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Scott Trench is the CEO and President of BiggerPockets. Scott has Dedicated his Career to Helping ordinary Americans Build Wealth in Part through Real Estate Investing. Since joining BiggerPockets in 2014, Scott has Authored the Bestselling Wealth-building book “Set for Life” and joined Mindy Jensen as Co-host of the BiggerPockets Money Podcast. In this episode we talked about: Founding a tiny Startup called BiggerPockets Scott's first real estate purchase Scott's Professional Development The Evolution of Scott's Investing Career 2014-2021 Partnerships Publishing with BiggerPockets Life as the CEO The Money Podcast 2021-2022 Outlook Mentorship, Resources and Lessons Learned Useful links: https://www.biggerpockets.com/users/scotttrench Instagram @scott_trench Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies gentlemen, welcome to working capital the real estate podcast. I'm Jennifer galley and my special guest today. As usual as Scott trench, Scott trench is the CEO and president of bigger pockets.    Scott has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the bestselling wealth building book set for life and joined Mindy Jensen as cohost of the bigger pockets, money podcast, Scott, how's it going? Hey,    Scott (52s): It's going great. Thanks for having me.    Jesse (54s): Yeah, my pleasure to have you good to finally connect. I don't know if, if you were at BP con last, was it now two years ago when we were in Austin, Texas, where are you at that event?    Scott (1m 5s): I was at, well, I, I w we had one in Nashville, Tennessee. That was that. Yeah, it was, I was at that one    Jesse (1m 11s): Nashville. Now I'm mixing them up. I was in Austin for another real estate thing. Yeah, absolutely. It was a national first thing I did. I got off the plane. Just see you guy holding a guitar. I'm like, I'm in Nashville.    Scott (1m 21s): Yeah. I went to school there and it's a wonderful city, you know, maybe might've influenced that as the choice for the, the conference back then, but awesome.    Jesse (1m 30s): So, yeah, I guess I probably would have crossed paths with you at that point, but I didn't realize that you were with the organization for, for such a long time in 2014. So back then, how did, how did you get your start with, with that organization?    Scott (1m 45s): Yeah, so I joined BiggerPockets, well, I started my career as a financial analyst at a fortune 500 company, and immediately decided I wanted to become financially free rather than climb the corporate ladder. And so I found a company called BiggerPockets and their podcasts and started listening to it and thinking about real estate investing and early retirement, the fire movements. And so I kind of combined the two spent as little as I possibly could and bought a house hack one year out of college after saving up my, my funds and simultaneously, you know, I started my career in August, 2013 by August, 2014.    I was simultaneously under contract on my first duplex and a new employee at a tiny startup called BiggerPockets as the director of operations. I'm working alongside Brandon Turner and Josh dork and the founder    Jesse (2m 32s): Right on. So you were basically you're in school in a, was it a Vanderbilt? A university? I think last time I checked this online. Yep. Go doors. There you go. And so you buy your first property. Tell us that. Tell us that story. What was, what was your first foray into, into real estate investing?    Scott (2m 50s): Sure. It was a duplex in a, the Northeast corner of Denver called Cole Clayton, and it was a up and coming area and I bought a duplex for $240,000 needed some work, rented out each, each unit and, or rent out. The other unit lived in half, had a roommate. And that was kind of the start to my career. I put down 5%, $12,000 as a, as the down payment. Other side rented for like 1150 mortgage was 15, 50 roommate, five 50 in rent. So I'm barely breaking even, maybe it's paying a little bit to live, but certainly a lot better than paying rent.    Jesse (3m 26s): Yeah, absolutely. It's not a, it's funny, it's very similar to, to my first investment and it was 248,000, something like that, but it was a somewhat similar to a host hack. I just saw a bunch of guys in, in college that were basically buying properties and renting out to us. And I was like, what's going on? I'm missing something here. So in terms of, in terms of how you progressed through real estate and just in general with the bigger pockets show, so you're in there, you start in bigger pockets at that time. Yeah. I mean, was, it was bigger pockets, the impetus for you to invest in real estate or did invest in investing in real estate, uncover bigger pockets for you?    Scott (4m 4s): I was a fan of the idea of real estate. So when I started my career in 2013 in August, and I wanted to invest in real estate, it probably around December of that year, January. So six months after I started working, I just ran into a very simple problem, which is I didn't have the down payment. So I just needed a few more months. And so I was listening to BiggerPockets while saving up that down payment for that first duplex house hack. And in the process, I was, I drank the Kool-Aid. I joined the cult, whatever you want to call it and became a huge fan. That's when I met Josh Dworkin through kind of a networking thing in, in, in Denver is a guy I was meeting to take to lunch, a local real estate event.    Josh and Brandon on the podcast told me, go meet local real estate investors in your local market. And that's how you can get into this. So I did, and I took one of them and I joined a, an entrepreneur group, a mastermind at seven o'clock on Thursday mornings and took each one of the guys in that mastermind group out to lunch. One of them happened to work in the same co-working space as Josh Orkin. And so I was like, oh my God, you're my hero. You changed my life. I'm doing all this stuff. I'm going to get my first house, like by the end of the year, which I did.    And that's how I met him. And he paid that turned into a job interview after me, pestering him a few more times,    Jesse (5m 16s): Right on. So I mean, a bunch of our listeners have either, you know, members of bigger pockets or have seen the community online for context. Cause I remember it back then. It is not anywhere near what it is today. What was that like being part of, part of that at such an early stage in its development?    Scott (5m 38s): Well, well, for me, what was it like being at an early stage? I mean, you did everything right? So we were, I was, I was learning as much as I possibly could about operations, about growth hacking, which is, you know, internet marketing, as much as I could about real estate investing. I was trying to as much time as I could in the forums and meeting people, meeting users, posting, building my own portfolio, all that kind of stuff. So I mean, my days would be, I would bike in to save money, of course, you know, show up at around eight and then work until five or six and then Josh would go home and then I would be allowed to write for the blog and my after hours.    So that was my day for a lot of these weeks is doing that kind of stuff. And, and you just learn everything. And gradually, I think I'm just kind of the type of person who's going to stick my hand up and volunteer for every opportunity, even if it kind of begins to get a little overwhelming. And so gradually I kind of did more and more of the work that maybe some other folks didn't want to do, like managing, you know, teams and, you know, dealing with the problems and the finances and the, you know, data and those kinds of things. And so I began to take over more and more of an operations capacity over time, but yeah, the early days were just really fun, lots of creative ideas, you just thought of something and did it, you know, created a lot of problems of like, we have all these little ideas that we thought of 15 years ago or seven years ago now, and they're not really well-maintained anymore.    We've got other parts of the site that exploded like the podcast and those kinds of things. And so there's a whole bunch of history here. I think that was created then. And, and, and in the time proceeding my arrival to the company. So it was, I think it was just really exciting, but there was a sentiment like this is inevitably going to be huge, this, this deck, because we're helping people and it's a cult. And, you know, you can see how much value that people are getting from this and their net worth and their wealth and their freedom is just constantly evolving. And we've got so many success stories and so many people who are doing all the right things and everyone's debating all of the, the nuances of this and really intelligent and exciting way that is just, you don't see anywhere else.    And so that was, you know, that, that was, I think the sentiment or how I felt at the time about it at least.    Jesse (7m 53s): Yeah. It's really cool to hear that, that feeling just the, you know, this is going to be something big for me. I had somebody on the podcast a few weeks ago and for myself, just based in Toronto, I would say about 60% of the listeners are US-based the balance. I would say the majority of the balance are, are Canadians. And then, you know, a few over the pond here and there, but somebody was on the show talking about resources. And I was like, you know, if you're not using the, you know, key words, Canada, us cross border, like just things like that, where you can actually get into articles where people are talking about something so specific to what you're talking about, that you, anywhere else on the internet, even if you type in Reddit or forums, you don't get that same level of granularity that you do with bigger pockets.    Scott (8m 37s): Yeah. I think that's what makes the company special is as you get this nuance, there, there are people making money in every type of real estate and directly disagreeing with each other about the right way to make that, that money. Should you allow pets in your enter and your rentals? Heck no. Heck yes. Right. Like AB I only, I only read the pets. Yeah. Yeah. Like the pet, you know, I bought the I'm on the side of definitely allow the pets that increases your applicant pool and you get way more qualified applicants for that. But, but you know that that's a nuance that's debated heavily on a lot of these things, right.    The 1% rule, you know, like all of these different topics are, I think you can get that nuance and you can get it locally, which I think is pretty cool.    Jesse (9m 17s): Hmm. So how was it for you from, you know, 2014 up till today? So you're, you're doing operations, you're, you're kind of dealing with this real estate startup. What is your investing career looking at? Looking like during that time and, and how was that navigating, you know, the day job with, with investing as well?    Scott (9m 37s): Yeah, so I, I took a little bit different approach than say, Brandon did, Brandon Vernon is now doing incredible stuff with these, these mobile home parks and all that kind of stuff. But at the time he was buying kind of like 40, $50,000 units in rural Washington and that kind of stuff. And that was how he was building his portfolio. And, you know, the properties I'm purchasing here in Denver, one unit might be $300,000, right. And so it's a completely different price point and different type of investing. And so my, my activity set with real estate investing has been much less intense than maybe some other investors or maybe like Brandon Turner's, for example, because I've been buying, you know, about a duplex, then I got another duplex.    Then I got a quad Plex. Now I'm buying my fourth property in seven years, which is another duplex. And the asset value across this is going to be close to like $3 million across those 10 units. And, you know, that's, there's a different appreciation, potential and rent inflation and that kind of stuff that's been going on. And my goal, my philosophy is I'm going to buy slow and steady once every year, once every 18 months, that kind of range and just pile up the portfolio over 50 years and through the ups and downs of the market, I think I'm going to benefit from Denver rent and price appreciation in a way that will really carry a lot of my portfolio.    So it's a little bit more of a passive approach. It's not a get rich quick, but it has produced incredible results for me so far with us. And, you know, really allows me to spend most of my attention on my job here at BiggerPockets. So I also invest in some syndications and I dumped a lot of money into index funds. So I've got rentals, index funds, BiggerPockets, you got the portfolio there.    Jesse (11m 23s): So for, for investing, I mean, that's not dissimilar to, you've heard, probably heard this on the podcast or in the forums where everything right now, every market that's a downtown market is incredibly hot and it's very hard to, to break in to different markets in terms of the way you're investing. It sounds like you're basically, you're not jumping on anything. If you find something that makes sense and it works, then you'll potentially invest in it in terms of how you're purchasing these, that you mentioned, you invest in some syndications, but for your core real estate, is that stuff that you typically do on your own, you partner with, what does that look like?    Scott (11m 57s): Yeah, so I, I partner on those deals with a business partner here in Denver and we kind of, it's a, it's a great relationship. We've been friends for a long time and we kind of both jointly manage things as we're, as we're able to, we have a property manager as well now with that. And yeah, I mean, we just kind of handle those problems as they come up right. On    Jesse (12m 18s): One thing I've, I've at least seen just having people on the podcast where, you know, I've mentioned either before or after the show, we'll mention bigger pockets. And if they're larger podcasts, you know, I've had people be like, you know, I, I don't want to mention them. They're they're competitive hours. So, and if the first time I'd be like, first time, I felt like our community I've always felt it's been extremely inclusive, but the reason I bring it up is I'm curious to task you. What, what do you, what have been some of the challenges that you've had as you grow as you grew from a smaller company to a pretty dominant real estate company in your space?    I, you, you know, the metrics probably better than anybody, but just at the level you're at would have been some of the biggest challenges getting to the space that you're at or, or while you're here.    Scott (13m 2s): I think it's really defining who we are and who we want to be when you grow up as a business, I think is really the big challenge. I think we've done a really good job of, of building I think a great brand. I think we've got, I think we've genuinely helped. A lot of people get started and build their, their, their real estate portfolios and all that kind of stuff. And I think it's, it's, what's, what's next here. How do we more formalize this and professionalize it? Because I think what you get with bigger pockets is a choose your own adventure free for all deep dive into the world of real estate investing.    And that's great for a lot of people, but it's maybe not what some people want where they want more of like a here's what to do. You know, here are the options you pick one, here are the pros and cons and, and go with it. Right. And I think that there's a big market of people out there. Like what, what does the user of bigger pockets do? Right? What they do is they spend 500 hours, literally listening to podcasts, reading books, engaging in our forums and Facebook groups following that are our hosts and guests and bigger pockets on Instagram, joining, you know, joining the community.    And then, and then a moment comes when you want to buy real estate. Okay. I'm ready to put that investment of hundreds of hours of work into actually transacting on my first, your next property with that. And I think that's the challenge is, is that is not for everyone. There's a certain component of, of folks out there who like that and want to do that. But that, that in-depth dive, I think is not really for as many people. And, and so how do we kind of help those people invest in something more passive or succeed without having to commit to that huge learning curve there that I think it, I think it does take to be a successful, you know, owner operator of a real estate business.    Jesse (14m 59s): Yeah, for sure. It's almost like multiple funnels. Like, you know, where, where is it, like you said, choose your own adventure. Because I think with one of the things I've always admired about brand and with the podcast with Josh and Brandon and something I've tried to do with this podcast is, you know, somebody says a term and you don't necessarily know, like you said, host hacking early, and then you kind of described it where, you know, somebody says something that your listener base may not know that he would always be very quick to be like, okay, this, can you define that? And that's great.    But to a certain extent, once you get to a point where there's a level of sophistication that you're talking about, you know, I don't know, like a waterfall structures for limited partnerships, it'd be very challenging to have that podcast or that show with having to explain every single thing. So I can only imagine for bigger pockets that, you know, multiply that by X and in that, that complexity. Yeah.    Scott (15m 52s): Well that, yeah, that's, that's the big challenge, right? And so how do you, you know, on, if you come to the BiggerPockets website, I can, I can create an experience there based on your information that drives you towards those goals. But the challenge is that the website is like one tiny corner of the bigger pockets experience, right? Because it's no bigger or smaller and a lot of ways than our podcast, our YouTube channel, our Facebook groups, our Instagram, you know, other parts of the book publishing business, you know, it's, and so that's one corner of the, the BP universe.    And so what we've decided to do is to begin building what we call sub brands of bigger pockets. And so that's where we have bigger pockets, money, and real estate rookie. And we're hoping to launch one more over the course of 20, 21. I'm still debating a couple of things, but I think there's a place for more advanced investors. And what, what the current approach has done is the personal finance piece and the rookie piece allow our core real estate, the bigger pockets, real estate podcast, to go a little bit more advanced and move away from that to a certain extent and get into some of that bigger business mindset there.    So in our new investors, our rookies can really learn about, you know, what cashflow is and how to analyze the deal and the basics of that on the rookie podcast. And so that's kind of been the idea. We think there's still yet another level of advanced discussion that could be had in another corner. So that that's kind of the highest level framework. We see a world where if you come into bigger pockets, you join in there in the real estate rookie universe. And that's how you get your first deal. And you're surrounded by peers, but led by experts with that, with, with our, our hosts and guests and those types of types of things.    And then over time, you move into the business building phase or the, the investing phase on our core, bigger pockets platform. And then maybe at a future date, you move into a advanced situation. Maybe if you're a professional flipper or professional syndicator, or you're an accredited investor and invest passively, there's a place to learn how to, how to do that and that all y'all and make sure that you're, you're doing a good job with the money and all that kind of stuff.    Jesse (18m 2s): Yeah. That's a great point. You mentioned the, the book publishing side of it. I I've always wanted to ask, you know, one of the members of the team, how did that, how did that start? Because you, you you've kind of teamed up with, with subject matter experts. And the first time I ever saw that, I don't, I can't remember which, you know, which individual it was, but, you know, it was bigger pockets as, as part of, so is that first of all, how did that, how did that begin? And secondly, is the, is it self-published or published by bigger pockets?    Like the entity bigger pockets?    Scott (18m 34s): Well, mechanically we have a wholly owned LLC called BiggerPockets publishing. So it's published by BiggerPockets publishing. So how did the book business come about? I think it, before I got to bigger pockets, Jay Scott had written the book on flipping houses and the book on estimating rehab costs. And, you know, I think it would be fair to say that I really pushed the publishing side of the business as a big opportunity for us with this brand and published the book on investing in real estate with no money down next.    And everyone was debating what we should write next. And I was like, how about the book on rental property investing that one? Right. And so, so we have a, a long standing tradition now of launching books, largely with very obvious titles, I could call them SEO titles. That was not, I don't know if that was the intent at first, but we were just like the fuck that rental property investor let's look at flipping houses, the book and estimating rehab costs, book and investing in real estate with no one looking low money down, buy rehab, rent, refinance, repeat, you know, and so that's, that's kind of our fleet there that has kind of transformed over time.    We found that people love the books. We have a really high, and, you know, you can judge whether your product is doing well in the mind of the consumer by what's called an NPS score. So that's a net promoter score, and you can think of this more or less along the lines of a star rating on Amazon, five stars. People love it. Four stars. People are neutral three and below people are detractors. And our books really, really seem to have high ratings, high NPS scores among the, among our customers with that. Because I think that they're a low cost way to really digest a lot of information.    And I think our publishing team is super consistent about finding a, a true expert. Somebody, you know, we'll talk about Jay Scott here. I know you just, you just interviewed him right before me, I think earlier today, actually. Right. You know, Jay, I can't gush enough about Jay Jay's. Jay Scott joined BiggerPockets. I don't know, 15 years ago, 16 years ago, he posted 17, 18,000 times to our forums over the course of that period, he completed 150 fix and flip projects, right? Maybe the guy is playing some underhanded game with no way.    Jay Scott is a genuine human who's proved his reputation over and over and over again, who has debated the nuance of every point. That every problem that you can conceivably come up with across 17,000 online discussions, God only knows how many other discussions he's had with people on an individual basis. And the guy can write, and he runs a successful business and has a track record for it. What, how can you find a better author than that? And that I think is a reflection on Jay Scott's character and expertise, but also a reflection of the power of BiggerPockets is we can find that person who is not just, you know, a recent just came out of nowhere, kind of person who, who knows what's gonna happen.    We can find people who have really embraced our values and, you know, seen success and like to help people and understand the problems that folks. And they're the ones who are kind of writing a lot of our, our books and content. So that's been a really powerful draw for us. People who are interviewing people day in and day out in the podcast. You get to know the challenges of that.    Jesse (21m 45s): No know Scott, it might be the long con with, with Jay.    Scott (21m 48s): Yeah, that's right. Well, if he doesn't listen to this, sorry, Jay.    Jesse (21m 53s): It was funny. He, he mentioned because we said we were talking about BB cotton, Nashville. The, so I, you know, I thought I assumed it was the official first one. And he's like, nah, it was the officially was, I spoke at the one in 2012 when there was four of us. But yeah, it was like, I don't know where there was one back then. So, you know, one thing I like, I'm curious, I think anybody in our space is curious that there gets a point where you put out content and you're trying to figure out if there is a way to monetize this content. And you know, one thing for me, I've been really fortunate to be a contributor for bigger pockets on the commercial real estate side.    I learned so much just, you know, doing, even though I live in the space of commercial real estate, I learned so much by putting that information out there. And I'll tell you the first time you have, you know, 70,000 views on something, and you're looking at comments, you start sharpening your pencil really quickly and try to make sure you know, what you're talking about. So it's been really beneficial from that point of view. But when you start putting out content and you start trying to figure out where is the monetization, and I find with, you know, we're not selling a product, we're not selling a, you know, mugs where you see a lot of people in our space go the coaching route or go into the, you know, substantative relationship.    And then they invest eventually with, with the company, is that, are you trying to fire on all cylinders? Are you trying to, are you picking certain avenues? And just on the idea of coaching will, will bigger pockets grow to a point where it's kind of like a rich dad, poor dad, where you have a brand, you have somebody that has, you know, drunk the Kool-Aid and they are, you know, the, the evangelists for BiggerPockets.    Scott (23m 30s): You know, I think, I think you begin to lose competitive advantage if you move in that direction. Right? So here's how I think about, you know, because one of my jobs is to make money for the, for our shareholders, right? That's, that's a goal for every CEO, right? With here's how I think about it. The moment that we deliver value to our customer is the moment that they transact on an investment property that they believe and have good reason to believe is likely to advance their financial position.    And my, my belief is that our business, we are in the business of helping people dive in, but then ultimately take action in buying real estate and they need to do it healthfully. As part of that transaction, there are four stakeholders who make a lot of money. One is the real estate agent. The second is the lender. The third is the insurance provider and the fourth is the property manager. And these are the people, the core four that, you know, a lot of investors need, right?    I guess a contractor instead of the insurance broker, but I will get to contractors later. I believe that it is very hard to find an investor friendly real estate agent right now. W where do you go to look for that? And I think we've got a lot of agents who would love to do business with BiggerPockets investors and a lot of investors who do not want a referral from their mom or their brother or their best friend. They want an investor friendly real estate agent. So I think, you know, what, what we've built and we've already launched in 10 markets and things are off to the races with this is a marketplace that you can go to biggerpockets.com/agents and find really high quality investor friendly agents.    Many of whom have grown up through bigger pockets and post a million times on our forums. Many of whom we've, you know, there's, there's more folks that are entering the game and trying to prove themselves as investor-friendly agents. And we can match folks with that. And I think that's a really big opportunity for us, if we can help people connect, get ready. And when they're ready after the time that they spend to, to, to, to learn about this, actually move down the steps toward the transaction and connect with an agent and a lender and that kind of stuff.    I think there'll be plenty of opportunity to make money in that process. As long as we do a good job, making sure that you're actually getting a good professional with that    Jesse (25m 47s): On that note, because you know, my world is in commercial brokerage, those type of realtors or agents that you're connecting, are they in the commercial space and more in the single family multifamily, where do they, where do they lie on the, in that world?    Scott (26m 4s): Well, I think you bring up a good point, the bigger pockets we, you know, the, the market that we're most heavily concentrated, we have a forum and community that can talk about every conceivable aspect of real estate investing. But I would say the majority of our users are going to be folks that are buying single families, duplexes, triplexes, and quads, a minority 10% have a great discussion about buying larger properties with, with those types of things. But the majority of our, of our users are doing that.    And 90% of single family rental properties in this country are owned by investors with 10 or fewer units. And 50% are owned by investors with just one or two units. So that is really kind of like the user of bigger pockets. Now, the folks that you interact with and you have on your podcast completely different profile than the average investor, right. But the, the typical person is, is fitting the description that I'm I'm describing here. The guy who likes to talk about real estate all day long is going to have a different profile than that, right. Is that that's where the voltage is more prominent anyways.    So what were you asking about?    Jesse (27m 12s): Basically, it sounds like that is the space it's it's the, the singles to quads is where you're connecting those types of agents where we're now for me, the reason I asked that is because when I was younger or sorry, earlier in my career, when I was in single family or student rental, it was really challenging finding the, see the link between residential broker commercial broker, and then in the middle there there's this investor centric broker that will do deals like you're discussing.    Scott (27m 41s): Yes. And we think that's the opportunity for us to in the next, you know, year or so to really solve a lot of problems. I would love to also do a marketplace for the more serious commercial brokers who are brokering apartment complexes. But I think we got to bite off one thing at a time as a business and, and concentrate our focus on the biggest challenge facing the majority of our users, which I think is transacting on single family, duplex, triplex quadplex long-term rental investments.    And one of the biggest things we can do to help them with that is help them find an investor friendly agent instead of an agent where they're going to have to figure out and drive all that process.    Jesse (28m 19s): Yeah. Well, I mean, you would have the data there. So I mean, if that, if that is the majority of, of the individuals, that just, that makes sense. And I think like from, I think there's a misnomer, or there's just a misunderstanding of, it's not the commercial brokers, aren't, don't want to do deals with, with a variety of different people. It's it's that ultimately, without getting into the granularity of it, it's the, the fee split or the, the commission split structure is just it's, it's, it's in such a way that doing deals less than 5 million, 3 million, it just, it becomes something where it's, you can't wait.    It literally is a waste of time that you can't spend your time doing that. And that's why they're, you know, there is a great place. I know in most major markets between 1 million and $5 million deals, that is a really great spot that I think a lot of agents aren't capturing and are starting to make that their niche of, of what they focus in.    Scott (29m 14s): And I'll bring you down just one more level from there, a single family rental home costs the same as a single family home, right. More or less than that. But, but the, the, the realtors and the agents, the local agents who are helping investors do that, do not understand things like the 1% rule or a cash and cash return, or the fact that, Hey, I care if it's a good school district, but that's like a fourth or fifth or seventh bullet point for me after the rent to price ratio that this property can command the longterm.    Other long-term factors around appreciation, whether it has amenities that are going to be that the tenants are going to like whether I can convert that office into another bedroom, those types of things. That is the level. Those are the, the, the more, I guess, accessible things that we're, we're, we're building, we're building a marketplace for investors to meet agents who can help them transact on residential real estate. 1, 2, 3, and four unit properties, probably in most cases, less than a million dollars, but in some cases they'll get, they'll get to that, that value    Jesse (30m 21s): Right on, well, we can talk in new Orleans, we can talk about some ideas to get those commercial and monetize those commercial brokers. I think from that point of view, it's really going to be on the listing side. Everybody has a buyer listings are where it's at. I want to be respectful of your, of your time here. I'm really curious to know about how you spun off the original podcast to the money podcasts. I I've, I've listened only admittedly to a few episodes, but it seems like there was a pivot to basically get the ideas of that were already ingrained in the initial podcast, financial freedom, money, personal finance, and move it in that direction.    Can you talk a little bit about how that process took place?    Scott (31m 2s): Yeah, sure. So, so the mission of bigger pockets and emission I share is how you enable financial freedom for as many people as possible as early in life as possible, because that is how you unlock human potential. And my belief is that there's a lot of people who want to invest in real estate, but just don't have a financial position capable of responsibly sustaining real estate investment. And this can be anybody from having debt and needing to rebuild their position to we've had millionaires on the podcast who have no wealth outside of their primary residence and their retirement accounts, $10,000 in cash and nothing else.    And they're not in position to invest either. And so the point of the money show is to help folks move toward financial freedom and a financial position, a strategy with their money that allows them to make on a repeated basis investments in assets like real estate and other businesses on a regular basis with that. So it's a, it's a very different bent on personal finance with that. And we've talked, we talked a lot of people, we have two major SEG well, so that's the reason for the show is to, is to really bring in the personal finance aspect of this and say, here's how real estate investors build a position capable of sustaining real estate investment investing and how they move toward financial freedom with that as part of their portfolio.    Jesse (32m 21s): Yeah, it's a, you mentioned it earlier. It seems like there is that there is that real estate avatar that you do enough of these podcasts where you're listening to, you're listening to a lot of the same stuff. You're reading books like crazy. You're, you're digesting as much information as you can, but you start seeing the same, even on YouTube, you start seeing the same pop up. And then you're like, you know, I didn't expect BiggerPockets have this guest on. I saw him in some totally different, you know, field or, or podcasts, but it seems like there is that a specific individual that, you know, multiple Venn diagrams, I think we all share.    Scott (32m 55s): Yeah. I mean, like right now, bigger pockets is a real estate investing platform, right? That's our, that's our core focus, but in 20 years, maybe that begins to shift gradually over time because the goal is financial freedom right now is financial freedom through real estate. But how do you just make that more accessible to more people? Cause that's, that's how you unlock. Like I said, human potential in ways that you can't predict those people who become millionaires in their thirties or forties, go on to start businesses, change the world, all that kind of stuff. And real estate is the nominal tool for a lot of people, but especially people making between 50 and $200,000 a year, when you make less than that, you can't really get to the starting point in real estate responsible.    You're going to take, you're going to take some big risks, you know, likely unless you, unless you're a really good saver for example, and you can make much more than that. You're probably not going to put in the 500 hours that I articulated before, because you'd be better spent just earning that money and dumping it into something more passive for like, you know, a syndication or something rather than buying the, the, the duplex. So you've got that sweet spot, but there's a whole bunch of opportunities for lots of billions of folks in that category who don't want to do real estate and other folks out there who want to achieve financial freedom through other means.    Jesse (34m 7s): Yeah, no, that's a really good point. The a 50 to 200 interesting to think about it that way for the future here, we're going to come up to a few questions. We ask every guest, but before we do Scott 20 21, 20 22, I think we talked a little bit before the show. It's been a insane last 18 months, it's it hasn't been easy for a lot of individuals, a lot of companies from a positive note, what do you see for opportunities down the line? You know, what is 20 21, 20 22 look like for yourself and the team?    Scott (34m 41s): Oh, for myself and the team. I think we're going to, I think we're going to be able to really create a world-class network of investor-friendly real estate agents, and maybe also investor-friendly lenders who understand the different types of loan products that you need for a duplex triplex or single family rental investment, those types of folks. I think we'll be able to build that those marketplaces. I think we are going to, I try to launch another podcast perhaps in that syndication space.    I want to let the team beat me up on that. We're not sure if we're actually going to do that quite yet, but that's, that's something that we're, we're noodling on. We have our conference coming up October and we've got a couple of good books lined up that we'll be releasing in the next 12 months as well. So I think we've got a lot of exciting stuff in the pipeline for bigger pockets over the next year. Awesome    Jesse (35m 32s): Man. Excited for it. All right. I got four for ya. Rapid fire. If, if you're ready to I'll, I'll sell them over. Let's do it. All right. Scott, first question, something that you know now in your career with bigger pockets that you wish you knew when you started out there,    Scott (35m 50s): You know, I, I'm going to get, answer your question very generally. I think there's a ton of mental models that a CEO needs to have around what good looks like looks like, especially from senior executives, whether that's finance, technology, marketing, HR, those types of things. And, you know, I don't know if there's a way I could've gone back and given them to myself, but developing those as the core responsibility of a CEO. And I think that's been the biggest challenge for me is understanding what are the essential outputs? How do I articulate them? How do I performance manage against those    Jesse (36m 21s): On that point of development? Again, it's, it's great to have you in this seat because it's something I asked a lot of people, and I think you see it from a, from a closer point of view, your view on mentorship for younger people that are getting into our industry or any industry for that matter. What would you say on that point? And maybe just with the added piece of what to watch out for what to be careful for, because I mean, you, you see it all on the, on the forum as    Scott (36m 50s): A hiring manager, as a men, as looking for a minute. Sure.    Jesse (36m 53s): I think for people in a real estate, trying to get in to the industry, your view on mentorship and, and you know, what will you would recommend or, or w what's been beneficial?    Scott (37m 3s): I think the informal mentorship is a really good approach. Like you're not looking if you're paying a lot of money for the mentorship, you better know what good looks like. And you know, here, here's a good framework. If, if you, you know, that you're probably getting on the right track to and begin investing, when you can meet with 10 investors who all outwardly appear successful and say, these two are really sharp. These guys are, are four formulaic, and these two are successful. They're really gonna they're, they're, they're really doing something crazy here. I don't understand it, or they're not doing it.    It doesn't make any sense or they don't seem smart to me. So I think when you can begin meeting with people that outwardly see more advanced than you, and kind of pick out the nuance in their approach, you're probably onto something there. And that might help you begin to spot that mentor. If you do want to engage in something more formal. Awesome.    Jesse (37m 53s): What is one resource? It can be a book podcasts that you are listening to right now that you would recommend to listeners. And I'll just put the caveat out also with this one, I'll give you one from BiggerPockets and then a, and then one outside of your space.    Scott (38m 9s): Yeah. I always, by default have the bigger pockets things. I almost never reference them. Cause I feel like that'd be a shameless plug. No, I I'm listening to good strategy, bad strategy right now. And I think that's a fantastic book. I I'm listening. I'm halfway through it and I can't remember the author's name, but    Jesse (38m 25s): We'll put it in the show notes. Good strategy. Bad strategy.    Scott (38m 29s): Yep. Richard Rumelt. Yeah.    Jesse (38m 34s): All right. Well, wasn't Scott. It's been a, it's been a real pleasure. Thank you for, for spending the time here for those out there. I say this all the time. Everything's a Google search away, but for those that want to reach out, connect, be part of this community, or just learn more, where can, where can they go?    Scott (38m 52s): You can find me on BiggerPockets. You can just search in the nav bar there. And my name will come up or you can email me@scottatbiggerpockets.com. You can find me on Instagram at, at Scott underscore    Speaker 2 (39m 2s): Trench. My guest    Jesse (39m 4s): Today has been Scott trench. Scott, thanks for being part of working capital.    Speaker 2 (39m 9s): Thank you for having me.     Jesse (39m 17s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you like the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care. 

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Chris Prefontaine is a three times Best Selling Author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer's Real Estate Investing for Women. He's also the Founder and CEO of SmartRealEstateCoach.com and host of the Smart Real Estate Coach Podcast. In this episode we talked about: How Chris got into Real Estate The “On Terms” investment strategy Non-bank financing Owner financing Principal only payments Family run businesses Importance of value and mission statements The value of discipline The power of self accountability The impact of Great Recession on Real Estate profitability Searching for Deals Distribution of Team Roles Opportunities in 2021 Mentorship, Resources and Lessons Learned Useful links: https://smartrealestatecoach.com Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, welcome to working capital the real estate podcast. My name is Jesse Fragale and my special guest today is Chris Prefontaine. Chris is a three-time bestselling author of real estate on your terms, the new rules of real estate investing and when Nika Sawyer is real estate investing for women, he's also the founder and CEO of smart real estate coach.com and the host of smart real estate coach podcast.    Chris, how's it going?    Chris (47s): I am doing awesome. Thanks Jesse. Thanks for having me on.    Jesse (50s): Yeah, my pleasure. Like I was saying before the show, we're very happy to have you on, I did get a copy of your book. I believe the one I received was new rules of real estate investing. I brought that into, into the brokerage into the office. So a lot of good stuff in there. I found it really interesting just because it took a little bit of a different approach as it was kind of a best or greatest hits of different people and different experts giving their view. So hopefully we can get into that. How's everything been. I mean, we're in a bit of a unique world right now.    How have you, how have you been fairing over the last, the last year or so?    Chris (1m 27s): Yeah, we're super busy. I hate to, I hesitate all the time to say that, cause I know some people get hurt, but literally from April 1st, 2020, we have crank and it got a little tight with the market being so crazy these last few months, but we're literally, as of this morning, seeing the people commenting and the deals going up through the roof again all across north America. So that's kinda neat. We built this to kind of hit all markets and it's doing well with it, you know, it's been tested.    Jesse (1m 54s): Yeah, for sure. So for listeners, a little bit of a background, your experience ranges back into the nineties for those, you know, that it's the first time hearing your name, hearing you speak. Maybe you could talk a little bit about your history and how you got into real estate. Obviously, you know, you've seen more cycles than a, well, I'd say a few of the guests that we have on more than I wanted to probably yeah. So high    Chris (2m 20s): Level, right? Cause it would be 30 years. It'd be here too long, but I, I journeyed into real estate doing some building. I never was a builder, had a partner who ran the field. I ran inside. We did everything on terms back then without knowing it without calling it terms, I was in my twenties. So we, we found lots. We pre-market them. We sold a finished package and everybody could pay it a day and it was pretty cool. I then bought a Realty executives, franchise, mid nineties, sold that to Coldwell banker, ultimately in 2000. And then I started coaching people throughout U S and Canada, heavy Canada at the time, coincidentally up in Toronto, but 48 clients or so up there that while that was going on, I started doing some of my own investments from 2000 up to the crash.    And then that brought us to today in the sense that the crash has beat us up. I mean that I was on personally on signature in the U S on loans, 23 properties or so. So in the values drop where they come in, they're coming to me, unfortunately. So that caused us though, Jesse to rewrite the rules. So to speak, not to use the book, no pun intended there, but causes us to recreate what we're doing. Re-engineer what we're doing. And that is now we buy everything on a terms. We do not use banks. We don't sign personally. We very rarely if ever used that capital and that way I can go to sleep at night, knowing that we're not at risk, if we were a pre crash, you know?    So we've gone through all those storms that you alluded to and rebuild this model to only buy on terms.    Jesse (3m 43s): So before we get into that, the clear follow up question is would, is on terms. But before we do in the nineties and subsequent to that, w w was the wheelhouse for you in real estate? What, was there something that, that, you know, gave you the bug of, of wanting to get into real estate, as opposed to, you know, other areas,    Chris (4m 4s): You know, the bug so to speak was when I was younger, my dad was not in real estate. He would, he had a welding business, but he had branches. And as he would expand, he personally would build the building and lease it back to the business. And I was young and I go, whoa, you're the same person. How does it, like, how do you do that? So that's where I started to learn real estate. And it was kind of cool. He always said that up until a few years ago. So then he would find land tracks of land engineer, do the engineering and flip them. So he just always tinkered. And I had, I really was around that environment a lot. And then, so as soon as he sold the company back in 91, I think he sold his company where I was working.    I went into real estate. That's when I started building    Jesse (4m 41s): Right on. Awesome. So let's move on to that for, for listeners. W w you know, you hear in the industry, I mean, not so long ago, the first time I heard that on terms, you know, you alluded to a little bit about getting non-conventional financing. Why don't you give listeners just kind of an understanding of what that means?    Chris (5m 1s): Yeah. So for us terms means a better word that people would recognize as creative real estate, right? So terms for us means three things. We buy, lease, purchase, owner financing, or subject to existing financing, lease purchase being, in my opinion, the simplest entry, if you're new, we're looking to expand what you're doing, because you're not taking title. Your risk is definitely minimal. You are in our agreements. Anyway, you are putting up $10 for at least prejudice. All our properties.    We could show about 80 million with our students in our own, and there's not more than a few thousand spent total on all the 80 million control, because a lot of us that own these purchase on a freelancing niche is a little bit different niche. We drill down deeper than just regular on a pricing. We look Jessie for a free and clear properties. So owners that are free and clear, they're in a good spot. Most of them not even in the market and they want longer term, they want the, the, the, the estate planning or the tax planning to be longer term my building. I'm not in it today, but my building right, five minutes from my house was bought from an investor who had this building for 120 years, 18 years, it was free and clear.    And he sold to me on owner financing. You know, I don't care where you are. If you go for a mixed use building loan right now, it's grueling underwriting. I didn't do any of that. It was a handshake quick PNS closing in 30 days done. So just,    Jesse (6m 23s): Just to recap there, lease purchase owner financing, and what was the third one subject    Chris (6m 28s): To existing finance. So sub two for slang, sub two. So that means I buy your house for those listening and you owe some money on it, but I'm buying it. And the loan is staying in your name, even though deeds transferring. And so, again, I own the house. I don't have a lease purchase on it. I own it. And I'd appreciate it. And I get all the owner benefits, but the loan stays in your name until someday I cash it out.    Jesse (6m 49s): Interesting. I, you know, I've, I've heard, I've heard this recently called something different, but that, so in the, in, so it's not, it's outright ownership. It's not a lien on the house. It's you actually owning and being like you said, being able to depreciate.    Chris (7m 2s): Yeah, no, definitely own it. It, you know, disclosure do, do people who have a ton of equity typically, are they okay with entering into that with their name and alone? No. Do do sellers who don't know you that well, gladly jump into that environment. No, not all of them. Now, many of them will enter a lease purchase. We'll build up the trust will build up the credibility and we'll transfer that to a sub to later that happens a lot or someone needs immediate debt relief, and frankly, they don't care.    They want it done. They'll do sub two.    Jesse (7m 35s): Yeah. I could see that. I mean, the logical movement from owner financing where, you know, sometimes you have two, three year debt and then having a track record and building up, and then being able to push the relationship further, the lease purchase th this, this piece here is this, would this be similar to an assignment or a wholesale or, or is this something different?    Chris (7m 57s): Good question. So the way at least purchase works and you can circle back and say, yup, bingo or no, I didn't hit it. So all these purchases like this, let's say your house, we agree it's worth about 300 grand. You owe about two 50. My lease purchase says, I'm going to start making your underlying debt payment on your behalf, but everything stayed in your name. Once I find my buyer, we put tenant buyers in these homes rent down. So once I find my buyer, I got, and I stopped making payments on your property with the promise that on or before the end of the term, I'm going to pay off your loan, which is less.    Now that's my benefit. And I'm going to give you a 50 grand equity that we agreed. You had some projecting that as long as you can wait for it. So what's the difference between that and maybe an assignment or a wholesale. We get paid three ways on all our deals. So we trade rocked out in the United States. So we get, we get payments upfront. We get payments over time. We get payments when we sell versus one payday. So, which I did for years, it's lucrative. But I don't know if that answered your question. Yeah.    Jesse (8m 52s): I think it did. In terms of, you know, you hear so many different terms in real estate and really trying to drill down on what exactly it is. And that could go from, you know, everything changes from country to country, state, to state province, the province. And, you know, there might be just a wrinkle. That's a little bit different. You mentioned patented or certain trademarks. How did you go about that process? Having that trademark? Are you talking about the, just the term itself?    Chris (9m 15s): Yeah. Three paydays. So we created that after we re-engineer things after the crash to get paid three times, I just started saying, wait a minute. It's like, I'm on a treadmill. Real estate treated me really good, but it's like, you're on a treadmill. Every January, you start over, right. If you're doing building or wholesaling or you're real tight, did that for years. So this way we get paid three times and yeah, we had attorneys file in the United States, took awhile for three pay days. We have all the things like our logo and things that in the company, but three paydays was an important one because no, one's had it.    Jesse (9m 43s): Yeah. It's almost like you want that recurring revenue in the real estate version of that. Yep, absolutely. So for, for yourself, Chris, when, at what point did you make the move or maybe it was at the beginning, but if not, what point did you make the move from going into real estate? Full-time that, that this was your full-time gig?    Chris (10m 3s): I started tinkering with it around, well, I've always tinkered with it, but late eighties, I started tinkering with it on the side, so to speak like a lot of people do. And then when my father sold his company, 91, the company lasted as a corporate structure. I was used to entrepreneurial mindset. I lasted about maybe three weeks before they fired me. And my kids were probably a two and three at the time. So that, that, you know, you get a severance practice for four weeks and then you're out. So I had to kind of move fast. Luckily I had a couple deals going and then we just ramped it up right    Jesse (10m 34s): On. So for, for the comparison, you know, we talk a lot on this show about real estate, flipping wholesaling, apartment buildings, commercial real estate is the space that I live in. You know, what's, what's the difference, you know, what's the value add here, or what's the, the value proposition or difference with this type of investing?    Chris (10m 54s): Well, first I'll say, cause I have, I have all of those niches that you just said on my podcast, good friends. So I'm not, I'm not against any niche. They're all wonderful. And they're meant for some, all the lessons are going to attach to what they want, in my opinion, why I gravitate towards this and stay with this after all the things I've done is the, the minimal risk. I'll never say none, but the minimal risk because I'm not going on any loans. That's the Milan number two from going to get paid. Why not create three pays per one deal? It's real simple. So if I do a deal today and it's, even if it's a hundred thousand all day, I'm just using that number.    It's over. If it's a build or flip or wholesale, if I do a deal today, and it's three pay days, I've got somewhere around 75 is our average, but 75 to 250 grand paying me over the next three years, next deal next three or four years or five years or 10 years. So you have this spreadsheet. Eventually we have all this income coming in. You can take six months off if you want predictably, and you can see where to, once you track all this. So the three payday and the low risk is the, is the main reason. The third is it was built. Jesse, if you remember my steroid coming out of the crash, it was built not just to kind of weather the storms and then COVID slapped us.    And then we went, okay. Work, not only at work, but we thrive. So it's a great tool for up down and flat markets really is. So    Jesse (12m 7s): What was it about the, the crash or the great recession that, that really amplified or put a spotlight on how lucrative or beneficial this type of investing can be?    Chris (12m 20s): It wasn't, it was from a defense mode. I wish I could tell you that I brilliantly thought of this thing was going to be great after, but I didn't. I, what I said was all right, I just had four years, it took from oh eight til 12. I had four years of just garbage, you know, loans being called for colleges workouts the whole bit. That was, that was stressful. So it was more, what can I do that? Doesn't go that way ever again. It wasn't, oh, I got this brilliant light bulb then organically. It evolved to the three paydays and to building what we, what we built today to be doing deals all over the country.    Jesse (12m 52s): So Chris, when, when you put these deals together, if from a high level, what type of structure do you typically use? You've talked a little bit about that. You know, you have different people on your podcast, you hear corporate structure, LLCs partnerships. W what would you use for this?    Chris (13m 9s): Ah, good question. So in the lease purchase is pretty simple, Jesse, because you're not taking title, nothing's even going to show up on record. So we just had that and we started in an LLC. It's your comfort level? It's like my attorneys to say, when the basket tips over, are you comfortable with what's in it? Right? So we would do a 10 or 12 deals in one LLC on the sub two deals. It gets a little bit more, I won't say complex. It gets a little more detailed. We take it in a land trust. A company is the beneficiary. So it's a little bit more anonymous and on the, on a Francine deal, same thing, LLC.    Jesse (13m 43s): Got it. One of the biggest things that we hear, and I'm sure you've heard it on your podcast, especially at this point in the market, even with, with the, you know, the last 18 months is just the ability to find deals or inability to find deals. How do you approach that? What's the, what's the method for yourself when you're looking at it through the context of terms.    Chris (14m 5s): I agree with you, first of all, wholeheartedly it's we are talking to more sellers to get a deal. Now there's no question about it. So I always tell my students, like literally today, we're talking about this, a fish in a different pond. So I love fishing in the pond of these free and clear properties, for example, because usually they're not dying to sell that are harder to sell. They don't want to pay a relative they're free and clear. They just have, I'll call it an ego. It's a healthy one, but it's usually I want this price. I don't care what's going on. We don't care about price if I, if we get the term.    So they love that because you're satisfying their price issue. So that's one point deficient. The second one is unfortunately now, just so you know, this, there's a lot of people that need help right now. They're kind of like below the radar, they got beat up a little bit with COVID or they had these forbearance agreements that are now coming an end or stressing about. So we're finding a lot of those finding us where we've, where we've set up our name properly in these markets. Those are two great areas to fishing because they want you, they, they want a guy and they want different, do I fight for MLS properties or properties that are, or else is going to have to know?    It's just to your point, too competitive right now.    Jesse (15m 10s): Yeah. And what I found, you know, when you described this type of investing and even in your book, what I think just comes to mind, right. Or right or wrong is I always think of more push marketing or sorry, pull marketing rather than push marketing. I feel like you put, you go out there and you put yourself, you put your name out there and have people come to you at a certain point, but it is first of all, is that, is that the case for what you do and has that evolved since you, since you started,    Chris (15m 39s): That's a great observation. So what happens is typically for us is we'll start a new student. I just had two brand new ones on today, and I'll have them doing what you just referred to as push, because they've got to start cultivating something. And as they rise in the ranks, I'll say for lack of a better expression, we teach them how to become what we call the authority so that yes, now you get more of a pull. You're establishing yourself more and more. You're layering in all this authority stuff, whether it's a book or a podcast or a blog or whatever it might be. So you are the local expert. So when these national companies come in, they're in every market we're in by the I buyers, are we calling all these other companies?    They don't really affect us because we're the local expert once we've got established. So the answer is, it's both it just transitions to more pull a little bit later on in the career. And it usually takes a good couple of years.    Jesse (16m 27s): And from a, a, you draw out a well-oiled machine now, just from a, a cost perspective, you know, does the marketing take up a large, you know, percentage of, of what you do in terms of costs? You know, after a while, I think people that are in your space seem to seem to have a knack for what they're doing. Do you guys put a lot of resources and effort into the marketing?    Chris (16m 49s): We don't mailing wise. I know like the wholesalers that I know, oh gosh. How was that? How was that a group of private group wants, and someone was spending 10, 20, 30 grand a month. Yeah. We spend to do ideals that they create three paydays. And that average us a low of 45,000, a high of two 50 per deal. All three we're spending overhead wise about a grand a month. Our students were spending more now. So what's the ramp up the ramp up would be more, I'd rather put a VA on a virtual assistant, calling more houses than I would put mailing pieces of the door only because I know, I know the metrics now, you know, he was doing terms 30 years in the biz.    I know the metrics. And then a little bit more predictable, in my opinion, in number two, I don't want a new student. It's a bummer. When you have to say to a new student, Hey, you know, you have a budget of five or 10 grand a month. So we don't do heavy marketing. Believe it or not. If we do it's in the hundreds per month, not thousands of tens of thousands.    Jesse (17m 41s): Have you found that this type of approach has, has had a, a state or two that it's something that really works and is, is really conducive to in other states not so much. And what's, if so, w what, what are those?    Chris (17m 60s): Okay. And this is a good question. You're hitting some good high points that I usually don't get. So this is awesome. It's usually not the state. It's usually, I don't care if we're in a flat or down or up market. It's usually going a little bit on the outskirts of, of kind of like, let's say, New York city, would you be doing a lot of terms deals right in the city? I'd rather you go out a little bit, cause you're gonna have a little, it's gonna be a little hectic. I want to go into the outskirts. I want to go where even in a hot market, you have some expired listings in the MLS that, you know, I want to go out a little bit to get out of the frenzy. That's all.    Jesse (18m 31s): Okay. And w w what's the, what's the rationale there? It's just that there's, there's more volume. There's, there's more of what you're looking for there. As, in terms of a,    Chris (18m 40s): You need our guidance more, you know, right now everything's selling so quickly. So like you said, we got a fish in different ponds, but one of those ways to fish differently is just go out a little bit from the frenzy. Now, keep in mind. Remember I said, one of my favorites is free and clear. Yeah. Well, a third of the property in the United States, roughly a third are free and cliff really that's all the, all the country. So how about, how about just talk to the free and clear people. They want to talk to you. They're awesome to deal with. They don't need money, quote unquote. And they would've pulled it out already. Right? So the fun to deal with,    Jesse (19m 9s): That's fascinating. Three out of four, three to four properties that are owned in the states are free and clear.    Chris (19m 16s): One, one third, one third are free and clear. Third. Yeah.    Jesse (19m 20s): Yeah. You haven't even 33%. That's pretty, that's pretty amazing. Now for, for your process to find these, whether the, you know, is it secretary of state, is it a land registry? Where do you go to find the properties that you know, are, have a mortgage paid off?    Chris (19m 35s): We have two different softwares we use that are free in our resource center, but the one that does the free and clear very well is prop stream. Let me do a great job. And then freedom soft is, is where we pull a lot of, out of the less. It's crazy. Now you can, you know, I can only set to the sky today to show. You said, you could find out, you can go geographically and go. I want everybody in this zip code that has a mortgage of this much percentage. And you know, where's pink socks. I mean, you can buy any data now. It's crazy.    Jesse (20m 3s): All right, one sec, let me make a note of pink socks here. You know, what it is, it is pretty amazing how the, I think it's a good thing. A lot of this information has been democratized, just my, you know, myself being a broker. I've never been of the mind that having this stuff unavailable to the public was, or having it just available to us with some sort of, you know, competitive advantage. I feel like if people want to get information and, and can use it properly, I mean, if it really came down to access, we would all be millionaires and ripped because, you know, w where was Google 30 years ago.    So take us to the book. I, I, like I said, in the beginning, it's, it's a very interesting book in the sense that it's, it's kind of a amalgamation of different viewpoints experts. And for those that, that want a link, we can definitely put one in the show notes, but yeah, take us back to this process. Every person I've talked to that has, has written a book. I know it's a long and challenging process. How did that go for you?    Chris (21m 1s): Okay. So here, here's how it went. And here's why, so the first book we did, and then we we've since revised it, and it's a bestseller it's called real estate on your terms. And it was very us like very niche. How do you do what we just talked about? You and I, and so some people on my show said, well, that's great, but you seem bias. I said, I'm biased because that's what I do now, but I'm not so naive to think everybody has to do that. So then we said, all right, so let's take all the podcasts interviews that we have a majority of at the time, and let's take the 24 or so that we love the most that we think that can be the most broad.    And let's have everybody do a chapter. And so that people could look at us and say, it's free info. We're going to go look at the 24 different experts in this book, we did the new rules of real estate. And then we get to pick where we want to go. And if it's termed great, if it's tax liens, great, whatever you want to do, I just want it to be more out there of prosperity mindset versus no, this is the only way you do it, even though clearly I believe that because I'm in it, but that, that everybody has their fit, right. Here's a quick formula. I say, when you read the book, do this say, okay, what niche can I get behind?    Like what, what do I get rubbed about too? Can I find someone in that niche that already did what I want to do with success? Leaves, clues. There's no reason for you to reinvent it, right? I didn't create terms. It was available in the 18 hundreds. And then third then put blinders on for 36 months. If you do that, you'll have a great experience at any niche. So I wanted to expose them all. If that makes sense. Long answer to a good question.    Jesse (22m 25s): No, it does make sense in terms of how you want about picking your, your list there. What was it, what was that process    Chris (22m 32s): Like? I wanted similar to my show recently, I'm really picky with this. Now. I wanted people that have been through market cycles and, or life events, both a great, so example for me, my son had a head injury and no three doctors told my wife and I had never walked talk or eat again. He's running the business with me then nine 11, and then COVID, and then the different market. Okay. So this some crap thing, right. That people can learn from while same in this book. If you look in there that one of the, the guy that does tax lanes, I think he's like 82 years old and still doing it.    Well, you can learn a crap load from him. Like I just wanted to experience versus brand brand new. And it's not that, that bad. My son's been, my son-in-law has been at this for seven years. He knew do hundreds of deals now, but, you know, he learned from some great mentors, but, but by and large, I wanted a lot of experience. That's all. Yeah.    Jesse (23m 18s): I, I live really like that format. I think it's, hopefully I don't butcher this, but I think it's the Titans of real estate. A book I read recently that was similar in layout. You know, it was real estate, but you would have on one side of developer, another side, a investor in industrial and other side office. So it was really good to get every perspective. And like you said, it's, I mean, it's not gonna appeal to everybody. You're gonna be biased in certain ways. There were some chapters where halfway through, I'm like, yeah, you know what? Good, nice to know. Not really, not really my cup of tea. You talk a little bit, or you, you talked a little bit about your son there.    One thing I thought was really cool, just like when we got Jake and Gino on a very family-oriented, I'm the same way your team, you picked some of, some of the people closest to you. Maybe you could talk a little bit about the team that you have in what you're doing and how that's, how that's impacted you and, and just day-to-day life. Yeah. And by the    Chris (24m 9s): Way, I hung out with them too. I think I was on their show on vice versa, that fun Jacobs, you know, they're good guys. You know what? It's somewhat of the answer I gave you that when I said I didn't brainchild that the niche and kind of organically happen, what happened to this business? And the family was, Nick has always been around me. He witnessed a lot of the stuff I went through in oh eight. We literally share an office. That's my son. So when I get busy and 14 ish, I think it was, he started as a broker at the same office as me. I'd go, Hey, I can help you on the buyer side, I get it. I not do this online. And they said, great. We started slow.    He then went full time. And then my son-in-law and my daughter, Kayla were in the bartending and personal training business in this area. That's big, it's a tourist area. And money was good lifestyle crappy. So they said in 15, is there any room for us to come in? I said, you have game for like incentive. We do deals. We make, we don't, we don't, you don't get paid if you're good for that. So they came in, everyone kind of organically took what they like, Nick does buyers still, Zach loves doing what I didn't duplicate me. Kayla ran the office. She's busy with the kids now, but the point is, they all organically, when it wasn't like I had this massive plan kid said, Hey, let's hand fuck these people.    Right. So it's good. That way it's helped because everyone does what they really like to do in their own zone. That's how it started. And now I've got a team of like 12 or 14 people.    Jesse (25m 23s): Yeah, that's great. What are you? You know, what are the opportunities at this point? And we're in 2021 or halfway through the year, it's been a tumultuous 12 to 18 months for a lot of people. But I think every person that's been on this show has talked about opportunities. We're where are you setting your sights on right now?    Chris (25m 42s): Hey, this is what I've been screaming about. And to this day, I think tomorrow night, I'm talking about it with a group. And that is, I think, as the market slowly starts to turn again. And who knows when, if you and I knew we wouldn't run the show together, it would be on a beach somewhere. But when it does, I think in the next nine to 12 months, anyone in the terms, niche or Marietta reasons for another show, and it's the opportunity to get probably a decade worth of income. And the reason I'm saying that is this. I look back to like 13 or 14.    Some of those deals are now cashing out, literally like this month. And I can equate all of the next six weeks, probably half a million to a million more in cash outs for our personal team, not the students all coming from a few years ago. Well, the, the market right now is screaming for deals outside of the conventional bank. My opinion, the amount of deals being done in the us outside of banks used to be like one or 2% in the nineties. It's I don't know the percent now, Jesse, but it's big. It's like in the teens, that's a lot of deals and need the guidance and they, they there's tied a lot of the bank crap going on.    And so I think there's a big opportunity that in our niche, that's why I'm putting full gas pedal down, starting April 20. We just not doubling down versus pulling back.    Jesse (26m 56s): Yeah, I wish there was, there was more re like there are tons of resources out there for real estate, but ones that you can trust because, you know, we're in this space I've been investing for, for quite a number of years. You have been, I have the benefit of being in brokerage. So a lot of these contracts and these things that you do outside of the normal normal realm of financing, or you know, who you're dealing with in real estate, or just something that we're surrounded by. And I think people, you know, that say the PR the private or exempt market for instance, is just one example.    I think people generally speaking are afraid to, to deal with that because it is something that looks like the gray market, something that they don't normally do every day. So that's a good point. I think that that opportunity is, is something that we're going to see more and more of and, you know, leading, leading into my next question with that in mind is you teaching or coaching you mentioned is, is that part of what you're trying to do right now is kind of explain or demystify this type of investing to others.    Chris (27m 58s): Yeah. You said it right. We literally our mission, we have a mission called the kingdom town mission. Our mission is to dominate the, the education field and real estate by helping associates. That's what we deal with. That's what we do deals with. We call them associates by helping them complete 500 deals by 2022, and then we'll rewrite that. But the reason I shared that relative to exactly what you said is so far, we've helped about 1400 families between the deal with the buyer and seller and our students do the deal outside of a bank, right?    It's a lot of families. So then you start affecting them generationally that disruptive market a bit. So we're out on a mission to do that. I know it's a long road. There's only a small percent of younger 20 of these deals that are being done and where we're a tiny fraction of that. But that's where we're going with that because lives are being changed because of it. And you said something about trust. The big thing right now is like, I call it bridging the gap from the time someone does a real estate seminar or course, but when they actually do a deal, some people don't get out of it. I get calls weekly saying I never did a deal.    I follow so-and-so. It's crazy. So, so we don't focus on selling a course. We focus on doing these deals and affecting lives. It's pretty cool. And it's rewarding as heck.    Jesse (29m 9s): Yeah. I, you touched on something great there. And I think there is, I mean, there's oftentimes a analysis paralysis and you have people that listen to podcasts and read books, and it's one thing to, that's all great stuff, but a certain point you got to take action. You don't want to be that guy or gal that three years, you know, you're hearing the same podcast. You're hearing the same people, but you've never actually taken action.    Chris (29m 30s): Yup. So    Jesse (29m 32s): For, I do have just a side question here. You were, again, like I said, you were fortunate to send me, send me the book, wicked smart is I have something to do, set it. Well, I was going to say, so for listeners, I got a shirt and a book, and I was like, you can't look at that shirt and not say wicked smart. You just think so. I think of like Goodwill hunting or a Bostonian accent is that, I mean, it tells a little bit of the background of that you're in Rhode Island right now. So I got to feeling that it's something to do with that. Yeah.    Chris (30m 2s): It's fun. It's yeah. Boston area, wicked smart. We w smart real estate coach was first. And my wife thought of that way back in like 13. We, so we started that. And then we recently trademarked the name. And then, and then the LLC, we changed names to wicked smart. It's our brand. Now the, the, the wicked smart community is all associates. The wicked smart listeners as the podcast list says, it's nothing more than kind of a new England. It don't work because the name was already smart, real estate.    Jesse (30m 29s): Careful here. I've heard a trademark three times here. I've got to be careful. What I put in the show notes. Am I to get a couple of calls from your lawyers? So we, we asked four questions to all the guests that we have on the show before we wrap up. And if you're cool with that, we, we can hit you with those. Then after we'll, we can go over, you know, where people can reach you and a little bit about what we, what we'll be putting in the show notes. Awesome. Okay. Number one, what's something you know, now that you wish    Speaker 2 (30m 57s): You knew at the beginning of your career    Chris (31m 0s): With certainty, the fact that everything you possibly could think of that you want to do, someone's done it. And I know that's easier said than done. I thought that when I was younger, but the only two times I ran into trouble in the rockets and had a tough time. I look back. If he isn't going to realize I didn't have that mental, because I got too cocky. Like I know, and I know literally everything you can think of, it's someone did it go find it and model it    Jesse (31m 23s): Right on ties in nicely to the second question we ask our guests, your view on mentorship for the guys and gals, young and old, what are, what's your take?    Chris (31m 35s): Well, look, I'll give a good example. A direct example. Again, Jesse, we have stuff we can sell people and they can disappear. Never talk to us. It's okay. But the fact is without the hands-on guidance with us or anyone else like that, formula Gabriel, you have three steps. You will leave money on the table. So why not do it more profitable, more, more quickly than the opposite? Why not? It's crazy. So I can attribute. I could pick out in the last 10 years, it'd be at a time I could pick out each mentor I've had in literally attribute for a million million to that particular relationship.    So it's, it's, I couldn't stress that enough. And people say, I can't afford it. Yes, you can. If you simply get resourceful. When I came out of the doldrums of the crash, I found some of that. I said, look, I'm going to crush it with this particular mentor. And as I do deals, I will give you a third or half whatever I told them until you're a hundred percent return on your money. You can get resourceful. If you believe in yourself and your mentor, you can go find the money when it's not certain,    Jesse (32m 33s): For sure another good lead into a resources. So right now, stuff that you've had, you know, whether it's a book, whether it's a podcast, what's a resource you're you're into right now that you'd recommend to, to listeners.    Chris (32m 47s): Okay. Depends on what stage of the business they're at. So it's, so instead of being a general and say, mentor, if you're at a stage where it's at least you and one person on your team, at least two people, and you're at a stage where you're kind of have a goal to get to that seven figure, mark, there's a group I follow still to this day. Since the day I met him at 17. Although he entrepreneurs amazing group, I attribute most of our scaling and success to them. If you're a smaller entrepreneur, solopreneur, it's back to what you and I already talked about. Find someone specifically, that's doing what you're doing and go latch on with them.    Jesse (33m 20s): Great answer. Final question. First car, make and model    Chris (33m 25s): 1978 deep wagon there Jeep wagon ear.    Jesse (33m 31s): I like it right on. Okay, Chris, you've been really generous with your time here for listeners. Where could they find you? What, what can we put in the show notes?    Chris (33m 43s): I just thought of two things, as you were talking, you asked some really cool questions about the book. So one is wicked smart, sorry. Smart realestate coach.com is the main site. So you can hit the webinar there. It's free. You can get a lot of free resources there. I'm big on free. Find out if you want to do this niche, right? Secondly, because you have so many cool questions with the book I tell you what we can do, and my support will love me. But you can put in the show notes, I'll give you the support email. I'll have you want to do it. They can get the hard copy so they can get the hard copy of the new rules and the hard copy of real estate on your terms, we'll mail or our expense.    You won't put a in, we just need an address. So put that in the show notes. And then if they want a free call, there's a really cool strategy expert we have now. And just 18 months ago, he wasn't even in real estate. His name is Brian. And if you've got a smart realestate coach.com forward slash action, you'll get a free strategy call with him. They'll tell you a story and see if it's a fit for you. And you can keep digging free until you decide what you want.    Jesse (34m 38s): My guest today has been Chris Prefontaine, Chris, thanks for being part of working capital. Thanks buddy. Thanks. Pleasure. Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one.  Take care. 

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Wie bekommst du das besser hin, genau dann nein zu sagen, wenn du nein sagen willst? Wie kannst du genau durch ein NEIN dazu beitragen, dass dein Leben und unser Miteinander zukünftig von mehr JA erfüllt ist, dass du sogar mehr geschafft bekommst und besser in Kontakt bist mit anderen? Es hat ganz viel damit zu tun, was wir über das NEIN und seine Konsequenzen denken. Das muss aber gar nicht so sein. Im Nachgang lassen sich daraus leicht Erkenntnisse übertragen auf die Frage wie wir auch ein nein von anderen Menschen leichter annehmen können. Wie können wir uns also gut für uns und unsere Bedürfnisse & Werte eintreten, uns selbst behaupten und gleichzeitig (gerade dadurch) mehr gute Beziehung zu unseren Mitmenschen erfahren? Im Einzelnen erfährst du: ➡️ Dass es vor allem darum geht, dass wir dabei FÜR unsere Bedürfnisse und Wünsche eintreten lernen, und eben nicht GEGEN den anderen. ➡️ Dass wir gute Gründe haben, warum wir JA sagen (wenn wir gleichzeitig manchmal NEIN meinen), und dass uns genau diese Gründe auch zu Erfolg im Leben helfen. ➡️ Dass es oft „nur“ unsere eigenen Vorstellungen sind, die uns davon abhalten NEIN zu sagen. ➡️ Dass feste Reiz-Reaktions-Muster beim Thema nein sagen eine große Rolle spielen. ➡️ Dass es hilft, sich diese eigenen Mechanismen bewusst zu machen, und dass Selbstempathie hierbei eine gute Methode ist. ➡️ Dass ein NEIN zu einer Tätigkeit, Aufgabe oder Handlung durchaus ein JA zum damit verbundenen Menschen in sich tragen kann. ➡️ Dass der Blick auf die Bedürfnisse von uns allen auch die Annahme eines NEIN von anderen erleichtern wird. ➡️ Dass es keine Rechtfertigung für ein NEIN braucht und manchmal das NEIN uns auch mehr Freiheit im Miteinander schenkt. ➡️ Dass NEIN sagen in kleinen Schritten geübt werden darf. Fazit: „Ein mutiges NEIN sorgt für innere Ordnung und mehr JA zum Leben.“ Shownotes: Buch - Das kleine Übungsheft: Grenzen setzen – nein sagen, von Anne von Stappen Buch: Marshall Rosenberg – gewaltfreie Kommunikation – eine Sprache des Lebens Podcast: Markus Fischer zum Thema Gewaltfreie Kommunikation: https://knotenloesen.com/podcast-gewaltfreie-kommunikation Die Webseite der Neue Narrative: https://www.neuenarrative.de Mehr #neuestärke haben? Dann einfach den Podcast abonnieren: Das geht ganz leicht hier: https://linktr.ee/JuliaPeters Da kommst du auch zu mir auf Instagram oder LinkedIn. Und teile diese Folgen auch gerne mit Menschen, die diese Inspiration auch gut gebrauchen könnten! Ich wünsche dir eine gute Zeit! Bis bald und bleib gesund! www.juliapeters.info Der nächste Purpose Workshop bei mir findet voraussichtlich statt im September im Rheinland: https://juliapeters.info/purpose-wofur-leben. Bitte erfrage gerne die genauen Termine bei mir per Mail. Außerdem schau gerne mal vorbei in den Events auf www.the-purpose-network.com.

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CPI Capital has developed a reliable system for investing in multi-family properties in strategic markets across the United States. Our offer to our valued Investment Partners is an opportunity to invest in income generating properties with considerable value-add prospects. With decades of real estate experience and over $100M in real estate transactions, our team understands the time and effort required to create generational wealth through real estate. Transcript: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Alrighty. Hope everybody is doing well. My name's Jess for galley. And this week I thought we would do something a little bit different. I was a guest on a show called CPI capital a little bit about my background in real estate from student rentals to assignments, condos multi-family and brokerage.    If you find that at all. Interesting, I think you're going to like this episode, I think we touched on a number of things and they had some great questions. Some of them admittedly completely caught me off guard, but anyways, I hope you enjoyed this episode and we'll see, on the other side,    Ava (59s): Everyone, welcome to the Canadian passive investing show. I'm your host, Ava bene Saki, and I'm joined by my cohost August. Muniez we have another great show for you today, please, please like, and subscribe as it helps us build our channel and allows us to keep bringing you great content and expert guest speakers. Our mission here at CPI is to empower investors, to create financial and time freedom through passive real estate investing. And today we are joined by Jesse for galley.    Got it. Welcome Jesse. Welcome Jesse.    Jesse (1m 34s): Hey everybody. How's it going    Ava (1m 37s): Now? Jesse, Jesse is a commercial real estate broker and investor that started with student rental properties at the age of 19 as his passion for investing grew. He started investing in single family homes and condos. Then he transitioned into multi-family apartments. So today he focuses on operating and raising capital for commercial real estate. So we believe Jesse is going to bring immense value to our audience to make strategic investments in real estate. So Jesse, let's just jump right into things.  If you could start off by telling our viewers a little bit about your background and your involvement with real estate investments, please.  Jesse (2m 13s): Yeah, no problem. And I'll, I'll try to hit that high bar there for you guys. I got started in real estate in college or university bought my first rental property, went to a university in Waterloo. It's about an hour and a half west of Toronto. You know, if there are us listeners, it's kind of Canada's Silicon valley. So a lot of good entrepreneurial spirit out there. And yeah, my first investment property was, was wa wa was Walla, was in school. I saw that I was living with a friend that his father and him went in together on the property that I was actually living with.  So w I saw myself and friends of mine paying rent to another friend and started to realize that it was a great area to invest. And I kind of had a, somewhat of a background in that. My father who's also extremely entrepreneurial and my mom was well, they had a family friend that had a number of single family investment properties. So at a really young age, I'd always ask, you know, what does Mikey do? He doesn't have a job. What is, what exactly does he do? And that kind of got ingrained to me really young, so long story short.  That's how I got into it. This is probably now I was 19, 20 years old. So we're talking about oh 8 0 9. So you don't think of oh 8 0 9 as when you're going through it as a significant time. But looking back, obviously we know now it was a, it was a pretty historic time for the economy and yeah, I mean, going back that far, what I was doing was reading Canadian real estate magazine. If you guys remember that magazine, you know, bigger pockets I think was in its infancy, there wasn't resources, there weren't resources everywhere.  And yeah, that, that was my first, first property was a $250,000 student rental property with five female tenants that I pretended were a lot younger than me, but I really was, was young and trying to try to figure it out.  August(4m 8s): Great. Yeah. I guess timing, timing is always important rate too. You know, they say luck, isn't it. Mathematical equation is when timing meets opportunity. So you jumped on it. That's great. And also, also another item is here in Canada. I mean, a lot of information and content comes over from the, from the U S where you could buy a home in Texas or Arizona or Florida for 300,000 or 250,000. And you can rent it for around $2,000 a month. So you're, you're already cash flowing from the day one, but in, in here in Canada, especially in the larger cities, Vancouver and Toronto, their rent to value ratios are very low.  So that, and the kind of also the entry level to, to get into a single family home is very difficult as well. So talk to us about, you know, early on in your career as a, you know, as you were starting in real estate investing, how did you overcome that particular hurdle to, you know, with the, with the high mark of, you know, the high bar of entry with the low rent to value ratios and also the rigid mortgage laws, our mortgage laws are much more difficult than the U S so  Jesse (5m 8s): Go over there. Yeah, it's funny. I just jumped off my podcast with a, a mortgage commercial and residential mortgage broker. And we were talking about some of the differences with Canada and the U S and, you know, we have the portability of mortgages talk to an American foreign concept for them a 30 year fixed rate. They have that foreign concept to us. So a hundred percent to your point about Toronto Vancouver, I think, you know, I say those things together in every sentence on my podcasts that we're talking about expensive markets at that time, the property, I know what just offhand, because you always remember your first property, the gross rent was approximately 2,400, so $250,000, 2,400 in gross rent.  So, you know, if you go use a 50% rule as your expense ratio, pretty decent property, if you found those types of numbers today, especially our markets you'd jump on them. So it was still relatively affordable in certain markets outside of the, like the, the downtown cores, but yeah, a hundred percent, it was something where you really had to go look for value, adds student rentals still to this day. You know, the valuations are a little bit different. Cap rates are a little bit higher.  You can, you can find those deals, but they're becoming harder and harder to find. So, you know, whether you're in New York, you're in San Francisco, you're in Vancouver, Toronto, you really need to think outside the box. You start, you need to start looking at, you know, the 18 hour cities or the cities towns hour or two hours may be more outside of your general area. But I was lucky at the time. Well, you know, nine, there were still a bunch of deals that were still in our Canadian market. And to your second point about the mortgages, I think at the time I was in the five and a half fixed percent range.  And back then, if you guys remember 5% down was still pretty doable, five, 10% down. Now, when it came to student rentals, there was only a few banks that would lend on those. So that's where you had to start, you know, getting more creative with the financing. But at the time I think it was five or 10% down. I went to my dad and asked, so I had a little bit of cash because I worked summers. I said, listen, this is an awesome investment. Do you want to, do you want to sign on this line of credit so that I can, I could purchase it, gave him the numbers.  He said, absolutely not. You know, my, my parents were divorced. So what is, what does a kid do? He goes to his mom and says, dad's not signing this. So for me, that's, that's kind of how I got my first start. And I always tell this story because I feel like people, you know, when they talk about how they got started, you, you it's always fuzzy. How did the money happen? And I just like to say that everybody you go to the resources you have. I, you know, I didn't, don't come from a very wealthy family, but they gave me every opportunity, you know, family, predominantly immigrants, very entrepreneurial.  But what that allowed me to do was she signed on the guarantee for the, for the line of credit, which added to my down payment, which allowed me to get the space. And then when the second one came around, because I continued to invest in student rentals, then I had, you know, I had a case that the next one, when I partnered on one of them with my father, or I could say, Hey, this is, this is how the business has been doing for the last year and a half or two years. So yeah, that's, that's kind of the background and  August (8m 32s): You build that track record and you were lucky enough to have parents who helped one of your parents. And he was like, finished school, finished school, then we'll dock. There you go. And you were, you were 19 years old. So yeah, I was,  Jesse(8m 48s): Yeah, just turning, just turning 20. Like I, when I put the co the offer in, I was 19, when it finally closed, I was 20.  August (8m 57s): Great, great. And if you could expand on, when you talk about student housing, is that the building or the unit or the home is zone for student housing that you can rent it on for two regular tenants kind of idea.  Jesse (9m 9s): Yeah. So it's a good question because it used to be anything that a student occupies and then what started happening in a lot of cities in the states, and in Canada, you would have either municipalities or cities mandate that you have a student license, you know, we're all big fans of the government. And it was basically, you know, a, a tax that you had to pay to have it licensed. Now, I'm not saying that there isn't good logic for it. There would be, you know, fire code, additional things you would have to do to meet that standard.  But it was also kind of like a, you know, a, a taxi medallion system where, you know, they only would, in, in this particular case, they would only give so many of the moats. So yeah, that, that's how they were kind of categorized in Waterloo. And I know another areas in Ottawa, we have, I still have a couple student rental properties where we're towns are, are kind of talking about implementing that type of thing, but not all towns do. And yeah, so that, that's how it, you know, they'd be categorized as student rentals, some were above board and some people were doing just, you know, without the license.  August (10m 13s): Got it. That makes sense. Just getting back to your point, as far as making strategic investments, and you have to find the kind of diamonds in the rough for it to make sense here in Canada, in Vancouver and Toronto, there are deals, but they're, they're, you know, hard to come by. It's not a scalable business model. It's not somebody, you know, in the U S somebody living in Texas making a hundred thousand dollars a year and they can buy a home for 300,000 and they'd be cash flowing from day one. And, you know, if they do some small renovation and even keep the property, they can, they can, then in a few years, just repeat the same process, buy another property and continue to grow their portfolio.  It's very difficult business model to, to do here. And especially doing a part time, having a, you know, a, a, you know, a job or a profession, and then doing real estate on the, on the, on, on a part-time basis to then find those deals, to be able to be an active investor. So that's an great conversation here.  Ava (11m 6s): So we've, we've we, we learned about what started you in single family. Now, I'm, I'm curious what made you fall in love with multifamily? And when did you kind of start getting into multiple  August (11m 16s): Fell in love with it? Maybe he just likes we're  Jesse (11m 19s): We're we're madly in love. Well,  Jesse (11m 22s): What happened was w so I finished university over that time period. I, I purchased, I believe it was for single family. So these, but these were kind of spread out there. One was in Oshawa. So if you know, Ontario Schwann, Waterloo, they're complete opposite ends of Toronto. And what happened started happening is, and I'm sure you guys were aware of Vancouver was similar where pre-construction condos became a big thing, and this was 20 10, 20 11. I started to purchase those. And what, you know, a lot of people call wholesaling now, or just assigning the contracts.  I did a few times. So w what I did was I kind of kept going down the student rental path. I appreciated a decent amount on a lot of these properties, and then sold them pretty much, not all at the same time, but pretty strategically that I wanted to sell these and have a nest egg to move into the commercial space. It coincided with my job, actually moving from working with the job that I got right out of school to actually a friend of mine kept saying, listen, you'd love this real estate stuff.  You know, what are you doing in your current job? You should be in, in commercial real estate. And I finally got a job in commercial real estate for Avison young as a commercial broker. I happen to work in office leasing and investment sales, but it was kind of through that, where you start really opening your eyes to see what people are doing in different areas. You know, my partner, he also works for the company, but he also is an investor in the multi-family space. Multi-family I think the reason I gravitated towards that is it's just more accessible for the smaller investors that when they get their start, if you're going down retail office, industrial, you know, one, one or two tenants, you could really have large vacancy.  You need a lot of cash for 10 and allowances, tenant inducements. And then the other thing is in Canada. And I believe it's, it's similar in the states, whether it's Fannie Mae, Freddie Mac in the us, or it's CMHC in Canada, there, there are financing products that are more geared to apartments because it's still considered residential, even though it's five units and larger, which lender looks at that as commercial. So yeah. Accessibility for, for lending and yeah, that's, that's how I made the transition.  And we've, yeah, we've kind of focused now, just exclusively on building up the multi-family portfolio,  August(13m 44s): Right? So not only your focus as, as investing changed to multi-family commercial real estate, you, you actually switched your profession to also be involved in the commercial space as a broker. Funny enough, Ava and I were looking at a private equity firm and their principles, and just reading about their bio is, I mean, notice every one of the principals had commercial broker on the bottom of their title, even though some of them, one of them had a PhD, but he still had a commercial broker at the bottom  Jesse (14m 10s): Of their bio. It's funny, it's funny. They there's a lot of people in our industry and NAIOP is a great organization. If you're interested, especially in Canada, in commercial real estate or north America, that's, it covers all areas. But so many of the people that have started their own firms that are CEOs of brokerages or workflow, you know, workplace strategy, it's funny how further back in their career. A lot of times they were brokers or, you know, leasing specialists and really seeing real estate from the ground up.  And I think it's a good foundation as investors, or if you want to have a career in real estate. Yeah,  Ava (14m 48s): Definitely. Great. You got your license. I had my license.  Speaker 3 (14m 52s): Yeah. I couldn't wait to get rid of mine for 10 years.  August(14m 59s): So now I want to talk to you about, let me see, I had a question here for you. Oh yeah. I want to talk to you about, you know, we, we w w w in our research, we are in the space we're in, in Canada and in the real estate of real estate, private equity and, and especially thought leaders in this space who put out content, obviously you came up or you came on on our list. I mean, notice that you are a thought leader in this space. Talk to us about your connection with a bigger pockets and how that came about. Especially one of my biggest complaints with bigger pockets is that most of their content and information is, is a director is for Americans.  And a lot of people do read that information. And now have I have wrong information or information that doesn't make sense. They, they believe that 10 31 exchange exists here in Canada, or that they could, you know, part-time be real estate investors and have 20 single family homes or, or, or other also other compliance verbiage that's that's used in the us, which that doesn't mean the same thing on this at our border, and means something totally different. Something like an offering memorandum is a document provided by a broker to someone looking to purchase a commercial real estate, or an offering memorandum here in Canada is a, is a legal document as security emerges exemption that's used.  And it's a legal document. So talk to us about your connection with bigger pockets and how they came about, and what do you currently do with that group?  Jesse (16m 24s): Yeah, for sure. I think it started from, well, I was on the podcast, the BiggerPockets podcast as a guest years ago. I think that was what started the relationship. I, I really, I don't remember exactly how that relationship started, but it did then. And what it ended up happening is we, we continued communication. Obviously I used a bigger pockets as a resource. And just as a side note for Canadians that are on bigger pockets, even if you have a free account, you can go and put a keyword alerts.  And almost always, I have one keyword alert that is Canada Canadian, us Canada. So like you do get chats that are started specifically about CA Canadian investments. You're going to be pulled into those, into those strings, which, or forums, which is great the way I started doing videos for them. I think Brandon and I, we were talking, or I, I had reached out to him a little while after the podcast. And I had said, you don't, you guys don't seem to have a lot of commercial content, whether that's, you know, industrial retail office, larger apartment buildings, it seems to be focused primarily on single family and, and apartments.    And I said, what if would you guys be open to me doing videos? And he's like, I guess at the time, they're like, yeah, absolutely. It's, we're, we're missing that piece. So yeah, for a couple of years, I was doing videos on a commercial commercial real estate. That's commercial loans, private equity. You're absolutely right though. When you say that, you know, there's that us Canadian gap and a hundred percent it's, you know, you have American her Canadians thinking that they should buy us real estate and put it in an LLC. Okay.  Canada, that doesn't recognize an LLC. You know, you have a certain things, like you're saying what the offering memorandum, you keep hearing, they're raising money for 5 0 6 C offerings that doesn't exist here. So there's all these little intricacies that we need to focus on that when we, when we hear about this type of investment in the states, really need to figure out what that equivalent is up here. And that's what I think we were trying to do to a certain extent there. But like I said, ultimately, as a Canadian, there's definitely Canadians on the, on the forums there, you just kind of have to have to search for it.  But yeah, it's a, it's a really good point.  August (18m 40s): Great, awesome. Talk to us a bit also about your, your own platform. So aside from working with bigger pockets, I believe you have your own YouTube show and podcasts. Talk to us about that in the process and how you came about, you know, starting your show and how it was, how is it going? Yeah,  Jesse(18m 58s): No, it's going great. It's, it's a lot more work as you guys know, then, then, you know, you really realize when you go in, I was just a friend of mine just sent me a stat or a couple stats about podcasts. And it was, I can't remember exactly, but, you know, you know, something like 3% of people go pass episode three, you know, 50%, you know, whatever it is, it's just the consistency. I'm definitely more active on working capital. That's my podcasts. It's working capital, the real estate podcasts. You can get that anywhere, iTunes, Spotify, and the YouTube channel.    I just started putting out like a lot of people, the questions you get asked again, and again, and again, a lot of times it's just easier to make a video, send it out and say, you know, this, this answers it. I think that being on the bigger pockets, realizing that, you know, like when you go on their channel, it's like all of a sudden you have, you know, 70,000 views on something and you can't manage comments like that. So I think for me, it was just like, I didn't realize there was that many people out there that wanted this content. So I try to put stuff up on YouTube as, as much as I can, but really the focus for, for myself is more on the podcast side.    And then through there, you know, people can reach out to me, you know, hear me on the show. And if it's about investing in the future, investing in other investments that we're doing that we're raising capital for. That's where I would say the platform is, but it hasn't been formalized in, in a way where, you know, it's, it's my day job and that's, what's challenging about it. Right. You're, I'm still in brokerage and I don't think I'll ever leave brokerage completely, but yeah, that's, that's kind of where I'm at right now.    August (20m 35s): Yeah. Being a broker is like, you know, the bat, the bat sign put up in the sky when they call it comes in. You've got to go. So yeah, it's definitely a full-time    Speaker 3 (20m 44s): Gig. Yeah. Great.    August (20m 46s): Just to touch on podcast a bit more, what is the podcast mission statement? So what, what problem are you solving? What message are you getting across and what is the kind of the, the final call to action or, you know, the, the, the benefits it has not only for obviously your, your listeners, but also for yourself.    Jesse (21m 4s): Yeah. What I wanted to do is have an educational, real estate investing podcast that where we have guests on, we have them from a range of backgrounds all centered around real estate. So, you know, whether that's a cross border lawyer, whether that's a mortgage broker, whether that's talking to people that are investing in self storage, I wanted to get kind of a round picture of what real estate is and the different niches, or as my podcast guests say, if they're American niches, that drives me crazy, but the different niches in our industry. And through that, I'm what I hope to do too, is when I have people on the show and you touched on it earlier as a Canadian, even though half of the listeners are American, I try every time I can, where somebody is like, well, an FHA loan, and then, okay, well, let's just clarify from the Canadian point of view, it's this.    Or, you know, if they say something like a 30 year fixed mortgage at 3%, and I say, well, in Canada, you can do a CMHC mortgage at 1.6. They're like, that's crazy you at 1.6, because a lot of times you hear, they don't believe that our cap rates are 2.9, 3% in some areas like you're in Vancouver and guarantee some of those office buildings are sub three and they're like, well, our loans are three. It's like, no, no, no, no. Your loans are three. Are our loans are not even though it's still crazy low. So there's only all these little like variation.    So just a long, long winded way to say. What I try to do with the podcast is try to be a north American podcast where I can have Canadians and, and Americans listen to the show and, and feel that they're both getting talked to.    August(22m 36s): Great. Great. So now let's switch the conversation here. Emma has a few questions for you, but let's switch the conversation back to being a real estate investor. As we all know, eventually your real estate investors run out of their own money because they've already deployed it. Or they're looking for bigger projects and a time comes to raise private equity. Where are you at in your, in, in your business currently, are you at that stage that you're, you're raising capital and, and talk to us how that all came about and we can go from there.    Jesse (23m 6s): Yeah. So this year, or I guess the end of last year starting of this year is when I first started to raise capital for real estate. It's, it's kind of a scary thing, which I think is a good thing. If, if you are a fiduciary to somebody else and you're managing somebody else's money, I think you should party. You should be a little scared. I think that's natural that you should have a fear of making sure that you're, you're doing the right thing for your investors. So that coincided with a lot of the podcasts I listened to.    And again, the guests that I've had on my show where, you know, you get connected to masterminds where they are teaching, raising capital or fund to fund model, stuff like that. And again, it kind of goes back to your point of the offering memorandum where like, you know, we sometimes call it an information memorandum. That's more of a brokerage thing than I think a us thing. But yeah, the offering memorandum in Canada, you're, you're talking about legal documents. And the reason I bring that up is the mastermind that I was in was a us centric mastermind for raising capital.    So even there it's like, unless you're investing in the U S it's really challenging to justify what you're spending on that, a mastermind, depending on the cost. But anyways, that got me into the mindset of it, like buying your first property, once you do it once you're like, oh, that I can, I can do that. And that's really what it, what it was for us. Once we started raising capital. So this was the first investment raised a million and a half of equity.    So it's not a huge amount, but it was the first time we ever raised capital it, me and my partner. And, you know, the thing is, there's just, you go through these different cycles while you're raising up. Are we going to have enough? Okay, we're good. No, I don't think we're good. And then it got to the point where we're like, you know what, after it's all said and done, you have subscription agreement signed. You're like, I think if, if I was forced to, I think I could do three, I think it could do five. And I think that's the natural progression when you get used to something and you see that it's, it's achievable.    That's    Ava (25m 10s): Fantastic. And Jesse, I'm curious, what structure do you use to raise private capital?    Jesse (25m 15s): So we do a pretty standard limited partnership agreement. So general partner, limited partner with the caveat of having a asset management company, as part of basically the administration that kind of handles everything. So for those that don't know the, you know, the limited partners are all your investors. They have limited liability. This is not legal advice, but they have limited liability in these investments. The general partner in Canada partnership can not own a real asset that they can't own a property.    So you need to have sometimes a numbered company or a GP. The general partner as a corporation oftentimes owns the property has title, but the limited partner has a beneficial ownership of the property. And then from there, Ava, we do a very simple split where, you know, you have a certain threshold of preferred return that goes to your limited partners. So return of capital first, a preference turn of a certain percentage. Then after that a profit split between the general partners and the, and the limited partners, okay.    August (26m 22s): Maybe you can kind of talk to us more about the deal that you had. So for example, here at CPI, our business model is the multifamily value add and because of their, their higher rental value value ratios that exist in the us on a 70, 30 LTV, you know, we're, we're able to, from the rents we collect, we're able to pay our mortgage payment, pay taxes and fees, third-party property manager, and still have a surplus to pay our investors. Those preferred returns you talk of from day one, because the deals we look at are usually 90% occupied.    So they're, they're well above the mark. So now, how do you go about your deals? Are, are, are your deals ground up development? Is it a value add project? Is it kind of A-class talk to us or what kind of deals you guys work on and how are you able to, is there a return given to investors from day one or is there a kind of a capital event where the project has to go through a certain steps before there is any kind of cashflow coming back to the investor?    Jesse (27m 21s): Yeah. So for us, I'm constantly looking for off market deals, you know, as a broker, you know, first thing we think is we're not bidding on deals. So for me, I was actually land registry looking for properties off market calling, Hey, Jesse, for galley. Listen, I want to put an offer in, on your property when you consider one. So what D constantly outreaching for off market deals happen to find an off market deal? A gentleman owned the property for a number of years. I think it was kind of retirement time for them there. They were, you know, ready to sell.    So for me, this just happened to be a class deal. I wasn't searching for an A-class deal, but it was in probably one of the most expensive areas in Canada, in forest hill and Toronto. It just so happened that when we took a look at these rents, we were, we just saw that it was probably at 60% of what market is. So initially when we went into it, we, what we were going to do. And a lot of our clients do this, where they do what they call condo finishes two older apartments.    So you're putting a dishwasher in the apartment in suite laundry and what our initial thoughts were, were to go in, do $75,000 per unit, really higher end upgrades to achieve higher end rents. Now COVID happens. And all of a sudden, Y you know, you have to be careful about trying to just do a class when the market, you know, might not be able to sustain it. So, for us, what we did was we kind of pivoted and decided to do, you know, instead of a $75,000 upgrade, maybe a 40, 45 more conservative rents, and then kind of, you know, turn over three, four suites within a shorter time period.    So the structure of the deal ultimately was it wasn't, it wasn't a vanilla deal. It was a bridge loan for two years, stabilize the asset, do the renovations, renovate the L renovate a lease at these higher rates, then switch to a conventional, or, you know, CMHC loan switch to the L to that loan once you've achieved that rent. So that, that basically the mortgage takeout takes out your bridge loan. And now you have a stabilized income.    And to answer your last question, in terms of the capital event, this, this deal would be like a development deal. And if anybody has seen, you know, limited partnership agreements, when it comes to the development deals, you get your preferred return. And just as an aside, the preferred is not a guaranteed return. It's a preferred return. And absolutely you try to achieve that, but in a development deal, you know, there's no income. So what happens is that say 7% preferred return a cruise. So your one seven year, two 14, you know, some people compound it.    We don't, it's just simple accrual. And then when there is a capital event, say the refinance, then we decide then do we pay investors all back their initial cash, keep them in the deal, or do we sell a property? Has it gained enough that, you know, it looks appealing to sell and pivot or, or buy another asset so that, yeah, we, we, looking back, I would have had a lot, a lot less stress if we picked a more vanilla investment, but that's, that's what we, what we got our hands on.    August (30m 33s): Great. Oh, how many units was this project?    Jesse(30m 35s): So this one was, this one was seven units, but for anybody that's not in a major market, we're talking about 500,000 plus a unit th the, some that have sold on the street or 700,000 a unit. So this is not, you know, you're not in Boise, Idaho, the first investment, sorry, apartment building we bought was actually west of Toronto and Hamilton 11 unit. And it was a third of the price. So it's just a matter of, you can find expense, more expensive assets, but there definitely has to be a value play there because they're just too expensive to buy.    If they're, if they're already stabilized and at full rent.    Ava (31m 17s): Awesome. And the whole time, Jesse, what's the whole time that you guys were predicting    Jesse(31m 21s): For the, for this one that we're purchasing. So this one, what we have is that to your kind of timeframe, to do the renovations. And then for us, really, we talked to investors, the fund, the sort of the partnership is open for you no longer than that. But I personally, if, if things are where we think they will be in two years in terms of where we want to get the rents, I would love to refinance it, get everybody their capital back and stay in the deal together. And then down the road, because of where it's positioned with a lot of over a billion dollar of Provigil funds in transit.    I think we could add another story to it longer, you know, in the long run. So yeah, we have a few options, but I, the reason I bring that up is I hate seeing these investments where somebody says, like paying out their LPs and then buying them out. It's like, you're the reason they got this asset. You can pay them out and then they're not in the deal. Yeah.    Ava (32m 17s): Options are key. That's fantastic. Now maybe we can discuss your nurturing process for your investors as it's obviously a very important component of, of syndicated investments. So maybe you can please tell us how you nurture your investors and get that know like, and trust and keep that know like, and trust going.    Jesse (32m 36s): Yeah, for sure. I, I can't remember. It was actually a guy in the west end. I think Saskatoon, I had on my podcast and he said, this is very simple. He was, he's like, listen, go on your phone. If you scroll all the way down, if you have an iPhone and you're a contact scroll all the way down to the bottom, you'll see how many contacts you have. It's actually crazy when you're like, how did I accumulate, you know, whatever thousand 700, whatever contacts you can upload those to your computer as a spreadsheet. And you could run through those and really look at who's somebody that haven't had contact with that I could reach out to not to sell them anything.    But as a touch point saying, listen, you know, how are you doing? It's been a while, just a general email. So he had like a three-step, you know, general email, a discussion and just not being salesy. And eventually basically telling people, listen, like, you know what I do in real estate, these are the type of investments that I buy. If this is something that you'd be interested at all, when we have one of these under contract or we're purchasing one, let me know if you'd want, want me to share it? And if you don't just let me know as well.    And nine times out of 10 people don't say, no, they don't say like, no, no, don't tell me. And you know, you be somewhat strategic about the people that you're, you're reaching out to. And then I think what people really need to do, you're in so many more networks than you think you are for me. I did my masters at university of Toronto and just reaching out, literally getting the class list for my year and go and reaching out to all of them. Because, you know, if they, if they did that in school, they're probably, you know, doing something that, you know, might be a little bit different.    They they've made a career change maybe later in life. So you have access where I had access to a lot of people that were like, yeah, a hundred percent sign me up. And some of the people that are in the subscription that, that are LPs were from that. So, you know, I've had people on my podcast that were in law enforcement and they left the force and then they, you know, they had their first indication with 20 cops. So I think you got to look at the networks that you're in and, and don't be afraid to tell people what, they're, what you're doing. Like you, you, you two are doing here, you know, people know when they talked to you August and Ava, like yeah, they're, they're in real estate.    So I think being seen as is important, and I know it's not easy for everybody. We're not all extroverts, but it really is an important part. If you want to attract capital and, you know, that's the path you want to take.    August (34m 58s): Great. Awesome. And I'm sure your shows and your connection to a bigger pot pockets is also a great cultivation process for, for bringing awareness to you and, and investors to, to your services, but maybe briefly touch on your nurturing process when the investors do connect with you, if it's from your own list or from, from your marketing campaigns or from your thought leadership platform, as they come into your database, how do you keep in touch with them? Do you know if it's through newsletters or other content that you send to them? So eventually when you do have a deal, because as, as us being in the syndication business, we're not a fund, we're not continuously buying assets and continuously raising capital, we look for a great deals and then we present it to our investors, to, to us very briefly about your nurturing process when for your leads or your contacts.    Yeah,    Jesse (35m 43s): Absolutely. I think for me, part of it is, you know, when you go to working capital podcasts.com and people will subscribe to the podcast, that'll be part of, you know, me reaching out to people and connecting and nurturing through there when it comes to people that I've, I've reached out to that say, didn't sign up for the last syndication, just touch points with them, whether, you know, constant contact or MailChimp keeping kind of abreast of keeping them abreast of what you're doing. And really, I haven't, I haven't formalized it in like to a T for me, it's just been, you know, the list of people that I have that are in my database, on, you know, through my website where we capture all the emails through the, the list that I have when I reach out to people.    And yeah, it's, it's really, it's really like that right now. If we move to something more formalized as we, as we continue, you know, maybe that, that will be the path. Ideally, I'd like to get to a point where we're going to have committed capital rather than syndication where you're chasing the deal, chasing the clock, whereas where you can call capital and you have the fun there. Yes,    Ava (36m 47s): It's cool. Cause you probably have a long list of people who are watching you on the sideline watching you kind of do your first deal and then your next one. And eventually a lot of syndicators say five years down the road, they've been watching us and boom, they just gave me $2 million. Well, I had a buddy    Jesse (37m 0s): Of mine and like really good buddy that I did, that it was in my MBA and he's like, he opted out of the deal and he was just, you know, you know, you get a guy constantly asking you questions like, and then he's like, ah, so, so did that happen? I'm like, yeah, it happened. And he's like, oh, okay. I'll like, I'll, I'll go on the next one. I'm like I told you, man. So yeah. I mean, you just keep in touch and you know yeah, yeah. And it seems    August (37m 20s): Your process is much more up close and personal and hands-on, that's always the best way to go about when companies get bigger. You never even get the CEO on a call with your cases is very kind of up close and personal and that's great. That's great. Awesome. All right.    Ava (37m 33s): Now, Jesse, let's time to have some fun. We're going to start the next segment of our show. So we like to call this the 10 championship rounds to financial freedom. So please just tell us the first thing that comes to your mind and I'm going to get started.    Speaker 3 (37m 51s): All right. I am. I'm set. All    Ava (37m 53s): Right. So who was the most influential person in your life?    August (37m 59s): Cool.    Jesse (38m 1s): Oh, I'm going to get one of the mad probably my father.    August (38m 4s): He didn't give you that money, man. He's, you're attracted to the hard to get.    Ava (38m 11s): What is the number one book you recommend?    Jesse (38m 14s): Oh man. So many, but all I just say, start with no gym camp. Okay.    Ava (38m 20s): If you had the opportunity to travel back in time, what advice would you give your younger self start    Jesse (38m 29s): Early start, start right away. You    August (38m 31s): Started in 19.    Jesse (38m 33s): I think just in general with other things like anything in life that you go, I'll do this. Oftentimes you don't do so. Just, just jump in. If, if you know you, you will, you will regret not doing it. You know, that'll    August (38m 45s): Be the heavier regret when totally    Ava (38m 49s): All right. What, what's the best investment you've ever made    Jesse (38m 55s): In my education.    Ava (38m 57s): What's the worst investment you've ever made. Let me think your    Jesse (39m 5s): Worst investment I've ever made. One, one student rental property. It's tough to call them the worst because you learn from those. But very, a lot of, a lot of mistakes made on that, that, you know, took, took a while to, to, you know, fix and yeah.    Ava (39m 21s): All right. How much would you need in the bank to retire today? What's your number?    Jesse (39m 28s): Nothing. I, I love being active and working and I don't, I don't find what I do, you know, a job job. So    Ava (39m 38s): If you could have dinner with someone dead or alive, who would it be?    Jesse (39m 43s): Well, dad's more fun and morbid. Probably Milton Friedman. I've the economist. I've, I've always found his, his writing's really good capitalism, freed and freedom free to choose. Yeah.    Ava (39m 56s): Awesome. If you weren't doing what you're doing today, what would you be doing now?    Jesse (40m 1s): That's a good question. Probably law. Okay.    Ava (40m 6s): Book smarts or street smarts.    Jesse (40m 12s): After all my education, I always still say street smarts.    Ava (40m 17s): Okay. If you had a million dollars cash and you had to make one investment today, what would it be? I would put it    Jesse (40m 27s): In a fund as the GPS Capitol to show our skin in the game and you know, whatever we can multiply off that with, with investors. Awesome.    Ava (40m 38s): That's a great answer. Awesome. That's great. Those    Jesse (40m 41s): Are so yeah, you don't get asked those every day. Yeah. There    Ava (40m 44s): You go. Kind of puts you on the spot and it's fun footings, you know, first thing that comes to mind occasional    August (40m 50s): As well, right? It helps others kind of think about these questions and kind of helps them with the process. Hey Jay, Jesse, we really appreciate your time. Thank you for thinking. We know you're super busy. We really appreciate taking the time coming and speaking to us, definitely add a lot of value to our viewers and eventually our listeners listeners when we change this show to a podcast and,    Ava (41m 9s): And yeah, Jesse, if you just want to take a quick moment to tell everybody what, the best way that they can reach you, please.    Jesse (41m 15s): Yeah, for sure. I mean, aside from a Google search, Jesse, for galley working, working capital podcast.com, you can go there if you want to subscribe to, to get the show or Spotify, iTunes and yeah. Reach out to me there I'm as a broker, I'm not hard to find. So that's yeah.    Ava (41m 35s): Johnson, Jesse. Thanks a lot for coming today. Thanks so much.    Jesse (41m 47s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse, for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care. 

In dieser Folge gibt es 50 Affirmationen für einen perfekten Start in den Tag. Sie helfen dabei, mit einem positiven Gefühl in den Tag zu starten und dich neu auszurichten. Wende sie gerne in deiner Morgenroutine, während du dich fertig machst oder auf dem Weg zur Arbeit an. Je häufiger du mit ihnen arbeitest, desto natürlicher werden diese Gedanken für dich. Vertraue darauf, dass dein Unterbewusstsein jedes einzelne Worte aufnimmt und so beginnt FÜR dich zu arbeiten. Wiederhole dafür einfach meine Worte laut oder in Gedanken und fühle dich dabei, in sie hinein. Ich wünsche dir unendlich viel Freude bei dieser Folge❤️ Hier kannst du dich für Soulfood bewerben: https://jackie-freitag.de/soulfood/  _____ Soulfood-Newsletter:https://jackie-freitag.de/soulfood/newsletter/ Selbstfürsorge-Newsletter: https://jackie-freitag.de/newsletter/ Instagram: @Jackie_Freitag (Hauptprofil) Instagram: @Jackie_Freitag.de (Coachingprofil)

Är du en sådan som sitter FÖR länge med redigering och urval? Här, min vän kommer mina bästa tips på hur man blir så mycket snabbare på detta. Det var ett av mina nyårslöften och jag har redan kommit LÅNGT med det, och delar med mig av hur jag gör och vad du kan göra för att få mer tid över till att fota - och vara ledig! Ni hittar mig och mina bilder på www.youtube.com/fotografmariaekblad www.instagram.com/fotografmariaekblad/ Om du vill få ännu mer businesstips och fototips från mig så gå med i min maillista för fotografer och fotointresserade! www.mariaekblad.se/ga-med-i-min-maillista/ och kan gå med i Fotopoddens facebookgrupp här! www.facebook.com/groups/fotopodden

Die FDP-Spitze argumentierte FÜR das Co2-Gesetz. Die FDP-Wählerinnen und Wähler sind diesem Kurs aber nur teilweise gefolgt. Was bedeutet diese Niederlage für die FDP und ihren Kurs?

Mach JETZT den kostenlosen Greator Persönlichkeitstest, um deine persönlichen Stärken zu erkennen & von anderen endlich verstanden zu werden: https://greator.link/PD-PersonalityTest

Gendern (1/2). Die einen feiern es, die anderen hassen es – gendergerechte Sprache. Doch was sagt die psychologische Wissenschaft dazu? Tatsächlich beeinflusst Sprache nachweislich unsere mentalen Repräsentation, also unsere Bilder im Kopf. Sprache verändert unser Denken und damit unser Handeln. Aber ist das der einzige Weg zu mehr Gleichberechtigung und Chancengleichheit? Um den Diskussionen und der Weite des Themas halbwegs gerecht zu werden, haben wir das Thema Gendern in zwei Folgen unterteilt: In dieser Folge werden wir vor allem die Argumente und Belege sammeln, die FÜR das Gendern sprechen. In der nächsten Folge schauen wir uns dann die Gegenargumente an. Viel Spaß ;) _Infos und Quelen für Streber: *Studie Job-Ausschreibung: Horvath, L. K., & Sczesny, S. (2016). Reducing women’s lack of fit with leadership positions? Effects of the wording of job advertisements. European Journal of Work and Organizational Psychology, 25(2), 316-328. *Studie 1 Berufsbeschreibung und Kinder: Vervecken, D., & Hannover, B. (2015). Yes I can! Effects of gender fair job descriptions on children’s perceptions of job status, job difficulty, and vocational self-efficacy. Social Psychology, 46, 76-92. *Studie 2 Berufe und Kinder: Vervecken, D., Hannover, B., & Wolter, I. (2013). Changing (S) expectations: How gender fair job descriptions impact children's perceptions and interest regarding traditionally male occupations. Journal of Vocational Behavior, 82(3), 208-220 _für alle die sich gefragt haben, welches Video Felix meinte: https://www.youtube.com/watch?v=YZY3m5GfSxg à das ist natürlich ein Video/ ein Experiment, dass etwas verdeutlichen soll und KEINE wissenschaftliche Studie

Sæsonen lakker mod enden og søndag spiller Manchester United sin sidste Premier League-kamp i 20/21-sæsonen mod Wolves. Formkurven har været nedadgående, men i tirsdags var der endelig liv tilbage på lægterne. 10.000 United-fans fik lov at glæde sig over Cavanis drømmemål, der gjorde ham til øjeblikkelig fanfavorit på Old Trafford. Dagens podcast-panel gennemgår opgøret mod Scott Parkers nedrykkede tropper. Hvorfor det kun blev til 1-1 og hvor United egentlig står forud for Europa League-finalen. Der er også dedikeret en blok til Projekt-Solskjær, der i denne sæson har taget endnu en rutsjebanetur fra OleOut til OleIn blandt United-fans rundt i verdenen. Hvad har den norske manager gjort godt, hvad har han gjort skidt og hvad bliver så næste skridt. Er Kane svaret, er økonomiske midler problemet. Det forsøger vi at give et bud på. Sidst i programmet får du optakten til søndagskampen mod Wolves, der er altså er optaget FØR cheftræner Nuno Espírito Santo blev fyret. Alt det og som altid meget mere! Gæster: Anders Larsen & Kristian Koed Hansen Vært: Mark Tolstrup Christensen

[Entering sector] [Language package updated] ¢} ¦¦¬§¶°3÷£A"&O0@ Flertalet parter förespråkar vapenvila. Detekterar spänd stämning överlag. Artighetsfraser inledda. {~99%¥;FÇ Rörelsemönster ej detekterat i mänsklig databas. Rörelsemönster ej detekterat i xenologisk databas. Avvikande gruppmedlem ej lokaliserad. Atmosfäriska tachyonpartiklar upptäckta, når kritisk massa inom snar framtid. ^^^('_')b3*| Åtgärder bör tas omgående för att undvika temporal distress. Subjekt 'C-H'/huvudoperatören ackompanjerar xenologiska livsformer för att finna en lösning. Saknad individ ej längre saknad, och tydligen ej längre omtyckt. Hotfull situation, nivå [3]. Tumult. Osäker utgång. Potentiell scenarioorsak funnen. Aktiverar situationslösningsprotokoll för samtliga. Audiell utgång av resolution tillgänglig. [Deactivating external systems] [Shutting down]

WE ARE FANDOM AT RANDOM!! ONE, TWO, THREE, FOUR!! Now that we have your attention Randos...it's time to ROCK! Listen in as Ed, Brian, and TBPLAYER himself Eric Fallon discuss their top 10 fictional movie bands! Even though these bands aren't real, we think our top 10 list has what it takes to be Almost Famous in today's music scene...especially with so many one hit Oneders! So Randos, turn that dial up to 11, and enjoy the sweet & sultry sound of F@R... --- Support this podcast: https://anchor.fm/fandom-at-random/support

Die Otternasen

Eine Trennung kann jeden treffen, und dennoch habe ich mich kurz schlecht gefühlt und mich fast geschämt. Aber vor allem hat es weh getan... Ich habe nicht verstanden, warum meine Beziehung ausgegangen ist - und verstehe es immer noch nicht, wenn ich ehrlich sein darf. Und nun, mit 31 musste ich mich sammeln. Ich möchte auch ehrlich sein: Liebeskummer ist für mich sehr schmerzhaft. Ich habe gemerkt, in welchem Bereich es mich am meisten trifft, ich durfte lernen, was für Glaubenssätze diese Trennung hervorgerufen hat aber vor allem habe ich einen Weg eingeschlagen, damit doch ruhig und respektvoll umzugehen. Darum geht es in dieser Folge. www.happyplacepodcast.com Die Folge, die ich erwähnt habe: #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? #92 Wenn Intuition nervt mit Holger Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik, die du hörst ist Exlibris von Kosta T

Fanning inflation across the globe stoked fears in the investor community on Wednesday, keeping indices in the red for the second straight day. MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.9 per cent while Japan's Nikkei shedded 1.9 per cent and Taiwan's index lost over 4 per cent. On Wall Street, E-mini futures for the S&P 500 stumbled 0.2 per cent while futures for the tech-heavy Nasdaq were down 0.5 per cent. Data from China on Tuesday showed that consumer price inflation hit a seven-month high in April, and factory gate prices rose at the fastest rate in three and a half years. Meanwhile, in Germany, wholesale price inflation hit a decade high. Now, ahead of retail inflation data from the US and India, slated to be released later in the day, domestic benchmark indices fell about a per cent. Coupled with positions' unwinding due to weekly F&O expiry, the BSE barometer of 30-shares dropped 471 points to close at 48,691 levels. In the intra-day trade, the index hit a low of 48,551 levels. On the NSE, the Nifty50 declined 154 points and gave up 14,700-mark to settle at 14,696 levels. Earlier in the day, the index had touched a low of 14,650. Tata Motors, PowerGrid, Titan Company, Maruti Suzuki, UPL, Cipla, State Bank of India, and NTPC were the top gainers on the 50-share index today, up between 1 per cent and 3 per cent. On the flipside, Tata Steel, JSW Steel, IndusInd Bank, Hindalco, HUL, SBI Life, and Grasim nursed losses up to 4 per cent. The broader markets, too, succumbed to profit booking with the BSE MidCap and SmallCap indices falling 0.9 per cent and 0.6 per cent, respectively. Among key sectoral indices, the Nifty metal index tumbled over 3 per cent, followed by the Nifty Private Bank index, down 1.6 per cent. On the upside, the Nifty PSU Bank index zoomed 3.3 per cent on possible short covering. Individually, Punjab and Sind Bank, Central Bank of India, UCO Bank, PNB, Union Bank of India, Bank of India and Bank of Baroda soared in the range of 4 per cent to 10 per cent. According to an Edelweiss Research report, the index has added 20 per cent open interest in the last four trading days, highest in the last 5 months, with stocks like PNB and Canara Bank witnessing highest trading as well as delivery volume this week.   Buzzing stocks   Shares of Godrej Consumer Products soared 25 per cent to Rs 895 in the intra-day trade on Wednesday after the fast moving consumer goods (FMCG) major announced that Sudhir Sitapati will take over as its managing director (MD) and CEO in October 2021. Sitapati—who spent over two decades at Hindustan Unilever—is stepping down from the role of executive director of the company's foods and refreshment (F&R) business. Shares of Venky’s (India), meanwhile, hit a 52-week high of Rs 2,143 after rallying 20 per cent on the BSE in the intra-day trade on Wednesday after the company reported a standalone net profit of Rs 77.90 crore for the quarter ended March 2021. It had posted a net loss of Rs 96.73 crore in the year-ago quarter. On a sequential basis, however, the net profit was down 27 per cent from Rs 106.50 crore as the company witnessed some negative impact due to outbreak of bird flu. That apart, Siemens shares surged 10 per cent, hitting a new high of Rs 2,143.20, on the BSE in intra-day trade after the company reported a strong set of numbers for the quarter ended March 2021 with healthy order book position. The stock surpassed its previous high of Rs 2,055, hit on February 24, 2021. On the earnings front, Asian Paints today reported an 81 per cent YoY jump in net profit at Rs 870 crore for the March quarter as against Rs 480 crore reported in the previous year. It's revenue increased 43.5 per cent YoY to Rs 6,651.4 crore and margins recorded expansion of 130 basis points. Voltas, meanwhile, clocked a 50 per cent YoY growth in net profit at Rs 239 crore in Q4FY21 along with a 27 per cent YoY improve

Podcast Nr. 518: „Ich feier das so sehr…“   …. das ich genau so bin, wie ich bin.    ….das ich mich nicht verurteile, dass ich aktuell grad nicht so die Dinge tun kann, wie ich es gern möchte.   …das ich eben liebe, was ist.   Ja, meine Stimme ist immer noch weg. Ist doof und schränkt mich ein, AAABER: Es ist, wie es ist.    Ich habe in den letzten Tagen so viel wie schon lang nicht mehr über mich gelernt. Dafür bin ich sehr dankbar und feier das so sehr.   Insbesondere, dass ich eben genau so bin, wie ich bin und da mich genau DAS so sehr auszeichnet.   DICH zeichnet etwas anderes aus und das ist so WUNDERVOLL!! Weisst Du was es ist? Erkennst DU es für Dich an oder Verurteilst Du Dich noch?   Ich zeige Frauen um die 40, die sich immer noch „anders“ fühlen und oder  das Gefühl haben nicht richtig zu sein, wie sie genau diese  Kraft und „Andersartigkeit“ FÜR sich und ihren Erfolg einsetzen.   Wie Du genau diese Andersartigkeit als Deine Stärke für Dich einsetzt und Dir somit täglich Deine Krone mit einem so selbstbewussten Gefühl aufsetzt und Dich und Dein Leben mit absoluter Hingabe feierst, das zeige ich Dir in meinem Coaching.   Vielleicht denkst Du Dir jetzt, Ja, Bettina die kann es ja, sie hat ja schon ihr eigenes Business und ist so stark und so.... Ich sach mal so:    Mein Selbstwert war bis zum 44 Lebensjahr eher bei ner -2! Glaubt jetzt keiner mehr. Erst mit 44 Jahren habe ich erkannt und lebe es nun täglich, wie richtig ich bin und meine „Andersartigkeit“ kraftvoll FÜR mich einsetzte. Beruflich wie privat.   Fühlst Du Dich angesprochen? Dann schreib mir, ich zeige Dir welche wundervolle EInzigartigkeit auch in Dir steckt. ❤︎   HERzliche und sonnige  Grüße Deine Bettina ♥︎     ________________________________________   Willst Du mit mir arbeiten?    **Hier erreichst DU mich persönlich:**  

Hanna wollte Mama werden. Klingt erstmal nicht so ungewöhnlich. Für sie schon, denn lange wurde ihr erzählt, dass sie aufgrund einer jahrelangen Essstörung nie Kinder haben wird. Doch es hat geklappt und Hanna wurde Mama einer kleinen Tochter. Diese Freude hielt nicht lange an, denn zwei Wochen nach der Geburt traten Komplikationen auf, die Hanna fast das Leben gekostet haben. Sollte die Mutterfreude wirklich so schnell vorbei sein? Nein. Sie war entschlossen, dass das nicht das Ende ihres Lebens sein konnte, denn sie wollte ja Mama sein. In dieser Podcastfolge erzählt Hanna ihre Geschichte von Ängsten, dem Tod, dem Leben und dem Vertrauen, dass sie durch all ihre Erfahrungen gelernt hat. Heute liebt sie das Leben und ist einfach jeden Tag unendlich dankbar. Das ist die letzte Folge aus der Interviewreihe über das Leben und den Tod. Mit dem Fazit, dass das Leben ein Wunder ist, jeden Tag, dass wir das anerkennen und feiern dürfen. Und dass alles möglich ist, wenn wir daran glauben, es wollen und uns FÜR das Leben entscheiden

Alle episoder af den seneste superhelte serie fra Marvel Studios med det mundrette navn "The Falcon and The Winter Soldier" er nu tilgængelige på Disney+, så vi tænkte at det var på tide at komme med en anmeldelse af den. Er den værd at se eller skal du hellere bruge tiden på noget andet? Lyt med i ugens afsnit af "Film og Søn" og hør vores anmeldelse af den. Og vi kommer også lige kort omkring lidt Oscar 2021, som løber af stablen natten mellem søndag og mandag (altså nogle timer FØR vi optog dette afsnit) Husk at du kan følge os på Facebook, hvor du også kan skrive beskeder og kommentarer til os: https://www.facebook.com/filmogson Hvis du synes godt om vores podcast kan du hjælpe os på flere måder: * Skriv en lille anmeldelse inde på iTunes eller hvor du lyttede til denne podcast * Fortæl dine venner om vores podcast * Følg os inde på Facebook, og give gerne vores side et "like".

047: Wir kennen sie alle- die Widerstände, die wir in uns empfinden wenn jemand etwas bestimmtes sagt, wir uns in einer gewissen Situation immer und immer wiederfinden. Wie schaffst du es, diesen inneren Widerständen zu begegnen und sie FÜR dich statt gegen dich arbeiten zu lassen? Warum Widerstand absolut nicht zwecklos ist- das und 3 Fragen die dir helfen werden ein friedlicheres und leichteres Leben zu führen gibt es in dieser Folge. +++ Folge mir und meiner Reise durchs Leben auf Instagram und lass mich wissen, wie du deinen Widerständen begegnest! @victoriousvisions2018 https://www.instagram.com/victoriousvisions2018/

Kleine Momente machen das ganze Leben aus. Die Qualität des einzelnen Tages kann also in der Summe die Qualität deines Lebens bestimmen. Wie habe ich meinen Alltag positiver gestaltet? Es ist eine Kombination aus bestimmten Einstellungen und einigen Routinen, welche ich in dieser Folge mit dir teile. Die Folge, die ich erwähnt habe: #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? #74 Lächeln - was das uns bringt Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik die du hörst ist Exlibris von Kosta T

Fredrik och Malcolm snackar dubbla träningsmatchvinster och ställer sig frågan om det går FÖR bra just nu. Håller försvaret? Kommer Emir att sura på bänken? Vilka ska lira på mitten? Dessutom: förlängningar, Manges nya fina bindel och Nooshi Dadgostars utspel om villkorstrappan. Följ oss på Twitter och Instagram: twitter.com/MinTroja www.instagram.com/mintroja/ Kontakt: mintrojapodcast@gmail.com

D'Pandemie hätt gewisen, datt den Nationalstaat weiderhin eng wichteg Roll spillt a wuel och an Zukunft  wäert spillen, seet den Historiker Pascal Ory. Iwwerhaapt wier d'Iddi vun der Natioun hirem Ursprong no eng emanzipatoresch Iddi, déi d'Fräiheet an d'Selbstbestëmmung als Zil hätt. Och wa se - zum Beispill an der Form vum Nationalismus - dacks zu aneren Zwecker géif mëssbraucht ginn.  De franséischen Historiker war rezent op Invitatioun vum Institut Pierre Werner zu Lëtzebuerg. D'Pia Oppel konnt sech bei där Geleeënheet mat him ënnerhalen.

Vi diskuterar den häpnadsväckande låten som inte finns…trots att den finns, funderar med avstamp i några aktuella exempel över låtar som är FÖR lika andra låtar och hur mycket det egentligen är tillåtet att låna. Samt ägnar några minuter åt att storögt beundra Howlin’Pelle. Dessutom har Ricky Holmquist lyssnat på en tringel, ett dansepos och en pre-Mello-hit medan Mikael Mjörnberg vänt öronen mot finsk psykedelia och listat de bästa låtarna av The Crown. Samtalet i ”skivcirkeln” behandlar Brainpools album ”Painkiller” från 1995. Musiken som diskuteras i avsnittet hittar ni här: https://open.spotify.com/playlist/6ArdOkcWRjZzHxHOrg0dNw?si=e2dbc1cb5eb54cab Vinjettfoto: Martin Wilson (https://www.facebook.com/fotografmartinwilson) Vinjettmusik: Systemet (https://www.facebook.com/systemetmusic)

Wow. WAS. FÜR. EINE. ERLEICHTERUNG. Mit dem Sieg gegen Bielefeld hat das Team von Florian Kohfeldt einen riesigen Schritt in Richtung Klassenerhalt gemacht - entsprechend erleichtert haben sich alle Beteiligten nach dem Spiel geäußert. Und anders sieht es auch bei Thomas und Jan nicht aus. Große Erleichterung, vor allem nach den geklauten zwei Punkten von Köln, die beide auch noch einmal kurz ansprechen. Jetzt ist der Druck vor dem nächsten Spiel nicht GANZ so groß... Und das ist gut so: Schließlich geht es zum Vielfraß - dem Rekordmeister aus München. Enjoy!

Det kan verka som om pojken och hans mamma är alldeles vanliga. Men när barnet får bestämma går de på nattliga monsterpromenader. Då lurar vargar och spöken i skogen, och till och med mamma blir elak. Blir allt FÖR läskigt går det ju att springa hem. Så länge man springer snabbt, så att ingen får tag i en... Den här sagan passar för 4-8 år ungefär, men lyssna gärna tillsammans. Medverkande Författare: Jenny Bergman Illustratör bokomslag: Alexander Jansson Berättare: Alexander Salzberger Producent: Matilda Ivarsson Kihlberg Exekutiv producent: Astrid Mohlin, Barnradion

Emmené par le single ''Printemps Éternel'', le premier album solo de Florian Garcia, alias Flo Delavega, vient de paraître. Un disque composé en plein milieu de la forêt des Landes où le chanteur est parti vivre après la fin des ''Fréro Delavega''.

Wie ist denn der Podcast überhaupt entstanden? Wie bin ich auf genau diese Themen gekommen? Was für eine Rolle spielen sie in meinem Leben? Diese Fragen und mehr beantworte ich in dieser Folge. Die Folge, die ich erwähnt habe: #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik die du hörst ist Exlibris von Kosta T

Ich liebe es, gute Emotionen zu verspüren. Ich habe es zwar bereits gelernt, die anderen Gefühle nicht mehr zu verteufeln, aber es ist einfach schön, die unzähligen Glücksmomente im Leben zu erkennen. Und das Beste daran: Wir haben es alle so ziemlich in der eigenen Hand, diese Momente wahrzunehmen. In dieser Folge rede ich darüber, wie man mehr Glück im Alltag verspürt. Die Folgen, die ich außerdem erwähnt habe: #4 Mein Geheimtrick, um Traurigkeit einzugrenzen #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik die du hörst ist Exlibris von Kosta T

Pesahim 72 [A] Pesah for a peace-offering – liable [B] Peace-offering for a Pesah – if unfit animal - liable If fit animal R. Eliezer – liable; R. Yehoshua - exempt [A] intentional uprooting [B] unwitting [C] R. Eliezer's kal vahomer if A is liable then for sure B R. Eliezer both [A] & [B] are intentional [D] R. Yehoshua's response is only acc. to R. Eliezer [E] Q and A from communal offerings that are limited Challenge from babies Communal offerings made first [F] R. Meir – once Shabbat may be violated - exempt If preoccupied – exempt If easily confused - exempt R. Yohanan's view

När blir mycket garn FÖR mycket? Vi tar ett dyk ned i våra garnhögar och helt oförklarliga samlingar av stickprylar. Med anledning av vår systerpodd Mamma stickars förnämliga upprop #slaktastashen funderar vi kring våra garnsamlingar och alla avstannade projekt. Vi gör ett försök att använda Mari Kondos metod att rensa ut och har satt ihop en lista med start i de enklaste pryttlarna och sedan levlar upp till den svåraste nivån; garnlagret. Om du känner att det är läge att starta det nya året med en storstädning i allt som hör stickningen till kan du lyssna på avsnittet medan du sorterar och röjer.

Der Lockdown geht weiter und weiter und weiter... und langsam wird es problematisch, das auszuhalten. Allerdings liegt es zum Großteil an dir, wie DEIN Alltag aussieht, denn du bestimmst, wie du mit der Situation umgehst und keiner andere. In dieser Folge gibt es ein Paar Tipps und Tricks, wie man den Corona Lockdown besser aushalten kann. Die Folgen, die ich außerdem erwähnt habe: #7 Sensibilität und Nachrichten ist eine schwierige Mischung: Wie Nachrichten mich zum Weinen bringen #13 Ich bin dankbar für den Lockdown! Wie gehe ich damit um? Und diese Folge hätte ich erwähnen sollen, nur ich hab's vergessen: #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik die du hörst ist Exlibris von Kosta T

In Zeiten, in denen es im Aussen viele laute, verschiedene, unübersichtliche Stimmen hat, gibt es eine richtig coole verlässliche Konstante in deinem Leben. Sie ist immer für DICH da, berät und leitet dich. Sie ist ganz sanft, leise und kurz angebunden. Und das ist deine Intuition. Viel zu oft haben wir verlernt, auf unsere innere Stimme, Wegleitung und Beratung zu hören. Und dabei ist sie dein bester Freund, Berater und Warner. Sie ist immer FÜR dich, sie kennt deinen bestmöglichen Weg und ist komplett loyal zu dir. Wir müssen den Hintergrund der Stimme, das warum & wieso nicht verstehen, können wir auch gar nicht. Es reicht und ist anspruchvoll genug, diese wertvolle innere Stimme wahrzunehmen, zwischen den vielen anderen Stimmen zu identifizieren und den Mut zu haben, ihr Schritt für Schritt zu folgen. Im heutigen Online Workshop schauen wir uns zusammen an, wie du deine Intuition wieder sauber wahrnehmen kannst. Lass deine Souveränität und Gelassenheit aufblühen! Jetzt. Los geht's! Herzliche Grüsse & dicke Umarmung Deine Nadja

Fast die Hälfte unserer Handlung besteht aus Gewohnheiten und Automatismen. Wahnsinn! Und es gibt jede Menge Gewohnheiten, die für uns schädlich sind. In dieser Folge rede ich über 7 Gewohnheiten, die in meinem Leben eine Rolle spielen oder gespielt haben und wie ich das angehe. Die Folgen, die ich erwähnt habe: #5 Warum das Nichtstun so gut für uns ist #11 Dinge passieren FÜR dich: Bist du ein Opfer oder ein Gewinner? Den Podcast findest du auf Instagram unter happyplacepodcast Die Musik die du hörst ist Exlibris von Kosta T

Endelig fredag og nytt på nytt FØR nytt på nytt! Hva ønsker guttene seg til jul og hva med årets nyord?!

CoronajulVi gør opmærksom på at dette afsnit er optaget FØR de nye retningslinjer blev meldt ud.

Rip Rogers is back with more incredible stories and shoot promos for Episode 6 of his 'FR' Podcast! This week Dr. Ted and Rip talk fundamentals, Terry Funk, The Orton's, and much more! Get your notebooks ready, it's time to laugh and learn!    http://www.Patreon.com/HaminMediaGroup To See The Video and Hear the entire Episode!    GET RIP'S BOOK NOW ON AMAZON:  https://www.amazon.com/Book-Pro-Wrestling-Lessons-Rogers/dp/1723842206  GET OFFICIAL RIP ROGERS HUSTLER GEAR AT:  https://www.prowrestlingtees.com/riprogers

Tvåhauuundraavsnitt av vår fina podd som vi älskar. Vi svarar på era frågor om livet överlag: 00:00 - Gott intro 06:00 - Flyter en snopp i vattnet?07:50 - Betyder alltid "kolla film# att killar vill ligga? 09:50 - Varför sitter mäns G-punk i analen? 11:30 - Mitt Ex vill ha mig tillbaka. 15:30 - Kan man vara FÖR snäll mot sin partner? 22:30 - Varför har ni blivit mer PK? 29:00 - Hjälp mig hitta livsgnistan?33:00 - Jag är kär i min bästa killkompis, dålig ide? 39:30 - Min chef fiser högt, ska jag säga till?43:00 - Hur hanterar jag min klimatångest?44:00 - Minskad lön eller analklåda i ett helt år?44:30 - Hur går det perfekta mordet till? 47:00 - Vad har hänt i Reality-Sverige? See acast.com/privacy for privacy and opt-out information.

Endelig fredag, nytt på nytt FØR nytt på nytt, låsing av dodører og politiet har hørt på Bjølles sparetips!

Endelig fredag og nytt på nytt FØR nytt på nytt. Mink, eksploderende duftlys og folk på valgvake.. Bare å kose seg inn i helgen.

Kari.. TA DEG SAMMEN, ikke fyllekjør og fredag betyr: Nytt på nytt FØR nytt på nytt!

Bjølle og Olav er på plass og gir deg nytt på nytt FØR nytt på nytt, årets nyord og Bjølle har kjøpt inn øl. Mye øl.

*OBS. Udsendelsen er optaget tirsdag FØR pokalkvartfinalerne* Mediano Håndbold gør status efter 9 runder i Bambusa Kvindeligaen. En tredjedel af grundspillet er nu spillet og tabellen er begyndt at sætte sig. Odense har for alvor rystet premieresnitteren af sig, mens både Esbjerg, Viborg, København og HIH byder sig til, sidstnævnte dog med tre nederlag i tre topkampe i streg. Kasper Andersen, Mark Iversen og Johan Strange er vanen tro bag mikrofonerne. Udsendelsen er præsenteret af Sparekassen Kronjylland.

Endelig fredag! Nytt på nytt FØR nytt på nytt og hva ville guttene forsket på?

Endelig fredag og endelig nytt på nytt FØR nytt på nytt! Bare å kose seg med det beste fra dagens sending.

Für diese Folge habe ich Ines, 56 , zu einem persönlichen Gespräch getroffen, in dem sie über den Suizid ihres Ehemannes vor 3 Jahren berichtet. Trigger-Warnung: Menschen, die sensibel auf Beschreibungen im Bezug auf Art des Suizides, Auffindesituationen und/oder Optik eines durch Suizid Verstorbenen reagieren, SOLLTEN AB 1:21:00 FÜR 10 MINUTEN VORSPULEN. Bis einschließlich Folge 16 hieß dieser Podcast "Das ist ja wohl eine Unverschämtheit". Da der Titel doch etwas sehr lang, umständlich, teils missverständlich und einfach etwas sperrig war, habe ich ihn zu "Selbstwort" geändert. Er impliziert, dass Betroffene von Suizid selbst zu Wort kommen, wie auch das Wort "Selbstwert" und wenn man den Buchstaben "W" aus Selbstwort auf den Kopf stellt (wie auch das Leben eines jeden Betroffenen für immer völlig auf den Kopf gestellt ist), dann bekommt man das Thema des Podcasts. Aus Respekt vor allen Betroffenen, die dieses Wort ablehnen, nenne ich es eben nicht. Ich finde dennoch, dass es die Brutalität, die Härte und den lebensverändernden Schrecken gut widerspiegelt. Natürlich ist der Erkrankte kein Mörder. Aber die Depression ist es. Daher erlaube ich mir, mit diesem Wort zu spielen. Wenn du auch unmittelbar betroffen bist und mir deine Geschichte vor meinem Mikrophon erzählen möchtest, dann freue ich mich von Herzen, wenn du dich unter mail@selbstwort.com meldest. Natürlich gibt es stattdessen auch die Möglichkeit, dass du deine Geschichte aufschreibst und ich sie in einer Folge vorlese. Meldet euch auch gerne mit Kritik und Reaktionen jeglicher Art. Ich freue mich auf eure Nachrichten!

In light of the COVID-19 pandemic, Yaron Brook was asked to discuss Objectivism in relation to the crisis and in relation to how the world responded. In this interview style lecture, he answers: 1) Has the market failed to regulate itself in the time of crisis? How could you tell, if it did or not?2) What is your opinion about the government declaring jobs to be "essential“ and "non- essential“?3) What is the government‘s role during a pandemic?4) Is capitalizing on the crisis ethical?This virtual event was hosted by SFL Germany on May 17, 2020 as part of their Spring for Liberty series['Frühlings der Freiheit']. you can follow and find out more about SFL Germany on Facebook: https://www.facebook.com/esflgermany/ and Twitter: https://twitter.com/esfldeutsch or via their website www.studentsforliberty.de and YouTube channel https://www.youtube.com/channel/UC7gP-ouJKMT_PdhDpfBpoxQ.If you would like to have Yaron as a virtual guest for your group, please contact us at askyaron@yaronbrookshow.com for cost and details.Like what you hear? Become a sponsor member, get exclusive content and support the creation of more videos like this at https://www.yaronbrookshow.com/support/, Subscribestar https://www.subscribestar.com/yaronbrookshow or direct through PayPal: paypal.me/YaronBrookShow.Want more? Tune in to the Yaron Brook Show on YouTube (https://www.youtube.com/ybrook). Continue the discussions anywhere on-line after show time using #YaronBrookShow. Connect with Yaron via Tweet @YaronBrook or follow him on Facebook @ybrook and YouTube (/YaronBrook).Want to learn more about Objectivism? Check out ARI at https://ari.aynrand.org.