The Real Estate Round Table

This is an engaging and heartfelt farewell podcast. It offers a great mix of personal reflections, lessons learned, and future aspirations.

The podcast discussion offers excellent insights into getting started in real estate today. Here's a summary of the top tips shared: 1. Immerse Yourself in the Market Browse Listings: Use platforms like MLS, Western Investor, or other local resources to analyze deals and understand the market. Educate Yourself on the Details: Learn to interpret real estate terms, spot potential deals, and evaluate key metrics like pro forma financials versus actuals. Talk to Professionals: Build relationships by calling listing agents and brokers. Personal connections can lead to off-market deals and insider insights. 2. Define Your Goals and Create a Plan Set Clear Objectives: Decide on the type of investment (e.g., single-family homes, apartments, commercial spaces). Reverse Engineer Steps: Break down your goal into actionable steps and identify what’s needed to achieve them. Schedule Time: Allocate consistent time to research, analyze, and take actionable steps, even if it’s just an hour a week. 3. Seek Guidance and Build Relationships Find a Mentor or Mastermind Group: Learn from those experienced in your target asset class. A mentor can help you avoid pitfalls and accelerate your progress. Save for Down Payments and Financing: Understand your financial requirements, including rates and lending options, and be prepared to act. Take Action: Don’t overanalyze to the point of paralysis. The best learning often comes from doing. Key Takeaways: Preparation is essential. Whether it’s through extensive research, networking, or mentorship, invest in building a solid foundation. Real estate success often stems from a balance of education, clear planning, and decisive action. Relationships play a critical role in uncovering opportunities and executing deals effectively. If you'd like to refine these tips further or create tailored advice for a specific audience, let me know!

This podcast conversation reflects a thoughtful and multi-perspective discussion on bonuses and gifts within business and management practices. A few key points emerge: Cultural Sensitivity: Acknowledging cultural norms, such as the 13th-month pay in the Philippines, is essential for maintaining positive relationships with team members from diverse backgrounds. Timing and Types of Bonuses/Gifts: Many participants align bonuses and gifts with festive occasions (e.g., Christmas) or birthdays, and there’s a preference for practical gifts like Amazon gift cards or culturally specific packages. Strategic Employee Engagement: Offering long-term incentives like equity shares or performance-based bonuses can create significant alignment between team goals and individual efforts. However, not all employees are comfortable with or interested in such arrangements. Discretionary Nature of Bonuses: While some view bonuses as discretionary rewards for good performance or loyalty, others see them as integral to maintaining goodwill and retention. Communication and Relationship Building: Building trust and understanding the personal aspirations of team members helps foster a supportive environment. Books like The Dream Manager provide frameworks for managing people by addressing their aspirations. Pragmatic Challenges: Challenges such as aligning bonus expectations with actual business performance or managing contractor agreements show the need for flexibility and good communication in contracts. This discussion showcases how tailored approaches to compensation and recognition can significantly impact business relationships and team morale. If you’d like, I can synthesize these insights into actionable advice or further elaborate on any aspect!

This podcast explores the nuanced topic of rent control and its impact on landlords, tenants, and housing markets. The perspectives shared reveal how different regulatory environments can shape investment strategies and housing dynamics. Here’s a summary of the key points: 1. The Definition and Forms of Rent Control Varied systems: Rent control may cap increases at a set rate tied to the property or allow market resets when tenants vacate. Examples of systems: Alberta operates without rent control, while Ontario and many U.S. states have prescribed limits on rent increases. 2. Landlords' Perspective on Rent Control Investment decisions: Many landlords, including those in the U.S., prefer markets without rent control due to greater flexibility in setting rents and managing evictions. Challenges under rent control: Strict controls may discourage reinvestment in properties, potentially leading to deteriorating housing quality. Operating costs: Rising costs—such as taxes, insurance, utilities, and garbage services—often consume a significant portion of rental income, leaving landlords with limited funds for property upgrades. 3. Tenants' Perspective and Benefits of Rent Control Affordability: Rent control can provide stability and affordability for tenants, particularly in low-vacancy markets. Challenges: Some systems incentivize landlords to prefer tenant turnover to reset rents, potentially creating tension. 4. Market Dynamics and Supply Role of supply: Expanding housing inventory is seen as a key solution to stabilizing rents without heavy regulatory intervention. Case studies: Saskatoon and Edmonton were highlighted as examples where market adjustments (rather than strict rent controls) led to periods of affordability and recovery. 5. Broader Economic and Social Impacts Social assistance: Inadequate government support for vulnerable populations often exacerbates housing struggles, overshadowing the role of landlords. Political narratives: The dialogue critiques oversimplified portrayals of landlords as exploitative and tenants as victims, emphasizing the need for balanced discourse. 6. Preferences in Investment Landlord-friendly markets: Investors like those speaking in this discussion prioritize jurisdictions with minimal rent control and clear rules around evictions. Flexibility and fairness: Landlords often strive to keep rents competitive to retain tenants while balancing operational costs. This discussion underscores the complexity of rent control policies and their far-reaching implications. It highlights the importance of balanced regulation that supports tenants’ needs while ensuring landlords can sustainably maintain and improve housing stock.

The podcast provides a detailed discussion on the pros and cons of using a home equity line of credit (HELOC) to invest in real estate, emphasizing several key points: Pros of Using a HELOC for Investment: Access to Funds: For many Canadians, leveraging home equity might be their only accessible source of investment capital without waiting for savings to accumulate. Flexibility: HELOCs offer flexibility in accessing funds when needed, which can be useful for opportunities like the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat). Potential for Returns: If managed properly, the borrowed funds can generate returns that exceed the cost of borrowing, making the investment profitable. Risks and Considerations: Cost of Borrowing: HELOC interest rates can be high (e.g., prime + 2.5%), cutting into potential returns. It’s essential to factor in HELOC payments when calculating the project’s profitability. Exchange Rate Challenges: When using Canadian HELOC funds to invest in the U.S., fluctuating exchange rates and transfer fees can complicate calculations and reduce returns. Risk of Over-Leverage: Relying heavily on HELOC funds without a solid repayment plan can lead to financial stress, especially if the project timeline extends or returns underperform. Tax Implications: For Canadian tax purposes, HELOC interest is only deductible if it's used exclusively for investment. Mixing personal and investment expenses in the same account can lead to complications with the Canada Revenue Agency (CRA). Practical Advice: Plan for Repayment: Treat HELOC funds like private loans with a clear repayment strategy, such as refinancing or proceeds from a profitable project. Clean Accounting: Keep HELOC transactions for investments separate from personal use to simplify tax reporting and avoid disputes with the CRA. Assess Alternatives: Consider other funding options, like U.S.-based loans for U.S. investments, which might offer higher leverage and potentially better rates despite their own risks. Know Your Numbers: Accurately calculate the costs, including HELOC interest, exchange rate fluctuations, and potential tax implications, to ensure the investment will generate net positive returns. Vet Partners: When partnering on projects, ensure you understand where your partner’s funding is coming from, as their financial pressures could indirectly affect the project. Final Thoughts: Using a HELOC for real estate investment can work well if the numbers align and risks are understood. However, it’s crucial to have a solid financial plan, conservative assumptions, and clarity about all associated costs to make informed decisions.

This weeks podcast delves into the mechanics of determining and leveraging cap rates in real estate investment, with several practical insights. Below is a summary and key takeaways: Key Points from the Discussion Understanding Cap Rates: Cap rate is a measure of return on investment for a property, calculated as NOI (Net Operating Income) divided by the purchase price. It allows for the comparison of properties regardless of debt structures. A higher cap rate indicates higher returns but often implies higher risk. Determining Market Cap Rates: Connect with brokers, realtors, and appraisers active in your target market to gather cap rate data. Use subscription lists from commercial real estate firms (e.g., Colliers, Avison Young) for current listings and sales information. Study historical property sales and their performance for patterns and benchmarks. Challenges with Market Data: In smaller markets (low population or less activity), data scarcity increases cap rate variability. In major markets, cap rates tend to be lower due to higher demand and liquidity. Creating Value Beyond Initial Cap Rates: Properties with vacancies or operational inefficiencies often have lower advertised cap rates but offer opportunities for value creation. By stabilizing rents, filling vacancies, and improving operations, investors can significantly improve effective cap rates. External Influences on Real Estate Markets: International money inflows into stable countries (e.g., Canada, the U.S.) often prioritize asset safety over returns, inflating real estate prices and impacting local cap rates. Practical Strategies: Always verify data (e.g., actual NOI versus pro forma projections). Build relationships with professionals who can provide insights on local markets. Track and analyze properties over time for better decision-making.

Key Strategies for Finding and Keeping Reliable Contractors Recruit Continuously: Always maintain a pool of contractors to avoid delays. Start Small: Test new contractors with minor tasks before assigning larger projects. Set Clear Expectations: Communicate standards for work quality, tenant interactions, and cleanup. Use contracts to clarify terms and identify red flags. Pay Promptly: Pay contractors immediately upon job approval, especially for small businesses. Provide Feedback: Collect tenant feedback and maintain open communication to ensure quality. Build Relationships: Respect their time, understand their goals, and treat them as part of your team. Proactive Management: Oversee projects actively to prevent issues and maintain standards. Key Mindset: Treat contractors with respect and reliability to foster long-term partnerships.

The discussion focuses on best practices for dealing with tenants and prioritizing stability over turnover. Key points include: Clarity and Respect in Communication: Respect and clear, honest communication build trust and goodwill with tenants. Avoid relying on texting; verbal conversations preserve nuance. Stability Over Turnover: Turnover is expensive due to renovation costs, contractor availability, and vacancy losses. Prioritizing tenant retention leads to predictable, reliable income. Aggressively raising rents risks instability and attracting less reliable tenants. Market Strategy: Retaining tenants by staying slightly below market rent ensures longer tenancies and avoids costly turnovers. Rent increases should align with market dynamics and tenant agreements (e.g., transitioning to month-to-month leases at market rates). Adding Value: Offer tenants value through good-quality units and strong service. Treat tenants as customers, focusing on satisfaction and fostering loyalty. Investing in proper repairs reduces long-term issues. Calculating Renovation ROI: Use cap rates to determine the ROI for rent increases following renovations. Example: A $300 monthly rent increase at a 7% cap rate adds $51,000 in property value. Sustainability: Avoid overpricing units or attracting desperate tenants, which can lead to instability. Banks value stability; turnovers can complicate financing as consistent income is required. Overall, tenant retention, stability, and adding value are central to long-term profitability and maintaining healthy rental communities.

The discussion centers on creating value in real estate and entrepreneurship through intentional strategies: Creating Value in Work and Entrepreneurship: Value is created by solving problems, improving processes, or providing products/services. Sharing knowledge freely, such as through podcasts or communities, builds trust and reciprocal value. Real Estate Value Creation: Forced Appreciation: Renovating properties to increase value beyond the cost of improvements. BRRRR Strategy: Buy, Renovate, Rent, Refinance, Repeat – a way to grow a portfolio while improving neighborhoods. Gentrification can transform areas, benefiting the broader community. Examples include improving multifamily units, shopping centers, and mobile home parks through upgrades, infills, and better management. Adding Value Through Process: Robust systems (e.g., accounting, forecasting, and property management) reduce risk and improve long-term performance. Small improvements in processes compound over time, increasing efficiency and profitability. Key Takeaway: Whether through property improvements, process optimization, or sharing knowledge, value creation leads to growth, stability, and financial rewards.

This episode covers a broad array of strategies for making money in real estate, offering insights for individuals at various experience levels. Here’s a summary of key points and approaches mentioned: Entry-Level Approaches Bird-Dogging: Identifying neglected properties for potential investors. Boots on the Ground: Assisting remote investors by taking photos or performing on-site tasks. Networking: Attending meetups to connect with experienced investors for mentorship and collaboration. Creative Financing and Active Investment Strategies Lease Options: Renting with an option to purchase for cash flow generation. BRRRR Strategy: Buy, Rehab, Rent, Refinance, Repeat, to scale a portfolio. Wholesaling: Securing properties under contract and selling them to other investors for a fee. Passive Income Opportunities Private Lending: Offering loans secured by real estate to earn interest and points. Joint Ventures: Partnering as a passive investor to fund projects in exchange for profit-sharing. REITs: Investing in Real Estate Investment Trusts for indirect property exposure. Specialized Roles Asset Manager: Managing property managers to ensure efficiency and accountability. Key Principal: Signing for loans on large projects, leveraging personal net worth. Real Estate Agent/Broker: Facilitating property transactions for commissions. Promissory Notes: Lending via promissory notes secured against properties. Real Estate-Related Businesses Home Services: Running companies that offer services like repairs, maintenance, or cleaning. Teaching: Sharing expertise through courses (while emphasizing credibility). Holding and Appreciation Simply owning a home or property generates wealth through appreciation, inflation advantages, and principal repayment over time. Key Advice and Best Practices Reputation Matters: Avoid promoting products or services solely for commissions if they lack quality. Start Now: The best time to invest in real estate is always today, as holding properties over the long term builds wealth. Do Due Diligence: Whether it’s teaching programs, lending, or entering partnerships, research thoroughly. If you’d like to dive deeper into any of these strategies or explore how to apply them to your portfolio, let me know!

The discussion covers common mistakes first-time real estate investors make and provides practical advice to avoid them. Here's a summary of key points: 1. Financial Mistakes Underfinancing: Not budgeting enough for unforeseen expenses, carrying costs, and renovations. Over-leveraging: Using too much debt or personal funds, leaving no cushion for unexpected costs. Ignoring Lending Details: Failing to understand lending terms, refinance rules, or country-specific differences in financing. 2. Operational Errors Unrealistic Planning: Underestimating renovation timelines and costs, assuming tenants will stay during upgrades, and counting on cash flow prematurely. Lack of Reserve Funds: Not having funds set aside for emergencies or cost overruns. Over-renovating: Spending excessively on upgrades that don't align with the rental market's demands. 3. Partner and Contractor Issues Choosing the Wrong Partner: Aligning with people for their financial contributions without assessing compatibility or shared vision. Poor Contractor Management: Failing to set clear expectations, schedules, or contracts with contractors, leading to delays and miscommunication. 4. Personal Liability and Legal Oversights Personal Ownership: Buying in personal names without considering tax implications, liability risks, or the benefits of holding assets in legal entities. Skipping Legal Setup: Avoiding simple yet critical steps like forming LLCs or corporations, which provide liability protection. 5. Emotional and Strategic Missteps Emotional Decisions: Buying based on emotion rather than running the numbers objectively. Paralysis or Impatience: Either overanalyzing without ever taking action or rushing into deals without due diligence. Doing Too Much Alone: Trying to handle everything personally instead of delegating to professionals. Advice for Avoidance Create a realistic, well-funded business plan. Prioritize proper research and due diligence. Build a reliable team and foster partnerships based on trust and competence. Use resources wisely, protect yourself legally, and avoid rushing into deals. This advice is a cautionary guide to help new investors avoid stress, financial loss, and potentially irreversible mistakes.

This weeks episode revolves around the evolving understanding of what makes a great deal in real estate and business. The speakers initially focused on analytical approaches, like strategic numbers and specific metrics, but they reflect on how their perspectives have shifted over time. They now emphasize the importance of deals that align with bigger personal and business goals, rather than just focusing on profitability. A great deal is viewed not only as one that brings in profit but also as one that moves you forward towards long-term goals, minimizes stress, and involves working with the right partners. The speakers also mention how their thinking has evolved, particularly after working together and reflecting on past experiences. The discussion highlights key elements of a great deal: Alignment with long-term goals: A great deal should push you closer to your bigger aspirations, not just focus on short-term financial gains. Collaboration: Working with the right people and partners can make a significant difference in whether a deal is enjoyable or stressful. Risk management: Understanding and mitigating risk is a crucial part of making sound investments. It’s important to balance the desire for certainty with the reality that risk is inherent in all business ventures. Leverage: Using financial resources or specialized knowledge to create value for both sides is a core principle in real estate, as it allows for maximizing opportunities. Exit strategy: A great deal should have a clear exit, with defined timelines and a reasonable chance of success, preventing situations where you're stuck in a deal without a way out. The conversation also touches on how working with motivated sellers can lead to more favorable deals, and the concept of the "Buy, Rehab, Rent, Refinance, Repeat" (BRRRR) strategy is mentioned as a way of creating value and growing a portfolio. This approach reflects the shift from focusing purely on numbers to considering how deals fit into broader business and life goals.

The discussion centers around real estate investing and scaling up to larger projects, with key takeaways on mindset, education, and strategy: Continuous Learning & Course Development Glen emphasizes updating his real estate course based on student questions, ensuring it remains relevant. Real-world challenges, like contractors threatening liens, highlight the need for practical knowledge and professional support. Overcoming Fear & Growing Your Mindset The hosts stress the importance of starting small and proving your concept. Larger projects require stepping out of your comfort zone, backed by education, networking, and exposure to experienced investors. Team Building & Networking Successful scaling involves assembling a skilled team, including attorneys, underwriters, and brokers. Surrounding yourself with experienced, ambitious people helps shift your mindset and gain confidence. Practical Steps to Scaling Reading books, attending courses, and joining masterminds were instrumental for all hosts. Collaborating with professionals familiar with larger deals is crucial. Maintaining Focus & Positive Influences Sharing ambitious goals with supportive individuals ensures you stay motivated and avoid negativity. Consistency and persistence over time lead to success. Overall, the episode underlines the importance of education, collaboration, and a growth mindset in transitioning to larger real estate projects.

This episode dives deep into the nuances of sales within real estate, focusing on understanding the needs and perspectives of all parties involved—buyers, sellers, tenants, and even investors. Here's a quick summary of key takeaways: 1. Selling Real Estate Portfolios Darcy discusses the sale of a portfolio as part of a cyclical investment strategy. The process involves preparing properties, stabilizing them, and ensuring they are attractive to buyers. Understanding market conditions, like interest rates, is crucial when deciding the right time to sell. 2. Customizing Sales for Tenants and Buyers Aurelian emphasizes empathetic listening and tailoring offers to meet the specific needs of tenants and buyers. Strategies include: Conducting tenant exit interviews to improve units. Offering solutions for sellers concerned about taxes or future income streams. Creating a win-win situation by understanding both parties' needs. 3. Selling Real Estate Responsibly Glenn shares insights on selling properties to podcast listeners or other direct buyers. Maintaining reputation and trust is key: Ensure properties are performing well. Be transparent about the condition of assets and potential risks. The goal is for buyers to feel confident in their purchase and have good stories to share. 4. The Role of Culture in Sales Style The hosts discuss how Canadian, American, and even French sales cultures differ. Canadians generally prefer subtle, relationship-focused sales approaches, avoiding high-pressure tactics common in other contexts. 5. Building Trust Through Storytelling Selling is often about presenting a compelling story, whether it's about improving tenant lives, solving problems for investors, or creating shared visions for success. Authenticity and shared values help build long-term relationships. 6. Coaching and Non-Pushy Marketing When selling coaching services, Glen avoids high-pressure sales, focusing on presenting benefits and letting potential clients decide. This reinforces the importance of matching services to client needs. Conclusion This episode captures the essence of balancing professionalism, empathy, and ethical considerations in real estate sales. By focusing on mutual benefit, sellers can achieve their goals while fostering positive relationships.

In this episode of "Real Estate Roundtable", the hosts—Glen Sutherland, Aurelien Bonin, and Darcy White—share their biggest real estate investment mistakes and the lessons learned from them, offering listeners valuable insights on how to avoid similar pitfalls. Aurelien Bowen's Mistake: Aurelien lost a property deal because one of the conditions expired, and a fellow investor swooped in to close the deal. He had been working without a real estate agent, which resulted in a missed deadline and loss of the deal to someone he had mentioned it to. This experience emphasized the importance of carefully tracking contract dates and being mindful of who you share deal details with. Lesson: Always leverage a calendar to track contract expiry dates and be cautious about who you share deal information with. Hiring professionals, like real estate agents, can help prevent such oversights. Darcy White's Mistake: Darcy's biggest mistake involved a real estate partnership that lacked a formal agreement. He entered into a deal where he funded the purchase of a property, while his partner was supposed to do the work. However, the partner began invoicing for time without delivering results, leading to a poorly structured deal that went over budget and ended in a $26,000 loss—the only time Darcy ever lost money on a real estate deal. Lesson: Always have a clear, written partnership agreement that outlines responsibilities and consequences. Even if you know your partner well, accountability is crucial to protect both the relationship and the deal. Glen Sutherland's Mistake: Glen once took a referral at face value when expanding into a new market, without doing due diligence on the person referred. The contractor did not meet expectations, leading to project delays and other complications. Glen learned to always ask probing questions to verify the quality and reliability of referrals, rather than simply trusting a recommendation. Lesson: Always perform due diligence on referrals, regardless of the source. Interview the person being referred and ask creative, insightful questions to ensure they have solid systems and practices in place. Avoid making assumptions and vet referrals thoroughly. In sharing these stories, the hosts stress the importance of proper planning, documentation, and due diligence when it comes to real estate partnerships and referrals. Their advice encourages investors to learn from their mistakes, improve their processes, and be more strategic in their business relationships. Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere

In this episode of the Real Estate Roundtable podcast, hosts Glen Sutherland, Aurelien Bonin, and Darcy White—real estate professionals with over 50 years of combined experience—discuss their latest projects, regrets, and lessons learned from their real estate journeys. Darcy shares updates on his business, managing leases and preparing quarterly reports for 21 properties. The hosts then reflect on what they would do differently in their careers, such as taking action sooner, working with teams, and seeking coaching or mentorship early on. Each host emphasizes learning from past experiences, syndicating with others, and not hesitating to invest in self-improvement to accelerate their real estate growth. The conversation concludes with advice on continuous learning, both through self-reflection and by drawing insights from successful figures in the field. Glen, Aurelien, and Darcy encourage listeners to apply these lessons to their own real estate ventures and to engage with the podcast by sending in their questions for future discussions. Let me know if you'd like to edit or expand on this summary or discuss a specific part in more detail! Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere

In this lively episode of "The Real Estate Roundtable" with Glen, Darcy, and Aurelien they discuss their first and best real estate deals. Glen shared updates about his recent projects, including a 90-unit under review and a wave of single-family home sales. Each host reflected on their early experiences, highlighting the significant lessons learned from those pivotal moments. Darcy spoke about his first deal being not only profitable but a foundational success, providing a model for future investments. Glen's story focused on his turning point, shifting from hands-on to scalable projects, which helped him build his current business. Aurelian reflected on cash-out refinancing and leveraging, noting the value of infinite returns and the power of real estate as a tool for growth. Each host discussed different strategies for holding and selling properties, with varying timeframes based on syndications, market conditions, or personal investment goals. Aurelien also shared a thoughtful story about helping a family with their dream of owning a restaurant. This insightful episode blended personal experiences, investment strategies, and advice for new and seasoned real estate investors alike! Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere

In this episode of The Real Estate Roundtable, hosted by Glen Sutherland, Aurelien Bonin, and Darcy White, they discuss various aspects of real estate investment, touching on their personal experiences and advice for both seasoned and novice investors. Key points include: Aurelien Bonin's Update: Aurelien shares his recent endeavors, including purchasing a mobile home park and hosting an event focusing on business acquisition and entrepreneurship, particularly in light of opportunities created by retiring baby boomers. Patience in Real Estate: Darcy White emphasizes the importance of patience when entering real estate, sharing stories of acquaintances who rushed into deals and ended up leaving the industry due to exhaustion. He advocates for taking time to understand the market and waiting for the right deal. Avoiding Analysis Paralysis: Glen Sutherland counters Darcy's point by warning against "analysis paralysis," where some investors hesitate too long despite having the knowledge and tools to make a decision. He encourages taking calculated action when the numbers add up. Actionable Steps for New Investors: The hosts recommend self-education, understanding different asset classes, and learning to analyze deals. They stress the importance of using an Excel sheet to assess key metrics like cash flow, cap rates, and cash on cash returns to make informed investment decisions. The episode encourages a balanced approach between patience and taking action, along with building a strong foundation through education and deal analysis. Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere

in this episode of "The Real Estate Roundtable." The hosts Glen Sutherland, Aurelien Bonin, and Darcy White discuss various aspects of real estate investing, from Glen's recent San Antonio visit to exploring larger properties, to strategies on scaling a business and implementing systems. The conversation highlights Glen's experience transitioning from small to larger-scale investments, while also discussing the importance of maintaining diversified investment options. They also delve into how crucial it is to develop systems to turn a real estate investment hobby into a sustainable business. Key takeaways include: Scaling the business: Glen shares how he's integrating larger properties into his portfolio while still maintaining smaller investments. Systems and structure: The hosts emphasize the need for setting up systems and documentation to track activities, delegate tasks efficiently, and focus on high-value activities. Building a business: They explore the difference between investing and creating a structured business, advising listeners to think ahead about hiring professionals like lawyers and accountants, especially once the business begins to scale. Using technology: Mention of software like Buildium to manage properties effectively and the importance of leveraging tools like Loom for training and delegation. Post-project reviews: Glen also touches on his habit of reviewing past actions after closing deals or refinancing, creating checklists to ensure more efficient future operations. The episode also addresses the idea that one can be successful in real estate without necessarily building a big business—small-scale, focused strategies can work just as well depending on personal goals. Invitation for listeners to send in questions for future discussions. If you'd like any deeper insights or summaries, feel free to ask! Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere

This week on "The Real Estate Roundtable" provided a mix of updates from the hosts and valuable advice on negotiating tactics in real estate. Key Updates: Aurelian's Recent Project: Aurelien Bonin shared that he recently closed on a 16-unit mobile home park in Canada. He is also involved in growth strategies for the park, including adding more units and working on road development. Additionally, Aurelian continues his real estate coaching work, with two coaching clients and biweekly group meetings for advanced and beginner investors. Discussion on Negotiation Tactics: Approach Negotiation as Problem-Solving: Rather than focusing on "winning" or beating the other party, both Darcy and Glen emphasized viewing negotiations as a collaborative problem-solving process. This creates a win-win scenario for both sides. Listening and Asking Questions: A key negotiation strategy is listening to the other party’s needs, asking clarifying questions, and finding out what they are truly looking for. This discovery phase is essential to customizing offers that benefit both parties. Creative Deal-Making: Glen shared insights on preparing thoroughly before negotiating, especially when dealing with sellers. He suggested doing background research (like reviewing public records) to be ready with creative solutions, such as seller financing or low/no money down strategies. Offering Multiple Options: Aurelien recommended providing two options during negotiations, which can guide the other party toward choosing the option you prefer while giving them a sense of control. Summarize Meetings: Darcy stressed the importance of sending a summary email after negotiations to confirm what was discussed and agreed upon. This formalizes the progress and prevents backtracking. Mirroring and Tactical Empathy: Techniques like mirroring what the other party says and using tactical empathy (understanding their perspective) were highlighted as key negotiation tools, inspired by the book Never Split the Difference. Audience Engagement: Listeners were encouraged to submit questions through the Facebook show page, and the hosts wrapped up by thanking the audience and promoting the next episode. Join Our Facebook Group & Submit Your Questions https://www.facebook.com/groups/roundtablere