(upbeat music) Welcome to the real estate investing morning show with your hosts Wayne and Gabby. (upbeat music) - Good morning. - Hey, good morning real estate investors. We're very excited for today's show. Not exactly 100% sure where we're gonna be covering, but again, that's what makes the best shows. So here's what you guys need to do. Here's what those of you that are here live with us need to do. You only need to close your eyes and card. Not don't close your eyes for driving. When you close your eyes and think hard and think about what can I do today that can change the trajectory of my business? What can I do today that can help me get closer to my goals? Then what I want you to think about is what is in the way of me doing that? What don't I know, what don't I have? What do I need? And then I want you to type it into the chat. I want you to let us know what we can help you with today. What is it that you're struggling with? Are you struggling with trade venture capital or are you struggling with finding deals? Did you just not know what the heck you need to do? Or maybe there's something that you got a problem with one of your tenants or maybe with your tenant buyers or your fix and flip, whatever. Maybe you want to do fix and flips, but you don't know because there's things that you just don't understand. Put it in the chat, let us know, we will help you, we will answer those questions. So we can give you that clarity and that confidence to go and take that action today in order to move your business along, okay? The way to join us live to be a part of this show every week day and morning. All you need to do is just download an app called podbean, P-O-D-B-E-A-N. Once you download that app on your phone, search for the Real Estate Investing Morning Show in there and follow it and you'll get notified when we are live at 6 a.m. Again, you have the opportunity to put your question to the chat, you have the opportunity to hang out with other cool Real Estate Investors as well. It's a great community of like-minded individuals here. Maybe your next best friend is here. Maybe your next joint venture partner is here. Or maybe your next accountability partner is here, right? So come hang out and then, as I mentioned, we offer free coaching for Real Estate Investors every week day and morning. All you got to do is just get your butt out of bed, try, and bring those questions. - Solid takes. - We're very excited to see you. I'm very excited for all those joining us this morning. We do have one question that came in from outside of the show that I told someone I would answer today. And their kind of, their question is, they've been struggling with getting that next mortgage, getting that next property. And they have three properties right now, but every time that they get to the bank or the broker, they keep getting told, no, sorry, you don't qualify. And they just don't know what to do. So we're gonna cover that as well today. We're gonna help that investor, that listener, figure out what do they need to do in order to get to a position where they can get that next property. Or maybe it's not a financing problem. Maybe there's other solutions or maybe that is the problem, but maybe there's other solutions. We can work around. And I promise you, there are lots of solutions. So we'll get into that today. We broadcast this show live every weekday morning at 6 a.m. Like I said, we do that from Edmonton, Alberta, Everly, Weather Girl. What can we expect for the weather today in Edmonton? - The weather today will be minus 12 degrees for scattered flurries. - Thanks, Evie. - Alrighty. Thank you so much. - What's going on in the live chat today? - Well, Manny would like to talk about how to pitch deals to joint venture partners. - Okay. Just how do you pitch? - Yeah, how to pitch a deal to a joint venture partner. - Okay, we can do that. - Yeah. - We can do that. - Yeah. - Okay, first thing came to my head. First thing it came to my head. Is that, oh, that's gonna be a little hard. I mean, I need, that's a big topic. I suppose maybe a little fear overcame me a little bit there. I'm like, oh shit, maybe I'm a little too tired for that one this morning. Second thing came to my head was I should do a fucking role play. - Oh, come on. - Then I thought I don't have a role play partner. First of all, second of all. - I can get Manny to call in. - I've just been feeling so incredibly tired this week. But you know what? I'm gonna do that. I'm gonna, I'm gonna figure that out. I'm gonna, just give me a few minutes on that one. Give me a few minutes, probably after the break. I'm gonna put something together. I'm gonna give you a really good answer. Raising capital is the hardest part and most important part was real estate investing. - Yeah, absolutely. It takes you out of your comfort zone of everything that you think you know about, you know, how life's gonna be. You need to like step out and be vulnerable and somehow not care about what people are gonna think. When, come on, it's human nature. We all care about what people are gonna think, right? And so it puts us into this very vulnerable place of like doubting ourselves, thinking we're not good enough. Do we have enough experience? Do we, are we capable of this? What are people gonna think? If I, you know, post this thing, if somebody gonna laugh at me, if I finally get them on the phone and I don't have the answers to all the questions, all of a sudden massive amounts of self-doubt creep in. - Yeah. - And the one thing that really holds us back from being successful at raising joint venture capital is just lack of confidence in ourselves. - Yeah. - Just that fear. - That is truly it. - That's it. - All of your insecurities that you hide behind the things that you're too afraid to say, they really truly come out in this. - Yeah, because like anybody can go by a property. You get the basics, you run the numbers, you contact a real estate agent and a market broker. - And Manny's got some great properties right now. - Like you just found a bunch. - Yeah, and you go by a property and you put a tenant in it. Like you can figure it out. You can stumble through all of that and not, you know, run into any sort of massive problems. But the second you need to ask people for help. - Yeah. - And it's not even asking people for help. It's asking people if they want in on this amazing stuff that you're doing. But it's like this massive mindset shift that needs to happen because that's what people think. It's like, oh, I'm asking people for help. What are they going to think? Or they're going to think I'm a fraud? Or they're going to think this? Or they're going to think that when really, you're just offering like incredible opportunities so that everybody can win. But people can't get themselves there. - Well, all you said there was, what are they going to think? You're just worried about what other people are going to think about you. - Yeah. - That's pretty much it. - Yeah. - Sorry, we're exposing you for what everyone is and what all of you are. That's the truth. Everybody's just afraid of what people are going to think about them, because if you weren't afraid, you just fucking do it, right? And you wouldn't be so worried about trying to perfect it to make sure that like best case scenario, how to get the best case scenario, how to get them to get the best possible outcomes. You know, they either say yes, or they don't judge you afterwards for asking. So yes, we will definitely be getting into this. And I, yes, what a terrific topic for today. - Yeah. - What's Jean going on about in the chat? - So long message there. - Jean says, by the way, Jean, thank you for all your participation in the show over the last couple of weeks. You've come with some really great questions. - Yeah. - And I just wanna say, say, "Hey, thank you." - Yeah. - That's great. So Jean says, "Financing feels like a challenge for me right now. I am focused on rebuilding my emergency fund this winter. At the same time, I've been discussing with a joint venture partnership with a friend so we can combine forces. We're currently saving our starting capital and practicing deal analysis so we've built up enough funds. So once we've built up enough funds, we'll be ready to take action. - Nice. That's exciting. And good for you for finding somebody else or, you know, to help you out with that. And I mean, ultimately just trying to try to find a solution, right? And some people sit there and some people just kind of worry about it. Some people sit there and they talk about it. Some people, they just go out there and they do it. And the fact that you had a conversation with somebody is an example of doing it, right? Taking action, even just the littlest forms of action are really, really super important. - Okay. So. Hmm. - Okay, the chat's starting to be bumping. - Is it? Let's hear it. - Randy says, in terms of taking the master's course, if it's something my wife and I want to do together so that we are on the same page for the future, would we pay for two spots in the course or is there a married rate? Just curious what's available. - Well, if I were a good salesman, I'd probably say, oh yeah, we can get you a married rate. Yeah, for sure. Try and make a little extra cash off you. No, the truth is is that there is no married rate because we don't charge extra for your significant other. And the reason for that is is that we want your partner, your significant other to be a part of it. - Yeah, we definitely want you guys on the same page. So, the real estate investing master's mentorship program is a 12-month mentorship program. And Gaby and I have learned that through this journey of teaching you everything that you need to know from a education perspective. That stuff's pretty easy. What we want to do is we want to get you through the education as quickly as possible. So we can start diving deep into the real reasons or the real action, taking action. And once we expose you to that, to the core of that, what ends up happening is that these insecurities start to come out, these barriers and these resistances start coming up. And that's where I find to be the most valuable parts of the mentorship program is our coaching and mentorship to get you through whatever is preventing you from moving forward, right? It's not, the education is super valuable, but I don't want to waste my time on it. I say all this to say that one of the biggest barriers is your relationship. And I don't mean it like you're significant other is preventing you from doing what you need to do. But sometimes I found that we found that if one party, one person is kind of leading the charge because they're the ones most interested in it. What tends to happen is that they start worrying about what their spouse is going to think or their spouse starts making little comments, being like, well, are you sure you should be doing that? And the reason for that is because that spouse or that significant other isn't there with you. They're not in your coaching calls. They're not taking the education with you. And it's just, they don't know what they don't know. And that can have a serious effect on your ability to move forward and do the things that you need to do, those difficult things. So what we've learned is that even if your partner doesn't really, isn't really doing anything in your real estate investing business, they should at the very least be a part of, just be there in listening. So they can kind of hear why it is that you're doing what it is that you're doing. And they don't have to actually do anything, but if they can just be a part of those decisions and be a part of those conversations, it's gonna make them feel much more comfortable with what it is that you're doing. And they're gonna have a lot more faith and belief and understanding in what it is that you're doing as well. So it's a collaborative thing. I, we really truly do want your partner to be involved. And for that reason, we don't charge extra. What you're doing is you're building a life. You're not just sitting there learning about real estate. Yeah, you're learning about real estate, but what we're doing is we're being intentional about what your goals are. We're reverse engineering your goals. And your goals are not just your goals. Your goals are your family's goals. - Yes. - What type of life do you want to have? What type of retirement do you want to have? What do you want to leave behind for your kids? Or is it only you making that decision that silly? How is one person making the decision for the whole family? You're pretty sure there's somewhere in your vows where you said something about working together, right? And it being, that's why you get married. That's why you're, that's why you get in a relationship with someone is because you want to work together with them. You want to conquer life together. So these huge big decisions that you're about to make, financial decisions that are gonna change the trajectory of your life and your financial goals, they need to be made together. So we really want you and your partner to be together. And again, for that reason, we don't charge extra. So there is no marriage rate or whatever else. No, we truly do want to see both of you guys involved in it. And when we're having those conversations, those coaching calls with you, we would love to have your significant other with you as well. So that way you can make those decisions together. - Absolutely. - What did they say? They're currently, sorry, what was they? All I saw was that part. Turns it take in the R&M, something to do together. Okay, yeah, so I answered the question. Great. - Awesome, okay. Let's take a little commercial break and we can start answering some of these questions. - Okay, sounds good. Well, what are we gonna answer first when we come back? How about we answer the question that came in offline? - Offline, by email. - Okay. - We'll answer that question first. And that was someone, they're looking for some help with getting their next mortgage and buying their next property. Okay, well, we'll tackle that. We'll just go back. If you're an investor looking at the Emmerton real estate market for the short time we have left this year, here's what you need to know. We're in a real window of opportunity. Prices are more affordable, rents and migration are strong, and inventory is leveling out. Creating some of the best cash low we've seen in years. Motivated sellers are showing up, creative financing is back, and top deals are trading. The investors winning in 2025 are writing lots of offers, watching days on market for motivation and treating repeated price drops as an opportunity. Most sellers want a solution. Let's give them one. At Calvin Realty, we find those unseen deals, run the numbers, help you build a portfolio that performs. If you're ready to take advantage of this market, book your free consultation today at CalvinRealty.ca. If you need help buying or selling real estate, Crystal Crom is here for you. Whether you're looking for fix and flips, brrrz. Long term buy and hold, or multi-family buildings, she can help with anything real estate. As an investor herself, she understands investors needs, serving Red Deer and Central Alberta. Okay, and we're back. So let's get into this question that came through. So, the listener says. Okay, so one of my biggest questions is how can I keep buying properties? I've been trying to get my third house, but haven't been able to do so. I have good credit, I have the down payment, and I don't have debt other than my mortgages. Yet every time I go to the bank or mortgage broker just start the process, they keep on telling me that my purchase power has been reached. But I know there has to be a way to do it. Okay. I just started thinking about investing in real estate not too long ago. So I wasn't really looking that hard about how to purchase more properties. So every time they told me that I wasn't able, I would just say, okay, no problem. I'll try again next year and bump up my yearly income. But it's not really working either. So that's where I'm at right now. Okay, that's a great question. We kind of, by the way, I'm not a mortgage broker. I don't pretend to be one. I know that the mortgage world is very complicated. And so whenever I have a mortgage related issue, I always call the professionals. You call the person on your power team. For me, that's that's Keaton Kirkwood. And he's the person that's going to be able to put this, to figure out what is the actual problem here. There are normal culprits that would get in the way of this. One would be having extra debt outside of your mortgage like buying a new truck with a big loan, high interest rate, or having a line of credits, or having credit cards that have balances on them that require payments. Those are types of things that can get in the way of you being able to be approved for another mortgage. Credit can be another one, if you don't have a good enough credit score. But it sounds like in this example, they have good credits and they have no other debt outside of their mortgages. But they've got two properties currently. So here's the deal. This has to probably do with debt servicing. So I mean, or it's an individual bank issue. And they said bank or broker. And I'm going to say start with, and I don't know, because you weren't very crystal clear in what you said, but I think that you need to go and talk to an investor focused mortgage broker, someone who deals with investors on a regular basis, someone who is experienced with how to get the most mortgages for your real estate portfolio. There might be something that you're missing. Perhaps you've just been going to the wrong lenders and those lenders have their own internal policies or limits that are preventing you from moving forward. - Yes, and I'll also add that an investor focused broker, specifically, you know, ones that we recommend, would be able to tell you why you've reached a limit. Like what is holding you back? They'll be able to dig into that and help you understand why, if that's the case. - So the other part is debt servicing. So when you are buying mortgages under your personal name, you have to service all that debt. And so what they're going to look at is they're going to look at your personal income, which it sounds like you've been trying to increase your personal income, right? To kind of offset that. But if you've been increasing your personal income, you make enough money. Well, okay, so there's two things. It's how much money you make and how much debt you need to service, right? So there are going to be limitations of like how much you can get, how many mortgages you can get, or how high of a mortgage amount you can get per transaction based off the amount of money you make. If you're bringing in $35,000 a year, I don't know what the actual number is, but you're not going to be qualified for that much for a mortgage, right? Maybe you're qualified for $140, $150,000 mortgage, right? Just based off of that. If you're not making enough money, it will limit the amount in which you can get per mortgage. Okay? The next part is is that maybe it's not you and how much you make, but maybe it's the the mortgage in which you're trying to get, it's just too big, right? Maybe that's the other side of it. Maybe you're trying to buy a $600,000 house, and you only make $45,000 a year, right? Maybe that's the problem. Okay, that could be it. I don't know, right? The last part is that if it's not the subject property that you're going for, that's the issue, it might be the two existing properties that you own and you're just carrying away too much debt on those things. And it's not just the future property, the subject property that you need to go and qualify for, that they're taking into consideration, they're also taking into consideration that you also have to service the debts of the properties that you already own. So you may have just squeezed by on the last one because you make enough personal income plus the rental income that you're getting for that property. You might have just squeezed by being that you had enough personal income and the rental income to cover those payments. But now with the next payments, they're looking at it and they're like, yeah, no, you're way over leveraged. So that could be the problem as well. My guess is that it's the home that you're living in and the rental property that you bought. And I just want to, again, these are all guesses. You're going to have to talk to a mortgage broker and ask them exactly what is the problem, which I'll get to in a second. But sorry, I'm just writing down our notes. I've been very forgetful lately. What I assume the issue is and what's normally the issue and most people get capped out is that the properties that they bought, they weren't thinking long-term when they bought those properties. They weren't, you weren't intentionally trying to be a real estate investor before. You said that already, you just started thinking about being a real estate investor. So you weren't having those conversations with your mortgage broker before, but like, okay, I'm buying this property. How do I make sure I put myself in a position where I can get more properties in the future? What type of lender should I be going to? What type of lending product should I be getting? Is this a good deal? Will this deal prevent me from getting more mortgages later? And it can. I'm gonna go out on a limb because you're newer and assume that you put 5% down on your first mortgage and you probably put 5% down on your second mortgage as well. And with that, you're probably amortized over 25 years. You've probably got a big loan on a property that doesn't cash flow very well. So if you put 5% down on your second property and then you put a tenant in it and it's not cash flowing, that means that you're gonna have to service that debt from your own personal income as opposed to the rent, like the rental income is probably not covering all the expenses. So they're drawing more from your personal income to cover not only the mortgage of the property that you're living in, but also the rental property as well. On paper, it probably just, you're not covering everything is what I'm assuming, right? So the important thing moving forward for all of you guys to know this, for you, the listener, for everybody else to know, is that you need to start thinking intentionally about your portfolio and how many properties you wanna get on day one. Literally every property that you buy will have an effect on your ability to get more in the future. And if you're just like, ooh, I just wanna put 5% down for this one and the next one I'll put 5% down, the next one I'll put 5% down, you're gonna hit that wall significantly faster. Think you think. It is very hard to qualify for mortgages more than two or three mortgages. If you're just like, winging it and just like, just trying to get by, you'll get two or three, but you're gonna hit that wall very fast. And what's gonna happen is your mortgage broker's gonna say, I'm sorry, you can't get anymore. The only way to get more is for you to sell those first three properties in reference scratch. Finance them properly, make sure they're debt servicing properly. - Yep. - Right, that's the truth. So if you are new right now and you're thinking, ah, you know, before I go and get some education, before I go and it's okay, my broker said I can get at least another two or three mortgages. Just know you're gonna end up in this situation and I get so many people that come to me will book a coaching call with me and they'll be like, I can't get my next mortgage. And then I'll look and see what they've done. I'm like, well, it's everything you've done up to this point. You've made all the wrong decisions up to this point. And everybody's been just been telling you, yes, yes, yes, yes, yes. And now you've been told to know and you're like, oh, I should probably figure out how to do this properly. And what I have to end up doing and telling my students is the best decision for you right now for moving forward is to get rid of everything that you've done already. And a lot of people don't want to do that. They don't like that idea. Well, no, I don't want it. Well, like, why would I sell this? It's such a good deal. I love this property. I got great tenants. They said they want to stay for 10 years. They're too fucking stubborn to realize that you were ignorant all the way up to this moment. And now you're too stubborn to acknowledge the fact that you were ignorant and that you made mistakes when someone is right here telling you what you need to do. They're also telling you what you should have done as well. In the beginning, giving you an opportunity to correct that, but they didn't want to correct that. So what might end up happening to happen is you might have to probably sell one or both those properties. Hopefully you don't have to sell your home, right? Maybe sell the other property, get that capital back out and start from scratch and start building it the right way in order to make sure you get more mortgages. That's the honest truth. But again, a lot of this is just speculation and assumptions based off the information that I have. The answer for you is to go and talk to a really, really good investor-focused mortgage broker, show them what you got, and ask them, "Why can't I get the next one?" Figure out exactly what it is. Then ask, "What do I need to do in order to solve that?" So that I can move forward. And that may require some difficult decisions, right? I lost count how many times I've had this conversation with students though. - It's so common. - So many people are like, "I'll get started. I'll just kind of get my feet wet 'cause I don't feel like I'm ready for your mentorship program yet 'cause I feel like I just wanna get started a little bit and get my feet wet 'cause I feel like if I join your program, I'm just like, I'm not gonna be ready for it 'cause I haven't done anything yet. And then they go and do stuff. They do it all completely wrong. And they're like, "Wayne, fix this for me." And I'm like, "Yo, redo everything you just did." You know what I mean? Keaton, he's been on the show many, many times. He said this many times as well. Is that like, he doesn't like working with people who have already been getting mortgages with somebody else or doing it on their own ahead of time. Because when they come to him, they're like, "Keaton, solve this problem." And he's the same way. He's like, "Undo everything you've already done." Every decision you've made and every product and mortgage product that you've got is the reason why you're here. So you need to be intentional. You need to begin with the end of mind and start from scratch. So you need to go to speak to an investor-focused mortgage broker on day one and you need to come and talk to us and say, "Hey, here's what my plan is. Here's how I want my life to look like. Please help me build it the right way." Otherwise, it's going to be really hard to help you fix the problem after you've made a bunch of uneducated decisions, right? So hopefully that's helpful. If you have additional questions, please email them in or come join us live in the show. If you want to email your questions then just email them to info at reimorningshow.com and then we can continue on this conversation. If you need recommendations, I highly recommend Keaton Kirkwood for investor-focused mortgage broker. But if you need another one, I can help you with another one as well. I don't know why you wouldn't go to Keaton, but. There's just you being stubborn again. - I mean, what's wrong with you? - This hypothetical person. Not the actual listener. I don't actually even know the listener. So it's, I'm just being this silly goofball. But okay, so any comments about that in the chat? - No. - Okay, and so where are we going now? What's the deal? We're gonna talk about JV pitches? - Yeah, this is it. - Okay, it was just JV pitches? - Yeah, how do pitches are invented? - Okay, just making sure I didn't forget anything else here. I'm just looking at my notes. Okay, cool. When we come back from the break, we are going to help Manny and you guys. What was the actual question? - How to pitch a joint venture deal? Okay, let me come back. - You've got showings, lead signing, sweet reno's condo board meetings, credit checks, mortgage financing, and every so often, the tenant clogs the sink because they shove macaroni down there. Stop, stop, breathe. Leave the bookkeeping to Fingo. Fingo is specialized real estate bookkeeping by real real estate investors with tailored services for maximum returns. Save time, enhance your returns. Claim the plumbing repair for that ridiculous macaroni fiasco. Book your free consultation at fingo.com. Found the perfect property to flip, but worried about the financing timeline? Calvert home mortgage understands that speed is crucial in the real estate market. We've streamlined our process to get you commitment letters quickly, often within one business day, and funding in as little as two business days. And for properties valued up to 1.5 million, we don't require appraisals, saving you even more time and money. We believe in a straightforward hassle free experience so you can focus on what you do best, transforming progress. Don't let slow financing hold you back from your next profitable project. Just show us you have the capital and means to execute. Calvert home mortgage, fast-funding simplified. Contact our team at 403-278-0249 or
[email protected]. Are you just starting to build your real estate portfolio? I Kirkwood and Brennan, we are real estate investors and mortgage brokers who understand real estate investing. Not only do we help you get a mortgage, but we help you build a better real estate portfolio. Check us out at kbmorgages.ca or call 7-7-8-8-4-7-0-5-5-2. Take the time now so you have more time later. OK, we are back. Not going to lie to you. I'm going to be a little harsh this morning. I'm going to be a little real. And I'm going to pull back the curtain on racing capital and join ventures and pitching. And some people might not like the way that I say this. But for anyone who's ever been in a seminar or a webinar on racing capital or joint ventures, here's how it typically goes when people try and teach this. What they try and do is they try and give you these 30-second money maker lines. What they want you to do is they want you to build a newsletter. What they want you to do is they want you to post on social media. What they want you to do is they want you to dress up really super nice. They're going to give you all of these big fucking distracting things for you to do that is preventing you from actually doing what you need to do. What she's just asking. Now the reason why they do this is because if you paid $1,000 or you paid to be at a three-day weekend to learn how to race capital, and somebody told you grab your fucking phone and ask them, you'd be like, why did I pay $1,000 to be in this weekend? So they fill it up with fluff and filler in order to make you feel like you got something. And I'm giving you the raw, honest truth right now. I don't need another 25 minutes to tell you how to pitch somebody. What you need is you need a good deal, which man he has, and you need to grab your phone, and you need to call everybody you know, and say, hey, I've got this really great opportunity. I'm looking for an investor who wants to bring the money in the mortgage, and we're going to buy this property, and we're going to keep it for 10 years, and we're going to sell it for profit, are you interested? That's it. If they want more details, give them more details. They say, well, how does it work? Tell them how it works. If they say, how does the profit split work? Tell them what the profit split is. Ask them if they have any other questions. No? Are you in or are you out? That's it, plain and simple. You have to do that. And this is where people-- this is why people don't get joint venture partners. This is why people don't raise money. It's because they do all of the shit that they think that they need to do in order to better their chances. They do the newsletter. They do the social media content. They dress cool. They get a business card. They get a website. They get a Google form for you to fill out information. But they never actually have the fucking conversation. They take a picture in front of a fancy car. They take a picture in front of the fancy car. They do everything. They do everything that they say that's going to help you get joint venture capital, except for the actual part where you actually ask people. You just think that magically money is going to fall on your lap. People are going to line up outside your door and say, how do I get involved? And you'll be like, oh, well, maybe I'll take your money. No, it doesn't work that way. You have to actually fucking ask. So you feel like you're busy. You feel like you're doing everything you're supposed to be doing. I did the newsletter they told me to do. I built the website. I put the Google form in the website so they can ask about information about it. I put all my deals up there, the deals they have available, the previous deals that I've done. I post on social media every day, but I can't seem to get a joint venture partner. You feel like you're doing everything you're supposed to be doing, but you're not doing the one thing that you're actually supposed to be doing, which is asking. And this kind of goes back to those insecurities we were talking about earlier. People will find anything they can do to look busy. That will avoid them actually facing what they actually need to do, because they're afraid of what people are going to think. Yeah. And this was not the answer you're looking for, was it? No, but it's the answer you need to hear. And especially as a newer investor, this is what you're up against, because sure, if you've been doing this for a decade or two, you're established, you have a massive track record to show, and you've been showing people you've been doing for such a long time. Sure, stuff is from time to time going to fall on your lap. But that's because there's literally people can see what you've been doing forever. But if you're newer and people don't know, and you have nothing to show, you have to ask. You have to ask, and you have to tell people also what you're doing. People need to know what you're doing, and then you need to ask. But no, no, no, no, that's a distraction. You're right. 100%. You're absolutely right. You do have to tell people what it is that you're doing ahead of time. But that's to build trust. That action right there is to only build trust, because the reason why you do that, the reason why you show people what it is that you're doing, you tell people what it is that you're doing, is because when you go and actually ask them, they're going to be like, wait a second. What? Hang on, I didn't know you're doing that. But it still doesn't matter. You don't have to tell everybody what it is that you're doing, but it certainly makes it easier. So here it is, people, this is where people get caught up. They do the things that they think that they need to do, which you should do. It will increase the chances of people saying yes. It will. If you don't do those other things, there is a very low probability that people are going to say yes, but you're forgetting the most important part, which is to go up to them and ask them. You don't even need a deal. You can just say hi. My name's Wayne. Would you like to buy a rental property with me? And they'll be like, hopefully they already know your name. Yeah, it's aside from the point. They'll probably have a follow-up question. Like Gabby said, who are you? Who are you? Who are you? Or they might say, OK, what kind of rental property? And then you can answer the questions. And answer the questions, answer the questions. Again, there are ways to make that conversation a lot easier. However, have we made it clear on the most important part that nobody is doing? Actually asking. And why aren't people actually asking? Because they're scared. How do people will think? They're scared. They're scared. Someone's going to say, no. And how that's going to make them feel. They're scared about what that person's going to think about them afterwards. Yeah. I think that people are less scared about somebody saying no. If somebody says no, it's like whatever. It's like, OK, I think they're scared. I think the number one thing holding people back is just being scared of what they think, or how they're going to be perceived. Number two is no. Am I going to have the answers? Am I going to look down? If they asked me something, and I don't quite know, I don't know how to answer it, am I going to look down? It's because everybody's afraid of what people think about them. Yeah. 100%. We want everyone to love us. We want everyone to say good things about us when we're not around. We can't stomach the idea that someone has something negative to say about us when we're not around. You don't need a script. You need fucking balls. That's the truth. That's the answer you need to hear. If you don't like that answer, I will gladly charge $2,995 for you to come hang out with me this weekend. And I'll show you all the ways that you can build your newsletter and your websites and your 30-second moneymaker script, your elevator pitch, and all that other bullshit that people love to sell you. They're selling you bullshit. They're not giving you the proper answer, which is just go and ask. Yeah. Everything else helps increase the probability of them saying yes. But none of that, if you just focus on that bullshit stuff, you're never even going to get to the conversation. My recommendation is for all of you guys this weekend, if you want to join Fenture Partner, if you want someone to bring the money in the mortgage to buy a property with you so you can split the profits 50/50. I want you to grab your whole Facebook friends list. I want you to grab all of your Instagram followers. I want you to grab everybody in your phone and I want you to call all of them. All of them. Say hi. My name is Kyla. I'm just looking at the screen who's up in front of me. My name is Kyla. Would you like to buy a rental property with me and split the profits 50/50? Just do that. Now, see, here's the funny thing. Is that if we weren't so worried about what people thought about us, we would go and do that right now. We would call in sick, right? Us as human beings. We would call in sick and say, OK, I'm going to call in sick. I'm going to lose out on $300 worth of income today or $200 worth of income today. But I'm going to spend the eight hours today calling literally everyone that I know instead, because I think that it's worth it to lose $200. But to call literally everyone to find out if anybody says yes. And if we weren't worried about what they think, we wouldn't be worried about the fact that we were unprepared. We would go literally through everybody. We'd figure out if anyone says yes. And then if everybody said no, what we do is we go back to the drawing board. We take one of those stupid weekend webinars with Wayne, $3,000. It's a learn about all of my 30-second elevator pitches and my newsletter and my social media stuff. We'd be like, OK, cool. I try calling everyone. They all said, no, how do I get them to say yes? See, now we can go to the second part. And we'd be like, OK, well, it didn't work. Now let's start working on how to build trust with people so that they do say yes. They trust you in order to maybe be even a little bit interested. So you go, and you do all the newsletters and the money maker scripts and all those other bullshit and everything else. And then you work on that. And then you go back to those 1,000 people that you called before and try again. And you would have no problem trying again because you aren't scared about what they're going to say or what they think, right? Hey, so I called you three weeks ago. I was asking if you were interested in buying a rental property with me. I'm just curious if anything's changed since then. I want to tell you a little bit more about myself. My name's Wayne. I've been a real estate investor for almost 15 years here. I bought over 100 rental properties. I am a successful real estate investor. I don't know if you listen to my podcast or not. But the return and investment that I've gotten on my portfolio average yearly has been over 40% or ROI per year. All of my properties cash flow. I've never lost money on a single property. I've got a really great opportunity right now. It's a brand new property. It's very similar to the other ones that I've been successful with. And I've been looking for a partner who would want to partner with me, bring the money in the mortgage, who just wants to be a passive partner. I take care of everything. I've already got the deal lined up. I got it secured. All I need is just for someone to bring the money in the mortgage. And what I'll do is I'll take care of everything else. We'll do a partnership for 10 years. We'll split the profits 50-50. I was wondering if you'd be interested in that opportunity. By the way, I just pulled that on my butt. I didn't prep that. And then do that for the same thousand people. And if they all say, no, OK, cool. Well, clearly, they don't trust me. So I need to do something else. Maybe I'm going to start posting on social media every day. Maybe I should be showing people who it is that I am and what it is that I do every day. So I'm going to start showing some videos of me at my properties. I'm going to show some videos of me dangling my keys or pictures of me in front of the electrical commuters, all that other stuff to show people that I am actually doing this every day, because clearly they don't trust me. Because they haven't seen what I do. OK, so now I'm going to show everybody what it is that I'm doing every day and everything else. And then in a month, three months from now, I call them back and getting, hey, so we talked a couple times about that rental property. That rental property actually bought it with other partners been going great. I got another one that's looking really good. And I think this one's going to be really up your alley. I was wondering if I can get 30 seconds just to quickly tell you about this deal. I'm going to run through the numbers with you. If you're interested, great, if you're not, just hang up. How's that sound? OK, perfect. So I got this amazing rental property right now. It's $30,000 under market value. So that's about 15% under market value. But I'm just pulling numbers on my ass here. So this is an amazing opportunity. And the reason why it's an amazing opportunity right now is because I'm buying it in December. And I know that the value of this property is normally significantly higher. But I got a buyer right now that just needs to get this thing off their books. They just cannot make the payments anymore. They're struggling. They've got nobody making any offers. So I wrote an aggressive offer. And this property is just an absolute amazing deal. Now, it's not just an amazing deal. And the price what I've actually got is I've got a tenant lined up who's going to pay $2,000 a month, which is going to mean that this property, after we pay the expenses, is going to cash flow $600 a month. Not to mention the fact that the ROI on this property on just cash flow and mortgage pay down is 20% per year. What does that mean? That means in five years from now, we're going to double our money. And that doesn't even include the appreciation. It doesn't even include the value of the property going up. That doesn't even include the fact that we got this property for $30,000 under market value. We're going to double our money the day that we get our keys. We're going to double our money again in five years from now, from just paying the expenses and our tenant paying the rent every month. And then as well, I can't guarantee this. But the market is going up in Edmonton. I think we're going to double our money in appreciation within the next-- probably the next three years as well. We're talking about tripling our money in the next five years. OK, I can't guarantee any of that. But the prospect of this is just too good to be true. And I really want to share this with somebody else. Is this something you'd be interested in talking more about? See, would that have worked the first time around? No, because I hadn't built up the trust in everything else. You know what I mean? There are a lot of pieces that you're going to have-- you're going to have to build trust ahead of time. They're going to have to-- like you said, they're going to have to know who it is that you are and what it is that you do in order for that to really resonate with them. But none of that matters unless I get on the phone with them. And for every day and every week and every month and every fucking year, you're sitting here building your newsletter, building off your 30-second elevator pitch and all this other stuff. From posting social media, you are just wasting time from having a conversation with someone. And there are people within your life right now, your friends, your family, your mom, your dad, your cousin, Nick, your aunt, Judy, whoever, your buddy at work. There are people right now who would say yes if you asked them. But you're too chicken-shit and you want to be perfect. And you're trying to cover your ass in the event that they say, no, so it doesn't affect your relationship. Or it doesn't affect what people say at you at work about you at work because God helped me. I would never ask Caleb at work because if Caleb says, no, he's going to be fucking bust in my balls for the next six months on the job site because I asked him, can you believe this? Wayne asked me for $75,000 because he wants to go and buy a rental property. He said something about us doubling our money or whatever else. Can you believe that? Oh, wait until fucking idiot. You don't want that to happen. You don't want management to find out about it that you've been trying to ask people for $75,000 at work. Oh God, what if I lose my job? You're too worried. You're too worried about what's going to happen and what people are going to think about you. And it's getting in the way of you actually doing what you need to do. Getting in the way of your success. It's funny because people come into this industry and everybody just wants to get rich quick. And people will go through great lengths to find out what that gimmick is and putting all this work into like, oh, if I just do this and if I just do this, I'm going to get rich quick. But at the same time, there's this other side where it's like, you need to raise joint venture capital or find joint venture partners. And instead of asking, you're going to take the long drawn out decade long. I'm just going to post and I'm going to build this website. And I'm going to leave little nuggets here and there. So that eventually one day, somebody's going to reach out and say, hey, can I invest with you? Which is going to take like a decade or two to get to the point where people want to actually give you their money. Instead of just like doing these two simple things, one simple thing, asking people. But I do like to add on that second part is that people do need to know what you're doing. There does need to be that trust. So there's these two simple things that people can do to not get rich quick. But to build a sustainable portfolio that's going to build generational wealth for you. And it's like, it's easy. You just need to set your ego aside. Yeah. Not even ego. You're, I don't know, delicate feelings. Your delicate feelings aside. It is a bit of ego. Because it affects your ego. I guess so, yeah. Yeah. Right? We're too proud. Yeah. And we're too worried about-- I've talked about this in the show many times. And I don't have time for the full story. Ever since the first grade, ever since the first grade, every decision that you've made, ever since the first grade, has been inconsideration of what will other people think of me. 100%. Because before the first grade-- You didn't give a shit. You pull your pants down. You do the-- you do stupid dances. You're like, mom, mom, look at this. Look at this. Look at this. Look at this. Look at this. [HUMMING] [HUMMING] Ha-da, ha-da, ha-da, ha-da, ha-da, ha-da, ma-ha, woo-ha. I'm having the best time of my life. Life is fucking amazing before your six, right? You will do the dumbest shit in order to get a reaction out of someone. And say anything to anybody, whatever you're thinking. And say whatever the fuck you're thinking. No filter. Can you just imagine being under six again? Serious? Like, just how fucking amazing life would be? Just doing what the fuck ever? Jumping off shit. Just living life to its fullest. And you watch your kid, and you're just like, Jesus fucking Christ, that kid. That's good. It's just getting me heart attack. And like, it's giving me a huge headache. And now what happens is, somewhere in the first grade, you went and did that, and someone looks back at you. And because they had no filter, they said, that's really stupid. And you're like, whoa, whoa, whoa, I don't like that feeling. No, no, wait a second. You didn't hear me. You didn't hear me. I was like, I was like, six, seven. And then someone looked back at you and said, you're stupid. Don't do that. You look like an idiot. And your pants fucking suck. And you're just like, what? I love these pants. My mom bought me these pants. Look, it says six, seven all over them. Why did you say that? And then someone else comes up and stands next to them and be like, and they're like, yeah, your pants are really stupid, really stupid. And so's your face. And I don't like when you do that, that thing with your mouth. And you're like, oh, well, you're stupid. And your pants are suck too. Your pants have holes in them. Why is your pants have holes in them? Did you buy them that way? And then from that moment on, your self-conscious about your pants, your self-conscious about everything that you say, because you're afraid, because if you say something, somebody's going to say something bad back to you. Permanently, from that moment, I don't know if you guys are going to remember those moments. It's kind of hard to remember. But you can probably remember a moment in elementary school when you wore something, said something, did something. And someone snapped back right back at you and said, that's dumb, or that you look like an idiot, or what a terrible fucking outfit. And you've been super self-conscious about it ever since. And every decision that you've made ever since has been in consideration of what are other people going to think about me. That was the moment that you stopped being a kid, and you stopped living fully. And you lived only to impress other people. To impress other people. That's why you can't fucking pitch, because you're too worried about what people are going to think about you. The billions and billions of people that are in this planet. But you have to see these same people every day. Like, it's not like you can just do something stupid at school. And then tomorrow, it's going to be new kids there. It's the same kids. And you're going to be seeing those kids probably all the way up into grade 12, if you stay in the same area. You're going to be in grade 2 with them, grade 7, grade 8. And then you're probably going to go to the same high school as them. And they're going to remind you. They won't let you forget about that time that you did that stupid thing. And then your boogers went everywhere. You should have like an insult burning show. Like, have a show where everybody comes and puts that one insult that they got as a kid that just fucking destroyed them. And then we'll just like torch the show after. I don't think anyone will sign up for that. I don't participate. You'll participate? I don't think anyone will do that, because everyone's too scared. It's almost like I finally got away from that. Nobody's called me. No one's called me. I don't really have a good nickname. No one's called me Wiener Schnitzel. Since the seventh grade, no, it has nothing to do with my Wiener. Wiener Wiener. Yeah. But no one's-- I'll tell you. Hurricane Wien. Hurricane Wien. Because we were all playing on the ice, and I fell, and I cracked my head, and I cried. And they said that I cried like a hurricane. It's a really fucking terrible joke. It hasn't affected me. But I'm just saying I'm using it as an example right now. Why would I tell that story right now? No one's called me Hurricane Wien since the eleventh grade. I finally got away from it. Why would we bring up this terrible old traumatic shit? Why would we bring this up and share this with everybody on a live podcast? I mean, no one's going to do that. I mean, I hope they do. But the point is that we're trying to make is that it all kind of stems back from there, right? I wish that kindergarten manny could pitch me right now. Because kindergarten manny wouldn't give two shits, but what anybody thought? Give me your money, bitch. [LAUGHTER] OK, maybe not, bitch. [LAUGHTER] Christ. I didn't realize manny was a gangster. [LAUGHTER] But that's it. That's it. That's it. I wish that kindergarten version of you were here, manny. I mean, everybody. I'm talking to everybody. Because you wouldn't be afraid to go and ask people. I've got amazing deals right now, amazing deals. But I'm at a different stage. I'm not going to lie to you. We did talk about this earlier. If you do build it out right, eventually at a certain point, people will come to you in one of us with you, and you don't have to ask anymore. I certainly don't like asking. And I don't like asking because I just don't have the time to do 100 meetings. But that's further on down the line. Just imagine you called everybody and asked them all right now. And five people said yes. And you got five properties. And then next month, you called everybody again. And five more people said yes. And you had 10 properties. And then you documented all of it. You had a newsletter. You did the website. You did the social media stuff and everything else. And everybody got to see how successful you were, and that you were buying all this stuff. Just imagine that maybe in a few years, people would actually call you and ask how to get involved. You see what I mean? You can't skip the first part. Yeah. There's a bottleneck right here that you just need to get through. And that is just swallowing your pride for getting about what other people are going to think about you and just asking. It doesn't have to be perfect. None of this has to be perfect. You don't need a fucking slideshow presentation or spreadsheets or whichever else. Most of this can be explained with a piece of paper. At a coffee shop. If you know what a good deal is, we're not-- we're not going to worry about the good deal part. Let's just assume at this point you already know what a good deal is. Maybe it's a mediocre deal. You've got people that you know that trust you and love you, that you could call right now and ask them. Why haven't you? Why? There's-- you don't even know if they're going to say yes. Some people will say yes. Some-- I'm using the word-- the definition of word-- the word some. But you don't know because you haven't asked them, right? And don't be afraid to ask them at the end of it. They don't mind me asking. Why know? Yeah. So there's another layer of insecurity there. They've already said no. If you were-- if it was kindergarten version of you, you'd be like, why? Why? Why? Don't be afraid to ask why? And then go and figure out whatever that reason was. And go solve it, fix it, come back and be like, here, I fixed it. Let's do it. Let's do a joint venture. No, sweetie. I don't really want to-- why? Well, I just don't feel like you have enough experience yet. OK. Go and get experience. But call other people. Maybe somebody else doesn't care about your experience. Maybe somebody else wants to give you a chance. OK, sweetie, I'll give it to you. The people that are normally willing to give you a chance in the first one, though, are normally your friends, your family, your mom, your dad, the people that love you the most. The people that will look past your inexperience, that will look past the fact that you clearly don't have your shit together. But they'll be like, OK, sweet, I'll give you a chance, right? Again, I'm assuming that a lot of people were hoping when they clicked on this podcast that I was going to give them some magic money line or some silver bullet, fuck off. Just go and ask them. That's it. That's all. That's what you're not doing. That's why you don't have money. That's why you don't have to have entrepreneurs. And that's why you haven't bought another property. Plan is simple. And that's why if you haven't quit already, you're going to quit in six months. Because this shit doesn't work. Someone told me I'd be a millionaire in six months. You're not doing the work. The most successful real estate investors don't give a shit what other people think. Can anybody sense in my voice how I feel about what people think about me? Am I giving off a vibe? I don't care. I do care, down, deep down, because somebody made fun of my pants when I was a kid. Don't mix orange and blue. I went shopping. It was blue jeans, blue shirt, orange, like over shirt. What kind of jacket thing? So you were like a walking oilers? It kind of looked like I was a big oilers fan. And it just looked terrible. It was a terrible match. And it was a terrible like over shirt jacket thing. Anyways, it looked bad. And that really affected my style confidence for a very long time there. That was like the one time I went and picked my own clothes. And it was just a terrible decision, you know what I mean? A little thing there. So everybody's got insecurities. Everybody's got confidence issues. But it's all because someone said something about them. If you went through life and everybody's always complemented you and everybody said you're the best dresser ever and you're the funniest person ever, you wouldn't have any of this stuff. You would be overwhelmed with confidence. But most of us don't. Everybody was made fun of for something and for many things, right? So what I'd like for all of you guys to do this weekend is I'd like you to get your context list in your phone and I'd like you to literally call everyone. Even the people you haven't talked to in the last two years. If you're worried about, oh, maybe I should, maybe I should like text them first and see how their family's doing before I just out of the blue call them and say, hey, give me $75,000. But I don't know if you've been listening. The only reason you're doing that is because you're worried about what they're gonna think. Fucker hasn't called me in two years, calls me up and says he wants $75,000. You're just worried about what they're gonna think. This is another example of you, see what I mean? Just call them. Just fucking call them and say, hey, I got a rental property, I'm looking to buy, I'm looking for an investor partner. All I need from you is to bring the money and the down payment, sorry, the down payments and the mortgage, I'll take care of everything else, I'll bring the deal, I'll manage it all, we'll do it for 10 years or so at the profit city 50. How's that sound? Is that a good pitch? No, it's not a very good pitch. It's a terrible fucking pitch. They're definitely gonna say no. The probability of them saying yes is very low. But they might say, not this one, but let me know if you have anything else. All right. You got a prospect. So you're saying there's a chance, right? I would mark that down. They said that they'd be down for it. Maybe you don't give them a specific deal, but say, hey, I've been working on this thing. You probably see me doing a little bit about it. I've been talking a little bit about it, but ultimately, I've been very passionate about real estate investing for the last few years and my goal is to build a real estate portfolio, something I can leave behind for my kids, something that's there to support my family for my retirements. But more so, just like I wanna leave something behind for the kids. I've been working my ass off for these last 10, 20 years and I've realized that I haven't really accumulated very much and a big thing for me is just, I wanna make sure that I leave something behind and make things easier for my next generation and their next generation after that. I'm assuming you can relate with that. So here's what I'm thinking. I've been doing lots of research. I've been taking lots of courses on real estate investing, learning how to buy the right properties. Part of this, in order for me to scale this, in order for me to build this up, is I know that I'm going to need to invest your partners. And I know that I'm gonna need people that are close to me, that wanna be involved in this as well. And my also, my other goal is that I want to, not just share the keep this all to myself, but there's people who obviously within that I care about like you and like Janice and our other cousins, Nick and whatever. And I wanna be able to share that with you guys too. So I've learned a lot. I'm gonna continue to keep learning a lot. I just wanted to see if you guys would be interested in getting involved in something like this. What I wanna do is I wanna get it up to about 10 properties. I wanna get it up to 10 rental properties. And I wanna start paying those off and I wanna leave something behind for the kids, for my kids, for our nieces and nephews. And I was curious if that'd be something that you'd be interested in learning a little bit more about. If they say no, fuck you, then just move on. But if they say, okay, all right, I like that idea. Yeah, I've always thought about real estate too. Okay, you're gonna get me some more information. Give me some more information. More, excuse me, information. Then you know, okay, all right, I got a prospect. Now you can start working on the other stuff. Now you can start giving them closer to yes. Right, but you gotta ask first. And that's an easy one. That's just your cousin, right? Ask your pharmacist. You're there, you're picking up your birth control, whatever. You're there, you're picking up some cream, your monthly medication. I'm just, I know it's ridiculous, Gabby, but I just wanna paint the most. I wanna paint the most ridiculous and embarrassing situation. Okay, the most unrealistic situation. You're picking up some cream for something at the pharmacist. You're thinking I would never, ever ask them this. What are they gonna think of me? And if they ask you how are things, they're really good. You know, I've actually been doing a lot of research about real estate investing recently. They'd be like, oh, so yeah, you know, like, big thing for me is like, I've been working my butt off, making a lot of money, but I just don't seem to be really building anything for the future. And I've been taking lots of courses and listening to a really great podcast. They were talking a lot about partnerships and talking a lot about like, you know, bringing other people in on this journey and not just keeping it all for ourselves, but, you know, finding some ways to collaborate and synergize and so that we can grow faster. And so I've been talking with a lot of friends and a lot of family about, you know, who we want to get involved in that. And I mean, I'm just gonna say it. I know this is a little weird, but if you're ever interested in something like that, or would you ever be interested in something like that? Maybe partnering up and getting in on some, some rental properties with us. We're looking at buying maybe 10 in the next couple of years. Is that something you'd be interested in? What's the worst they're gonna say? If they say no and you're so embarrassed, switch pharmacies. - No, don't switch pharmacies. Why, who gives a shit? Why are you worried about people are thinking? - I'm just, I'm just saying you finally have an out. - No, no, because I don't, I don't wanna give a back door. I want all or nothing, you know what I mean? - Yeah. - Why not? Why the fuck not? If this means so much to you, if this means so much to you to build something better for yourself, you've been listening to this podcast for 600 episodes every morning, I'm up here, I'm listening every day. It must mean something to you. There must be some reason. You must care about your family, your future. You must hate your job that fucking much. Why aren't you willing to do the work? You're willing to wake up early every morning and listen to this podcast, but you're not willing to have awkward conversations, uncomfortable conversations to do what needs to be done. I'm telling you right now, I just gave you the playbook. That's the playbook. You just gotta go and do it now. 'Cause I'm not gonna fucking do it for you. Gabby's not gonna do it for you. Your kids aren't gonna do it for you. Your dad's not gonna do it for you. You have to do it for yourself. Or just go back to living the fucking mediocre shitty lives that you have and just own it. Stop complaining, go back to work. That's the one thing I'm gonna say before we end the show. Don't you fucking complain. Don't sit there and bitch and complain that nobody wants to partner with you. Don't bitch and complain about the government not giving you enough money, taking too much taxes. Don't bitch and complain about your boss and how much you hate your job. Don't bitch and complain about your life and how you can't go to Cabo. Shut the fuck up. You don't get to bitch and complain because you haven't done the work. If you're not gonna do the work, if I've told you this now, I'll give you the playbook. I told you exactly what you need to do and you don't do it, you do not get to complain. You're just gonna sit there quietly and live the life that you chose. - That's the show. Have a great weekend, scaredy-cats. - Bye. (upbeat music) - Thanks for listening. Want to be coached personally by Wayne and Gabby? Then you should join the real estate investing master's mentorship program. Details are in the show notes to get started.
PodcastTranscript AI