Episode Transcript
[00:00:01] Speaker A: If you're looking for the skills and tools to succeed in real estate investing, you've come to the right place.
This show is about breaking through barriers, breaking through limiting beliefs, and breaking through to the life that you want to live through the power of real estate investing. You're listening to the Breakthrough Real Estate Investing podcast. And now here are your hosts, Rob Brake and Quinton d'. Souza.
[00:00:29] Speaker B: Welcome, everybody. Thanks for joining us again today.
We have a very special show. It's not really that special, but we're gonna be talking a little bit more today.
Why'd you, why'd you give that face? Quinton, I think.
[00:00:43] Speaker C: I think you're special.
[00:00:45] Speaker B: Thank you. I appreciate that.
No, but we're doing a little bit different. We don't have a guest today. We're just going to talk about some stuff. But first, everyone should go over to Breakthrough reipodcast CA and connect with all of our past guests, listen to all the shows, all that stuff, then go over to itunes and rate and review the show because it helps us a lot as far as the rankings go and getting noticed and, and being able to spread this information to as many people as we possibly can. So please go over and do that when you have a chance. Quentin, how are you doing today?
[00:01:19] Speaker C: I'm good. You know, I got to the gym this morning, recovered from Canada day, enjoying, you know, just getting stuff done, trying, working on some refinances.
You know, some of the lenders are helping, some of the lenders are not helping. And it's, I guess it's part of our, you know, our discussion today about what's happening in the market. So I think that there are lots of opportunities and there are a lot less people who are able to take advantage of those opportunities. And it's, it's definitely showing in, in the, the market.
I'm not sure if everybody understands what the real estate cycle is, but all markets have cycles, and each submarket is in a different part of the cycle. And it's up to you as a real estate investor to understand what, where in the cycle your market is.
So you have a boom, you have a bust, and you have a recovery. And all of those phases, there are different strategies that work best.
So when you're in, you would say a bust phase, you won't. You probably don't want to be flipping properties because if the market continues to go down and you've purchased something at a, you know, a specific price and, you know, every. The longer that it takes you to flip something, the, the less and less equity you'll have and the less and less your profit. Now if you have a big enough spread when you're buying it, like talked about with Manny, our previous guest, then that could still work.
But you have to have a lot of efficiencies to make that work. If you are, you know, looking to buy a good cash flowing long term hold, you know, in, you know, the, the bust or going into the recovery is a good time to be able to purchase. Especially if you know your plan is to hold on to that property for, you know, five years, 10 years. We're not talking about one or two years. Right. We're talking for a longer period of time.
There are lots of benefits to being able to do that. But most people are too scared. What's that Warren Buffett quote that you've heard before about?
So you know why?
[00:04:03] Speaker B: When everyone's.
[00:04:04] Speaker C: Be fearful when. No, be greedy when everybody's fearful and be fearful when everybody's greedy. Right. Something along those lines. And it's kind of like working against what your common feeling is.
And I would say that there's probably a, you know, a malaise in the markets right now. It's, it's, that is really hard to find good, good buyers and there aren't that many buyers that are willing to buy right now.
And sellers are having to be creative in order to get deals done.
And I find that the realtors or agents who, you know, have been used to just getting deals and you know, putting on the marketing and then MLS doing all the work for them, they're having a tough time because it's just not that easy to find the buyers you're going to, you have to work a little bit harder to make deals happen.
[00:05:07] Speaker B: Right. It used to be that you would put the property on the market for a week and have multiple offers to choose from at the end of the week.
[00:05:15] Speaker C: Yeah. And, and I've been hearing, you know, people having listings up for months, even almost a year, and sellers who aren't willing to, to bring down their price and properties just sitting and sitting and sitting because it's just not going to sell at that the price.
[00:05:36] Speaker D: Right.
[00:05:36] Speaker C: The market equilibrium, you know, always properties move, but it will always depend on what the price is. And if you're not willing to give up on the price, then you know, it doesn't move.
So you have to be, you know, and if you don't need to sell, that's probably not a good time to be selling.
[00:05:56] Speaker D: Right.
[00:05:57] Speaker B: Well, what would you say, like you mentioned, like just go back to where you started was maybe it's not a good time to be flipping. But you said, you know, because if the market goes down in like during your, during the time of your renovation, what would be some of the indicators to look for where you might be able to predict that being the case?
[00:06:21] Speaker C: Recent comparables in the area are always within 90 days. Are always a good way of being able to do that.
How long it's taking similar properties to close in a given area, you know.
[00:06:34] Speaker B: Looking at fixed up ones.
[00:06:36] Speaker C: Yeah. Like look at the neighborhood fundamentals of the area and what's happening in the particular neighborhood or area. You know, like you could be in. I was just talking, I had a coffee with a friend of mine this morning and he finished like a, like a huge custom home build and you know, as he was getting ready to, to move into this, this house, he, he had two people want to buy the house from him.
[00:07:05] Speaker B: Oh really?
[00:07:05] Speaker C: And we're talking like probably, you know, in the four to five million dollar range.
[00:07:10] Speaker D: Right.
[00:07:10] Speaker C: Which is not the average price. So, you know, I think that properties will move depending on the area and marketed, but given a specific neighborhood.
[00:07:23] Speaker D: Right.
[00:07:23] Speaker C: If you're looking at single family homes in Toronto, not condos, but like single family homes, detached homes, semi detached homes, they are still moving and they're still moving at like a good rate. But you look at condos, it's like a standstill.
[00:07:42] Speaker D: Right.
[00:07:43] Speaker C: Even the existing stuff.
[00:07:45] Speaker D: Right.
[00:07:46] Speaker C: Is, isn't moving.
So it also within the market, it depends on the housing type.
[00:07:52] Speaker D: Right.
[00:07:54] Speaker C: You're finding that, you know, a lot of duplexes aren't moving. People who have duplexes that they've, they've listed on the market, they're moving, they're not selling, you're finding.
So there's that real estate cycle that we talked about. There's also a lending cycle that probably we don't talk enough about and lending moves through the same sort of cycle as the real estate cycle does. You have a point where lots of people are, are able to get loans and lending is, is really easy.
A recent example would be I would say even, you know, just before COVID or I, you know, maybe in 2021, even, you know, where interest rates were quite low and you know, there was ample people being able to get loans and lending.
And then as the interest rates went up and people were having trouble also you were finding that banks were being more judicious in who they're lending to and the criteria for those loans, you.
[00:09:06] Speaker B: Know, but at that time also just as an observer and someone who was buying property at the time and, and, and whatnot. I could see the sort of frivolous nature of the people buying places at that time. It was, it was pretty easy to spot, you know, buying stuff way overpriced because, because you could quote unquote, afford it at the time. And you know, it wasn't, it wasn't too hard to see as someone with a little bit of experience that almost probably every one of those people that bought at that time is in some kind of trouble right now.
[00:09:43] Speaker C: Yeah, they had that fear of missing out, like if we don't buy now, we're never going to be able to afford it. Right now from a real estate investor's point of view, the way that I would see that is, is does the property cash flow, can I hold on to that asset?
[00:09:59] Speaker D: Right.
[00:09:59] Speaker C: Not from like a first time home buyers or like moving up type of buyer, but from an investor perspective, I would say if those people were a cash flow positive when they purchased the property and they locked into a longer term mortg, they're probably okay. But as they come up for renewal, they may have a problem depending on what market they're in because the rents haven't kept up and interest rates are going to jump up for them when they renew. They're going to be in a, you know, a more challenging position.
Now it doesn't mean they're going to lose the asset, but the, the reason why banks, you know, charge a premium on second properties and you know, other types of real estate that aren't your primary residence is because people would rather default on their investment property than their home.
[00:10:55] Speaker D: Right.
[00:10:56] Speaker C: And so there's the, the risk associated with that. But you know, lending goes through cycles and you need to know where you are in the lending cycle. And right now lending has tightened up. It's, I find that it's a little bit more challenging to get refinances done.
People are a little bit more careful. You're finding that there's. I, I find that the finding good qualified buyers is harder and they have to bring more capital.
So you know, that's, that's really what's happening. And there's lots of listings, I'm seeing lots of listings, but they're sitting and sitting for months and months.
[00:11:36] Speaker B: So you think that that is so you can show a seller recent comps, right. Recent sales comps for their property and they're still going to want to list higher. A lot of the time it's a sort of like a seller's denial of where the market actually is. And I, and I've seen that a lot, too.
[00:11:59] Speaker C: Yeah. Yeah. I mean, a lot of people will say, well, last year I could have got $200,000 more for the house.
And, and, you know, the response would probably be, well, that was last year, and you should have sold it last year then.
[00:12:13] Speaker B: Yeah, right, let's go back and do that.
[00:12:16] Speaker C: Yeah. But, you know, it's, it's one of those things where you have to take the market where it is today, and if you, if you are serious about selling, then you need to price it accordingly or have, you know, be creative about what you're offering. Maybe you, you offer like a second position seller financing, you know, to help somebody bring their down payment if they're, you know, working on it or, you know, whatever you need to do to, to make it work. Right. But I, I don't think that people have that experience.
Not only, you know, the realtors, but, but also, you know, people who sell, they're maybe not investors. They sell maybe one or two properties in their lifetime.
[00:13:05] Speaker D: Right.
[00:13:07] Speaker C: Not one or two properties a year or, you know, or buying multiple properties in a year or selling multiple properties a year. It's just not in their experience.
So they rely on their professionals, Realtors, to help them to do that. But if they've never had this type of environment before, it's harder for them to, to, you know, to be creative.
[00:13:30] Speaker D: Right.
[00:13:31] Speaker C: And that's maybe what. What's required now.
So it's, it's quite a, quite an interesting time. But if I was in a position that I could buy and I, like, I'm seeing cash flow everywhere. I'm seeing lots of deals are cash flow positive.
[00:13:48] Speaker D: Right.
[00:13:49] Speaker C: It's just that the mindset of the, the people who are buying now isn't there. They're just not ready to buy for whatever reason. But, you know, a couple years ago, people were like, oh, I can't get cash flow. This is awful. You know, like, nothing's working. Well, now it's all working.
And what are you doing?
Like, why are you sitting on the sidelines? Are you waiting for another 2% or 5% or whatever it is? If you're going to hold it for 10 years, what does it matter?
Right?
[00:14:19] Speaker B: Well, I think too, that a lot of people, like, a lot of people now aren't in the position that they were before to make the moves. Could be part of the reason. Right. Like, you know, with things going the way they've done, I feel like money's tight for a Lot of people.
And that could be. And also lending is tight.
[00:14:39] Speaker C: Yep. Yeah. Because we're in that part of the cycle. But if you're, if you've positioned yourself well, then I think you're, you know, and you want to continue to grow your portfolio, then this is a, an opportunity. I, we are like, at Durham rei, we are seeing people closing on new properties.
[00:15:00] Speaker D: Right.
[00:15:01] Speaker C: But these are experienced investors who are buying duplexes and doing conversions and things like that. That, that work, that, that makes sense to them.
[00:15:10] Speaker D: Right.
[00:15:12] Speaker C: I'm, I'm not seeing some, the, some of the numbers work on the bigger projects. I don't know how they, like when I see additional dwelling units being built. Yeah.
I can't see how the numbers are working. Some of, like the, when you're densifying existing buildings, tearing it down and putting up like a five or six unit, I, I can't see how the numbers work on that. Unless you've owned the property for a long time and even then, like, you're just pulling your capital out. What's, what's the point?
[00:15:45] Speaker D: Right.
[00:15:45] Speaker C: Like, like you're not. There's no return on it. It's just return of your capital. And, you know, I think that.
[00:15:53] Speaker B: Wouldn't there be additional rents, though, on something like that?
Well, I mean, like, that would be, that would be the idea, I think. Yeah, Yeah. I, I. Even with those additional dwelling units, I've never really seen the kind of return that I think would be necessary, especially when, and I mean, I don't know if things have changed recently, but especially when it's hard to say how they're going to be appraised.
Right. Like, that was always a thing that sort of put me off with additional dwelling units was how are they going to be appraised? Because a lot of times in the past when there was separate buildings on one property, one of them had no value, like zero value.
I seen that a lot of times during appraisals.
[00:16:44] Speaker C: Yeah, they've gotten a little better because of the fact that they're legal units. But what I'm seeing that, that actually makes more sense is in some municipalities in, in Toronto, they're allowing up to six units to be built.
So I believe Scarborough and a few other like, within Toronto, they, they are allowing six units by.
[00:17:11] Speaker D: Right.
[00:17:11] Speaker B: Yeah.
[00:17:12] Speaker C: And, well, that changes the type of financing that you can get.
[00:17:16] Speaker B: Huh. And right now you're talking to the Quinton d' Souzas who are listening, but do you have any. Like you talked about positioning yourself properly to be able to let's say even make your first investment in a market like this. How, what do you think? Do you have a tip on somebody who's wanting to make their first purchase, could position themselves right now?
[00:17:40] Speaker C: Yeah, you want to make sure that you access the capital that you, that you need before you need it. And sometimes that's a little bit hard to, to do. Like what you would do is you want, you would want to get access to some lines of credit. You want to make sure that you're, you've built your credit, you have a good, you know, good credit score and you've kind of managed that.
You know, you have loans that you've, you've taken out and you've paid back and, and you know, you've got some history there. So that's all stuff that you can work on to kind of prepare yourself. Also, you know, take, get, get a few lines of credit that you aren't going to use, but to have, just to have so that you have some backup funding for yourself perhaps that you could use for, you know, a renovation or like an improvement on the property. But the fact that you don't need it right now means that the bank is more likely to give it to you than when you actually do need it.
[00:18:44] Speaker D: Right?
[00:18:45] Speaker C: Because that's when you start to look for it and they're like, no, you already have a loan, you have this and that. We're not going to give you the line of credit. But kind of positioning yourself by getting that before you need it, it helps you to be able to, when you do do the renovation to have to have access.
So access it. Now the other one is don't get in over your head on the, the amount of purchase, like the size of the purchase that you're making, particularly if this is your first investment property, make sure it's cash flow positive, right. So you can carry that asset. Maybe if you're not comfortable with carrying debt, you put like a five year lease on it or five year mortgage, like fixed rate term, just so that you know, you're comfortable with the underwriting at least for five years, you know, to get started.
That, that sort of thing would be, I think make it easier and more comfortable for you, particularly if it's your, your first purchase. And go with an experienced realtor who has done a number of rental property purchases and owns rental property themselves. I think that's, that's helpful so that, that way you know, at least they can help you with the underwriting and learn to underwrite yourself.
[00:20:09] Speaker D: Right.
[00:20:13] Speaker C: The other thing is just have some criteria when you're talking to your, your, you know, the, the professional that you're working with, whoever it is. Like, I'm looking for a duplex in this area for around this price, right? Because that way the person was, oh, well, I know this. I, I know this, this might be coming on the market. So I, you know, they're, that, that person can help you, but come up with some criteria, some basic criteria.
[00:20:41] Speaker B: So don't just call, don't just call the Realtor and say, yeah, sell me on Costa Rica.
Which is what I get a lot, you know, and so, and it's like, sell me on Costa Rica. Oh, boy. I don't know the kind of property you're looking for. I don't know the area you like. I don't know anything. Okay. Sell you. I'm buying here in Costa Rica. So. Yeah, no, I agree. Like, know what? You know what? Like give the realtor some kind of direction.
[00:21:12] Speaker C: Yeah.
[00:21:13] Speaker D: Right.
[00:21:13] Speaker B: To go in. And that, that makes the, that makes you really be able to hone in and compare, you know, compare apples to apples, you know. Sorry, I wanted to say one more thing because I'm going to throw a plug at you because I think this is important.
Like a Durham REI members have access to like cash flow calculators and things like that, right? Like that can help them.
[00:21:40] Speaker C: Yeah, absolutely. Even on our website, there's free, free analyzers. So if you go to Duramari Ca and go to Tools, you, there's actually some free analyzers there. Just. I just want you to not make a mistake, right. Because that, that can, that can be very painful, especially if you're losing, you know, a thousand, $2,000 a month negative cash flow. That, that can be quite painful. So run the calculators. And you know, and, and that way at least you, you're able to. And there's lots of different calculators out there. I just think that a lot of them consider mortgage pay down as part of your profit. And at the end of the month, mortgage pay down doesn't mean that you're, you're not going to come out of pocket, you know, so you have to be careful on how you, you look at the analysis. Also, you know, you have to include maintenance, repairs, you know, you have to have a percentage for those in your underwriting vacancy, property management fees. All of that stuff has to be part of your underwriting.
[00:22:50] Speaker B: That's why I asked you, because I know you'd have a good one that was relevant to people listening. Right. Like you can find, you can, you can type that in. And there's, you know, a million of them online. But I think it's important to have a good one that considers everything in a practical sense so that people don't get, you know, so people don't make the wrong decisions and the wrong moves.
[00:23:13] Speaker C: Yeah. And you know, it's crazy. Like I've, I've seen, you know, there's a lot of purchases that have been going sideways recently, different places. I was talking to a doctor friend of mine who bought a lot of different properties internationally and a lot of their Mexican projects have, are going sideways. Builders don't have enough cash to finish their projects. They have half finished buildings. They have buildings that are, you know, the project is finished, but there's not enough money for repairs on, on any of the units. And so a lot of these pre construction projects that were bought internationally have, are going sideways, which is very interesting. It's not something that, you know, a lot of these people had thought of and, and they have, you know, that's their entire, you know, money like that's all they have.
[00:24:11] Speaker D: Right.
[00:24:12] Speaker C: That they've invested in these side projects for their, for lifestyle or they thought they were going to get income from it. And, and then some of these markets are super saturated. Like Tulum is a good example where you know, we went and looked at some projects last year and then the same area, you have like, you can imagine a, a new building comes online and they, and the whole intention of the building was to like rent it out short term. Airbnb. Well, you have 50 units, all Airbnb, all the same area. It's, it, it becomes hard to rent out those units at the same time. And you know, there's you know, these type of saturation issues in particular areas.
So not only are we getting non, you know, not completions happening, but you also have, you know, hypersaturation.
[00:25:07] Speaker B: Yeah.
[00:25:08] Speaker C: Which, and you have like I was talking to another person where they were saying that some of the Air. Airbnb host that do these things aren't taking on bachelor or one bedroom units because there's just a saturation of them.
[00:25:23] Speaker D: Right.
[00:25:23] Speaker C: Which is what the investors were buying because they were less expensive.
[00:25:28] Speaker D: Right.
[00:25:29] Speaker C: So I mean whatever your first property is, you know, it's important to understand not only the, you know, the general fundamentals of what's happening, you know, macroeconomically, but just in the area that you're buying. You know, do some, do some research on there, what's happening, what's changing.
[00:25:51] Speaker D: Right.
[00:25:52] Speaker C: And doing that due diligence, I think is, is an important part of the process that we probably don't talk enough about, you know, is that, you know, making sure that you understand what's happening in your neighborhood, in the given area that, that you want.
And the other thing is like, if you're buying property to have and you're, you know, you're, you're doing this to create wealth and income for yourself in the future, then have that long term point of view. Think about how it is going to be to hold this property for 10 years or 20 years. Because if you put a 30 year amortization mortgage and you hold on to that for 20 years, you're going to end up with a proper property that has almost no mortgage on it. And you know that you, that you own and you know, over that 10 or 20 years, the appreciation that you will get is going to faro outweigh even the mortgage pay down on that property if you're buying in those right neighborhoods, in the right areas.
[00:27:03] Speaker B: And then if you think about it too, if you have like five of those, you know, when you get to a certain point and, and you know, whatever other investing and stuff that you're doing as well, when you get to that certain point where you have held on to these things for let's say 20 years now, you're ready to sell one off every two or three years, you know, potentially. Right?
[00:27:26] Speaker C: Yeah, yeah, absolutely. Yeah.
[00:27:28] Speaker B: And, and that can provide you with like a really great income for 15 years, something like that.
[00:27:37] Speaker C: Yeah. Or, and at the same time you probably won't be spending all of it.
So you know, what, what I've seen happen with different investors when they get to that point where they've owned the property for 15, 20 years and they decide that they're going to sell one or two properties, they usually take those funds that they have invested in the property and they convert it into something that generates income from, from the, that equity.
That might be private lending, that might be, you know, there's, you know, ETFs or the stock market and you know, things like that. There are annuities, there's insurance. There's lots of different ways that people can use to create different types of income.
But it's definitely something that you see happen at different stages. You know, we're at different stages of our investing. We, we do things differently. Right at the beginning we're usually highly, highly leveraged.
Lower cash flow. And the longer that you own something, you have a lot less leverage and your cash flow grows.
Right. That's what naturally happens over time. Now, you may refinance that property, but even when you try to refinance it, you're never going to capture all of that equity because the bank's just not going to give it to you. So you're going to have to, you know, if you can't refinance and you.
[00:29:11] Speaker B: Probably don't want to.
[00:29:13] Speaker C: No, you want to be in a good position. Right.
But I think right now there's a lot of, still a lot of fear in the market.
People aren't sure what's going to happen with tariffs. People aren't sure what's going to happen with their, their jobs. And, and that insecurity is making it an opportunity for people who have positioned themselves to be able to purchase now. So I think that if you are in the position as a buyer and you're looking to buy, this is the, probably the best market I've seen in a very, very long time to be purchasing.
Like, I mean, nobody can really predict where the bottom is, but I wouldn't be at a point now, like, I would say don't, don't try to predict where the bottom is. Just make sure that you're in a good position that you're buying something that you, you want, you're getting the asset that is cash flow positive, that in an area that you want and then, you know, move.
[00:30:10] Speaker B: Yeah, exactly. You're not going to be too sad if you have a property like that, exactly what you just described, and the market goes down another percent, you know, or something like that, and go, oh, darn, if I waited out, I could have got it for another percent lower. But, you know, you might, you might potentially miss out on that very specific property that you're looking for if you do wait for that.
[00:30:36] Speaker C: Yeah, it's, it's quite an interesting, you know, position that, that we see here. And I think it's an inflection point and an opportunity. But most people only see the obstacle. They, they don't see the opportunity.
And, you know, part of, you know, what we're doing here is hopefully showing people the opportunity and think, getting them to think about the opportunity, not just the obstacle.
[00:31:04] Speaker D: Right.
[00:31:05] Speaker C: Because if you can find the opportunity and take advantage of it, you could significantly improve your families, yourself and your family's future by being able to, to do that. I, I'm not a realtor. I like, not, not saying that's a bad thing, but I'm not going to make any money.
Nobody's going to call me to help Them to sell a house. Like, it's not going to happen. So. Or buy a house. It's not going to happen. I'm not going to do it.
[00:31:33] Speaker B: Not only because if you're looking to list or buy, call Quinta.
[00:31:37] Speaker C: No, it's not. Not going to happen. So I've. I've got no other motivation than to say to you, take advantage of the opportunity, especially if you're in the position to do it. Don't let fear make you put. Put it aside. You know, find people that know what they're doing, surround yourself with a good team of people, and then move forward. I think you're going to be in a great position.
You know, take. Take 10 years from now or, you know, maybe 20 years from now, but you're going to make the decision decisions now to do that. Like all the decisions that I made 20 years ago, I'm benefiting from today. All the decisions that I made three years ago or four years ago with these refinances on the apartment buildings that we're doing, I'm taking advantage of them today.
Like, I'm taking advantage of all the stuff that I did before today.
But the only way to do that is take action and not let fear kind of hold you back from. From doing that. And I think that's. That's what's happening, you know, that there's a lot of fear, especially as an investor. Oh, the landlord tenant board is so bad. Oh, the tenants are so bad. Oh, somebody's going to take advantage of me. Like, surround yourself with people to help you. That's. That's what you want, is to develop that team, to be able to help you and, you know, take advantage of where we are. It is a challenging market, but if you're a buyer, you. You're in a great position, you know.
[00:33:11] Speaker B: Well, let me just ask you a question. Let's be 100% practical. And the way to do this, right, the way to do that, move forward without the fear is to. Is to probably find a good neighborhood, right? And then when. When you do that, if you were to use your cash flow, you know, analyzer, and you're coming up positive, okay, that takes a lot of the fear and a lot of the questions out of being able to move forward on the purchase. Now, in your opinion, somebody new, and this will be the last thing that we talk about today, but what should they be looking for as far as cash flow goes? I think to be safe and, and be comfortable moving forward. So it's not like, yeah, cash flow Is a dollar perfect?
What, like, what would it be? Let's say someone's buying like a small little duplex. Like that's usually what people start out with.
[00:34:07] Speaker C: Yeah, I would say that like 3 to $500 cash flow was good at the beginning. It gives you a lot of extra room, especially if you've included, you know, property management, maintenance, repair, vacancy. I think, and I really think that that's doable in today's market. I, I've, I, I'm. There was a triplex that I was seeing that was, this was in, I think it was in Midland or wasaga beach that my, one of my buddies have and he's listed it for like 650 for a triplex. And it's like cash flow positive right from the get go. And we're talking like probably close to about a thousand bucks.
But I mean like that's where the market is. He's an investor, he knows that's where the market is. But it's still not moving because there's just, there's no buyers.
So, you know. Yeah. Make sure that you're underwriting it. Underwriting it correctly. Definitely is. And if you're not sure, like, reach out like, you know, like I, I do a 15 minute call for free.
[00:35:12] Speaker B: You know, tell us about that. Quentin.
[00:35:15] Speaker C: Yeah.
[00:35:15] Speaker B: How can people reach out to you?
[00:35:17] Speaker C: You can go to Quintindesouza.com book book a 15 minute call and you know, talk real estate and you know, whatever.
[00:35:27] Speaker B: Dig down on some of these things that we've talked about a little.
[00:35:30] Speaker C: Yeah.
[00:35:30] Speaker B: For a few minutes anyway.
[00:35:32] Speaker C: For a few minutes. And then that way at least you can get an understanding of what's going on. I, I've been working on this, this really cool spreadsheet that is a predictor of what like you put in some variables. You can stress test your portfolio, but you can also see what the future values are like, what your mortgage pay down is, what the net profit worth is based on your portfolio. And it's very eye openening for people to see.
So. And it, it cost me quite a bit to put this together and I'm going to be making it part of the membership next fall. But I've been working on just like visualizer tools for it. So it's going to be, it's really cool. I'm, I'm very happy.
[00:36:13] Speaker B: Sounds like it.
[00:36:13] Speaker C: Yeah, I'm very happy with it. So anyways, it's stuff that I'm working on and also like I said, if you want to chat about underwriting something. You need some help?
15 minutes. Quintenges.com Rob, how about you? What's the best way for people to, to reach out and get in touch with you?
[00:36:32] Speaker B: You know what? I was thinking about this and I think that I, I should probably be sending people over to Point Break Homes, Costa Rica on Facebook. That's probably the best way to reach out to us and then you can see some of the stuff that we've been doing down here and, and get a better idea of, you know, of different thing, different options that we've got going on. So, yeah, that's Point Break Homes, Costa Rica on Facebook.
[00:36:56] Speaker C: Awesome stuff. This has been great. It's good catching up and talking a little bit of what's happening right now and hopefully we'll help get a couple people off the fence and making some good moves to improve their, their lives and, you know, their family's lives, so.
[00:37:14] Speaker B: Excellent. Well, thank you again, Quentin. We'll talk soon.
[00:37:17] Speaker C: Awesome. Thanks, Rob.
[00:37:18] Speaker B: Bye.
[00:37:19] Speaker C: Bye. Bye.
