’ll see some sign of ruined. But guess what’s going to happen to the Alberta Carbon tax? Same thing’s happening in Ontario. Saskatchewan going to be toast. So you think the. If they were to build this other pipeline that next to the one that exists, what’s the name of that one? Remind me. It is the Trans Mountain Trans and point out that is the one single biggest move that could affect Alberta. Huge and Canada. Again, I don’t want it to to say just Alberta, Tom, it’s Canada. It’s $80,000,000 a day of this country is losing and the biggest objection from the environmentalist is that there’s pipeline is bad for.
37:01 Well, the world is a global warming and all that. Which I, I again, I want to, I want your listeners to know I’m not disputing on the contrary. I mean I can’t see it in my lifetime. I’ve been going to Alberta for like 35 years and hiking, like I said, I go out in these mountains, carry a backpack, 40, 50 pound backpack. I’m not big like you, but uh, I can do this and that. But the point is I can, you can touch your toes. That’s a whole different. A whole new. You can do it, but you got the muscles, you’ve got the, you’ve got the chest. But I can see the glaciers melting. I can see this with my own eyes. Tom, is it cyclical? I mean, you know, I’m not a scientist, you know, is it just a cycle or whatever I don’t know about.
37:37 I, I worry, I worry about. So we have reasons to worry, but you can’t kill an economy, provincial economy and deplete a country’s wealth like that overnight. It’s not an overnight. And again, I remind everybody it’s zero point one, five percent. That’s what I was going to say, cause someone listening to this might be saying, oh, this is all very fine Pierre-Paul, but I know it’s a selfish thing because your buildings are out there so you want this to happen for you. But your point is saying, hey, the impact on the environment here the US, it’s equalization payments. Okay, so you’re saying here’s our revenue thing that affects all of us. But you’re also saying the impact on the environment isn’t as great because we have the best. Is it regulations for process to do this and the processing and for environmental regulations to protect the environment. Very stringent. And there’s a lot of technological advances as well. Again, I, I also deplore the fact that, you know, the oil industry’s doesn’t come out and tell these good, good news stories, but I’m not sure there’s a, there’s an audience for
38:36 this c again, because the debate is too one-sided. It’s them versus us. And that’s uncanny. Adrian, let’s work together. This is an amazing country. Find the whole world is so polarized. That makes me crazy even talking about you can’t talk about any subject. You say one thing and someone says you’re against it and you know, I consider myself very open-minded and sometimes I’ll take a stance one way, but I’m open-minded enough that if you present me with the information, I will evaluate and can change my opinion and this is what I’m encouraging all I’m here wanting to do and I mean what I’m saying, you know, like us from the heart. I don’t know how to be any differently. I just want to raise people’s awareness. Use Your forum right here at Rockstar to, to kind of let people be aware of this and go and do your own research.
39:21 Like I’m not here. Like I said, that I don’t position all the facts like specifically because I do have a job too. I do have things to do. But just so now that you’ve brought this all out to our attention, what are some of the things, I guess that someone in Ontario what, first of all, what should we pay attention to? I guess it’s any news on the pipeline activity. We should just kinda start observing this stuff because I’ve Kinda, again, partly because I live in Ontario and partly because I dismiss what the government can actually do for my life. I kind of don’t pay any attention to that kind of stuff. But your, now that you bring this up, I’m going to start paying attention to it. So it’s any news around the. Yeah. Any news around the pipeline? Um, and any news about the federal government activity out there?
40:02 I guess I in the province of Alberta and attention to the federal deficit to them if. Oh yeah, I love talking. Don’t, don’t even get me started. I’ll. Yes, I understand the revenue impact here, but that, that’s what I’m saying. So that, that too, because that’s tied to that. The reason that politics bothers me so much as you could just see, I could just see how everything gets labeled. Just as we said you’re, it’s so one-sided because if Trudeau comes out for this pipeline than everybody who is in an environmentalist in any way now he’s his own internal team. Will is likely advising him. St Justin, you know what, if you want to continue taking selfies as the prime, a prime minister of Canada don’t be for this pipeline because all these people are going to now not vote for you. I’m sure that’s just like the.
40:45 If I had to boil it all down, that’s what’s happening. Instead, I want to believe, but I don’t believe it’s happening that he’s evaluating this stuff and the federal government is with a real critical eye because they’re just thinking about the next election that that’s unfortunately how I kind of distill it down. I’m like, they’re just thinking about if they’re going to get voted in next and if there no appetite for this. So it’s almost like there needs to be a better marketing solution from the industry to change the narrative around this from know, I had no idea that there was an $80, million dollar a day possible impact on the revenues of Canada. If there was oil flowing faster and out of Alberta, the marketing message needs to be stronger from the industry itself. So that’s part of the problem. But this stuff, this figure, Tom, where are you getting this figured by the national news all the time?
41:31 Less, yeah, less so in the last few weeks because it was Christmas, the holidays and all that. This has been in the national media, CTV, CBC. It’s all over the place. But again, and that’s why I make a point as a civic duty to my love for this country to let people know. But the federal budget is everybody. Every Canadians business and it’s a 19 years and instead we do crazy things. I mean, you, you might not know this, I might’ve mentioned this to you. My car outside is. I have green plates on it. The only reason I got this car that it’s green plate in Ontario or maybe you don’t have this, I don’t know what that is. Let us. Ontario, Ontario is teach the burden, but the green plate means that you have a hybrid car. So my, my car, you can plug it in. It’s gasoline car.
42:17 It’s a very heavy car. It’s a heavy SUV like it takes, it probably takes more gas. I definitely is not, it should not. Let me put it this way. It should not have green plates on it, you know, it’s a big heavy SUV but because it’s a hybrid I get to have the green plates and what the green plates allows me to do as a um, I get to drive on the Hov lanes here, the high occupancy vehicle lanes on the highway with only one person in the car. So because I have the green plates, even though I don’t have multiple people in the car, I can drive on the, on the Hov Lane. That’s the only reason I got this particular SUV. It’s interesting. But on top of that, the provincial government gave me a check back for $7,000. Can you believe that it’s a three year lease?
42:55 I didn’t even buy this car. It’s a three year. I know. Laughable, laughable. I was going, by the way, I was going to get this with a $7,000 rebate or without it. I mean, that’s gone. Now that Ford is in the premiere here, that’s all kind of gone. This was the pastoral liberal liberal government that has this policy. But, uh, when I discovered that I was getting the $7,000 check, I thought, oh my God, it’s the first time in my life that government’s giving me something back that I really don’t think I, I should be getting. But I will, you know what? I will take my $7,000 check for this car. So it reminds me in Alberta. So we have the carbon tax. Nick [inaudible] just joined us. Uh, but uh, we have the carbon tax and it was just telling Tom earlier, Nick that uh, we’ve had to for two years and Alberta and uh, so I, I have to pay it, but I don’t have any means because Albert, I ran out of money to, to, uh, to provide grants for energy efficient programs.
43:45 But my kid who is a student who doesn’t pay income taxes because he doesn’t earn enough, right? He gets a fricken check to see what’s wrong with this picture. Like somebody slapped me on the head. I’m like, what’s wrong with this picture? Yeah, got it. I mean, they’re just, they just looked for anything they can tax tax. Like they just look for whatever revenue they try to find a purpose and it’s revenue. They can tell. I mean marijuana is the same thing. I don’t know whether they legalize it or not. Sure. You want to legalize, legalize it, but just come out and say like the Ontario government, I guess it was minute, it was federal. I thought it was an Ontario government commercial about why they’re legalizing it. And the first thing was like, so they could make sure they get good quality product and I’m like, they’re talking about the quality of marijuana and I got to be honest with you, you can get pretty good quality marijuana from whatever biker gangs or whatever you’re buying it from before.
44:37 I look, a lot of my friends a lot of marijuana, but that’s what they are. They want to make sure that it’s good quality product. They just come out and say, hey look, we need a little more money from you. If you’re using marijuana, we’re going to tax you for it. How is it being sold in Alberta? We have an online store here in Ontario. We have stools online, so we have. They’re going to start selecting them I think in Ontario right now, April the open, something like that. But before we go any further, let’s look at this. So I promised Tom I wouldn’t be overly partisan and I wouldn’t put down Justin Trudeau. I think it’s too late for that. But good. Yeah, your guy. But he. Here’s the thing. We have a national crisis, which is one of the reasons is, you know, I wanted to talk about oil and just raise people’s awareness.
45:23 Like I said, I’m not pretending to have all the facts straight and all that, but I just overall I do have and yet what we promoted as something like as stupid as and selling pot and cannon when we have a lot more significant issues. This pipeline and this oil crisis is an issue impacting all Canadian, but again, it goes to show the kind of priorities that our government has completely misplaced in my opinion, but you know, just a fricking legalizing and just jam and they just jammed it down everyone’s throat and then told the provinces, hey, by the way, we did it in June. Go figure it out by September. Make it legal. Or I’ll tell him I’ll go be partisan because I follow politics since they came power. Justin Trudeau, remember what happened. First it was the electoral reform completely toasted. Then remember there was the tax reform that we all were all up and down.
46:07 I’m telling you, and now this energy environmental policy, that’s also pretty much a failure with the province is gonna. He’s gonna. He’s gonna win again. Well, I gathered the pcs have been split, right? The PCM didn’t maximum Bernay whatever. You go off and boss. I don’t know. I don’t track anything in politics as much as I even showed it. Nick, I was explaining. I don’t talk politics because I don’t associate them and having any benefit in my life, but hearing Pierre-Paul’s story is really kind of make $80,000 a day. Someone once told me that basically in Canada, it doesn’t matter what business you’re in, whether it’s multi-unit apartment buildings, whether you’re a real estate brokerage, helping investors are working with investors or whether you’re in a construction business or contract or whatever you’re in. We are all just tax collectors for the government.
46:50 We all just do it in different ways. And when he said that, I thought, you know what going makes a lot of sense. All we do, we don’t pay our payroll taxes here in one day. The governments calling, you know, I’m not saying we pay our payroll tax, I just want to go a couple of times. A couple of times it’s been, we were like, Oh man, we forgot to sign the check on Friday. It goes out and the government really want. So it’s like years and years of history of being on time and then like one month it’s gets in, you know, one or two days late, not even a week. Less than a week. Governments, yeah, there’s pens and then right away we get sent with penalties and interest on it. For years we’ve been paying every single month on time because we’re self employed. You know when you’re self employed, you do your taxes.
47:28 Typically at the end of the year you kind of figured out how much you have to pay and then I guess after, after you, after you have a history of doing that, the government will call you and say, well you’re not. You should pay in installments because we’re anticipating that you’re gonna be making this much. And I always talk to them on the phone. I love these phone calls by the way, because I always talk to them on the way. I’m like, okay, you’re going to government, right? I said, how can you guarantee me that I’m going to be making the same amount of money this year as I did last year? Shouldn’t I go out and actually accomplish what I’m trying to make first and then I’ll pay my tax. Isn’t that the agreement that we have in this country, but you’re trying to tell me that you just have so much faith in me as a good person and as a good worker that I should pay my taxes even in advance of me making the money.
48:07 Because sometimes as a self employed person you might not make your money until maybe the end of the year, right? Depending on what kind of year you’re having, but the government say, no, pay your installments, and they’re like, well, if you don’t pay your installments, you’re going to get. I think it’s a penalty. I’m like, well, how much is this penalty? And they’re like, well, it be. I think I forget. It was like 160 bucks or something and I’m like, I think I’ll risk that. Went under and then I asked the guy on the phone, I’m like, wouldn’t you do the same thing? And he agreed with me. He was like, you know what, if I was in your position, I’d probably do the same thing. I go, okay, good. So we’re just gonna leave it at that. I’m not paying my credit it. Oh yeah, yeah, yeah, exactly. Exactly. But uh, but it’s funny. Go home back to the tax issue. That’s the idea.
48:41 The uh, the federal carbon tax as well, or no, take the Alberta Carbon tax. Really they’re saying it’s an enticement for people to pollute less like useless, you know, the vehicle less and less. But at the end of the day we just proved that it’s not solving the problem. It’s another form of attacks. It’s just, again, it’s the hypocrisy here that I do now.
49:00 I agree. Yeah, I agree with that point completely because it’s not like there’s multiple studies have proven that is not a like a. something that will, will, will, will cause people to change their behavior, you know, so it’s a tax call it attacks, you know, just call it what it is and explained to her that, you know, so that’s, I think that’s what I get frustrated with too. Like you know, we can read between the lines and see what it is and it’s just crazy when you think about it now, how much tax, you know, because when you see it, like I, I guess, you know, I got more insight into it as our business grew a little bit so our payroll tax on a little bit higher. So once we, once I see what we were made in payroll and then we have a monthly payment for the business that we, that we have to pay like our, our, uh, our.
49:43 And then we have personal tax and then if we go to the store, there’s the sales side, there’s the guy, there’s LCBO to the liquor store already have tax on them. And I’m like every dollar you earn, how much of it is actually yours, Chris? And I know the number, the date that they say is what is somewhere in June, they say tax free day because it. But it basically, it’s more than half the money you earned. It goes to tax. I think it might even be more when you. I think that was calculated on income tax and not taking into consideration. It’s completely. It is already. And I think what frustrates me. So I used to. I used to work in a government organization as well. I used to work for an organization. Oh my gosh. I used to work for the government as well, Pearson. But when I saw the way
50:28 things operated and the amount of inefficiencies and waste, it blew my mind. I was like, well, no wonder they always need more money because it’s just like it’s the most inefficient way to do anything and look at what’s going on in France, right? Oh yeah. That’s what it is. I think in France, excessive socialism and over-taxation and all of that, people are. I just saw a headline that macron came out and said that they’re going to ban the protests. I just to know that I’m sure that’s going to go over really well in the country where civil liberties and the declaration of anyway. Okay. Are we covering everything that you want? Was there just like I said, just the simple message. I used to be an easterner. I went to school in Ontario or Quebec originally. Just trying to just make people raise their awareness that this is a national crisis.
51:17 Right. And let’s start to be less polarized and black and white, you know, the oil and gas industry is not, is not that nasty. It, it provides a good living for a lot of Canadians and it generates income for the rest of Canada through equalization payments. And again, check out like, you know, a lot of these demonstrators environmentalist are funded by oil. You have oil. I’ll be better read up the next time you’re here so that when we talk about those we’ll have a different discussion. Yeah, we got a bit of a delay but it’s still happening this year, but we’re. Yeah, it’s real estate, you know, see if you can touch your toe and that might take, you know, you guys talked so loud, I could hear you. My office through the was always listened to your conversation. Listen, over the last little while. I know, you know, we first met, I think through your multiunit investing stuff.
52:07 You’re going to probably do another workshop in 2019, so. Okay. What are the two lined up one? Oh, you’re putting me on the spot. May 10th to the twelfth. It’s two and a half day. A workshop. That one is in Whitson Edmonton and then Hamilton. I think it’s, you have a calendar here. I think it’s May 24th. Is that a Friday? May Twenty fourth to the 26th avenue. What’s most important is that’s my birthday. So we’re not a two. Four is an expert on Friday the 24th to 26 in Hamilton. You have them on your website, maybe two. What’s your wealth and family investing Canada.ca mic. Multifamily investing Canada.com. And I’m happy to tell you I’m speaking in Vancouver on Monday night to actually, uh, I’m working on developing one in Vancouver. So awesome. Good for you. And there’s an online version as well. But, uh, I’ve got, uh, you know, you guys know what’s the, the last two years I’ve revamped my content to students two years in a row, our rating at nine out of 10, 10 being the best.
53:03 I’m pretty proud of that. So I know how thorough you are with your stuff. I know how passionate and how much you love your stuff. So, uh, and here’s the cool thing, Tom. So tomorrow morning I’m actually shooting a video interview of a graduate student of mine from last year who bought his first multifamily properties. And so the way I teach is experiential. So we, we do case studies. We go and inspect an, uh, an actual apartment building company by a professional, a inspector. So it’s very hands on. And what I’m trying to promote now is if you come to the live event, I have a package deal whereby you get both the to come to the live event and a half days. So it’s a, as you said, it’s a lot of content and you also get the course online. What happens. This is what I’ve discovered last fall when I had my workshops by people also having the content online.
53:45 I tell them right up front, be more relaxed. You got. They also get a workbook with all the printed slides and they can take notes beside it. But because I like to teach through real stores, like the stuff we’re talking about, like I was talking about, my income is down, my expenses are up or you know, financing strategies and all that. So I try to buy by giving them the assurance they have the course online, lifetime access with all the future upgrades and having a binder relax, be present in the moment, you know, in this experience, Joel, a format, a teaching format. So it’s very, very cool. We’ll link out on the page for this episode to your website as well. You’re a passionate guy. You know what? I need to come hiking with you on a glacier. Oh Man. That would be a different story, but I can show you because you need skills, right?
54:26 You need avalanche skills under me, but come hiking. This is true to my brother in law is going for his 50th birthday later this month to Antartica. Wow. 10 Day trip. I think he’s crazy, but he’s got a warmer place. Yeah, yeah, yeah. But we got to do it at some point. I, I, I, I, Hey, I’ll, I’ll, I’ll, I’m dead serious. You come out. I’ll organize it and I cook a pretty good, decent meals up in a higher altitude. Maybe you can teach me. It’s taken me years to perfect your drink. Good wine a day. You can’t drink hiking like talking overnight. Hiking because hiking, you’re carrying a 40 5:50 pound backpack if you. So if you drink wine, I’m not sure what the end result’s below, below, below the mountain. When we celebrate, we celebrate with good. Let’s do it when I can touch my tickets a day hike, you know, it doesn’t have to be like a, you know, but even day hikes but staying overnight does create some magical catching. So cutthroat trout. Oh, behind Lake Louise and you just have it for breakfast. I am telling you, this is my territory. Pierre-Paul. Thank you. I appreciate it. Thank you for having me. You guys. Awesome.
55:30 Everyone. It’s Tom Karadza. Hopefully you enjoyed that episode. As you can tell, Pierre-Paul is a super passionate dude. I’m so. We’re grateful that he stopped by so that we can record that. If you are listening to this and you want some Ontario specific real estate information, you can go to rockstar inner circle.com. Not only the website, but you can also go to our Instagram feed which all of a sudden seems to be getting a lot of traction. And that is at rockstar inner circle. So big surprise. That’s the name of the Instagram feed @Rockstarinnercircle. That’s the handle for the Instagram feed. Sorry, rockstarinnercircle. You can check us out there. Um, and also on the website rockstarinnercircle.com, you can get free access to all the digital copies of our books by going to Rockstarinnercircle.com/books. You’ll see three different books.
56:13 They’re the most popular one over the last decade now has been income for life for Canadians. You can get a free digital copy there. I can’t tell you how many rock star members have started specifically that book. One Room, a member who now works with us. I’ll never forget, he told me that he downloaded that book, saved it to the desk, top of his computer for a year before he finally got around to reading it than read the book, came in, bought a bunch of properties, and now we work together. So get a copy of that book, um, income for life for Canadians. You can actually buy it on Amazon, but you get a free digital copy off our website, rockstarinnercircle.com. Hopefully you’re enjoying the show. Listen to reason that we’re bringing on people like Pierre-Paul to share their views as we want to learn as much as possible, so if someone is going through different challenges like he may be in Alberta, we want to know about that stuff because it helps us with our real estate investing in an Ontario, getting different perspectives from different people all over the country. Remember, you can live life on your terms. We want to gather information about money, about investing, about real estate, about health, and about fitness. All for it. I guess the selfish benefits of living life on our own terms. We hope in some small way this podcast is helping you do that. Thank you for all the feedback so far. If you have any topics that you want us to discuss, any feedback, you can always send it to email@example.com and we’ll get through to us until next time. Your life, your terms.