Episode Transcript
[00:00:01] Speaker A: If you're looking for the skills and.
[00:00:03] Speaker B: 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.
[00:00:13] Speaker A: To the life that you want to.
[00:00:15] Speaker B: 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.
Welcome back, everybody. Thanks for joining us again today. Excited to have some new guests, new info, and of course, Quentin d' Souza is here again to share his knowledge and wealth, like vast wealth of real estate investing knowledge with all of us again today. So I'm really excited to have you here, Quentin.
[00:00:48] Speaker C: Thanks, Robin. You know, we have Rob Break again, you know, coming in from the beautiful Costa Rica along with our guests, actually. Yeah, that's, that's kind of cool.
And it's going to be a great episode. It's good to have you. Rob, what are you working on in Costa Rica?
[00:01:08] Speaker B: Actually, it's kind of a slow period right now. I don't have a whole lot going on trying to boost the real estate business, which actually has sort of come back over the last month. You know, it's actually very slow during the beginning of the year when it's normally busy, but it's starting to, it's coming to a little bit of an uptick right. Right now. So that's good as far as that goes. And then of course, we're just managing the hotel, you know, Manta Ray Lodge that we have in play Hunal. So that's always ongoing.
If anyone wants to check that out, you can go to mantaraylodgecr.com and see the website for our hotel. And if you're planning a trip, maybe, maybe you could stay there or stop by or whatever and say hi.
But as well, everyone should go over to Breakthrough, reipodcast Ca. We got a new website and it's got all the same old info, just a fresh new look.
And you can go over and get in touch with all of our past guests and listen to all of the past shows over there and then go over to itunes and, you know, write us a review.
I think there's a bunch of people that, that haven't done that. So I know I say this every time, but if you haven't, please go over and share what you actually think of the show.
It doesn't take long and it really helps us out. We've got a good number of reviews, but they have definitely dropped off over the last little while. You know, So I think that that's just because people are busy, Quentin. But I'm telling you right now, it doesn't take long. It doesn't take long. Go over, they make it super easy. And then you can just write like I like Rob, but maybe get rid of Quentin or whatever it is that you're thinking of the show.
[00:02:52] Speaker C: So one thing I wanted to, to mention about what, what I'm working on is we've got four refinances that we're doing on apartment buildings over the next few months. So I'm trying to get that all together, try to get my annuals in for all the apartment buildings. So we have, with all the financial institutions that we work with, we have to do an annual review and we, we pay them to do an annual review for us. And so that takes time to get all our documentation together, all our apartment building financials together and then we send it off and get that done. I've also done a deep dive.
I spent I don't know, probably about 10 hours going into MERB.
So back in the 70s we had multi unit residential benefit or something like that.
It was a program that allowed for the creation of about 2,200,000 units in Ontario. And it was a previous Liberal government that had, had started it while this last election it was on the platform. So I was trying to figure out what exactly it would look like and how it would affect us as current real estate investors.
So I, I've got about 10 hours into that and 10 hours into it. Yeah. Really like, yeah, because the, the research is like all archival. Like you can't find people alive who like I've been trying to find, you know, developers and stuff like that. It's hard because we're Talking about the 70s, right. And so that means they would have to have been a developer in the 70s. So they're probably in their 70s or 80s at the.
[00:04:40] Speaker B: Yeah, at the youngest.
[00:04:41] Speaker C: At the youngest.
So it's, it's definitely been a challenge to find those people. But I do, I have been able to find research, especially cmhc put out some good research.
So I've been going down that rabbit hol and just like high level, I think there's going to be some definite effects of real estate investors in Canada, particularly those who are an existing owners of real estate because of the number of units that that could be possibly created. The thing is that there is a bit of a delayed effect.
So the, just because you implement the program, it takes, it's going to take two to three to four years. For the implementation to take place, to start seeing anything. Yeah, and that comes from awareness, but also like from the development process takes a while. But the interesting thing about the way that the program worked was that it provided an opportunity for investors to take any losses that they had on the development of new units.
So if you were to develop new units and there was some losses that came from that development process, you could use those losses against your current income.
So that means that you would pay less tax.
So for high income earners, it would be the ability to actually reduce their, their taxes while investing in a project.
So that, so the implications could be for a lot more units. But then I was looking at what kind of units were being created from this program.
And so a lot of it seemed as though the unit types that were created were more higher end units. So not, you would say like lower end units.
People who have like, I would say maybe they're approaching middle class or blue collar in their, their tenant profile.
You're, you're more looking at, you know, white collar type of units.
So that's what I, I noticed. But what ends up happening when you have any sort of development, right, is that the units that were once higher end, they come down into the, the lower end. So everybody's vacancy gets pushed down.
Sorry, pushed up. So you ended up, you end up with a little bit of higher vacancy. So I think what we'll see is definitely more challenges on, on rents over, over the long term, maybe not in the short term that two to three years, but over the long term as more and more projects come in, if indeed this actually takes place at all. Right. Because we're talking about the government and promises.
[00:07:34] Speaker B: Well, I was gonna say, I was gonna say that basically, like, I mean, realistically, it's only going to be that program because of the name. Like I would imagine there's not going to be much other similar similarities to what it used to be. It would be like a reformed version with the same name. So it'd be very hard to say how that would look.
[00:07:58] Speaker C: I mean, until we see the budget, it's hard to tell. I, I don't think politicians are really that smart, so.
[00:08:04] Speaker B: And then you're just saying, Quentin, you.
[00:08:05] Speaker C: Just end up doing the same thing, right?
[00:08:07] Speaker B: Like, yeah, but you're just saying if you are a developer, just get a really good account to show a loss because obviously you're not going to be building like for a loss.
[00:08:16] Speaker C: No, no. But what's interesting was how they, they did it. Like, so there was a lot they Were showing how it became a tax shelter for certain classes of people who are like higher end investors. Because what, and the developers themselves, because what they could do is they could use soft costs in order to increase the losses in some given years. So for example, costs could be developer wages, it could, it could also be like lease up fees, it could be interest on the development process. So all of those soft costs, there are some ways that you can, you know, take a lot of those earlier versus later and bring things forward so you can bring losses forward quicker. And that could be very lucrative for, for certain people who have high income and high, high taxes. So if you're, you know, if you're making over 200,000, your, your tax rate is going to be different than somebody who's, you know, earning 60,000. And that person who could invest in a project would do so in order to increase their income and reduce their, you know, their, their taxes that they pay. But in, and in the end they're investing in a project. Now that project, you know, they are going to eventually pay the taxes on that when the asset is sold, but until it's sold, you know, they're going to have that benefit. So there's, it's, it's very interesting.
I, I think it is going to be, if it were to be implemented, I think that's going to be a game changer. And then they have a new department that they're creating outside of CMHC that's supposed to be focusing on development and funding it with billions of dollars. And we know how the development works in with government, right. Like it costs, costs millions of dollars and not a lot comes out of it. So I'm not, so I, I don't think that's going to work as well as the, you know, that MERB type of program. But we'll have to see, right. Until then announce the budget. We won't have any idea. Right. So, and I mean I'm, I'm like, I'm, I'm really focused on how this is going to affect investors because of myself, right. I'm, you know, I've got 580 units in Ontario. I'm, you know, I want to know.
So I'm going to keep going down this rabbit hole and I'll, I, I'll report back on future podcasts of what's going on and get some updates at Durham REI meetings as well.
[00:10:54] Speaker B: All right, that sounds good.
Hey, if you haven't heard of it, I know we don't really push this that much, but go to Durham rei. It's the first Wednesday of every month. Right.
[00:11:03] Speaker C: Second Wednesday.
[00:11:04] Speaker B: Second Wednesday of every month, except for July and August.
[00:11:08] Speaker C: Yeah. Then we end up going to the bar. I mean, we have networking events.
[00:11:14] Speaker B: Right.
[00:11:16] Speaker C: I want.
[00:11:16] Speaker B: Okay, one more thing before we get to the guests. Real quick, if you can answer this, because you mentioned that you were refining for buildings, but there's different reasons for doing that. So can you quickly tell us what your reasoning is for doing it?
[00:11:29] Speaker C: Sure. So I have partners on all of these buildings.
Usually my goal is within three to five years to pull out the capital that we initially injected into the projects in order to purchase the buildings and get to that process.
So at this point, what I'm doing is I'm refinancing, financing the buildings to give back the capital to the partners. And. But we, we're still going to own the buildings. Right? Okay.
[00:11:55] Speaker B: So these are forced appreciation refis. Not, not. Not just because you've owned them for a certain amount of years.
[00:12:02] Speaker C: And these.
So one of them is. Is own them for a number of years and I'm just taking more money out. Three, Three of them are for pulling capital and repaying the initial investors. I think, like, when we took out some of this capital, it was a. It cost us less to get it. So, like, interest rates were close to 2, and now interest rates are going to be closer to four. But we've, we've been able to pull up the value of the buildings enough so that I think we're going to get at least 80 to 90% of the capital back. And then, you know, we're going to continue to own the assets and then we'll refinance again in three to five years. Like, that's. So it's a little different game than the one to four units. Like my one to four unit properties, I end up, you know, cash flowing more on them, refinancing them sooner, different times for different reasons. But with the apartment buildings, I tend to not take a lot of cash flow from them every month, but I tend to do more refinances. And so this is what, like, normal process for me is every year working on refinances on buildings to pull capital out either to repay initial investors or to take capital and then redistribute amongst the partners, even if all the money has been returned.
[00:13:25] Speaker B: Right, Very good.
Love that.
[00:13:29] Speaker C: No problem.
[00:13:30] Speaker B: Well, let's get to our guests.
[00:13:33] Speaker C: Awesome.
[00:13:34] Speaker B: Very, very patient with us.
So I appreciate you guys coming on. I'm very excited to have Dave Bethune and Lisa Ewey really excited to have you guys on and I've known you guys for a couple of years now and you know, you were like just the nicest people that I've ever met and really enjoy knowing you guys and so I thought it'd be nice to hear about your journey because I only really know the Costa Rica side of things because you guys are in Costa Rica with. Well, not with me right now, but just down the street. I could probably walk to where you guys are in what, 10 minutes? Yeah, so.
So I'm just happy that you guys took the time to come on. So thank you.
[00:14:19] Speaker C: Yeah. And I'll do a bit of an introduction so we get an idea. So Dave Bethune, he's a real estate investor, territory manager, basketball coach. He's self motivated, architect of free time. I love that.
Thrive in flexible environment solution focused, works well in groups. Is an 11 year real estate investor. Multiple strategies including conversion, forced appreciation.
12 years of sporting good connecting grassroots to post secondary schools with global brands to represent and advance their programs and work at national and community levels and focuses on consistent growth year over year.
Passion for sport and development camps programs, community and nationally and then Lisa Huey is passionate about life, home community and the power of effective stories that bring strategy to life. She's a trusted communicator whose worked on the narratives of global brands for more than 25 years. She's currently a communications manager responsible for leading, steering and ensuring the implementation of renowned global retailers integrated community communication agenda. And she her portfolio includes internal and external community communications. Oh, it's so bad when I say communications. Wrong.
She manages a resource pool of six communicators who deliver compelling initiative initiatives supporting the company's omnichannel growth and brand positioning priorities. So wow, with all that maybe you can tell us a little bit about yourselves and how you got started in this whole real estate thing.
[00:16:04] Speaker A: Sure, I can jump in here. We got started.
You know, I was always curious about real estate but as many people, you know, you're kind of interested in real estate but you don't know where to start, how to begin, how to jump in, you know. And I'd been doing some, you know, I'd heard or been connected with some people that were using real estate as a way to I guess support retirement for those that might not have pensions and things like that. So that's what kind of intrigued me at the time is I was an entrepreneur. I had my own business for about 12 years running a sporting sports apparel company.
So I was looking for something that might be able to help support me through my retirement as being an entrepreneur. So I started to do some research.
I joined a group called RAIN, and I attended their meetings just to try to learn a bit more, be around some people that were in it daily and heard all the stories and learned about the different strategies to a certain extent.
And as I was going to these meetings, I'd probably been going for about eight months, I think there was a booth set up at the back that had.
I guess it was a new development that they were trying to sell some of the units up in Orillia.
And so, you know, every week I would see the booth there and, you know, or every month whenever the meetings were. And then finally I just went and connected and spoke with somebody there, and they kind of told me about the project and what was going on. And it seemed to be something that was really easy. They made it sound very easy, almost too easy. It was very turnkey.
They were showing us a unit that was just fully renovated and had a tenant, had a year of property management.
And, you know, I went back and spoke to Lisa and, you know, kind of told her what was going on and what I was seeing, what I was doing. And then we eventually just pulled the trigger, not really knowing a whole much more about it from the ground. I kind of knew the theory of how things were supposed to work from the RAIN meetings, those kinds of things, but I really didn't, you know, at the time, I probably didn't really have a mortgage broker. I probably didn't know how have all these things in place. And we just kind of jumped in and it went quite well, to be honest. It actually went so well. It was like, oh, this is easy. Let's do another one kind of thing. So.
Which, you know, that was the beginning of the path.
And of course, as all these things, you run into challenges and you learn as you go, so. But that's how we kind of got into it. That was back in, I think, 2014. We bought a townhome in Orillia. That was our first property. We still own it today.
It's done pretty well for us, for sure. And, you know, from there we were able to catapult and build.
Build our portfolio and try different strategies, invest in different markets now as well.
[00:19:01] Speaker C: Awesome.
What. What type of markets, if you don't mind me asking?
[00:19:07] Speaker A: Yeah, so we have. We're in Hamilton as well. We have a couple of properties in Hamilton, and we also have a couple of properties in Welland, Ontario.
Okay.
[00:19:17] Speaker B: I. I find it interesting that they were Selling a, a development that already was tenanted.
[00:19:25] Speaker A: Yeah, we lucked out. So it was like one of the, I think there was, there was several units up that they were selling, but I think this was the one they didn't, they weren't all tenanted. So this one, I just, we just literally lucked out. They just said, hey, this place has already got a tenant. They've been living there since, you know, the project went live.
And we were just so it made it super easy for us because they were in, they were great. We had those tenants for I think five years.
[00:19:52] Speaker C: Wow.
[00:19:53] Speaker A: Five or six years.
And you know, they were, you know they were, they enjoyed living there. They loved it. I think they, and they were, they were old, they were older.
So I think at some point they had, they were looking to move into something that was, had less, less stairs and that kind of thing. But.
Interesting.
[00:20:11] Speaker C: Yeah, I, I remember I was in Rain too back in 2008, I think till about 2013. So I might have just missed you. But I remember I think out in a really.
Jules McKenzie was like really big in that area. I don't know if you remember him, but no, his, he seemed, he seemed to really grow out in Aurelia in that area. But I remember, you know, Don Campbell and you know, it was, it was always a, you know, really good, inspiring message and long term thinker in real estate. So definitely, you know, I think that fundamentally set you off in the right direction.
[00:20:54] Speaker B: Yeah, absolutely. I think there's one thing that's in common with everybody that comes on the show and the way that they start is going to try to learn how to do it right at these meetings where people have already done it before.
[00:21:08] Speaker A: Yeah, I think that the, the like at that time, I know it really was popping up on their top 10 list. I know if you're familiar with Rain, they had their top 10 list.
And so that was also kind of a little bit more comforting that outside of everything else that we were doing that Aurelia was, you know, gave us the insight to investigate it a little more.
[00:21:28] Speaker B: Can we, can we be a little more nosy and find out like, okay, what is it? Was it a two, three bedroom townhouse? And what did you pay for it? Do you remember?
[00:21:38] Speaker A: Yeah, oh yeah.
It was a three bedroom, three bedroom, one bath town hall with a garage.
And in 2014, I think we paid 235.
Wow.
And that was through poolist investment. I don't know if you're familiar with that.
[00:21:58] Speaker C: Oh, I know, I know. Post Kyle and His dad before, right?
[00:22:02] Speaker A: Yeah. Yeah. So that's who they have interesting back of rain and that's. So that's who.
And I kind of went by there and I was just like, oh, I don't really know what I'm doing. And they just kind of walked me through, through the whole process. And then I went out and saw the property.
[00:22:15] Speaker C: I think I remember them. They. So they bought the whole complex and then they sold off all the. The townhouses individually. So they bought it wholesale and they. They sold it individually.
[00:22:26] Speaker A: Right.
[00:22:27] Speaker C: So how did you do on those, on that townhouse, since you still own it? What do you think it's worth?
[00:22:34] Speaker A: The last ones I saw, like, I don't think nothing sold recently from there. I think the last ones I was seeing back and I think one sold in July for maybe just over five or around five.
And then there was other ones in about the 475 or, you know, on the high fours.
[00:22:53] Speaker C: Yeah, you've done really well with those. That's. That's really good. Yeah.
Compared to what you, you know, purchased it for and what, what you probably put down for it, you know.
[00:23:04] Speaker B: Yeah, exactly.
[00:23:05] Speaker C: And you probably. Cash flow well too on it now.
[00:23:08] Speaker A: Well, yeah. Yes. Yeah. It's like I said, it's. It's doing well. It's doing well for us, so.
Good.
[00:23:15] Speaker B: Okay. And then what, what was the next thing, Lisa, maybe you can tell us about where you went from there.
[00:23:20] Speaker D: Well, I was just going to jump in and say that, you know, it was the, the starter project that really helped us kind of put into practice all the things that David was hearing in the meetings. And so it was a great boost of confidence. And so then the next opportunity was actually a triplex in downtown. Actually, I lie that's what we're still holding on to. We did a single family home on the mountain in Hamilton.
Is that right? I think was the next one.
[00:23:59] Speaker B: Yeah.
[00:24:00] Speaker D: And then a triplex downtown. I think we. It boosted our confidence enough that we were starting to do sort of a project a year for a few years and trying different strategies. I think almost we realized a few years into it that each project was a slightly different strategy just to see how we could stretch our resources and.
[00:24:31] Speaker A: Yeah, yeah, make the numbers work. Make the numbers work was like the other thing that kind of. When we were evaluating some of the strategies and things like that, we were always trying to make sure things made sense financially as prices continue to rise. So.
[00:24:46] Speaker C: Right. So from a cash flow perspective and then like based on the debt that, that you're Incurring on the property?
[00:24:52] Speaker A: Yeah, correct. Yeah, along those lines.
[00:24:54] Speaker B: So, and now were you doing anything? Like, were you just buying and holding, or did you do some renovations in places to force appreciation? What kind of stuff were you doing?
[00:25:05] Speaker D: Well, I think at the beginning it was a lot of. I think that the original strategy was buy and hold. Right. Like our kids at that point were school age quite young. It was, hey, this will help us to afford school. And, and, you know, projects down life strategies down the road. And then, then we started to take on different opportunities. Right.
[00:25:33] Speaker B: So what was like the first project property that you took on?
[00:25:37] Speaker A: So the first, the first project. So we were able to.
Let me see if I'm gonna get this right. So the second property that we purchased, Elisa just mentioned, that was on the mountain. We ended up selling that and taking the proceeds from that as the down payment on a bungalow on the mountain.
And that was our first project. So with it from that, it had a basement that was kind of set up for in law suites, but it wasn't. Wasn't legal. But everything was pretty much in place. Like, there wasn't a whole lot of work to do to us. I think at that point we invested, you know, maybe $30,000 or whatever it was to get it to the point where it would be a legal unit. And we turned that bungalow into a duplex. And that was our first kind of, first kind of experience in terms of.
[00:26:33] Speaker B: Very good. I love that too. You know, even if you're set up for one now to legalize, like to legalize something in the basement. $30,000 I don't think is going to cut it anymore.
[00:26:43] Speaker A: Oh, no. Like I said, we didn't have much to do there. Like, there was like, you.
A couple of separation walls. We closed off a stairwell. We. We didn't have to do anything upstairs, so the upstairs we didn't have to touch.
We put in a meter.
[00:27:00] Speaker D: Beautiful windows. So it's a basement unit, but lots.
[00:27:03] Speaker A: Of light, lots of light.
So it was really, again, it seems to be how things work. We're like, oh, that wasn't as bad. That wasn't as hard as I thought onto the next. And then, you know, as the projects get bigger, they, you know, the problems also get bigger.
[00:27:17] Speaker B: So, so, so that one worked out well, though. Did you go back and refinance, try to get your money out and all that stuff?
[00:27:23] Speaker A: So we got them. Yeah, we did refinance it when we were finished the project and we're able to pull out the money from the investment and things like that. And then. Yeah, we still hold that one today.
That one might even be on the mountain. That one. That might even be our best performing one right now. Just because we've had it. We've had it for a while now. I think it's. We've had that for six, six years or six or seven years. I think I want somewhere in there.
So.
[00:27:49] Speaker C: Yeah, so you bought. So, you know, 20, 18, 19.
Were we talking about like 250, 300,000, something like that?
[00:27:58] Speaker A: No, it was more than that at the time. I think it was probably, if I remember, I think it was probably just around five, five.
[00:28:07] Speaker C: Okay.
[00:28:07] Speaker A: And then the height of the market. I remember I was checking when the froth was at its highest point.
Comparables around in that area. We're going for about anywhere from 900 to 1.1 kind of thing.
[00:28:21] Speaker C: Yeah.
[00:28:21] Speaker A: So it's probably come off a bit from that now, but interesting. It's still, it's still a good, it's a, it's a keeper for sure.
[00:28:30] Speaker C: Yeah. So a bit of cash flows? Well, I'm sure, yeah.
[00:28:33] Speaker A: Yes.
Yeah, that's good.
[00:28:36] Speaker C: So what's your goal then? Is your goal to continue to grow your asset base or to pull the cash flow from your properties? Because it sounds like you have a lot of equity that you've built up in these, in these properties.
[00:28:56] Speaker A: So there's multiple answers to that question.
So, you know, I think the goal was originally, and Lisa, you can correct me if I'm wrong, but it was like, again, we were looking for a way to support our retirement and make sure that we had, you know, I've always been big on, you know, having choices and having options. And we were looking for ways to help facilitate that we could live the lifestyle we wanted to and have the, you know, the freedom to choose who and how and what we wanted to do. So that's.
And also, you know, something for our kids that we could, you know, if they so choose something that we could leave for them and a legacy that they could continue to bring, move forward, you know. But as, you know, as you get into things, things, you know, your things change and, and, you know, so I think we were at a point where we wanted to grow the portfolio to a certain size.
And then, you know, me, I was always like, yeah, we're going to buy a property a year for the next 20 years kind of thing, you know, but then, you know, Lisa would be like, you know, let's make sure that, you know, what we're doing here is matching with our long term goals that we're not just trying to get caught up in the, you know, how many doors do you have and what you're doing? And that kind of.
[00:30:09] Speaker B: Right. It's like, I only got a month left. I need to buy that one this year.
[00:30:13] Speaker A: Right.
[00:30:14] Speaker B: Get whatever, whatever one gets sent to your desk. Not always the best way to do it. Yeah, right, exactly.
[00:30:19] Speaker A: So we've, you know, so we've, we've.
[00:30:22] Speaker B: I don't want to say we pivoted.
[00:30:23] Speaker A: But I think we're just a little bit more conscious of what we would buy and if we need to buy. Right. And we always try to make sure that there's a reason, there's a purpose and we're not just doing it for the sake of saying we have 25 doors or something like that.
So I think, you know, yes, some of the properties that we've owned for quite a while have had some good appreciation. But we also had some projects that we did just heading into.
You know, I think we closed a property like the week covet hit and we were like freaking out, not knowing what was going to happen.
And then we also purchased another one in 2021.
Literally refinanced it like the week before interest rates started to rise. So we have those properties on the back end of our portfolio. So the front end of our portfolio is kind of, you know, performing because, you know, it's always about time in the market, not timing the market. So we've been able to continue to. Even though we have some more recently purchased assets that were probably at the height of the market. Again, those are long term assets that we plan to hold for a while and they, you know, the income that we're getting from them is pretty good. But also the expenses due to the interest rates and things like that are also reflected in that.
[00:31:37] Speaker B: Very good.
Did you have a question, Quentin? Because I.
[00:31:41] Speaker C: No, no, you go ahead.
[00:31:42] Speaker B: Well, I was going to ask. Now you said you got into bigger projects, like the next one was bigger.
So tell us about, you know, that one and some of the challenges maybe, and how you got through them.
[00:31:54] Speaker A: Sure, sure.
Yeah, I can speak to my own because again, I was usually on the front end of all the real estate stuff and Lisa was always on the back end kind of making sure that I stay in check and don't spin too far off the rails. But our last project that we did was our biggest. It was a bungalow in Welland on a huge lot, had a garage and it was a back split.
So the upper unit we Originally when we got it, we said, hey, we. The goal was to turn it into a triplex.
So we were going from a bungalow.
I think it was a three bedroom, had two or three bedroom, three bedrooms upstairs and then had room for a bedroom. It wasn't a bedroom downstairs. But we were able to convert it into a two bedroom.
And then the garage was really kind of like the selling feature. The garage actually could fit five cars.
[00:32:47] Speaker C: Wow.
[00:32:49] Speaker A: So we were able to build like a thousand foot, a thousand square foot two bedroom unit off the garage from the garage.
[00:32:58] Speaker D: Yeah, the previous owners, it was his workshop, it was just full and it's right around the corner from I think Niagara College. Is that right? Yeah, yeah. Real house proud folks, but very, you know, the bones were there, which was, which was exciting but definitely a much more substantial project. Right. To convert a garage into.
[00:33:30] Speaker B: A little.
[00:33:31] Speaker C: Yeah, yeah.
[00:33:33] Speaker A: Lots of learnings there. Like we learned in like even in the garage. Like, you know, we had to do some work that we didn't anticipate for the floor because they were just afraid that the cool air from the floor would always make the floor cold. So we had to like elevate and insulate.
You know, we had.
We actually ended up doing some more work on the main floor which we didn't anticipate. We were just going to leave it as is.
But at the time we were getting that the, the appraisals were coming back stronger when the main unit was updated and new.
So we took on that precedent. So he ended up, actually ended up with three brand new units is a three bedroom, two bath upper and then a two bedroom, two bath basement unit and then a two bedroom, one bath garage unit unit along with a massive backyard where if we wanted to put an ad unit in the backyard, we could probably do that as well.
[00:34:33] Speaker B: Now is it set up so that you've kind of separated the two, like the garage from the other one? It's sort of its own place or how is it set up?
[00:34:41] Speaker A: Yeah, it says it is its own unit. It's its own separate own unit. So it has its own meter, it has its own H vac, so it is an independent unit from there. So, so you know, all three units. We metered all three units. We do have another gas line going in so that the main house has the gas line for the two units and then the garage unit has its own gas line.
[00:35:06] Speaker B: So it's essentially its own property. Is there a way to sever it off?
[00:35:11] Speaker A: No, because the garage is.
The garage is actually attached to the house.
Okay, so it is attached to the house, but, you know, we closed off the entrance, obviously, and all that kind of stuff, so that. That it's independent from the.
From the main unit.
[00:35:26] Speaker B: I see. Okay.
[00:35:29] Speaker A: So we're pretty fortunate with that. We've had great tenants.
You know, I think between all three units, there's only like five people living there. So in terms of wear and tear and things like that, we've been really fortunate that it's been well maintained, brings in good income and.
And, you know, something that we look forward to holding for the long on.
[00:35:51] Speaker C: It's interesting. And so, I mean, obviously you've had lots of success in, you know, what you've been doing here with the. With your projects in Ontario.
Do I. I'm curious. Like, I wouldn't talk to Rob about this, but I'm curious, what are the projects that you have in. In Costa Rica or can you talk about that?
[00:36:13] Speaker A: Sure, sure. I'll let these.
[00:36:16] Speaker B: Really. A project. They just bought a vacation home and it's an Airbnb. Right, Exactly.
[00:36:20] Speaker D: I was gonna say it's very much a lifestyle purchase.
[00:36:23] Speaker C: Okay.
[00:36:24] Speaker D: That for me, it feels like this was the prize through all of the years of the last decade's work. Right.
That enables us to.
Right now it's twice a year come down. Sometimes we'll work remotely and vacation. Sometimes simply vacation.
The goal is to extend the periods of time that we're down here and you know, not dissimilar to the kind of luck of our very first property where we kind of knew a little bit and the timing worked out. It seemed to be a great deal. Let's try.
I think it was very similar right here. We thought, oh, well, we were vacationing and we said, let's sure, let's go and see a few things to see what our limited resources could afford us.
So we went and looked at what we see. Three, I think maybe two or three properties.
[00:37:30] Speaker B: That's all you guys saw? Two or three?
[00:37:32] Speaker A: No, we saw more than that. We saw. I think.
[00:37:34] Speaker D: Did we see more?
[00:37:35] Speaker A: Three or four, maybe? I think. I think we saw like three or four. Yeah.
[00:37:39] Speaker D: Anyways, it was meant to just be our homework to just understand the market. And then, you know, fast forward. I think it was maybe three months.
Then we.
Yeah. Have a little condo here, one and a half minute walk from the beach.
[00:37:54] Speaker B: That's. Yeah, that's amazing. It's very close to the beach. And I mean, I'm sure you guys know this, but like right now there's a unit. Now it's higher up in the building than you guys are. But it's.
It's 200 grand more than you guys bought your place for.
[00:38:11] Speaker A: Oh, isn't it?
[00:38:12] Speaker B: It's 200 grand more.
[00:38:14] Speaker A: That's great. I don't know, but I've heard something. But it's.
[00:38:16] Speaker C: It's.
[00:38:17] Speaker A: Yeah, it's significantly more. It's close, I heard. Yeah. Yeah, I guess you're right. It is.
[00:38:21] Speaker B: It's more than that, I think.
[00:38:22] Speaker A: Yeah. Yeah, I think.
[00:38:25] Speaker C: And you. And you rent it out as the Airbnb as well, for income?
[00:38:28] Speaker A: We do.
[00:38:30] Speaker C: And does it cover all your costs?
[00:38:33] Speaker A: To be determined, yes.
So it depends on how you define your expenses. So just to circle back on the story, it's just kind of like the story of us getting down here was.
If I can just elaborate on that a bit, because I think it's just a bit of an interesting story, but after Covid, we were pretty determined to find a place outside of the city.
And we always had two schools of thought of something that's close that we can get to frequently or something that was nice. Hot and warm in tropical. Tropical.
So at the time, we opted to check out cottages locally, and we ended up in the Quartez. And we. We couldn't find anything that was remotely without doing work that was under like 700 or 800. We're just like, this is ridiculous. And we decided to look tropical looks, looks for something down south. We did a little bit of research. Costa Rica kind of popped up, and I had, like, another friend mastermind group that I worked with, and I told them all, yeah, I was going down here.
We didn't know anything about it. We just literally picked the province of Guanacaste, found a town that we thought we could afford that was close to beaches, and we could get up and down a bit. And I was linked through a friend of mine to a friend of Rob's that said, oh, you should give Rob a call.
And it just turned out that Rob lived in the next town over in Potrero, and that we were going to be close enough and Rob was good enough to show us around to. To a couple of. Couple of places while we were down here vacationing. So that's kind of like how we got down here. And then when he showed us the unit that we're in now, I think it was under contract. Right. Like you were just saying, hey, this might be something that you'd be interested in if it was available, but it was under contract.
So we were like, oh, this would be perfect. This would be exactly what we're looking for. It's furnished because some of the places we saw were. They were possibly affordable, but they weren't furnished. You'd have to buy all the furniture and do all that stuff. Stuff. And we really didn't have much interest in that at the time.
So we went back and kind of had our notes and our homework, and then I think, what was it? Maybe two months later, Rob called us. It was like the deal fell through.
If you guys want it now before it goes on the market, we can do it now. I was just like, oh, my gosh.
And so we had to kind of Scotch tape, bubblegum our way to get. Get things organized very quickly to kind of secure the property. And then once we did that, you know, we went through the process of trying to finance. Finance the rest of the purchase.
[00:40:50] Speaker C: So you must have learned a lot from that.
[00:40:53] Speaker B: Yeah. So what have you learned and what kind of, like, issues. Challenges have come up through that?
[00:41:01] Speaker A: I, for me, I think, listen, might be a little bit different, but for me, it's funny because, like, a lot of the things that I've learned for real estate and investing in real estate and owning properties back in Canada.
[00:41:15] Speaker B: Although.
[00:41:15] Speaker A: Some of them might apply here, it's. It's different.
It's. It is different. It is different. So everything. It's not like I could export all my knowledge and all. Everything I know about investing in real estate and even what I know about Airbnb here is just slightly different than what was there. So we, you know, some of the challenges, there's things that, you know, especially being close to the ocean, you're, you know, you're. You have to be aware of salt erosion and. And you got to replace things more often. And, you know, because it is Airbnb, you know, we're. We're, you know, you have to make sure the place is fumigated to make sure, you know, bugs and things. Just making sure that the place is kept nice and things like that. So you just. You learn about some of these things as you go, and just things that you didn't. You didn't have to necessarily account for or you don't have to account for in Welland or earlier, or. They're just different things anyway, you know, so those are some of the things that we've learned being here.
[00:42:10] Speaker D: What about, say that the people piece is all. Is always the, you know, the dynamic variable, right.
[00:42:18] Speaker C: Like the people that you're dealing with down there.
[00:42:22] Speaker D: Both. It's. It's getting to learn.
You know, neither of us speak Spanish fluently, so that's. That's a reality.
But, you know, at home, it's in Ontario, it's. You're hopeful that you secure great tenants.
We've been very lucky. But still, tenant turnover is always a challenge down here. It's.
Hey, if it's a vacation property, some folks are expecting the Ritz Carlton regardless of where they are staying. Right? It's their vacation. Maybe they've saved up all year or whatever, but the expectation needs to be at a certain level. Whereas other folks, you know, they're. They're travelers and they're passing through. And so every amenity is amazing. And so we're grateful that we've secured lots of great reviews, but you just. You don't know what you're going to get.
[00:43:18] Speaker B: Yeah, I guess you're right there. You know, I mean, the place is beautiful, and so I can't really understand that kind of thing. But it does happen all the time where people come in, they're expecting something different for whatever reason. It's like the things you would never expect to hear as a. As a. As a complaint. Do you have a complaint that maybe you would never expect, but I wouldn't.
[00:43:43] Speaker A: Say it was one wouldn't expect. But we had a complaint where they were like, the pool is dirty. They've made a big fuss about the pool pool being dirty.
And so we, you know, we went through it with our property manager and like, you know, around the pool there are trees and tropical trees and palm trees and things like that.
And, you know, it was like a few leaves had dropped into the pool. There's a skimmer there. We do have people that come and clean the pool, but we, you know, we expected it to be like, oh, my gosh, there's like dirt or something. But it was literally like the pool needed to be skinned and the person was just like, freaking out.
You know, we had a person that couldn't figure out how to turn on the barbecue that was out back. So our property manager, I think he came over two or three nights in a row to light the barbecue for them for meals.
And so just, you know, anyway, these.
[00:44:33] Speaker B: Kind of things, those times, we haven't.
[00:44:36] Speaker A: Had anything too, too major than that.
I think at one point we bought a fire stick. So we thought people. People wanted to, you know, access their Netflix and things like that rather than have cable because, you know, you know, a lot of.
But then we had, you know, some Spanish tenants that were staying over, I can't remember, or some local Costa Rican tenants. And they were like, you know, where's the cable tv? Like, we need cable tv.
[00:45:02] Speaker B: Like, this was right for sports or something. Most likely. Yeah. Right.
[00:45:05] Speaker A: Whatever it was. So we had to actually go back and connect the cable TV to make sure that we're. We're accommodating to the locals that want to stay when they come for their.
[00:45:13] Speaker B: Oh, boy. You're way more accommodating than me. I would have said. I. I honestly.
Maybe. Maybe you're right, though. Like, maybe I need to take a. I'm not saying I'm right. I'm just saying what I would have done for sure is said, I'm sorry, we don't have cable.
Yeah.
[00:45:27] Speaker A: That might have been our response if the property manager checked in with us before he, like, reconnected.
[00:45:35] Speaker B: So the property manager was the accomplishment.
[00:45:37] Speaker A: Dominating one.
[00:45:38] Speaker B: Like, I understand you got. You got local property managers, like, yeah, I get it, man.
Whatever the issue was, you know, I think we need to watch this soccer game. I understand.
[00:45:49] Speaker A: Yeah, yeah.
And I think the other thing, if you want to look at some of the differences, is like, even, like, we're purchasing furniture down here, that was probably, I think, the biggest.
[00:45:59] Speaker B: Why were you purchasing furniture? Just to replace some that you thought was worn out or.
[00:46:04] Speaker A: Yeah, we were trying to, like, when we first purchased, I think we were like, oh, you're just glad it was furnished. And this is our place, you know, this is our oasis. We don't. We don't. We're not too concerned about it. We're just happy to have a place down here. But then after you come up, you've been here a couple of times and you're spending more time, you say, okay, you want it to be your own. You want the furniture to be. Whatever your style of furniture, whatever the case may be.
So when we look to purchase the furniture and we were trying to make sure, you know, was wood, you know, whether it was the bed, night tables, and things like that. Now you have to. We were investing in something that would be quality, that would last, could manage the weather and things like that. You know, you're. Now you're looking at a particular kind of wood and having the beds made for you. And our beds, I think were made, you know, somewhere else, and we had to get them brought here. Just things that wasn't as simple as, like, some people might, you know, back home, you would say, hey, I need a bed. It's not ikea, or do something like that. Yeah.
[00:46:59] Speaker B: Nothing is simple. By the way, that that expectation should Be set right from the start. Because nothing is going to be simple here that you want to do. Some things are easier, but, like, you gotta know how to do it. It's like, agreed. So, for example, if you forget to pay your power bill, like your, your electricity bill, they'll just shut it off. Like the day that it's supposed to be paid by. If it's, if it's, if, if you haven't paid it by that time, they'll just shut it off. And so I'll come home every once in a while just because I'm not as diligent as I should be up on things and be like, oh, man, is it an outage in the area or is this because I forgot to pay? And then I'll have to go in and tether to my phone and try to figure it out. Oh, yes, I didn't pay.
So then once you pay online, you can just WhatsApp power company and say, here's my screenshot, I paid. And 10 minutes later they'll turn it back on.
So it's, you know, it's, it's just, Just some interesting things, right?
Andrew Quinton shaking his head.
[00:48:01] Speaker C: This is, this is crazy.
This is so crazy. I can't believe it. But it's interesting and I, I hope it's okay, like, if people can find your, your, your Airbnb listings, if we can include it with the show notes.
[00:48:17] Speaker A: Sure.
[00:48:18] Speaker C: That's okay. So people can. Because I'd like to, I'd like to stay down there when I'm, I'm down there and you know, so I, And I, I probably. Although I really think that Rob's hotel is quite nice. I would rather stay.
[00:48:33] Speaker B: Like, the hotel would not be for you.
[00:48:36] Speaker C: Yes. Okay, good.
So I would rather stay in your Airbnb, so.
[00:48:41] Speaker B: Oh, perfect sound.
[00:48:42] Speaker A: Sounds nicer, but appreciate, I think, you.
[00:48:46] Speaker B: Know, back closer to me too. Quinton.
[00:48:49] Speaker A: Yeah.
[00:48:50] Speaker C: Oh, my God.
[00:48:50] Speaker A: That.
[00:48:51] Speaker C: Wait, the hotel or the condo hotel is further away.
[00:48:55] Speaker A: Yeah.
[00:48:55] Speaker B: Wait.
[00:48:59] Speaker C: You know, okay.
[00:49:00] Speaker A: And I just. On that thing as well, we were talking about the differences is, you know, usually. And I know Rob, you're probably investors up in Canada and you're used to, like, timelines, things happening quick. You reach out to your trades and you're like, okay, you know, there on Tuesday, you're out by Thursday or whatever the case is. And, you know, down here just took. We had some work done, the building had some work done on the pool, and I just happened to be down here when the work was being done. And it's Just, you know, it's a different pace, it's a different expectations.
You know, I was freaked. I'm like, man, are these guys going to work today? Like they're just, what's going on? This is so slow. And then you know, someone's like, Dave, it's 40 degrees. Like you don't quite work. It's, you know, you can only work for so long in that heat at that pace. And I was like, oh yeah, that's a good point. That's a good point. So some of those things just move a little bit slower. You got to take some more things into consideration for sure.
[00:49:55] Speaker C: Can I ask you like about financing? Because my concern about like and, and it's not just Costa Rica. Like I've been looking at different places and one of the challenges even in like I've got property in the US and you know, one of the big challenges that I had was financing and getting financed as a foreign national.
I was, I think I was paying like 9 or 10% as a foreign national in the US and I was just curious.
Eventually I was able to get find portfolio financing that, that worked for me and I, I, and I got, got down lower. But how, how did it work for you or did you just like it, was it just a, I know it's a return on lifestyle, not a return on, in, you know, investment type purchase. So did you do financing or was it not necessary for this particular condo because of the, you know, for whatever reason?
[00:50:51] Speaker A: Yeah.
Do you want to answer? I can answer. You want to answer?
[00:50:54] Speaker D: I was going to say we, we sort of, we did the Jenga of our own financing to pay cash.
[00:51:03] Speaker C: Okay, gotcha. So this is the Jenga means taking.
[00:51:08] Speaker B: Pruning the, moving this and moving that. Yeah, gotcha.
[00:51:12] Speaker D: Yeah.
[00:51:12] Speaker C: Okay.
[00:51:13] Speaker A: Which we were able to do again when Lisa said it's the, this is kind of like the fruits of our labor of our investing. We were able to, you know, access the equity or the cash needed through, you know, our portfolio.
We tried to get Rob. Right. We tried to get financing down.
[00:51:29] Speaker B: I think you'd have more luck now. Yeah, but it's still tricky, especially for Canadians. I would say the terms are not good. I think that you'd be better off to find, to pull it out of HELOC or something.
What are the terms for Canadians, you're probably the best that I can find pretty much is maybe 25 year amortization.
It's close to nine and a half percent interest and then they'll usually want like it's only maybe 60% LTV, right? Yeah.
[00:52:15] Speaker C: But I mean it's possible to come back and do that after.
[00:52:19] Speaker A: Yeah.
[00:52:19] Speaker B: And I think that you guys, if it's something you want to look into, we could probably do that over the next.
Dave, you're, you're American, right?
[00:52:28] Speaker A: Yes.
[00:52:29] Speaker B: So it'll be, it'd probably be pretty easy for you guys to put a mortgage on that place now if you were interested in it.
[00:52:35] Speaker C: Especially if the values doubled or.
[00:52:38] Speaker B: Yeah.
[00:52:38] Speaker C: Changed because then your LTV will be higher than.
[00:52:42] Speaker A: Yeah.
[00:52:43] Speaker B: What you paid.
[00:52:45] Speaker C: I mean, may work out, you may be making money now. I don't know what's going on.
That's cool. So I, I'm curious like if you've done so many different things and you know, both in Ontario and in Costa Rica, like what's. What's next for, for you both?
[00:53:05] Speaker A: That's great. I think, you know, right now we're kind of just, you know, it's a very volatile for me anyway anyway and where the portfolio sits in my time that I can commit to these things. It's a pretty volatile time for us and we're just kind of one. We want to make sure that the properties and things that we have are performing the way we want them to.
And if they're not, then you might look, you know, look at some exit strategies to make sure, you know, that we're getting what we are, what we need to, from the portfolio. I think in the past I would have said not selling anything no matter what. So why do I have to worry about an exit strategy? Because we're never selling.
But you know, as time goes on and things change and you know, you gotta might be in a position where you need to consider other alternatives in order to reach your ultimate end goal. So I think, you know, we're starting with that to make sure that everything's on good, solid ground. We're not over leveraged or exposed to anything that we are not comfortable with.
And then I think for me anyway, you know, Lisa and I haven't talked much about where it goes after that, but I would pro, I would, you know, I would look at potentially some changing the strategy, maybe back to rent to own, where we're, you know, helping people get into their own home. But we have kind of like a defined exit strategy with an opportunity for maybe a little bit higher cash flow than normal on a, on a, on a residence also possibly something commercial. We were looking at or we were wanting to consider like an 8 Plex or a 12 Plex or something along those Lines as I like a flagship piece.
So now that Quentin, you said maybe some of those deals are a little bit more, the numbers pencil a little better because when we were looking but they, they really didn't. So we kind of backed out of that. But those would be some things that we were considering.
And at one point we were looking at the US as well as for exposure to the US dollar and things like that. But again, with all the volatility and the uncertainty, we're just kind of like waiting to see where things land and when we get to a comfortable position, we'll look to jump in.
[00:55:21] Speaker B: Lisa, what do you think? Is that around the same lines as your thoughts?
[00:55:26] Speaker D: Yeah, I mean, like, look, my role in this whole process is very much like I do the bird's eye view on how, how do the strategies fit with our goals for life.
And I'm always looking for how the projects fit in in a bigger context.
I'm thinking about, look, when we started, the kids going away to school was a way in the future. Well, now they're, they're almost finished.
So our priorities are a little bit different. And you know, I do want to be able to travel more. I want to have projects that don't demand a lot of attention.
And you know, it's not to say that we want to set and forget it all the time, but yeah, it's, it's a little bit of the, the context of life that I, I, I just want to consider, I think that we won't because of the vol. Volatility. I don't think that we get to go back to the, the set it and forget it.
But it's being sharp, I think, with, with the strategies so that we can move with speed. I think we've always wanted to be able to move with speed and it becomes even more important now.
Yeah. Because things are a little bit, a little bit more fuzzy.
[00:57:04] Speaker B: It is interesting because I've always been the, I've always, like this has been one of the things I've said more than once on here is that, you know, people will ask me all the time. It's like when, like I think I'm just going to wait and see what happens. And I've always said, you know, hey, when are you going to know if the thing that you're waiting for has happened? But it is kind of interesting because it kind of am on sort of on the same page as everybody's like, think right now might be a good time to kind of just, you know, see, see where things are Going, of course, you made a good point, Quinton, is that now might be a great time to start looking into commercial property.
Right.
But again, I'm always thinking on the same kind of strategies as what I've done in the past.
And so when you're not looking at new ideas, you might be sort of set in that it might not work the same as it did before.
[00:58:05] Speaker C: Yeah, everybody moves in different stages as an investor. Like, you move from a highly leveraged, low cash flow position to like a stabilization phase where you're kind of mid. And then as you've owned the properties for a longer period of time, it becomes higher cash flow and, you know, high equity.
But, you know, you're, you have a lot of retained equity in there. And at some point, what people do, and I've seen this with building owners and I've seen this with, with people who have multiple smaller portfolios, is that they end up calling their equity and putting it into like either private, private equity, sorry, not private equity, private lending, or like the stock market with like dividends and that all they're looking for is between like 6 and 10% on it. And if you've accrued, you know, a million dollars, you're pulling in $100,000. And it's in a tax efficient way, not a bad thing. And maybe you keep one property for growth or two properties for growth or something. Like, there's lots of different ways to do it. Michael Dominguez, who was our guest on the last episode, that's what he was doing. Like, you know, he was looking to. I think he said he wanted to get 30k per month was his goal. And, and I think he was at like two thirds that goal or something like that.
[00:59:39] Speaker B: He didn't say where he was at, but he said his previous one was 15.
[00:59:43] Speaker C: Right.
[00:59:44] Speaker B: And he hit that. So then he said, okay, now I want to do 30,000amonth.
[00:59:49] Speaker C: Yeah. And I think, like, you know, people are different, like different things, like different stages of their life. You need different things. And, you know, and you, especially with kids, like, I know for myself my kids are getting older to 21 and 18, and like, I want to build in them the ability to build their own, not necessarily give them what we've done, you know, as a, as a couple. Right. Because then it's not. You don't, you didn't, you didn't learn anything from that process. Right, right. And there's so much benefit that comes from the learning of that.
So, you know, I like, there's, I think there's Especially by the sounds of what your portfolio is. And I, I can't make out the numbers exactly because you're pulling things from different places. But, like, there's. I think you have lots of opportunity. It just depends on. On how you go about, you know, what you want and is there a specific number you know that you have? But in any case, you know, this has been a really great chat and great podcast. I've really enjoyed it and getting to know you a little bit has been great. I. I hope to come down and use your Airbnb, and that sounds good. So how can people learn more about you? What's the best way to connect at.
[01:01:14] Speaker D: Casa del Calibri Negro?
We'll share the link so you can drop in the show notes. It's probably the best spot.
[01:01:25] Speaker A: Yeah.
[01:01:26] Speaker B: Okay.
[01:01:27] Speaker C: Awesome.
[01:01:29] Speaker B: Yeah, I was gonna say guys, and we got together a couple days ago and that was really fun. I always enjoy running into you guys and hanging out for a while, especially because, you know, Quinton, Lisa will, like, laugh at everything you say. It just makes you feel like you're like, like the most hilarious person.
[01:01:48] Speaker C: Oh, you're, You're. I know you. You're definitely not. So that's, that's definitely an ego boost for Rob, for sure.
[01:01:55] Speaker B: I was talking about Jen, but I'll let her know.
[01:01:57] Speaker C: Oh, oh, oh.
[01:02:00] Speaker A: I'm just kidding.
[01:02:01] Speaker C: Yeah, you could say that for, like, not in front of her, though.
[01:02:05] Speaker D: Jen is a total storyteller. I love it.
[01:02:08] Speaker A: Yeah, she's in absolutely no.
[01:02:11] Speaker B: Appreciate it, guys. Thanks so much for coming on and sharing. And Quinton, how can people get in touch with you?
[01:02:16] Speaker A: You.
[01:02:17] Speaker C: Yeah, you can go to quintant d' souza.com. happy to talk real estate. 15 minutes. I do 15 minute calls, which were great. If you want to come out and hear us what we're talking about at Durham, rei reach out to me. I'm happy to, you know, set you up with a guest pass or, you know, we have all our meetings streamed live, so you can always attend from wherever you are. And I hope, hope, hope people reach out and can connect with me and, and Rob. How can people connect with you?
[01:02:49] Speaker B: Just email me. Robister Breakthrough. Ca. That's the best way. Well, thanks, everybody. Appreciate your time. And I'm. And I know for sure you guys have learned something today. So appreciate you all coming back here time after time and listening to the show again. And we will see you next time.
[01:03:05] Speaker C: Awesome. Have a good one.
[01:03:06] Speaker A: Thanks, everyone. Thank you.
[01:03:07] Speaker D: Thanks so much.
