57: Becoming a Mortgage Industry Titan with BRX Mortgage and ILMB's Scott Peckford

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back to the Kelowna Real Estate
Podcast.

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I am your mortgage broker host,
Taylor Atkinson.

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And I am your agent host, Matt
Glenn.

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What's going on today, Taylor?
Yeah, you know what, Matt?

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I've got some mortgage broker
information for you.

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So, delinquency rates for
mortgages in Ontario have gone up

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135.2% compared to previous year,
while in BC, they've gone up

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62.2%.

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How do you feel about that, So,

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reading into this a bit, and those
numbers sound pretty high.

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But when you take into account how
low they are, to go up 135%, or

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even 62% is not that much overall.

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Very You know, it was a leading

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question.

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I was trying to kind of catch you

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in a shock and awe, but you're
100% right.

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So the interesting data on that is
it's 0.13% of mortgages in BC.

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Like it's literally under 0.2%.

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It's a non-story.

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And the interesting part, I'll
share this chart.

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Essentially in the last 25 years,
we're at historic lows in these

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delinquencies.

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They rose in 2012 to a high of

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0.5%.

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So we're a fifth of what we were

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in 2010.

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Now they are trending upwards,

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obviously, but like this is not an
issue that people should be

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concerned about.

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It's just more bad media

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attention.

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Obviously there are a bunch of

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renewals that are coming up in the
next two years and people will

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feel that payment shock, but
there's a lot of equity, a lot of

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amortization left to play with.

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Just don't get caught up in those

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bad headlines.

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So good for you, Matt.

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Look at you, man.

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Well, honestly, I have honestly, I

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have to, I know you're trying to
get me there, but like I literally

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was just reading that story so
like yeah good for me yeah yeah

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you're on it man yeah yeah
canadians we're really good at

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paying mortgages like compared to
going out like i think i was also

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reading about this and i can't
remember what the numbers are but

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like we're like in the top i think
three of paying mortgages so that

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also goes hand in hand to although
we didn't love the stress test

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when it came out but yeah you know
the regulation kind of built this

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in that we had essentially people
approved to afford these style of

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mortgages, you know, two, three,
four years ago when we first

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started to get them approved in
these products.

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So people should technically be
able to afford this.

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It's not to say like, we're not
empathetic of the difficult times

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everyone is having, but I just
wouldn't get overly concerned

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that, you know know we're going to
see a bunch of foreclosures on the

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street exactly and like you've
touched on before like there's so

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much equity out there that yeah i
totally agree with that so did you

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hear the news about city colonna
is allowing the fourplex thing the

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four houses on a lock to go
through through the Heritage

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Corridor on Abbott.

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I don't think it applies to

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Heritage Houses on Abbott, but
there's a group hoping to get

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exemption for the Abbott Corridor.

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pretty crazy to me.

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Honestly, they've worked so hard.

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And I know someone that's

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renovating, well, he's like
completely torn down and rebuilt a

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house in that area.

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And the guidelines that he had to

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follow were so strict.

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Honestly, I kind of like it that

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way.

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abbott's such a cool street to

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walk down i don't fully agree with
identification where it has to

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kind of look the age or like kind
of look like character yeah i

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don't know if that's true or not
but it sounds like it'd be

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reasonable to do that guy from the
city i can't remember his name

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right now i'm saying that they're
not expecting this to happen soon

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because a lot sizes on abbott are
not that big, apparently.

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Although I can think of a few lots
that are kind of gigantic there.

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I don't know if it'll make
economic sense, though, really,

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because those are lots.

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Yeah, there's...

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You're going to pay him like $2
million for a teardown house to

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build a four-plex?
It does not make sense.

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Like, you're never going to get
the rental income.

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You're never going to get the
resale.

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Like, those specific properties
are more of a luxury high end,

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somebody that wants to be close to
town, somebody.

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So it doesn't really make sense to
densify It doesn't right now, but

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what happens in our next boom,
like a 2021 style where you just

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go in, you pay over market, the
market just catches up to you.

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Right.

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So like it doesn't right now, but

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I think in the future, it will.

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And also like the Abbott corridor

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has been there longer than Kelowna
has been a city.

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So like, if you think about that
into the future, what does that

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mean?
You know, like, yeah, I think

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that's a big deal.

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Well, yeah.

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Speaking about next booms, we kind
of spoke about this a little bit.

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So we brought on Scott Peckford
today.

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He's broker owner of BRX
mortgages, Kelowna based guy.

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He's been in owner of BRX
Mortgages, Kelowna-based guy.

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He's been in the mortgage industry
for a long time, has a huge

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following and has done a lot for
the mortgage industry and myself

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included.

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Yeah.

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So really great guy to have on the
show.

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And fortunately, he's got over a
million downloads on his own

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podcast.

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So almost as good as the Kelowna

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Real Estate Podcast.

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Yeah.

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No, he's helped us a lot.

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Helped helped me, us.

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So super stoked yeah, to have him
on.

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But one of the things we spoke
about was essentially, they can

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try and follow the real estate
boom or bust by seeing how many

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credit pulls are being done within
the brokerages as a mortgage

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company.

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So I mean, he kind of tracks the

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data and he says himself, he's
always bought at the worst time.

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So maybe he's not the best guy to
speak about this.

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You work there.

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They've always had like a very

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open door policy, been supportive
of my business as well.

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So yeah, shout out to those guys.

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out to those guys.

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And it is the best brokerage in
town.

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You know, like being an agent can
be a little bit lonely.

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Our job is to talk to people all
the time, but we're really in the

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business on our own.

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So Century 21 is a great place,

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like your business on your own,
but you're not alone.

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You know, like we are very
communal.

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It's a nice environment to help
each other out.

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One of the main reasons why I'm
still there.

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I can kind of come hang out in the
office, bounce ideas off each

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other, get some motivation fired
up and go get some listings.

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So it's a great place to be.

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a selling point for me.

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I just want to go hang out with
Matt in the office.

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Yeah.

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We'll dive into the show here.

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Enjoy it guys.

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Scott Peckford, give him a follow

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on his social media.

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He's putting out a lot of good

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content.

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And hey, if you are a mortgage

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broker and you're looking for a
change as well, feel free to reach

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out to me or Scott directly.

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They are building quite a large

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brokerage, so I can definitely
walk you through how that looks.

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Enjoy the show.

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Welcome to the show, Scott.

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Thanks for joining us.

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Thanks for having me.

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Yeah, we like to start our show
with just you connecting with our

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listener.

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What's your perfect productive

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Friday look like?
What do you do for fun leading

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into the weekend?
Okay, so I usually get up at 5.45.

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I do a stretching routine every
morning because I have a disc

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injury that I'm almost over.

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And I listen to a podcast, usually

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actually you're i listen to your
podcast only actually every day

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yeah i'm like i i listen to your
another part you can stay i listen

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to a podcast i do the stretching
then i usually i do like a quick

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mindset like reset my mind and
then i get to work you know my

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days are pretty scheduled so
everything is like i've got great

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support around me so it helps me
stay hopefully in my lane of where

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I think is my unique ability as
much as possible.

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I would like to be 80% unique
ability.

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I'm probably 25%, but the more
support and staff I put around me,

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the more I can do that.

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And then I don't usually do a lot

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of external meetings in the
morning.

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So what I'll do is I'll do my
creative work because that's when

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I'm most creative.

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And then afternoons will be

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meetings and you know, anything to
do with that.

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It's usually how I like to do it.

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I've been doing a lot of thinking

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more lately about energy
management than time management.

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Like most people, at least I feel
like I have certain times of the

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day, I'm very productive and very
creative.

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And I want to use that time for
that type of work instead of

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going, well, I have to do it.

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So I'm really think about energy

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management a lot.

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And I even, you know, I plan a

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workout at two o'clock in the
afternoon so that I have energy in

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the evening.

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Otherwise, sometimes if I just

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keep working till say four, I'm
usually so fried.

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And I find doing a workout at
later in the afternoon actually

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gives me like a second win for the
day.

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So it's kind of like a perfect day
for me.

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And then the weekends are just
whatever it's going to, you know,

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family and my kids are in
volleyball and motorcycle racing

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and whatever they're doing.

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That's what I would like to do my

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weekends is just do stuff with
them.

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stay i for to, Nice.

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Are you still on the ice bath

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train?
I know you're doing that.

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yeah, I still do that.

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I do it every day that I'm in

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town.

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So I started it, I don't know, 120

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days ago.

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Out of 100 days, I did 95 out of

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100.

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And I was pretty like, whenever

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I'm developing a new habit,
because I have ADD, what I find is

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I'll go extreme for the first 90
or 100 days so I can build that

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new habit after that I can let
myself have a little bit of

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because even during that first 100
days like when I would go on

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vacation I'd be in the hotel like
you know taking all the ice to the

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ice machine and everything and
they're like what the heck's wrong

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with you right I'm like so now I'm
like you know I'm on vacation I'm

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not gonna worry about it but I
have a setup at home now that I

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still do the cold day yeah I just
did you heard of a sauna on the

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lake no yes yeah so they recently
built this sauna on the lake and

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then they have a little cold
plunge spot it's right down near

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city park basically right now and
I think they'll move it in the

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summertime that'd be awesome how
did I not know that's because I

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yes yeah so I leave my office I
gotta go check is it still

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available or yeah yeah or yeah
yeah yeah so you book it online

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it's a seven person sauna so you
can either rent the whole thing or

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you can just buy like a single
seat and maybe there's other

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people in there.

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So I went this weekend with a few

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guys, man, the lake is cold.

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Like, yeah, I know you're doing

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ice baths, but like I was freezing
in there.

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so I set the temperature.

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I've got this tub that I had built

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and it's five degrees Celsius,
which I think is about lake

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00:08:53,051 --> 00:08:54,410
temperature, four to five degrees.

244
00:08:54,398 --> 00:08:55,270
The movement of water makes a

245
00:08:55,270 --> 00:08:55,649
difference.

246
00:08:55,649 --> 00:08:56,446
So I'm jammed in there.

247
00:08:56,446 --> 00:08:56,977
So I'm not moving.

248
00:08:56,977 --> 00:08:57,537
I know that the actual lake would

249
00:08:57,537 --> 00:08:59,640
be colder because you get this
little like layer of like warm

250
00:08:59,640 --> 00:09:00,820
between you and the cold that kind
of seems to work.

251
00:09:00,820 --> 00:09:02,218
So, but I'm going to try that.

252
00:09:02,218 --> 00:09:02,507
That's Yeah.

253
00:09:02,507 --> 00:09:02,796
Yeah.

254
00:09:02,796 --> 00:09:03,616
Give it a shot.

255
00:09:03,616 --> 00:09:03,857
That's awesome.

256
00:09:03,857 --> 00:09:04,002
Okay.

257
00:09:04,002 --> 00:09:05,862
Well, I mean, tell us a little bit
about yourself.

258
00:09:05,862 --> 00:09:06,990
Obviously I know who you are.

259
00:09:06,990 --> 00:09:07,195
Yeah.

260
00:09:07,195 --> 00:09:09,700
So I've been in the mortgage
business since 2006 and I started

261
00:09:09,700 --> 00:09:12,280
a podcast 10 years ago and about
five years ago, I started coaching

262
00:09:12,280 --> 00:09:14,080
mortgage brokers and I was doing
that exclusively.

263
00:09:14,180 --> 00:09:17,913
And then two and a half years ago
And I started a podcast 10 years

264
00:09:17,813 --> 00:09:18,081
ago.

265
00:09:18,081 --> 00:09:19,735
And about five years ago, I

266
00:09:19,635 --> 00:09:20,600
started coaching mortgage brokers.

267
00:09:20,940 --> 00:09:22,004
And I was doing that exclusively.

268
00:09:22,098 --> 00:09:24,380
And then two and a half years ago,
I started a brokerage, which is

269
00:09:24,380 --> 00:09:25,205
new for me.

270
00:09:25,205 --> 00:09:26,664
I love the training business.

271
00:09:26,664 --> 00:09:28,060
I love the mortgage business.

272
00:09:28,060 --> 00:09:28,607
I like podcasting.

273
00:09:28,607 --> 00:09:29,921
I've been in Kelowna since 2003.

274
00:09:29,921 --> 00:09:31,235
So when the fires happened, I love

275
00:09:31,235 --> 00:09:31,399
Kelowna.

276
00:09:31,399 --> 00:09:33,278
I try to convince every mortgage

277
00:09:33,278 --> 00:09:35,956
broker, you probably don't want me
to hear me say this, to move to

278
00:09:35,956 --> 00:09:37,932
Kelowna because I think it's the
best place to live.

279
00:09:37,932 --> 00:09:40,511
But I tell them, do your business
in Toronto, but like just live

280
00:09:40,415 --> 00:09:41,450
here because, you know, because
the mortgages are bigger there and

281
00:09:41,381 --> 00:09:41,581
stuff.

282
00:09:41,485 --> 00:09:42,547
So, you know, I just think Kelowna

283
00:09:42,530 --> 00:09:42,913
is a great city.

284
00:09:42,843 --> 00:09:43,600
And so I love it here.

285
00:09:43,600 --> 00:09:44,244
What made you want to start a
brokerage?

286
00:09:44,227 --> 00:09:44,801
I know you've spoken about this
before.

287
00:09:44,801 --> 00:09:46,814
I think it was a I think it was a
head injury, actually.

288
00:09:46,814 --> 00:09:47,229
Just kidding.

289
00:09:47,302 --> 00:09:48,148
Well, initially, because the

290
00:09:48,148 --> 00:09:50,491
training business I quite enjoyed
and the training business, I never

291
00:09:50,491 --> 00:09:51,296
trained people that were rookies.

292
00:09:51,296 --> 00:09:53,443
I was like, I will not train

293
00:09:53,443 --> 00:09:56,356
rookies because rookies are the
failure rates high.

294
00:09:56,356 --> 00:09:57,868
There's so much to learn.

295
00:09:57,868 --> 00:09:59,740
And so basically we had this

296
00:09:59,840 --> 00:10:02,140
thing, you'd have to be making a
minimum of a hundred grand a year.

297
00:10:02,140 --> 00:10:03,266
We wouldn't let you in our
training academy.

298
00:10:03,239 --> 00:10:05,180
And then when I had so many
rookies reach out, they're like,

299
00:10:05,620 --> 00:10:08,119
Hey, can we do training?
And I was like, ah, and so I ran

300
00:10:08,111 --> 00:10:11,560
an experiment and I was like,
okay, we can train you on half of

301
00:10:11,460 --> 00:10:13,567
this, but to do it well, we
actually need to have support.

302
00:10:13,567 --> 00:10:14,160
We need to have underwriting
support.

303
00:10:14,400 --> 00:10:16,767
We needed to build up and it would
be very expensive to run.

304
00:10:16,767 --> 00:10:17,939
So I thought, well, why don't we
just make it a brokerage and work

305
00:10:17,938 --> 00:10:21,702
out a split so that when they're
successful, we're successful.

306
00:10:21,702 --> 00:10:23,552
And this worked like our rookies
have funded.

307
00:10:23,552 --> 00:10:26,355
I don't even know, like 1200
mortgages or more by now.

308
00:10:26,355 --> 00:10:29,263
We've had tons of grads go through
the program and it's been great.

309
00:10:29,263 --> 00:10:31,166
Like, you know, and so that's how
I got there.

310
00:10:31,166 --> 00:10:33,440
It was not on about podcasting?
Like you're a prolific podcaster.

311
00:10:33,440 --> 00:10:34,709
You're one of the inspirations for
this show.

312
00:10:34,809 --> 00:10:35,925
Like how many episodes do you
have?

313
00:10:35,925 --> 00:10:37,299
I'm probably close to 600.

314
00:10:37,299 --> 00:10:38,040
People accuse me of being

315
00:10:38,040 --> 00:10:39,256
creative, but I'm not.

316
00:10:39,356 --> 00:10:40,789
All I do is I just find something

317
00:10:40,789 --> 00:10:42,481
in another industry and go, Oh,
could this work here?

318
00:10:42,481 --> 00:10:44,173
And so I followed, I love
marketing podcasts with Joe Polish

319
00:10:44,173 --> 00:10:44,854
and Dean Jackson.

320
00:10:44,754 --> 00:10:46,235
And I was like, I'm going to start

321
00:10:46,235 --> 00:10:46,552
a podcast.

322
00:10:46,652 --> 00:10:48,767
What am I going to call it?

323
00:10:48,667 --> 00:10:49,830
I'm like, how about I Love
Mortgage Brokering?

324
00:10:49,830 --> 00:10:52,791
And literally, if you look at my
logo, I was like, it looks like I

325
00:10:52,791 --> 00:10:53,796
literally ripped those guys off.

326
00:10:53,796 --> 00:10:54,800
And for me, the vision, because

327
00:10:54,800 --> 00:10:58,237
when I go to a mortgage
conference, I would find often in

328
00:10:58,237 --> 00:11:00,510
the lobby, sitting there talking
to another top producer about

329
00:11:00,510 --> 00:11:01,885
their business was way more
valuable than the speakers.

330
00:11:01,885 --> 00:11:05,005
And I was like, well, I can't do
that all the time because A, it's

331
00:11:05,005 --> 00:11:06,538
a lot of traveling and B, I'd be
an alcoholic.

332
00:11:07,172 --> 00:11:10,979
So why don't I just do a podcast
and do the same thing and so

333
00:11:11,064 --> 00:11:13,868
that's how it started by really I
just followed my curiosity and I

334
00:11:13,968 --> 00:11:16,335
almost nuked it a couple times
because my work was so busy and I

335
00:11:16,335 --> 00:11:19,149
was trying to like it was a labor
of love didn't make any money with

336
00:11:19,138 --> 00:11:22,428
it yeah and it was an episode 100
before I got sponsor and I didn't

337
00:11:22,528 --> 00:11:24,423
produce my own show so if
anybody's thinking we're doing

338
00:11:24,423 --> 00:11:26,843
like do not do that that is not a
good use of your time so i didn't

339
00:11:26,843 --> 00:11:28,993
produce a single episode i didn't
edit anything remember i got my

340
00:11:29,093 --> 00:11:31,757
first sponsor and i was like this
is really cool like i'm getting

341
00:11:31,757 --> 00:11:35,077
paid to like talk to people right
so yeah and then it just grown

342
00:11:35,077 --> 00:11:38,552
from there over the years cost to
start a podcast as taylor and i

343
00:11:38,552 --> 00:11:41,849
have learned the hard way you know
like it's not free it's such a a

344
00:11:41,749 --> 00:11:43,619
slow burn though right like?
Like, so episode a hundred was

345
00:11:43,619 --> 00:11:44,420
when you got sponsorship.

346
00:11:44,420 --> 00:11:46,090
When did you find like, it really

347
00:11:46,090 --> 00:11:47,203
started to add value to your
business?

348
00:11:47,203 --> 00:11:49,853
Well, when I started the training
company, so however many years

349
00:11:49,853 --> 00:11:52,950
that was into the podcast,
initially you ran Facebook ads to

350
00:11:52,950 --> 00:11:55,524
drive traffic to a webinar and the
webinar, then to book call and

351
00:11:55,524 --> 00:11:56,226
book call into the training
program.

352
00:11:56,226 --> 00:11:58,354
And it was working pretty good,
but I was up to a point where I

353
00:11:58,354 --> 00:12:02,039
was spending, which is not tons of
money but i spent about 10 grand a

354
00:12:02,039 --> 00:12:05,304
month on facebook ads geez that is
tons of money well i know people

355
00:12:05,304 --> 00:12:07,113
spend way more than that but and
it was working like the math

356
00:12:07,113 --> 00:12:09,217
worked from yeah it was a
profitable business then my

357
00:12:09,217 --> 00:12:11,427
facebook account like they
basically banned my ads because

358
00:12:11,427 --> 00:12:13,302
they thought i was targeting
because there's some rules around

359
00:12:13,302 --> 00:12:15,724
if they think you're selling
mortgages on facebook you can't

360
00:12:15,724 --> 00:12:18,762
target and yeah because of like
some those are new yeah you can

361
00:12:19,029 --> 00:12:19,832
Facebook, you can't target.

362
00:12:19,832 --> 00:12:21,062
And because of like some- Those

363
00:12:21,062 --> 00:12:21,437
are Yeah.

364
00:12:21,436 --> 00:12:21,597
new.

365
00:12:21,597 --> 00:12:22,186
You can't target.

366
00:12:22,185 --> 00:12:22,809
You can't right?

367
00:12:22,809 --> 00:12:25,294
target, So it's like a basically
so you can't like, but I'm

368
00:12:25,294 --> 00:12:26,413
discriminate, I'm not selling
mortgages.

369
00:12:26,413 --> 00:12:27,780
like, I'm selling training.

370
00:12:27,940 --> 00:12:29,143
And of course they banned my

371
00:12:29,143 --> 00:12:31,320
account, but you can't get anybody
on the phone.

372
00:12:31,840 --> 00:12:34,239
You can't like, I'm only spending
10 grand a month.

373
00:12:34,239 --> 00:12:35,516
You need to be Texting Mark's
number.

374
00:12:35,516 --> 00:12:35,960
Yeah.

375
00:12:36,040 --> 00:12:38,257
You need to be spending a hundred

376
00:12:38,257 --> 00:12:41,280
grand a month to get somebody
probably to talk to you on

377
00:12:41,280 --> 00:12:41,415
Facebook.

378
00:12:41,415 --> 00:12:42,943
And if I was spending a hundred

379
00:12:42,943 --> 00:12:44,520
grand, they would have, and I have
a friend who did Facebook.

380
00:12:44,515 --> 00:12:46,078
He said, just set up a new
account, start over.

381
00:12:46,041 --> 00:12:48,174
And I thought like, ah, maybe I
can just do this all off organic

382
00:12:48,174 --> 00:12:49,763
traffic and I can skip the 120
grand a year.

383
00:12:49,763 --> 00:12:51,300
And so that's when it became
really profitable.

384
00:12:51,300 --> 00:12:53,192
I just used the podcast to drive
traffic to my training company and

385
00:12:53,192 --> 00:12:54,985
I eliminated, you know, $120,000 a
year bill.

386
00:12:54,985 --> 00:12:56,316
I did less volume.

387
00:12:56,316 --> 00:12:58,399
So like it was lower, but the net

388
00:12:58,399 --> 00:12:59,209
was higher.

389
00:12:59,209 --> 00:13:00,797
I ended up putting more money in

390
00:13:00,797 --> 00:13:03,162
my jeans and I was like, this just
makes more funny.

391
00:13:03,106 --> 00:13:03,744
I'm trying to figure out now how I
found you.

392
00:13:03,844 --> 00:13:05,020
And I think it was literally just,
I was on Apple searched in like

393
00:13:05,640 --> 00:13:06,460
mortgage brokering and you came
up.

394
00:13:06,449 --> 00:13:09,934
And so I started listening to your
podcast.

395
00:13:09,802 --> 00:13:10,032
And so it was like, that is the
lead gen.

396
00:13:09,997 --> 00:13:10,271
It Yeah, it works.

397
00:13:10,271 --> 00:13:11,940
And now I have a sponsor for my

398
00:13:12,040 --> 00:13:12,360
show.

399
00:13:12,260 --> 00:13:13,540
So I feel pretty lucky that I get

400
00:13:13,620 --> 00:13:15,960
to talk to my interesting people
and I get paid to grow my

401
00:13:15,920 --> 00:13:16,000
business.

402
00:13:16,000 --> 00:13:18,072
Like I got like a marketing

403
00:13:18,072 --> 00:13:18,272
funnel.

404
00:13:18,247 --> 00:13:18,824
So it's pretty awesome.

405
00:13:18,818 --> 00:13:19,125
Yeah.

406
00:13:19,125 --> 00:13:19,695
Now it's like self-sufficient.

407
00:13:19,695 --> 00:13:21,711
Are you going to ever get to the
point where you would replace

408
00:13:21,694 --> 00:13:22,829
yourself?
don't think so because I like it

409
00:13:22,891 --> 00:13:23,049
too much.

410
00:13:23,049 --> 00:13:23,630
Like so if I find interesting

411
00:13:23,630 --> 00:13:23,920
guests.

412
00:13:24,020 --> 00:13:25,163
So like lately I found some really

413
00:13:25,263 --> 00:13:26,864
interesting guys down in the U.S.

414
00:13:26,964 --> 00:13:28,195
that are doing some really cool

415
00:13:28,195 --> 00:13:28,321
stuff.

416
00:13:28,321 --> 00:13:30,032
And so this is a mistake.

417
00:13:30,032 --> 00:13:32,641
And if you guys have a podcast,
what I found is that I don't know

418
00:13:32,641 --> 00:13:36,262
why I didn't think of this, but I
went to a podcast conference and

419
00:13:36,262 --> 00:13:40,289
they're like, ask your guests,
like who are two or three people

420
00:13:40,289 --> 00:13:41,907
you know that would be great.

421
00:13:41,907 --> 00:13:43,173
And so I get off the show with

422
00:13:43,167 --> 00:13:44,860
this guy and I'm like, hey, can
you give me some names?

423
00:13:44,960 --> 00:13:45,985
Oh, yeah, I got names.

424
00:13:46,597 --> 00:13:47,827
But I asked specifically, I said,

425
00:13:47,827 --> 00:13:50,198
so in the U.S. for mortgage,
because my podcast is for mortgage

426
00:13:50,298 --> 00:13:50,606
brokers.

427
00:13:50,506 --> 00:13:51,801
And so the Scotsman's Guide is

428
00:13:51,801 --> 00:13:53,341
like they rank them all.

429
00:13:53,341 --> 00:13:54,998
And I said, OK, who else do you

430
00:13:54,998 --> 00:13:56,945
know that's in the Scotsman's
Guide that I should talk to?

431
00:13:56,945 --> 00:13:58,238
And he's like, here, boom.

432
00:13:58,338 --> 00:13:59,584
And every single one of them have

433
00:13:59,584 --> 00:14:01,448
been like, oh, my goodness, you
people are amazing.

434
00:14:01,448 --> 00:14:04,725
And so I'm excited because they're
interesting, you know, and I'm

435
00:14:04,725 --> 00:14:05,587
getting these introductions from
people.

436
00:14:05,587 --> 00:14:07,996
And it's because I actually was
specific about my ask.

437
00:14:07,996 --> 00:14:11,760
I didn't just say, you know,
adding in that Scotsman's Guide

438
00:14:11,900 --> 00:14:14,578
part prompted their mind to go oh
i know that's so true every guest

439
00:14:14,578 --> 00:14:17,470
that we've had on that we then
asked for a referral for another

440
00:14:17,470 --> 00:14:20,138
guest has been like amazing we
haven't been good at that from the

441
00:14:20,138 --> 00:14:21,993
start and sometimes they haven't
even given us the introduction

442
00:14:21,993 --> 00:14:24,425
they're just like oh you should
ask this person i'll send them a

443
00:14:24,425 --> 00:14:26,860
linkedin message and i'm like oh
they to me yeah so like use the

444
00:14:26,860 --> 00:14:28,474
guests that you get because
they're all networked right like

445
00:14:28,474 --> 00:14:31,550
so this guy wally i don't know if
you've listened to this episode

446
00:14:31,550 --> 00:14:34,034
but he does 200 million a year
works 24 hours a week takes 20

447
00:14:34,034 --> 00:14:36,322
weeks of holidays and i just fell
out of my chair i'm like nobody

448
00:14:36,322 --> 00:14:38,571
does and he owns like 400 rental
units i'm like who is this guy

449
00:14:38,671 --> 00:14:41,900
right and so the people he knows
are pretty freaking awesome and so

450
00:14:41,900 --> 00:14:43,988
all the introductions have been
like awesome somebody i'm

451
00:14:43,988 --> 00:14:45,500
podcasting with later today is
from that introduction.

452
00:14:45,660 --> 00:14:46,318
So I'm like giddy up.

453
00:14:46,318 --> 00:14:47,811
I have no idea what we're going to

454
00:14:47,811 --> 00:14:50,255
talk about, but I don't even care
because I think it's going to be

455
00:14:50,255 --> 00:14:50,596
fun.

456
00:14:50,596 --> 00:14:50,767
Yeah.

457
00:14:50,767 --> 00:14:53,780
I want to circle back to one
thing, your unique ability and you

458
00:14:53,900 --> 00:14:56,066
allocating 80 or 60% of your time
to it.

459
00:14:56,166 --> 00:14:59,594
So what is your unique ability?
I I think my unique ability is I

460
00:14:59,594 --> 00:15:01,794
can find other people's superpower
and then see if it's repeatable.

461
00:15:01,894 --> 00:15:04,936
And then if it's repeatable, other
people can copy it.

462
00:15:04,936 --> 00:15:06,795
So not every superpower is, you
know, copyable.

463
00:15:06,795 --> 00:15:09,104
So like Michael Jordan can dunk
from the free throw line.

464
00:15:09,104 --> 00:15:09,825
Can't do that.

465
00:15:09,825 --> 00:15:11,629
But what I find, I love figuring

466
00:15:11,629 --> 00:15:13,607
out what somebody's superpower is
and then going, okay.

467
00:15:13,607 --> 00:15:15,845
And then creating like a framework
or a system that someone else can

468
00:15:15,845 --> 00:15:19,374
go, okay, I may not be as good as
that person, but I can do way

469
00:15:19,374 --> 00:15:21,860
better because I'm following like
a model that is more accurate.

470
00:15:21,860 --> 00:15:23,262
That's the part I love that part.

471
00:15:23,262 --> 00:15:24,913
So that's what the podcast, why I

472
00:15:24,907 --> 00:15:26,847
would never stop doing them is
because i'm constantly finding new

473
00:15:26,841 --> 00:15:29,805
frameworks and the thing i do now
my show is i ask i'm like what are

474
00:15:29,805 --> 00:15:32,186
the two superpowers that people
say you have if somebody were to

475
00:15:32,186 --> 00:15:35,710
know you really well and they go
oh this and this i'm like great

476
00:15:35,710 --> 00:15:38,616
that's all i want to talk about i
don't care about anything else

477
00:15:38,616 --> 00:15:41,725
because those two things if that's
their superpower that's where i'm

478
00:15:41,725 --> 00:15:45,160
going to find the most value
versus well we could talk about 50

479
00:15:45,280 --> 00:15:46,833
things and you know your childhood
and that's not.

480
00:15:46,833 --> 00:15:48,163
I don't frankly superpower then if
your first superpower is finding

481
00:15:48,129 --> 00:15:49,160
it?
I finding it in the second is

482
00:15:49,129 --> 00:15:49,265
simplifying it.

483
00:15:49,265 --> 00:15:50,903
I think they're related and it's

484
00:15:50,903 --> 00:15:52,223
the curiosity that drives me.

485
00:15:52,223 --> 00:15:54,237
Like I will routinely interview

486
00:15:54,237 --> 00:15:55,344
somebody at the end of it.

487
00:15:55,344 --> 00:15:56,423
They're like, oh my gosh, that was

488
00:15:56,423 --> 00:15:58,378
an amazing conversation because
their superpower, you're so used

489
00:15:58,378 --> 00:15:58,639
to it.

490
00:15:58,639 --> 00:16:00,854
They can't even articulate all of

491
00:16:00,854 --> 00:16:02,192
the ways, like they skip steps for
them.

492
00:16:02,192 --> 00:16:03,600
That's like, oh, this is what I
do.

493
00:16:03,900 --> 00:16:04,923
And it's four steps.

494
00:16:05,023 --> 00:16:06,049
Like, no, no, hold on.

495
00:16:06,049 --> 00:16:07,277
There's actually 12 steps in
there.

496
00:16:07,277 --> 00:16:09,359
And there's some really important
details that if you don't know how

497
00:16:09,459 --> 00:16:10,626
to ask the right questions, you'll
miss.

498
00:16:10,626 --> 00:16:12,847
And so I interviewed this girl
recently, Michelle Castle.

499
00:16:12,847 --> 00:16:15,642
I don't know her show's coming
out, but so she does these classes

500
00:16:15,642 --> 00:16:16,646
for real estate agents.

501
00:16:16,646 --> 00:16:18,097
And so she went over top level.

502
00:16:17,997 --> 00:16:19,010
I'm like, okay, stop, let's go
deeper.

503
00:16:19,010 --> 00:16:22,071
And then when she's done, I'm
like, there's so much that are

504
00:16:22,071 --> 00:16:24,124
second nature for you because
you've been doing it for years.

505
00:16:24,124 --> 00:16:26,825
But if you don't know how to ask
good questions, you won't find

506
00:16:26,825 --> 00:16:27,262
those things.

507
00:16:27,262 --> 00:16:28,455
So that's where I find my

508
00:16:28,455 --> 00:16:30,020
superpower is in like listening
and being like excited about what

509
00:16:30,020 --> 00:16:31,638
they're saying and then helping
them uncover.

510
00:16:31,638 --> 00:16:32,830
Because then the audience gets
served too, right?

511
00:16:32,796 --> 00:16:33,460
So It's so true.

512
00:16:33,460 --> 00:16:34,283
When you talk about your own

513
00:16:34,249 --> 00:16:35,170
stuff, you just think it's normal,
right?

514
00:16:35,163 --> 00:16:36,465
Like you talk about doing
transactions, Matt, and like

515
00:16:36,465 --> 00:16:37,983
everyone would just find gold
nuggets in that.

516
00:16:37,983 --> 00:16:40,179
But for you, it's just the day to
day.

517
00:16:40,179 --> 00:16:42,509
Like, especially to do with real
estate agents, all the changes

518
00:16:42,509 --> 00:16:43,248
happening right now.

519
00:16:43,248 --> 00:16:45,649
Like we have like the new laws

520
00:16:45,549 --> 00:16:49,803
coming out, the interest rates,
the mortgage situations with

521
00:16:49,803 --> 00:16:51,095
people's renewals and stuff like
that.

522
00:16:51,318 --> 00:16:52,818
Like I deal with this all the
time.

523
00:16:52,918 --> 00:16:55,202
So I think even making content on
the internet or talking to

524
00:16:55,302 --> 00:16:57,421
clients, like you don't know all
this stuff, like, no, they don't

525
00:16:57,421 --> 00:16:58,185
know all this stuff.

526
00:16:58,185 --> 00:16:59,648
no they don't know all this stuff

527
00:16:59,648 --> 00:17:02,739
like but for me it's almost old
news but you have to remember who

528
00:17:02,739 --> 00:17:05,327
you're talking to yeah you know
you are a wealth of knowledge if

529
00:17:05,227 --> 00:17:07,574
you know it or they we often miss
what is your biggest regret then

530
00:17:07,674 --> 00:17:11,259
in say the last 20 years of your
industry well i'm just laying on

531
00:17:11,259 --> 00:17:13,605
the table if like the easy one is
finding all the superpowers and

532
00:17:13,705 --> 00:17:16,686
i'll will say denise asked me to
ask this question i was if like

533
00:17:16,686 --> 00:17:19,480
talking oh i know my biggest
regret would be i would say in my

534
00:17:19,579 --> 00:17:22,519
30s because i like to create
things i did not want to listen to

535
00:17:22,519 --> 00:17:25,171
any coaching it was only in my 40s
when i started paying for coaching

536
00:17:25,136 --> 00:17:27,471
i've spent a lot of money on
coaching and it was a game changer

537
00:17:27,471 --> 00:17:28,909
because it's like you're getting
this ikea furniture and you're

538
00:17:28,809 --> 00:17:31,061
like i don't need to look at
instructions like i'm smart i'll

539
00:17:31,061 --> 00:17:34,735
figure this out of course you put
it together you realize one of the

540
00:17:34,735 --> 00:17:37,955
panels is backwards I've done this
you got to take the whole thing

541
00:17:37,817 --> 00:17:40,823
apart to flip the panel over so
that you can make it look right

542
00:17:40,823 --> 00:17:45,131
and so that's just a waste of now
I'm at the age I don't want to

543
00:17:45,131 --> 00:17:47,646
waste any time on that I don't
want to rebuild this thing the

544
00:17:47,646 --> 00:17:50,131
mistake I made was not really like
taking coaching and being like

545
00:17:50,231 --> 00:17:53,244
find the smartest people I can
tell me what to do and I'll copy

546
00:17:53,244 --> 00:17:53,479
it.

547
00:17:53,479 --> 00:17:55,712
I will iterate on top of their

548
00:17:55,712 --> 00:17:57,183
ideas if I can.

549
00:17:57,183 --> 00:17:58,531
But for sure, in my 30s, I was

550
00:17:58,508 --> 00:17:59,523
like, I'm just going to do myself.

551
00:17:59,523 --> 00:18:00,649
That costed me big time.

552
00:18:00,649 --> 00:18:03,073
So what So what kind of coaching?
Do you do coaching?

553
00:18:03,073 --> 00:18:05,724
Any area that I feel like there's
a gap or I feel like I'm getting

554
00:18:05,683 --> 00:18:05,802
stale.

555
00:18:05,802 --> 00:18:06,834
So I had a podcast coach recently

556
00:18:06,793 --> 00:18:07,784
and I've been doing this for 10
years.

557
00:18:07,784 --> 00:18:10,340
I've been doing it for longer than
him, but this is his profession

558
00:18:10,340 --> 00:18:11,536
and he's talking to people every
day.

559
00:18:11,536 --> 00:18:12,460
This is his focus.

560
00:18:12,460 --> 00:18:16,047
So I hired a podcast coach because

561
00:18:16,047 --> 00:18:18,133
I was like, I need to tune up.

562
00:18:18,133 --> 00:18:20,143
And so I will hire coaches for

563
00:18:20,143 --> 00:18:23,196
sales, marketing, where I have a
deficiency or an area that I want

564
00:18:23,196 --> 00:18:23,683
to learn.

565
00:18:23,683 --> 00:18:24,653
I'll hire a coach.

566
00:18:24,653 --> 00:18:20,815
Like that guy Wally, I hired as a
coach.

567
00:18:25,926 --> 00:18:28,777
I'm like, hey, I want you to coach
me on, you've built a successful

568
00:18:28,777 --> 00:18:30,767
business and somehow kept your
family as a priority.

569
00:18:30,767 --> 00:18:32,129
I've been able to do the business
side.

570
00:18:32,129 --> 00:18:33,556
I've been terrible at this thing.

571
00:18:33,556 --> 00:18:35,181
So he's like, sure, I'll do that.

572
00:18:35,181 --> 00:18:37,691
And so we worked on an arrangement
where he's helping me.

573
00:18:37,691 --> 00:18:39,541
I had did my first call with him
yesterday.

574
00:18:39,521 --> 00:18:40,309
It was fantastic.

575
00:18:40,290 --> 00:18:41,284
probably the accountability of

576
00:18:41,284 --> 00:18:43,163
paying for something too, right?
If someone's going to give you

577
00:18:43,163 --> 00:18:44,631
free coaching, you'd be like,
yeah, sure, whatever.

578
00:18:44,631 --> 00:18:47,520
And maybe you go through it, but
as soon as you pay for it, you're

579
00:18:47,520 --> 00:18:48,908
like, I want the most out of Yes.

580
00:18:48,908 --> 00:18:50,304
And I found that the more I spend

581
00:18:50,295 --> 00:18:52,069
on something like, and it's just
in general, the more people will

582
00:18:52,067 --> 00:18:52,690
put effort into it.

583
00:18:52,690 --> 00:18:53,649
So the most I ever spent on

584
00:18:53,649 --> 00:18:54,800
coaching was 75K US for one year.

585
00:18:54,800 --> 00:18:56,432
And that wasn't including travel

586
00:18:56,432 --> 00:18:59,770
to three different venues that I
had to pay for travel

587
00:18:59,770 --> 00:19:01,886
accommodations, like, and it was
worth every freaking penny.

588
00:19:01,886 --> 00:19:03,892
And so that's something I didn't
know in my thirties that I would

589
00:19:03,892 --> 00:19:05,397
say my younger self, like my son
is 17.

590
00:19:05,397 --> 00:19:07,130
He wants to get into sales.

591
00:19:07,230 --> 00:19:08,570
And so I have him booking calls

592
00:19:08,570 --> 00:19:08,734
for me.

593
00:19:08,734 --> 00:19:09,964
He phoned you actually.

594
00:19:09,964 --> 00:19:11,895
I'm like, hey, man, we're going to
start you off with baby steps.

595
00:19:12,230 --> 00:19:14,491
So if I'm like, if I wanted to
build a salesperson, I'm like, OK,

596
00:19:14,466 --> 00:19:15,682
we're going to start off with easy
stuff.

597
00:19:15,682 --> 00:19:17,386
And then I'm like, OK, I've been
doing these improv classes.

598
00:19:17,386 --> 00:19:18,560
I'm like, you're going to do
improv classes because these are

599
00:19:18,840 --> 00:19:20,377
going to help you think on your
feet.

600
00:19:20,361 --> 00:19:23,062
And I'm just going to layer in all
of these things.

601
00:19:23,062 --> 00:19:25,045
And I'll get him coaching too
throughout this, but like just

602
00:19:25,019 --> 00:19:26,234
layer it in to get him there
faster.

603
00:19:26,234 --> 00:19:26,866
Oh, interesting.

604
00:19:26,866 --> 00:19:29,556
So what do you sell you?

605
00:19:29,551 --> 00:19:31,851
Well, I asked you to book a call
with Scott to talk about like

606
00:19:31,821 --> 00:19:33,580
anything I want to work on or
issues with the brokerage or

607
00:19:33,720 --> 00:19:33,900
opportunities.

608
00:19:34,000 --> 00:19:35,340
And I was like, you know what?

609
00:19:35,340 --> 00:19:37,960
I'm chatting to him for an hour
tomorrow.

610
00:19:37,960 --> 00:19:41,620
Like I don't want to chew up any
more of his time.

611
00:19:41,610 --> 00:19:46,498
But if I knew it was a- I to hire
you to coach me to how to get off

612
00:19:46,398 --> 00:19:47,303
the calls with those kinds of
things.

613
00:19:47,303 --> 00:19:49,114
I get those sales calls all good.

614
00:19:49,114 --> 00:19:49,632
I appreciate it.

615
00:19:49,632 --> 00:19:53,309
I mean, that's the nice part of
you running the brokerage is like,

616
00:19:53,309 --> 00:19:55,090
although you're incredibly busy,
you're very approachable, which is

617
00:19:55,090 --> 00:19:55,398
pretty nice.

618
00:19:55,398 --> 00:19:56,940
What do you see changing in the

619
00:19:57,140 --> 00:19:59,005
next kind of like five, 10 years
in the mortgage industry?

620
00:19:58,995 --> 00:20:00,435
Obviously, you know, there's like
AI and stuff like that.

621
00:20:00,426 --> 00:20:02,747
And I know you're not really like
weeds deep in lender guidelines,

622
00:20:02,747 --> 00:20:04,793
but I guess what's the next
opportunity for brokers or

623
00:20:04,893 --> 00:20:07,625
homeowners or real estate agents?
Like what's kind of the direction

624
00:20:07,625 --> 00:20:10,960
of the industry Well, I think that
we're going to move to more, it's

625
00:20:11,460 --> 00:20:14,113
already happening, but you don't
realize it, but like automated

626
00:20:14,113 --> 00:20:14,325
adjudication.

627
00:20:14,325 --> 00:20:16,413
So using software to do some of

628
00:20:16,413 --> 00:20:18,447
the heavy lifting in terms of
underwriting files.

629
00:20:18,447 --> 00:20:20,932
And so I feel like that's going to
continue.

630
00:20:20,932 --> 00:20:21,587
So that's good.

631
00:20:21,587 --> 00:20:22,405
That'll make our jobs easier.

632
00:20:22,405 --> 00:20:25,115
I think that in the future, you're
going to have fewer brokers doing

633
00:20:25,115 --> 00:20:25,634
more volume.

634
00:20:25,634 --> 00:20:26,613
Sales and marketing is not going

635
00:20:26,613 --> 00:20:26,746
away.

636
00:20:26,746 --> 00:20:31,279
Because at the end of the day, if

637
00:20:31,228 --> 00:20:32,753
you think of this, like you can
walk into Scotiabank Arena in

638
00:20:32,753 --> 00:20:33,311
Toronto, you know, everything's
Scotiabank.

639
00:20:33,311 --> 00:20:36,209
And then you walk out and you talk
to a mortgage broker and you get a

640
00:20:36,195 --> 00:20:37,056
mortgage at TD Bank.

641
00:20:37,012 --> 00:20:38,370
And it's like, they spent a lot of

642
00:20:38,370 --> 00:20:40,166
money and it did not convert them
into a customer, right?

643
00:20:40,166 --> 00:20:41,913
And you know, another bank, BMO,
just came into the channel and

644
00:20:41,913 --> 00:20:43,587
they're slowly rolling out to more
and more brokerages.

645
00:20:43,587 --> 00:20:45,840
It's because they're like they
can't get into every nook and

646
00:20:45,940 --> 00:20:47,986
cranny of a community like really
good salespeople can or community

647
00:20:47,986 --> 00:20:49,416
people can.

648
00:20:49,316 --> 00:20:50,723
So I don't think we're going

649
00:20:50,692 --> 00:20:50,860
anywhere.

650
00:20:51,240 --> 00:20:52,025
But I think that brokers who don't

651
00:20:52,017 --> 00:20:54,010
adopt technology, who don't adopt
AI in the parts of their business

652
00:20:54,010 --> 00:20:56,172
that they can, who don't get good
at sales and marketing, because

653
00:20:56,163 --> 00:20:57,571
that is what we get paid for.

654
00:20:57,571 --> 00:20:59,026
At the end of the day, if you

655
00:20:59,015 --> 00:21:00,622
think about it, the people that
work at, if you're talking about

656
00:21:00,622 --> 00:21:02,305
Scotiabank, they know their
products better than you do.

657
00:21:02,305 --> 00:21:03,308
Like they are better at
underwriting than you.

658
00:21:03,308 --> 00:21:04,620
What they can't do is they can't
go find that customer.

659
00:21:04,720 --> 00:21:06,055
And that's what they're paying you
for.

660
00:21:07,126 --> 00:21:09,051
And so I don't think that that's
going to change.

661
00:21:09,025 --> 00:21:11,164
I think that it'll become more
competitive, but the people that

662
00:21:11,164 --> 00:21:14,889
you guys are already ahead of the
curve and that, you you know this

663
00:21:14,889 --> 00:21:17,101
podcast is effectively marketing
in terms of getting your name out

664
00:21:17,101 --> 00:21:19,469
there getting introductions
meeting people so people that

665
00:21:19,369 --> 00:21:21,833
aren't doing that they're going to
get steamrolled so i feel like

666
00:21:21,833 --> 00:21:24,600
that's a massive opportunity so
that's one thing i think is going

667
00:21:24,600 --> 00:21:28,544
to change is just this automated
adjudication will be a big it'll

668
00:21:28,544 --> 00:21:32,350
be a benefit mostly and then the
people who don't want to adopt the

669
00:21:32,350 --> 00:21:35,315
new technologies are going to get
like just left behind i it's like

670
00:21:35,315 --> 00:21:38,628
ai is kind of like when computers
came out but times a thousand you

671
00:21:38,628 --> 00:21:41,423
know like with how fast it's going
to take over and i don't think

672
00:21:41,423 --> 00:21:44,504
it's going to replace the great
thing i like about my podcast i

673
00:21:44,604 --> 00:21:48,519
get to do a lot of like research
and so i found a guy down in north

674
00:21:48,419 --> 00:21:50,162
carolina was working with a lender
that is completely ai there's no

675
00:21:50,162 --> 00:21:51,859
people they basically send in the
documents it goes and pulls your

676
00:21:51,859 --> 00:21:55,780
income from the income providing
companies that do all the checks

677
00:21:55,860 --> 00:21:56,502
like the payroll companies.

678
00:21:56,479 --> 00:21:57,143
It pulls your tax information,

679
00:21:57,143 --> 00:21:57,939
pulls your property tax
information.

680
00:21:57,939 --> 00:21:58,254
It comes back.

681
00:21:58,248 --> 00:22:00,212
Yep, we'll give you a line of

682
00:22:00,112 --> 00:22:02,748
credit up to 95% loan to value and
up to $500,000 limit.

683
00:22:02,748 --> 00:22:04,620
And it's all done through a
machine.

684
00:22:04,620 --> 00:22:05,965
And you negotiate with the
machine.

685
00:22:05,865 --> 00:22:08,822
The machine will come back to you
with like, hey, do you want this

686
00:22:08,822 --> 00:22:12,287
rate and this fee or you want this
fee and this rate?

687
00:22:12,287 --> 00:22:15,314
And that either will work or it
will be a catastrophe and they'll

688
00:22:15,314 --> 00:22:16,769
lose a pile of money.

689
00:22:16,748 --> 00:22:17,763
I feel like customers are actually

690
00:22:17,763 --> 00:22:19,394
going that way where they want
less interaction.

691
00:22:19,494 --> 00:22:22,601
A lot of customers I find don't
want the phone call where some you

692
00:22:22,701 --> 00:22:22,982
can pinpoint.

693
00:22:22,982 --> 00:22:24,821
You're like, oh, I need to call

694
00:22:24,721 --> 00:22:25,319
this person.

695
00:22:25,319 --> 00:22:26,624
They want to get on the phone for

696
00:22:26,624 --> 00:22:27,385
five minutes and resolve this
easy.

697
00:22:27,385 --> 00:22:29,737
But if you get somebody that
doesn't answer the phone and they

698
00:22:29,737 --> 00:22:32,701
just want a couple of text
messages or emails, they would

699
00:22:32,801 --> 00:22:34,817
rather have like an automated
system they push the button.

700
00:22:34,708 --> 00:22:37,120
Like just think about this right
now with a lot of people

701
00:22:37,020 --> 00:22:38,949
struggling financially, they
probably don't want to tell a

702
00:22:38,949 --> 00:22:40,493
human that they're missing their
payments or that they're.

703
00:22:40,593 --> 00:22:40,933
Yeah.

704
00:22:40,833 --> 00:22:41,126
It's Yeah.

705
00:22:41,126 --> 00:22:42,734
It's funny you say that.

706
00:22:42,634 --> 00:22:43,559
So they feel more comfortable

707
00:22:43,559 --> 00:22:43,759
talking.

708
00:22:43,754 --> 00:22:43,900
Yeah.

709
00:22:43,900 --> 00:22:46,027
I'd rather just tell a computer
and it doesn't say that stuff, you

710
00:22:46,027 --> 00:22:46,110
know?
Yeah.

711
00:22:46,110 --> 00:22:46,569
Yeah.

712
00:22:46,569 --> 00:22:48,047
So there's going to be more of

713
00:22:48,039 --> 00:22:48,183
that.

714
00:22:48,183 --> 00:22:50,589
But I think, so in the US still,

715
00:22:50,581 --> 00:22:51,864
they're much more aggressive in
banking.

716
00:22:51,864 --> 00:22:52,957
Like they're okay if banks fail.

717
00:22:52,945 --> 00:22:54,402
Like they fail all the time.

718
00:22:54,402 --> 00:22:55,344
In Canada, that won't happen.

719
00:22:55,344 --> 00:22:56,347
And getting a bank license is

720
00:22:56,336 --> 00:22:56,951
nearly impossible.

721
00:22:56,951 --> 00:22:58,227
They've only issued a couple in

722
00:22:58,227 --> 00:22:59,981
the last few years, like in the
last 10 years.

723
00:22:59,981 --> 00:23:00,801
And they're really strict.

724
00:23:00,801 --> 00:23:02,390
And so they're going to always be

725
00:23:02,390 --> 00:23:04,545
ahead of us in that stuff.

726
00:23:04,545 --> 00:23:05,588
Because this company that stuff

727
00:23:05,588 --> 00:23:08,049
because this company that's doing
this is they could lose all their

728
00:23:08,049 --> 00:23:08,254
money.

729
00:23:08,254 --> 00:23:09,370
And like, you know, in Canada,

730
00:23:09,370 --> 00:23:11,924
that would be like In They would
never let you do it.

731
00:23:11,924 --> 00:23:13,849
So. Is the evolution side of
mortgage broker, like, are we

732
00:23:13,849 --> 00:23:15,564
taking over more of the market
share than banks?

733
00:23:15,564 --> 00:23:16,045
We have been.

734
00:23:16,045 --> 00:23:18,399
So like in the last few years, and

735
00:23:18,399 --> 00:23:20,723
this was why you see some
institutions coming into the

736
00:23:20,723 --> 00:23:20,955
channel.

737
00:23:20,955 --> 00:23:22,640
It's like, dang, why compete with

738
00:23:22,640 --> 00:23:24,452
them?
Because let's just use them as our

739
00:23:24,452 --> 00:23:25,389
lead source.

740
00:23:25,389 --> 00:23:27,076
So yeah, we are a higher

741
00:23:27,076 --> 00:23:29,012
percentage than we were for sure.

742
00:23:29,012 --> 00:23:31,449
But that depends on the type of

743
00:23:31,549 --> 00:23:32,299
business.

744
00:23:32,199 --> 00:23:33,298
We're great on purchase.

745
00:23:33,198 --> 00:23:35,447
We're great on insured, you know,
rental business for self, any of

746
00:23:35,447 --> 00:23:36,197
that kind of stuff.

747
00:23:36,197 --> 00:23:37,634
Typically brokers are really good

748
00:23:37,634 --> 00:23:37,821
at.

749
00:23:37,821 --> 00:23:39,446
There's some stuff that the banks

750
00:23:39,446 --> 00:23:42,069
are definitely better at than us,
but that's fine.

751
00:23:42,069 --> 00:23:42,632
Mobile home parks.

752
00:23:42,632 --> 00:23:42,882
Yeah.

753
00:23:42,982 --> 00:23:44,006
But that's the easy conversation
too.

754
00:23:44,006 --> 00:23:46,880
Just tell them like, you're better
off to just be like you're not fit

755
00:23:47,080 --> 00:23:50,321
man like you know when i was
brokering i would do that all the

756
00:23:50,321 --> 00:23:54,016
time i'd be like like i don't
waste my time and you build more

757
00:23:54,016 --> 00:23:56,325
trust telling somebody no actually
often builds more trust than

758
00:23:56,325 --> 00:23:59,520
trying to make a square peg fit
not around we just had this topic

759
00:23:59,640 --> 00:24:01,529
at our meeting this morning at our
office how sometimes saying no

760
00:24:01,529 --> 00:24:03,832
like i'm not the perfect person
i'm at the right threshold for

761
00:24:03,832 --> 00:24:07,269
this builds more trust and builds
more of a referral in the long run

762
00:24:07,269 --> 00:24:08,500
than trying to do it yourself.

763
00:24:08,500 --> 00:24:08,872
Yeah.

764
00:24:08,872 --> 00:24:10,188
That's so interesting you brought
that up.

765
00:24:10,174 --> 00:24:10,374
Yeah.

766
00:24:10,360 --> 00:24:11,583
you say one thing.

767
00:24:11,569 --> 00:24:12,999
I don't know where it was.

768
00:24:12,999 --> 00:24:13,920
Maybe a month or two ago.

769
00:24:13,911 --> 00:24:15,809
It was probably on one of your
podcasts.

770
00:24:15,809 --> 00:24:18,103
But one of the broker owners sees
basically the real estate market

771
00:24:18,103 --> 00:24:19,609
from how many credit pulls are
happening within their brokerage,

772
00:24:19,609 --> 00:24:20,560
which I thought was actually
really interesting.

773
00:24:20,527 --> 00:24:22,426
And I know myself, like I've been
much busier.

774
00:24:22,421 --> 00:24:23,985
What have you been seeing in the
background?

775
00:24:23,885 --> 00:24:24,959
have you reviewed that at BRICS?
Yeah.

776
00:24:24,959 --> 00:24:25,288
So Yeah.

777
00:24:25,288 --> 00:24:26,201
So I've just referenced if you're

778
00:24:26,301 --> 00:24:26,633
listening.

779
00:24:26,533 --> 00:24:27,751
So usually credit pulls happen way

780
00:24:27,751 --> 00:24:30,880
early in a process and you will
pull credit on people that A,

781
00:24:30,854 --> 00:24:33,260
don't qualify, B, change their
mind, like a hundred reasons why.

782
00:24:33,400 --> 00:24:36,644
So there's a higher number of
credit pulls compared to the

783
00:24:36,607 --> 00:24:37,338
number of actual funded mortgages.

784
00:24:37,338 --> 00:24:38,432
And so I looked at the ratio

785
00:24:38,395 --> 00:24:42,525
between credit pulls to funded
mortgages and kind of came up with

786
00:24:42,525 --> 00:24:44,640
a number that looked like it was
about right.

787
00:24:44,640 --> 00:24:45,120
And the number was actually off.

788
00:24:45,069 --> 00:24:46,727
So when I had done it, I thought

789
00:24:46,727 --> 00:24:49,463
that like based on the credit
pulls that we had in, it was 60

790
00:24:49,463 --> 00:24:52,652
days before credit pulls we had in
November, I was expecting us to

791
00:24:52,652 --> 00:24:55,591
have about 150 mortgages funded in
January, but the number was like,

792
00:24:55,591 --> 00:24:57,580
I think a hundred and I want to
say 175, 180.

793
00:24:57,580 --> 00:24:59,522
So it's not by a lot, but we
actually had more funded mortgages

794
00:24:59,522 --> 00:25:02,017
than my, you know, non-scientific
formula came up with, but it's

795
00:25:02,017 --> 00:25:03,069
just a leading indicator.

796
00:25:03,069 --> 00:25:04,552
It's not a perfect metric, but it

797
00:25:04,652 --> 00:25:07,367
will give you some measurement in
terms of what's potentially coming

798
00:25:07,367 --> 00:25:08,271
down the pipeline.

799
00:25:08,171 --> 00:25:09,424
And so And so probably pretty

800
00:25:09,419 --> 00:25:10,054
seasonal right?
Yeah.

801
00:25:09,954 --> 00:25:11,220
Well, mortgages are seasonal for
sure.

802
00:25:11,220 --> 00:25:14,100
Like, you know, people don't
usually want to move as much in

803
00:25:14,100 --> 00:25:14,527
the winter.

804
00:25:14,527 --> 00:25:16,660
And then if they buy a property in

805
00:25:16,940 --> 00:25:19,488
the spring, their mortgage is
going to renew in the spring.

806
00:25:19,488 --> 00:25:22,928
So then you're going to have
renewals are going to happen at

807
00:25:22,928 --> 00:25:24,061
the same time.

808
00:25:24,061 --> 00:25:25,270
I mean, like during the winter,

809
00:25:25,270 --> 00:25:26,864
you must at the almost, I don't
increased, but more credit pulls

810
00:25:26,819 --> 00:25:28,608
in the winter and then the No,
it's way more in the spring.

811
00:25:28,608 --> 00:25:29,498
Like that would be low.

812
00:25:29,498 --> 00:25:30,701
So for us, like the number of

813
00:25:30,701 --> 00:25:34,001
credit pulls in November was lower
than it would have been like back

814
00:25:34,001 --> 00:25:35,311
in July because it was, you know.

815
00:25:26,315 --> 00:25:36,872
Yeah, I feel like most people are

816
00:25:36,872 --> 00:25:39,901
like, OK, I'm just going to hunker
down for Christmas, you know,

817
00:25:39,901 --> 00:25:40,425
enjoy the holidays.

818
00:25:40,425 --> 00:25:41,644
And then when they start doing

819
00:25:41,644 --> 00:25:44,232
their taxes, they're like, oh,
maybe I should look at, you know,

820
00:25:44,231 --> 00:25:45,402
maybe my income's higher this year
or something.

821
00:25:45,402 --> 00:25:48,086
But are you seeing the market like
this time this year compared to

822
00:25:48,053 --> 00:25:50,120
last year?
Like, is there more activity like

823
00:25:50,260 --> 00:25:51,415
we're seeing it?
But yeah, I see it.

824
00:25:51,415 --> 00:25:53,364
The problem that we have, I'm not
a great barometer for that because

825
00:25:53,316 --> 00:25:56,165
our brokerage keeps adding more
people and so even if everybody

826
00:25:56,165 --> 00:25:59,471
was doing less volume it would
look like we're doing more because

827
00:25:59,471 --> 00:26:03,766
when you add more people it's like
well our volume went up just from

828
00:26:03,666 --> 00:26:06,406
that so yeah anecdotally when i
talk to people that especially in

829
00:26:06,406 --> 00:26:09,085
ontario i feel like there's a
pent-up demand like that didn't go

830
00:26:08,985 --> 00:26:13,073
away the demand hasn't gone and so
they're kind of just waiting and i

831
00:26:13,073 --> 00:26:16,097
feel like when we see that first
rate cut we're all herd animals

832
00:26:16,197 --> 00:26:19,777
we're just gonna follow oh time to
buy now they're all gonna run back

833
00:26:19,777 --> 00:26:23,205
to starting to buy i agree with
you that first rate cut's gonna be

834
00:26:23,205 --> 00:26:26,237
uh yeah gonna be fireworks all
over this yeah people are gonna go

835
00:26:26,237 --> 00:26:29,150
crazy and then they're gonna be
like it's time to get in it's time

836
00:26:29,150 --> 00:26:31,924
to end like it's just human nature
yeah everyone wants to outsmart

837
00:26:31,824 --> 00:26:33,851
the next guy by like everybody
else exactly i've said this a

838
00:26:33,851 --> 00:26:35,647
billion times that people are
waiting for prices to go up before

839
00:26:35,647 --> 00:26:39,061
they start buying yeah like so
like the prices are low now but i

840
00:26:39,061 --> 00:26:43,335
want them to go up before i jump
in and you're to be competing so

841
00:26:43,335 --> 00:26:45,727
it's going to happen people are
waiting they're all waiting and

842
00:26:45,727 --> 00:26:50,003
they're all going to go back at
the same time and be like oh shoot

843
00:26:49,903 --> 00:26:53,242
now i'm competing with all these
people and now the seller's it

844
00:26:53,242 --> 00:26:56,936
just saves 700 bucks on a home
yeah yeah well and i mean you've

845
00:26:56,936 --> 00:27:00,228
also said you've always done
fairly poorly i'm terrible state

846
00:27:00,228 --> 00:27:02,580
terrible state transactions i'm
the worst at predicting the market

847
00:27:02,680 --> 00:27:05,680
so like do not listen to anything
i say when it comes to timing the

848
00:27:05,640 --> 00:27:07,673
yeah yeah what do you see i mean i
know this is a question you just

849
00:27:07,673 --> 00:27:10,338
said don't ask but what do you see
in the okanagan well i'm then

850
00:27:10,293 --> 00:27:12,278
you're probably like so now's the
to buy yeah like perfect when i

851
00:27:12,333 --> 00:27:14,586
buy it's usually the peak of the
market so at least the last two

852
00:27:14,585 --> 00:27:17,551
cycles okay so this is again not
scientific but the last two cycles

853
00:27:18,016 --> 00:27:20,367
i bought at the peak of the market
both times like january 2008 right

854
00:27:20,367 --> 00:27:22,759
bought a property july is like
subprime crisis the bottom falls

855
00:27:22,759 --> 00:27:25,978
out and i'm like oh that sucks and
then march of 2022 and you know

856
00:27:25,878 --> 00:27:28,802
that is the peak that was the peak
i mean a lot'm like oh that sucks

857
00:27:28,802 --> 00:27:31,752
and then march of 2022 and you
know that is the peak that was the

858
00:27:31,750 --> 00:27:34,317
peak mean a lot of people say that
as well i mean prior to your last

859
00:27:34,317 --> 00:27:36,940
purchase i'm fine now yeah like
fine now yeah like here's the

860
00:27:36,940 --> 00:27:40,751
thing if you hold it long enough
you're fine it's only if you have

861
00:27:40,751 --> 00:27:42,928
yourself that's exactly right if
you're gonna hold long enough it

862
00:27:42,928 --> 00:27:46,511
does not it not it will not make
any surrounding error but if you

863
00:27:46,511 --> 00:27:50,809
have to sell it that's when you
get yeah you have like you think

864
00:27:50,809 --> 00:27:54,427
about you talk to people from the
80s that have been through all

865
00:27:54,427 --> 00:27:57,897
this it's like do they really care
if they bought in 79 or 84 like no

866
00:27:57,897 --> 00:28:00,671
you know it makes no difference
yeah exactly okay well something

867
00:28:00,671 --> 00:28:03,549
you are at but you are pretty much
like a serial entrepreneur you've

868
00:28:03,549 --> 00:28:06,019
created a bunch of businesses
you've sold them like what makes

869
00:28:06,019 --> 00:28:09,160
you successful as someone I would
say I tend to, this is a learned

870
00:28:09,160 --> 00:28:09,413
habit.

871
00:28:09,413 --> 00:28:10,831
This wasn't how I first started,

872
00:28:10,831 --> 00:28:13,454
but I tend to only want to build
things that people want to buy.

873
00:28:13,454 --> 00:28:14,782
So I will do is that's a good
goal.

874
00:28:14,782 --> 00:28:16,111
Try and build like the minimum
viable product.

875
00:28:16,111 --> 00:28:17,667
What's the least amount of thing I
can sell.

876
00:28:17,667 --> 00:28:19,230
And if I can't sell that, my
assumptions are wrong.

877
00:28:19,195 --> 00:28:21,198
And so then it's like, okay, like
for instance, bricks, as an

878
00:28:21,198 --> 00:28:24,995
example, we're a brokerage, we had
more than a hundred agents.

879
00:28:24,995 --> 00:28:28,438
We didn't have a website, but we
didn't have a company website,

880
00:28:28,438 --> 00:28:31,371
which most people would be like,
oh, you got to have a company

881
00:28:31,371 --> 00:28:33,847
website and all the, and I'm like,
I didn't even think.

882
00:28:33,847 --> 00:28:35,739
And I only got one when somebody
reached out to me and said, hey,

883
00:28:35,739 --> 00:28:37,207
there's people running ads on your
company name.

884
00:28:37,207 --> 00:28:38,177
You probably should have a
website.

885
00:28:38,177 --> 00:28:39,809
And I was like, oh yeah, okay, we
can do that.

886
00:28:39,755 --> 00:28:40,977
And I set one up in 10 minutes
with a AI.

887
00:28:40,977 --> 00:28:42,237
And I was like, whatever.

888
00:28:42,237 --> 00:28:44,388
Because to that me, stuff doesn't

889
00:28:44,388 --> 00:28:44,598
matter.

890
00:28:44,598 --> 00:28:45,973
Like your website, unless it's the

891
00:28:46,715 --> 00:28:49,982
thing that, you know, I will build
a landing page, you know, a

892
00:28:49,982 --> 00:28:51,440
landing page that you need.

893
00:28:50,763 --> 00:28:52,378
So that's what I'm saying.

894
00:28:52,378 --> 00:28:54,993
What's the minimum thing that I
can do and then test my

895
00:28:54,993 --> 00:28:56,567
assumption?
And then if it's wrong, I'll, you

896
00:28:56,567 --> 00:28:57,133
know, adjust.

897
00:28:57,637 --> 00:28:58,892
So I think I've gotten better at

898
00:28:58,892 --> 00:28:59,123
that.

899
00:28:59,123 --> 00:29:00,452
I will not spend time and energy

900
00:29:00,452 --> 00:29:02,360
on things if I feel like there's
no market for it.

901
00:29:02,360 --> 00:29:04,245
Even if I like it.

902
00:29:04,245 --> 00:29:05,616
That's like, who cares?

903
00:29:05,616 --> 00:29:05,901
Yeah.

904
00:29:05,901 --> 00:29:07,672
Well, I guess flip side to that

905
00:29:07,672 --> 00:29:09,524
question, maybe I don't know maybe
I've only heard about the

906
00:29:09,524 --> 00:29:11,222
successful stuff but do you have
companies like there's so many

907
00:29:11,222 --> 00:29:14,386
dumpster fires man like so many so
the lesson is just keep trying as

908
00:29:14,386 --> 00:29:18,620
many yeah I I think you've got
that I think that's a good lesson

909
00:29:18,620 --> 00:29:21,415
the dumpster fires are actually
where I learned this because I

910
00:29:21,415 --> 00:29:23,681
jumped into things because I'm
like this sounds like a great idea

911
00:29:23,681 --> 00:29:24,629
and I was like what the heck I
didn't give this any thought and

912
00:29:24,530 --> 00:29:25,520
so like like, you know, that for
sure has been, and my wife, she

913
00:29:25,480 --> 00:29:27,848
would be like, she knows all the
dumpster fires and she knows where

914
00:29:27,848 --> 00:29:28,399
the bodies are.

915
00:29:28,399 --> 00:29:29,870
She'd be like, Oh, like, you know,

916
00:29:29,870 --> 00:29:31,047
she's seen all of it.

917
00:29:31,042 --> 00:29:31,528
And there's, so there's no, I

918
00:29:31,528 --> 00:29:33,432
can't snow her and be like, Oh,
she's like, yeah, right.

919
00:29:33,427 --> 00:29:35,832
But everybody, yeah, I've made
tons of mistakes, but the big

920
00:29:35,832 --> 00:29:37,233
thing that I've learned from those
mistakes is what's the smallest

921
00:29:37,233 --> 00:29:39,546
thing that I could try and sell or
sell the idea.

922
00:29:39,546 --> 00:29:42,391
And then if that works, cool, then
put more energy behind Well, I

923
00:29:42,391 --> 00:29:44,817
mean, yeah, when you know to cash
out, because like when you've

924
00:29:44,817 --> 00:29:45,048
sold.

925
00:29:45,048 --> 00:29:46,550
Sometimes, so this is a mistake

926
00:29:46,550 --> 00:29:49,186
I've made in the past is that if I
look back of the business I've

927
00:29:49,186 --> 00:29:52,898
sold, I probably wouldn't have
sold some of them if I was a

928
00:29:53,550 --> 00:29:53,901
better entrepreneur.

929
00:29:53,901 --> 00:29:55,449
I would have just brought in

930
00:29:55,449 --> 00:29:57,733
people to run them.

931
00:29:57,733 --> 00:30:00,602
And I didn't know that I could do

932
00:30:00,602 --> 00:30:00,944
that.

933
00:30:00,944 --> 00:30:04,970
I didn't know that there were

934
00:30:04,970 --> 00:30:07,467
people out there that were
actually better at running things

935
00:30:07,567 --> 00:30:08,000
than me.

936
00:30:08,000 --> 00:30:08,800
And so that's learning.

937
00:30:08,900 --> 00:30:09,653
You can build things.

938
00:30:09,653 --> 00:30:11,128
I'm the kind of person who likes

939
00:30:11,128 --> 00:30:11,873
to build things.

940
00:30:11,973 --> 00:30:12,555
Although the brokerage, somebody

941
00:30:12,555 --> 00:30:15,348
said to me the other day, he's
like, hey, so are you getting

942
00:30:15,348 --> 00:30:17,091
bored?
I'm like, no, because it's so much

943
00:30:17,091 --> 00:30:17,370
more complex.

944
00:30:17,366 --> 00:30:18,434
This is like a video game with

945
00:30:18,517 --> 00:30:21,365
like, you know, it's like all of a
sudden a new video game.

946
00:30:21,365 --> 00:30:24,140
Like there's levels to this stuff
I didn't even see.

947
00:30:24,260 --> 00:30:26,500
And so I'm quite enjoying the
complexity of it, but I didn't

948
00:30:26,587 --> 00:30:28,700
realize how you could just find
great people and like work on an

949
00:30:28,700 --> 00:30:29,477
arrangement and both you win.

950
00:30:29,477 --> 00:30:30,641
That's what something I would do

951
00:30:30,641 --> 00:30:30,787
different.

952
00:30:30,887 --> 00:30:31,855
Cause what would happen is I'd

953
00:30:31,855 --> 00:30:32,959
have this thing going and be okay.

954
00:30:32,959 --> 00:30:34,036
And then I'd have something else

955
00:30:34,036 --> 00:30:35,360
and they're competing for my time.

956
00:30:35,360 --> 00:30:37,949
And I'd always say, I can't fly

957
00:30:37,949 --> 00:30:38,576
two planes.

958
00:30:38,576 --> 00:30:40,503
So one of them is going to crash.

959
00:30:40,503 --> 00:30:42,873
So what am I going to do?
I'm going to sell a plane instead

960
00:30:42,873 --> 00:30:44,560
of find another pilot, let them
fly the plane.

961
00:30:44,740 --> 00:30:45,840
And then I can have two planes,
right?

962
00:30:46,020 --> 00:30:48,318
But I really didn't know that I
could do that.

963
00:30:48,418 --> 00:30:50,342
And this guy that I've talked
about earlier, Wally, like that's

964
00:30:50,342 --> 00:30:51,162
what he does.

965
00:30:51,162 --> 00:30:52,130
He's got like nine other pilots.

966
00:30:52,130 --> 00:30:53,683
Like somebody runs his commercial
business.

967
00:30:53,683 --> 00:30:54,804
Somebody runs this and he calls
them an integrator.

968
00:30:54,804 --> 00:30:56,880
There's a great book called
Traction by Gene Wickman.

969
00:30:56,980 --> 00:30:57,883
And there's a visionary and
integrator.

970
00:30:57,854 --> 00:30:59,057
Integrators are people that take
your ideas and execute.

971
00:30:59,057 --> 00:31:00,412
He is really good at that.

972
00:31:00,412 --> 00:31:01,767
And so that is something that I

973
00:31:01,767 --> 00:31:02,437
did not realize.

974
00:31:02,437 --> 00:31:03,522
I was like, oh, shoot, that

975
00:31:03,357 --> 00:31:05,453
probably cost me a bunch of money.

976
00:31:05,453 --> 00:31:06,659
I know it did.

977
00:31:06,559 --> 00:31:10,299
It cost me a lot of money, but I
don't live in the past and regret.

978
00:31:10,299 --> 00:31:12,176
I just like And Yeah.

979
00:31:12,176 --> 00:31:13,794
But then it's like you leapfrogged

980
00:31:13,794 --> 00:31:15,817
and got into a bunch of lessons.

981
00:31:15,817 --> 00:31:16,208
Yeah.

982
00:31:16,208 --> 00:31:16,600
of lessons.

983
00:31:16,600 --> 00:31:16,861
Yeah.

984
00:31:16,861 --> 00:31:16,926
Try to.

985
00:31:16,926 --> 00:31:18,239
I mean, you know, you definitely

986
00:31:18,237 --> 00:31:20,990
try to do that, but I try to make
sure that whatever I build has a

987
00:31:20,983 --> 00:31:22,459
market for it and scratch my own
itch.

988
00:31:22,430 --> 00:31:24,260
The other thing I'd say is like,
would I buy this if it existed?

989
00:31:24,260 --> 00:31:26,570
Or if I wouldn't, then why am I
doing that's important.

990
00:31:26,670 --> 00:31:28,044
Well, yeah, it definitely did
cross my mind.

991
00:31:28,044 --> 00:31:29,560
I was like, I wonder if Scott's
going terrible.

992
00:31:29,560 --> 00:31:31,076
You just would be not the right
time.

993
00:31:31,076 --> 00:31:34,185
But like, you know, over the next
five or six years kind of thing, I

994
00:31:34,185 --> 00:31:35,159
think it would make sense.

995
00:31:35,159 --> 00:31:36,718
But we need to build it bigger and

996
00:31:36,818 --> 00:31:37,411
get more value.

997
00:31:37,511 --> 00:31:39,321
And there's some other layers that

998
00:31:39,221 --> 00:31:41,974
I want to build in there that will
create more value, like stuff.

999
00:31:41,974 --> 00:31:42,978
But everything takes time.

1000
00:31:42,978 --> 00:31:44,421
You can't do it fast.

1001
00:31:44,421 --> 00:31:47,156
Don't worry, this thing's going to
blow up as soon as this podcast

1002
00:31:47,156 --> 00:31:47,957
gets released.

1003
00:31:47,957 --> 00:31:48,699
Yeah, like boom.

1004
00:31:48,699 --> 00:31:49,400
Hey, yeah.

1005
00:31:49,400 --> 00:31:51,430
If brokers want a new brokerage,

1006
00:31:51,430 --> 00:31:52,340
reach out to Scott.

1007
00:31:52,440 --> 00:31:52,720
Yeah.

1008
00:31:52,620 --> 00:31:55,596
Or his son's going to reach out to
you either way.

1009
00:31:55,596 --> 00:31:56,208
Make exactly.

1010
00:31:56,208 --> 00:31:56,430
Yeah.

1011
00:31:56,430 --> 00:31:56,541
Okay.

1012
00:31:56,541 --> 00:31:57,430
we've got to start wrapping up

1013
00:31:57,430 --> 00:32:00,622
because we know you got another
podcast to jump on to this is a

1014
00:32:00,622 --> 00:32:03,060
funny question for you though if
you could buy one property in the

1015
00:32:03,060 --> 00:32:05,715
okanagan in the next 12 months
what would it be could be

1016
00:32:05,715 --> 00:32:07,197
investment personal whatever but
we're basically just Yeah.

1017
00:32:07,197 --> 00:32:10,615
well right i would say that deals
are gonna be on condos in this

1018
00:32:10,615 --> 00:32:12,522
market like given that what
happened with airbnb like there's

1019
00:32:12,574 --> 00:32:14,236
going to be, you know, if I were
to buy anything now, I'd probably

1020
00:32:14,236 --> 00:32:15,774
buy a condo because I got three
kids at some point.

1021
00:32:15,714 --> 00:32:16,620
I'd like to eventually help them
all with their properties.

1022
00:32:16,680 --> 00:32:18,665
And we've said that a lot the past
few years.

1023
00:32:18,665 --> 00:32:20,700
Honestly, the condo prices are for
sure coming down, but they won't

1024
00:32:20,700 --> 00:32:22,085
be So I agree with you.

1025
00:32:21,985 --> 00:32:24,126
I think that this is going to pose

1026
00:32:24,126 --> 00:32:27,186
a great opportunity for buyers and
not so much for people that own

1027
00:32:27,186 --> 00:32:28,960
them, but that's how things go,
you know?

1028
00:32:28,960 --> 00:32:31,587
especially Yeah, people banking on
the income from the So I agree but

1029
00:32:31,686 --> 00:32:31,892
STR.

1030
00:32:31,793 --> 00:32:33,736
that's how things go you know yeah

1031
00:32:33,636 --> 00:32:35,860
yeah especially people banking on
the income from the str so i agree

1032
00:32:35,960 --> 00:32:37,987
yeah what's the best thing you've
ever spent on coaching like

1033
00:32:37,987 --> 00:32:39,740
honestly because like a new idea a
new perspective can open up a

1034
00:32:40,040 --> 00:32:41,453
whole other possibilities that you
didn't even know so i'd say

1035
00:32:41,427 --> 00:32:43,160
coaching and mentoring would be
the thing i spent them you know in

1036
00:32:43,160 --> 00:32:46,420
terms of large ticket small ticket
you know recently i bought this

1037
00:32:46,420 --> 00:32:49,154
cold plunge tub which which I
quite like.

1038
00:32:49,154 --> 00:32:50,440
It was only a couple grand, but it
was like.

1039
00:32:50,480 --> 00:32:52,521
A little steel once?
No, it was basically like a deep

1040
00:32:52,492 --> 00:32:53,587
freeze that a guy converted into.

1041
00:32:53,587 --> 00:32:55,187
Like it's got a pool liner and

1042
00:32:55,143 --> 00:32:58,240
it's wrapped in cedar and it's got
like a timer and like temperature

1043
00:32:58,300 --> 00:32:58,602
gauges.

1044
00:32:58,602 --> 00:32:59,636
And I haven't been electrocuted

1045
00:32:59,636 --> 00:33:00,692
yet, so it's good.

1046
00:33:00,692 --> 00:33:03,163
If I one day be like, oh, he's

1047
00:33:03,163 --> 00:33:03,363
dead.

1048
00:33:03,360 --> 00:33:04,910
He died in this frigging deep

1049
00:33:04,910 --> 00:33:05,040
freeze.

1050
00:33:05,040 --> 00:33:06,858
I always unplug it when I get in

1051
00:33:06,858 --> 00:33:09,260
because I'm like, I have no idea
if this is.

1052
00:33:09,480 --> 00:33:10,637
do Oh, you?
Oh, I'm yeah.

1053
00:33:10,637 --> 00:33:12,094
like like, he just said, unplug
when you get I'm in.

1054
00:33:12,094 --> 00:33:14,397
have like, no idea if this is oh
yeah i'm like like he said just

1055
00:33:14,497 --> 00:33:17,760
unplug when you get in don't worry
it's like let's take how these

1056
00:33:17,760 --> 00:33:20,320
things take off cold plunges right
like uh gym i used to go to like

1057
00:33:20,420 --> 00:33:22,543
everyone seems to have cold
plunges there's new businesses

1058
00:33:22,543 --> 00:33:24,998
when we're talking about downtown
and a global gym i used to go

1059
00:33:24,998 --> 00:33:27,623
there i don't anymore because i
have a home gym but they uh sent

1060
00:33:27,623 --> 00:33:29,756
out this email and said yes guys
don't worry we're getting a cold

1061
00:33:29,756 --> 00:33:34,011
plunge soon man this is just
taking over i this is just taking

1062
00:33:34,011 --> 00:33:37,909
over i should just open up my pool
in the winter and start charging

1063
00:33:38,009 --> 00:33:42,091
cover you come jump in my pool
yeah five bucks yeah no man it's a

1064
00:33:42,091 --> 00:33:44,501
hot chicken item you could
probably cost like 75 bucks i

1065
00:33:44,501 --> 00:33:47,071
looked at what some of them are
like ten thousand dollars like

1066
00:33:47,071 --> 00:33:49,380
some of these tubs i mean they
look fancy but i'm like i don't

1067
00:33:49,300 --> 00:33:53,158
need that like how many bags of of
ISO need to buy to fair.

1068
00:33:53,158 --> 00:33:56,219
What's your favorite charity or
how do you give I like the food

1069
00:33:56,173 --> 00:33:56,420
bank a lot.

1070
00:33:56,420 --> 00:33:57,960
And I like giving money to the

1071
00:33:58,120 --> 00:34:00,203
food bank because the food bank
has like these buying

1072
00:34:00,203 --> 00:34:00,358
arrangements.

1073
00:34:00,458 --> 00:34:02,477
And so they can often get like $5

1074
00:34:02,477 --> 00:34:04,322
or $7 to every one you give them.

1075
00:34:04,322 --> 00:34:06,621
So giving them a can of soup,

1076
00:34:06,621 --> 00:34:10,056
well, that seems great, but like
give them seven bucks and they can

1077
00:34:10,056 --> 00:34:11,804
buy probably like, you know, four
or five cans of soup.

1078
00:34:11,804 --> 00:34:12,101
Yeah.

1079
00:34:12,101 --> 00:34:13,536
And so I like the food bank and

1080
00:34:13,536 --> 00:34:14,032
feeding people.

1081
00:34:14,032 --> 00:34:14,848
Like, I don't know.

1082
00:34:14,848 --> 00:34:17,851
I just, that's the charity that
I've always like, if we do

1083
00:34:17,851 --> 00:34:20,545
anything that's usually to do with
that, I just like it.

1084
00:34:20,545 --> 00:34:21,223
I think it's good.

1085
00:34:21,223 --> 00:34:22,748
can Taylor, I, our listener help

1086
00:34:22,748 --> 00:34:23,996
you or your business?
know, man.

1087
00:34:23,996 --> 00:34:25,059
Just like send business to you
guys.

1088
00:34:25,059 --> 00:34:26,560
Cause you can keep going over what
you're doing.

1089
00:34:26,600 --> 00:34:28,620
Like, so send business to Taylor
mortgages, send you real estate

1090
00:34:28,590 --> 00:34:28,675
deals.

1091
00:34:28,675 --> 00:34:30,234
Like, I think you guys are on the

1092
00:34:30,186 --> 00:34:33,349
front edge of what, you know,
like, as I said, people that are

1093
00:34:33,337 --> 00:34:36,121
in the sales and marketing, you're
going to be at the front edge of

1094
00:34:36,056 --> 00:34:36,257
this.

1095
00:34:36,226 --> 00:34:37,460
So like send you guys business.

1096
00:34:37,719 --> 00:34:38,012
I'm good.

1097
00:34:38,012 --> 00:34:38,839
Like, yeah, I appreciate that.

1098
00:34:38,839 --> 00:34:39,039
Yeah.

1099
00:34:39,033 --> 00:34:39,860
Maybe $20 later.

1100
00:34:39,860 --> 00:34:40,043
Yeah.

1101
00:34:40,043 --> 00:34:40,409
Okay.

1102
00:34:40,409 --> 00:34:41,139
Where's my 20 bucks.

1103
00:34:41,139 --> 00:34:42,114
You guys promised me.

1104
00:34:42,114 --> 00:34:43,059
You're just kidding.

1105
00:34:43,059 --> 00:34:44,960
You can take it in ice cubes.

1106
00:34:44,760 --> 00:34:44,960
Yeah.

1107
00:34:44,800 --> 00:34:45,043
I'll take a couple bags of ours.

1108
00:34:45,007 --> 00:34:45,280
You can jump Taylor's pool if you
want.

1109
00:34:45,167 --> 00:34:46,128
Okay, well, thanks so much for
coming on.

1110
00:34:46,128 --> 00:34:49,520
I mean, I know I get to chat to
you once in a while over Zoom and

1111
00:34:49,520 --> 00:34:53,645
stuff, but, yeah, I haven't ran
into you in a little while.

1112
00:34:53,645 --> 00:34:54,770
for having man.

1113
00:34:54,770 --> 00:34:55,775
me, Appreciate you coming down.

1114
00:34:55,775 --> 00:34:57,361
Yeah, very much appreciate it.

1115
00:34:57,361 --> 00:34:57,770
It's awesome.

1116
00:34:57,770 --> 00:34:57,872
Yeah,