73: Property Management Masterclass - How to Thrive Investing in Rentals with Vantage West's Ezra Cremers

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Welcome back to Colonial Real
Estate Podcast.

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I'm your mortgage broker host,
Taylor Atkinson.

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Atkinson.

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And I'm your real estate agent

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host, Matt Glenn.

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We have a special guest today,

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another real estate agent,
co-host, half host?

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Half host.

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host.

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Half host.

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Blackmailed host for the day.

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Half Yeah.

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But I did get the office.

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So thanks, babe.

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Yeah.

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So Emily is my wife, 2.5 times
returning guest.

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This is a half show for her but
three-time olympian bronze medal

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played on the women's olympic
soccer team so relevant

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information obviously olympics are
going on in paris right now so we

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wanted to bring her on to
commentate a little bit on what's

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been going on with the let's call
it drone scandal with the canada

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women's national soccer team yeah
soccer team yeah yeah pretty crazy

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we got an insider right here
you've given an interview to a few

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other people too right so yeah cbc
reached out i think everyone wants

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some insider info which i given an
out i think everyone wants some

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insider info which i probably
don't have a lot of i do know the

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girls i know bev as well as a
human i've never played for her so

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yeah what do you guys want to know
what What happened from your point

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of view?
i as a from your point of view?

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Okay, so quick rundown.

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If anyone doesn't know, the

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Canadian coaches were caught
filming a closed-door practice

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ahead of the Olympics with a
drone.

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And the pilot actually got
arrested, I think.

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Joey Lombardi, unfortunately, got
arrested by French authorities.

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And the Canadian coaches were sent
home.

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And the team was docked six
points, which is a pretty huge

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punch in the gut when you're
trying to get past the first round

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in the Olympics.

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So can Joey can we just linger on

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this arrested part?
So did he get arrested for the

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spying or for just flying a drone
when he shouldn't have been flying

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a drone at all?
Flying in unauthorized airspace.

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Yeah.

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Yeah.

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So he was arrested by French
authorities, I think.

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And the jail sentence was like a
year, but they reduced it to eight

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months or something crazy like
that.

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So we don't know where Joey is.

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Yeah, that's crazy.

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Yeah.

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Hopefully he's okay.

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Let's hope.

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Yeah.

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Yeah.

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So this has kind of rocked the

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sports world, at least the
Canadian soccer world.

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How has everybody taken it?
I'm imagining the players are

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pretty upset, even though that
they have persevered super well so

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far.

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Yeah, I think everyone was really

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upset.

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I can only imagine how the players

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felt.

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I was devastated to hear it

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because it is pretty insane.

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It's not something that Canada has

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ever done that we knew of.

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So to hear that was happening was

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devastating.

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And I'm sure they felt a billion

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times worse being there and kind
of feeling their Olympic dreams

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slip away from them but yeah
they've obviously responded in the

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best possible way and it's
definitely been quite the story

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it's created some drama around the
team.

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What a cool story in terms of like
adversity you know like they had

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to win every single game other
teams had to lose or tie to get

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them on.

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So, yeah, now they're advanced.

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This show will be coming out after
their next game, right?

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Hopefully they advance.

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And like, yeah, what a cool story.

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So they got docked six points.

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They got the nine points.

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got the nine points.

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They have gotten farther than they

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should have.

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Now, like it's kind of just back

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to a regular tournament.

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They It's really exciting.

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Yeah, they were minus three after
winning the first game.

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And then they had to win against
France, which France is like one

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of the best teams in the world.

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And so yeah, they scored in the

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last minute.

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I actually cried after they

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scored.

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I had real tears coming down my

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face.

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I was so emotional.

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And then And then yeah, they beat
Colombia.

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So they're past that.

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And I imagine that there's still

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chips to fall in this whole saga
with the spying situation.

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The story isn't totally finished
yet.

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It's isn't totally finished yet.

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It's crazy, yeah.

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Honestly, I think there'll be more
that comes out in the future after

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some investigations are done.

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But it is pretty wild.

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Bev, as a human, is, I know, a
very good human.

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As a coach, she probably made some
very bad decisions some shocking

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ones so yeah we'll see kind of
where it started i guess it's

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funny when canada appealed they
when canada appealed they appealed

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the points but they didn't appeal
any of the suspensions or anything

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like that yeah i don't think
they're quite ready that yeah i

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don't think they're quite ready to
forgive just yet i thought that

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yet i thought that was notable you
know like to do that like listen

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yeah we fucked it but yeah let's
not punish yeah the players here

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so i thought yeah ultimately i
think it brought them together

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like Like yeah ultimately i think
it brought them together like Like

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when their backs are against the
wall, the only thing you can do is

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either come together or break
apart and they came together.

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So yeah, it's been pretty cool to
watch actually.

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Yeah, this dovetails super well
with our guest today, Ezra

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Creamers, who is a property
manager at Vantage West and very

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involved in the soccer, which I
did not know until we started

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talking.

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Yeah, so that's actually how I met

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him through the Best of Kelowna,
Kelowna now event.

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Emily was there, you know, these
two start chatting soccer,

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football, whatever the Dutchies
call it.

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And I thought, wow, this guy's
pretty charismatic and he manages

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300 properties.

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We got to get him on the show.

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So yeah.

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Awesome guests, like super high

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energy, really loved having him
on.

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He does some amazing things in the
real estate and the rental pool

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market, but his true passion lies
in soccer.

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So he's actually started a full
blown soccer academy here.

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And we've heard it's kind of like
the Mighty Ducks verse, I don't

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know, whoever the Mighty Ducks
play when they walk in and they're

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like black jerseys and they're
just like quipped.

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So yeah, kudos to you to start in
a football league in Kelowna

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that's getting a pretty good
reputation.

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a pretty good reputation.

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Yeah.

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Also, okay, another little
dovetail here is we have exciting

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news because of this podcast and
probably only because of this

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podcast.

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Government has changed the rules

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from the four-month notice for the
tenant evictions to three months

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notice because of people like
Taylor not being able to hold

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their approval rates for longer
than 120 days or whatever the four

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months was.

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So because of that, the government

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has caved a little.

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And instead of increasing the

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notice the tenant gets to evict
from two months to four months,

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it's only going from two months to
three months.

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Actually, it's going from two
months to four months back to

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three months.

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Which is Which is great, which is

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great news.

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great news obviously it has to

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happen but it just shows how like
crazy it's been for the last year

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for i know this podcast has really
taken off yeah good job good job

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guys thank you for your service
yeah we're gonna show we're gonna

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show a few weeks ago yeah all the
legislation was there the rules

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were there it was already approved
and then weeks later they change

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it so we have to change our intro
and highlight this stuff.

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So yeah, we really got to be on
our A game here.

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We'll send them the bill.

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the bill.

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Yeah.

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What else can you change next?

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Taylor and I will get together in
our lair and we'll come up with

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something crazy.

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Yeah, the 30-year AMS, which also

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because of this podcast, CMHC
Financing, right Taylor?

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Yeah, we have highlighted longer
advertisements for a while.

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I think it is a good program.

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It's really not applicable to too

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many people in the market, but
it's a move in the right

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direction.

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So yeah, worth looking into for

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sure.

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I think there's a lot of new

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benefits for first time home
buyers with property transfer tax,

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a slide in scale going up, first
home savings account, 30 year AMs

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for new builds.

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So yeah, they are trying to make

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it a little bit more affordable.

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But in terms of this show and

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rental properties, I loved Ezra's
answer.

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He was straight to the point.

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Any questions, he just laid it out

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there.

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He was confident about it.

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I think everyone's going to love
this show.

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So if you're looking to use a
professional manager, reach out to

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him, whether he's your guy or not.

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I think he's a great guy, a great

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resource and definitely worth
having a chat to.

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Or if you want to get involved in
Kelowna footballers, Kelowna

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soccer.

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Right.

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Yeah.

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And he's got his own podcast about

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soccer.

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So what's his podcast?

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Ezra's Ezra's house.

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I think he calls it.

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It seems like he's gaining some
traction on that front too.

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So yeah, man, this guy does it
all.

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He's all over the place.

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So Matt, you should put Julian in

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Kelowna city Matt, you should put
Julian in Kelowna city FC.

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I think they started like a year
and a half.

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They do.

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Our neighbors are doing it.

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I think Julian is a little too
young, but this show, like every

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show is sponsored by, do you know
who sponsored the show, Emily?

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I do, Matt.

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I think it's Century 21 Assurance

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Realty.

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Yes, it is.

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Century 21 Assurance Realty, the
best brokerage in town, the only

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Century 21 in the central North
Okanagan now, which is kind of

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exciting.

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I'm an agent there.

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Emily is an agent there.

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We both love it.

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If you need an agent, call me.

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Don't call Matt.

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Just kidding.

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Yeah, or if you're an agent

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looking to change brokerages, call
me, call Emily, call Max, call

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Dean.

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Love to talk Call to you call Max,

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Dean.

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about coming over, but enjoy the

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show.

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This is a really Love to talk to

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you about coming but enjoy the
show.

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over, good one.

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This is a really good one.

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welcome to the Kelowna Real Estate
Ezra.

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Hey, Podcast, Thanks for joining
man.

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us, us, thanks for having Hey, me.

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It's nice to be in some air

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conditioning.

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Don't get me wrong.

255
00:07:48,743 --> 00:07:51,318
I love but jump on a call and have
a chat.

256
00:07:51,318 --> 00:07:52,877
Kelowna, Just appreciate you
having me here.

257
00:07:52,977 --> 00:07:54,390
today is only like 30.

258
00:07:54,490 --> 00:07:56,620
Well, It's been like 39 for the

259
00:07:56,620 --> 00:07:57,559
last month, feels like.

260
00:07:57,559 --> 00:07:57,911
man.

261
00:07:58,011 --> 00:08:01,478
Oh, I run at 530 in the morning on
Monday, and I swear to God, it was

262
00:08:01,279 --> 00:08:01,500
32 degrees.

263
00:08:01,431 --> 00:08:03,408
And I was like, it is cooler

264
00:08:03,308 --> 00:08:03,840
today, so we'll take it.

265
00:08:03,730 --> 00:08:03,840
What's a perfect Friday look like

266
00:08:03,799 --> 00:08:03,840
for you there, Ezra?
Not working?

267
00:08:04,071 --> 00:08:05,553
Nah, I'm just teasing you.

268
00:08:05,553 --> 00:08:10,229
So, I schedule stack heavily.

269
00:08:10,183 --> 00:08:10,240
I've got a couple coaches
personally.

270
00:08:10,260 --> 00:08:11,580
I have my morning meetings on
Fridays.

271
00:08:11,558 --> 00:08:12,843
Like, that's really key.

272
00:08:12,815 --> 00:08:14,821
I chime in to my teams from there.

273
00:08:14,782 --> 00:08:18,076
Usually, Friday afternoon, kids
are off at 2.30 and planning the

274
00:08:18,032 --> 00:08:18,080
weekend, which is usually out in
the bush somewhere.

275
00:08:18,110 --> 00:08:20,900
But Friday is a nice day where I'm
really just having executive

276
00:08:20,887 --> 00:08:23,987
meetings and then flying off into
the weekend because there's

277
00:08:24,005 --> 00:08:25,203
nothing like beating the Friday
weekend warrior traffic where if

278
00:08:25,203 --> 00:08:27,475
you leave at two o'clock, it's a
lot easier than 4.30.

279
00:08:27,375 --> 00:08:27,496
Yeah.

280
00:08:27,496 --> 00:08:28,523
What is your role?

281
00:08:28,523 --> 00:08:31,437
Like what's your title?
What do you do for a profession?

282
00:08:31,437 --> 00:08:32,836
Yeah, that's a great point.

283
00:08:32,836 --> 00:08:34,669
I would say, you know, I oversee

284
00:08:34,669 --> 00:08:37,960
multiple businesses is really in
the end with a major focus on

285
00:08:38,320 --> 00:08:40,477
property management and then
dabbling into real estate where I

286
00:08:40,477 --> 00:08:43,250
do mainly referrals just to really
help my owners to achieve their

287
00:08:43,250 --> 00:08:45,364
goals rather than just talking
property management.

288
00:08:45,264 --> 00:08:48,065
I can now talk real estate and
have a professional opinion.

289
00:08:48,065 --> 00:08:51,223
And then over the last year, a
passion project being owner of

290
00:08:51,223 --> 00:08:53,940
Kelowna City Football Club, which
is a cradle to grave football club

291
00:08:53,940 --> 00:08:56,919
affiliated with where I used to
play as a kid, the Vancouver

292
00:08:56,894 --> 00:08:57,200
Whitecaps.

293
00:08:57,200 --> 00:09:00,015
So that's been a project that has

294
00:09:00,015 --> 00:09:01,416
taken up a little bit of time.

295
00:09:01,416 --> 00:09:04,140
And now as I head to the summer,

296
00:09:04,140 --> 00:09:05,940
focusing mainly on property
management, dabbling in the real

297
00:09:05,940 --> 00:09:07,087
estate and the football world.

298
00:09:06,987 --> 00:09:07,943
I love it, man.

299
00:09:07,843 --> 00:09:11,384
Well, that's how you and I kind of
met is through Emily and then

300
00:09:11,384 --> 00:09:11,922
through Bessa Colonna.

301
00:09:11,922 --> 00:09:15,045
And yeah, it was good to meet you.

302
00:09:15,045 --> 00:09:19,098
You can tell you got a ton of
passion with all three of those

303
00:09:19,098 --> 00:09:19,540
topics.

304
00:09:19,540 --> 00:09:21,323
Can we just dive straight into

305
00:09:21,323 --> 00:09:24,460
property management to start with?
There's a lot of BC tenancy

306
00:09:24,460 --> 00:09:26,437
changes, but what's your portfolio
look like?

307
00:09:26,437 --> 00:09:28,222
Like how many people are on your
team?

308
00:09:28,222 --> 00:09:31,437
Kind of how'd you get into it?
Yeah, well put.

309
00:09:31,437 --> 00:09:34,764
So I'm from Nanaimo and South
Nanaimo to be very clear.

310
00:09:34,764 --> 00:09:37,323
And what happened was I bought my
first property in Kelowna,

311
00:09:37,223 --> 00:09:37,699
actually, 2003.

312
00:09:37,699 --> 00:09:39,127
That was the time during the

313
00:09:39,127 --> 00:09:39,306
fires, actually.

314
00:09:39,306 --> 00:09:40,459
I bought in Black Mountain,

315
00:09:40,459 --> 00:09:42,831
couldn't buy the property because
we couldn't get fire insurance and

316
00:09:42,831 --> 00:09:44,516
was a homeowner.

317
00:09:44,516 --> 00:09:45,826
You know, I'm a first generation

318
00:09:45,826 --> 00:09:46,326
Canadian.

319
00:09:46,326 --> 00:09:47,617
My parents are very hard

320
00:09:47,595 --> 00:09:47,818
Europeans.

321
00:09:47,718 --> 00:09:48,698
And at that age, they said, hey,

322
00:09:48,698 --> 00:09:49,790
get in the market, buy your
property.

323
00:09:49,768 --> 00:09:52,405
Why rent when you could buy?
And at that time, you know,

324
00:09:52,305 --> 00:09:54,346
$199,000, buy with a buddy and
have a mortgage of $500 each.

325
00:09:54,346 --> 00:09:56,540
You're like, giddy up, let's head
to Big White.

326
00:09:56,540 --> 00:10:00,308
So, you know, that's where I got a
taste of lifestyle and obviously

327
00:10:00,308 --> 00:10:01,197
real estate.

328
00:10:01,097 --> 00:10:02,726
Eventually went back to Nanaimo in

329
00:10:02,726 --> 00:10:04,479
Victoria, went to school at
University of Victoria, played

330
00:10:04,479 --> 00:10:04,847
soccer there.

331
00:10:04,847 --> 00:10:06,503
I left Nanaimo again just to kind

332
00:10:06,603 --> 00:10:08,772
of gallivant in the soccer world,
traveling the world, specifically

333
00:10:08,772 --> 00:10:08,895
Holland.

334
00:10:08,895 --> 00:10:11,365
And I rented my place out.

335
00:10:11,365 --> 00:10:17,070
And my dad was very much look a
man and a woman in the eye and

336
00:10:17,170 --> 00:10:17,861
shake their hand.

337
00:10:17,861 --> 00:10:19,491
And my first tenancy agreement was

338
00:10:19,491 --> 00:10:20,502
a handshake in 2007.

339
00:10:20,502 --> 00:10:22,334
All worked out well because of

340
00:10:22,334 --> 00:10:22,395
relationships.

341
00:10:22,495 --> 00:10:24,655
But over time in my businesses, I

342
00:10:24,755 --> 00:10:27,342
just realized as I kind of
evolved, I loved houses.

343
00:10:27,342 --> 00:10:28,074
I joke around.

344
00:10:28,174 --> 00:10:29,540
It's because of my Dutch blood.

345
00:10:30,040 --> 00:10:33,082
We like to be nosy, right?
We like to look at people's

346
00:10:33,082 --> 00:10:35,446
houses, right?
And in 2019, I have a colleague.

347
00:10:35,446 --> 00:10:37,941
She's a mentor of mine, Lindsay
Anderson, and she works for

348
00:10:37,841 --> 00:10:41,386
Vantage and got me in touch with
this guy named AJ Hazzy, sold

349
00:10:41,386 --> 00:10:44,139
myself in a 28 minute meeting that
I can do this.

350
00:10:44,039 --> 00:10:48,440
And here I am over the last four
or five years, I have a portfolio

351
00:10:48,580 --> 00:10:50,043
of just under 300 properties.

352
00:10:50,043 --> 00:10:52,177
I have a team of four unlicensed

353
00:10:52,177 --> 00:10:52,306
people.

354
00:10:52,306 --> 00:10:54,440
I also have a full-time licensed

355
00:10:54,560 --> 00:10:57,658
person and really just learn the
ropes through experience and

356
00:10:57,658 --> 00:10:58,845
obviously being mentored by
Lindsay and AJ.

357
00:10:58,845 --> 00:10:59,261
Here I am.

358
00:10:59,261 --> 00:11:00,566
I feel over the last five, six

359
00:11:00,566 --> 00:11:04,260
years and then personal knowledge
over the last 20 has put me into

360
00:11:04,860 --> 00:11:07,570
this position to really help out
an owner.

361
00:11:07,470 --> 00:11:10,492
You know, I'm not trying to be
cheesy in sales, but once you

362
00:11:10,492 --> 00:11:12,790
really get into something and with
my background of competitive

363
00:11:12,790 --> 00:11:16,010
soccer, I have this obsession that
if I'm going to do something, do

364
00:11:16,010 --> 00:11:19,058
it all in or not at all.

365
00:11:19,058 --> 00:11:20,074
And here we are.

366
00:11:20,074 --> 00:11:21,460
a That's funny.

367
00:11:21,580 --> 00:11:23,289
When I bought my first rental

368
00:11:23,389 --> 00:11:25,893
property, Evan Good helped me and
Lindsay Anderson helped me.

369
00:11:25,893 --> 00:11:26,763
Lindsay is awesome.

370
00:11:26,763 --> 00:11:28,661
I can vote for everything you're

371
00:11:28,661 --> 00:11:29,136
saying.

372
00:11:29,136 --> 00:11:29,373
She's fantastic.

373
00:11:29,373 --> 00:11:32,522
Just had a chat with her and she
says hello because it's a small

374
00:11:32,522 --> 00:11:33,230
world in Kelowna.

375
00:11:33,230 --> 00:11:35,098
And I was in an office with her

376
00:11:35,098 --> 00:11:40,228
for my first two years and it was
the best possible situation to set

377
00:11:40,228 --> 00:11:43,034
myself up for success and a lot of
laughter.

378
00:11:43,034 --> 00:11:45,527
a to Yeah, I gotta ask it.

379
00:11:45,527 --> 00:11:47,580
Like, how do you have all your

380
00:11:47,880 --> 00:11:48,460
hair?
Like 300 units?

381
00:11:48,620 --> 00:11:50,824
You know, most people struggle
with like a couple units.

382
00:11:50,824 --> 00:11:53,167
How do you mitigate the stress on
it?

383
00:11:53,167 --> 00:11:54,253
Your phone?
Yeah, you know what?

384
00:11:54,253 --> 00:11:55,600
It's a great point.

385
00:11:55,600 --> 00:11:56,636
Yeah, you know what?

386
00:11:56,736 --> 00:11:57,521
It's a great point.

387
00:11:57,521 --> 00:11:58,822
You know, I am getting a little

388
00:11:58,822 --> 00:11:59,655
bit of gray here.

389
00:11:59,655 --> 00:12:00,280
I giggled.

390
00:12:00,280 --> 00:12:03,611
But number one, I think that's
very key for everyone that there

391
00:12:03,611 --> 00:12:04,465
is stress in property management.

392
00:12:04,565 --> 00:12:05,620
There is risk.

393
00:12:05,620 --> 00:12:07,894
There's none of this sugarcoating,
hey, especially with the numbers

394
00:12:07,894 --> 00:12:09,360
that we do, it's inevitable.

395
00:12:09,349 --> 00:12:10,297
And it's all about mitigating

396
00:12:10,397 --> 00:12:10,823
risk.

397
00:12:10,723 --> 00:12:11,955
I think for I for myself,

398
00:12:11,955 --> 00:12:14,200
personally, being in the nonprofit
amateur soccer industry, set

399
00:12:14,200 --> 00:12:15,780
myself up for dealing with
adversity, politics, problems.

400
00:12:16,060 --> 00:12:18,309
So for me, personally, that really
set the stage of adversity is

401
00:12:18,309 --> 00:12:20,593
nothing new in regards to dealing
with it, just through kind of

402
00:12:20,593 --> 00:12:21,858
growing up through that industry.

403
00:12:21,858 --> 00:12:23,544
And in the end, it's all about,

404
00:12:23,544 --> 00:12:25,371
you know, not jumping to
conclusions.

405
00:12:25,371 --> 00:12:27,900
It's very important to have
processes and policies in place.

406
00:12:18,528 --> 00:12:29,594
And even my phone, I have a team
line.

407
00:12:29,494 --> 00:12:30,335
I don't have a direct line.

408
00:12:30,306 --> 00:12:33,131
If you are going to grow to more

409
00:12:33,131 --> 00:12:35,180
than 30 properties, let's say,
building that infrastructure is

410
00:12:35,180 --> 00:12:37,780
very, very important to success of
your owners and tenants.

411
00:12:37,592 --> 00:12:37,860
We represent owners, but we want
happy tenants and we want really

412
00:12:37,880 --> 00:12:38,136
strong relationships.

413
00:12:38,136 --> 00:12:38,393
Yeah.

414
00:12:38,393 --> 00:12:39,343
Yeah, that's a great point.

415
00:12:39,343 --> 00:12:40,420
I mean, if you're not focused on

416
00:12:40,560 --> 00:12:43,231
keeping the tenant happy, it's not
going to be a good situation.

417
00:12:43,231 --> 00:12:46,731
It makes everything way everything
way easier when you have a good

418
00:12:46,631 --> 00:12:47,041
relationship.

419
00:12:47,041 --> 00:12:49,210
Like, honestly, I preach this all

420
00:12:49,210 --> 00:12:52,091
the time because it's just, if
they start digging in their heels,

421
00:12:52,091 --> 00:12:52,995
it's over.

422
00:12:53,095 --> 00:12:53,657
It's so key.

423
00:12:53,657 --> 00:12:59,142
And I tell owners that all the
time that it's so easy to kind of

424
00:12:59,142 --> 00:13:04,294
have your nose up at tenants, you
know, the bourgeoisie and that

425
00:13:04,194 --> 00:13:05,162
sort of mentality.

426
00:13:05,162 --> 00:13:06,726
And you just can't, especially

427
00:13:06,726 --> 00:13:08,140
under British Columbia law.

428
00:13:08,140 --> 00:13:09,551
And again, people could be like,

429
00:13:09,551 --> 00:13:12,060
oh, you're obviously kind of, you
know, biased towards ownership,

430
00:13:12,060 --> 00:13:12,720
but it's true.

431
00:13:12,720 --> 00:13:14,460
You know, let's go to Alberta and

432
00:13:14,460 --> 00:13:16,267
learn about their law.

433
00:13:16,267 --> 00:13:17,929
You know what I mean?

434
00:13:17,929 --> 00:13:18,844
Compared to ours.

435
00:13:18,844 --> 00:13:20,113
So the relationship is very

436
00:13:20,113 --> 00:13:21,467
important on behalf of the owner.

437
00:13:21,467 --> 00:13:23,455
And I say that I go, I love all

438
00:13:23,455 --> 00:13:23,598
tenants.

439
00:13:23,598 --> 00:13:24,311
They're good people.

440
00:13:24,411 --> 00:13:29,160
And even when they're wrong or not
doing what's right, giving them

441
00:13:29,160 --> 00:13:33,031
that respect will in the end help
the owners achieve their goal,

442
00:13:33,031 --> 00:13:36,560
even if it is the worst case
scenario like eviction.

443
00:13:37,300 --> 00:13:39,806
And I'm proud to say the amount of
properties I have and how long

444
00:13:39,806 --> 00:13:41,694
I've been in the business, you
know, I'm knocking on wood right

445
00:13:41,667 --> 00:13:42,100
now.

446
00:13:42,100 --> 00:13:43,645
I've never had to use that worst

447
00:13:43,645 --> 00:13:46,200
case scenario, bailiff, dog, the
bounty hunter, for example.

448
00:13:46,480 --> 00:13:48,800
I attest it to respecting people
even when sometimes they don't

449
00:13:48,800 --> 00:13:49,335
deserve it.

450
00:13:49,335 --> 00:13:51,562
You've never had to use a bailiff

451
00:13:51,562 --> 00:13:54,309
on all those properties never oh
my god i've been close but that

452
00:13:54,309 --> 00:13:56,851
also goes back to when you respect
people keeping open lines of

453
00:13:56,751 --> 00:14:00,480
communication so what i teach and
you know one day i could i see

454
00:14:00,480 --> 00:14:04,245
myself because i used to coach
soccer do i want to coach property

455
00:14:04,145 --> 00:14:07,967
managers i don't know but i do
feel that there's a very important

456
00:14:07,867 --> 00:14:10,341
piece where as the adversity goes
up, you change your communication

457
00:14:10,441 --> 00:14:10,697
lines.

458
00:14:10,597 --> 00:14:12,200
If you start hiding behind text

459
00:14:12,200 --> 00:14:14,700
messages and emails, I call them
the grenades, right?

460
00:14:14,700 --> 00:14:15,563
Grenade, close the laptop.

461
00:14:15,663 --> 00:14:16,758
No, you get on the phone.

462
00:14:16,858 --> 00:14:20,700
And if it's even more serious, I'm
going to knock on your door and

463
00:14:20,700 --> 00:14:24,014
let's have the old school chat
that is now, in my opinion, the

464
00:14:24,014 --> 00:14:26,241
nuanced service that people want
and you deserve.

465
00:14:26,141 --> 00:14:26,409
Yeah.

466
00:14:26,409 --> 00:14:28,153
I think it is just about relating

467
00:14:28,153 --> 00:14:30,592
to that person too, right?
Like just knocking the door,

468
00:14:30,592 --> 00:14:32,304
handshake, be like, you know, I
understand where you're coming

469
00:14:32,299 --> 00:14:33,518
from, but this is the situation.

470
00:14:33,518 --> 00:14:34,990
How much of a property manager's

471
00:14:34,990 --> 00:14:38,394
job is talking down the owner too?
Like not talking down, but like

472
00:14:38,394 --> 00:14:40,257
kind of putting things in
perspective.

473
00:14:40,257 --> 00:14:42,983
Yeah, it's so true because every
owner is different.

474
00:14:42,983 --> 00:14:46,081
And so many owners, if you have an
emotional attachment to your

475
00:14:46,081 --> 00:14:49,360
property, and I want the property
back, like when I gave it away,

476
00:14:49,360 --> 00:14:53,014
and that education and what I call
in our onboarding of what's normal

477
00:14:53,014 --> 00:14:56,573
wear and tear, what does the law
say is a very key piece of setting

478
00:14:56,573 --> 00:14:59,806
up because I do feel there's a lot
of owners out there that don't

479
00:14:59,806 --> 00:15:02,751
quite like the game, which is BC
law and all the above and

480
00:15:02,751 --> 00:15:04,425
educating owners, even real estate
agents.

481
00:15:04,425 --> 00:15:07,801
This is to shut out to you guys.

482
00:15:07,701 --> 00:15:09,853
You know, you want the sale, but I

483
00:15:09,853 --> 00:15:13,603
feel it would be very important to
have a licensed property manager

484
00:15:13,603 --> 00:15:15,517
in your back pocket that if
they've never been an investor,

485
00:15:15,517 --> 00:15:17,234
call it the mom and pop investor.

486
00:15:17,234 --> 00:15:18,773
They really need to have that half

487
00:15:18,773 --> 00:15:22,204
an hour consult that is this for
them, because if they're a person

488
00:15:22,204 --> 00:15:25,058
that can't handle a bit of risk
and adversity or scratches on the

489
00:15:25,058 --> 00:15:28,071
wall, I do have to have those very
frank discussions with owners.

490
00:15:28,071 --> 00:15:30,804
And they can be very challenging
because, you know, some people

491
00:15:30,904 --> 00:15:33,793
don't like what the law has to
say, but that's the law, that's

492
00:15:33,793 --> 00:15:34,062
the game.

493
00:15:34,062 --> 00:15:35,673
So if you're going to play the

494
00:15:35,673 --> 00:15:36,614
game, you know, understand it.

495
00:15:36,569 --> 00:15:39,016
And when it happens, you know, go

496
00:15:39,016 --> 00:15:41,277
for it rather than being
emotionally upset over it.

497
00:15:41,277 --> 00:15:44,169
And that's a huge words of wisdom
to real estate agents, helping

498
00:15:44,169 --> 00:15:46,905
those owners long term, not just
getting a quick sale.

499
00:15:46,905 --> 00:15:46,974
Yeah.

500
00:15:46,974 --> 00:15:47,250
Yeah.

501
00:15:47,250 --> 00:15:50,012
Well, what's changed in the last
couple of months for BC tenancy

502
00:15:50,012 --> 00:15:52,839
then?
Can we just kind of review it and

503
00:15:52,839 --> 00:15:53,758
dig into this?
Yeah, absolutely.

504
00:15:53,758 --> 00:15:53,970
Yeah, absolutely.

505
00:15:53,970 --> 00:15:55,958
So you've seen over and, you know,

506
00:15:55,958 --> 00:15:57,205
hey, I'm a history, political
science dropout student.

507
00:15:57,205 --> 00:16:00,575
But in the end, we all know
there's a little bit of politics

508
00:16:00,575 --> 00:16:01,773
going on here in votes.

509
00:16:01,773 --> 00:16:02,619
in votes.

510
00:16:02,719 --> 00:16:04,100
That's a personal statement.

511
00:16:04,200 --> 00:16:05,635
You could probably poke holes in

512
00:16:05,635 --> 00:16:05,765
that.

513
00:16:05,765 --> 00:16:07,880
But in the end, as of July 18th,

514
00:16:07,780 --> 00:16:11,187
how do you get rid of someone that
doesn't deserve to be gone, i.e.,

515
00:16:11,187 --> 00:16:13,762
you know, not paying rent and
those sorts of things?

516
00:16:13,762 --> 00:16:15,482
not paying rent and those sorts of
things.

517
00:16:15,482 --> 00:16:18,497
And what people have been using is
what's called the 13.1 clause

518
00:16:18,497 --> 00:16:21,738
landlord use of property, where
someone moves in or your mom or

519
00:16:21,738 --> 00:16:25,173
dad or sister or brother or
something like that, where it's a

520
00:16:25,173 --> 00:16:27,479
two months notice one month
compensation, you've got to stay

521
00:16:27,479 --> 00:16:30,114
there for six months in good
faith.

522
00:16:30,014 --> 00:16:33,967
Let's make sure I state that and
we can always go back to what is

523
00:16:33,967 --> 00:16:34,306
good faith.

524
00:16:34,306 --> 00:16:35,494
In the end, the government has

525
00:16:35,494 --> 00:16:38,213
doubled down and now made that a
four month notice, one month

526
00:16:38,313 --> 00:16:38,627
compensation.

527
00:16:38,527 --> 00:16:40,290
Someone needs to stay there, not

528
00:16:40,290 --> 00:16:42,042
six months, but 12 months.

529
00:16:42,042 --> 00:16:44,786
And the person or the owner needs

530
00:16:44,786 --> 00:16:47,859
to go into a government registry
and put in a whole bunch of

531
00:16:47,959 --> 00:16:48,404
details.

532
00:16:48,304 --> 00:16:50,464
I haven't done it yet because it's

533
00:16:50,464 --> 00:16:54,733
hot off the press as of six days
ago to state who's there, all the

534
00:16:54,733 --> 00:16:57,097
above above where it's really just
holding the owners more

535
00:16:57,097 --> 00:17:00,503
accountable to the ones that i
call are trying to pull a fast one

536
00:17:00,503 --> 00:17:03,776
well what family member what about
this and i don't think it's

537
00:17:03,776 --> 00:17:06,986
rampant in the industry it's the
bad apple ruining it for everyone

538
00:17:06,986 --> 00:17:10,500
i agree with that i agree it for
everyone i agree with that i agree

539
00:17:10,500 --> 00:17:13,201
right it's not everybody you it's
not everybody you know there are

540
00:17:13,300 --> 00:17:15,530
very classic cases, but people
will then just use the card.

541
00:17:15,530 --> 00:17:20,186
Oh, and just to note, too, if a
tenant wants to fight that it's 30

542
00:17:20,186 --> 00:17:21,164
days, not 15.

543
00:17:21,164 --> 00:17:24,692
So those are the main keys where

544
00:17:24,692 --> 00:17:26,517
they get an extra couple weeks to
kind of fight it.

545
00:17:26,517 --> 00:17:29,297
Is it going to change everything,
it's going to make people think a

546
00:17:29,297 --> 00:17:29,671
little bit twice.

547
00:17:29,645 --> 00:17:30,977
But the idea is, is to kind of

548
00:17:30,977 --> 00:17:33,928
close off people who are just
being unfaithful and not being in

549
00:17:33,928 --> 00:17:36,035
good faith based on the eviction
process.

550
00:17:36,035 --> 00:17:38,270
Do I think it's going to change
that much?

551
00:17:38,270 --> 00:17:39,760
No, it's not so much the notice.

552
00:17:39,760 --> 00:17:41,639
I think having to fill out the

553
00:17:41,739 --> 00:17:44,613
registry and really be a little
bit more transparent.

554
00:17:44,613 --> 00:17:48,890
I don't want those people to, you
know, do things in bad faith.

555
00:17:48,790 --> 00:17:52,940
But from an investor's point of
view, a bird's eye view, and I

556
00:17:52,940 --> 00:17:56,152
have these chats with people, it
is making investors think twice

557
00:17:56,152 --> 00:17:59,905
about investing in this province
because the red tape is heavy.

558
00:17:59,805 --> 00:18:02,059
And, you know, you could say the
deck of cards are stacked against

559
00:18:02,059 --> 00:18:02,161
you.

560
00:18:02,161 --> 00:18:04,304
And that goes back to, it just

561
00:18:04,204 --> 00:18:07,813
makes it more challenging, but it
also maybe reiterates that you

562
00:18:07,813 --> 00:18:11,641
need a licensed professional if
you're going to get in the game.

563
00:18:11,641 --> 00:18:14,598
And I'm not saying come to me, go
to someone else.

564
00:18:14,598 --> 00:18:18,332
But if you're going to do it
yourself and you don't know the

565
00:18:18,332 --> 00:18:21,392
laws, you could easily get slapped
even when you're in good faith,

566
00:18:21,392 --> 00:18:21,800
because you just didn't know where
I've seen cases where man, 12

567
00:18:21,800 --> 00:18:23,430
month penalty times $3,000 a
month.

568
00:18:22,140 --> 00:18:24,245
where, man, 12-month penalty times
$3,000 a month.

569
00:18:24,245 --> 00:18:28,593
I've seen cases where people have
to pay $36,000 to the tenant only

570
00:18:28,493 --> 00:18:31,498
because they saw it back on
Marketplace and they're going for

571
00:18:31,498 --> 00:18:32,233
the gusto.

572
00:18:32,233 --> 00:18:33,627
And obviously, I'm biased, but I'm

573
00:18:33,627 --> 00:18:34,433
in arbitration cases.

574
00:18:34,433 --> 00:18:36,047
And boy, sometimes I'm like, how

575
00:18:36,047 --> 00:18:38,767
does the tenant get all this when
they didn't even submit their

576
00:18:38,767 --> 00:18:38,883
evidence?
Okay.

577
00:18:38,883 --> 00:18:39,233
Okay.

578
00:18:39,333 --> 00:18:41,388
I have a client that just lost

579
00:18:41,388 --> 00:18:43,537
because he evicted the tenant to
move there himself.

580
00:18:43,437 --> 00:18:46,303
And then he hasn't lived there
enough at the arbitration file.

581
00:18:46,303 --> 00:18:49,273
So he had to pay a year's rent.

582
00:18:49,273 --> 00:18:51,741
So like he did live there.

583
00:18:51,741 --> 00:18:52,770
He just wasn't living there
enough.

584
00:18:52,770 --> 00:18:55,616
So like, and I've even heard cases
when it was six months, people

585
00:18:55,616 --> 00:18:58,606
would be there eight months, but
you weren't there in good faith.

586
00:18:58,606 --> 00:18:58,815
Right.

587
00:18:58,815 --> 00:19:01,391
And how do you debate good faith?

588
00:19:01,391 --> 00:19:03,859
How do you legitimize good faith
where they were there even further

589
00:19:03,859 --> 00:19:07,517
than the law six months?
So in the new law, let's say you

590
00:19:07,517 --> 00:19:11,440
stayed there 14 months, but for
some reason, you couldn't provide

591
00:19:11,440 --> 00:19:15,491
the evidence of good faith, which
one could argue is subjective.

592
00:19:15,491 --> 00:19:20,125
You know, I'm not a lawyer, but I
watched a lot of Law and Order as

593
00:19:20,125 --> 00:19:20,710
a kid.

594
00:19:20,710 --> 00:19:22,171
And obviously, I'm like a lawyer

595
00:19:22,171 --> 00:19:25,790
in arbitration, where that is
super scary, because, you know,

596
00:19:25,790 --> 00:19:29,011
how do you argue that good faith,
and you really need to have your

597
00:19:29,011 --> 00:19:29,820
ducks in a row.

598
00:19:29,820 --> 00:19:30,880
And that's going to investors, you

599
00:19:30,880 --> 00:19:32,850
know, having a very good licensed
professional, not just a

600
00:19:32,850 --> 00:19:34,522
professional that has their
license, someone where you

601
00:19:34,522 --> 00:19:36,618
interview, you know, their
history, you know, they're

602
00:19:36,618 --> 00:19:39,493
serious, that can properly give
you the reassurance to be

603
00:19:39,493 --> 00:19:41,157
successful on your behalf.

604
00:19:41,057 --> 00:19:47,994
So yeah, just a kind of, I don't

605
00:19:47,994 --> 00:19:48,572
know, observation here.

606
00:19:48,572 --> 00:19:49,558
But like the changes that happen

607
00:19:49,501 --> 00:19:51,235
with the tenancy are really all
seem to be about getting the

608
00:19:51,178 --> 00:19:51,628
tenant out.

609
00:19:51,571 --> 00:19:52,713
But like, my point of view, when

610
00:19:52,713 --> 00:19:58,087
you buy a rental property, like
you buy it for the long term, like

611
00:19:57,987 --> 00:20:02,129
when I buy a rental property, or
when I advise my clients, it's not

612
00:20:02,129 --> 00:20:06,404
to hold a rental property for six
months, a year, two years, and

613
00:20:06,404 --> 00:20:07,208
then sell it.

614
00:20:07,208 --> 00:20:09,017
It's to basically hold it forever

615
00:20:09,017 --> 00:20:11,021
and refinance it as it gains
appreciation, right?

616
00:20:11,021 --> 00:20:14,260
So like, do you think we're still
in a good environment to invest

617
00:20:14,260 --> 00:20:15,448
like that?
Yeah, I do.

618
00:20:15,448 --> 00:20:15,703
Absolutely.

619
00:20:15,703 --> 00:20:17,172
I think why this is magnified is

620
00:20:17,172 --> 00:20:19,824
when I started, you know, rent
prices were A, right?

621
00:20:19,824 --> 00:20:21,452
And then they all went up like
40%.

622
00:20:21,452 --> 00:20:23,144
And this is what kind of spiked.

623
00:20:23,144 --> 00:20:26,050
And you know, I don't know when

624
00:20:26,050 --> 00:20:28,273
the government reviewed this, but
governments are historically slow

625
00:20:28,273 --> 00:20:29,270
in policy.

626
00:20:29,270 --> 00:20:29,960
Yeah, right.

627
00:20:29,960 --> 00:20:32,589
So they're reacting to what
happened even two, three years

628
00:20:32,589 --> 00:20:34,671
ago, when everything spiked 30,
40% in rental increases, you know,

629
00:20:34,671 --> 00:20:35,860
in the generalized market.

630
00:20:36,120 --> 00:20:38,109
And they're looking at their place

631
00:20:38,109 --> 00:20:42,513
going, Hey, tenant Dave, you're
paying 1800 and I like you, but I

632
00:20:42,413 --> 00:20:43,375
can now get 2,500.

633
00:20:43,375 --> 00:20:43,444
Right.

634
00:20:43,544 --> 00:20:46,431
And I think this is what started
it all where, you know, now we're

635
00:20:46,331 --> 00:20:49,767
seeing, you know, the market's
gone down a little bit or

636
00:20:49,767 --> 00:20:52,729
corrected itself a little bit, 18,
20%, where now we're really just

637
00:20:52,729 --> 00:20:55,435
in this ebb and flow of the
property management world or the

638
00:20:55,435 --> 00:20:55,873
rental price.

639
00:20:55,773 --> 00:20:57,731
It's still pretty stable over the

640
00:20:57,831 --> 00:20:59,622
last year, except for our seasonal
changes.

641
00:20:59,622 --> 00:21:02,060
So my answer is yes.

642
00:21:02,060 --> 00:21:04,404
We're just seeing a bit of a

643
00:21:04,504 --> 00:21:08,490
reaction to this crazy market of
going up and then reacting where,

644
00:21:08,490 --> 00:21:11,666
you know, nowadays, majority of
new owners specifically and new

645
00:21:11,666 --> 00:21:15,067
investors are saying, okay, yeah,
I'm in it for the long haul.

646
00:21:14,967 --> 00:21:19,264
I just think the saliva of the
owners that have been around for

647
00:21:19,264 --> 00:21:21,726
five plus years, the capitalistic
nature, which in their argument,

648
00:21:21,826 --> 00:21:24,298
my fees have gone up, my mortgage
has gone up all the above.

649
00:21:24,398 --> 00:21:25,870
I really think it's going to
settle out.

650
00:21:25,870 --> 00:21:28,389
And we're going to be more in a
stable market where you're not

651
00:21:28,389 --> 00:21:31,210
going to have screaming tenants
because this is also why this has

652
00:21:31,210 --> 00:21:32,979
occurred because the cost of
living has skyrocketed.

653
00:21:32,979 --> 00:21:33,484
Bottom line.

654
00:21:33,584 --> 00:21:33,773
Yeah.

655
00:21:33,673 --> 00:21:34,874
I guess Bottom line.

656
00:21:34,874 --> 00:21:35,000
Yeah.

657
00:21:35,000 --> 00:21:38,498
I guess on that point, like let's
say if there's more red tape and

658
00:21:38,498 --> 00:21:41,031
maybe it's less incentivized for
investors to buy these properties,

659
00:21:41,031 --> 00:21:43,038
you know, fees are going up for
everyone.

660
00:21:43,038 --> 00:21:46,485
Like as an investor yourself, do
you feel that more rental units

661
00:21:46,385 --> 00:21:49,982
are going to be built for the
average person to say, buy a

662
00:21:50,082 --> 00:21:52,271
secondary condo and rent it out
themselves or through a

663
00:21:52,271 --> 00:21:53,988
professional manager?
Like, is there just going to be

664
00:21:53,988 --> 00:21:57,953
detrimental to the market in terms
of like, there isn't such a rental

665
00:21:57,953 --> 00:22:00,753
market there because we're being
handcuffed as like the

666
00:22:00,753 --> 00:22:03,958
capitalistic point of view?
Yeah, I don't think think so.

667
00:22:04,058 --> 00:22:07,679
Like when it comes to the laws
from the residential tenancy

668
00:22:07,679 --> 00:22:10,975
branch, that's not the concern, in
my opinion, knowing that playing

669
00:22:10,975 --> 00:22:13,461
off your point is I'm here for the
long term.

670
00:22:13,561 --> 00:22:17,988
I'm not here to, you know, have
someone rented and then, you know,

671
00:22:17,888 --> 00:22:20,362
do something in bad faith, because
usually, you know, they're

672
00:22:20,362 --> 00:22:21,422
actually moving in good faith.

673
00:22:21,422 --> 00:22:23,341
I'm just taking my home over.

674
00:22:23,341 --> 00:22:25,988
And that's why it's four months,
one month, and I'm actually going

675
00:22:25,988 --> 00:22:26,576
to live there.

676
00:22:26,576 --> 00:22:28,081
And it's great.

677
00:22:28,081 --> 00:22:31,425
it's four months, one month, and
I'm actually going to live there

678
00:22:31,525 --> 00:22:32,391
and it's great.

679
00:22:32,391 --> 00:22:33,980
What's more concerning is just,

680
00:22:33,980 --> 00:22:37,725
you know, everyone back in the day
could make a little bit of money,

681
00:22:37,725 --> 00:22:39,793
right?
Pay off their mortgage and have a

682
00:22:39,793 --> 00:22:44,425
little bit of a positive cash flow
where that's more of the concern

683
00:22:44,425 --> 00:22:46,686
now where there's a building.

684
00:22:46,586 --> 00:22:47,479
And now I'm talking specifically

685
00:22:47,479 --> 00:22:47,754
Kelowna.

686
00:22:47,854 --> 00:22:49,538
I don't know other areas in the

687
00:22:49,538 --> 00:22:50,156
rental market.

688
00:22:50,156 --> 00:22:52,174
I can only give a couple examples

689
00:22:52,274 --> 00:22:56,576
where what's it going to cost for
you to get in the market?

690
00:22:56,676 --> 00:22:58,818
You know, you can't have that
expectation that you're going to

691
00:22:58,818 --> 00:23:01,380
be cashflow positive or even
cashflow neutral based on 20%

692
00:23:01,380 --> 00:23:01,910
down, for example.

693
00:23:01,910 --> 00:23:03,678
So I think it's more of just

694
00:23:03,678 --> 00:23:06,859
readjusting the picture, what it's
going to cost to get in the market

695
00:23:06,859 --> 00:23:10,690
to buy, you know, more in your
guys's position, but then being

696
00:23:10,690 --> 00:23:12,830
very honest on what is the return
as a rental where, hey, you might

697
00:23:12,830 --> 00:23:16,181
have to pay $500 a month into your
investment, but you're still

698
00:23:16,181 --> 00:23:19,600
paying off your mortgage, all the
above, or you're going to have to

699
00:23:19,600 --> 00:23:23,001
maybe put 30% or 40% down on that
condo to be neutral.

700
00:23:23,001 --> 00:23:26,607
That's more of the concern for me
because a lot of owners come to

701
00:23:26,707 --> 00:23:29,736
me, no offense, real estate
agents, and they come to me and

702
00:23:29,736 --> 00:23:33,101
go, hey, Ezra, real estate agents
said, I could get $2,800 for my

703
00:23:33,101 --> 00:23:34,108
two bedroom, one bath condo on
costed.

704
00:23:34,108 --> 00:23:36,997
And I said, they said that, and
I'm a professional.

705
00:23:36,997 --> 00:23:40,337
So I don't want to be like, well,
he's full of shit.

706
00:23:40,237 --> 00:23:42,849
Part of my, I have to gently tell
them the market reality is 2,200.

707
00:23:42,849 --> 00:23:45,867
And then they don't like me
because I'm very direct and

708
00:23:45,967 --> 00:23:46,418
honest.

709
00:23:46,318 --> 00:23:48,013
And obviously dislike is a strong

710
00:23:48,013 --> 00:23:50,273
word, but I have to gently let
them know that the market isn't

711
00:23:50,373 --> 00:23:51,176
2,800, it's 2,200.

712
00:23:51,176 --> 00:23:53,041
And then they go, but my mortgage

713
00:23:53,041 --> 00:23:55,061
is going up in a couple months.

714
00:23:54,961 --> 00:23:56,925
And now that 5,600 is this.

715
00:23:56,825 --> 00:23:58,281
So it's not doom or gloom.

716
00:23:58,181 --> 00:23:59,806
I think it's very important for

717
00:23:59,706 --> 00:24:02,066
real estate agents with their
investor clients to really either

718
00:24:01,966 --> 00:24:04,624
do their research in rentals or
align themselves with a property

719
00:24:04,624 --> 00:24:05,437
manager and really have a
three-way discussion.

720
00:24:05,437 --> 00:24:07,305
I have several real estate agents
that work with me to say, hey, I'm

721
00:24:07,305 --> 00:24:07,968
not here to take your client.

722
00:24:07,968 --> 00:24:08,967
I'm not here to do that.

723
00:24:08,967 --> 00:24:11,947
I want them proactive and set up
for success based on the reality,

724
00:24:11,947 --> 00:24:13,742
not what you told them three
months ago.

725
00:24:13,742 --> 00:24:17,211
And now they're like, the not what
reality, you told them three

726
00:24:17,211 --> 00:24:18,424
months And now they're ago.

727
00:24:18,424 --> 00:24:19,381
this like, burns.

728
00:24:19,381 --> 00:24:20,612
Ooh, And now they're ago.

729
00:24:20,612 --> 00:24:21,911
this like, burns.

730
00:24:21,911 --> 00:24:22,390
Ooh, Yeah.

731
00:24:22,390 --> 00:24:23,002
Yeah, for sure.

732
00:24:23,002 --> 00:24:26,968
So to go back into the change in
laws, we'll just wipe out like the

733
00:24:26,968 --> 00:24:30,464
investor conversation, but in
terms and of, this you is, know,

734
00:24:30,464 --> 00:24:33,593
part of Matt's conversation too,
when people are going to sell a

735
00:24:33,593 --> 00:24:37,109
property, whether it's a rental or
even owner occupied with a

736
00:24:37,109 --> 00:24:39,526
basement suite to have a four
month notice now, how do you

737
00:24:39,526 --> 00:24:42,648
foresee that going?
Like, are there just going to be a

738
00:24:42,648 --> 00:24:43,505
lot of mutual agreements and
tenancy?

739
00:24:43,505 --> 00:24:46,842
And if that's the direction it
goes, like, is there going to be a

740
00:24:46,942 --> 00:24:50,368
more standardized or is that going
to be more acceptable?

741
00:24:50,368 --> 00:24:53,880
Cause I feel like mutual agreement
and tenancy is such a taboo.

742
00:24:53,880 --> 00:24:57,180
Like, Oh, we're going into like
this agreement with the devil.

743
00:24:57,180 --> 00:24:57,441
Yeah.

744
00:24:57,441 --> 00:24:58,420
How does that look?

745
00:24:58,420 --> 00:24:58,551
Yeah.

746
00:24:58,551 --> 00:24:59,007
Yeah.

747
00:24:59,007 --> 00:25:00,508
I would put it this put it this
way.

748
00:25:00,608 --> 00:25:05,008
And I'm, you know, I'm not as a
licensed real estate agent, I do

749
00:25:04,908 --> 00:25:05,697
more referrals.

750
00:25:05,697 --> 00:25:08,144
So I'm not deep down in how that

751
00:25:08,144 --> 00:25:10,906
works with the mortgages and
closing in that period.

752
00:25:10,906 --> 00:25:14,236
I've heard some rumblings that
four months can make things a

753
00:25:14,236 --> 00:25:15,038
little bit more challenging.

754
00:25:15,038 --> 00:25:16,506
So that's out of my wheelhouse,

755
00:25:16,506 --> 00:25:17,225
but absolutely.

756
00:25:17,225 --> 00:25:18,381
I've been doing mutual agreements

757
00:25:18,381 --> 00:25:23,582
for the last five years, and this
is going back to my relationships

758
00:25:23,582 --> 00:25:24,656
and all the above.

759
00:25:24,656 --> 00:25:27,085
And in the end, we call that the

760
00:25:27,085 --> 00:25:29,571
golden ticket, not within the law,
but there's no, let's discuss good

761
00:25:29,571 --> 00:25:29,826
faith.

762
00:25:29,826 --> 00:25:30,852
Let's do this.

763
00:25:30,952 --> 00:25:35,552
It's a reason why I got into a
little bit of real estate because

764
00:25:35,552 --> 00:25:38,839
during that peak of everything
going up, owners and real estate

765
00:25:38,739 --> 00:25:42,036
agents were like, Ezra, you know,
the tenant, you've got a great

766
00:25:42,036 --> 00:25:42,261
relationship.

767
00:25:42,261 --> 00:25:44,554
Can you get this for me?

768
00:25:44,554 --> 00:25:45,005
Right.

769
00:25:45,005 --> 00:25:47,608
And in the end, it is a benefit to

770
00:25:47,608 --> 00:25:48,587
the tenant.

771
00:25:48,587 --> 00:25:50,733
I'm not here to say it's just for

772
00:25:50,733 --> 00:25:53,775
the owners, but then you start
looking at, okay, they know it's

773
00:25:53,775 --> 00:25:55,484
four months, one month, maybe
you're offering two months, maybe

774
00:25:55,484 --> 00:25:57,319
you're offering three months, but
you're working with the tenant.

775
00:25:57,319 --> 00:25:58,818
You're not forcing them to sign.

776
00:25:58,818 --> 00:26:01,238
You know what it says on a mutual

777
00:26:01,238 --> 00:26:02,759
and you're really just working
together.

778
00:26:02,859 --> 00:26:06,012
And in the the end, owner, you're
probably going to have to cough up

779
00:26:05,855 --> 00:26:06,220
some more compensation, but you're
really just working together.

780
00:26:06,198 --> 00:26:12,236
And in the the end, owner, you're
probably going to have to cough up

781
00:26:12,074 --> 00:26:12,238
some more compensation.

782
00:26:12,238 --> 00:26:12,759
But you're getting that very

783
00:26:12,859 --> 00:26:13,343
important document being the
mutual.

784
00:26:13,252 --> 00:26:14,541
And do I foresee more mutual
agreements because of this?

785
00:26:14,477 --> 00:26:14,833
The answer is yes.

786
00:26:14,915 --> 00:26:16,276
And the cynical Dutch blood in me,

787
00:26:16,276 --> 00:26:18,457
I'm really hoping that the
government doesn't think that

788
00:26:18,457 --> 00:26:21,519
that's unethical because that form
is very clear that this is mutual.

789
00:26:21,519 --> 00:26:24,975
And that paragraph on the very top
very much states they don't need

790
00:26:24,975 --> 00:26:26,106
to sign it.

791
00:26:26,106 --> 00:26:27,223
But absolutely, I foresee more

792
00:26:27,223 --> 00:26:27,968
mutual agreements moving forward.

793
00:26:27,968 --> 00:26:29,581
Yeah, uncharted territory for kind

794
00:26:29,581 --> 00:26:31,837
of everything at this point, much
like a lot of the legislation

795
00:26:31,837 --> 00:26:32,800
that's come out this year.

796
00:26:32,800 --> 00:26:34,302
Any other changes you wanted to

797
00:26:34,302 --> 00:26:36,995
highlight for us?
Yeah, you know, this is a big

798
00:26:36,995 --> 00:26:38,572
thing for me is the media.

799
00:26:38,572 --> 00:26:41,412
And I hear a lot of owners of the

800
00:26:41,312 --> 00:26:42,982
doom and gloom and the worst case
scenario.

801
00:26:42,982 --> 00:26:45,112
Even I saw a little perk when you
said, hey, you haven't used a

802
00:26:45,112 --> 00:26:45,403
bailiff before.

803
00:26:45,403 --> 00:26:47,032
And you know, the size of my

804
00:26:47,032 --> 00:26:48,893
portfolio, it's not as bad as you
think, guys.

805
00:26:48,893 --> 00:26:50,630
And I say this to your audience.

806
00:26:50,630 --> 00:26:52,458
You know what, I have over 250

807
00:26:52,458 --> 00:26:52,957
properties.

808
00:26:52,957 --> 00:26:54,063
I have four ongoing arbitration

809
00:26:54,063 --> 00:26:54,726
cases right now.

810
00:26:54,726 --> 00:26:56,357
And I already settled one of them.

811
00:26:56,357 --> 00:26:58,356
Why?
When you hire a proper

812
00:26:58,356 --> 00:27:01,444
professional that works with you,
you don't get into these

813
00:27:01,344 --> 00:27:03,927
situations when you have a good
relationship, good processes, good

814
00:27:03,927 --> 00:27:05,315
experience that owners don't need
to fear.

815
00:27:05,415 --> 00:27:08,228
Yes, there's risk, but it's all
about mitigating that risk through

816
00:27:08,328 --> 00:27:11,163
the application process, through
your legal agreements, and how you

817
00:27:11,163 --> 00:27:11,901
flow out of it.

818
00:27:11,901 --> 00:27:13,562
Like I said, so if I have four

819
00:27:13,562 --> 00:27:15,349
arbitration cases on 250, what is
that?

820
00:27:15,349 --> 00:27:17,399
Like maybe a percent and a half,
maybe.

821
00:27:17,399 --> 00:27:20,808
And I think two of those, I
inherited the tenants because the

822
00:27:20,808 --> 00:27:23,443
owner was doing it on themselves
and they needed some help.

823
00:27:23,543 --> 00:27:26,046
So what I'm trying to say is that
owners, you don't need to be

824
00:27:26,046 --> 00:27:27,946
scared of that worst case
scenario, which I feel the media

825
00:27:27,946 --> 00:27:29,690
never talks about the 99% of good
tendencies.

826
00:27:29,690 --> 00:27:30,975
It's always the bad ones.

827
00:27:31,075 --> 00:27:33,998
And that, you know, if you do it

828
00:27:33,998 --> 00:27:37,800
right and find the good people,
and what I mean by good is just

829
00:27:37,800 --> 00:27:39,932
people who pay rent and keep it
clean and don't do damage.

830
00:27:39,932 --> 00:27:41,293
They're totally out there.

831
00:27:41,393 --> 00:27:42,728
And there's a whole new market now

832
00:27:42,538 --> 00:27:43,435
for what I call professional
tenants who are just not wanting

833
00:27:43,408 --> 00:27:44,762
to get in the current market, or
they're saving up to get in the

834
00:27:44,572 --> 00:27:44,772
market.

835
00:27:44,682 --> 00:27:45,080
There's a plethora of those

836
00:27:45,067 --> 00:27:45,267
people.

837
00:27:45,159 --> 00:27:46,184
And when you buy your property,

838
00:27:46,184 --> 00:27:50,086
find a place that, you know,
that's not just a dirty basement

839
00:27:50,086 --> 00:27:53,548
suite as the stereotype and
something a little bit desirable.

840
00:27:53,548 --> 00:27:55,767
You will find those good people.

841
00:27:55,767 --> 00:27:57,681
Yeah, well, that's a that's a good

842
00:27:57,681 --> 00:27:57,879
point.

843
00:27:57,879 --> 00:28:00,583
What do you find tenants are

844
00:28:00,583 --> 00:28:03,420
looking for right now?
Like, is there a void in the

845
00:28:03,420 --> 00:28:07,520
market where it's like, oh, man, I
do not want a one bedroom condo.

846
00:28:07,520 --> 00:28:11,380
Like, are people looking for a
whole house or a basement suite?

847
00:28:11,380 --> 00:28:14,188
What's kind of hot right now?
Oh now?

848
00:28:14,188 --> 00:28:14,784
Oh yeah.

849
00:28:14,784 --> 00:28:16,032
What is hot and where is the

850
00:28:16,032 --> 00:28:16,992
safest conservative investment
bet?

851
00:28:16,992 --> 00:28:17,192
Studios.

852
00:28:17,184 --> 00:28:18,644
Remember when studios were like,

853
00:28:18,644 --> 00:28:21,369
you can't get a bedroom?
What are you doing?

854
00:28:21,269 --> 00:28:22,308
Now it's the new in thing.

855
00:28:22,308 --> 00:28:23,520
We don't have any stuff, don't

856
00:28:23,760 --> 00:28:24,023
need anything.

857
00:28:24,023 --> 00:28:24,682
It's a safer investment.

858
00:28:24,682 --> 00:28:28,042
And I got to tell you, studios are
running anywhere from $1,300 to

859
00:28:28,042 --> 00:28:28,371
$1,600 plus utilities.

860
00:28:28,371 --> 00:28:29,491
And you know what?

861
00:28:29,491 --> 00:28:31,705
It's a safer investment because of
the price point.

862
00:28:31,605 --> 00:28:33,200
They're more popular because of
the cost of living.

863
00:28:33,200 --> 00:28:35,158
Studios are what I would recommend
to an investor.

864
00:28:35,058 --> 00:28:38,197
You know, if you were saying, hey,
I got got 600,000, I wouldn't get

865
00:28:38,197 --> 00:28:39,225
a two bedroom.

866
00:28:39,225 --> 00:28:42,066
I would go get two studios because

867
00:28:41,966 --> 00:28:43,680
they're only going to be more
popular.

868
00:28:43,780 --> 00:28:47,750
If I was a betting man in the
future, because it's the

869
00:28:47,850 --> 00:28:50,914
affordable and everyone goes,
well, isn't that just for young

870
00:28:50,914 --> 00:28:55,106
people and students dancers?
No, I've got a lot of awesome

871
00:28:55,106 --> 00:28:57,797
working professionals that, you
know, would rather keep money in

872
00:28:57,797 --> 00:28:58,343
their pocket.

873
00:28:58,343 --> 00:29:01,649
They don't need a lot of space.

874
00:29:01,549 --> 00:29:03,572
Kelowna is absolutely beautiful.

875
00:29:03,472 --> 00:29:05,417
So I'm not going to be in my cubby

876
00:29:05,517 --> 00:29:05,815
hole.

877
00:29:05,715 --> 00:29:07,440
I'm going to be all outside and

878
00:29:07,440 --> 00:29:08,451
you're off to the races.

879
00:29:08,451 --> 00:29:10,551
So I do see studios as a huge in

880
00:29:10,551 --> 00:29:13,711
your favor as an investor and
where I would kind of shy away

881
00:29:13,711 --> 00:29:16,930
from, you just got to be a little
bit careful is the two bedroom

882
00:29:16,930 --> 00:29:18,874
condo market, right?
Those are a little bit more

883
00:29:18,874 --> 00:29:20,801
challenging to rent because
there's more dynamics and you're

884
00:29:20,901 --> 00:29:22,653
trying to get a higher price
point.

885
00:29:22,653 --> 00:29:26,859
Well, then you get into roommates
and then you only get one parking

886
00:29:26,859 --> 00:29:30,568
stall and you know, there's a lot
more moving pieces and same with

887
00:29:30,568 --> 00:29:30,805
townhouses.

888
00:29:30,805 --> 00:29:32,309
You know, the townhouse market

889
00:29:32,309 --> 00:29:32,625
fluctuates.

890
00:29:32,625 --> 00:29:34,010
In the peak, I was renting for

891
00:29:34,010 --> 00:29:36,887
3,800 plus utilities and now I've
gone down to 28 to 3,200 plus

892
00:29:36,887 --> 00:29:39,737
utilities where studio suites have
continued to creep up a little

893
00:29:39,737 --> 00:29:39,810
bit.

894
00:29:39,810 --> 00:29:41,695
That is very interesting.

895
00:29:41,695 --> 00:29:42,957
I love your answers, man.

896
00:29:42,957 --> 00:29:44,806
Like I ask a question and you

897
00:29:44,806 --> 00:29:45,582
just, you hammer it.

898
00:29:45,582 --> 00:29:47,934
No offense to Matt and I or anyone

899
00:29:48,034 --> 00:29:51,220
else who's been on the show, but
it's usually, well, yeah, maybe

900
00:29:51,320 --> 00:29:52,109
this, maybe that.

901
00:29:52,109 --> 00:29:52,842
You're committed to it.

902
00:29:52,842 --> 00:29:53,575
Oh, buddy.

903
00:29:53,575 --> 00:29:55,660
I tell you, man, it all comes back

904
00:29:55,760 --> 00:29:56,522
to my past.

905
00:29:56,522 --> 00:29:58,142
I was an old soccer player.

906
00:29:58,042 --> 00:30:00,486
And when a coach said, you need to
juggle to a hundred times, you

907
00:30:00,486 --> 00:30:01,504
just get stuck And in.

908
00:30:01,504 --> 00:30:02,898
I think you, it man, all comes

909
00:30:02,898 --> 00:30:04,182
back to my past.

910
00:30:04,082 --> 00:30:04,888
I was an old soccer player.

911
00:30:04,888 --> 00:30:08,674
And when a coach said, you need to
juggle to 100 times, you just get

912
00:30:08,674 --> 00:30:09,463
stuck And in.

913
00:30:09,463 --> 00:30:10,383
I think you guys know I'm

914
00:30:10,483 --> 00:30:10,811
passionate.

915
00:30:10,711 --> 00:30:12,551
And here we are, you know, I'm not

916
00:30:12,551 --> 00:30:14,065
pissing around.

917
00:30:14,065 --> 00:30:17,065
And I take my job very serious

918
00:30:16,965 --> 00:30:19,822
that, you know, these are big
investments, you know, they're not

919
00:30:19,822 --> 00:30:23,386
the day where, you know, my wife
bought her first condo for 80

920
00:30:23,486 --> 00:30:24,447
grand on KLO.

921
00:30:24,447 --> 00:30:26,726
You know, we're talking hundreds

922
00:30:26,726 --> 00:30:30,257
of 1000s, if not millions of
dollars in executive homes, like,

923
00:30:30,257 --> 00:30:32,996
there needs to be that
seriousness.

924
00:30:32,996 --> 00:30:35,204
And I think I love to have fun.

925
00:30:35,204 --> 00:30:37,056
If anyone knows me personally, I'm

926
00:30:37,056 --> 00:30:37,554
a goofball.

927
00:30:37,554 --> 00:30:40,273
But when I step on the pitch or I

928
00:30:40,273 --> 00:30:42,338
step in the office, it's go time.

929
00:30:42,338 --> 00:30:43,655
And excellence is the only answer.

930
00:30:43,655 --> 00:30:45,849
you need to juggle to 100 I love
it.

931
00:30:45,749 --> 00:30:48,383
Okay, Ezra, I got a question for
you about rent increases.

932
00:30:48,383 --> 00:30:50,743
Because of these harder to get rid
of tenants, for myself and also

933
00:30:50,843 --> 00:30:54,586
for my clients, I've been saying
you should keep up with your

934
00:30:54,586 --> 00:30:54,995
rental increases.

935
00:30:54,995 --> 00:30:57,023
because what's going to happen is

936
00:30:56,923 --> 00:31:00,576
in the few years, you're going to
end up with a condo that you can't

937
00:31:00,576 --> 00:31:02,196
sell because the rent is way under
market.

938
00:31:02,196 --> 00:31:05,176
And also you're getting way under
market rent for your own

939
00:31:05,176 --> 00:31:05,377
investment.

940
00:31:05,377 --> 00:31:07,116
So how much can you raise the rent

941
00:31:07,116 --> 00:31:08,990
in BC?
And what's your advice on that?

942
00:31:08,990 --> 00:31:10,060
Yeah, you know what?
Great point.

943
00:31:10,060 --> 00:31:11,260
Depends on what you're getting.

944
00:31:11,260 --> 00:31:13,500
So if it was prior to the boom,

945
00:31:13,500 --> 00:31:15,340
2018, 2019, and everything's
increased 30%, obviously you're

946
00:31:15,340 --> 00:31:17,049
going to do your rent increases.

947
00:31:17,049 --> 00:31:18,627
And for a while there, we wouldn't

948
00:31:18,627 --> 00:31:19,613
even tell owners.

949
00:31:19,713 --> 00:31:21,494
We would just do them because it

950
00:31:21,494 --> 00:31:22,312
was a no-brainer.

951
00:31:22,312 --> 00:31:23,902
Every owner said, get it done.

952
00:31:23,902 --> 00:31:24,771
It's a different market now.

953
00:31:24,769 --> 00:31:25,929
So it really depends.

954
00:31:25,829 --> 00:31:28,331
In a current market, if they paid
a year ago and they're actually

955
00:31:28,331 --> 00:31:31,406
above market and it's actually
dipped a bit or even, that 3% or

956
00:31:31,406 --> 00:31:35,896
it fluctuates per year, I think
it's right about 3% right now,

957
00:31:35,796 --> 00:31:38,677
where is it worth it?
Because then if they leave,

958
00:31:38,677 --> 00:31:40,080
there's a good chance of vacancy.

959
00:31:40,080 --> 00:31:42,828
There's 240 condos right now on

960
00:31:42,828 --> 00:31:43,849
Castanet alone.

961
00:31:43,849 --> 00:31:45,106
There's still a tenant market.

962
00:31:45,106 --> 00:31:47,575
And what if it's an awesome
tenant?

963
00:31:47,575 --> 00:31:49,691
So it does depend on what their
base rate is.

964
00:31:49,691 --> 00:31:51,271
Cause I'll tell you this rent
increases.

965
00:31:51,171 --> 00:31:52,237
There's high emotion to it.

966
00:31:52,237 --> 00:31:53,658
Even though we think it's 30, 40

967
00:31:53,658 --> 00:31:55,020
bucks, man, I got tenants.

968
00:31:55,620 --> 00:31:57,076
Doesn't matter what demographics,

969
00:31:56,976 --> 00:31:58,796
whatever kick rocks Ezra.

970
00:31:58,796 --> 00:31:58,942
Right.

971
00:31:58,942 --> 00:32:00,194
And you're like, it's $26.

972
00:32:00,294 --> 00:32:01,566
It's the principle yeah right you

973
00:32:01,566 --> 00:32:04,200
know how much my cantaloupe and my
cucumber cost me and i'm like okay

974
00:32:04,225 --> 00:32:05,274
fair so i would be very careful
just saying car blanche which we

975
00:32:05,274 --> 00:32:06,348
used to do it's really about when
did they get in the market you

976
00:32:06,448 --> 00:32:07,422
know anyone that was prior to that
huge increase but right now

977
00:32:07,447 --> 00:32:08,396
especially if they're awesome
people it goes a long way because

978
00:32:08,296 --> 00:32:09,145
you have the relationship to say,
hey, Johnny, you know what?

979
00:32:09,145 --> 00:32:12,254
I'm not going to raise the rent
this year because you already know

980
00:32:12,254 --> 00:32:13,023
you're getting fair market value,
right?

981
00:32:13,023 --> 00:32:14,535
You want to keep good people.

982
00:32:14,535 --> 00:32:16,083
It's not worth hiring me another

983
00:32:16,083 --> 00:32:18,597
50% of the first month's rent for
a placement fee if you're with a

984
00:32:18,597 --> 00:32:21,691
licensed person, costs again, or
for yourself to go do it.

985
00:32:21,591 --> 00:32:25,430
I know all owners moan about like,
you know how many hits I've had on

986
00:32:25,430 --> 00:32:28,324
marketplace, like I can't deal
with this, that it really just

987
00:32:28,324 --> 00:32:29,880
goes based on a case by case.

988
00:32:29,980 --> 00:32:30,728
And that's the nuance.

989
00:32:30,728 --> 00:32:31,912
Now we have those conversations
with every owner.

990
00:32:31,912 --> 00:32:34,448
And really, I'm a little surprised
at the emotional response, but

991
00:32:34,448 --> 00:32:07,897
there definitely is an emotional
response.

992
00:32:07,846 --> 00:32:37,219
And to all you investors out there
and real estate agents, tell your

993
00:32:37,219 --> 00:32:39,116
clients, call them up ahead of
time.

994
00:32:39,116 --> 00:32:41,740
If you are giving them a rent
increase, talk to them.

995
00:32:41,740 --> 00:32:44,569
Even if you're just crying the
blues on your mortgage rate and

996
00:32:44,569 --> 00:32:47,495
your insurance, have that
connection rather than back in the

997
00:32:47,495 --> 00:32:49,893
day, it was a dirty letter on the
envelope that you used to tape,

998
00:32:49,893 --> 00:32:51,280
slap, take a picture and run,
right?

999
00:32:51,280 --> 00:32:54,368
Those days are over with email
serving, but be proactive with

1000
00:32:54,368 --> 00:32:57,202
your tenant if you are going to do
a rent increase.

1001
00:32:57,202 --> 00:32:58,395
You touched on a point Yeah.

1002
00:32:58,395 --> 00:33:00,474
I wanted to talk about is the like

1003
00:33:00,374 --> 00:33:01,363
50% placement anyways, fee.

1004
00:33:01,463 --> 00:33:03,085
What should somebody expect to

1005
00:33:03,185 --> 00:33:04,855
have to pay a property manager?
Yeah.

1006
00:33:04,855 --> 00:33:08,092
You know what?
It's pretty standard in the

1007
00:33:08,092 --> 00:33:12,520
industry, anywhere from, you know,
around 10% to manage the property.

1008
00:33:12,740 --> 00:33:14,703
This is virtually, I legally
become the owner on their behalf.

1009
00:33:14,603 --> 00:33:16,704
I do a full onboarding process and
we deal with everything.

1010
00:33:16,604 --> 00:33:19,744
Obviously, if we're going to spend
the owner's money or if there's

1011
00:33:19,644 --> 00:33:20,980
some adversity, there's
communication and discussion based

1012
00:33:20,980 --> 00:33:25,008
on tactics on how to move forward
because every owner is a little

1013
00:33:25,008 --> 00:33:25,447
different.

1014
00:33:25,447 --> 00:33:27,268
Some owners are like, just don't

1015
00:33:27,268 --> 00:33:28,503
talk to me unless it's over
$1,000.

1016
00:33:28,503 --> 00:33:32,873
And then I have other owners that
want to know when everyone flushes

1017
00:33:32,873 --> 00:33:33,248
the toilet.

1018
00:33:33,248 --> 00:33:35,549
So 10% to manage the property in

1019
00:33:35,449 --> 00:33:38,858
and out where you get a nice
online portal, good communication,

1020
00:33:38,858 --> 00:33:41,195
regular inspections, beautiful
owner statements, direct deposits,

1021
00:33:41,195 --> 00:33:42,596
easy peasy, go enjoy your day.

1022
00:33:42,596 --> 00:33:43,860
And then the placement, which I

1023
00:33:43,860 --> 00:33:47,690
call the heavy lifting is a vacant
unit, everything from showing the

1024
00:33:47,690 --> 00:33:50,414
property, very detailed
application process, which guys,

1025
00:33:50,414 --> 00:33:52,780
everyone out there really focus on
your application process.

1026
00:33:52,880 --> 00:33:53,847
Don't let your heart go.

1027
00:33:53,847 --> 00:33:55,713
I really like that guy.

1028
00:33:55,713 --> 00:34:01,208
Those are the people you got to
worry about the most.

1029
00:34:01,308 --> 00:34:05,273
And all that process of legal
documents, approvals, all the way

1030
00:34:05,273 --> 00:34:09,255
to a very detailed moving report,
50% of the first month's rent with

1031
00:34:09,255 --> 00:34:09,405
management.

1032
00:34:09,405 --> 00:34:11,558
I've heard if you only look for

1033
00:34:11,558 --> 00:34:14,427
just the placement because you
want to manage it, which is

1034
00:34:14,427 --> 00:34:17,362
totally fair, a nice foundation of
a professional and then passing it

1035
00:34:17,362 --> 00:34:20,335
off anywhere from 75% to 100% of
the first month's rent.

1036
00:34:20,335 --> 00:34:21,786
That's pretty standard across the
industry.

1037
00:34:21,786 --> 00:34:28,940
Some people might do a little less
on the management pending on how

1038
00:34:28,888 --> 00:34:29,710
many properties or what have you.

1039
00:34:29,710 --> 00:34:30,612
But at Vantage, that's the classic

1040
00:34:30,560 --> 00:34:30,966
50%, 10%.

1041
00:34:30,966 --> 00:34:31,077
Yeah.

1042
00:34:31,077 --> 00:34:33,455
What if you have to deal, like
what if they call you and there's

1043
00:34:33,503 --> 00:34:35,107
a plumbing issue and you got to
call a plumber?

1044
00:34:35,107 --> 00:34:37,288
Like, is that included or like,
how does that work?

1045
00:34:37,288 --> 00:34:37,641
Yeah.

1046
00:34:37,641 --> 00:34:39,904
So details are always in the

1047
00:34:39,804 --> 00:34:39,931
devil.

1048
00:34:39,931 --> 00:34:41,020
Please, all owners, read your

1049
00:34:41,120 --> 00:34:41,275
management agreement.

1050
00:34:41,275 --> 00:34:42,684
I really like Vantage because

1051
00:34:42,784 --> 00:34:44,721
we're super simple, right?
Where I've heard other agreements

1052
00:34:44,721 --> 00:34:47,931
where it's like, if a plumber
charges $200, I make 5%.

1053
00:34:47,931 --> 00:34:49,500
And you're like, kick rocks.

1054
00:34:49,500 --> 00:34:50,996
It's all part of the service

1055
00:34:50,996 --> 00:34:54,364
where, you know, some contracts or
agreements out there I've heard,

1056
00:34:54,264 --> 00:34:57,516
but maintenance is all part of
managing the property in our

1057
00:34:57,416 --> 00:34:58,601
philosophy here at Vantage.

1058
00:34:58,601 --> 00:35:00,260
We have a very good program.

1059
00:35:00,260 --> 00:35:02,102
We actually use software with AI.

1060
00:35:02,102 --> 00:35:04,625
So when you use the toaster and

1061
00:35:04,625 --> 00:35:07,158
your coffee machine, and you think
there's an outlet problem, and I

1062
00:35:07,258 --> 00:35:09,820
call an electrician for $150 and
he flicks the fuse, you know, we

1063
00:35:09,820 --> 00:35:13,365
actually have AI that clicks in
and gives you YouTube videos to

1064
00:35:13,365 --> 00:35:14,252
go, oh, that's your problem.

1065
00:35:14,252 --> 00:35:14,421
Hmm.

1066
00:35:14,421 --> 00:35:15,206
Have you checked Hmm.

1067
00:35:15,206 --> 00:35:16,441
Have you checked the fuse?

1068
00:35:16,441 --> 00:35:20,823
Do you know how to flick a fuse?
And we've saved up to like 20% of

1069
00:35:20,923 --> 00:35:22,570
maintenance tickets just on AI
technology.

1070
00:35:22,570 --> 00:35:24,730
And it's a great interactive
program for tenants to feel like

1071
00:35:24,730 --> 00:35:30,197
they've been heard.

1072
00:35:30,029 --> 00:35:30,148
How many times do you hear tenants

1073
00:35:30,107 --> 00:35:30,300
going, they never get back to me,
right?

1074
00:35:30,248 --> 00:35:33,611
So it's a nice maintenance ticket
tool and it brings in the owner.

1075
00:35:33,515 --> 00:35:39,088
And this is one thing in our
infrastructure, for example, my

1076
00:35:39,188 --> 00:35:41,122
portfolio that really takes us to
the next level of customer

1077
00:35:41,222 --> 00:35:41,589
service.

1078
00:35:41,489 --> 00:35:42,832
Yeah, I think I think for the

1079
00:35:42,832 --> 00:35:45,604
fees, like it is some of the best
money you can spend in real

1080
00:35:45,604 --> 00:35:45,827
estate.

1081
00:35:45,827 --> 00:35:48,022
Like 10% may seem high when we're

1082
00:35:48,014 --> 00:35:50,597
talking about, you know, like a
real estate agent commission or

1083
00:35:50,597 --> 00:35:53,285
something, but for the actual rent
roll that you're getting and

1084
00:35:53,285 --> 00:35:55,775
you're giving up in the expense,
it is hands down.

1085
00:35:55,775 --> 00:35:57,447
Like you're going to make that
money back all day.

1086
00:35:57,438 --> 00:35:59,473
I see a lot of investors doing
their performance.

1087
00:35:59,473 --> 00:36:01,648
You save that save that much money
on tile at all?

1088
00:36:01,648 --> 00:36:01,900
Seriously.

1089
00:36:01,900 --> 00:36:04,171
You see a lot of investors, like

1090
00:36:04,171 --> 00:36:09,420
they do their performa and like,
Hey, this is what I'm going to

1091
00:36:09,420 --> 00:36:09,756
make.

1092
00:36:09,856 --> 00:36:12,318
I'm like, well, you haven't

1093
00:36:12,218 --> 00:36:13,359
included a property manager.

1094
00:36:13,259 --> 00:36:15,340
Like, I'm just going to manage it

1095
00:36:15,340 --> 00:36:15,549
myself.

1096
00:36:15,549 --> 00:36:17,973
I'm like, even if you are, you

1097
00:36:17,973 --> 00:36:22,907
should still analyze it with, you
know, a 10% or whatever the

1098
00:36:22,907 --> 00:36:25,940
property manager is going to ask
you to do.

1099
00:36:26,280 --> 00:36:29,142
Because in six months, if you're
going to pull your hair out and

1100
00:36:29,142 --> 00:36:32,089
use a manager, you need to be able
to incorporate that as an expense.

1101
00:36:32,089 --> 00:36:34,497
And to kind of at all?
ask you to do.

1102
00:36:34,497 --> 00:36:39,513
to kind of tie in BC law, like
don't mess around, you know, all

1103
00:36:39,513 --> 00:36:42,600
it takes is you to be naive and
think, you know, it, because you

1104
00:36:42,600 --> 00:36:47,605
read the RTB, which by the way, if
you have all the time in the

1105
00:36:47,605 --> 00:36:49,962
world, you can do it yourself.

1106
00:36:49,962 --> 00:36:51,902
I want to make that very clear to

1107
00:36:51,902 --> 00:36:53,137
your audience out there.

1108
00:36:53,137 --> 00:36:55,376
But if you're going to be naive, I

1109
00:36:55,372 --> 00:36:56,894
would hate for you to get caught.

1110
00:36:56,890 --> 00:37:00,009
And now you have a $36,000 penalty

1111
00:37:00,109 --> 00:37:02,061
and you're like, ah, right.

1112
00:37:01,961 --> 00:37:04,144
Because the problem is you don't

1113
00:37:04,144 --> 00:37:05,280
know what you don't And know.

1114
00:37:05,280 --> 00:37:05,659
that Yeah.

1115
00:37:05,659 --> 00:37:06,958
gets like, Because ah, right.

1116
00:37:06,958 --> 00:37:07,760
the problem is you don't know what

1117
00:37:08,000 --> 00:37:08,337
you don't know.

1118
00:37:08,272 --> 00:37:09,320
And that gets you caught where if

1119
00:37:09,820 --> 00:37:12,416
gets caught where if you have a
licensed professional beside you

1120
00:37:12,516 --> 00:37:16,430
being like, whoa, whoa, whoa, you
know, owner, Bob, let's talk about

1121
00:37:16,430 --> 00:37:16,738
this.

1122
00:37:16,838 --> 00:37:19,546
And they're like, oh, I had no

1123
00:37:19,546 --> 00:37:19,889
idea.

1124
00:37:19,889 --> 00:37:21,670
Didn't even know to ask that

1125
00:37:21,770 --> 00:37:22,112
question.

1126
00:37:22,012 --> 00:37:23,500
And that's where I joke around.

1127
00:37:23,400 --> 00:37:24,701
It's kind of like an insurance
policy.

1128
00:37:24,701 --> 00:37:27,033
We all hate insurance until we
need it.

1129
00:37:27,033 --> 00:37:29,951
And in this world, being a
professional, specifically with

1130
00:37:29,951 --> 00:37:32,084
tenants and Google, right, you
have to remember, there's tenant

1131
00:37:32,084 --> 00:37:35,420
Facebook pages that talk to each
other and go, you can do this,

1132
00:37:35,420 --> 00:37:39,157
like, it's not the old age where
they don't have the information.

1133
00:37:39,157 --> 00:37:43,583
And I think it's worth every real
estate agent out there at least

1134
00:37:43,583 --> 00:37:47,180
discussing with their client, if
you are new to the game, or you've

1135
00:37:47,080 --> 00:37:50,932
never done this yourself, and you
don't have the time to really just

1136
00:37:50,932 --> 00:37:52,918
research it, do your real research
before moving forward.

1137
00:37:52,918 --> 00:37:54,469
Because it's always just like you
said, oh, I'll manage it myself.

1138
00:37:54,469 --> 00:37:58,045
And then they get in a pickle and
there's times they call me and I'm

1139
00:37:58,045 --> 00:38:00,457
like, oh, you really are in a
pickle.

1140
00:38:00,457 --> 00:38:02,756
And it's like sometimes it's too
late.

1141
00:38:02,756 --> 00:38:04,534
And it's like sometimes it's too
late.

1142
00:38:04,434 --> 00:38:04,621
Yeah.

1143
00:38:04,621 --> 00:38:06,671
I don't want to take that on.

1144
00:38:06,571 --> 00:38:07,998
want to And sometimes I don't.

1145
00:38:07,898 --> 00:38:10,047
Like I don't, you know, let's just

1146
00:38:10,047 --> 00:38:13,165
take on a massive problem that's
going to take me 40 hours to solve

1147
00:38:13,165 --> 00:38:17,737
you know that's where to be honest
i don't take a lot of tenant

1148
00:38:17,737 --> 00:38:20,061
turnovers anymore i'm not a
charity i'm sorry maybe there

1149
00:38:20,061 --> 00:38:22,651
should be right maybe there is
what do you mean by that what's a

1150
00:38:22,651 --> 00:38:25,448
going to do you mean by that
what's a tenant turnover like a

1151
00:38:25,548 --> 00:38:28,941
like a so you rented in a place
and you did a tenancy agreement on

1152
00:38:28,941 --> 00:38:32,200
a napkin and you got some problems
and you call me up and you're

1153
00:38:32,340 --> 00:38:34,088
like, I want you to manage my
property.

1154
00:38:34,088 --> 00:38:35,233
And I said, Oh, okay.

1155
00:38:35,233 --> 00:38:36,137
Let me go check it out.

1156
00:38:36,137 --> 00:38:38,046
Send me all your documents.

1157
00:38:37,946 --> 00:38:38,988
Let me go check out the property.

1158
00:38:38,988 --> 00:38:41,649
Don't think I'm going to do it,
but I'm going to refer you someone

1159
00:38:41,646 --> 00:38:42,878
that might take it on.

1160
00:38:42,878 --> 00:38:43,078
Right.

1161
00:38:42,975 --> 00:38:43,615
Because it's also the
relationship.

1162
00:38:43,615 --> 00:38:44,600
Let's say you're an asshole.

1163
00:38:44,740 --> 00:38:46,112
And pardon me if there's younger

1164
00:38:46,112 --> 00:38:47,586
viewers here, right?
I have to take over.

1165
00:38:47,586 --> 00:38:50,264
You've already made it toxic where
I really enjoy coming from the

1166
00:38:50,264 --> 00:38:50,733
beginning.

1167
00:38:50,733 --> 00:38:51,837
That's very important because

1168
00:38:51,737 --> 00:38:54,349
you're telling a story and you're
working on that relationship.

1169
00:38:54,349 --> 00:38:57,180
And that's not talked about enough
in the industry because I've dealt

1170
00:38:57,180 --> 00:38:58,673
with some very, very serious
situations, mental health, people

1171
00:38:58,673 --> 00:38:59,313
just go sideways.

1172
00:38:59,313 --> 00:39:00,860
But because we started it and went

1173
00:39:00,860 --> 00:38:55,019
through it, it's a lot easier to
untangle rather than me coming in

1174
00:38:55,019 --> 00:39:05,682
going, I've set up to fail because
I'm trying to make my owner happy

1175
00:39:05,782 --> 00:39:06,291
and I can't.

1176
00:39:06,291 --> 00:39:07,446
And there's times where I'm just

1177
00:39:07,446 --> 00:39:08,763
saying, I want to help.

1178
00:39:08,663 --> 00:39:09,940
I have in my career.

1179
00:39:10,040 --> 00:39:11,497
And there's certain times I will,
especially if they're your

1180
00:39:11,497 --> 00:39:13,256
friends, I'll take care of your
clients, you know, and again,

1181
00:39:13,256 --> 00:39:13,960
that's part of relationship
building.

1182
00:39:13,960 --> 00:39:16,663
But I don't take them all because
number one, it's not financially a

1183
00:39:16,663 --> 00:39:17,636
gain and I can't win.

1184
00:39:17,636 --> 00:39:19,923
So why would I go on to the field

1185
00:39:19,923 --> 00:39:23,693
and lose for the sake of just
being a nice guy?

1186
00:39:23,693 --> 00:39:24,450
It's very strategic.

1187
00:39:24,427 --> 00:39:24,760
You know, I actually totally agree

1188
00:39:24,719 --> 00:39:25,142
with what you're saying because we
touched on this earlier in the

1189
00:39:25,111 --> 00:39:25,161
show.

1190
00:39:25,138 --> 00:39:25,940
But like having a nice

1191
00:39:26,040 --> 00:39:28,040
relationship, like so many times
as an agent, I go in there and it

1192
00:39:28,040 --> 00:39:28,820
sounds all good.

1193
00:39:28,820 --> 00:39:31,435
But then I go meet the tenant and

1194
00:39:31,335 --> 00:39:33,744
realize that the owner and the
tenant absolutely hate each other.

1195
00:39:33,744 --> 00:39:35,957
And by extension, they immediately
hate me before I even do anything.

1196
00:39:35,957 --> 00:39:38,727
And it just makes the process like
a thousand times worse.

1197
00:39:38,727 --> 00:39:42,006
And most of the time it's the
owner that's holding the bag at

1198
00:39:42,106 --> 00:39:42,378
the end.

1199
00:39:42,378 --> 00:39:44,447
You know, like they're the one

1200
00:39:44,347 --> 00:39:46,000
that gets screwed over.

1201
00:39:46,100 --> 00:39:48,355
The tenants have all the laws on

1202
00:39:48,355 --> 00:39:50,028
their side in this province.

1203
00:39:50,028 --> 00:39:51,118
Like it's hard to win.

1204
00:39:51,018 --> 00:39:53,432
Like they have to be very in the
wrong for them to lose.

1205
00:39:53,432 --> 00:39:57,867
And a lot of the times what I see
is that the owners make it so much

1206
00:39:57,867 --> 00:40:00,895
harder on themselves and me just
by not treating them with respect,

1207
00:40:00,995 --> 00:40:01,347
you know.

1208
00:40:01,347 --> 00:40:03,258
And I think it's okay.

1209
00:40:03,158 --> 00:40:04,731
We're humans to be emotional,
especially about art.

1210
00:40:04,731 --> 00:40:08,124
You know, if someone steals your
bike, you get upset.

1211
00:40:08,124 --> 00:40:10,462
I want to go deal with it.

1212
00:40:10,462 --> 00:40:12,000
I'm going to go down to the

1213
00:40:12,340 --> 00:40:13,419
railway there and go find my bike.

1214
00:40:13,419 --> 00:40:14,591
When you know the logistics is

1215
00:40:14,591 --> 00:40:15,955
known, call the police and put
your serial number in.

1216
00:40:15,952 --> 00:40:16,925
And that's another important piece
of having that third party to

1217
00:40:16,925 --> 00:40:19,340
absorb your emotions and then work
together.

1218
00:40:19,480 --> 00:40:22,744
Because what happens is something
bad happens, emotion comes in, and

1219
00:40:22,744 --> 00:40:25,889
then it degrades the relationship
and i think that's the key piece

1220
00:40:25,889 --> 00:40:28,774
and the takeaway today is that
relationship is so key and having

1221
00:40:28,774 --> 00:40:31,350
that buffer of your emotions
because you're pissed off that

1222
00:40:31,350 --> 00:40:34,117
they punched a hole in the wall
for example yeah yeah and yeah

1223
00:40:34,117 --> 00:40:37,001
again i'm talking about the one
percent i think that's always very

1224
00:40:37,001 --> 00:40:37,784
clear 99 or let's go a little bit
lower because the odd person will

1225
00:40:37,784 --> 00:40:40,015
pay a little bit late 95 of my
portfolio is clean sailing and

1226
00:40:40,015 --> 00:40:42,850
good relationship and off to the
races yeah the emotional piece the

1227
00:40:42,850 --> 00:40:45,700
emotional piece is hard to get
around but like you said honestly

1228
00:40:45,700 --> 00:40:47,950
for me that's like i can get
emotional but a property manager

1229
00:40:47,850 --> 00:40:49,923
is the buffer so like a few weeks
ago i was playing softball my

1230
00:40:49,923 --> 00:40:51,739
phone was ringing ringing everyone
was like what is on?

1231
00:40:51,839 --> 00:40:53,948
Property manager in the Kootenays
was like, hey, yeah, building's on

1232
00:40:53,948 --> 00:40:54,259
fire.

1233
00:40:54,259 --> 00:40:55,316
It's an apartment building.

1234
00:40:55,316 --> 00:40:56,908
And I was like, oh, okay.

1235
00:40:56,808 --> 00:40:57,899
Like, has anyone heard?

1236
00:40:57,999 --> 00:41:00,558
Is the place burned down?
Well, the fire department's on the

1237
00:41:00,558 --> 00:41:00,930
way.

1238
00:41:00,930 --> 00:41:03,091
I'm like, oh, so it's an active

1239
00:41:03,091 --> 00:41:03,359
fire.

1240
00:41:03,459 --> 00:41:05,301
It's like, yeah, the power went

1241
00:41:05,301 --> 00:41:05,636
out.

1242
00:41:05,636 --> 00:41:06,440
The tenant left.

1243
00:41:06,440 --> 00:41:08,322
The stove was left on.

1244
00:41:08,322 --> 00:41:10,716
Power came back Stove I was all I

1245
00:41:10,716 --> 00:41:11,457
don't on.

1246
00:41:11,457 --> 00:41:11,799
Call fire.

1247
00:41:11,799 --> 00:41:15,107
me like, an active right, fire
she's well, like yeah know.

1248
00:41:15,107 --> 00:41:16,330
the power went later.

1249
00:41:16,330 --> 00:41:19,173
out the tenant left the stove was

1250
00:41:19,073 --> 00:41:22,822
left on power came back on stove
fire it's like all right well i

1251
00:41:22,722 --> 00:41:25,480
don't know call me later like you
know but it's her responsibility

1252
00:41:25,580 --> 00:41:28,176
and she's an amazing manager so
you just isolate that scenario and

1253
00:41:28,176 --> 00:41:30,997
whatever happens happens but yeah
you delegate the job to the person

1254
00:41:30,997 --> 00:41:33,629
that's you know the best you got
very emotional there too no burned

1255
00:41:33,629 --> 00:41:35,823
down?
best you got very emotional there

1256
00:41:35,823 --> 00:41:39,459
no i did well three years, a unit
above it actually flooded and put

1257
00:41:39,559 --> 00:41:40,462
out the fire.

1258
00:41:40,462 --> 00:41:42,719
Yeah, the two go hand in hand.

1259
00:41:42,719 --> 00:41:44,474
the two go hand in hand.

1260
00:41:44,474 --> 00:41:46,743
That was like yin and a yin a yang

1261
00:41:46,743 --> 00:41:46,958
situation.

1262
00:41:46,958 --> 00:41:47,316
Yeah.

1263
00:41:47,316 --> 00:41:49,751
Well, and I think that's key going
to play off on your relationship

1264
00:41:49,751 --> 00:41:50,467
and just generalize.

1265
00:41:50,467 --> 00:41:52,020
Real estate agents and investors,

1266
00:41:52,280 --> 00:41:53,045
really interview your property
manager.

1267
00:41:53,045 --> 00:41:54,485
Really plug them with some good
questions.

1268
00:41:54,485 --> 00:41:55,880
Hey, what's your system?
How does it work?

1269
00:41:55,880 --> 00:41:57,646
manager, really plug them with
some good questions.

1270
00:41:57,746 --> 00:42:00,146
Hey, what's your system?
How does it work?

1271
00:42:00,246 --> 00:42:02,880
You know, I'm more of a team
corporate, very structured, making

1272
00:42:02,920 --> 00:42:05,304
the Dutch blood very proud, right?
Where some are just like mom and

1273
00:42:05,304 --> 00:42:06,469
pops and just started.

1274
00:42:06,469 --> 00:42:08,105
And I remember when I first

1275
00:42:08,005 --> 00:42:10,861
started as a licensed property
manager, 65% of them are

1276
00:42:10,761 --> 00:42:15,680
successful and make it where, you
know, it's the mom and pop. What

1277
00:42:15,680 --> 00:42:18,105
is your process for an emergency?
What is it?

1278
00:42:18,105 --> 00:42:20,571
Like I have bounce backs on
everything that no matter what it

1279
00:42:20,571 --> 00:42:23,339
will get to a restoration company,
you know, 24 seven, where in the

1280
00:42:23,339 --> 00:42:26,200
beginning, I was so serious, like
I was going to places at 3am.

1281
00:42:26,200 --> 00:42:27,300
And I'm like, I actually don't
need to.

1282
00:42:27,300 --> 00:42:29,998
But as an investor, like dig a
little deeper, you know, there's a

1283
00:42:29,998 --> 00:42:32,258
lot of property managers out there
that do it different.

1284
00:42:32,258 --> 00:42:37,080
You know, I'm very proud to say
how I do it and how Vantage does

1285
00:42:37,400 --> 00:42:37,610
it.

1286
00:42:37,610 --> 00:42:39,360
but we're all very different and

1287
00:42:39,360 --> 00:42:39,615
different personalities.

1288
00:42:39,715 --> 00:42:42,245
You know, for example, my team,

1289
00:42:42,145 --> 00:42:43,851
you can tell I can talk.

1290
00:42:43,851 --> 00:42:45,420
You know, my mom said, so I used

1291
00:42:45,520 --> 00:42:46,246
to Eskimo the whole bit.

1292
00:42:46,246 --> 00:42:47,402
And that's super key for

1293
00:42:47,402 --> 00:42:47,898
relationships and negotiations.

1294
00:42:47,898 --> 00:42:49,550
But I also have a licensed person

1295
00:42:49,550 --> 00:42:51,233
who's absolutely black and white
to the book.

1296
00:42:51,233 --> 00:42:54,442
And it's just one, two punch, but
not everyone's like that.

1297
00:42:54,442 --> 00:42:57,774
I'm not saying I'm better than
someone else because someone likes

1298
00:42:57,774 --> 00:43:02,281
the mom and pop, one person, one
cell phone, all the above.

1299
00:43:02,381 --> 00:43:06,392
And you as an investor really need
to kind of see what works for you

1300
00:43:06,392 --> 00:43:09,716
and what makes you feel
comfortable paying this person to

1301
00:43:09,716 --> 00:43:13,722
do the job because each property
manager, each brokerage can do it

1302
00:43:13,722 --> 00:43:14,194
very different.

1303
00:43:14,194 --> 00:43:14,463
Yeah.

1304
00:43:14,463 --> 00:43:16,079
Since short-term rental
legislation came out in the

1305
00:43:16,079 --> 00:43:19,527
spring, have you seen quite a few
more properties convert over to

1306
00:43:19,527 --> 00:43:21,906
long-term rentals?
Like are owners actively, you

1307
00:43:21,906 --> 00:43:23,914
know, pursuing and saying, Hey,
we've got this unit converting

1308
00:43:23,914 --> 00:43:24,220
over.

1309
00:43:24,220 --> 00:43:25,578
Do you have any high level data on

1310
00:43:25,578 --> 00:43:26,962
that?
I don't have primary specific

1311
00:43:26,962 --> 00:43:27,108
data.

1312
00:43:27,108 --> 00:43:29,584
Obviously we know that they've had

1313
00:43:29,584 --> 00:43:32,261
to, as my phone been off the hook
with a whole bunch of furnished

1314
00:43:32,261 --> 00:43:33,788
suites, you know, coming into the
market personally?

1315
00:43:33,788 --> 00:43:34,582
Not that many.

1316
00:43:34,582 --> 00:43:36,451
Obviously, we hear about it, but I

1317
00:43:36,451 --> 00:43:39,357
don't have the concrete data of
how many Kelowna Airbnbs had to

1318
00:43:39,357 --> 00:43:39,634
switch over.

1319
00:43:39,634 --> 00:43:41,391
But you're definitely seeing more

1320
00:43:41,391 --> 00:43:43,726
condos on the market than ever
before.

1321
00:43:43,726 --> 00:43:47,475
And I will say furnished condos
can be challenging to rent because

1322
00:43:47,475 --> 00:43:48,615
people have stuff.

1323
00:43:48,615 --> 00:43:51,684
But at the same time, I'm always

1324
00:43:51,684 --> 00:43:55,434
surprised that more and more
furnished suites are being rented.

1325
00:43:55,434 --> 00:43:59,885
It's kind of like the new gen is
like, I don't have to buy

1326
00:43:59,885 --> 00:44:01,941
everything and have junk and
accept my phone and my laptop and

1327
00:44:01,941 --> 00:44:02,921
my bag giddy up.

1328
00:44:02,921 --> 00:44:04,840
So I'm a little bit more old

1329
00:44:04,652 --> 00:44:04,852
school.

1330
00:44:04,661 --> 00:44:04,807
And the market used to say,

1331
00:44:04,759 --> 00:44:05,000
unfurnished is the way to go.

1332
00:44:04,812 --> 00:44:05,000
So no, I haven't seen this huge

1333
00:44:04,862 --> 00:44:05,000
blip.

1334
00:44:04,871 --> 00:44:04,957
But then that goes back to my

1335
00:44:04,914 --> 00:44:05,755
point is there seems to be a lot
of two bedrooms out there.

1336
00:44:05,755 --> 00:44:07,815
And that's what you have to be
wary about.

1337
00:44:07,815 --> 00:44:11,500
Because those are the harder ones
to rent one parking stall, so on

1338
00:44:11,500 --> 00:44:12,494
and so forth.

1339
00:44:12,494 --> 00:44:15,760
So we have seen a hit, but we also

1340
00:44:15,760 --> 00:44:19,325
it's a little bit blurred, because
how many new builds have come onto

1341
00:44:19,325 --> 00:44:19,778
the market.

1342
00:44:19,778 --> 00:44:21,517
And that's what really floods the

1343
00:44:21,517 --> 00:44:22,295
market is when a whole building
comes up and I'm going to use the

1344
00:44:22,295 --> 00:44:23,143
one on cost.

1345
00:44:23,243 --> 00:44:25,902
And I want to say 604 where a lot

1346
00:44:25,902 --> 00:44:27,480
of these condos are investors.

1347
00:44:27,480 --> 00:44:28,360
They're not people moving into

1348
00:44:27,315 --> 00:44:27,480
them.

1349
00:44:27,480 --> 00:44:27,975
And guess what?

1350
00:44:27,975 --> 00:44:31,800
When you throw 50 and a hundred
onto the market, it blurs a little

1351
00:44:32,020 --> 00:44:33,968
bit of the Airbnb market because
you just have whole buildings

1352
00:44:33,968 --> 00:44:34,300
coming on.

1353
00:44:34,300 --> 00:44:37,105
And, you know, I don't have the

1354
00:44:37,105 --> 00:44:41,640
stats, but it seems like 88% of
them are all investors that wanted

1355
00:44:41,627 --> 00:44:43,227
to get in the game.

1356
00:44:43,213 --> 00:44:43,876
Yeah, yeah.

1357
00:44:43,876 --> 00:44:44,520
at the Yeah.

1358
00:44:44,780 --> 00:44:45,782
And I foresee that moving forward,

1359
00:44:45,721 --> 00:44:46,507
by the way.

1360
00:44:46,346 --> 00:44:47,249
I see all these buildings coming

1361
00:44:47,249 --> 00:44:48,733
up and I'm going, I don't think
everyone's moving into them.

1362
00:44:48,772 --> 00:44:49,153
Yeah.

1363
00:44:49,053 --> 00:44:50,060
There's quite a few rental only,

1364
00:44:50,440 --> 00:44:52,216
like how many rental only
buildings are being built right

1365
00:44:52,213 --> 00:44:53,743
now?
There must be at least a dozen.

1366
00:44:53,740 --> 00:44:57,878
There's quite a few rental I think
we've got like 3000 units in the

1367
00:44:57,878 --> 00:45:00,188
next couple of years for purpose
built It's a rentals.

1368
00:45:00,188 --> 00:45:00,803
And they're ton.

1369
00:45:00,803 --> 00:45:02,703
all going like, to come must be at

1370
00:45:02,703 --> 00:45:03,989
least a I think we've dozen.

1371
00:45:03,989 --> 00:45:05,849
got like 3,000 units in the next

1372
00:45:05,849 --> 00:45:07,235
couple of years for purpose-built
rentals.

1373
00:45:07,335 --> 00:45:07,962
It's insane.

1374
00:45:08,062 --> 00:45:08,392
insane.

1375
00:45:08,292 --> 00:45:09,188
There's a ton.

1376
00:45:09,188 --> 00:45:10,314
And like, they're all gonna come

1377
00:45:10,414 --> 00:45:11,547
for rent at the same time.

1378
00:45:11,547 --> 00:45:11,869
Yeah.

1379
00:45:11,869 --> 00:45:13,798
Yeah, and I talk about that all
the time.

1380
00:45:13,798 --> 00:45:16,657
And I think it's important for
real estate agents out there that

1381
00:45:16,557 --> 00:45:19,622
they need to understand there will
be a mini flood of the market for

1382
00:45:19,722 --> 00:45:20,347
that building.

1383
00:45:20,447 --> 00:45:21,573
And for like two, three months,

1384
00:45:21,573 --> 00:45:23,135
it's cutthroat, right?
Everyone sees the eight units or

1385
00:45:23,235 --> 00:45:23,516
20 units.

1386
00:45:23,516 --> 00:45:26,597
And I'm going, hey, I know you

1387
00:45:26,497 --> 00:45:28,246
want your 2,600 for that one.

1388
00:45:28,146 --> 00:45:29,452
It's probably worth it once this

1389
00:45:29,352 --> 00:45:29,986
building fills up.

1390
00:45:29,986 --> 00:45:31,445
But Billy down the road has the

1391
00:45:31,445 --> 00:45:32,306
exact same unit.

1392
00:45:32,206 --> 00:45:34,299
And he's saying, I'm 100 bucks

1393
00:45:34,299 --> 00:45:34,489
cheaper.

1394
00:45:34,589 --> 00:45:36,646
And then you go 100 bucks cheaper.

1395
00:45:36,646 --> 00:45:38,803
Then they go 100 bucks cheaper.

1396
00:45:38,803 --> 00:45:40,135
You do get this mini flood.

1397
00:45:40,235 --> 00:45:41,974
And then the price wars hits.

1398
00:45:41,974 --> 00:45:43,306
And then they're locked in.

1399
00:45:43,306 --> 00:45:46,604
And they're like, well, let's just
raise it up $400 next year.

1400
00:45:46,704 --> 00:45:49,178
And you're like, well, let's
review residential tenancy law and

1401
00:45:49,078 --> 00:45:49,459
the renting.

1402
00:45:49,459 --> 00:45:51,040
That is not how that works.

1403
00:45:51,040 --> 00:45:51,927
And and the renting.

1404
00:45:51,927 --> 00:45:53,498
That is not how that works.

1405
00:45:53,498 --> 00:45:56,459
For the furnished apartments, do
they rent generally $50 a month

1406
00:45:56,459 --> 00:45:59,017
more?
What's kind of the standard rule

1407
00:45:59,017 --> 00:46:01,705
of thumb?
Yeah, standard rule of thumb is

1408
00:46:01,705 --> 00:46:04,013
you're not making more.

1409
00:46:04,013 --> 00:46:04,237
Okay.

1410
00:46:04,237 --> 00:46:06,322
Everyone's like, yeah, but my
furniture's worth some.

1411
00:46:06,322 --> 00:46:08,167
No. If anything, it's hard to
rent.

1412
00:46:08,167 --> 00:46:09,776
It's a more narrow market.

1413
00:46:09,776 --> 00:46:12,572
And again, I wish I had data, but

1414
00:46:12,472 --> 00:46:14,408
it's so hard in this business to
have data.

1415
00:46:14,408 --> 00:46:17,492
We do see furnished places going
more than before, but it's

1416
00:46:17,492 --> 00:46:21,764
actually narrows your market and
you definitely don't get more.

1417
00:46:21,864 --> 00:46:24,398
A little bit different in the
executive home market, but when it

1418
00:46:24,398 --> 00:46:28,017
comes to just generalizing, no, if
anything I say, you're going to

1419
00:46:28,017 --> 00:46:30,616
get the same and it's going to be
harder to rent.

1420
00:46:30,616 --> 00:46:30,961
Interesting.

1421
00:46:30,961 --> 00:46:32,616
It's kind of the same with

1422
00:46:32,616 --> 00:46:32,891
selling.

1423
00:46:32,891 --> 00:46:34,615
Although I think with buying,

1424
00:46:34,615 --> 00:46:37,752
people generally want the
furniture more, but they're not

1425
00:46:37,752 --> 00:46:38,907
paying extra for it.

1426
00:46:39,007 --> 00:46:40,129
And always tell always tell

1427
00:46:40,129 --> 00:46:44,578
owners, I say, Hey, what do you
think of your couch?

1428
00:46:44,678 --> 00:46:46,114
Oh, I really like it.

1429
00:46:46,114 --> 00:46:47,807
It'll never look the same.

1430
00:46:47,807 --> 00:46:50,974
I need you to think of a sweaty
man sleeping on that couch.

1431
00:46:50,974 --> 00:46:53,674
And no matter how you clean it, it
ain't going to be the same.

1432
00:46:53,674 --> 00:46:55,412
And even be like, well, Ezra,
that's considered damage.

1433
00:46:55,412 --> 00:46:56,574
You take them to arbitration.

1434
00:46:56,474 --> 00:46:57,988
You're like, how am I going to

1435
00:46:58,088 --> 00:46:58,676
prove that?
Right.

1436
00:46:58,676 --> 00:47:01,339
So, you know, always really those
proactive conversations are super

1437
00:47:01,339 --> 00:47:01,488
important.

1438
00:47:01,588 --> 00:47:01,813
Yeah.

1439
00:47:01,713 --> 00:47:05,381
I kind I kind of look at the
furniture piece of like, well, I

1440
00:47:05,381 --> 00:47:09,264
can store it here for a couple of
years and then take it to the dump

1441
00:47:09,164 --> 00:47:12,729
where I can take it to the dump
now and rent it out.

1442
00:47:12,729 --> 00:47:15,351
Like either way, it's going to the
dump, you know?

1443
00:47:15,351 --> 00:47:15,706
know?
Yeah, absolutely.

1444
00:47:15,706 --> 00:47:17,569
Facebook marketplace can be pretty
good, but like these could

1445
00:47:17,569 --> 00:47:19,878
obviously take some time and
energy to get that done.

1446
00:47:19,878 --> 00:47:20,122
Yeah.

1447
00:47:20,122 --> 00:47:22,133
And just to conclude what I do

1448
00:47:22,033 --> 00:47:25,009
just on a good note, hey, market
it furnished or unfurnished and

1449
00:47:25,009 --> 00:47:26,741
see what sticks, right?
That's another really good option

1450
00:47:26,741 --> 00:47:27,027
for people.

1451
00:47:27,027 --> 00:47:27,640
Yeah, furnishing option.

1452
00:47:27,640 --> 00:47:29,960
Yeah, that's what I tell my
sellers too, that exact thing.

1453
00:47:29,960 --> 00:47:31,480
Cause you're right.

1454
00:47:31,480 --> 00:47:33,285
Some people just, they have their

1455
00:47:33,185 --> 00:47:33,625
own stuff.

1456
00:47:33,625 --> 00:47:35,325
Like I don't want to throw away

1457
00:47:35,325 --> 00:47:37,580
all my own stuff to have this
stuff.

1458
00:47:37,580 --> 00:47:38,060
Yeah.

1459
00:47:38,060 --> 00:47:40,220
And the root is really just

1460
00:47:40,220 --> 00:47:42,939
finding the right good person and
through a vigorous application

1461
00:47:43,039 --> 00:47:45,670
process and a gut opinion by the
way we say our educated opinion

1462
00:47:45,670 --> 00:47:49,140
and then you know we all know the
disclosures the root is really

1463
00:47:49,030 --> 00:47:51,963
just finding the right good person
and through a vigorous application

1464
00:47:51,863 --> 00:47:54,025
process and a gut opinion by the
way we say our educated opinion

1465
00:47:54,025 --> 00:47:57,885
and then you know we all know the
disclosures that we say for our

1466
00:47:57,885 --> 00:48:00,644
clients in confidence all the
above and it's like hey let's have

1467
00:48:00,621 --> 00:47:57,723
the real chat here and give our
gut opinion it's always we've used

1468
00:47:57,723 --> 00:48:04,762
the line your casa is my casa and
i always say ask me the question

1469
00:48:04,724 --> 00:48:05,270
owner what i rent to that person
i'm going to give you here and

1470
00:48:05,093 --> 00:48:05,217
give our gut It's opinion.

1471
00:48:05,179 --> 00:48:05,516
we've used the always, your casa

1472
00:48:05,320 --> 00:48:05,560
is my line, casa.

1473
00:48:05,425 --> 00:48:05,560
a It's opinion.

1474
00:48:05,480 --> 00:48:07,160
we've used the always, your casa
is my line, casa.

1475
00:48:07,260 --> 00:48:08,226
your casa is my line, casa.

1476
00:48:08,226 --> 00:48:09,291
And I always ask say, me the

1477
00:48:09,291 --> 00:48:11,260
question, owner, would I rent to
that person?

1478
00:48:11,247 --> 00:48:12,359
I'm going to give you my blunt
opinion.

1479
00:48:12,345 --> 00:48:14,182
And I think that's, what's great
about myself.

1480
00:48:14,182 --> 00:48:15,263
I'm not desperate to rent your
place.

1481
00:48:15,263 --> 00:48:16,690
I'm hungry, but I'm not desperate.

1482
00:48:16,690 --> 00:48:18,880
And you know, it's easy to put

1483
00:48:19,040 --> 00:48:21,894
them in and hard to get them out.

1484
00:48:21,794 --> 00:48:22,220
Yeah.

1485
00:48:22,260 --> 00:48:26,132
To head into our wrap up questions
as we're conscious of time for

1486
00:48:26,032 --> 00:48:26,095
you.

1487
00:48:26,095 --> 00:48:27,797
If you could buy one property in

1488
00:48:27,897 --> 00:48:30,760
the Okanagan in the next 12
months, what would it be?

1489
00:48:31,040 --> 00:48:31,690
Ooh, loaded question.

1490
00:48:31,690 --> 00:48:32,882
Now, are you saying from an

1491
00:48:32,982 --> 00:48:34,011
investor or just strictly
personal?

1492
00:48:33,911 --> 00:48:34,074
Either.

1493
00:48:34,074 --> 00:48:35,103
You could say both.

1494
00:48:35,103 --> 00:48:35,832
Yeah, whatever you want.

1495
00:48:35,832 --> 00:48:37,177
Yeah, you know what?

1496
00:48:37,177 --> 00:48:37,818
Let's do both.

1497
00:48:37,918 --> 00:48:38,523
That's fun.

1498
00:48:38,523 --> 00:48:40,188
On an investor note, I mentioned
it earlier.

1499
00:48:40,188 --> 00:48:40,380
Studios.

1500
00:48:40,380 --> 00:48:41,181
Look at those studios.

1501
00:48:41,181 --> 00:48:42,593
You can get in the game.

1502
00:48:42,693 --> 00:48:43,723
So studio, what'd you do?

1503
00:48:43,723 --> 00:48:44,665
Depending location and the right
price.

1504
00:48:44,565 --> 00:48:46,113
A great example is that Cambridge
building.

1505
00:48:46,113 --> 00:48:46,681
Yeah.

1506
00:48:46,681 --> 00:48:48,235
I believe it's on Leon there and

1507
00:48:48,235 --> 00:48:44,719
Ethel, you know, great value.

1508
00:48:47,197 --> 00:48:48,200
It's a big studio.

1509
00:48:48,156 --> 00:48:50,247
A lot of them are 400 square feet.

1510
00:48:50,347 --> 00:48:52,462
They're close to downtown and they

1511
00:48:52,462 --> 00:48:54,471
rent all day long and I've got
long-term tenants.

1512
00:48:54,471 --> 00:48:57,005
So really look at the studios,
something that's not quite right

1513
00:48:57,005 --> 00:48:59,010
downtown based on price point.

1514
00:48:59,110 --> 00:49:00,170
But I look at that Cambridge

1515
00:49:00,155 --> 00:49:02,806
building right now that if I was
personally to invest with

1516
00:49:02,806 --> 00:49:05,280
everything that I know, I use that
as a great example.

1517
00:49:05,340 --> 00:49:07,748
I always say be a little bit
careful in the Rutland area in

1518
00:49:07,748 --> 00:49:11,961
regards to location, really read
your strata minutes on, you know,

1519
00:49:11,961 --> 00:49:14,284
some of the security and things
like that.

1520
00:49:14,284 --> 00:49:15,223
Do your due diligence.

1521
00:49:15,223 --> 00:49:16,475
But from an investor point of

1522
00:49:16,437 --> 00:49:18,930
view, looking at studios, because
I'm also very conservative where,

1523
00:49:18,830 --> 00:49:20,480
you know, they're going to rent
right where those townhouses and

1524
00:49:20,480 --> 00:49:21,341
those high end things that can be
challenging.

1525
00:49:21,341 --> 00:49:23,985
And those are what take the
biggest hit.

1526
00:49:23,959 --> 00:49:27,130
So from there, and on a personal
note, I just invested into my own

1527
00:49:27,031 --> 00:49:27,152
property.

1528
00:49:27,152 --> 00:49:28,244
My parents immigrated both Dutch

1529
00:49:28,344 --> 00:49:28,911
and Salmon Arm.

1530
00:49:28,911 --> 00:49:30,121
I picked up 40 acres four years

1531
00:49:30,021 --> 00:49:31,132
ago from my Oma who's passed.

1532
00:49:31,132 --> 00:49:32,787
And I just bought into the family

1533
00:49:32,787 --> 00:49:34,194
property, which is the connecting
80 acres.

1534
00:49:34,194 --> 00:49:36,241
So eventually you'll see tree
houses and Canadian bunkies, me

1535
00:49:36,241 --> 00:49:38,865
making a pizza, playing the guitar
that I'm terrible at in my next

1536
00:49:38,865 --> 00:49:39,912
generation, which is a solid 15
years away.

1537
00:49:40,012 --> 00:49:43,030
But that just is hot off the press
in about last two weeks.

1538
00:49:43,130 --> 00:49:43,508
So it's super key.

1539
00:49:43,501 --> 00:49:45,401
I love Salmon Arm just from a

1540
00:49:45,501 --> 00:49:48,820
personal point of view of going
back Kelowna.

1541
00:49:48,820 --> 00:49:52,111
I think you guys know the stats
and I'll kind of rant on this is

1542
00:49:52,211 --> 00:49:53,872
the future is incredibly bright
with Kelowna and just population.

1543
00:49:53,872 --> 00:49:56,031
Right now, we see a little bit of
people moving to Calgary.

1544
00:49:56,031 --> 00:49:56,678
We still people coming in.

1545
00:49:56,678 --> 00:49:57,711
But long term seems like they'll

1546
00:49:57,811 --> 00:49:58,926
come to their senses there
eventually.

1547
00:49:58,926 --> 00:50:02,095
Well, that's what happens, you
know, when you leave and then you

1548
00:50:02,095 --> 00:50:02,356
come back.

1549
00:50:02,356 --> 00:50:04,500
You know, I'm so happy to be in

1550
00:50:04,500 --> 00:50:04,709
Kelowna.

1551
00:50:04,709 --> 00:50:05,859
Like it's such a great market.

1552
00:50:05,859 --> 00:50:08,816
And my buddy came into town and
he's like, Ezra, this place is

1553
00:50:08,816 --> 00:50:09,058
clean.

1554
00:50:09,057 --> 00:50:10,891
You know, the people are

1555
00:50:10,891 --> 00:50:11,022
beautiful.

1556
00:50:11,022 --> 00:50:12,949
Like he's an enamel boy.

1557
00:50:12,849 --> 00:50:14,803
And he's like, in the senses there
eventually.

1558
00:50:14,803 --> 00:50:17,093
Well, that's what happens, you I'm
coming.

1559
00:50:17,093 --> 00:50:19,927
All right, Ezra, if you could give
your 20 year old self any piece of

1560
00:50:20,027 --> 00:50:21,869
advice, what are you saying?
Yeah, you know, that's a great

1561
00:50:21,825 --> 00:50:21,903
question.

1562
00:50:21,903 --> 00:50:22,760
This is such a good one.

1563
00:50:22,760 --> 00:50:23,185
Number one, patience.

1564
00:50:23,135 --> 00:50:25,316
You know, if you're a young person

1565
00:50:25,316 --> 00:50:29,040
or just in general, think things
through, you know, if you're going

1566
00:50:29,040 --> 00:50:32,208
to make a decision, sleep on it
for not 24 hours, 48 hours,

1567
00:50:32,208 --> 00:50:33,686
especially if it's a life-changing
situation.

1568
00:50:33,686 --> 00:50:34,320
That's number one.

1569
00:50:34,320 --> 00:50:25,316
And number two, who's your coach?

1570
00:50:25,316 --> 00:50:27,778
Who's your mentor?
And not your mommy and daddy.

1571
00:50:27,778 --> 00:50:30,659
Have that person that you can
bounce ideas off to.

1572
00:50:30,659 --> 00:50:34,320
In my life, my success is to all
my coaches to the point where I

1573
00:50:34,320 --> 00:50:37,380
joke around, I'm Pinocchio with a
lot of people helping me out.

1574
00:50:37,380 --> 00:50:40,497
But if I had those mentors and
that patience as a young man, I'm

1575
00:50:40,497 --> 00:50:41,654
proud who I am.

1576
00:50:41,654 --> 00:50:43,423
I've never been happier, but I

1577
00:50:43,423 --> 00:50:44,374
also had to go through some
serious turbulations and learning

1578
00:50:44,342 --> 00:50:44,392
moments.

1579
00:50:44,361 --> 00:50:44,669
So yeah, hey, everyone that's

1580
00:50:44,493 --> 00:50:44,940
young out there, really kind of
just sleep on it and grind it out.

1581
00:50:44,764 --> 00:50:45,019
Don't be scared to get stuck in.

1582
00:50:44,973 --> 00:50:45,120
That's awesome advice.

1583
00:50:45,066 --> 00:50:45,120
I love it.

1584
00:50:45,090 --> 00:50:45,101
That is good advice.

1585
00:50:44,915 --> 00:50:45,120
All All right, Pinocchio, what is
your favorite charity or how do

1586
00:50:45,042 --> 00:50:49,455
you get back?
Yeah, you know what?

1587
00:50:49,455 --> 00:50:50,451
Interesting you say what?
Interesting you say that, you

1588
00:50:50,300 --> 00:50:51,345
know, I don't know if it's a
charity per se, but I'm definitely

1589
00:50:51,345 --> 00:50:52,539
very interested in the BC Wildlife
Federation, you know, protecting,

1590
00:50:52,564 --> 00:50:53,061
you know, our fish wildlife
habitat.

1591
00:50:53,061 --> 00:50:55,839
That is my new kind of things that
I really like to do.

1592
00:50:55,739 --> 00:50:57,229
And it's very important we take
care of our environment.

1593
00:50:57,229 --> 00:50:59,693
You know, you see the changes,
even just the smoke.

1594
00:50:59,693 --> 00:51:03,042
My family's been through two major
fires over the last 60 years.

1595
00:51:03,042 --> 00:51:04,144
And just creating that balance.

1596
00:51:04,144 --> 00:51:05,766
I'm a little bit of a Libra.

1597
00:51:05,666 --> 00:51:09,057
And then my last one is, is just
giving back through coaching

1598
00:51:09,057 --> 00:51:09,272
soccer.

1599
00:51:09,272 --> 00:51:11,040
You know, you see these young

1600
00:51:11,360 --> 00:51:14,072
people and you see those eyeballs
and you have such an opportunity

1601
00:51:14,072 --> 00:51:14,637
to support people.

1602
00:51:14,637 --> 00:51:16,088
And the game of soccer brought me

1603
00:51:16,188 --> 00:51:17,480
a lot of life lessons.

1604
00:51:17,880 --> 00:51:20,218
So to be able to give back and

1605
00:51:20,218 --> 00:51:23,199
give my time to those players
giving soccer, but really it's the

1606
00:51:23,199 --> 00:51:24,902
life lessons in that, for example.

1607
00:51:24,902 --> 00:51:25,850
Love Love it.

1608
00:51:25,950 --> 00:51:27,874
Can we give you a quick plug
there?

1609
00:51:27,874 --> 00:51:29,581
So you got your own podcast.

1610
00:51:29,581 --> 00:51:31,322
It's mostly about soccer, Ezra's

1611
00:51:31,222 --> 00:51:31,292
House.

1612
00:51:31,292 --> 00:51:32,778
You're the owner of the Kelowna

1613
00:51:32,878 --> 00:51:33,628
Football Club.

1614
00:51:33,628 --> 00:51:35,185
Is that what it's called?

1615
00:51:35,185 --> 00:51:36,069
Yeah, Kelowna City FC.

1616
00:51:36,069 --> 00:51:38,016
There's an old soccer club in town

1617
00:51:38,016 --> 00:51:38,516
called Kelowna United.

1618
00:51:38,616 --> 00:51:41,345
And how fun would it be to have

1619
00:51:41,345 --> 00:51:43,556
Kelowna City for anyone who knows
Man United, Man City?

1620
00:51:43,556 --> 00:51:45,890
That's been the latest passion
project that's just kind of

1621
00:51:45,890 --> 00:51:47,425
flowered through my relationships,
long-term relationships.

1622
00:51:47,525 --> 00:51:49,820
And we're loud and proud in our
first full season this past

1623
00:51:49,820 --> 00:51:49,963
spring.

1624
00:51:49,963 --> 00:51:51,535
We're going to have over 500

1625
00:51:51,535 --> 00:51:55,582
members this year and it's all
about building community so i have

1626
00:51:55,682 --> 00:51:57,938
a huge passion for bringing people
together churches and pubs were

1627
00:51:58,038 --> 00:52:00,766
historically areas where people
would go but how awesome is it to

1628
00:52:00,866 --> 00:52:04,520
for example have a football club
where people come and have those

1629
00:52:04,620 --> 00:52:07,285
spontaneous hangouts because i'm
tired of being like, Hey man, you

1630
00:52:07,285 --> 00:52:09,608
want to hang out?
And we're like, October 16th is

1631
00:52:09,608 --> 00:52:10,440
open for me.

1632
00:52:10,440 --> 00:52:12,105
So yeah, Kelowna city is a

1633
00:52:12,205 --> 00:52:13,492
community football club, all ages.

1634
00:52:13,592 --> 00:52:15,353
You want to learn a little bit

1635
00:52:15,453 --> 00:52:17,260
more about my podcast.

1636
00:52:17,260 --> 00:52:19,235
It'll bore you to sleep and make

1637
00:52:19,235 --> 00:52:19,848
my mother proud.

1638
00:52:19,848 --> 00:52:20,866
Ezra's house on Spotify.

1639
00:52:20,866 --> 00:52:22,022
I love Man it.

1640
00:52:21,922 --> 00:52:23,228
Hey, the football club that really

1641
00:52:23,228 --> 00:52:28,370
resonated with me a couple of
months ago when I met you and you

1642
00:52:28,370 --> 00:52:32,480
were first talking about it was
you're trying to create like, you

1643
00:52:32,480 --> 00:52:35,607
know, hey, the dad's playing in
the football club and the kids see

1644
00:52:35,607 --> 00:52:38,800
the dad or the mom see their
parents play and then they want to

1645
00:52:38,800 --> 00:52:39,071
play.

1646
00:52:39,071 --> 00:52:41,480
And it's like just this holistic

1647
00:52:41,620 --> 00:52:43,121
like community, like you said,
that's really cool.

1648
00:52:43,121 --> 00:52:45,976
You know, I think that's what I
saw as a youth.

1649
00:52:45,976 --> 00:52:48,607
Like when you see, you know,
people you look up to playing a

1650
00:52:48,607 --> 00:52:50,423
sport, you kind of do it.

1651
00:52:50,423 --> 00:52:52,916
But if you're building like a

1652
00:52:53,016 --> 00:52:55,215
all-age football club is super
cool only if i could play football

1653
00:52:55,115 --> 00:52:58,527
i'd join but i suck so you have an
amazing coach at home taylor an

1654
00:52:58,527 --> 00:53:01,583
amazing coach at home taylor man
no excuse for you yeah well and

1655
00:53:01,578 --> 00:53:04,118
all ages so for example beach
soccer we have a beach pitch that

1656
00:53:04,118 --> 00:53:06,952
just got built let's use it
streetball even just watching the

1657
00:53:06,952 --> 00:53:11,173
game like it's not and all ages so
for example beach soccer we have a

1658
00:53:11,073 --> 00:53:14,273
beach pitch that just got built
let's use it streetball even just

1659
00:53:14,273 --> 00:53:15,050
watching the game like it's not
even for people who want to play

1660
00:53:15,150 --> 00:53:17,450
it's people who just like the game
you know if you're into tactics

1661
00:53:17,450 --> 00:53:20,069
and interesting games like
football is a game of moving chess

1662
00:53:19,969 --> 00:53:22,022
it's very intriguing i know you
hockey players think there's no

1663
00:53:22,022 --> 00:53:24,396
goals but there is and you
mentioned earlier how entertaining

1664
00:53:24,396 --> 00:53:26,624
was our canadian national team
against argentina for example and

1665
00:53:26,724 --> 00:53:29,595
going back to your point that's
what it's all about well the

1666
00:53:29,595 --> 00:53:32,286
canadian national team did get to
the next level scoring one goal in

1667
00:53:32,286 --> 00:53:33,947
three games.

1668
00:53:33,847 --> 00:53:36,115
the canadian national team did get

1669
00:53:36,015 --> 00:53:39,055
to the next level scoring one goal
in three games.

1670
00:53:39,055 --> 00:53:40,983
So maybe there's not that many
goals.

1671
00:53:40,983 --> 00:53:42,635
Well, you know, but it was
entertaining.

1672
00:53:42,735 --> 00:53:44,491
It was entertaining as hell,
there's no doubt about it.

1673
00:53:44,491 --> 00:53:47,171
Kind of to wrap up that piece of
seeing that succession is very

1674
00:53:47,171 --> 00:53:48,500
important and a place to call
home, right?

1675
00:53:48,660 --> 00:53:52,457
I'm not a very religious guy now,
but I grew up that way, a place to

1676
00:53:52,457 --> 00:53:54,662
belong, a place to become, and we
try not to cut players.

1677
00:53:54,662 --> 00:53:58,897
So it's very important where when
you wear the badge and you see

1678
00:53:58,797 --> 00:54:01,765
your daddy or your mommy or
someone else in town, and it's

1679
00:54:01,765 --> 00:54:03,128
that look like, hey man, how you
doing?

1680
00:54:03,128 --> 00:54:05,998
Even if you don't know each other,
there's that place of belonging.

1681
00:54:05,898 --> 00:54:09,358
And on the other hand, though, we
also have a deep passion for when

1682
00:54:09,358 --> 00:54:11,685
a little kid says, I want to be
messy, that we have the platform i

1683
00:54:11,685 --> 00:54:14,708
think you should have said alfonso
yeah true you should have said

1684
00:54:14,708 --> 00:54:17,536
yeah true but unfortunately
everybody wants to be messy and

1685
00:54:17,536 --> 00:54:22,901
not by some alfonso oh that some
alfonso oh that a boy right but we

1686
00:54:22,801 --> 00:54:26,259
have that a boy right but we have
a clear pathway to get there you

1687
00:54:26,259 --> 00:54:29,511
want to get a sniff with the white
caps we'll make sure you get your

1688
00:54:29,611 --> 00:54:32,736
sniff because that's also part of
it we know it's sometimes just

1689
00:54:32,736 --> 00:54:33,789
closure 99.9% of the time.

1690
00:54:33,789 --> 00:54:36,449
But if there is that one, if Isaac

1691
00:54:36,445 --> 00:54:38,675
Bomer from Okanagan Falls can make
it to the backup keeper, I already

1692
00:54:38,675 --> 00:54:40,048
know the industry in football.

1693
00:54:40,048 --> 00:54:41,592
There are some amazing talent in

1694
00:54:41,592 --> 00:54:42,462
football in this region.

1695
00:54:42,462 --> 00:54:43,976
There's over 5,500 players in the

1696
00:54:43,976 --> 00:54:45,297
central Okanagan right now.

1697
00:54:45,297 --> 00:54:46,371
That's fantastic.

1698
00:54:46,271 --> 00:54:46,689
a fantastic.

1699
00:54:46,689 --> 00:54:47,106
That's awesome.

1700
00:54:47,106 --> 00:54:50,076
All right, Ezra, how can Taylor or
I or our listener help you?

1701
00:54:50,076 --> 00:54:53,577
What do you want from us?
Bring me back me back on in a

1702
00:54:53,577 --> 00:54:53,973
year.

1703
00:54:53,973 --> 00:54:55,666
That's how you can help me.

1704
00:54:55,566 --> 00:54:57,422
I had a lot of fun with you guys.

1705
00:54:57,422 --> 00:54:58,907
And no, I think you giving your

1706
00:54:58,907 --> 00:55:01,181
true opinion to anyone, good, bad
or ugly.

1707
00:55:01,081 --> 00:55:02,705
It's all about the honesty card.

1708
00:55:02,705 --> 00:55:04,891
So I've gotten to know you guys a

1709
00:55:04,891 --> 00:55:06,950
little bit more and vice versa.

1710
00:55:06,950 --> 00:55:07,850
And everyone's connected by a

1711
00:55:07,850 --> 00:55:09,528
couple lines, especially in this
town.

1712
00:55:09,528 --> 00:55:10,591
And I think that's what's key.

1713
00:55:10,591 --> 00:55:12,093
You know, everyone has opinions.

1714
00:55:12,093 --> 00:55:14,560
But this is what I like about
these conversations.

1715
00:55:14,560 --> 00:55:15,552
They're long form.

1716
00:55:15,552 --> 00:55:16,854
It's not just clickbait.

1717
00:55:16,854 --> 00:55:22,398
fun with you And I even say that
in general about I even say that

1718
00:55:22,398 --> 00:55:26,019
in general about everyone I meet,
you know, I don't have an opinion

1719
00:55:26,019 --> 00:55:28,428
about anyone until we have these
kinds of conversations.

1720
00:55:28,428 --> 00:55:32,439
So you can give me the tea about
Taylor after that's really really

1721
00:55:32,439 --> 00:55:36,353
it right there, boys, you know, so
I just appreciate you having me

1722
00:55:36,353 --> 00:55:39,431
on, you know, anytime and anything
you guys need, feel free to give

1723
00:55:39,431 --> 00:55:42,571
out my number to anyone that needs
some advice.

1724
00:55:42,571 --> 00:55:45,291
I will give the time of day to
people in football, property

1725
00:55:45,291 --> 00:55:47,692
management to ensure that they
don't have those reactionary.

1726
00:55:47,592 --> 00:55:48,180
Oh crap.

1727
00:55:48,080 --> 00:55:49,057
What have I done?

1728
00:55:49,057 --> 00:55:52,011
And what have I got myself into?
I love it, man.

1729
00:55:52,011 --> 00:55:55,279
Well, yeah, I had a ton of fun,
good energy today and yeah, really

1730
00:55:55,279 --> 00:55:58,593
looking forward to having you back
on it.

1731
00:55:58,493 --> 00:55:59,718
It won't be a year.

1732
00:55:59,618 --> 00:56:01,399
How's your October 17th?

1733
00:56:01,399 --> 00:56:04,555
You know what?
I'll be out in the bush in my tree

1734
00:56:04,555 --> 00:56:06,095
stand, but make it November 15th
or 16th.

1735
00:56:06,095 --> 00:56:07,415
We're good to good to go.

1736
00:56:07,415 --> 00:56:08,120
All right.

1737
00:56:08,020 --> 00:56:08,560
Sounds good.

1738
00:56:08,560 --> 00:56:08,845
Thanks, buddy.

1739
00:56:08,845 --> 00:56:09,505
Appreciate it.