The Secret To Success In Real Estate investing & How To Shift From Passive To Active Investor | "Inspired To Invest" Ep 38 with Dr. Alex Tam

Want to learn some of the secrets about real estate investing and how to shift from passive to active investor? 

Welcome back to the "Inspired To Invest" real estate podcast. This week's guest, Dr. Alex Tam, is with us to share some of the secrets to success in real estate investing that he’s learned along with how (and why!) he made the shift from passive to active investor in recent years.

Embark on an enlightening journey with Alex Tam, whose remarkable transition from chiropractic doctor to ace real estate investor unveils a world of opportunities for work-life balance and generational wealth. 

This episode isn't just a story; it's a blueprint for revolutionizing your financial future. Alex throws open the doors to his experiences, detailing how a pivotal business conference ignited his passion for property investment, leading him to become an influential player in the multifamily real estate scene. 

We get candid about the intricacies of investment structures, the strategic move towards stable, cash-flow positive properties, and the wisdom behind geographical diversification, giving you a front-row seat to the mechanics of building a robust portfolio.

As we navigate the roadmap of property management with Alex, he underscores the game-changing advantages of having an integrated approach to managing your investments, sharing insights on scaling up to 250 units. 

The conversation steers into the essential practice of conducting due diligence on sponsors and operators, emphasizing its role in safeguarding the trust of your partners and investors. Anecdotes from our real estate community highlight the shared visions that propel us forward, serving as a lighthouse for those aiming to steer their investments toward calmer seas. We also reflect on the common astonishment people express upon discovering the sheer potency of real estate investing. 

Closing the episode, we muse over the essence of financial freedom, not as a pinnacle to be scaled but as a journey of incremental triumphs that enable the pursuit of passions, underscoring that real estate isn't just about accumulating properties—it's about crafting the life you've always envisioned.

To connect with Alex, he can be found @alex_tam_official as well as https://zephyrequitygroup.com.

Thank you to Megan Betker from Vantage Point Financial for bringing us this month’s episodes of “Inspired To Invest”.  To learn more about them, go to @meganbetker on social & vantagepointfinancial.com online. 

“Inspired to Invest” is proud to support the Beyond Success Program, a not-for-profit financial literacy program for students, launched by More To Give & MAK Investments. Find out more at https://more2give.ca/beyond.

Tune back in on Wed., Mar. 20 to hear from an active GTA based real estate investor who, with her husband, has self-funded and grown a real estate portfolio worth more than $50 million across Canada and now into the U.S.

Thank you for tuning into “Inspired To Invest”, hosted by @serenaholmesrealtor & remember, “when you invest in yourself, the sky's the limit!"

To connect with our host, Serena Holmes, go to https://www.linktr.ee/serenaholmesrealtor. 

To buy a copy of The Accidental Entrepreneur, go to https://www.linktr.ee/serenaholmesauthor.  

And, for everything related to real estate and real estate investing, please make sure you've subscribed to @serenaholmesrealtor on YouTube & other platforms. We also have a page dedicated to this podcast on Instagram and Facebook @inspiredtoinvestpodcast where we preview guests each week, highlight their episodes, top takeaways, tips, quotes and more.

Are you a full-time real estate investor with an inspiring story to share? Apply now - https://docs.google.com/forms/d/1p6SfS8dePhLl6wMmSgdPpQ7xsJuEsBUbPDTJ0vgy9h8/  

Transcript

Speaker 1: 0:01

Welcome to the Inspire to Invest podcast, where we're sharing stories from real estate investors and how investing has changed their lives. This episode of the Inspire to Invest podcast has been brought to you by Vantage Point Financial. Hey everybody, welcome to the Inspire to Invest podcast.

Speaker 1: 0:21

I have Alex Tam here for today and he is an extremely dedicated individual, and he has a very diverse journey encompassing roles as a chiropractic doctor, a clinical director, entrepreneur and, of course, real estate investor. He's got over 15 years of experience, and he's not only helped patients overlook by mainstream medicine, he's also authored a book called the Truth About Chronic Pain. So I think that's something that I found really interesting. Despite his passion for his work, the demanding hours took a toll on his family time and through real estate investment and delegation, he realized there is a way to prioritize what truly matters, and now he helps fellow entrepreneurs, doctors and small business owners do the same, so that they can achieve business growth and create long-term family wealth and, most importantly, have that time with the family members that matter so much. So thank you so much, alex, for being with me today. How are you?

Speaker 2: 1:13

Doing great. Serena, Thank you so much for having me on.

Speaker 1: 1:17

So you obviously have a career in medicine and then you segue it over into real estate investing. How exactly did that come about? Because obviously that may not be super mainstream for most people in your fields.

Speaker 2: 1:28

Yeah, that's a great question. Being in medicine, I have my own clinic since 2009 and I wanted to better the business right, so ultimately I went to a business conference. It was a 10X conference with Grant Cardone back in 2018. At that conference, he really talked about the power of real estate and syndications. I looked at everything, talked to some of the real estate people that were attending the conference and decided you know what? I just need to dive in, so made my first limited partner investment there. Have done multiple once since and here we are today, about six years later, helping others out to do the same thing.

Speaker 1: 2:14

Yeah, and I think that once you see the power it has to change your life, it's contagious. It's hard not to talk to people about it because you've been able to reap the benefits for yourself right.

Speaker 2: 2:24

Oh, it's been huge, right, I had a single family and it didn't do as well as I thought it was going to, but multi-family has worked well for us. And as other doctors started asking me what I'm doing, I felt obligated to really become educated, and that happened in 2021. That's what led me to actively investing right In ventures, doing GP, kps, and that's how we end up where we are.

Speaker 1: 2:57

Yeah, can you take a step back a little bit? You talked about your first limited partner investment. Can you talk about how you found that opportunity and then? How that led into what those other opportunities look like.

Speaker 2: 3:07

Absolutely so. When I was at the conference I thought syndication was a word that Grant made up. I didn't know what it was. I was like, did he make this up? And that opportunity came about during the conference. He pitched it to a lot of potential real estate investors. I gave my wife a call. I said hey, I think this is what we should be doing. She's like what are we talking about? She had no idea what it was but felt, like I've done my research, that it was a great idea and we invested. And since then I found other podcasts, bigger pockets right and started looking into other companies. And then other deals came about as well. I didn't know that there were people doing it individually like the 506B way, whereas the friends and families I just knew about the 506Cs for years. So that's how I got into it.

Speaker 1: 4:07

Now for the deals that you've done. Are there primarily equity investments? Are they private lending? What do those deals look like and how are they structured?

Speaker 2: 4:15

They're structured in that 80, 20, 70, 30, limited partner general partnership and you do get equity in the deal.

Speaker 1: 4:23

And that's 70, 30 in favor of the active partner, a limited partner, the limited partners.

Speaker 2: 4:29

The limited partner is where the 70 or the 80% is.

Speaker 1: 4:33

That's favorable. I feel like most of the things I see here are more like 50, 50, 60, 40.

Speaker 2: 4:37

So yeah, yeah, more of the recent ones that we've done, because money is even harder to combine nowadays. Yeah, we've seen structures of the 80, 20s now.

Speaker 1: 4:48

Yeah.

Speaker 2: 4:49

So yeah.

Speaker 1: 4:50

And where are most of those opportunities taking place? Like, are you limited to the area where you live or are you investing across the country?

Speaker 2: 4:57

Well, I live in, like Tahoe, nevada, so that is. There's no deals here. Okay, right, so we mainly invest with partners in other parts of the states.

Speaker 1: 5:08

Yeah.

Speaker 2: 5:10

We've got some in Ohio, indiana, omaha, nebraska, some in Florida as well, so I love staying in the South, in the Midwest, so that's where our primary markets are.

Speaker 1: 5:25

Yeah, and of those properties? What do those typically look like in terms of the size of the investments?

Speaker 2: 5:32

We've got some JVs that are, you know, eight to 17 units. We've got some syndications that are in the 200 to 300 units. So it really depends. You know, once you get above, say 60 to 100 units, it's much easier to take down a deal when you are doing syndication. Yeah Right, you don't have to come in with as much cash. You can diversify a little bit. But the smaller ones, say 40 and below, it's more likely that you can join, venture, come in with a few partners to do those.

Speaker 1: 6:05

And would you prefer to come in with a few partners or do you prefer to JV one to one?

Speaker 2: 6:10

You know I get asked that question quite a bit and the syndications versus the JVs. There's two ways to look at it. For me, putting my own money in the JV, the pros and cons. The pros is you get to do it with a smaller group.

Speaker 1: 6:28

Yeah.

Speaker 2: 6:29

Right, there isn't a quarterly newsletter you have to write. There's not as many investors that you have to deal with. Overall, right, yeah. But in a syndication where you have 20, 30, 40 people involved, you really get to bring other people on board as well, those who normally would have never gotten the opportunity. They get to come on board. So I really like that and that's why I got active in the first place. Right, if I wanted to stay passive, I'll be doing JVs all day. Yeah, as being in service whether it's medicine or in real estate I feel like getting other people involved, making sure they understand the opportunities. That's very fulfilling for me.

Speaker 1: 7:14

Yeah, so obviously you started out for those first few years more in that limited capacity. So then, how did you make that jump over to being active? And then, for being active, like, can you talk about what kinds of opportunities they are? Like, are you looking at adding appreciation and value to properties or just buying them turnkey? What does that look like?

Speaker 2: 7:32

Yeah, there's a combination. When you buy a property being more active now I'm more active in the asset management side, the capital raising side you can go in and take down a property that may be in a little bit of the stressed where you have to turn it. Each unit may need as little as three to four thousand, but if you're doing a gut job it could be 15 to 20 thousand per unit and adding value that way. Those are investors. Usually they understand that there isn't going to be very much cash flow at the beginning during the stabilization period, and that was good about a year or two ago. Now the transition is less in the value add, especially the big value adds, and it's more in properties that have stabilized, where we go in and do smaller renovations maybe countertops, cabinets, right A few thousand dollars and then really get everything up to market rent. And we focus more now on the operations. Some of our partnerships have vertically integrated their property management and I've realized over time that while having in-house property management I mean it is key- World of difference.

Speaker 2: 8:52

Yeah, Big difference yeah.

Speaker 1: 8:55

Now for the size of your portfolio. Where does that stand today?

Speaker 2: 9:00

Right now that we own our partnerships in sits about 250 units that we're in and how do you?

Speaker 1: 9:09

find balancing that just in terms of everything across the board? Like, did you find that you had to get business coaching, because obviously that's a next level right when you start to acquire that many properties and you're balancing that many properties?

Speaker 2: 9:22

Before I became active. That's where I got some coaching and we still consistently get consulting through our mastermind. So we joined the Jake and Gino group in 2021. And then it rolled into MIH mastermind soon after right. I believe that being part of a community, that the mindset, the people, the values, the mission, vision is we're all going after the same thing. I think that's very, very important. Real estate is definitely not a single sport. It is a team sport.

Speaker 1: 10:00

I realize that Because you're often working independently, right, so it can be very isolating. If you do have questions or you need support, like, who do you ask if you're flying solo, right? So I think that's where those communities and those masterminds make the world of difference. Absolutely when you look now at you know this past six years. What would you say is your greatest success in your mind?

Speaker 2: 10:19

I would say the greatest success. I mean I believe getting started was a big success, right, and then choosing the right mentorship and being in the right mastermind and the relationships. I got into this game thinking it was all about the numbers and finances, not realizing soon after it's all about the relationships. Yes, the numbers have to make sense, don't get me wrong. Right, but the relationships that you've built comes first and we've had a lot of success in building very strong bonds, very strong relationships down the line.

Speaker 1: 10:56

Yeah, no, that makes sense, and I think as you continue to build and grow, that will be even more and more important, right? Because people will be reinvesting with you if they trust you and they believe in what you're doing and they feel like you're dependable with their money and stuff like that 100%. In terms of obstacles you obviously talked about. You know the challenge or the fear that a lot of people have just getting started. Is there anything aside from that that you would have looked back at as like your biggest obstacle?

Speaker 2: 11:21

I would say the biggest obstacle is we got into deals, have gotten into deals where we may not have done full vetting on the main sponsor and finances did not end up really the right way. It was not clear. I wish that we would have dug a little deeper on the main sponsor to operators themselves before diving into these deals, and luckily we got out of these deals. You know good, we actually made some money, which is surprising. But nowadays that's something that I'm very, very strong about is making sure we do a deep dive on the sponsors, looking at their past history, looking at what they do, who they work with, and that's really important Now, more important than ever, because we're getting other investors involved as well. It's not just my money now.

Speaker 1: 12:16

Yeah, now what kind of things are you asking them? Obviously there's the finances, but is there anything? When you compare, you know how you used to do your due diligence to what you're doing now. Like what other things have you maybe added to that equation?

Speaker 2: 12:29

Really look at what their past deals look like, but also, at the same time, knowing how they are justifying their underwriting as well. Understanding underwriting is a key part in what we do, right? Because operators come out and they say, oh, we can achieve this, this and this and this, and if something doesn't check out, we need to know how to verify those numbers. Right, they say they have the team. Well, who's on your team? What is the track record on those team people? You know the people on their team. We talk to past investors, people who I trust, who have invested with them. Yeah, how does the deal coming out right? So all of these things and that's the thing is that most limited partners don't understand the underwriting fully. So they're really relying on us to say, hey, here's a deal, I'm investing in it. Right, you're feel free to take a look at it. They're trusting in me to really look at the underwriting, yeah, and verify all the numbers. And that's what we're at right now.

Speaker 1: 13:34

Yeah, I think that makes perfect sense because I think anyone can put together a really fancy glossy presentation and all the details.

Speaker 1: 13:40

But, obviously there's got to be ways to fact check all of that and do it properly, whether it's with an accountant or a lawyer, right, right, but agreed, like I think there are even deals that, looking back, you know, six, seven years ago, things that I did and, as an example, like I invested in some syndicated mortgages and they're all supposed to be shorter terms, like 12, 18 and 24 months, and I'm still stuck in one and a half of them, like five and a half years later.

Speaker 2: 14:03

Oh, my gosh.

Speaker 1: 14:04

It's like never ending deal and they're still paying their interest on the front end. But it's just this moving target and I think looking back, there was just there was a lot of misrepresentation behind what the deal actually was. The contract did say they could extend for six months twice. Obviously we're well past that and it just feels like we've all kind of been stuck in this situation in limbo. And you know for me, a lot of the other investments I've done paid that off a long time ago.

Speaker 1: 14:31

But you can imagine nobody knew COVID was coming, so there could be, people that really were depending on this principal investment coming back at that time and now they're, you know, years later, right? So I can see where that would be challenging. So I think you can never ask too many questions. You know, sometimes there's things that are obviously presented one way, but you've got to really look out for yourself, no matter what you're investing in.

Speaker 2: 14:53

Yeah, and you got to be able to stress, test these ideas right and see, hey, what would happen? What's the worst case scenario? How are they prepared for it?

Speaker 1: 15:01

Yeah.

Speaker 2: 15:03

Right.

Speaker 1: 15:03

Yeah, yeah, no, absolutely. Now, looking at your wealth of experience, what would you say are some of the biggest lessons that you've learned?

Speaker 2: 15:12

The biggest lesson that I've learned is the importance of a phenomenal property manager. Yeah Right, the exciting part in getting deals is usually finding a deal, financing the deal and getting under contract and closing it.

Speaker 1: 15:29

Then you got to do the work.

Speaker 2: 15:30

Then it's the work. No one really talks about that from the beginning. On the importance, Like who do we have a good property manager lined up for this? That is their track record. Now, that is huge. We overlooked it at the beginning and had to switch multiple times in property management. But now, when we get in the deals, that is one of the biggest things that I'll be asking is like who's the property manager who is managing it to making sure that the business plan is going to be executed?

Speaker 1: 16:06

Yeah, and also just figuring out when the unexpected happens, like there's a company that I invested with and their property manager actually collected the rent in September and then just kept it and didn't send it along. And it sounds as if they kept the same thing in October and obviously, like then they intervened and got legal involved and stuff like that, but they had to make very, very quick changes. Obviously, that's hundreds and hundreds of thousands of dollars, because that's, I think, 250 units or something.

Speaker 1: 16:33

Yeah, and they had to bring in a new property manager found a lot of the work was not completed or behind a lot of vacancies, the missing rent money. So they've obviously been on serious damage control right now and I think they're definitely doing their hardest work to try to make everything happen. But at the end of the day, that property manager that's the feed on the ground for you makes the world of difference, especially when you're dealing with investors and stuff like that. Right, you've got mortgages to pay, you've got utilities, so it couldn't be more important.

Speaker 2: 17:00

Huge yes, correct.

Speaker 1: 17:03

So, on that note, we're just going to take a really brief break forward from our sponsors and we'll be right back.

Speaker 3: 17:07

It's Megan Banker, wealth coach and real estate investor from Victoria BC. I've spent a decade helping business owners and real estate investors safeguard and super charge their wealth. Today, I wanted to share a couple of goals and nuggets for real estate investors. Tip one diversify. In this ever changing market, having a mix of assets is key. Tip two leverage the power of infinite banking. It's not just a tool, it's a game changer, whether you're a seasoned pro or just diving into real estate. Let's connect. Visit vantagepointfinancialca or follow us on Instagram at Megan Banker.

Speaker 1: 17:41

Inspired to invest, is proud to support the Beyond Success program. In today's complex world, it's absolutely crucial for our youth to learn how to take charge of their financial future. We believe that every young person deserves access to accurate, practical financial information. Designed to bridge the gap, the Beyond Success program leverages a comprehensive educational bootcamp to equip young minds with essential financial literacy skills. By Beyond Success, it's not just about teaching financial literacy. It's also about fostering a foundation for a prosperous and empowered future. Join us Together. We can build a brighter financial future for the next generations. Join us Together, we can build a brighter financial future for the next generations.

Speaker 1: 18:28

I value transparency, integrity and trust. If you choose to work with me, you can be assured that business will be conducted honestly and openly. Time is of the essence in this industry, so you can expect nothing short of quick, clear communication from me. I'll keep you informed every step of the way so you feel comfortable throughout this entire process. Our homes are where we eat, sleep, relax and play. My client's best interests are at the heart of everything I do and, with this said, my service to you doesn't end when the transaction does. As your realtor, I'll not only help you buy and sell your property. I'll also educate and support you along the way. I want to help you fulfill your goal of home ownership and become your trusted real estate resource for life. I can't wait to share my passion for real estate with you. More importantly, find you the perfect house to turn into your home.

Speaker 1: 19:23

Look who to buy, sell or invest in Durham Region or Toronto. Let's chat. Hey everybody, welcome back to the Inspire to Invest podcast. I have Alex Tan here with me today and he has an illustrious experience in the medical field, but along the way, he discovered real estate investing and he's now been investing for the past six years. So he's shining a light on all of his different experiences, from going from a more passive investor to a more active investing. And with that being said, I guess one of the questions I want to ask you is what's the craziest thing that's happened to you so far as a real estate investor?

Speaker 2: 19:57

Well, there's, there's multiple things, but one of the craziest things that's ever happened is for me. There's, there's realizing that real estate can be done by anyone. But here's the crazy thing Just because we're excited about real estate does not mean other people are going to be excited about real estate as well. We can be so excited as investors and we believe, oh my God, it's the best thing out there, yeah Right. And then when you share it with people and so many people are not ready, they're not ready to hear it you have the facts you want them to do well, especially friends and family.

Speaker 1: 20:47

Yeah.

Speaker 2: 20:48

The crazy thing is they think it's maybe a scam.

Speaker 1: 20:52

Yeah.

Speaker 2: 20:53

They think you're crazy.

Speaker 1: 20:54

Yeah.

Speaker 2: 20:55

Because it is so outside of the norm. Yeah, right. And then we realize, wow, how small the community is. Yeah, you start going to conferences. You start seeing the same people all the time, all the time, yeah, and it's not that it's so much that it's outside of the norm.

Speaker 1: 21:11

I think it's the way that we've been raised and the way that school teaches you that you get educated, you get a job, you buy a house, you have your retirement plan. We're all programmed in these certain ways and I think there are just even the books that you read. No one talks about money and finance and investing. I think they should have rich dad, poor dad and all the high schools. I think people need to understand.

Speaker 1: 21:36

if you want to get ahead and if you want to hedge inflation and if you want to grow your worth, this is one of the best tools that you could possibly take advantage of. It is accessible to anyone, so I think it's accessible, it's accessible For programming everything that we've been brought up to believe.

Speaker 2: 21:51

It is a huge reprogramming. Everyone is told to work until they're 65, 70. Well, who told us that?

Speaker 1: 22:00

Yeah.

Speaker 2: 22:01

Right. The schools taught us that. The government taught us that.

Speaker 1: 22:04

Yeah.

Speaker 2: 22:05

Well, there's obviously people who retired early.

Speaker 1: 22:07

Yeah, how did they do it?

Speaker 2: 22:09

Yeah, yeah they're living life like wow, are they just lazy, Right? They're thinking all the negative things? Yeah Well, they're just lazy. They don't even work all day yeah Right, we just didn't see all the work that they put in, the strategies that they put in in order to get to where they are.

Speaker 1: 22:25

Exactly, yeah, yeah, because people are too busy out there buying a fancy car clothes and they're just not prioritizing the assets ahead of their purchases.

Speaker 2: 22:34

They're trying to keep up with everybody else. Yeah Right, I'm trying to get my passive income to buy me all that stuff.

Speaker 1: 22:40

Exactly.

Speaker 2: 22:41

I'm not trying to use active income to do it, yeah, and that financial independence it's achievable, yeah, where your passive income can cover your expenses. I had no idea that was something that was doable. Yeah, you know, yeah, and until we were able to do it, so it's been great.

Speaker 1: 23:01

Yeah, no, that's amazing. Now you obviously talked a lot about education and your mastermind early on into the chat. What would you say some of the best advice that you've gotten over the last few years?

Speaker 2: 23:13

One of the best advice I've gotten is don't get rushed into a deal. No deals better than a bad deal. Right, and I got that drilled into my head. Don't just go out there looking for the shiny object syndrome and just, oh, there's a deal. You better go after it. You got to verify that it's a good deal.

Speaker 1: 23:33

Yeah.

Speaker 2: 23:34

Right, I think being taught patience has been key for us. Yeah, so we're getting into relationships with the right people. Yeah, right, learning how to buy right, finance it correctly and then manage it correctly. You know, that's the rules that we stay with.

Speaker 1: 23:55

Yeah, it's a slow game and I think that there is a lot of comparison and competition in the sense that you know, even if you're on social media, people put the number of doors that they have and you know it's just like this. It may not even be cash flow and they could even be cash flow negative, but they could be like I have a thousand doors or whatever. It is Right.

Speaker 2: 24:13

I had no idea how they calculated that. When I first came in, people told me they have 3,000 doors and I said 3,000 doors. So here I am thinking all right, if they got 3,000 doors, let's just say each door cash flows $100 a month. Right, why are they still working? Right, yeah, and I had no idea. They put in their limited partner positions and they got like 0.003% and then all of a sudden they got 300 doors.

Speaker 1: 24:44

I was talking to someone that said they even count the number of doors within a property, like the bathroom doors, the closet doors.

Speaker 2: 24:50

Oh, my God.

Speaker 1: 24:50

Because I was talking to someone he's like they don't have that many doors and then they said that I'm like I've never heard of that before. But I guess if someone's desperate to appear a certain way, maybe they would. But obviously I think at the end of the day you've got to do what makes sense. And cash we're especially now with rising interest rates Like if you went into something that was barely making any money, then where are you when the interest rates go up?

Speaker 2: 25:13

Yes, I like to look at hey, what's your passive income per month? What does that look like?

Speaker 1: 25:21

Yeah.

Speaker 2: 25:22

Right, screw the doors. Yeah, what's the finances look like? Yeah, people like to boast about what they have and it's that rat race keeping up with the Joneses type thing.

Speaker 3: 25:36

Oh, I got 5,000 doors.

Speaker 2: 25:37

I'm like yeah, so why are you still working so hard? Yeah?

Speaker 1: 25:42

Yeah, I know that makes perfect sense and that's kind of a perfect segue into my next question. Just in terms of financial freedom, do you have a particular number in mind, and it doesn't necessarily have to be number of doors, but you talked about passive income or whether that means retiring from medical Like. To you, what does that look like, to know that you're financially free?

Speaker 2: 26:00

You know that's a great question, serena, and I don't have a set number Right now. Real estate has surpassed what our monthly expenses are coming in already. So say, if I didn't work another day, we'll be set right. And then the question is I love what I do as a doctor? Yeah, so I think that's why we've put together a team of two doctors and five staff in this office and my goal is to go open a second office, because I feel like what we do here is too important to keep it to one location. Real estate is going to continue to come, we're going to continue to build it and it's going to continue to maximize itself. As that happens, our lifestyles probably change a little bit. Right, and there is no set number because I don't plan on stopping.

Speaker 2: 26:56

I plan on continuing to do what I really enjoy and what I really love to do and continue to add years to my life less stress, more function, more happiness and more fulfillment.

Speaker 1: 27:11

Yeah, now that makes perfect sense. So you've talked about it a little bit. But in terms of how real estate has changed your life, and that could be in terms of time freedom opportunities you talked about the passive income exceeding your expenses, but just as a whole, up until this point, how has that really impacted you?

Speaker 2: 27:27

Oh my gosh. The impact on our lives has been huge, not only the freedom of finances and time right, and I'm more willing to take time off of work now.

Speaker 1: 27:41

Yeah.

Speaker 2: 27:42

Yeah, if I have to go somewhere, take a day, take a week, take three weeks, I'll go. Yeah, whereas before you're like, oh, I don't know if I can do that, yeah, right, yeah.

Speaker 1: 27:55

I know too.

Speaker 2: 27:56

Yeah, Now you can absolutely do it and the amount of it's just the stress. Stress is the number one cause of diseases and inflammation in the body and just having less stress and less inflammation and less diseases alone is huge and the relationships that we've made. And another thing that's changed is I've been to more remote places in America than I've ever thought of being before.

Speaker 1: 28:26

Yeah.

Speaker 2: 28:27

I never thought I'd end up in Omaha one day, but we have to visit the multifamily that we're going to purchase.

Speaker 1: 28:34

Yeah, yeah, and it's not always sexy and beautiful in the way that you may think, but that could be where the opportunities are, the numbers make sense. So I think people just need to be open-minded. And if you don't live in an area like where you live, where I live, like there's not great opportunities right now because the value of the real estate is just so high and I don't know about landlord tenant rules Like for us that's challenging here. So for me, like everything I've ever invested in is outside of my own backyard and you know you want to go far for different reasons, but sometimes that could be another barrier some people have. So you just have to keep that mind open and the opportunities can come in.

Speaker 2: 29:08

Absolutely 100%.

Speaker 1: 29:10

So I guess, in terms of the your favorite quotes, obviously the name of this podcast is Inspire to Invest, so what would you say is one of your favorite quotes that motivates and inspires you?

Speaker 2: 29:20

I have it right above my desk. It says success is your duty, obligation and responsibility, whether it's to your staff in the office, to your family. Right, the word responsibility is really important. You know people think, well, I could just relax and provide. But it is our responsibility to provide a phenomenal life to the family that we have and take part in it. Whether it's depending on the role right, I know my wife I wouldn't be able to do what I do without her doing what she does, and we're both responsible.

Speaker 1: 30:05

Yeah.

Speaker 2: 30:06

Yeah.

Speaker 1: 30:07

But I think that's what makes a great partnership right. So Absolutely. So thank you for again your time today. For anyone that does want to get in touch with you and learn more about your opportunities. What's the best way for them to get in touch?

Speaker 2: 30:19

They can contact me on all the social media networks LinkedIn, facebook, instagram. They can give me a call you know, and we can provide that in here. Email me. Either way, we'll be in touch.

Speaker 1: 30:33

Great and we'll obviously include all of your details in the show notes below For anyone that is watching. Thank you so much for your time tuning in to Inspire to Invest and if you like what you've seen, make sure that you like, comment and subscribe. You can also follow along at Inspire to Invest podcast on social media and make sure that you remember when you invest in yourself, the sky's the limit. Thanks again. Thank you to Vantage Point Financial for bringing you this episode of Inspired to Invest. The views represented on this podcast are for general information only and does not constitute investment or other professional advice or an offering of securities. The hosting guests featured on Inspired to Invest make no representations as to the performance of any particular investment. Should you decide to make an investment, you are responsible for conducting your own review and analysis. It is recommended that you obtain independent legal accounting and tax advice from licensed professionals.