Ever dreamed of leaving the 9-5 grind for the freedom of real estate investment?
Welcome back to the “Inspired To Invest” Podcast with Jon & Diana Benitez from Dijon Properties.
Diana and Jon, the force behind Dijon Properties, showcase how they transitioned from typical jobs to managing their successful property business.
Their journey from financial uncertainty to wealth generation through real estate is sure to ignite a spark in anyone seeking to take control of their financial future. Imagine working together with your spouse, not just in maintaining a home, but in building a thriving business.
Jon and Diana open up about how they’ve navigated challenges of merging personal and professional lives. They’ve learned to set boundaries, communicate effectively, and reflect on their shared vision, turning their partnership into a powerhouse for real estate success. They also candidly discuss the ups and downs of building a multi-family portfolio, dealing with difficult tenants, and staying optimistic when faced with adversity.
Finally, tune in as our guests reflect on the true impact of their real estate journey. It’s about more than just financial security – it’s about legacy building, work-life balance, and personal fulfillment. Get inspired by their favorite quotes, insights on leading with love, and the vision they have for their children’s future.
Let Jon and Diana’s profound conversation fuel your real estate aspirations!
Thank you to TruCapital Real Estate, Strategic Success Consulting & Infinite Real Estate Results for bringing us this month’s episodes of “Inspired To Invest”. To learn more about TruCapital , go to @investorcarleen on social and https://trucapitalrealestate.com online. For Strategic Success Consulting, go to @danielle.chiasson on social and for Infinite Real Estate Results, go to @KoryMacKinnon on social or https://linktr.ee/korymackinnon.
In addition, we are thrilled to announce a new giving component. “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 & @makinvestments. To learn more about the project and how you can contribute, go to https://more2give.ca/beyond. Together, we can build a brighter financial future for the next generation.
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 https://docs.google.com/forms/d/1p6SfS8dePhLl6wMmSgdPpQ7xsJuEsBUbPDTJ0vgy9h8/
Join us again on Wed., Dec. 20 for Ep27 with a real estate investor and award winning realtor® who started purchasing rental properties with joint venture partners back in 2008 to hedge against inflation and to put his family on the path to financial freedom.
Thanks for tuning in & remember, “when you invest in yourself, the sky’s the limit”
Speaker 1
00:01
Welcome to the Inspired 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 TruCapitalReal Estate, Strategic Success Consulting and Infinite Real Estate Results. Welcome to the Inspire to Invest podcast.
00:23
I have Diana and Jon. They’re the dynamic duo behind Dijon properties. They’re real estate investors and developers with a passion for design. They specialize in multi-family burs, renovations and development and its revision to add value and create beautiful spaces that make a positive impact. They not only transform homes, but they also want to transform lives, and they believe that everyone deserves a beautiful home to live in, and it’s their mission to do it nice or do it twice. They do it right because they want to create homes that have quality, safety. Dijon design and their values are integrity, connection, helping others and having fun. So, with that being said, welcome today, Dijon and Jon. How are you Hi? I’m Dijon Good, Dina, thanks for having us. Thanks for having us. Great, I’m glad to have you guys on. So obviously, you guys have a lot of big projects going on, but what I want to know first is really what life looked like before real estate came into your life in this capacity.
Speaker 2
01:22
Let’s start off with that.
Speaker 3
01:23
What did you like?
Speaker 2
01:24
What did you like before? Yeah, I just what Just?
Speaker 3
01:27
coasting? Yeah, we weren’t. We never really used to planwe never used to set goals. We just set goals. I think our mainif we ever had a goal, it was like oh, I’d really love to try to retire at 55. But we never really set goals and we actually weren’t evenand then this is my background because there was just too many big things happening in life. We never really had a good financial plan for our future.
Speaker 1
01:55
Yeah. So, then what changed that then? Obviously, you guys work together within your business. So what was the catalyst that made you think you know what we’ve got to do better, aspire for more.
Speaker 3
02:07
It was me, because my background is like I am a pension actuary and I think we were sort of done having kids. It was our second child, he was two years old and it’s like, okay, we need to start retirement planning because we weren’t really doing much on that end. And this is my background. I’m looking at the numbers okay, we need to save a lot of money just to even retire, I think, to have the same lifestyle. And again, we didn’t have any knowledge. So I’m thinking like indexed mutual funds at 5% return. That’s what.
02:43
I’m going to be my calculator and it was like, you know, to have this same lifestyle, we have to retire at 65 and save a lot of money. And it was just that it’s like that awareness, like, wow, okay, that’s a lot, that’s long and that’s a lot of money. Is there another way? Yeah, yeah, and then it was through learning and getting educated on the real estate, investing, the returns that you can get there and the long term and generational wealth you can build.
Speaker 2
03:14
Yeah, just jump in real quick. You read Rich Dad, Poor Dad, and then Change my mindset.
Speaker 1
03:19
She was trying to yeah, yeah, that’s a huge one.
Speaker 2
03:21
She was just trying to explain it to me real quick, but it was just going out the other ear.
Speaker 1
03:25
Yeah, I made my husband read that. I just don’t understand what I’m trying to do here. Yeah, yeah, that’s what it was.
Speaker 5
03:33
That’s exactly what happened to me.
Speaker 2
03:34
So she was just trying to you know, plant the seed, let’s see it grow. You know you got her this book, but at the point at that time I wasn’t. I just didn’t have time to read. So, yeah, go ahead. That’s just how the thing is.
Speaker 3
03:46
But I did make him come to this two hour free session where it talked a lot of it, all the different concepts and ways you can invest in real estate, like it’s not just active and owning a property, there’s passive ways too, and so that was the light bulb for him, and I think that’s when we, you know, committed like, okay, this is what we should do. Let’s invest the time and money and get the knowledge to do it right.
Speaker 1
04:16
Now, how long ago was that at this point? So I guess about four years maybe, yeah, 2019. Now, in terms of where you’re at right now. So I know that you’re still working, meaning like a regular JOB. But, John, are you still working or are you just fully working on your investing business at this point?
Speaker 2
04:35
A full time in the business as of last March. Yeah.
Speaker 1
04:38
And what was kind of the defining moment to move forward into transitioning?
Speaker 2
04:42
Well, we set a goal together in the beginning, which is again going back to setting goals. We never did so our first major goal was for me to leave in March and three years and it landed perfectly on March, so I don’t know Like yeah, we were just aligned, and I’m back at it Now.
Speaker 3
05:04
We were taking on two projects at the same time, so it was perfect time, yeah, and it was like, yes, it was three years, but it was also there was a point, too, where, like we needed help, like we were drowning, because we’re both working full time jobs, yeah, and it was like so you’re only working like evenings and weekends, and it gets tough and we have two young kids. So there are lots and lots of burnout. I mean there’s still times.
Speaker 1
05:34
But it was yeah Well. I think that’s what a lot of business owners and entrepreneurs deal with early on, right, like there’s that, like the scalability where you’re kind of wearing all of the different hats because you can’t necessarily afford to hire someone. Maybe, or maybe you don’t even know like what you need, right.
Speaker 3
05:49
Yeah, exactly, you don’t even know.
Speaker 1
05:50
You talk about like what your first property was, and then you know where you took that with your purple aid or where it is today.
Speaker 3
05:58
Mm. Hmm, our first. It’s like we call it the jet. It is a gem and it’s so funny. It’s on this street, it’s on a street called Emerald and it’s our gem and it’s our gold. You learn everything from your first. So our first was a four plaques and underperforming four plaques, and we were so naive at the time too, that, like to showing, we brought our kids with us. We brought our kids with us. We had no idea, we had never done this. We had the knowledge, we built a team, but, you know, never experienced this. But the kids, if we get there and like, as soon as the door open, we’re like, oh, turn them around, because there was cockroaches and boxes that were in there.
Speaker 2
06:35
There was cockroach traps that actually he hates every single one individually around the door.
Speaker 1
06:44
Oh my God, you’re in like a hazmat suit.
Speaker 3
06:47
Turn around like turn around. So I went back to the car with a glit Get out of here, Get out of here.
Speaker 1
06:50
Yeah, I turned around.
Speaker 2
06:51
What were you thinking? I’m like get out of here, Go back in the car. Let me deal with this.
Speaker 3
06:55
So going back in the car with the kids and then so John saw the property. I never saw it.
Speaker 2
07:01
She didn’t see it.
Speaker 3
07:02
Yeah, she didn’t see it, and he comes back and he’s like oh, this is it, like this is perfect, and I never saw it and maybe it’s a good thing. I didn’t see it because it was like, yeah, it was scary looking, it’s a big dropper. Yeah, it needs some work. It’s true, it was really bad. Yeah, it’s true. So it was underperforming for Plex and so it was a. It was a burr 13 months, but we really learned everything, really everything you could possibly touch on.
Speaker 1
07:32
We did, yeah, and they say that’s a true mark of an entrepreneur is not to see something as it is, but what it could be. So good on you guys for going ahead with that. So how did you actually fund that deal?
Speaker 3
07:44
You know that that one was our own Well OPM through our HELOC. Yeah, OK, we had never again. I mean we had mentality, I mean we’d never, ever refinance. Thought that was like always a big no. No, I think our goal was always just pay down the mortgage. Yeah, so we did do that. We refinanced and we use our HELOC.
Speaker 1
08:04
Yeah, so that was always the purchase price, and how much did you end up spending in renovations and what’s it worth today?
Speaker 3
08:10
Yeah, when we bought it for Plex and Hamilton back in 2019, it was 626. Yeah, 600 or 625. We just did lipstick renovations, so all in our costs for, like, I know these numbers because it was 143.
08:27
Ok, and then it got a one, and then it got appraised at, I think, 950. Ok, and so it was a perfect burr. It was and again, I guess it’s slow march, it’s it’s. It’s a bit challenging now in Ontario, but that was a perfect burr. It was lipstick, though, too as well, which is why that, I think, really kept the cost down. Yeah.
Speaker 2
08:49
And then still holding up yeah, yeah, it’s still cash flows because it cash flows.
Speaker 3
08:53
Well, I mean at the time, well, things have changed, but at that time it was flowing like $2,000 a month.
Speaker 1
08:59
Yeah, no, amazing. Now what does your portfolio look like at the moment?
Speaker 3
09:04
We have a lot of small mall links. We have small multi families for three. We have a 12 units. We’re almost completing an eight unit that we built, yeah. And then we know we tried out a flip last year. It was a, I mean we had. It was at the time too when rates were going up. So that’s things like you know. You don’t really know what?
Speaker 2
09:27
it was crazy because the we sold on the Monday and the rates went up on the Wednesday.
Speaker 1
09:32
They were right, so they were perfect. It was a raise.
Speaker 2
09:36
I don’t know if it was the first one or the second one.
Speaker 3
09:39
Great started in March 2022. And we went to market like April May. Yeah, oh good.
Speaker 1
09:44
Yeah, just as the tide was turning. So the time. Gods are on your side.
Speaker 3
09:48
Yeah, I know Well, yeah, and then we also have a short term rental cottage. I was that we’ve bought with our family, but we are being beat, so we have, we have that as well. So it was. And then, yeah, we’ve, we’ve gone to development. So we do have a development project. Yeah, long time in the works, working with the city to build a 20 unit in Hamilton.
Speaker 1
10:13
And is that your area of focus, specifically in Hamilton?
Speaker 3
10:16
It has been. It has been Hamilton. Yeah, it has yeah.
Speaker 1
10:19
And you think, as you continue to grow, you’ll stay in Ontario. Do you think you’ll venture out of province at all?
Speaker 3
10:25
I think that’s what we’re trying to figure out. Yeah, yeah, but that’s what we’re trying to figure out because, like I think it’s, we all know this, like in Ontario, and the landlord, tenant board and the pricing, I mean you have to just really look and yeah, it all comes down to the numbers, right? Yeah?
Speaker 1
10:44
Yeah. I know that makes perfect sense. Now I guess, when you look back at the last three, four years, what would you say you look at as your biggest success or something that you’re most proud of?
Speaker 2
10:55
That’s a great question, oh I know, narrow it down Like just besides all the learning right. Yeah.
Speaker 3
11:05
There’s a lot. We have to pick that, highlight what’s our biggest, yeah, I mean I think, like in what it’s like, it’s like everything it’s, it’s like it’s like it’s like it’s like it’s it’s also like you know, our brand, or like Dijon, it’s just. I will say one thing with that is we are so clear. That takes time to really like take the time to really set your, like you know, your core values, your vision, your mission, because when you do that, everything you do, yeah, and like just how you present yourself, the decisions you make, when you have that like sort of guiding star, yeah, it’s, it’s powerful. It’s powerful in how you make decisions and how you present yourself too. Yeah, another thing in this is, you know we, you also have to, like you know, build your reputation, build your trust, so you do have to put yourself out there to attract investors and and networking. So, like being consistent, very, being very clear on on that of your, your business, is really important. And I think another big success is just like all the relationships we built.
Speaker 4
12:24
Yeah.
Speaker 3
12:24
This is what this is about. It’s all the relationships you build and the connections, and everything is what helps you to grow and the opportunities you’ll find. So you just have to keep getting out there, keep networking.
Speaker 2
12:39
Yeah, it doesn’t stop.
Speaker 3
12:40
Cause there’s there’s a lot of challenges you’re going to face too. Yeah.
Speaker 1
12:43
Yeah, I think the community is so important in just having the resources and you know, obviously as an investor or an entrepreneur can be really isolating sometimes. Right, like obviously you guys work together, but sometimes if you have a question or seven issue, like knowing you can go back to your community and hopefully people can get where you, where you want to go faster or help you resolve an issue, that much more yeah.
13:04
I think all of that is so important and going back to your point, just about setting you know your goals and setting your, defining your mission and all of those things. Like you know, it’s fundamental to running a business. The same way, like a foundation is for house, like there’s a reason it supports everything that you do with the four decisions Help support your growth and your, your path forward, right? So I think all of that’s very important. Now, in terms of obstacles that you face, is there anything that you would look at as like one of the biggest challenges that you guys have had to overcome? I, I, I just like there’s a different faineness right Different phases we kind of find like reals, like when you I mean like.
Speaker 2
13:39
I think a lot of people’s path is, you know you start off, you get knowledge, you acquire.
Speaker 3
13:43
So it’s like it’s just that first phase when you’re acquiring yeah, you know you get proper. Then you realize after you a few more.
13:49
it’s like okay shoot, it’s a business you should, you need to systemize things, you need to systemize things and and hire. Then you realize that it’s kind of like you realize as you go, yeah, and then after that it then a lot becomes on the mindset part and the personal part of it. Yeah, then a lot becomes on the mindset part and the personal because you’re going to face a lot of different challenges and what. And then you, you have to start with we’ve had a lot of reflection action on the personal side because, like, we’re only as good as we are personally and health strong we are, like you know, at one point you may hit limits and sometimes those limits are actually yourself that are setting it back and you don’t even know it that you’re doing this, and it’s things we’ve actually just started to realize because we’re a married couple and then we had to start working together and we never know when.
14:41
It teaches you that and we have learned as we, as we got along. But we got to a point too where, like we having like strong communication, treating it like business, like having meetings together, yeah, like that, that takes work and we had to start looking at that because, as a married couple, like their time, like we’re fighting, we’re fighting, arguing, like that, those little squabbles, but do that? You don’t want to talk to each other, but you can’t do that when you’re working and you have a business together. One day of not talking actually suffers a lot.
Speaker 2
15:13
It’s sad as well.
Speaker 1
15:14
Yeah, and I think, compartmentalizing things as well. Right, like you don’t want to be sitting there having breakfast with your kids and talking about like your project, so sometimes you have to set those boundaries to know, like you know, we’re going to set this hour aside because we don’t want to for our children with our business.
Speaker 3
15:30
No, guilty like. There’s times where, just like they’re like she like that might like. They’re like are you talking or arguing? And then daddy’s like yeah, mom’s just so passionate because, yeah, so she’s excited.
Speaker 2
15:46
I say passionate.
Speaker 3
15:47
There’s been a lot of a good one Like yeah, a lot of reflection lately because we just sort of realized like well, yeah, just to add on top of what he’s saying we never, you know, we wanted to.
Speaker 2
15:57
We had meetings, dijon meetings, plenty, but every time we came to the table together it was just fireworks. We would just be, you know, we’d fight, I would shut down, and then that was it. And then it would set us back again, like a day, two days, sometimes a week. So again, that is not good for the business. So we were just like, okay, how do we fix this?
Speaker 3
16:17
So we need to fix it. I think that’s also part of like I mean, entrepreneurs like you’re always trying to be better. Yeah, like being better, being a better person. What can you do better for? You know, help others in your business, and I was like okay, but we need to, we need to work on this. Like this, this is this is not good, and so we we took the time to making those changes.
Speaker 1
16:39
I remember one said if you acknowledge something, you can change it, and I think one of the biggest challenges with anything is just people are in denial or they’re not willing to face something. But if you’re willing to, you know, look at the writing on the wall and be like you know this obviously needs to improve or we’re just going to hurt ourselves, whether that’s in the home or in the business. So I think that’s good as to you guys for working through that, because it is a very difficult thing to overcome. And when you look at the lessons that you’ve learned, is there anything that you think you know is a really important lesson that you would want to pass along to a newer investor that could be watching your listening?
Speaker 3
17:12
Yes, I think that yeah, well no, I think big ones take the emotion out.
Speaker 2
17:17
I think that was one of the that really, really resonated with me. When you know, quote, unquote, and now it’s just when that I heard that now it’s just like okay, let’s, let’s just keep going, like take it out in business. Yeah, actually it has a business, right, yeah. So yeah, that that was huge.
Speaker 3
17:34
Yeah, feel it but take the motion out. And then another problem a lot of is like is the mind. You are gonna like the mind. It’s like another person and those negative thoughts and that fear is gonna creep and say things to you, and especially when things are very challenging. So another big lesson is like learning to control those negative thoughts. You know like have a negative thought, acknowledge it, feel it and you have to. You know like literally you’re doing things to to switch that negative thought like either gratitude or you know like telling yourself, what is this trying to teach me?
Speaker 2
18:09
Yeah, yeah, you have to see the bright side, right.
Speaker 3
18:11
You can get really like and you know it can get. It can get dark and it can pull you back more and you don’t think clearly, and so that is when it’s the acknowledgement of those negative thoughts. I think is another one to yeah, work on yeah, no.
Speaker 1
18:27
I think that’s important and, on that note, we’re just going to take a really brief break forward from our sponsors and we’ll be right back.
Speaker 4
18:33
Hi, my name is Karleen Su and I’m the CEO of True Capital Real Estate. Our mission is to help busy professionals build lasting wealth. We focus on multi-family purpose-built rentals as a strategic and accessible investment strategy. Our goal is to demystify real estate investing and be your protested partner to handle all aspects from beginning to end, because, after all, it’s not actually about real estate. It’s about having a robust and secure financial future so you can focus on the people and things that you care about the most.
Speaker 1
19:05
Thanks again for following along with this episode of Inspired to Invest. In addition to real estate investing and running my own brand experience agency for 18 years, I also published a book called the Accidental Entrepreneur in October of 2021. This is my story and it chronicles how I turned tragedy into triumph to embrace my destiny in entrepreneurship. If you’re interested in picking up a copy, you can find the link at SerenaHomesRealtorcom and you can also find my link tree with all of the retailers in the details below. Thanks again for your support.
Speaker 5
19:40
I hope you’re enjoying the podcast and we’ll get you right back to it. But I have some exciting news to share. Myself from Strategic Success and Corey McKinnon from Infinite Results have banded together so we can bring to you an amazing platform where you can learn and grow and have support on your real estate journey. We’re building a community, we’re building the help and the support, we’ve got the coaching for you. We’ve got the content. So if you want more information and see how it can help you on your journey, click the link below in the show notes or click the link in my bio for more information.
Speaker 1
20:13
Welcome back to the Inspire to Invest podcast. I’ve got John and Diana here from Dijon Properties and they’re talking about how they jumped into real estate investing about four years ago, building up a big portfolio of multi-family in Hamilton, and some of the successes and challenges and lessons that have gone along with that. And if, that being said, I guess one big question I have for you guys is what’s the craziest thing that you’ve experienced as a real estate investor so far?
Speaker 3
20:38
I don’t know, I’m not going to start. Yes, I go with the boarding up story.
Speaker 2
20:41
We had okay, I’m going to try to make this quick yeah, so we, we, we, we. We victed a tenant and then the tenant was inherited and inherited tenant, heritage tenant. We got her court date court date evicted. She started moving out. And she started moving out. Her son came in and just started using it as a party room.
Speaker 3
21:01
He said he was helping her move, but he was using it as a party room, and that was like a trashy, trashing it, and all the tenants were. You know just you know, cops can’t do anything. Cops can’t do anything. Cops can’t do anything. It’s their son three times.
Speaker 2
21:15
And then, um yeah, I just told them like, hey man, I’m just going to, I’m just going to come into your unit to just do an inspection on the following week, and I just pretended you know I was there, became a hemorrhoid, just went in there every day and just you know, just you know, I know what’s going on?
Speaker 3
21:30
what’s going on right?
Speaker 2
21:31
This whole week I have a quarter, I can’t do anything, right? Yeah, I was boiling every night, couldn’t sleep. So on the Monday I went in there and he impacted all the doors shut with, with, with the X screws, and I was like, okay, let’s check up, check out the next door. And then he did the same thing he changed the lock on the main front. So we were like you got him, so now we got him.
Speaker 3
22:01
I well, we call the locksmith because, once you change a locks you can’t do that, so call the locksmith.
Speaker 2
22:06
But I did call the LTB, though, to to have it in writing, and I did speak with somebody that was very nice, and then he got it on her, and then, yeah, I was like, hey, what do we do now? We let this freaking board, because we don’t want this guy coming back, so we got in.
Speaker 3
22:19
We got in, changed all the locks because he’s not a tenant, yeah yeah and actually even board up all the windows to make sure he didn’t have access in there and said to him hey, if you want to get in your, your mother can be the one because she’s on the lease and she can be the one that can contact us. But she was out already, yeah yeah, and she never came back. So it worked, but you got to stick with it. But in terms of like, I don’t like. It sounds like a quick story.
22:46
But that that one, two weeks of that was like the emotions and the stress of like seeing your place getting trashed, yeah, and there’s nothing you can do. You’re asking the cops nothing they can do. We had new tenants. We had new tenants moving in. It’s like this is not what we want to show them. And consistency staying positive.
Speaker 2
23:08
Yeah, it’s definitely staying positive.
Speaker 3
23:10
Whenever?
Speaker 2
23:11
whenever it rains, there’ll always be sunshine, right Just got to.
Speaker 1
23:14
I think that’s. That’s honestly just one of the biggest challenges. Be an investor in Ontario, though. Right Is like the way that the LTB gives so much more control to the tenants in a lot of situations, and just the delays that certain things can happen. So I think it’s you know as much as that wasn’t your tenant like. I think that’s pretty great that it only lasted a week or two, because I’ve heard stories where people are stuck with the tenant for a whole lot longer than that in variable situations, whether it’s non-payment rent or you know.
23:41
I’ve got one client I’ve talked to for about a year and eight or nine months and she was supposed to have an eviction with her tenant. She got the ruling. They gave them six months to move out. They didn’t move out. So now, like she’s waiting on the sheriff to come and it’s turned into like an abusive situation Like they’ve. She’s actually charged them with assault, like they’re. They’ve dismantled like cameras around her property. There’s been some damage, and you know this is like a senior woman, you know what I mean. It’s just like so heartbreaking to hear about some of these stories. So I think at least, yeah, that’s definitely a silver lining that you guys got through and it was compressed to a shorter window of time. Now I know you guys really believe in investing in education and you know all the different things that go along with that. What’s some of the best advice you think you’ve ever been given?
Speaker 3
24:26
Best advice. I think one thing is always like always see how you can give value in everything you do, because if you lead with helping others first and always have that as you know and how you do things, it always just comes. It always just comes back Like yeah. So I think that’s one thing is just like we love to lead with service.
Speaker 1
24:53
Yeah, no, I think that makes sense. So we talked a little bit earlier just in terms of some of your future plans, but do you want to talk a little bit about the projects you’re working on right now or like what opportunities you might have available?
Speaker 3
25:05
Yeah, Like I mean, we’re working currently on an Aplex it’s big renovation funds so we were you know we had investors there for the renovation part of it and then even the stabilization of it, looking into even having investors actually be shareholders of that, because it’s just a beautiful building in the heart of downtown. And then we’re working and then our development project like at the time we haven’t structured yet because we’re sort of just doing all the planning phase and it’s a lot of consultation with the city and we’re almost there, yeah, but at a point now where we’re figuring out how we’re going to structure this deal, yeah.
25:46
And either bring on equity partners as well for that.
Speaker 1
25:49
So who do you lean on for guidance in a situation like that? Because obviously, if you’ve never done it before, like is it your lawyer guiding you? Or like a securities lawyer, like, who are you guys leaning on for that advice?
Speaker 3
26:00
Yeah, well, yeah, definitely, lawyers, accountants and as well as, like you know, our network, like we again connect to people that are in development, doing development. That’s even actually how we started, like this development project. It didn’t start off that way, you know. When we acquired it we thought we were just going to do a conversion and work within. And then it was when we discovered, oh, the zoning, this is downtown zoning, you know, you can do like up to six stories. It’s like oh, okay, and we kind of went into the path of development, learned that’s when we didn’t have all the answers. But again, if you have a very strong network and you’re connected there and you’ve got those relationships, it does become who do you turn to to ask? And so we had friends that are working on development. They connected us, they’re connecting us with their team, their lawyer, like their architects, their planners, engineers, and, yeah, learned as we went, but guided by professionals, yeah, yeah.
Speaker 1
27:00
I think that’s so important, just the power of relationships Now, I guess, taking a step back from real estate investing, but just in terms of what kind of an impact it’s had on your life, or the impact that you hope to see it have on your life. Like what would you say you know has made it so special for you and like how has it really changed things for both of you?
Speaker 2
27:19
Well, besides, besides you know me being full time in the business it’s also, it’s changed the, I guess, the dynamic between us two. We’ve, yeah, we’ve been focusing on ourselves and that now we bring our best self to the table now so we can finally have meetings, we can finally like we just now, we could just, yeah, we can put up with each other night and day.
Speaker 3
27:48
We’ve been together forever Like we’re high school sweethearts and you know, you learn as you grow and even just real estate investing, it was just a whole new learning of each other and faces, just because of the circumstances we put ourselves into. They were different, it was outside of our comfort zone and we had to learn and we always focus on being better, like I’m telling you, there’s times where it would really test the marriage and that could happen if you but you don’t give up and you strive to be better. I think it’s just like just even our life, like a. I think the impact, just the influence on our children. You don’t preach or anything like that to them, but they’re seeing what we’re doing, they’re seeing over what we’re doing and then they sort of understand the concept of investing and properties, yeah, and they see us.
Speaker 1
28:35
That’s ultimately going to be your legacy too, right?
28:37
So, depending on how you plan to capture things or the things that you show them I remember reading just talking about you know, having a job is hard and doing just different things is hard, and I think when it comes to marriages or relationships, one of the biggest challenges is just change.
28:53
Right, so you could change a job or you could change this, or, in this instance, you’re choosing real estate investing, but it comes with all of these longterm beneficial things for you, right? So at the end of the day, you choose your hard and you choose, like, what’s going to kind of get you and stuff like that, right. So it’s like you know you could find it hard going and grinding and a nine to five and stuff like that, and maybe not being able to support yourself properly in retirement, or you struggle through it for a little while now, but then you gain traction and starts rolling and then it’s going to open up all kinds of time and opportunity and, knowing that you’re leaving that legacy for your family, I think that you know it’s, it’s worth it and as long as, again, you’re acknowledging those things and pushing through it, I think that’s all just so much more important.
Speaker 3
29:34
Yeah, what we’re very mindful of, too is because, yes, did you do this for kids in this legacy and you love them to see that path. But we have to also be careful. Like we can’t be gone too much. We can’t be. Yeah, there’s a fine balance on who does what, where we go, because if they’re just calling to see that we’re gone, or we’re like who is in meetings, or we can’t like they’re going to resent all of this, absolutely yeah, and we were like that in the beginning and we learned from that, because they’re just like you’re always gone and they get angry. So we have fun together. They just, they just want you to be there, just want you there, yeah, you make for you to come home, right yeah.
Speaker 1
30:11
Well, at the end of the day, like we’re their entire world, until they’re probably like 10 years old, right? So I didn’t get that time back.
Speaker 3
30:18
Yeah, you can’t, you can’t. So very mindful of that too, yeah.
Speaker 1
30:23
Yeah, no, that makes perfect sense. Now, in terms of motivation and inspiration, are there any particular quotes that both of you are fond of?
Speaker 2
30:30
I write the quotes a lot. I do write them down when like it hits me, so I write it to. Actually I haven’t told you these ones, but goals without routines are wishes. Routines without goals are aimless. And then there’s this one where the only thing worse being blind is having sight with no vision.
Speaker 1
30:50
Yeah.
Speaker 2
30:52
So that kind of, they kind of you don’t know where you’re going.
Speaker 1
30:54
You could end up someplace else.
Speaker 2
30:56
And it’s like we’re very, very into our vision and mission, right.
Speaker 1
31:01
Yeah, so it makes sense. How about for you, dee, my top?
Speaker 3
31:04
quotes. Yeah, what are my top quotes?
Speaker 1
31:08
I didn’t know if you had something different or not.
Speaker 3
31:10
I know, oh my gosh.
Speaker 2
31:14
You would send me them, but you don’t have to, just I know.
Speaker 1
31:16
It’s hard to think on this spot.
Speaker 3
31:18
I mean not a top quote, but just something to live by. It’s just, you know, your energy is everything and sort of like just what you put out there, I just like lead with love, listen to understand, you know. I think is it’s just like important, important aspects of life and everything you do like as a parent, as a friend, business. Yeah, that’s how I live my life.
Speaker 1
31:46
Yeah, yeah, I like that. I think those are great. Now, is there anything in particular that you wanted to leave with the audience before we go?
Speaker 3
31:52
The audience that’s, you know, anyone going, like you know, wants to sort of start this journey. It’s definitely it starts with education. Start with it. It starts with education and then and then taking action. But if you can learn from us, there is like a really feel everyone got to go to this phase you acquire, then you realize you got to systemize and hire. Yeah, as you realize too, like if you don’t have a strong foundation and maybe it’s this awareness to start in the beginning, a really strong and a very strong foundation of your core values, of yourself, you know, and realizing maybe what could be like limiting you, you know you may, you may hit this limit until you you build that to really like excel you to your zone of genius. We learned that as we went. But if we can tell people like, keep these things in mind, I mean sometimes you don’t know what to live it. Yeah, I think this awareness if we had this awareness it would have been made things easier, but grateful for what we’ve been through.
Speaker 2
32:57
I would leave that word. Quote, quote awareness. That’s like my word now, so I would be awesome.
Speaker 1
33:03
No, I love that. So, obviously, thank you to both of you taking time at your busy schedules to be here today and, of course, sponsoring the podcast for the month of November. That’s very much appreciated as well. And, of course, for anyone that has been tuning in, please make sure that you like, comment and subscribe on YouTube and if you’re on another audio streaming platform, it’d be great if you could leave us with a review. You can also follow along at Inspire to Invest podcast on Instagram and remember, above all else, when you invest in yourself, the sky’s the limit. Thanks again.
33:33
Thanks again to our sponsors, true Capital, real Estate, strategic Success Consulting and Infinite Real Estate Results 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 host and guest 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.