Hey everyone is Tom Karadza and on this episode of the podcast, we have a great story for you. This is a love story between Cherry Chan and Erwin Szeto. They are both real estate investors Cherry is an accountant if you don’t know that they are married to each other. And they’re just like this awesome power team of real estate. Super, super nervous. Can’t believe you said that. Anyway, super nice. And on this episode of the podcast, they share their story. They share their story about real estate. We talked about some accounting stuff naturally, Irwin shares about some of the stuff that he has coming up this fall some big news around speaker that he’s bringing in Grant Cardone, if you don’t know Grant Cardone, he is one of the big personalities in real estate in the US, or when is bringing up bringing him up here to Canada. If you don’t know Irwin, Irwin has been part of the rock star team. Since I think he says on the podcast since 2010. He is a great guy also runs his own podcast. Someone told me earlier a few weeks ago that I call everyone who comes on the podcast a good guy. So I’ll say Irwin is a good guy. He’s, he’s worth listening to the show, I really like sharing their story around their family how Irwin and cherry both manage some of their family time and their kids. So we cover a lot of bases on this podcast, so hopefully enjoy it. And we cover a lot of bases and something that we just put together for you. It’s it’s a revenue report that we are just releasing, called Ontario’s population explosion, The Untold Story, how Ontario’s population trends are creating amazing opportunities for savvy real estate investors like you. So if you want to get your hands on some of the data that we are constantly referencing about population growth, you can go to rock star inner circle.com, forward slash reports. And you can get this brand new report from us in there, we’ve collected some of the stats Canada data that we reference some of the data from the Government of Ontario that we reference, some other news articles that we reference, we put a bunch of the charts in here. And we’ve also taken some some of the go train stuff that we have shared over the last year specifically on the go train expansion and some of their own projections. Because that’s a little bit of a treasure map for real estate investors when you marry the population growth in this area to the go train expansion. It’s almost like our roadmap and our treasure map on where to be buying properties. So that’s all covered in this report, you can go to Rockstar inner circle.com forward slash reports to get that. And on that page. We also have three other reports for you, we have the destruction of the middle class report. If you haven’t got that one yet, we have a report called does paying for your kids education really makes sense. And I just really want to be clear about something. We are not at education. We are big believers in education, Nick and I are still educating ourselves and paying for education constantly. We’re just measuring the cost of a degree against the cost of an income property if both purchased roughly at the same time. And that’s was just a thought experiment we put into this so it might be worth checking out. And we have a blueprint, we call it a roadmap to $235,000 of yearly income by investing in local real estate that is the blueprint of a real estate investor that we’ve worked with over the years and how he’s created that much income for himself with properties. So you can get all those reports at Rockstar inner circle. com. That’s it for now. Let’s get on with the podcast. Are you ready
to live life on your terms? Is it time did take charge, real estate, business building the economy, health and nutrition and more. It’s the your life your terms show with Tom and Nick. Are you ready? Let’s go.
Okay, alright guys, we are here with the you guys are pretty much like a famous I feel like this a famous couple. No,
no, no. Okay, I think you are nobody knows how to win Zito
and cherry Chan. And it’s a great dynamic duo. Because Erwin, I’ve heard through the grapevine that Irwin buys properties and doesn’t tell his wife that his wife’s an accountant. So I don’t know, that probably shocks you. But then you can do like accounting magic to just fit these properties into your portfolio and make them all work. So you guys are a magical combo that way.
Yeah, I don’t think what did I call you in the other? podcast? I call you? Can I say that?
You can say whatever you want.
Oh, I call him an asshole. Oh, really?
Oh, my podcast. He calls me
Yes. Oh, yeah.
Why do you call him an asshole.
Because one of these things that he is doing it for the first time. And he also did not see the property himself, he put an offer into the property that he’s never seen. And we’ve never seen it. Just to give you the context, the previous one that he intended to put an offer in, and I asked him just a few basic questions, right? Like, Hey, did you do a calm and calm came back and showing like maybe 450 and we’re buying a new sitcom to be like our comm go if you’re comparing?
Okay, got it,
you would have thought that Mr. Hamilton will do some comparative himself, right? Like do do columns himself. And obviously he didn’t do it.
ISIS and did it.
So so then he went back to his office and say, Hey, Megan, can you do it? Megan, his assistant did it. And then came back and say, Hey, like the calm as showing like 400 or something. But then one of his team members that that is worth 500. And I’m like, why is it worth 500? Because he came into Tell me Hey, like this deal is really 500. And we’re buying it at 350. But the column is showing 400. Unlike what’s going on, too skinny? Yeah. And then I’m like, what’s going on? Why is your agent saying 500? Did you not look at it yourself? He obviously did not look at it himself. So when he told me he came back and found the second deal, he’s like, yeah, I’m putting an offer. And I’m like, What the hell? Like? Did you look at columns? And this time? He’s a bit more prepared?
Not sure. I didn’t expect you to just go all in on this comment. Yeah, keep going. This is good. What the hell are you doing? Keep going Sorry, sorry.
One of the best deal that we’ve landed on, but is just that because of the way that he approached the first one potential. First one, we didn’t end up buying the first one, that it triggered me calling him an asshole. But
that’s when you know, you’re getting too comfortable with real estate when Irwin is like yeah, this is a good deal. And you’re going to get it for 350. You think it’s worth 500? And you’re really not putting that much more effort into it. Other than that, and you have to have your wife cherry call you out and say, Hey, is it really? Is it really worth the 500,000? Well, so what did you buy? Like, what is this one that you bought?
So when we actually when we actually made an offer on so in my really poor negotiation communication with my wife, hence, I earned the term asshole. I told her a great deal. Like Don’t worry, we work. She’s like, Oh, you haven’t seen it? Right? Like No, I haven’t seen it. Get a conditional inspection.
Home Inspection. No,
no, no. First there was, but then the seller, the seller, structure get out. And and then I ok. So I still haven’t seen it. Last, our inspection condition, no inspection.
Where is this property?
200 meters from your master University. Okay, so as a student rental, I know is home owner occupied at the time. Okay, got it. You’re
buying it to convert it into a student rental? Yeah,
that’s our plan. Okay. This is one we were just talking about before we went live on this podcast. Yeah. Okay. Got it. Yeah. So you bought this thing? Good deal, and you’re going to turn it into a student rental? You didn’t do a home inspection?
We did after we have the deal accepted. Okay. Just because I know my insurance companies going to need it. They’re going to want it and also I wanted to checklist for and also it was robbed chain. who also does measurements for asked him to look at it in case I could do a second sweet. I didn’t think I could going in. But still I wanted and I wanted his eyes on that property. But we did. We did inspect a few days after we had a firm offer on the property. Did you like what
you found? Everything came back? Okay.
Uh, it was acceptable.
Everything was okay. And can you turn into a second sweet out there?
No, I don’t have the parking for I knew that going in. Okay, but the
area was zoned for it just didn’t have the parking for it.
You likely Yes. Yeah, I knew without the new I wouldn’t get it without the parking and I didn’t have the parking.
Okay, why are you buying property so casual, you’re just comfortable with like, because to me, I can see myself the reason I can relate cherry because I can see myself doing the same thing. People ask us all the time. Hey, Tom, Nick, where do we buy properties. And at this point, it feels like I could close my eyes. And it just tells me I’m in Ontario, I could probably figure out what city I’m in. I touch a property. And I can figure out with you know, how many bedrooms does it have? What income it’s going to generate? And it’s the price point is right. It just makes sense just by the thing that is being very casual. I’m not recommending anybody buy properties with that particular strategy, but I can see your how Irwin and you would get to that point when you understand the market really intimately.
Right? Well, we understand it really well. Like we understand the location as well actually at the time when he told me about the deal. I he never mentioned location. He just said is in Hamilton. Oh my great where about in Hamilton never told me until probably 10 days before or maybe after closing or something. So like all my life, when I call him names is all justified.
decision was easy. My head is need to explain what was in my head. The cherry.
You got it. So so he explains it you go ahead with this thing. You’ve closed on this property now
going through renovations, some expect the unexpected stuff, but
handles that between you two because cheer you’re running your accounting practice. And Irwin. So I imagine, Erwin, this is something you run in the you just keep cherry up to date,
we’ve kind of divided our portfolio and conquered that way. Okay. So I’m dealing with more the more active stuff right now. So I’m the one that’s checking you on it once in a while dealing with contractors, getting insurance chair deals with the lending on that sort of stuff, because I basically have an in house CFO, which is very handy, highly recommend it to anybody.
We I deal with all this and Catherine’s one because when I first started, I handle all this in gatherings, Lee’s, I handle all this in Catherine’s team. And so I still handle that part. And he became Mr. Hamilton himself. So he handles everything that’s in Hamilton.
Got it. And then from bookkeeping point of view, I’m curious because my bookkeeping strategy has always been, I come home with receipts from different properties. And then I still to this day, we don’t quite do it like this. But for many years, we just had Manila envelopes, written with the property address on it. And if I came home with a receipt from that particular property, I would stick it in that manila envelope. And then really, sometimes it would just live there and almost until the end of the year, then I would take all the receipts out, I would put them into my own spreadsheet, then I would transfer that information over to the t 776. What is it?
Yes, p 776.
To 776, which is the income tax form basically to record all the incoming expenses on time for personal returns on rental properties. So I take it all off my spreadsheet, and then pass it over to the accountant that we use, he would put it in there and I was kind of done with it. Yeah, that little strategy works really, really well. So what do you guys do it for many years, we do things a little differently now because you know, we have businesses and we have more bookkeeping programs and that kind of stuff. But what do you guys do for receipts and bookkeeping?
I would say we’re pretty similar. Okay. But in terms of the way you structure things, but our envelope is not a physical copy of the envelope, we use apps. So we take a picture,
okay, and you can use apps, because every time I start using apps for this kind of stuff, I lose my stuff in the digital world. I need to print it out and hand it to a place that you guys don’t need to do that you can actually survive with using apps to collect all your receipts.
I use apps, I think are one is working on it. He’s currently saving everything in his envelope, and then handing it to my team.
Got it. Okay. I still love that strategy. So what apps do you so what do you recommend?
I can’t say I necessarily like him. I
do like so
right now I’m using an app called hub dunk? What is
it hot dog, how it’s just cut down, hub, dock, dock, dock.
dock, okay. And what it allows me to do is essentially take a picture of the receipt. And if you set up properly, in the back end, it can be synced directly to your QuickBooks Online account, and they publish it for you. That scares the shit out of me.
Just really scares me, man. But I got it. Okay, but then also to have multiple businesses, then you send the receipt to the wrong business, because what are you sending it to like an email address that specifically set up know is an app? So the app once you Sorry, once you set up the app, it’s tied directly to a quickbooks online application, which is for an existing business? Yes, you choose the wrong business? Yes, it’s going to the wrong place.
Yes, it can be the same way. Same way as you do your envelope system, right. But it’s just a electronic version of your Yeah, Philip system.
Okay. But in that app, it’s actually taking the receipt and you could you give the general ledger account, like how do you classify it.
So depending on how you sort through, you can tag it by property. So I can tag it by ABC property. And then when we set it up, he certain part can be automated, certain part cannot be automated. So the part that we can classify it by property saying, ABC, this tag is belongs to ABC property, we can book it directly in QuickBooks Online.
That actually sounds better than I thought.
Yeah. So but then it is not as simple and it’s set up as a process. And it’s a process that we’ve been working on for a couple of years now.
Okay, God, and that’s what you’re recommending some of the investors you work with,
not necessarily hub Doc, because hub doc is being purchased by some Australian company. And so there are other apps that are available out there and QuickBooks Online, who’s also the head of product. He’s also a rock star member, Scott Zenden. He is he is the head of QuickBooks Online. And he’s when he’s
the head of QuickBooks on
I think he’s the head of product of QuickBooks Really? Well, at least the last time I checked, okay. Yeah. So then he said that in the future, the development of QuickBooks would be would have certain capability, we don’t need an external app on top of QuickBooks Online to do certain function. I’m looking forward to that.
You know, that would be freaking amazing. Okay. Oh, yeah. Because right now, I still walk in with receipts for properties or different businesses. And then I have a little different deposit points where I put specific receipts for a specific business or for a property. And then the bookkeeper who manages that knows that if they reach into that area, and pull it receipts, it’s from me for this business or this, this property. I’m still a little old school that way. But this sounds pretty good.
It’s the same, essentially, same as you, you’re, this is just true. Like it,
I get it. I know, I sound like a million years old, right? No, no, no, no, no. I just like the way that we’re doing now. Okay. And then, when you’re doing your bookkeeping with Sorry, I didn’t mean to get into it. Or when I coming back to bookkeeping questions. Now, I’m used to this now. I’m curious. Now I’m here. Because we usually meet with our accountant, about a month before fiscal year end, just to look over our income statements, look over the properties, kind of almost like a strategy session. Yeah, we usually have those actually, about twice a year, is that something you recommend for people or if you have like one property, there’s no need, you know, just file your taxes, collect your income and expenses, and you’re good to go.
So depending on your bit, your type, the type of businesses that you’re in, right, like properties, they’re pretty straightforward. So we usually recommend our clients to talk to us during the year and definitely before you end, otherwise, we wouldn’t be able to do any planning, because planning is done ahead of time, not afterwards. So we recommend them to talk to us every time they make a major decision. They if they want to sell a property, they want to get a better understanding, we want them to talk to us, and we can let you know roughly how much it’s going to cost you to sell this property. I mean, the cost in terms of salary is caused. And then we can maybe recommend, hey, like maybe you shouldn’t sell, maybe you should refinance. So we look at different options with our clients. Okay, so you have that kind of strategy session as well. Yeah.
Okay. And then, so when you guys are working together with all this stuff, because you have your accounting practice that’s growing, or when you’re doing a whole ton of real estate stuff, and we’re going to talk about Grant Cardone, in a second what you’re doing in November. But how are you guys managing stuff on the family front? Like who’s responsible when like, when everyone wants to go to the gym? Who has the kids at that moment? Or an ad? So you hire a nanny who lives in the house? We’re live in any live in any? And how long have you had to live in any for five years?
and that’s a strategy that you would recommend everyone who I know who has a living and never go without a live in nanny. So that’s something that you love.
That’s just one of the MVP of our household. Yeah, got
it. Okay. Okay. And so that’s giving you guys a lot of different freedom because the living nanny does. Picking up the kids from school, that kind of stuff dropping off the kids to school, picking up from school meals, meals, meals, who’s taking up the garbage, man? Yeah, okay. I remember I had a neighbor, and his nannies take out the garbage. And he looked at me one day, and he said, Tom, just for that alone, I actually hate taking out the garbage. I just hate it. But it has to be done. So just that alone, he told me like Tom, just that alone is amazing. I was like holy smokes. So that you’re very I’m sure you’re very grateful and feel fortunate that you can totally afford to do that. Not everybody can do that.
I have an argument to that. Like people always tell us Oh, I can’t afford to have a nanny. But the truth is like, like our kids are five. The fourth one is turning four. She’s he’s sold three right now, for to put someone into the daycare, it costs about $1,200 full time to put him in daycare. It doesn’t include meal prep doesn’t include anything. If you multiply that by two, that’s the cause of the nanny, except the nanny. Also called clean, clean. Got it and pick up the kit.
Okay, so you justified it. That’s totally worth it.
My favorite thing is, I come five 530 at the end of the day, whenever any of our work day we cut ourselves off. And then we can spend time with the kids. We can go play outside and you’re right, some basement hopping a hot tub. Our name is cooking dinner.
So you really cut yourselves off. So like at five or 530 you’re not checking email. You’re not checking your phone, not for me. straight. Yeah, I’m far from perfect, because I know I think Nick just walked in, by the way, Nick, can you hear me? I can hear you. It’s amazing. Because Nick is here now. Jerry just Jerry shook her head like I know it can fat ugly. I know. You know why? I think maybe five years ago, it was much easier to cut yourself off. phones have gotten so good. That it’s hard because if you’re reading something with the Raptors or the leaves on your phone, and a text message comes in, it’s really hard to ignore that if that’s something to do with a real estate problem or something. Right. But you guys do intentionally try to cut yourselves off at that time.
Yeah, I’ll try leave my phone somewhere else
smarter than my pocket. Where do you leave it?
Just like a bookshelf or something? Yeah, it’s hard. Because I want my camera with me.
When the rafters were in the finals. How were you reading all the articles and watching the pregame videos? Then if you didn’t have your phone on you? That’s what I want. Oh, I had that.
Yeah, the whole Raptors thing was just destroyed or
I think I checked that CSN up for new articles and videos like 14 times a day. It was kind of sad. But
don’t you find your reading more of that stuff on your phone than you ever have? Yeah, I totally AM.
The Raptors going back on Twitter. I was like not using Twitter for ages. Now. I’m back on Twitter just to read articles from the media folks. I like got it. Okay, what Understand?
Because you both have busy lives, right with everything going on. So at five 530 you try to cut off. You try to put your phone away as possible and a bookshelf or something like that. Sometimes it happens. Sometimes it doesn’t, whatever. But that’s the intention. What other things do you get? Or do you have any other things that you guys try to implement in your life just to manage all this stuff?
I try not to do too much with my phone until until these one kids on the bus. And so that’s around 830 ish. And it all starts working around 830 Okay, so you do try not to pick up your phone before like 830 in the morning. Do nothing serious with it. Don’t start working. Don’t read him. Absolutely don’t read email.
What time you’re getting up in the morning.
I usually get when the kids get me up. So what time you go to bed. I’m trying to be better with the Raptors being over McBean much better. Nine or 10
nine or 10 Oh my God,
I need more sleep than you do.
No, no, no, I want to go to bed at nine or 10 This is a running joke in my family. That’s my family knows I want to go to bed at nine or 10 o’clock at night. I never do so I can spend time with them when you get
up when they get me up so it’s usually around seven.
Yeah, that’s a good amount of sleep. And that’s
Dude, you’re no sleep.
No, no, no, that’s a good amount.
I’m bad I can’t recover from
your cortisol level
stuff. Like you know I got lately I feel way better though. Before before I started taking those tests. You said like nap all the time before the minute to my cortisol test my food sensitivities. So what do
you think it is now?
That’d be good to me to actually get the test. I only tested it once. But I don’t I don’t need those afternoon naps anymore. like I did when I
know. You’re sleeping for nine or 10 hours a night? Who
the hell is this one? The best things ever done? Yeah.
I agree with that. I think it’s a good amount of sleep. I wish I had that much Luca
and I go 740 you’re you’re 45 going on 60 your
whatever. He doesn’t even know my age.
Older than 45.
But but that’s a good amount of sleep. He’s saying 10 to seven. I doubt you’re going to bed nine all the time. No,
I start winding down. I tried. I try to stop working like last time I spoke last night as podcast until almost 930 for example. So that has been wired after that. But what it might be problem was though, was that I was finding as I was irritable, especially when the kids went to bed. I was way too irritable. And that was trying to figure out how to control that in more sleep help that
the biggest thing what time do your kids go to bed,
though? We try to get them around 780 my
gosh, you are so screwed in the future. I’m so looking forward to this because your kids are not going to go to bed at seven or 730 you know, as they age nanny or no nanny, they’re going to go to bed at 10 1030 Now sometimes Aiden’s not coming home. We’re not wrapping up. We’re not in the house until after 10 for my soccer practice. So yeah, enjoy that sleep now or when it’s coming back. And then cherry what kind of hours do you keep similar or slightly different? Tell me if I shouldn’t be asking this. kind of curious. Oh,
no, no, no, I usually go to bed at nine. You do? But then I get up earlier than r1 way earlier. What time is that? The kids do not bother or one kids come in and say mommy I want this I mommy I want that. But my kids are pretty good. in the morning. We’re so spoiled to be honest. I don’t even know if we should share this. They would get up a Sykes and they play in their room. Please share one room right now. And they would play in their room until 730. And then come get us after
Yeah, wow, you’re totally spoiled. that’s already happening. Yeah.
Okay, good for you guys will try and make it their own breakfast soon enough.
Know the sleep time and why what time? Are you going to bed right now?
I’d go to bed. I know. I’m usually in bed by 1030 1015 1030 sometimes it’s like 1111 too late.
So you’re falling asleep by 1045? Most No.
No, like I’m asleep by I’m asleep by like 1030 let’s say Yeah.
And then up almost
Cuz hitting the gym for six. Yep.
Sometimes I sleep in till 545.
Yeah, my house isn’t winding down. I’m not in bed until 1130. Like, falling asleep at 1130. Yeah, I like I mean bed earlier. But I mean out by 1130.
If I get seven hours, I’m like, saw I like that’s good. Like I’ve been I probably need more. I’m not saying when I just when I feel okay. nine hours is like, I mean, maybe once a year I do. Maybe when I’m sick. I just don’t I like even on Sundays. If I stay up late on Saturday, I’ll just I won’t even be able to sleep that long on a Sunday, just because of the routine of it.
What about your yearly schedules between you two? Do you have like vacations that you absolutely want to take every year? Like? Do you take a Christmas vacation around December? Or do you take like a spring vacation? Do you do that kind of planning with your family? Or is it a little bit haphazard? And random?
totally random, totally random only trip that I make plans of is my my visit to my family. Got a call once a year,
once a year? When do you take that one?
Usually in November,
December? And how many weeks of vacation? Do you guys ideally want to take a year?
I want to 64264 to
six? It doesn’t sound like you guys care about vacation very much.
You guys. Urban gives range everything? Yeah,
there’s no answer when
our lives were quite blessed. Our lives are quite good. So how
hard on a scale of one to 10? How hard Do you think you’re working? A week right now? Jerry’s working harder than you? I already know for sure. Working with charity works longer than that. Yeah, no, I already know this answer. But for you how on a scale of one to 10 that not that anything’s right or wrong? I’m just curious. What do you what would you think your capacity is? 10 is the most you could be possibly working? One is the least Where are you?
So the thing is with my trading schedule with golf jujitsu, CrossFit, I am at my limits. I’d have to give up a lot of that stuff. But I enjoy all those things in order to be able to do more work.
You’re right, Nick. Irwin, doesn’t he doesn’t
understand. Is it because he sees things at a 10? Yeah, for all the things you’re saying. But now remove the golf, the CrossFit and what was the other thing jujitsu? Yeah. And then where are you at? On a scale of 110? Probably six.
Yeah. I was thinking sad. Seven my head. Yeah. Okay. I can do way more work. But it’s Oh, no, but the nice to enjoy life all about living life.
We know that’s completely great. I’m saying not to work. We’re saying you got to answer the question.
Okay, got it. And cherry, you’re at nine out of 10. So I don’t even have to ask you. I feel like you’re
No, I think I’m 11 out of 10
you’re growing a
business that’s nice is your husband’s there to help you come back down to a 10.
It’s the other way around, right. Like when you’re an accountant, you don’t have a choice like it’s on you like his business, all the financial decision, and everything is on you. Because you are in the accountant. There was there was no other choice. Yeah,
but you guys are growing, you’re also growing the business, you’re growing the team, you’re building momentum in your business. Whereas I feel like Irwin’s a little bit more established with what he has going on.
He’s also a lot better at delegating than I am.
Yeah, my team is older. So they were my team’s much more mature. So are we ever problems? But oh my gosh, everyone,
for sure. We all everyone’s got their problems. So everyone, how do you handle the delegation when someone on your team isn’t doing something the way you would do it? What do you how do you handle that?
It’s funny, because
one thing I’ve done is actually everyone on my team is now coached by my coach as well. So then that way, I have some oversight. That way, they they they’re learning the same way I learned in with the newer folks and pairing them up. So they spend a lot more time shadowing the rest of my team are our senior team members. And I have a weekly call with, with my two newer agents to go over things, but in so twice a week, they’re being coached one by me one by my coach. So that’s how we keep tabs on things. We could have been doing a better job, obviously. But this is a pretty good path. And also I have like as your coach rats them
out to you.
Oh really can expect that they’re doing well. They’re doing what they’re doing. They’re doing kind of acts as expected. Yeah, but you know, there’s learning curve, you know, everyone needs to communicate better. Everyone needs to work on the sales skills, just like everything that everyone can approve, I can always improve. I know that too.
Okay. look pretty good system. I don’t know if Nick and I could ever do that. Maybe we’re too much micro managers.
And things like one of the things is just like every entrepreneur, every business owner and manager you kind of have to accept that folks will not do what you do.
Yeah, I’ve accepted that it’s it’s the the
the coaches haven’t
been temporary solutions. Because
we haven’t found a coach that we can have a long standing relationship with because all the coaches and the different masterminds and stuff we’ve had, they’ve served us very specific purpose in the stage of growth that we happened to be in at that time. They didn’t really serve like an ongoing purpose for us, but I can see your coaches almost acting like a sales manager for you. Yeah. Yeah, like they’re they’re kind of dealing with the sales team there managing the sales team, you’ve kind of outsourced that role through this coach. We’ve never quite had a coach kind of like that capacity, because we’ve always just handled that between us. So you
guys have each other too because you guys are mad driven.
needed to push as much as like I do in my team does.
Remember that one guy that started talking about I forget what he was saying on the phone, and I just got really frustrated and I’m like, Look, like basically hilarious talking about I don’t want to say any names. But
anyway, remind me the situation.
It was about the personality things he’s like, and he started asking just some weird questions. I’m like, man, like, I just got so frustrated. Like, why he asked me such he’s crazy. Things. Let’s get down to like business here, man. Like, what are we doing here?
You know, once Nick’s decided somebody’s full of shit, he’s just gonna call them out on their bullshit, you know? And in that case, you would decided this particular person was full of shit. I think I did
I adapt probably wasn’t right that Yeah, but But yeah, you’re probably right. I did. I think
you’re more patient than you used to be you’ve ever been. Anyway, we’ll leave that because I want to come back to cherry now first and cherry. When people talk to you about real estate as it from an accountant’s perspective, what arguments Can you make for and against Real Estate? Like, from your point of view, like you guys are obviously in real estate, so you’re gonna have a heavy bias towards it? But is there anything that you guys say against Real Estate? Like, hey, you know, what, before you get into it, this is something from my perspective that I think you should consider because it might not be right for you. Do you ever have that discussion? Oh, yeah. So what are some of the kinds of things that you bring to people’s attention? Or when I’m going to ask you the same thing? Um,
I think we have one client, I’ll common client, she’s no longer client, because she moved our province. She, she bought the student rental, and it went really well. And then, but she didn’t want anything to do with it anymore. One is enough. And like, I always use that as an example when I see prospective clients, because some people come in and they said, Oh, I want to set up a cooperation way away. For the very first one, I usually hold them back and say, Hey, like you should, why we hold them back. It costs money to set up a corporation and maintain the corporation. Right? But then if you are only buying one property, unless you’re super concerned about your the risk liability, the risk involved in managing your property, I would tell them not to just until you’re more committed, the decision is always about how committed you are, rather than Hey, like, does it make sense, of course, like there is I always explain to my client, hey, like, if you own properties in the corporation, it’s not going to be giving you immediate benefit, unless there are like slips, if it is just long term rentals. And that’s a different story. Like, it’s going to take a couple of years or a few properties to get to the break even point and then and then you will see benefits later on. And that’s
because for the first few years, there’s just not enough cash flow running through the business with your properties to pay for just the overhead of accounting and that kind of stuff. Okay? Why for flips? Is there a bit of an immediate benefit
of flips a consider business, just like rock stars income, then it will be taxed a small business tax rate at 12 and a half percent Exactly.
up to $500,000. of net income? Yeah. Okay. Whereas if you’re doing rental properties and selling them, a CRA is going to consider that a capital gain
sorry, the rent passive income. And then if you sell the property, that’s a capital gain. Yeah, it’s a capital gain. Okay. So tax that 50% of it is taxable, and then is taxed at 50%. Okay, and then how, how often would that happen before CRA says, Okay, this isn’t a capital gain, it’s actually a business because you seem to be buying and selling rental properties over a period of sometime or so many a year to CRA ever do that?
They do. It’s one of the most audited area, but it’s not usually not with related to rental property, per se. It’s usually with people who do not report any rental income, and then sell it and report it as capital.
Oh, God. Yeah. And then going back to the person who left province and you know, when we’re talking about like getting out of real estate, or it’s not, or some of the things that it’s not right for, can you continue down that line of thinking?
Yeah, yeah. So some other client would come to me with a large, large size of portfolio, and they came to me and say, Hey, I’m planning to sell this property, and I’m going to retire. And she made clear $200,000 from the sale. And that’s not enough for her to, to buy another property, if she’s winding down her business and everything. So then I tell her, like, maybe you should consider second mortgage or investment in the other options available, because depending on the life, I guess, the life stage that you are on, you may not like real estate may not be the right thing for you to do.
Okay. And then from an accounting point of view, because that’ll make sense. From an accounting point of view, what are some of the biggest benefits you find from real estate, strictly from the accounting point of view,
oh, you can refinance and it’s tax free, mostly, you don’t have to pay tax until on your rental income, you can usually claim capital causal islands, and you can postpone it until the year that you sell, those are really huge tax benefit, right?
The refinance one where you can extract money out of it. Are there any exceptions to that where you have to be careful where you like refinance the property? Give it the money to yourself? Yeah. What do you have to consider in that type of situation
if you take the money and not for investment for personal use purpose you are you’re buying your next home, because a lot of investor would start with converting their existing primary residence into a rental property and then extract the money to buy the next home. Technically speaking, interest related to that equity that you pull out would be would not be tax deductible. Got it? Okay.
So when you pull up money from a property, it should be used for another investment?
Yeah, any type of investment doesn’t have to be real estate, but it has to be investment there. Got it, even if it is gic earning light. Point 5% interest.
Yeah, God only got it. Okay. And if and if it’s used such that it’s tax free.
Is us as such, then the interest related to the equity that you pull out? What be deductible?
Yeah, got it. Cool. And now, Irwin, for you. From your perspective, do you ever tell people how you know what, Real Estate’s not right for you? Because I find like, between yourself, myself and naked, the answer is pretty much like, hey, buy assets, man, if you’re not building a business, then the best asset you can buy is an A, I always think of a nice income property as the best business in a box. Customers are there, they show up every day, they actually live there. They pay you every month, they don’t pay you they leave the property, like it’s the best business in a box. But do you ever find yourself talking people out of it?
Or no? If they have way too many concerns, then I’ll ask them if they really wanted. But then I go back to like, what is the problem they’re trying to solve? Like for us, we bought each of our kids a house, because we’re petrified of having to work longer into our retirement years to afford like the 140,000 dollars going to cost for tuition. Because based on inflation today, that’s what the tuition is going to cost for them to go to school. So I’m not like just think, how long does it take anybody to save $140,000 I’ve after tax money. So I’m trying to solve a problem. And so I told my client as well, like, What’s your problem? What are you willing to do to solve this problem? Because real estate is, it’s, it is a business. It’s really good business as an employee lyst business, for anyone who manages people, they know the difference between having to manage employees and having to be a customer. Because in our properties, we’re we’re primarily customers, our customer, customer, of our contractor, customer of our property manager, for customer, my appliance guy, right? And so to get rid of someone is quite simple. Right? If like my plans guy as Don’t call him again, I go to a new guy. Right? So I’m, you have so much control in that way. versus when you run a business and you have employees, you know, you pay CPP you know, you could be talking to unions, it’s all much more challenging. So that’s the beauty of real estate, like you said, investment in box. And I would like to add to that an employee lyst business,
the biggest negative for me, because I still want your answer on like, the concerns that people would bring up just to give some idea, the biggest negative for me, are the unexpected calls that you will get. Nick’s always had a great way to kind of rationalize this. But that’s the biggest negative in real estate I find because there’s no like announcement like Irwin heads up one of your properties in mid July is going to have a flood. So book off day, because you’re going to be dealing with a lot of plumbers that day, like it’s never that it’s always unexpected. You’re everyone’s calendar is always full. So the unexpectedness of the problems, which don’t happen that often. And if you have the right contractors, you can usually get around those pretty easily. But it’s that interruption in your life isn’t that can’t be planned for that is, to me one of the biggest negatives, especially if you’re raising a young family and you busy and doing other things. When you’re single and young. It’s not really that big of a deal. But to me, that would be one of the biggest things. But Nick, how you rationalize this once the best way ever for me, you were when you did that calculation?
Yeah, well, the reason I did that calculations go sitting in a basement on a Sunday evening with a sharp fact sitting on the stairs, and just like a little at the edge of some laminate flooring, and just sucking out all this water from underneath his laminate flooring. So I had a lots of time to think. But and also why the hell am I sitting here doing this right now? Because our, our the guy that we’re going to take care of us it was I forget like what we can but he just wasn’t around. It was just one of these odd days wasn’t around. I’m like, man, I have to go down there. So. But yeah, I thought about the time I was spending, I thought about the income that this property was making. And then the value that could be built up and all that stuff. And I just figured out how much time have you spent in this over the years of this property? actual time? And then how much money has it made? I’m like, wow, these are like some of the most profitable hours that I can have. Right? So just kind of make sense. I had to justify myself doing being there for somehow. So that’s how I did it.
I did the same thing you so good work lesson. For example, when someone gets offered promotion, they look at they should look at how much money they’re going to make more, and how many more hours are expected to work. And then what’s your, what’s your new hourly rate? I look at everything like that way. Because actually we actually know people who’ve been offered a promotion at the same and it works out to be the same hourly rate, you have to work this many dollars more for the budget to work this many hours more. So you’re making the same money per hour. Is that worth it to you? So let’s say I just did the same thing like mix mentioned of because we had those major wind storms we had like a month or two months ago, my handyman was on vacation in like Italy or something. So I had to go deal with it. So it’s important that you have a partner of supportive honey after deal with this. It was a is the cover over the front door. So it’s aluminum sharp, blown away. So So and to be dealt with immediately. So I told Jerry, I go deal with this. And so yeah, I went dealt with it. My customers are paying me over $3,000 a month for me to spend maybe two hours ago deal with it. Like that’s what he is do not do that for your customer who’s paying you $36,000 a year. Right. And I brought them I bought them gift certificates for the for the local trampoline park as well say sorry for the trouble.
Oh, you’re a nice guy early. Yeah. Hey, so then On that note, when you talk to investors, you said you’ll talk some flood of it if they have too many concerns. Yeah. What are some of those concerns that you’ve heard?
Like? Like people who are just petrified of tenants, for example, I have I have a friend who works for one of the huge soccer makes really good money, petrified at tenants. He won’t do it. And I believe he won’t be an investor. So never recommend that them do something else. So like private equity.
And what was his fear? I’m curious, petrified of tenants. In what way?
He just wouldn’t do it. I knew he wouldn’t do it, you know, as easily using my wedding party. Like, I know him that well. But there’s some people I know that won’t do it. Because we know there’s lots of people that want to do this. Anyone can do it. It’s just a bit. What do they want it enough?
I found that in because yeah, I’ve met similar people, of course, both Nick and I have and I found that when anyone’s facing a major fear in life, if they just write down the worst case scenario of what they’re scared of. And then next to that worst case scenario, you see, if you can kind of solve it, it really becomes not that big of a deal. So with investors, they usually will write down things like Well, I’m scared the house gonna burn down. And I’m like, well, like you can put next to that worry that you have insurance. And or some of them are like, I’m scared, the tenants are going to destroy and damage the house, that’s always a big one, like, well, there’s actually insurance policies that you can buy, they’ll cost you a little bit more, but they exist to protect you against damage from tenants. Another one will be vacancies, you can actually get insurance to protect you against that as well. So once you write that list, and you get your fears out of your head and put it on paper I found in life real estate or otherwise, you can kind of minimize those things. And then it becomes almost black and white. Like, yeah, I should probably kind of proceed with this, you know, but when you have that big, bad fear in your head, and you can’t articulate it, or you don’t put it on paper, I find it kind of just grows on you or doesn’t me anyway.
So and there’s just listening, people are just you just know they want it more than anybody else like Evelyn the marsh to Francesco made me. It just knew she wanted it more than anybody else. 26 years old, by 10 houses in seven years, she has worn it more than anybody else. Right? There’s just those people as well. And I know, I can tell when someone doesn’t want it that badly.
Yeah, why is that? Do you think their jobs too good, they’re making too much income. They’re too comfortable where they already?
Yeah, because, you know, this is something I do to myself is I do these things to motivate myself. Like, like I said, I don’t want to work into my retirement years to afford to send my kids to university, that is my problem as a horrible problem in my mind. And I don’t want to be a bad parent, I can’t afford to send my kids to school. So I created that problem. My head, it is probably legitimate problem. So I go and deal with these things. We bought them at your house.
Well, the flip side is it’s it’s a lifestyle decision to they’re like, Look, I’m happy like I want to come home. And I don’t want to think about my phone potentially ringing. I don’t want to think about this reading a real estate headline and worrying about you know, their interest rates and where they’re going and, and what’s happening certain areas, like they just they just don’t want to do it. So there’s that too. It’s not you know what I mean? They’re like, I’m good. This is like, I’m comfortable working till I’m you know, whatever, whatever age and then taking my retirement because I have a pension there. And I’m just going to that that pensions gonna make me happy with CPP and that’s it. And that’s great. I mean, that’s, that’s a great solution. And that’s a great life for a lot of people too. And, you know, they don’t know, I just personally don’t think like, one’s better for the other I think for I think for some people, one is better than the other, but not for everyone. Right?
What I don’t know, if people understand is because I don’t think people dig into this stuff as much as we do. For example, same friend, he said, because I said, like, How are your kids gonna ever afford a house? as well? We did it. My parents did it. Okay, so then they’re really digging into it. But I dug into my head, like, your dad was an executive at a big telecom company, your mom stayed at home?
My friend and his wife both make a lot of money.
How will your kids incrementally make more money just like you and your wife? Did? You went from single income? Mom stayed home to double income. Now, what do you expect it to do?
It’s a good argument. I use that a lot too. And I find that most people dismiss it as well, with like, well, incomes will go up. Like that’s the answer that I usually get is like, whenever I say, Hey, you know, property prices are going up at a rate that is not matching income. And now I think in the last five years, it’s becoming obvious to people because the delta is so big, but 1015 years ago, I would have these conversations. And the answer was always like, well, property prices are going up. But you know, that’s kind of like inflation and incomes will go up. And I’m like, you can’t dismiss it like that. Because the rate that incomes are going up is so much less than the rates property is going to go up. And now we’re seeing that, like, I remember having this conversation around 2005. And now we’re like 14 years later. And I can see like, yeah, to your point, it’s going to be very difficult going forward there Globe and Mail article Toronto Star article right now, that says today in today’s world, if you’re not in the 10%, top 10% of income earners in Toronto, you basically can’t qualify for a property, I’d have the article in front of me. So I can’t remember the math they were using if it was like in a single family home or what they were saying. But that’s kind of the trend that we’re headed. And if I extrapolate that forward another 14 years, with the population growth that we’re going to have in here and listen to Federal Reserve just basically is on the fence right now on whether they should hold interest rates in the US. They’ve been wanting to increase them. They’ve been wanting to get them to like 4%. So they’ve wanted to increase them. But now they’re thinking do they hold them again? Or there’s some talk of like, Is there even a need to possibly decrease them? So when you have monetary policy that’s just feeding money into the economy? And the population growth situation in Toronto? I feel like this is never discussed. What is going to the next 14 years? What will it look like here? like this just fascinates me to me, but I’ll stop on that. Because I know I get crazy on that. So what for you guys what’s net you? You are running your I win thing. You have Grant Cardone coming, can you how do you get to the point where you’re so first? How do you get to the point where Grant Cardone is coming to Canada? Like, is that something you also don’t tell cherry about where you just kind of go and say, Hey, cherry,
what’s her idea?
Sure, you’re rubbing your cloak cherries, closing her eyes and rubbing her head and she starts talking. So what what were you
didn’t like my original idea. So she pushed it in, and then we kind of got here. It’s not as simple as that.
I think her his coach recommended him to do some pre training classes and an
idea from you guys.
As a time I got coached by a different guy. And he said, Oh, yeah, people, would people pay money, pays attention paid something like that. And I said, No, don’t do free class, it doesn’t make any sense because people would not value it. So do no offense to same thing. But essentially, like you should do something different. And how many guys already doing the free class? He also had experience of doing a free class and having like two people show up. Nothing happened once. Yeah,
yeah. Yeah. So it was had that happen before. Once I remember. I think it was December, we started the class with like, eight people in a room that could clearly handle more than that. And they’re all scattered out. And you start talking like a wolf. Yes. into great.
Yeah. So then I was like, oh, let’s do something different. And I in my head at the time was thinking, Okay, maybe do like maybe a 50 people event, paid event. And we have a bunch of friends that are in real estate, we can have them all teach something. And and then I think my grandmother passed away at that time. So I flew back to Hong Kong. And the next thing I know is, or one is connecting with all these friends. And there was the first meeting that happened that cause it happened. And then and then I think it kind of took off from there.
We were thinking about hiring a speaker. And that and so then we were looking at that doing like,
host monthly meetings.
Correct. Okay. Yeah, I never thought most meetings, but 50 people, we have 50 members right now. So I’m used to doing events. We’ve done events of like 230 before as well. And then we’re looking at hiring a speaker because that seems to be a good model that works for for these types of events. And then and this is actually a nice story for like the good guy. That’s a good guy. But an introduction was made for me to and then from there another introduction was made to meet for me. And then from there another introduction was made to me that connected me with Grant Cardone party, and he was available. So like, Oh my God.
And so for those people because some people don’t know who Grant Cardone can just explain this guy and what you know what he’s about and why this is like a big deal.
So it was cherries idea to go to tonight’s growth con.
Yeah, because it’s obvious business reason. We just need to take a loss to have a vacation that we can write all about expenses. That’s why we were in Miami attending
TEDx growth. Cool. Let me paint the picture here and I’ll let you continue in a second. So Grant Cardone big real estate personality in the US runs a lot advertisements around real estate and creating wealth. He ran a conference in Miami that was going to be one of the biggest business conferences around and present day called the TEDx con. And they did get 32,000 people in a baseball it was at a baseball stadium Marlins baseball state Marlins baseball Florida’s be so you guys tacked on a vacation Nick and I have done similar kind of stuff where you go to a conference and a nice location. You’re like, Oh, this is a good reason for a little bit. Yeah, you go down to this thing. You get exposed to this guy and what he’s about you come back here, and you’re deciding about the speaker and this is where or went to your point, you get put in touch with Grant Cardone people.
I forget which point No, I think we’re already we’re already in works to get him here. We’re just negotiation I think No, because we have emails with with our team from December working on this.
I don’t know if we necessarily fix on have decided at that time.
negotiations, negotiations forever.
Well, there. There’s also a price point that we have to get used to right. Like, it’s a business decision, because now
you’re spending more money than you ever have put an event together. Yeah, absolutely. So So what do you have planned? Tell everyone What’s going on?
So we’re stretching ourselves to think we would hire like a dragon. Like if someone from the Dragons Den, possibly or someone from Shark Tank? And then that’s how and then the availability of grant was there. And then we Yeah, we did that. So then what we’re planning for November 9 is from our from this journey that I’ve been on, my wife’s been on, probably been on with largely with YouTube. been here since 2010. For example,
as long it’s been it’s been
really crazy. Holy cow.
Story, how I got here, and people like the story Bombay
book, did you know, the only was
that complicated to start working together
with. The only reason that I actually met with Erwin, is because I thought you remember, at that time, at that time, we were so busy, like and I didn’t know I booked it, someone else. I didn’t know. And I just almost never even took meetings outside of me was still even less now. So I did I did take some meetings, I guess with that, but I thought you remember when we were meeting, I remember our first meeting. So how did you get here? Yeah, I’m curious.
So back in the day before social media was really popular, we were doing email lists, right? Oh, you know, anyone was a meetup for talking about Hamilton investing, you know, get on this email list. Right. And it was wasn’t like formal was Infusionsoft nothing like that. It was just everyone applying to this this cc Yeah. Whenever he just keep replying to this email and they will be on the list. Right. So so I was on one of those. I was frustrated with the broker I was working with because he are traditional real estate. Residential didn’t wasn’t jiving with me for investment side. So I asked the question to the email list. Hey, does anyone know anyone who who specializes in investments in Hamilton? And then it’s actually Maria McCool’s, he replied back and said, Leslie kitten, Leslie kitchen. She’s amazing. Leslie at Rockstar broker calm and share her email address. So like, Oh, what’s this roster size copy, paste, Rockstar brokerage. com put it into Google. And then I find that for your training class, and then I got here. And then a free training classes. It was this is great. And then then Tom, you give the presentation. So everyone’s swarmed you afterwards. But I like to research people. So I know Nick is highly involved in this business.
You and Nick are different personality types. I can just imagine that first meeting.
But I went straight to Nick because there’s no line
I actually don’t even remember this. I just remember meeting with you at the office. We were at that time but this morning, nice to you are
talking to everything was cool. I forget where it wasn’t my point in my journey for corporate world as well. corporate world as an existing investor. I believe I’m the first person to join with join Rockstar without being a before being a member you might be I think you were Yeah.
Now I think I remember because you said your broker when you were leaving, went and looked up like
yeah. So what’s common? I didn’t realize that. So now I know that’s very common, right? So when someone’s leaving a brokerage, what they’ll do is the broker will so we don’t do any of this. So that’s why I don’t know. But the broker will go and look up the person or the brokerage and be like, Well, look, they’re not doing any business. Like it doesn’t make sense for you guys for you to go there. And,
but it’s brokerages would say that about us because our business was so scattered across Ontario, you couldn’t you couldn’t see if we
wouldn’t actually see the brokers you would see their like the reps names, and like the top rep who I knew the volume that that person was doing, you know, and you said, you said what the brokerage show the broker showed you and I was like, Yeah, but that doesn’t work. Because he’s looking at one board, not between the Hamilton board, the Toronto board. And at that time was even more second. Now. There’s a regional board. So it’ll give you a little bit better idea. But But yeah, I was I was like coming. I’ve never thought about that. But yeah, so
I wasn’t licensed to that point, though. But the plan he wanted me though. I was his client. Yeah. Could you saw potential? And then he was that he was livid that I didn’t join.
Yeah, that’s right. Remember that now?
Yeah. I remember you just calling me saying, hey, do you want to have lunch at this Greek restaurant with this guy, Irwin? And I’m like, are you paying for lunch? Let’s go. And we sat down. And I think that’s when you said, explain, hey, what you wanted to so this must been after you met with Nick.
Hey, this is after it was Nick. And it’s been a long time. But I remember you coming to the interview with Nick, because I say I want to join this place. You came to my interview with Nick and you shook my hand because you said this is the best job application ever seen.
remember, I don’t remember
any of that. jp golf was pretty good. His his thing cuz he wrote us a lot at the same free training class, he came. And during the class, he ended up writing us this big long letter on the back of the enrollment form of why he wants to work with us. And he
found the letter at the end of the class, it was like Boston with a bunch of other papers were like, hey, Nick, look, somebody left us a handwritten note.
So yeah, there’s been there’s been a few thoughts we’re trying to work on. It’s been
great. So you joined at that moment, many years ago. And it’s led you to this point now. So carry us through. So what do you what are you doing?
So number nine, bunch of our friends to get together? Kind of, it’s hard to explain what we do. But I’ve met a lot of people on this on this journey. People who are consistently, repetitively make good income, build wealth, many of them have real estate, but they also do other things. Some do other things for active income. One of my friends is a stock investor, who sells options to make more active income. I have friends who, you know, survived for four years, but they had to because the passing of a partner like think became a single dad overnight with three kids. So he couldn’t work for four years. So he how he survived was through real estate, like refinances sold the property and did private lending. So these are these are strategies that will be discussing discussing on on November 9, Toronto Congress center and of course, we have a keynote Grant Cardone Tom been tied via Thomas speak as well, because starting a small business is a good way to generate
you invited me and I didn’t hear Nick’s Yeah, I
don’t know if I can get both of you guys. So I
think that’s great. I think Tom’s going
to put a presentation together. Yeah, this is great.
I paid her when there’s another way that there’s another way they’re going to share how to make money. I’ll have people not to present and hate them so they get the brother.
Yeah. But yeah, you both have tickets to come so if anyone wants to hang with Dominic to they’ll be there.
When you’re working with grant and SAR will share the website in a second when you’re working with someone like a Grant Cardone you ask him to speak about a certain subject or does he come in with like a prepared talk?
We are contractually able choose what he we negotiated this but we are choosing what to say and the plan is will choose a topic I’ll probably go back to some old footage to see what I liked what we liked a post up wholesome folks as well, because there’s actually there are quite a few fans in Canada. Like there’s a bunch that went down to Miami.
I know there are because people have approached me about Grant Cardone specifically and said they were really excited to hear the news that you were doing this that kind of stuff. So super cool.
Yeah. And he’s a wealth hacker to himself, you know, start from nothing. His dad died when he was like what?
now he’s grown his real estate business over a billion over a billion under assets, assets under management. He actually focuses on low cap rates, which I was really fascinated by. And he’s one of the top sales trainers in the world because he focuses largely on doing corporate sales, selling to corporations, large teams that have sales people. So he’s, we, I jive with them because I think sales skills is something that’s completely neglected in education. And when I say see out there, hey man, and honestly what I see when people people know we’re doing this event, so people are pitching us to come speak at our event and like wow, that’s the best pitch you get.
How did you get yourself some sales skills? Is that the coach that you hired to help you that because you don’t come from a sales background? No, I don’t come from
a business background. I’m a high C by trade. So I’m so like in
person? Yeah, I’m an analytical person, but I’m also someone that believes that whatever skill you want, you can go learn. So I’ve studied Brian Tracy extensively. That’s probably my biggest source of training I’ve listened I’ve gone through his sales training program is four times so for those
of anyone’s listening you don’t know what this gets one of the persona personality profile types and disc is driven eyes interpersonal SS steadiness sees compliant. Is that how it goes? That’s your high C, your D DC. Oh, your DC. That’s really rare. Yeah, that is we don’t see that often.
Okay, cool. And then so the website like to check this out. What’s the website to go to
get wealth hacker.ca. Again, its wealth hacker.ca. And we have a discount code three, go ahead. And yeah, totally. Discount Code for 10% off. It’s y el y te, which is the acronym for this show your like your turns y el it is discount code. Wealth hacker double. That’s
very kind. Thank you.
Well, happy to you know, we’ve done We are so grateful to be here. It’s funny, because so many people have asked me Are you still a rock star? They haven’t kicked you yet? Like Do you know something? I don’t
And then the other end of it is people who don’t know who rock star is the assumption is that they always ask do you own it? Is that your brokerage? Like
there’s a few people here that actually own Rockstar? Other people on the team that Yeah, we’ve had multiple people we can all own is fun. Yeah, let’s all do that.
And then just leading up like it is obviously a big deal. Something the biggest you’ve ever done putting on an event like this. What’s going through your head right now? Like what are you guys freaking out about? I think that’s in for people to know, like, what is it that in the back of your mind right now saying Holy shit, because there’s got to be something? Oh, yeah. Is it getting just people to show up?
to I guess money is one thing, right? cash flow. So I did share in the Rockstar entrepreneur with cam that hey, like, if you go into a new business to me as a brand new business, you really need to do the production. And for us to look at our money situation every single month coming in and going Oh, it’s it’s it’s a big deal. I think the second part is that are one being excellent at delegating work means also that someone has to pick up the slack. And he has a great team. We have Megan, we have Maria, we have Darren as our social marketer guy. We have an event planner, but sometimes you still need the internal. That’s the reason why you guys are partnered together, right? You you guys own this brokerage together. So so I feel like I’m the one that has to piece them all together. So putting it in a system and trying to track it. And that is the really overwhelming part for me,
where people read out there, like people read like four hour workweek. And they think Oh, yes, you know, just four hours, you get it, you have systems, you have it all documented, you’ve trained your system. It’s easy now.
Yeah, it’s four years to get the four hours.
But I don’t know if you ever actually do get the four hours. Like there’s the things always get dropped. And you still have to always cover for things and everything needs more hand holding the you expect. So that’s, that’s it’s an overall thing. Like cherry said, cash flow, thank God for our portfolio, because without our portfolio, we wouldn’t have the seed capital to do this. Because we’re able to do this all entirely ourselves. We are the only investor on this. There are the we’ve had people reach out just like softly like, hey, do you want investor? But I think you guys know, you really want to give control?
Yeah, control is a big part for us be about living life on our own terms is having control about everything we do. And to your point about the foreign we can send I think we have races in life, you know, you have Sprint’s like, this is a sprint for you putting on this November thing, and November is a sprint where you’re going to kind of run hard towards the state. But after that, you might have a few weeks off for hours, who knows where you’re chilling out and that kind of stuff. So I think Jerry doesn’t believe it. But there might be moments where you kind of go through a big race to accomplish something and then you can totally chill out. And I think really in life, we need that in the weeks and the months and in throughout the years. Right, you just happened to be entering a bit of a sprint a big one for you guys. And I just want to thank you for sharing your story that it’s pretty unique with you guys both you’re very open and sharing your journey like Jerry everything you’re sharing just about your own business and about this event, or when you’re very much like that as well. It’s not common for people to just kind of bluntly and humbly kind of just state where they’re at in life, and what they’re doing and for some of the reasons that they’re doing them. So really just thank you for sharing that information the way you have here. I mean, it’s a big deal. I think it’s important I would have liked to listen to something like this from people like yourselves when I was about to quit my job and kind of get started just to kind of get into your minds a little bit. So really just want to thank you for sharing the way you have.
Well we’ve i mean i personally I could speak for myself but I we’ve learned everything from you guys to right like from the marketing side. So then I don’t I can avoid learning the hard sales pitch type of skills that I don’t really have. So I can put my marketing system bulletproof so that I can just walk in and do the sales without doing much sales page. So that’s the part that I’m really grateful for
release Tommy Yes, you see my dams and texts. It’s all all straight for the sale.
For people who want to get your yet God is hilarious
like I don’t even know you.
So give us a date one more time in the URL one more time.
November 9, Toronto Congress center, November 9 this year 2019 URL is wealth hacker.ca discount code y el whitey
capitals, no capitals as a matter.
Hopefully doesn’t matter. We’re trying to keep this simple. Okay.
Awesome. Thanks, guys. Really appreciate this. Thank you. Hey, everyone, it’s Tom crowds against hopefully you enjoyed that. And you can get more information on Irwin’s event in November at wealth hacker.ca. He offered that discount code y el y te. So if you want to buy tickets for his event, you can get them there using that code that it was very gracious very when Thank you, Erwin wealth hacker.ca is the URL to get more information about the event. And if you are looking for real estate specific information, some of the best stuff are the reports that I was mentioning at the beginning. You can go to Rockstar inner circle calm forward slash reports. There’s four different reports that we have lie on a live on there. And the latest one is Ontario’s population explosion The Untold Story. So if you want some of the population data and some of the go train expansion data that we’ve collected all in one report, you can get that at Rockstar inner circle.com forward slash reports. Thanks for listening. Thanks for the feedback. And hey, if you’re listening to this podcast and you haven’t had the chance to give us a rating on iTunes yet we would greatly we appreciate if you think we’ve deserved and earned that and you haven’t done that yet. We thank you in advance for even considering to take the time to do that really means a lot to us. The feedback about the podcast really means a lot to us. Thanks for all of it coming in. We really really appreciate that. And if you have any ideas for the show, you can always email them to podcast at Rockstar inner circle calm. That’s podcast at Rockstar inner circle.com. That’s it for now. Until next time, your life your terms