69: 5 Tips to Take Advantage of the Real Estate Market in 2024

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to the Clone Real Estate Podcast.

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I'm your mortgage broker host,

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Taylor Atkinson.

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And I'm your real estate agent

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host, Matt Glenn.

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What's happening today, Taylor?

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got some big news.

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It is a solo episode with both of

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us.

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Yeah.

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It's a dual solo episode.

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Get used to it, What's happening?

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Yeah.

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What are we talking about today,

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Matt?
Well, we've hit a milestone in

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Canada. 41 million people now live
in this country.

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Wow.

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That's a lot of people.

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Not a lot of houses.

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So I think the long-term trends

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for real estate prices are up, but
as of right now, this has been a

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tough year as we all know.

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And because of that, Taylor and I

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have five tips to take advantage
of the real estate market in 2024.

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That's what this is.

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Yeah.

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So buckle up, get your pens and
notepad, and we're going to dive

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straight it.

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All right.

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This episode, like every episode,
is sponsored by the best brokerage

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in town, Century 21 Assurance
Realty.

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It's my brokerage.

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It's where I started.

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It's where I'm still at.

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And I love it.

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If you're an agent looking for a
change, maybe this market's got

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you down, you need a little help,
a little boost from your peers,

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Century 21 is a brokerage for
First up is having an abundant

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Okay.

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Yes.

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mindset.

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What we mean by that is not trying

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to time the It's time in the
market, market.

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not thinking too So when we're
talking small.

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about having an abundant mindset,
we want you to be able to analyze

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properties without being
emotionally invested and having

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some data to back it up.

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But we just don't think you should

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try to penny pinch and come in
with massive lowball offers

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because you might just offend the
potential seller.

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It goes the same with rates.

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A lot of people have been waiting

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for rates to come down
substantially for a long time.

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Projections are that we will see
some rate decreases, but they may

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not be as big as people are
hoping.

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And financially, it may not impact
you that much.

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So if you need a place to live and
you're paying rent, then you

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should probably just buy a place
to live.

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Much like if you're looking at
buying a rental property and

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fundamentally it makes sense, you
shouldn't be trying to save a

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couple thousand bucks and sit on
the sidelines next two years.

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You should just find something
that makes sense and pull the

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trigger.

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It's how psychology works, as I

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learned being an agent over the
years here.

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When the market is going up,
everyone thinks it's just going to

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go up forever.

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And when the market is going down,

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everyone thinks it's going to go
down forever.

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It's kind of funny that we just
have such short-term memories

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about those kinds of things.

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The market is down right now,

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clearly, but I feel like 2024 is a
year people are going to look back

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on and be in like, I wish I would
have bought some real estate in

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the year 2024 because of the
opportunities there are now.

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If you look at the time graph in
the Okanagan buying a house, we

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are rarely ever in a buyer's
market.

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And when we are, it's down there
for a couple of months at a time.

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And right now, we're at the bottom
of the balance market, into

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buyer's market territory.

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But it's only a matter of time

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before it just zings right back up
into the seller's market.

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We just talked to about 41 million
people in this country.

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We're not slowing down.

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It's not going to get any smaller.

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We're not building houses because
of the interest rate, because of

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the market.

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Building has slown down a bunch.

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So we're basically just postponing
the next boom for the next few

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years.

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We're going to have a shortage of

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houses again.

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I just feel like there needs to be

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a bit of a come down to earth with
the real estate market.

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Exactly what Taylor said.

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Time in the market is way more

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important than timing the market.

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And saving a half a point on your

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interest rate now.

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It sounds good, but if you have to

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wait two years to get there, is it
really worth it at that point?

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Yeah, no, that's a good point.

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I think what we're talking about

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is having an abundant mindset and
it's not FOMO.

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It's not like, hey, just dive in
for the sake of diving in like

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people were doing three, four
years ago.

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So yeah, very good point with
that.

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buying a house 20 years ago.

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Do you remember 20 years ago, what

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exactly the market was?
Like, was it a buyer's market?

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Was the prices up a bit?
Were they down a bit?

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No, you just know that your house
is double or triple in value over

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those 20 years, right?
So I feel like real estate is very

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much a long-term investment.

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When you start buying real estate

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to flip or buying it and selling
it in six months or a year or two

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years, that's when it gets risky
because nobody knows what the

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market's going to do in that
amount of time.

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But everybody knows that given
enough time, enough time is 5, 10,

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20 years.

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It's almost certainly going to be

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worth a lot more than this today.

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And you're almost guaranteed that

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there's going to be worth at least
the same as it is today.

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Taylor, I know, bought a
investment property of his right

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in 2008, still made money on it.

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So if he can make money buying a

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condo in 2008, I think you're
pretty safe to buy something now.

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What do you Yeah.

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And I think we have to remember

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too, for most people, buying is
their owner-occupied primary

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residence is the shelter cost.

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It is needed.

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There are certain times in the
market where potentially renting

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would be more affordable, but
historically it's always been the

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right decision to buy something.

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It is kind of a known asset class

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that is going to increase.

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People have no problem buying a

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$80,000 truck and driving it off
the lot and instantly losing money

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and having a monthly payment that
is equal to their mortgage

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payment.

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But some people have a hard time

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just pulling the trigger on a
property that they need to rest

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their head and get some shelter.

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And as long as the numbers make

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sense, whether it's your personal
residence or rental property, as

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long as you can make the payments,
it doesn't really matter what the

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outside market is doing for the
time that you live in the house.

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And even if you're going to sell
and buy, you're going to sell and

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buy in the same market.

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So I agree with you totally.

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Like I always tell my clients that
buying a house is a financial

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investment, but it's also a
personal investment.

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Like you have to live in this
house most of the time, right?

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Unless it's a mental property, but
even then it's a bit of a personal

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investment, but like you're going
to live in this house.

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So like, if you like a house, if
you'd like the yard, you like the

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way the bedroom is, you have your
en suite bathroom.

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So you can stay away from the
family, be by yourself for a few

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minutes a day.

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These things matter to people.

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And if you're just not going to
ever do it because you think the

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market could be better, it just
doesn't make sense logically.

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That's what I want to drill down.

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It's almost like as a collective,

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nobody wants to buy until the
prices go up.

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It doesn't make any sense when you
say it out loud, but it's what

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people are waiting for, is for the
prices to go up before they jump

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in, which does not make sense in
most cases.

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Yeah.

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And this is what I mean with our

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topic with abundant mindset is try
to think really, really long-term.

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What Matt just touched on there is
nobody wants to buy when the

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market's down because they're
afraid to lose money.

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If you bought a house a couple of
years ago at a million dollars and

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now it's going to sell for 950,
you're like, I'm not going to sell

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my house until it goes back up
because I can't lose money on it.

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But every other house around you
has also gone down by that much

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value.

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So if you're staying in the

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market, don't think of it as
you're going to sell and lose

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money or, you know, when the
market's up, you don't want to

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sell because then you've got to
buy something that's more

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expensive.

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You expensive.

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If it's a personal choice, just
find out what is your priority in

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life and make it happen.

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So next topic that we wanted to

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talk about is owning your primary
residence.

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Now, Matt and I obviously are
pretty heavily invested in real

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estate in all aspects, but this is
just to us, the thing that will

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generate the most amount of wealth
in your life is owning your

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primary residence.

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Yeah, it's pretty hard to do right

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now, but the government has come
out with some recent policy

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changes.

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First home savings account, RSP

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being increased for the allowable
limit that you're allowed to take

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out as a down payment, property
transfer tax exemptions being

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increased, and then capital gains
exemption on your primary

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residence.

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Hopefully that sticks around

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forever.

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But, you know, with capital gains

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going up on other investments, you
know, going from rich dad, poor

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dad, I don't want to say like
owning your primary resident is an

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asset.

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I wouldn't classify it as an

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asset, like in terms of net worth,
but it is a investment vehicle to

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store money and to store capital
and watch it grow, as well as

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double dipping and having
somewhere to live.

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So you're not paying rent, right?
Yeah, you're paying interest, but

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at least you're paying down some
principal as well and you're

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getting some tax benefits.

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And then to top off that as well,

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you can turn your primary
residence into some house hacking.

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You can get something with a
basement suite.

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You can rent it out, add a lot of
value to it by doing some little

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home renovations.

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So if you don't have that first

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home yet, that is the number one
move to make, I think, in 2024 is

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five primary residence.

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And think about right now.

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Right now in our market, we have
high interest rates and lower

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prices.

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So right now is the highest your

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payment is going to be, right?
So like when you go in to buy a

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house, the interest rates are not
going to go up from here.

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If anything, they're going to go
down or stay the same.

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So when you go in to buy your
first place or a place, that's

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your payment.

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And over the years, it's going to

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do nothing but get smaller and
your principal is going to get

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paid off faster.

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So like right now, I hear a lot of

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comparisons like, well, it's
cheaper to be renting.

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It's like, the short term it might
be but in the long term you're in

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a fundamentally different position
after 20 years of renting and

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owning a place even if that place
you buy in a studio apartment for

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300 000 which we'll talk about in
a bit but like they exist and for

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five percent down you need 15 000
to buy something like that or to

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buy if you need a two-bedroom you
can get them for 400 500 so you

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need somewhere between 15 and 25
thousand dollars to get into the

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market and set up like for the
rest of your life to me it feels

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00:08:41,035 --> 00:08:43,400
like that should be the goal for
everyone who doesn't own their

247
00:08:43,400 --> 00:08:45,786
primary residence is to get into
something yeah and i mean even to

248
00:08:45,786 --> 00:08:47,980
top that off like the first home
savings account the government is

249
00:08:47,980 --> 00:08:51,612
giving out free money here as much
as we talk poorly about some of

250
00:08:51,612 --> 00:08:53,908
their decisions they're making,
like first home savings account.

251
00:08:53,908 --> 00:08:56,838
Hey, how does that work?
Explain to us how that works too.

252
00:08:56,838 --> 00:08:57,155
Yeah.

253
00:08:57,155 --> 00:08:59,049
It's kind of like a tax-free

254
00:08:59,049 --> 00:09:00,718
savings account, right?
The limit right now is $8,000

255
00:09:00,718 --> 00:09:00,940
annually.

256
00:09:00,940 --> 00:09:02,053
So you throw in $8,000 to it.

257
00:09:02,053 --> 00:09:05,916
You can take it out the very next
day and you get a $8,000 tax

258
00:09:05,916 --> 00:09:06,256
write-off personally.

259
00:09:06,256 --> 00:09:08,024
So a couple does this, there's

260
00:09:08,024 --> 00:09:08,228
$16,000.

261
00:09:08,228 --> 00:09:09,390
Right away, you're getting a

262
00:09:09,390 --> 00:09:10,367
rebate back from the government.

263
00:09:10,367 --> 00:09:11,772
So they are coming out with these

264
00:09:11,772 --> 00:09:14,641
programs to try and incentivize
people to buy their first So let's

265
00:09:14,641 --> 00:09:16,127
just drill down on a second.

266
00:09:16,538 --> 00:09:17,655
So $16,000 a year that you get

267
00:09:17,655 --> 00:09:21,038
back, but you're basically adding
30% to that because of your tax

268
00:09:21,038 --> 00:09:22,919
rate, right?
So you're getting a 30% more than

269
00:09:22,919 --> 00:09:25,842
that because you're not paying
taxes on that amount to buy your

270
00:09:25,842 --> 00:09:26,320
first place.

271
00:09:26,320 --> 00:09:27,635
It acts as a tax-free savings

272
00:09:27,615 --> 00:09:27,840
account.

273
00:09:27,940 --> 00:09:28,648
You're investing in that account

274
00:09:28,593 --> 00:09:29,796
to basically build up a down
payment.

275
00:09:29,796 --> 00:09:33,240
And then when you take the money
out as per the down payment, yeah,

276
00:09:33,460 --> 00:09:36,146
you just get that right off
instantly against your personal

277
00:09:36,146 --> 00:09:37,548
tax bracket, depending where you
are.

278
00:09:37,548 --> 00:09:42,176
Obviously, it's going to be more
powerful for some people in a

279
00:09:42,176 --> 00:09:46,101
higher tax bracket, But to utilize
something like that, that's free

280
00:09:46,101 --> 00:09:48,192
money, property transfer tax
exemption, obviously on a sliding

281
00:09:48,192 --> 00:09:48,371
scale.

282
00:09:48,371 --> 00:09:50,044
But if you're talking about those

283
00:09:50,044 --> 00:09:52,763
condos in that $300,000, $400,000,
$500,000 range instantly, you're

284
00:09:53,168 --> 00:09:56,411
not going to have property
transfer tax as a first time home

285
00:09:56,411 --> 00:09:56,736
buyer.

286
00:09:56,736 --> 00:09:58,098
And then not paying rent, it's

287
00:09:58,098 --> 00:09:59,344
just kind of a win-win.

288
00:09:59,344 --> 00:10:00,849
Either way, you're going to have a

289
00:10:00,849 --> 00:10:02,486
monthly housing payment, right?
Rent or principal residence.

290
00:10:02,486 --> 00:10:04,388
So yeah, you have to pay interest.

291
00:10:04,388 --> 00:10:05,987
Sucks, but we're all doing it.

292
00:10:06,175 --> 00:10:09,492
But you're not paying rent and
your mortgage is getting paid down

293
00:10:09,492 --> 00:10:11,166
and your property is appreciating
over time.

294
00:10:11,166 --> 00:10:13,584
Might not appreciate this year,
might not appreciate next year,

295
00:10:13,584 --> 00:10:15,505
but over the years, it was
certainly going to.

296
00:10:15,505 --> 00:10:15,753
Yeah.

297
00:10:15,753 --> 00:10:17,849
And I think we've always said this

298
00:10:17,849 --> 00:10:21,117
is, if you can qualify, go out and
buy a property.

299
00:10:21,117 --> 00:10:24,192
You never know what's going to
change if rates are going to go if

300
00:10:24,192 --> 00:10:27,902
up, the government's going to come
out with some kind of restriction

301
00:10:27,902 --> 00:10:29,464
on amortization.

302
00:10:29,464 --> 00:10:30,974
But if you can qualify for a

303
00:10:30,974 --> 00:10:34,197
property and you have that
pre-approval, go out and buy.

304
00:10:34,197 --> 00:10:37,813
Because if the rug gets pulled out
from under you or something

305
00:10:37,813 --> 00:10:40,316
happens with employment and you
don't have that consistency for a

306
00:10:40,216 --> 00:10:43,322
couple months, and then you lose
that approval and then you're back

307
00:10:43,322 --> 00:10:44,033
at your job.

308
00:10:44,033 --> 00:10:46,166
Yeah, just buy when you can.

309
00:10:46,266 --> 00:10:47,884
So I just want to jump in.

310
00:10:47,984 --> 00:10:49,246
I'll hear one thing.

311
00:10:49,246 --> 00:10:52,599
So if you go on social media, on
Twitter is the worst, but all of

312
00:10:52,599 --> 00:10:52,816
them...

313
00:10:52,816 --> 00:10:54,490
Actually, TikTok is pretty bad too

314
00:10:54,574 --> 00:10:57,555
when you hear anyone talk about
any kind of real estate, is that

315
00:10:57,555 --> 00:10:58,528
the world is falling.

316
00:10:58,528 --> 00:11:00,409
It's the worst time ever to buy.

317
00:11:00,409 --> 00:11:01,706
Canada's in the drain.

318
00:11:01,706 --> 00:11:03,682
Don't ever put your money here.

319
00:11:03,582 --> 00:11:10,039
And it just irritates me so much
to read that.

320
00:11:09,929 --> 00:11:10,579
Not because I'm offended by what
they say.

321
00:11:10,579 --> 00:11:11,229
I don't really care what they say.

322
00:11:11,229 --> 00:11:11,923
But I know people that are very

323
00:11:11,812 --> 00:11:11,862
conscious.

324
00:11:11,857 --> 00:11:13,316
That generation is reading those

325
00:11:13,316 --> 00:11:15,401
things and just they're getting
scared off of buying.

326
00:11:15,401 --> 00:11:18,493
And they're basically cleaning up
their future because of these

327
00:11:18,493 --> 00:11:20,741
stupid comments that are just
endless on social media.

328
00:11:20,741 --> 00:11:23,062
And they're just getting terrible
advice.

329
00:11:23,062 --> 00:11:26,232
Like, just look at the people that
have money in society and they all

330
00:11:26,232 --> 00:11:27,179
have real estate.

331
00:11:27,179 --> 00:11:27,357
Right?

332
00:11:27,357 --> 00:11:30,140
So why would you listen to these
comments about now is the time?

333
00:11:30,340 --> 00:11:31,142
Like, the cliff is coming.

334
00:11:31,142 --> 00:11:31,820
No, it isn't.

335
00:11:31,820 --> 00:11:34,268
I just feel like it's bad advice
and it's actively hurting people

336
00:11:34,268 --> 00:11:35,159
that listen to it.

337
00:11:35,059 --> 00:11:36,214
If somebody is really conscious,

338
00:11:36,114 --> 00:11:38,965
maybe scared to make the first
step and then they go on there and

339
00:11:38,965 --> 00:11:41,784
read 1500 comments about the sky
is falling, it's going to change

340
00:11:41,784 --> 00:11:42,104
mind.

341
00:11:42,104 --> 00:11:43,623
And that's what's so irritating

342
00:11:43,623 --> 00:11:45,027
about reading stuff like that
online.

343
00:11:45,027 --> 00:11:48,258
So I think real estate is probably
the safest investment that you

344
00:11:48,258 --> 00:11:48,900
could ever do.

345
00:11:49,000 --> 00:11:50,304
And you've got to live somewhere

346
00:11:50,296 --> 00:11:50,496
anyway.

347
00:11:50,488 --> 00:11:51,780
So you might as well pay for the

348
00:11:52,060 --> 00:11:54,946
place where you're living instead
of renting it from Yeah.

349
00:11:54,946 --> 00:12:00,451
Our next topic kind of goes hand
in hand with this one is buying a

350
00:12:00,451 --> 00:12:01,254
rental property.

351
00:12:01,254 --> 00:12:02,760
It's been a little bit more

352
00:12:02,760 --> 00:12:05,019
difficult the last few years to
buy a rental property.

353
00:12:05,019 --> 00:12:05,320
Yeah.

354
00:12:05,560 --> 00:12:08,035
Reason why is just, you know, our

355
00:12:07,935 --> 00:12:09,703
debt service calculations on how
we can approve people and rents

356
00:12:09,703 --> 00:12:12,330
don't really, you know, cashflow
where we need them to, to justify

357
00:12:12,330 --> 00:12:12,759
it.

358
00:12:12,759 --> 00:12:14,548
Say in the Okanagan, there are

359
00:12:14,548 --> 00:12:17,460
certain places, you know, call
Alberta, probably one of them, but

360
00:12:17,740 --> 00:12:20,867
to buy your own or occupied, you
could live in it for two, three,

361
00:12:20,867 --> 00:12:22,214
four years, like however long you
want.

362
00:12:22,214 --> 00:12:25,480
If it's a brief $400,000 condo,
and then you leapfrog into that

363
00:12:25,480 --> 00:12:27,992
next property, you can always
convert the one you just bought

364
00:12:27,992 --> 00:12:29,899
three or four years ago into a
rental, right?

365
00:12:29,799 --> 00:12:31,969
It's not like, Hey, you bought
this, you're locked into it

366
00:12:31,933 --> 00:12:32,220
forever.

367
00:12:32,380 --> 00:12:33,858
If the market goes down by 10,000

368
00:12:33,858 --> 00:12:37,313
bucks, you're going to have to
sell it at a loss to then buy your

369
00:12:37,413 --> 00:12:38,341
next house for your family.

370
00:12:38,341 --> 00:12:39,314
There's a few exit strategies

371
00:12:39,314 --> 00:12:39,584
there.

372
00:12:39,584 --> 00:12:41,497
If there's equity in it, you can

373
00:12:42,375 --> 00:12:42,753
refi it.

374
00:12:42,753 --> 00:12:44,128
I think that's probably the most

375
00:12:44,128 --> 00:12:46,580
powerful thing that people have
done to build their portfolio is

376
00:12:46,900 --> 00:12:49,259
they buy one house, call it a
five, $600,000 house.

377
00:12:49,259 --> 00:12:52,980
It goes up in value by 10, 15, 20%
over a few years.

378
00:12:52,880 --> 00:12:57,018
If there's equity there, you can
draw out up to 80% loan value of

379
00:12:57,018 --> 00:12:58,355
that equity, tax-free.

380
00:12:58,255 --> 00:13:00,509
Might I say, it's not a taxable

381
00:13:00,609 --> 00:13:02,109
event, so there's no capital gains
on it.

382
00:13:02,209 --> 00:13:05,902
You can then deploy that money
into another property if you can

383
00:13:05,902 --> 00:13:06,636
be qualified for it.

384
00:13:06,636 --> 00:13:08,411
And you can either buy a new

385
00:13:08,411 --> 00:13:11,390
property, which is a rental, or
you can convert the one you're in,

386
00:13:11,490 --> 00:13:12,422
which would be a rental.

387
00:13:12,422 --> 00:13:14,411
So that's the most powerful part

388
00:13:14,411 --> 00:13:17,267
of this is to leapfrog and buy one
more property.

389
00:13:17,267 --> 00:13:20,316
Because you want to put the equity
from one of those properties into

390
00:13:20,216 --> 00:13:20,794
another one.

391
00:13:20,794 --> 00:13:22,008
There's tax advantages to it.

392
00:13:22,108 --> 00:13:25,330
You don't have to then liquidate
and sell that property and pay a

393
00:13:25,330 --> 00:13:26,720
huge amount in tax.

394
00:13:26,720 --> 00:13:27,748
the cost to move, you don't have

395
00:13:27,748 --> 00:13:30,928
any then liquidate and sell that
property and pay a huge amount in

396
00:13:30,928 --> 00:13:35,350
tax you know and like the cost to
move like you don't have any of

397
00:13:35,350 --> 00:13:38,809
that yeah so yeah another thing is
too is that you can get an insured

398
00:13:38,809 --> 00:13:43,846
mortgage like you can get a less
than 20 down like it's not just

399
00:13:43,846 --> 00:13:46,700
your first house it's your
principal residence so you could

400
00:13:46,700 --> 00:13:50,549
live in your first house even save
up the five percent or however

401
00:13:50,549 --> 00:13:54,166
much ten percent it is whatever
you need for the down payment on

402
00:13:54,166 --> 00:13:56,662
your second house and you can
either break your first mortgage

403
00:13:56,662 --> 00:14:00,427
and do that, or just save up
another down payment to do that

404
00:14:00,427 --> 00:14:03,216
again and just not sell your first
one and just start like

405
00:14:03,216 --> 00:14:05,658
leapfrogging and leaving five, six
houses in the wake over time,

406
00:14:05,658 --> 00:14:05,872
right.

407
00:14:05,872 --> 00:14:07,652
That you just own, you just never

408
00:14:07,752 --> 00:14:08,250
sold.

409
00:14:08,150 --> 00:14:08,293
Yeah.

410
00:14:08,293 --> 00:14:11,696
like, there's a lot of strategies
here to really let your network

411
00:14:11,696 --> 00:14:15,444
take off over things that are just
going to be existing anyway.

412
00:14:15,444 --> 00:14:15,763
Right.

413
00:14:15,763 --> 00:14:16,002
Yeah.

414
00:14:16,002 --> 00:14:20,286
And I think, you know, when buying
that next property, if it does

415
00:14:20,286 --> 00:14:23,591
have a basement suite and you, you
know, you turn your first property

416
00:14:23,591 --> 00:14:26,054
into a rental and then you buy
another one with a basement suite

417
00:14:26,054 --> 00:14:27,537
and then maybe you finally get
that dream house as your third

418
00:14:27,516 --> 00:14:27,575
house.

419
00:14:27,575 --> 00:14:27,665
Great.

420
00:14:27,665 --> 00:14:28,879
Now you have three rental doors,
you house hack through all of

421
00:14:28,828 --> 00:14:29,028
them.

422
00:14:28,947 --> 00:14:29,923
The only thing I would say is just

423
00:14:29,872 --> 00:14:31,960
fundamentally analyze deals, make
sure it works for you, make sure

424
00:14:31,960 --> 00:14:34,600
you have a contingency fund that
you're able to carry the debt if

425
00:14:34,600 --> 00:14:38,145
you have any vacancy for a couple
of months, or if there's any

426
00:14:38,145 --> 00:14:39,567
repairs that you need to do.

427
00:14:39,567 --> 00:14:40,813
Going back to an abundant mindset,

428
00:14:40,813 --> 00:14:41,616
think on a larger scale.

429
00:14:41,616 --> 00:14:43,042
Don't go and try and buy a

430
00:14:43,042 --> 00:14:44,696
$200,000 property if you're
approved for a $500,000 property.

431
00:14:44,696 --> 00:14:47,206
Maybe buy two properties or maybe
buy that $500,000 split level

432
00:14:47,206 --> 00:14:49,960
rental property and go with the
flow of the government as much as

433
00:14:49,960 --> 00:14:51,342
it pains me to say it.

434
00:14:51,342 --> 00:14:53,206
They're preaching, hey, we want

435
00:14:53,106 --> 00:14:53,690
densification in transit
locations.

436
00:14:53,690 --> 00:14:54,959
We don't want short-term rentals.

437
00:14:54,859 --> 00:14:55,816
Just read what the government's

438
00:14:55,816 --> 00:14:59,241
pushing out, go to some of these
public hearings and, you know,

439
00:14:59,241 --> 00:15:01,972
follow what they're saying, buy
the product that they want to see

440
00:15:01,972 --> 00:15:02,194
built.

441
00:15:02,194 --> 00:15:04,613
And a lot of that right now is

442
00:15:04,613 --> 00:15:05,080
purpose-built rentals.

443
00:15:05,080 --> 00:15:06,225
People have been super successful.

444
00:15:06,225 --> 00:15:08,456
Do we think that market's probably
a little bit saturated?

445
00:15:08,456 --> 00:15:08,638
Yeah.

446
00:15:08,638 --> 00:15:09,966
But you know, if we were listening

447
00:15:09,966 --> 00:15:12,006
to the government and CMHC and MLI
Select 10 years ago, and people

448
00:15:12,006 --> 00:15:14,505
were building these purpose-built
rentals, well, you'd be sitting

449
00:15:14,505 --> 00:15:15,820
pretty happy with yourself right
now.

450
00:15:15,820 --> 00:15:19,079
So yeah, unfortunately, I got to
say it, but yeah, listen to where

451
00:15:19,058 --> 00:15:19,820
the government's directing this.

452
00:15:19,820 --> 00:15:21,112
only going to make things easier

453
00:15:21,112 --> 00:15:21,481
for you.

454
00:15:21,481 --> 00:15:23,891
Okay, next topic, working with a

455
00:15:23,891 --> 00:15:25,282
team that you align with.

456
00:15:25,282 --> 00:15:28,069
So I think Matt and I are both

457
00:15:28,069 --> 00:15:29,123
pretty passionate about this.

458
00:15:29,123 --> 00:15:30,780
And when we're talking about a

459
00:15:30,780 --> 00:15:33,074
team, we mean everyone from a real
estate agent, mortgage broker,

460
00:15:33,074 --> 00:15:34,361
accountant, lawyer, contractors,
pretty much anyone in this

461
00:15:34,361 --> 00:15:35,566
transaction, appraisal companies.

462
00:15:35,466 --> 00:15:37,172
You just want to find people

463
00:15:37,172 --> 00:15:37,718
you're aligned with.

464
00:15:37,718 --> 00:15:39,288
You want to educate yourself

465
00:15:39,288 --> 00:15:43,817
enough just to be able to sift
through and find the right people

466
00:15:43,817 --> 00:15:47,821
for you and have the best interest
at heart for you.

467
00:15:47,821 --> 00:15:49,167
I'll highlight somebody right now.

468
00:15:49,167 --> 00:15:51,271
So I think lawyers are super

469
00:15:51,271 --> 00:15:51,439
important.

470
00:15:51,439 --> 00:15:52,790
Some transactions are pretty

471
00:15:52,890 --> 00:15:57,727
cookie cutter and notaries can
carry out no problem.

472
00:15:57,627 --> 00:16:01,379
But we're talking about say,
leased land property specific to

473
00:16:01,379 --> 00:16:05,447
West Kelowna, which there are a
lot of leased land properties.

474
00:16:05,447 --> 00:16:08,338
Instantly, if I see that come
across my desk, I'm going to Barry

475
00:16:08,332 --> 00:16:08,532
Pirelli.

476
00:16:08,526 --> 00:16:09,524
The guy has literally written most

477
00:16:09,524 --> 00:16:10,451
leases in West Kelowna.

478
00:16:10,451 --> 00:16:12,901
He knows them inside and out.

479
00:16:12,901 --> 00:16:16,313
Things like that can absolutely
kill a deal for you.

480
00:16:16,313 --> 00:16:19,667
So just find the right people,
build that team and give them some

481
00:16:19,667 --> 00:16:22,611
trust and ask questions, but don't
try and question their best

482
00:16:22,511 --> 00:16:24,666
interest if you feel really with
them.

483
00:16:24,766 --> 00:16:28,302
Also, every deal is nice and fun
at the start, right?

484
00:16:28,402 --> 00:16:31,395
So if you hire a notary because
you want to save $500 at closing,

485
00:16:31,395 --> 00:16:33,408
things don't go south at the
start.

486
00:16:33,376 --> 00:16:36,936
They go south later on, right?
When you move in and something's

487
00:16:36,936 --> 00:16:37,239
wrong.

488
00:16:37,239 --> 00:16:38,900
It's nice to have firepower like

489
00:16:39,300 --> 00:16:39,984
that at your back.

490
00:16:39,984 --> 00:16:41,522
You regret it sometimes if you

491
00:16:41,522 --> 00:16:41,806
don't.

492
00:16:41,906 --> 00:16:43,800
So I think that's a great one to

493
00:16:43,800 --> 00:16:47,681
use a lawyer that you like,
respective for your transactions,

494
00:16:47,781 --> 00:16:52,940
but I think that's a huge one.

495
00:16:52,940 --> 00:16:53,102
Yeah.

496
00:16:53,102 --> 00:16:56,045
It's an insurance policy.

497
00:16:55,945 --> 00:16:58,300
Some of these people are going to

498
00:16:58,300 --> 00:17:00,158
cost a little bit more money.

499
00:17:00,158 --> 00:17:02,280
If you want to do a private sale,

500
00:17:02,280 --> 00:17:04,859
feel free, but it may sit on the
market much longer.

501
00:17:04,859 --> 00:17:06,804
You may not get as much money for
it.

502
00:17:06,804 --> 00:17:09,443
Private purchase, there's really
no reason not to be represented.

503
00:17:09,443 --> 00:17:12,410
It doesn't cost you any money.

504
00:17:12,410 --> 00:17:14,709
You're getting access to a real

505
00:17:14,709 --> 00:17:18,104
estate agent that can bring up
comparables in the area and

506
00:17:18,104 --> 00:17:20,364
analyze what that property is
worth.

507
00:17:20,263 --> 00:17:24,082
If you want to take it one step
further, you could go and hire an

508
00:17:24,082 --> 00:17:25,738
appraisal company, pay them a few
hundred bucks.

509
00:17:25,738 --> 00:17:29,049
There's lots of professionals that
are really good and there's a few

510
00:17:29,049 --> 00:17:31,024
that are not so good.

511
00:17:31,024 --> 00:17:32,526
So just get educated enough to

512
00:17:32,526 --> 00:17:35,015
figure out who's good and who's
not and work with them.

513
00:17:35,015 --> 00:17:36,657
Same with mortgage brokers.

514
00:17:36,657 --> 00:17:38,534
There's a lot of great mortgage

515
00:17:38,534 --> 00:17:39,885
brokers out there.

516
00:17:39,785 --> 00:17:41,789
We generally work with most banks,

517
00:17:41,789 --> 00:17:44,445
credit unions, monoline lenders,
and every product's really

518
00:17:44,545 --> 00:17:45,773
specific to an individual.

519
00:17:45,773 --> 00:17:47,481
We need to figure out if you're

520
00:17:47,381 --> 00:17:50,721
looking at refining or breaking or
selling that property in the next

521
00:17:50,721 --> 00:17:53,815
few years, how to calculate the
interest rate differential.

522
00:17:53,815 --> 00:17:56,808
Maybe you're best to go into a
variable product and not a

523
00:17:56,808 --> 00:17:58,809
five-year fixed or maybe a
three-year fixed.

524
00:17:58,809 --> 00:18:00,123
Every scenario is so different.

525
00:18:00,123 --> 00:18:01,671
So just find those good people you

526
00:18:01,671 --> 00:18:04,327
want to work with and also try and
add some value to their life.

527
00:18:04,327 --> 00:18:05,723
It's not just a one-way street.

528
00:18:05,723 --> 00:18:07,118
If you're working with a lawyer,

529
00:18:07,118 --> 00:18:09,977
yeah, you're free to ask questions
and they're going to charge you a

530
00:18:09,977 --> 00:18:11,081
little bit of money for it.

531
00:18:11,081 --> 00:18:12,678
But also try and be grateful and

532
00:18:12,678 --> 00:18:15,138
maybe give them a referral because
you never know when you're going

533
00:18:15,138 --> 00:18:16,135
to need them again.

534
00:18:16,135 --> 00:18:17,749
They're not going to charge any

535
00:18:17,749 --> 00:18:19,021
money to ask some questions.

536
00:18:19,121 --> 00:18:20,929
It's all included in the price

537
00:18:20,929 --> 00:18:21,044
rate.

538
00:18:21,044 --> 00:18:21,160
Yeah.

539
00:18:21,260 --> 00:18:23,644
Same with your mortgage worker and
your agent.

540
00:18:23,544 --> 00:18:24,769
So fire away.

541
00:18:24,769 --> 00:18:26,380
Ask all the questions you need and

542
00:18:26,380 --> 00:18:27,862
they're there to help you.

543
00:18:27,862 --> 00:18:30,174
I think that's great advice.

544
00:18:30,174 --> 00:18:33,412
All right, Taylor, let's talk
about opportunities in this

545
00:18:33,412 --> 00:18:33,523
market.

546
00:18:33,523 --> 00:18:34,522
Where are the opportunities?

547
00:18:34,522 --> 00:18:35,910
Yeah, we really like pre-sales
right now.

548
00:18:36,010 --> 00:18:38,503
I think pre-sales is a major
opportunity in this market,

549
00:18:38,503 --> 00:18:38,609
honestly.

550
00:18:38,609 --> 00:18:40,198
Look at all the buildings.

551
00:18:40,198 --> 00:18:41,575
They're all offering incentives,
whether it's low deposits, 10%

552
00:18:41,575 --> 00:18:44,793
down, 5% down, 0% down, which
we'll talk about in a second.

553
00:18:44,793 --> 00:18:45,630
But think about this.

554
00:18:45,630 --> 00:18:47,366
Let's take Water Street by the

555
00:18:47,466 --> 00:18:47,944
Park.

556
00:18:47,844 --> 00:18:48,921
Right now, they're selling a

557
00:18:48,921 --> 00:18:50,694
two-bedroom unit for $679,000.

558
00:18:50,594 --> 00:18:52,012
Beautiful unit right downtown

559
00:18:52,012 --> 00:18:53,206
overlooking the lake.

560
00:18:53,306 --> 00:18:56,449
You can buy it for 10% down.

561
00:18:56,449 --> 00:18:58,741
So you put down $67,000 or call it
$70,000.

562
00:18:58,741 --> 00:19:01,924
You think about it, 2026, you have
to close on this property.

563
00:19:01,924 --> 00:19:04,620
So by then, the interest rates are
going to be lower.

564
00:19:04,620 --> 00:19:08,119
The market is likely going to be a
little hotter right now.

565
00:19:08,119 --> 00:19:11,591
Obviously we don't know for sure
what's going to happen there, but

566
00:19:11,491 --> 00:19:15,111
you're locking into this property
that you don't have to close on

567
00:19:15,111 --> 00:19:16,587
for two years for 10% down.

568
00:19:16,587 --> 00:19:18,376
And you don't have to pay any

569
00:19:18,376 --> 00:19:19,942
monthly fee during that time.

570
00:19:19,942 --> 00:19:21,914
And you get a beautiful property

571
00:19:21,914 --> 00:19:23,223
in the middle of Kelowna.

572
00:19:23,223 --> 00:19:24,816
People are going to be kicking

573
00:19:24,816 --> 00:19:26,296
themselves for not buying that
building, including myself.

574
00:19:26,296 --> 00:19:28,345
Honestly, full disclosure, I'm
actively working to buy a unit in

575
00:19:28,345 --> 00:19:30,290
there because I just think it's
such a good opportunity.

576
00:19:30,290 --> 00:19:32,960
So Taylor and I were just talking
about, we saw in Revo is offering

577
00:19:32,960 --> 00:19:34,320
studio apartments right now,
starting at $289,000 for 0%

578
00:19:34,320 --> 00:19:37,043
deposit, closing in, I think, was
it 2025, Taylor, or 2026?

579
00:19:37,043 --> 00:19:40,504
Basically not closing for a year
or so away for zero down.

580
00:19:40,504 --> 00:19:41,412
That is an unbelievable
opportunity.

581
00:19:41,412 --> 00:19:42,204
You have to be careful.

582
00:19:42,204 --> 00:19:44,380
You still have to be able to close

583
00:19:44,380 --> 00:19:45,926
on that property.

584
00:19:45,926 --> 00:19:49,004
So you will need to save up the 5%

585
00:19:49,004 --> 00:19:52,124
down to buy it and get approved
for a mortgage sometime between

586
00:19:52,124 --> 00:19:54,340
now and when it closes.

587
00:19:54,700 --> 00:19:55,480
But these are opportunities that

588
00:19:55,600 --> 00:19:59,447
just don't happen when the market
is cooking.

589
00:19:59,547 --> 00:20:02,925
And then you can fully take
advantage of the market right now.

590
00:20:02,877 --> 00:20:02,937
Yeah.

591
00:20:02,937 --> 00:20:04,160
We also love upsizing right now.

592
00:20:04,160 --> 00:20:08,525
We kind of touched on this earlier
is like when the market's down and

593
00:20:08,525 --> 00:20:13,984
you need to sell your house or
this can go into point three is

594
00:20:13,984 --> 00:20:15,644
turn your current place into a
rental and upsize.

595
00:20:15,644 --> 00:20:16,934
But upsizing is awesome.

596
00:20:17,034 --> 00:20:19,527
The market's down right now or

597
00:20:19,427 --> 00:20:20,630
it's a little flat.

598
00:20:20,630 --> 00:20:22,593
think about this logically.

599
00:20:22,593 --> 00:20:23,802
Let's just call the market down
10%.

600
00:20:23,802 --> 00:20:24,599
Let's just say that.

601
00:20:24,499 --> 00:20:25,615
I don't know if it is.

602
00:20:25,615 --> 00:20:28,020
Let's just say it's down 10% and
you have a $600,000 townhouse, and

603
00:20:28,020 --> 00:20:29,407
you have a $900,000 house.

604
00:20:29,307 --> 00:20:31,160
10% means it's down $60,000 on the

605
00:20:31,160 --> 00:20:32,189
townhouse and $90,000 on the
house.

606
00:20:32,189 --> 00:20:34,600
So you just made $30,000 selling
one and buying the other, or

607
00:20:34,600 --> 00:20:37,124
moving out of one and buying the
other, even though they're both

608
00:20:37,124 --> 00:20:39,270
down the same percentage, right?
So upsizing right now is a great

609
00:20:39,270 --> 00:20:40,695
way to take advantage of the
depressed market.

610
00:20:40,695 --> 00:20:43,381
Also, some products are selling
way better than others.

611
00:20:43,381 --> 00:20:44,175
For example, townhouses.

612
00:20:44,175 --> 00:20:45,003
They're like one of the products

613
00:20:45,003 --> 00:20:47,487
in the Okanagan that is actually
pretty hot to buy right now.

614
00:20:47,487 --> 00:20:51,633
So if you have a townhouse to
sell, you can sell it when the

615
00:20:51,633 --> 00:20:56,908
market is high and go buy a single
family property that isn't as hot

616
00:20:56,908 --> 00:21:00,849
right now and save even more than
just the regular 10% down because

617
00:21:00,849 --> 00:21:02,669
the townhouse might not be down at
all.

618
00:21:02,669 --> 00:21:05,398
And then the single family host is
10%, So 10%.

619
00:21:05,398 --> 00:21:07,556
like not only the difference on
the prices, but also just the

620
00:21:07,556 --> 00:21:09,319
regular 10% down because the
townhouse might not be down at And

621
00:21:09,319 --> 00:21:09,430
all.

622
00:21:09,430 --> 00:21:10,873
then the single family house is

623
00:21:10,873 --> 00:21:11,872
10, So 10%.

624
00:21:11,872 --> 00:21:13,677
like not only the difference on

625
00:21:13,677 --> 00:21:16,156
the prices, but also just the
difference in the products gives

626
00:21:16,256 --> 00:21:18,543
you a huge opportunity to take
advantage of right now.

627
00:21:18,543 --> 00:21:21,805
and again, like tax, tax, tax,
you're avoiding capital gains if

628
00:21:21,905 --> 00:21:23,205
you're going to ride that
appreciation wave.

629
00:21:23,205 --> 00:21:26,403
So if you can afford that larger
house and maybe even has that

630
00:21:26,403 --> 00:21:28,934
basement suite, like, Hey, upsize,
get the basement suite for the

631
00:21:28,934 --> 00:21:31,351
rental income, help get the
approval and then ride the

632
00:21:31,451 --> 00:21:33,354
appreciation, hopefully tax-free
in the future.

633
00:21:33,254 --> 00:21:36,547
The other one we really like is
buying condos with furniture in

634
00:21:36,547 --> 00:21:38,297
This short-term rental thing has
created an interesting opportunity

635
00:21:38,297 --> 00:21:38,852
for first-time homebuyers.

636
00:21:38,852 --> 00:21:39,620
You're a first-time homebuyer and

637
00:21:39,620 --> 00:21:43,140
you want to go buy a place and you
don't have any furniture or

638
00:21:43,140 --> 00:21:43,220
anything.

639
00:21:43,220 --> 00:21:45,540
Imagine this, a market full of

640
00:21:45,540 --> 00:21:49,243
properties, fully furnished on the
market for sale.

641
00:21:49,243 --> 00:21:52,977
Like how often does that happen?
You know, like these are the

642
00:21:52,977 --> 00:21:55,611
things that if you work with an
agent, they can tell you about,

643
00:21:55,611 --> 00:21:57,417
these are the opportunities that
you can take advantage of.

644
00:21:57,357 --> 00:22:00,354
Like if you go look on Sunset in
Kelowna, like there's a lot of

645
00:22:00,354 --> 00:22:03,573
listings down there, right
downtown, one of the most

646
00:22:03,473 --> 00:22:05,556
beautiful streets in Kelowna.

647
00:22:05,556 --> 00:22:07,954
And there is a ton of listings

648
00:22:07,854 --> 00:22:08,216
there.

649
00:22:08,216 --> 00:22:09,352
And probably 30% of them are

650
00:22:09,352 --> 00:22:09,920
coming furniture.

651
00:22:09,920 --> 00:22:11,537
in the market, it just circles

652
00:22:11,537 --> 00:22:13,801
back to that main one of being
abundant, like finding the

653
00:22:13,901 --> 00:22:15,728
opportunities, you know, not
opportunities in terms of taking

654
00:22:15,728 --> 00:22:17,958
advantage, but adding value, you
know, people that are selling

655
00:22:17,958 --> 00:22:18,850
Airbnbs that are furnished.

656
00:22:18,850 --> 00:22:20,552
Well, do they want to sell it

657
00:22:20,552 --> 00:22:23,629
furnished and be headache free and
get a little money for it?

658
00:22:23,629 --> 00:22:25,628
Or do they want to sell it, you
know, unfurnished and then have to

659
00:22:25,456 --> 00:22:26,486
sell everything on marketplace and
deal with all the crazy on

660
00:22:26,371 --> 00:22:26,571
marketplace.

661
00:22:26,456 --> 00:22:27,422
So like might not ever sell on the

662
00:22:27,328 --> 00:22:27,392
marketplace.

663
00:22:27,392 --> 00:22:27,911
They might, but they might not.

664
00:22:27,796 --> 00:22:27,860
Yeah.

665
00:22:27,860 --> 00:22:28,464
And like if they're selling their

666
00:22:28,428 --> 00:22:28,754
previous Airbnb unit, it's coming
first.

667
00:22:28,754 --> 00:22:28,967
Yeah.

668
00:22:28,967 --> 00:22:29,373
Almost certain, right.

669
00:22:29,222 --> 00:22:31,735
It's just not worth it to try and
get rid of that stuff elsewhere.

670
00:22:31,735 --> 00:22:32,536
That's a major opportunity.

671
00:22:32,536 --> 00:22:35,461
I think that would help out a lot

672
00:22:35,361 --> 00:22:36,179
of people.

673
00:22:36,179 --> 00:22:36,588
Yeah.

674
00:22:36,588 --> 00:22:39,556
So just to quickly recap those
five points, abundance style

675
00:22:39,456 --> 00:22:40,533
mindset, owning your own primary
residence.

676
00:22:40,533 --> 00:22:44,434
So time in the market is way more
important than timing the market,

677
00:22:44,434 --> 00:22:46,244
like real estate for the longterm,
right?

678
00:22:46,244 --> 00:22:51,214
So if you're going to be there for
the longterm, it's always a good

679
00:22:51,214 --> 00:22:53,687
time to buy real Owning your own
primary residence.

680
00:22:53,687 --> 00:22:55,486
Lots of good benefits there.

681
00:22:55,486 --> 00:22:58,578
We know it's a little bit

682
00:22:58,578 --> 00:23:01,160
difficult sometimes to get into
the market.

683
00:23:01,160 --> 00:23:02,699
But not impossible.

684
00:23:02,599 --> 00:23:04,284
I feel like we're overstating how

685
00:23:04,284 --> 00:23:04,705
difficult it is.

686
00:23:04,705 --> 00:23:05,179
It's not impossible.

687
00:23:05,179 --> 00:23:07,911
You need to save about 15 grand to
get Like in.

688
00:23:07,811 --> 00:23:09,412
that's kind of a $300,000 harder
place.

689
00:23:09,412 --> 00:23:10,196
It's not impossible.

690
00:23:10,196 --> 00:23:12,100
You need to save about 15 grand to

691
00:23:12,100 --> 00:23:12,964
get That's in.

692
00:23:12,864 --> 00:23:13,922
kind of a $300,000 harder place.

693
00:23:13,885 --> 00:23:14,290
That's not impossible.

694
00:23:14,253 --> 00:23:15,560
So if there's two of you and you

695
00:23:15,780 --> 00:23:17,648
need a two bedroom, you need 450.

696
00:23:17,648 --> 00:23:19,021
So you need like $27,000 or

697
00:23:19,021 --> 00:23:19,461
whatever that is.

698
00:23:19,461 --> 00:23:20,432
No, not even, 20,000.

699
00:23:20,398 --> 00:23:22,392
So it's hard, but it's not
Depending on the family situation,

700
00:23:22,392 --> 00:23:25,534
you can get a gift down payment
letter.

701
00:23:25,434 --> 00:23:31,643
There's a lot of different
situations that can help out with

702
00:23:31,643 --> 00:23:32,048
that.

703
00:23:32,048 --> 00:23:35,692
Next up is buying a rental

704
00:23:35,692 --> 00:23:36,097
property.

705
00:23:36,197 --> 00:23:38,796
Obviously, we always encourage

706
00:23:38,796 --> 00:23:41,361
rental property purchases done
correctly, analyzed correctly,

707
00:23:41,361 --> 00:23:43,790
with good fundamentals.

708
00:23:43,790 --> 00:23:46,639
Obviously, we're trying to get

709
00:23:46,539 --> 00:23:48,510
some cash flow out of it.

710
00:23:48,610 --> 00:23:50,955
At the very least, breaking even.

711
00:23:50,855 --> 00:23:54,391
You think about if you buy a
property and you got to pay for it

712
00:23:54,391 --> 00:23:55,241
every month, that's just
unsustainable.

713
00:23:55,241 --> 00:23:57,148
You can't negative cashflow every
month and expect to scale.

714
00:23:57,148 --> 00:23:59,830
You might be able to do that with
one, but it's not that great.

715
00:23:59,830 --> 00:24:01,923
It needs to break even at the very
least.

716
00:24:01,923 --> 00:24:04,297
If you can make some money on it,
that's actually stellar too.

717
00:24:04,281 --> 00:24:04,372
Yeah.

718
00:24:04,372 --> 00:24:05,720
And keep in mind, you're

719
00:24:05,720 --> 00:24:06,200
leveraging that asset.

720
00:24:06,300 --> 00:24:07,418
You're leveraging the bank's money

721
00:24:07,418 --> 00:24:08,846
to buy a property.

722
00:24:08,846 --> 00:24:11,566
So there's not many assets in the

723
00:24:11,466 --> 00:24:12,613
world that you'd feel comfortable
doing that.

724
00:24:12,613 --> 00:24:14,445
The fourth one, which I feel is
probably the most important is

725
00:24:14,431 --> 00:24:16,592
working with a team you align
with, you know, just find the

726
00:24:16,592 --> 00:24:21,575
right people who you like to deal
with, who you don't mind having a

727
00:24:21,475 --> 00:24:25,280
phone call with and eating up for
coffee and provide some value to

728
00:24:25,280 --> 00:24:27,859
them and hope they provide some
value to you.

729
00:24:27,818 --> 00:24:28,295
Lastly, finding those
opportunities.

730
00:24:28,395 --> 00:24:29,963
Again, it's not like looking for
an opportunity to take advantage

731
00:24:29,963 --> 00:24:30,440
of someone.

732
00:24:30,720 --> 00:24:31,580
It's an opportunity that, Hey,

733
00:24:31,556 --> 00:24:34,194
there's something that I can add
value to somebody else's life.

734
00:24:34,194 --> 00:24:36,368
If it's a developer buying those
pre-sales, if it's upsizing, if

735
00:24:36,368 --> 00:24:38,024
it's buying something with
furniture, just look at solutions.

736
00:24:38,123 --> 00:24:41,287
A lot of real estate investors
have problems right now in terms

737
00:24:41,287 --> 00:24:42,854
of high interest rates or having
Airbnb properties, provide them

738
00:24:42,770 --> 00:24:43,155
with a solution.

739
00:24:42,985 --> 00:24:43,549
And that comes with a monetary

740
00:24:43,534 --> 00:24:44,638
value of what you're going to be
able to negotiate.

741
00:24:44,530 --> 00:24:45,194
So look for opportunities by
solving problems.

742
00:24:45,024 --> 00:24:45,275
Well, was fun.

743
00:24:45,272 --> 00:24:46,746
If you have any questions, please

744
00:24:46,846 --> 00:24:48,554
reach out to Taylor and We'd I.

745
00:24:48,554 --> 00:24:49,398
love to talk about this.

746
00:24:49,398 --> 00:24:53,707
It's actually, we talk about it
not only on this podcast all the

747
00:24:53,807 --> 00:24:55,895
time, but every day in our lives
too.

748
00:24:55,895 --> 00:24:57,973
So we believe passionately in it.

749
00:24:57,973 --> 00:24:59,490
So if you have any questions, feel

750
00:24:59,490 --> 00:25:00,640
free to reach out.