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Georges El Masri [00:00:01] Welcome to the Well Off podcast, where the goal is to motivate, inspire and share success principles. I’m your host, Georges El Masri. Larry Jordan got into real estate when she was 18 years old, and by the time she was 24, she had flipped two properties, did a rent to own, assigned to deal for $10,000 in profit separate land. And she owned nine doors, including a commercial multi-unit building. She’s currently an agent with Keller Williams Co Elevation Realty in Midland, Ontario and an active real estate investor. And on this episode, we talked about her journey as a real estate investor who should be buying a property outright, giving a case example, house hocking in today’s market, buying 56 properties in nine months, how much time she spends on personal development and the difference between average people and achievers. I know you guys are going to enjoy it. I think we had a great conversation. And if you do enjoy the podcast, please leave us a review on the Apple Podcast platform. Five Star would be appreciated and then make sure to subscribe and liker our video on YouTube. And then if you want to connect with me again, we’re looking to get into some larger multi-unit properties. We’re going to be purchasing over ten units this year or targeting these types of properties. So if you want to get involved in that sort of thing, make sure to reach out to me on Instagram while off X or on Wolf dot CA and then contact me through there. There you go. Enjoy the episode. All right. I’m here with Lorraine Jordan. Lorraine’s one of my colleagues at Keller Williams. And you drove down from Midland, was it? Yeah. Cool. Well, it’s great to have you here. I think this is probably the first time we sit down and talk. I think I’ve seen you at events a couple of times and just said hello and whatever. So, yeah, thanks for joining me. I’ll just start off like I always do. Tell me about your childhood, where you grew up. Couple of things you remember.
Lorraine Jordan [00:01:51] Oh, childhood. I grew up in the Midland Pennington area. So actually in Pennington, up in beautiful Georgia Bay got into real estate when I was 18. So kind of one of those things that I don’t know. I love people. I love helping people. I love solving problems and building wealth.
Georges El Masri [00:02:07] Okay. Do you remember anything in particular about growing up in Midland, anything that stands out to you?
Lorraine Jordan [00:02:14] Oh, there’s so many things. I think just kind of the area. The area is beautiful and heading to the beaches and, you know, having picnics and hanging out with friends. I mean, you know, I always used to laugh whenever we my mom would say, oh, it’s too hot to cook today, so we’re going to go for a picnic when your dad gets home from work. And then she would continue to boil potatoes and macaroni to make salads. And I’m thinking, wait a minute, you’re still cooking? Yeah. But when he showed up, we were out the door and grabbing towels and heading to the beach.
Georges El Masri [00:02:45] Yeah, cool. That sounds. That sounds fine. I like those little stories that I hear from time to time. Okay, so 18 years old, you got started. What, like a real estate career.
Lorraine Jordan [00:02:56] Or a real estate career? I was the youngest real estate agent in that area to join the board until recently when I hired somebody that age. Yeah. And investing wise, I bought my first flip property that year. Yeah, I think I was in real estate about six weeks and I saw a really good deal and I didn’t have enough money to buy it. And funny enough, it was a vacant lot. And so I went to one of the agents in the office that I had got to know and said, Hey, this is a smokin deal. I think I could sell it for twice what it’s listed for. So it’s like I was 30,000 and we sold it for 60 or something like that. And so she bought it with me. We, I, but the day after it closed, I sold it for double. We split the profits and did my first job well. Probably about six months later I did a rent to own. I didn’t even know what it was, just made sense. Somebody had some money, somebody needed to sell. I put them together and did a rent own. And this is going back many. Yeah, many years ago.
Georges El Masri [00:03:54] Wow, that’s so cool. So how did you have the confidence to do your flip like that? Just getting into the business, having the confidence to know, okay, this is what it’s worth. I’m sure I can sell it for this price and taking on that risk.
Lorraine Jordan [00:04:06] I think it’s just I if I look back, I was just I’m strategy, right? I, I believe I see things that not everybody sees. And, you know, there’s a logical part of my brain. I mean, I have creativity, but there’s also this logical part that just goes, well, wait a minute, these are selling for this price. This property just got listed for last. I know I can make this happen, but.
Georges El Masri [00:04:25] A lot of people have that logic right and they see it, but not a lot of people have the courage to actually act on it.
Lorraine Jordan [00:04:31] I guess I’m maybe a little brave. Yeah. Even at 18.
Georges El Masri [00:04:36] Yeah, for sure. I just started I started selling real estate when I was 23 and I was just like this kind of arrogant guy who thought I was going to have the best year ever. I was going to beat everybody in the office. And life just kind of smacked me in the face and said, no, that’s not going to happen. And just a little taste of humble pie. But anyways.
Lorraine Jordan [00:04:56] Nothing wrong with humble pie.
Georges El Masri [00:04:59] Yeah. So. Okay. So let’s talk a little bit about what you recently experienced. You said you were speaking at an event and a lady who was 70. You said 70.
Lorraine Jordan [00:05:09] Years. Yeah. She was in her seventies.
Georges El Masri [00:05:10] Yeah. And she just said to you, it’s too late for me to get started. For anyone listening now feels like it’s too late to get started. What was your advice to that.
Lorraine Jordan [00:05:18] Was kind of an interesting group. It was high net worth people, a lot of different people with experience and different things. And, you know, everybody was going, Oh, I could do this or I had this happen. And they were sharing different stories and, you know, a little skeptical because of the market and the conditions right now. And then just out of nowhere, this lady said, well, I’m in my seventies and it’s too late for me now. And I said, Well, it’s funny you would say that because I said, I’ve had a couple people where, you know, they lost money in the stock market and she was like shaking her head. Right. And you know who your investments are, you know, a little depleted. And I said I had a few people actually go; you know what? Enough of this. I can see a house, I can feel a house, I can touch it like it’s not going anywhere. Even if the prices go down, it’s still there. So they purchased something outright. So I said, you know, if you took your money out and I know how much money you have saved, but if you took your money and you put it in and you bought something outright, which, you know, makes me cringe a little bit because I always think, you know, leverage. That’s the beauty of buying investing in real estate. But if you bought it outright, which is what they did, they knew that they were making $10,273 a month rent. Right. So that was the income that that money was producing that that made sense to them. There’s that logic piece, right? So somebody piped up right away and said, as I said, so there’s no risk because there’s no leverage. So there’s no risk. And somebody piped up and they said, Wait a minute, wait a minute. What if one of the tenants doesn’t pay? There’s a risk there. And I said, if you buy a building that the investors don’t want, right? So you’re paying cash for something that we call it an underperforming asset, right? So the rents are low. So let’s say you buy a ten plex or an eight plex or whatever it is, and everyone’s paying $700 a month and today’s rent is 1700 dollars. Those people are going to pay rent. Yeah. Because anyone get kicked out.
Georges El Masri [00:07:04] Oh yeah.
Lorraine Jordan [00:07:04] Right. So they’re sticking, they’re hanging in there. So the chances of you not getting paid rent one day is maybe because somebody passed away or somebody moved out and family’s just figuring stuff out, but now you’re going to have an empty unit that you’re going to get $1,000 more for. So you’re making $11,000 a month, and that’s just going to increase over time. So, you know, if you’re looking for a strategy to pay for a retirement home living that you’re worried about, like that’s a pretty cool one.
Georges El Masri [00:07:30] Yeah. So you get yourself a ten plex or something or actually this one would have been probably a little bit bigger, right? And then if you were to go like a regular investor, you were to go maybe make an offer on this while you’re not getting financing, probably because you unless you have a huge down payment, but someone in that situation, if you’re paying outright for it, then no problems.
Lorraine Jordan [00:07:50] Well, in one of the right and one of the things that we’ve seen over the past few years is I’ve had people go, oh, yeah, you know, my building’s worth this much money because, you know, I got like 12 offers on it. Well, we’ve also all seen in the last few years were those 12 offers. Sure, they accept something that’s high, but then you see it on, you know, social platform the next day where they’re trying to wholesale it. Yeah, right. They don’t, they didn’t have the buying power like out of 12 offers there might be two people there that could actually buy it. Well, you show up with a cash offer conditional on a home inspection for two days or three days, like there’s some buying power there. You know.
Georges El Masri [00:08:24] Did it take a lot of convincing to get this lady to actually buy the property or was she just motivated? And you felt like, oh, yeah, I know, I’ve had a.
Lorraine Jordan [00:08:32] Couple people do this. And it was actually last night that this lady came up with it. So I haven’t sold her anything yet. Okay.
Georges El Masri [00:08:37] Yeah, yeah, yeah. Well, you’ve had. Yeah, you’ve had about a pop. I kind of ask you about the strategy. I think it makes a lot of sense because let’s say you’re putting in, I don’t know, like 1.5 million. You’re getting ten grand a month. So what is that about 120 grand a year, 120 grand on 1.5 million. It’s a pretty decent return just. Just for her cash flow. Yeah, it’s probably better than what you’re getting in the stock market in terms of like, if you have a mutual fund or something.
Lorraine Jordan [00:09:02] But the risk. Right, the risk is so low on it. Yeah, but it’s funny because we don’t think that way. We’re always thinking leverage like 5% down of your first time buyer. Can you get away with that or you know, owner occupied or 20% and we’re always looking for that leverage. I mean, like I cringe the first time I did this because I wanted them to buy two properties. Right. Just of course, leverage is still amazing, right? 50% loan to value would be incredible. But I had people do it and it’s what they felt comfortable with and yeah.
Georges El Masri [00:09:33] Cool. So let’s talk a little bit about another opportunity you mentioned. So you were talking about a place in Richmond Hill that you were looking at. So it was a beautiful neighborhood. There was a six plex on the market and nobody really wanted this property. Kim, tell us a bit about that situation.
Lorraine Jordan [00:09:47] So one of the things that absolutely drives me insane right now is, you know, everybody’s story around, oh, my God, oh, my gosh, you know, there’s not one of my kids going to buy, you know, affordable. For first time homebuyers this crazy like, what do we do? And I’m like, oh, like buy a six plex. You know, we do have a lender that will finance a six plex as a residential. So that’s pretty easy. And I remember this one property was in Richmond Hill. It was a beautiful neighborhood, like one off in the middle of this neighborhood. It was a six plex. It was like 2.5, 2.6, something like that. And I showed it to investors going like, this thing is gorgeous, but it was underperforming. You know, the rents were seven, 50, 800 bucks a month. And I thought, wow, as a first time home buyer, they could go in, they could secure the upper floor and take two units, you know, renovate them and then, you know, but they preferred, if it’s two years later, not one, you know, move into another unit and do the same and then just, you know, turn the building.
Georges El Masri [00:10:43] Over for sure. That’s an awesome opportunity. And like in case somebody doesn’t know if you’re buying a proper a tenanted property and you plan on living there and you like you’re not flying, you’re actually going to live there, right? You can remove the existing tenant and move in yourself. So that would be a benefit in that scenario if it’s really underperforming and you can probably take out the unit that’s getting the least amount of rent or whatever and kind of live there.
Lorraine Jordan [00:11:08] Right, exactly.
Georges El Masri [00:11:09] Yeah. Yeah, that’s a great idea. And I was hocking.
Lorraine Jordan [00:11:12] Oh, I mean, there’s so much opportunity for that everywhere right now.
Georges El Masri [00:11:15] And the lender you’re referring to is the RBC. Yes, yeah. RBC. I think Desjardins will do it as well. Right. So those are the two that I’m aware of. But yeah.
Lorraine Jordan [00:11:24] Meridian’s kind of iffy sometimes. They yeah, yeah. They’ve had a lot of change recently, so. Yeah.
Georges El Masri [00:11:29] And some lenders will do it if it’s in your personal name, they won’t do it. If it’s a corporate corporation, RBC will do in a corp. So that’s a good thing. Okay. So let’s talk a little bit about your journey, your investment journey. So you’re an investor yourself, correct? You’ve been doing it for a long time, as you mentioned. But you told me before we started recording that you bought 56 properties in nine months. Yeah.
Lorraine Jordan [00:11:53] It was a fun journey. It started with 20 and 20 days, which was kind of crazy because what happened was we studied a market and I have a really great mentor and client and friend and partner. I mean, a lot of people know Mandy the J.V. Queen.
Georges El Masri [00:12:09] Yeah, Mandy Branham. She’s been on the podcast a couple times.
Lorraine Jordan [00 :12 :12] Oh, yeah, yeah. Love, Mandy. So I started working with Mandy and years ago, and then I said, You know, I really appreciate you buying all these properties in this area and I love working with you, but I want you to diversify your portfolio. And so what do you mean? I said, Well, I think you should buy in different areas. So she bought some properties in Kingston, St Catherine’s, Hamilton up in the mountain, you know, and they were good deal. And we had researched this other area and we had researched actually up in Sudbury, and so we went back and forth and she said, Well, I’ll go to Sudbury if you want to come to Sudbury. And I said, I’d love to come to Sudbury. So we did the homework. We went up there, we bought 20 properties and 20 days actually was September 2020. And yeah, I never looked back. I mean, you know, there was definitely some stress involved there. I mean, we had a lot of offers in and then we were finding our JV partners and helped a lot of people build some wealth like, you know, single family, single mom, two kids or three kids by up there. And we had one young couple. They owned no investment properties. Now they have 12 doors and like nine months. They’re like, we met you and now we have 12 doors. Like, this is crazy, right? Um, so just, just making an impact on other people, which was really, really fun to do. I mean, you know, not without some little bumps here and there, but stuff that we learned and I’m really big on. I don’t like doing. I don’t like having or suggesting somebody does something that I’m not willing to do. So, for instance, when Mandy was first buying a lot of properties and putting basement apartments in, you know, there were lots of people doing it. There was so many people fighting over all the bungalows in the area. So I had a two story home, so I did an up and down in that, and then I did a front and back and I tried different things. And then when I learned, you know, it’s like, Oh, I got to watch the hydro in this one. I never thought of this or, you know, there were certain things I learned. Then I could pass that on to somebody else.
Georges El Masri [00:14:06] Yeah, yeah, yeah. Well, it sounds really cool when you say you did 20 properties in 20 days, but I’m sure there was a lot of kind of preparation that went into that. Or did you just go in and put the offers and then figure the rest out?
Lorraine Jordan [00:14:17] No, there’s a lot of research. I mean, you know, the average income up there is like $84,000 a year, which is huge for, you know, for the price range. There were there’s three schools. There’s a lot of employment. The hospital, it’s the health care hub. Like there was a lot of investment time put into it before we went up there and started doing our shopping. But the goal was we had did so much prep that it was like we went crazy right off the bat because I also know what it’s like to come from I mean, it’s a city, but it’s still kind of small town. Everybody knows everybody. So it didn’t take long before everyone was like, What the heck’s going on? And then prices started going up, right? So that the 250 do. LAX was now like closer to three. And, you know, they kind of saw this coming and yeah. Tried to gouges for more money. You got to do it fast.
Georges El Masri [00:15:07] Yeah. Um, so in terms of preparing capital for that kind of thing, is that something you guys had, like a bunch of partners lined up to do these 20 deals and 20 days or did you secure the deals and then find the capital?
Lorraine Jordan [00:15:21] A little bit of both. I mean, we both were confident that we had some people that would be interested. I mean, Manny has an incredible track record. I mean, I’ve been in real estate for many, many years, so definitely people that would follow me as well. So kind of the combination of the two of us. Um, yeah. And that worked out super cool.
Georges El Masri [00:15:41] As a, as a realtor, have you found success in doing deals with your clients as in joint venture deals with, with some of your clients? Or do you try to separate do you tend to separate your clients from your joint venture partners?
Lorraine Jordan [00:15:52] I separate, like for the most part, like Mandy Mendez, my number one client. I mean, she’s purchased I think she’s somewhere around 170 properties over the years. And I mean, she’s gone away on, you know, at Christmas time on holiday. And I’ve put in an offer on a property to buy it. And when she gets back, I show it to her and she’s like, Well, what are you thinking? I said, my, it was a good deal. So I bought it and said, Well, do you want? And I said, If you want it, it’s yours. Like you’re my priority. So I’m really big on not mixing that. You know, it was different to do it with Mandy and you know what I mean? Have that set up for the client. So it’s like they’re investing that way. Um, I’ve done a, a nine plex, Mandy, and I own a nine plex, and then we did a ten plex bir, which was fun, like right down to pretty much the studs and rebuilt it. I mean, I think we have, we bought the ten plex for seven and change and I think we have 1.2 and it appraised for 2.3. So that was pretty cool deal. Now we’re looking at larger properties and I have a couple different partners. So now it’s the, you know, I’m looking at building a 72 unit and yeah, just looking at large, large Maltese many, many years ago I asked somebody who was very, very wealthy investor and I said to him, I said, you know, what’s your advice? I own a couple of investment properties. My original goal was to buy ten investment properties. And in 20 years, you know, because I would pay them down quicker in 20 years, I would, you know, cashflow $2,000 a month for each one profit and maybe they never went up in value or whatever. But I would make $40,000 a month after I paid tax at $20,000 a month to live off of. And that was my original dream. And then now dreams kind of get bigger when you start doing, you know, cool things. So when I look back at all the different properties and, you know, doing it with different clients and stuff, it’s like, Oh, I’ll create opportunities. I’ve sold people just duplexes on their own that they’re willing to. I’ve connected people to Mandy of connected people to other investors that were a match. And yeah, it’s just a matter of being upfront and helping people and meeting them where they’re at.
Georges El Masri [00:18:01] I have a bunch of questions. Just ask you the first one, which is How did you meet Mandy in the first place?
Lorraine Jordan [00:18:08] So for all you real estate agents out there and especially your Keller Williams ones that go to bold, I kind of made a comment about the script at Bold. And you know that the one that we use that I’m in a contest and you know, you call your friends and you ask them who they know that you could help in real estate. And my coach challenged me to use the script word for word, and she said, you can’t change it. You can’t make it anything different. You have to use it word for word because it works. And I said, okay and said, you need a book to appointments. So I started making phone calls and you know, I called the first person and of course I called friends of mine, right? So they’re like, Hey, Lorraine and I go, Hey, may I speak to Amanda, please? And they’re like, Hi, it’s Amanda speaking. I said, Hey, Amanda, it’s Lorraine calling from Team Jordan. You know, I don’t want to take a lot of your time, but I’m in a contest and I need to know. Right. And who do you know that’s thinking of buying song, that kind of thing? And, you know, I said it kind of silly. They knew it was silly, whatever. So the second call was a friend of mine and she said, Oh, you need to meet my friend Mandy. And I thought, Oh, I remember her talking about Mandy. Mandy said she wanted to own half a midland and I’m sure I rolled my eyes going, Oh, you’re right. But I needed to book appointments. And I did. And the rest is history. Wow. Mandy and I hit it off and I loved Mandy. There was a lot of investors, but what I loved about Mandy was she was really big on like if there was a senior upstairs and she renovated the basement, she’d put a senior in the basement. Like she’s always about community and people and you know what I mean? I like to make money, but not at the expense of anyone. It’s always people first, right?
Georges El Masri [00:19:47] Absolutely. That’s fascinating how you end up meeting somebody you’ve done so much business with who’s probably a good friend of yours.
Lorraine Jordan [00:19:55] Absolutely.
Georges El Masri [00:19:56] Following us. And being introduced from a friend. Yeah. It’s cool how life works. Yeah. So you mentioned a bunch of things when a couple minutes ago you were talking about the ten plex that you did that you bought for 700 and change, you said. Can you tell us a bit about that one? I know you broke down the numbers briefly, but where was that property? In Sudbury. In Sudbury, it was a ten unit building in Sudbury.
Lorraine Jordan [00:20:17] It was awful like they were shoveling like needles out of it. It was it was really rough when we bought it. So we, you know, work through getting tenants out and, you know, re-allocating them to other properties that we owned and, you know, just being respectful. They’re all people. And then, yeah, we brought in a crew and did some renovations and had a great partner there. Gee, that was wonderful. And yeah, renovated it all and got the appraisal on it.
Georges El Masri [00:20:47] And so you mentioned the figure 1.2 million. Was that what you ended up spending? You spent like, let’s say 500,000 to renovate, is that right?
Lorraine Jordan [00:20:58] Yeah, we’d be we’d be probably closer to six on that. All in.
Georges El Masri [00:21:03] Yeah. And then you’ve got a priest at 2.3 so you’re able to basically draw all the cash. Was that, um, was that a privately funded deal or is that something.
Lorraine Jordan [00:21:11] We did a privately funded and we just went through that CMHC wonderful process. We’re just at the tail end of that. That’s yeah. And that’s a reason why I would buy a larger building. So, like, that guy, I, I guess I missed that. The guy told me his advice was if you bought a $500,000 duplex and in 25 years from now, like the prices were the same, you did nothing. Whatever you took the 25 years he goes, it would be a $500,000 paid off asset if you bought a $5 million building today and nothing changed and you just paid it off in 25 years, you’d have a $5 million asset. What would you prefer?
Georges El Masri [00:21:47] Of course. Yeah.
Lorraine Jordan [00:21:48] And I’m like the 5 million, but like, where do you start? Right. Well, you start like proximity is power. Who do you know that’s doing that? Like Sandy MacKay and Dylan Suter are very good friends and partners and different things and you know, they’re brilliant when it comes to that.
Georges El Masri [00:22:05] Yeah, I never actually thought about it that way, but that’s a good point because your mortgages are set up for usually 25 to 30 year amortization. And with CMHC, you can go up to 40 years. So yeah, if you’re paying off this the asset in that time period. So like you said whether it’s 500,000 or five, no, it’s getting paid off. So it’s a good point to look at. That was just when you were talking about a $5 million asset. You’ve got to think more. You’ve got to have different connections. You’ve got to have different goals. You’ve got to have the courage to go after that. You’ve got to raise more capital. So I think that’s what holds a lot of people back.
Lorraine Jordan [00:22:39] I think it’s different relationships, like even the people funding them. It’s like, okay, that’s nice. You’ve raised 20% or 30% even, but who are you to buy this? Right. See me? See, wants to see that you’re not going to be a slumlord, that you’re going to take care of it like they’re getting really particular on that. I, I find anyway that they’re looking for people that are vetted and you know, can actually afford it if the roof needs to be done or I mean, you know, a sewer line gets backed up. I mean, that could be a couple hundred thousand dollars in a multifamily building. Yeah. So, you know, are you that savvy investor and are you almost like that accredited piece? Right. Are you accredited? Can you do this? Can you pull it off?
Georges El Masri [00:23:19] Yeah, I guess there are a lot of landlords that don’t take great care of their properties and I’m starting to notice it more because all the people I know take great care of their properties because they’re all like professional investors for the most part. So yeah, it’s interesting to see you do have to protect both sides, so it makes sense. You mentioned the 72 unit building, so can you tell us a bit about that?
Lorraine Jordan [00:23:39] I have a client right now that we’ve been working hard up in Midland. I mean, gosh, it’s been probably three years we’ve been working on it. And yeah, we’re looking to build a 72 unit apartment building, so I’m excited to be part of that.
Georges El Masri [00:23:54] So you’re building it from scratch.
Lorraine Jordan [00:23:56] Okay, so we’re playing with the financing because it’s all about the exit strategy.
Georges El Masri [00:24:00] Yeah, yeah.
Lorraine Jordan [00:24:01] Right.
Georges El Masri [00:24:03] You’ve done so many, like, pretty incredible things. What, what’s allowed you to do this? Like 56 properties in nine months? That’s a lot. Not a lot of people would take on that. Kind of like you’re probably one in a million. I would think that I would do something like that. So what makes you feel like you can do this? What has shifted in your mindset? How were you able to accomplish such a big feat?
Lorraine Jordan [00:24:27] Probably goes back to a few. You know, like I said, my goal was 20 houses, but that was my original plan. I went to the big investment seminar in Toronto and I saw all these people from my Tony Robbins world, my John Maxwell, my Philip McKernan, you know, Archangel. So all these personal growth places, right? I’ve also done mission trips and I saw a couple people there that I’ve been on mission trips with. I’m thinking, what are you guys doing here? Like, I didn’t know you’re an investor and you start having these conversations. And these are all incredible people that want to give back, right? They want to make a difference. I want to make an impact in the world. And they were all there because they wanted to learn how to, you know, buy investment properties that would cash flow to replace their income so that they could pursue their passion projects. And I was like, I was just so moved by that. And I thought, wow, you know, so two of the things that I’m really, really passionate about is doing real estate better. I just feel that that bar could be elevated. You know, when an agent says, Hey, this is a really great property, you should buy this. They should be willing to buy it. Like put your money where your mouth is. So doing real estate, better zone number one. The second one for me is creating income for life so that you have the freedom to live your best life. So to me it’s like, you know, I don’t know. I just look at it like it’s almost like throwing that pebble in the water and that ripple effect. If I can help people replace their income, if that’s $3,000 a month, 4000, 10,000, 20,000, whatever it is, so that they take that leap of faith to maybe, you know, do something that they wouldn’t have done, make an impact, become a life coach, you know, go volunteer, build a school somewhere, then I just think that’s really, really cool.
Georges El Masri [00:26:07] Yeah. And what I’m hearing you say, well, I think there’s this kind of idea sometimes that people will only do joint ventures because it benefits them. Like you as the active partner, you’re doing it because you’re raising capital and it’s beneficial for you. But like you said, a lot of times it’s very beneficial. It’s actually more beneficial for the person that’s providing the capital or the passive partner because they’re getting to kind of ride the wave and take advantage of all the things that you’re doing there to grow the portfolio and to get that cash flow and all that. So I’m sure it’s a motivating factor, like you mentioned, to be able to help others through joint ventures.
Lorraine Jordan [00:26:43] Well, and I mean, in all fairness, kind of one of the things that happened that year was I mean, I have a large team. We do like 400 transactions a year. I, I usually do 100 transactions. So in 2020 was my year that I was going to focus on growth and that whole we do real estate better. I wanted to go get more real estate agents and bring them into my world and teach them what I knew, right? I had a great career and now it was time to pass it on. And COVID hit, you know, I lost a few people on my team and there was just things happening. And at the time, my VP of sales kept saying, like, we need you to go sell again. And I’m like, But I wasn’t supposed to do right, like help me run this. Like, what’s another solution we can come up with? And she kept pushing and you know what she said, Well, just do 50. It’s like it’s June, it’s just do 50. Okay. So I thought, I don’t know, I don’t do really well with people being the boss of me. So I thought, Oh yeah, I’ll do it my way, I’ll buy 50 investment properties, right? So that’s kind of where that came from. So I set it up, I worked it out, you know, I was helping Mandy, you know, build more wealth that we’re helping other people build more wealth. I was learning more, growing more so I could share that opportunity. And yeah, it was just a win for everybody. So the other thing was like, I still sold the hundred over a hundred properties personally that year. And the interesting thing is I took Sundays and Mondays cause I thought, well, I can give up one weekend day and I could give up potentially one day a week. And, you know, I never thought I could take two days off like I, I work a lot of hours. I’d love what I do, but I was able to do that and, and until just recently, I was up there every single Monday. Now we have like an incredible, you know, property management person manager in charge and the handyman. And we have a team and all our assets are nicely stabilized. And so now it might be like once a month, but I go up and some phone calls in between, um, man is amazing, you know, being part of that world because she’s run a property management company for years. And then, you know, there’s parts that I give to her, there’s parts she does more of, and that’s what a partnership is. Yeah.
Georges El Masri [00:28:56] I’m sure some of the people listening to this feel like, Oh, this must be so easy. Like you’re selling you’re selling 100 plus properties a year and you purchased over 50 properties in a year. So easy. But even I’m thinking that like, you make it sound like it’s how did you do that? That’s the thing. I how does it come so easily to you or does it?
Lorraine Jordan [00:29:19] So, first of all, I think I’m the luckiest person I know. So there’s like I just it shows up because I believe that, I guess. But January 20, 21. So there was actually a third partner with us. And unfortunately, you know, roles, whatever, it didn’t work out. And we had nine closings that weren’t going to close. He had he had supply deposit money. He was walking away from the deposit like he wanted his deposit money. He was walking away. And, you know, honestly, probably the hardest month of my life just stressing over, you know, managing well, I don’t know, I guess. We just can’t close it. So we can’t not close on nine properties. That’s called fraud, you know, and the partner was leaving. We had to come up with a hundred grand. I refinanced my house. We had to close on a $300,000 duplex cash. It’s funny because Mandy sent me the email when that was all breaking down yesterday and said, Man, we’ve come a long way from that month. And honestly, it takes a lot for me not to sleep at night cause I feel I always make decisions that are right for our people. And I was not sleeping. Like, I just felt like I was going to throw up for probably a week until it’s like you just go into action and you know, when you go, it’s funny because people always say that like what you said is something I’ve heard so many times. You know, you make it look so easy. It sounds so easy. And like I said, I feel blessed. I feel fortunate. I feel, you know, grateful, whatever. But, you know, Tony Robbins recently, he was talking about how, you know, when you get squeezed like that or you’re really under pressure and you come through it, it’s like every time you come through adversity, you grow and you become stronger. And I, I guess maybe there’s a lot more adversity there than when I’ve realized that have made me stronger over the years. And, you know, I just go like, what’s the solution? You know, I don’t care what the problem is, what’s the solution? And I go into strategy like, okay, I can go refinance this cause I don’t all this and pulled out some money and just made it happen.
Georges El Masri [00:31:14] I think I feel the same way when I get into those situations where it’s like high stress. The only thing that calls me down is action. Because I feel like if I if I don’t do anything, I’m going to go crazy, so.
Lorraine Jordan [00:31:27] Well, yeah. And people will say, oh, you don’t, you know, you didn’t celebrate like, oh, this just happened like you barely celebrate. I said, right. I didn’t celebrated. I went, Oh, that’s great. And moved on. But I do the same if something bad happens, like, oh, someone just backed into my car. Oh, shit. Oh, well, right.
Georges El Masri [00:31:43] It makes sense.
Lorraine Jordan [00:31:44] So same thing. But I mean, I look back and, you know, I’ve, I’ve known a lot of people and I’d have to say that nobody did this without struggle. I remember somebody going through a lot of trouble. And, you know, I remember just basically calling them like a big baby and like, oh, my God, like, ooh, we can have a little pity party. Are you going to cry today? Like, and really pushing them? Because I needed them to believe that there was a solution and that they needed to step into their power and go find it. That’s what I could offer them.
Georges El Masri [00:32:15] Yeah. Yeah. Okay. You mentioned a couple times Tony Robbins and some of these other some of these other, I guess, people that you follow. How much time do you spend on personal growth? Personal development?
Lorraine Jordan [00:32:28] A lot.
Georges El Masri [00:32:29] Yeah.
Lorraine Jordan [00:32:29] Yeah. I’m actually a Tony Robbins plot member and I have a few friends that are down there that are plots and now I mean, and even more friends. So I’m at a Tony Robbins event now, like, I don’t know, probably eight times a year plus there’s online programs. Huge, huge fan of anyone who wants to go, please reach out because we have tickets. We still have a few tickets left set aside for you. P.W., that unleash the power within the one where you walk on fire. Such an amazing event live in November. So we just have some that we put aside for friends and colleagues and teammates and stuff. So if anybody wants a good deal on those, reach out because I think we have them for maybe like the rest of the week or something. I don’t know.
Georges El Masri [00:33:15] That happening in Toronto.
Lorraine Jordan [00:33:17] No, West Palm Beach.
Georges El Masri [00:33:18] Yeah, that’s where happens every year a while.
Lorraine Jordan [00:33:20] And he used to do like six or seven a year before COVID. He does one a year now. And I just look at it like, honestly, it could be his last because he does online and he has a massive following online now like he’s got it the reach that he has and yeah, it’s pretty amazing.
Georges El Masri [00:33:35] Okay, cool. I might reach out to some of those tickets. Sorry, two of those tickets. My wife and I will probably come.
Lorraine Jordan [00:33:41] Oh, it’s so much fun.
Georges El Masri [00:33:42] Yeah. Okay, cool. So, yeah, lots of time. Aside from Tony Robbins, do you do anything else for personal development?
Lorraine Jordan [00:33:50] Archangel is this week in Toronto. This weekend. I love Archangel again. Something that I’ve been going through ever since it started. I haven’t missed one. It’s just a bunch of different speakers. Check it out. It’s pretty cool. I do have access to some good deals on tickets, so if you’re interested in showing up for that, it’s always been very inspiring. One of the guys that I saw there was Phillip McKernan and I’ll never forget he his comment was everybody has something to share with the world. So if you found out that you had like 2 minutes, two months to live, what would be the 15 minutes that you’d want to share with the world? And I thought, wow, that’s pretty profound, right? Like, man, don’t know what can you give back? What impact can you make? And that helped me with that other part where it’s like, what if we could unleash everything that people are feeling or thinking or wanting to share onto the world? What would that be like? So yeah. Philip McKernan John Maxwell I do leadership stuff with John Maxwell. I’m a certified trainers coach, whatever with them, and then I’m part of Gary Keller’s mastermind. So that’s that top 1% with the. Yeah. So that’s like four times a year. I’m usually in the room with them and just the people there again. Right proximity. It’s all I don’t I don’t know. The conversations that you have with people at that level are just it’s amazing. It never ceases to kind of blow my mind. You know, we just did an event. There’s a coaching company that I’m part of with Sean Provence. It’s called Flip Space. It’s really cool. And when we went to Mega Camp, we went out floating on the river. Right? And here we are talking about investments and multifamily and all of that kind of stuff while floating down a river, hanging out in the sun, you know, just having a great time. And the one guy’s like, This is just so amazing that here I am. I signed up for coaching. I decided to go on this event, you know, and here I am floating down the river, getting this whole coaching conversation. That’s a four hour float. Yeah. On how to do investment properties like. Well, what an amazing opportunity.
Georges El Masri [00:35:56] So you’ve seen a lot of different people through the different groups that you’re in. What do you think separates most average people who are getting average results from the people that are achieving extraordinary things?
Lorraine Jordan [00:36:09] So we always love Tony Robbins. World is outstanding, right? So outstanding as people that stand out. So I believe, you know, I used to believe that the world was like 80, 20, you know, the 8020 principle. I think now it’s 8019 and 1%, 1% are willing to do what it takes. So I’m a big believer in Choose your hard right. Do you know, people are like, oh, I don’t want to go do this. That looks hard. Okay. But, you know, having money so that if somebody is ill in your family and you have the opportunity to go get surgery or, you know, a needle or whatever for that family member to save them or, you know, help them with their health, what’s, what’s hard sitting by and being helpless or you know, providing that opportunity.
Georges El Masri [00:36:54] Mhm. Yeah. It’s, it’s true like I guess what you’re saying is just doing the hard things about what’s, I think it’s zig zag where it says if you do what’s easy life will be hard. If you do it’s hard, life will be easy.
Lorraine Jordan [00:37:07] Beautiful.
Georges El Masri [00:37:08] Yeah. Yeah. So there’s no secret to it. It’s just, just, I guess over.
Lorraine Jordan [00:37:13] Think it’s action, right? It’s action. When I look back at it, I mean, you know, the people that I know, there’s a lot of people that talk about what they want to do and then there’s other people that do it right. So you can stand by and watch it or you can just go after it, make it happen. You know, I always laugh. You know, Dylan, Dylan and I met he was only six months in the industry and he just kept bugging me. We were at Family Reunion, Keller Williams event. He kept bugging me all week to coach him. I’m like, I don’t coach people. And he’s like, What do you mean you don’t coach people? I said, I don’t want to talk to someone. And you know, they asked me what they should do or we talk about it and I give them a solution. And then the next week it’s like, Oh, they didn’t do it. Like not interested in doing that. That’s exhausting to me. So he goes, Why don’t you mentor me? And I said, Well, what’s the difference? He goes, Well, one, you don’t charge me. And he kind of chuckled and he said, just, you know, like just share stuff with me once in a while. And if I do it, then keep sharing. And I said, okay, fair enough. And I mean, he is in his twenties at the time. And I said to him, you know, call me at seven on Friday. And I never thought he’d follow through on it. So he called me for a few months and you know, at one point he goes, Nobody believes me that you do this with me every week. And he says, Why do you do it? And I said, Because I get a chance to do a do over, right? Like I’ve made a lot of mistakes, tons of them. I would love nothing more than to help somebody not make the mistakes like, Oh, that’s a bad idea or This is a bad idea, that’s a good idea. So yeah, we started doing it. And then the funny thing is he the one day he’s like, Oh, sorry, I slept in, was out late last night or something. And then the next week something else happened. And then the following week he called and I didn’t pick up and like he sent me a text or whatever saying, you know, pick up. And I said, sorry, you’ve been replaced. And I had somebody else in that timeslot. And he called me for like three months every Friday until she missed that call.
Georges El Masri [00:38:59] Oh, wow.
Lorraine Jordan [00:39:00] And he got his spot back. Wow.
Georges El Masri [00:39:02] Yeah, that’s really cool.
Lorraine Jordan [00:39:03] Yeah. And then eventually he just kept growing, and then he kicked my butt. So then I have to step up and, you know, can’t beat them, join them. So. Yeah.
Georges El Masri [00:39:13] That’s awesome. Yeah. I find that just from personal experience, if you have a really good coach, they’re not really doing it for money. They’re even though it’s good, good coaches get paid quite a bit, but they’re doing it more to give back. And that’s the really cool thing about looking out for a coach. But like you said, they want to see you take action because it’s I guess it’s fulfilling to see somebody do the things that you tell them to do and it’s devastating when they don’t.
Lorraine Jordan [00:39:39] Well, and you’re busy, like the reason why a great coach still has to charge you money because they’re there’s a per hour value that they that they bring, that they earn, that they’re bringing for other people in their lives. Like, you know, hey, it’s about opportunity. Like Sandy MacKay. I always laugh, you know, Sandy MacKay was when I first met him, you know, he’s I remember some comment that he had gotten three listing appointments. So I don’t want to do this and I’m going to build a team. And I remember thinking like, who are you to build a team? But I mean, you build a great team and, you know, through investment. And he you know, when I look at it, a lot of people joke around that Sandy’s all about, you know, who can do it because he’s not doing it. He’s always looking for the talent that he can put in the seat to do it. But if you stop and you really pay attention, Sandy is all about creating opportunities for people like he’s building wealth for people, he’s impacting lives and it’s just a beautiful thing. Like, I love it.
Georges El Masri [00:40:34] Yeah, it’s all a lot of it is mindset. Like, I got a haircut yesterday and the barber just kept like this. I feel like I don’t want to go anymore, but it’s so convenient. He’s just coming up with all these reasons about the interest rate hikes and how are people going to afford anything today. And just like all this negativity and a couple of months ago was like before the rates went up and all that, it was like oil prices are so high. How can people it’s always the same thing, right? There’s always a reason. But if you just change your mindset, you can open so many doors.
Lorraine Jordan [00:41:06] Right? I mean, you could look at the big dark clouds or you can look at the silver lining. Yeah, right. There’s always a benefit. Always.
Georges El Masri [00:41:13] Yeah. So I really enjoyed this conversation. Do you feel like there is any last bits you want to share with anyone, any words of wisdom, anything like that to anyone listening? Well.
Lorraine Jordan [00:41:26] We had a gentleman just purchased a duplex recently and that same duplex would have been 700,000 back in February. And they got it in the fives and the numbers work. You know, originally bought it, it was it was going to cost 200 bucks a month that we talked about. You know, do I kick out the tenants? You know, do I move in? Do I do this? And I said, you know what? The terms have been there for five years. You got a nice solid asset they’re paying. So what if it costs you a hundred bucks a month? Like it’s not the end of the world, it’s a great property. You know, the windows are good. The run over like it was structurally, it was a great property. And yeah, he hasn’t even closed yet and the tenants upstairs gave notice. So now he’s going to cash for 400 bucks a month.
Georges El Masri [00:42:09] Yeah. That’s, it’s always nice when it works out like that.
Lorraine Jordan [00:42:12] Right. And you just talked about that negativity. It’s like, you know what, if you live in fear, you’re going to be around fear. If you live in abundance, you’re going to attract abundance like this guy lives in in abundance. He attracts it, you know? You know, we talked about it same as it’s mindset. It’s like, what’s the outcome you’re looking for? Set the outcome. So for instance, we are talking about door knocking because he’s an agent and he, you know, he said, I don’t know, I just get a feeling like this is a street. I should go door knocking because somebody wants to sell here and I just go meet them. And I said, you know, I’ve never been door knocking without booking an appointment. So it’s like, what’s the outcome you’re looking for, right? And it’s, it’s same as, you know, people are like, Oh, I want to buy a duplex or I want to buy an investment property this year, or I want to make X number of dollars selling real estate. It’s not about the goal, you know, here. It’s about who you become on the goal. But it’s the commitment to the person being the person that achieves that goal. So if you’re an investor, what are you doing to learn about investing? Who are you talking to? Who are you with? You know, are you partnering with somebody that can teach you more about it so that, you know, you learn from it? And then some people are just busy, you know? So, you know, we actually have an investment fund that we just started. And, you know, we’re looking at much larger properties and now somebody can just put their money in and now it’s split over several properties and it’s just that much easier and less risk.
Georges El Masri [00:43:34] Yeah. Yeah, I was I was thinking about that, too. I think another big factor here is thinking big because I don’t know why I it seems like a lot of people, including myself, have a tendency to like to limit our goals or what we believe is possible. But then when you unleash your mind, I think you can accomplish so much more and you start drawing the people in and the opportunities seem to come more. You just got to let yourself go.
Lorraine Jordan [00:43:58] Oh, yeah. I mean, you know what the mind can conceive and believe it can achieve. So I was seven years, I think, doing 179 transactions every year. And then one day because I mean, I live in a small area, there’s 20,000 people, you know. And then one day I think it was Christian Cole up in Anchorage, Alaska, and she did 350 deals in an area of that size. And I’m like, Well, if she can do it, I can do it. And then I surpassed it because I believed I could. Right? Everybody seems to have the ceiling or this cap of what they need to do. And, you know, I think in real estate, I’m sure you have a lot of real estate agents that are listening to this as well. Like I always tell people, it’s like you lead gen till you have your favorite people that you want to talk to on a regular basis. And then once you have those hundred people, you talk to them and you do business with them. You asked for business and you just network with them and then you make money. Well, then once you make money, it’s like, when do you get your paycheck open and when are you putting that money in? Because what happens is. You know, people will make X number of dollars and they start spending it because it’s more money than what they had before. So like, if they were making 70,000 or $80,000 at the job now, they made 150. You know, first of all, they’re telling their family, oh, I got to go out tonight cause I’m you know, I’m making out. Look, honey, I made 150 grand this year. Well, that hundred and 50 is, you know, 125. And then they keep going. And the next year it’s like, holy cow, they made $250,000. Yeah, well, that after tax, that’s only 150 because you’re in a different tax bracket if you didn’t open your prac. So now you know you’re paying for taxes because you blew it and you bought a nice new boat or a shiny red car, and you know what I mean? That’s that immediate satisfaction. Whereas I always tell people, like, Build your wealth statement, what does that look like? Are you, you know, building wealth? And the goal is not to grow so that you’re replacing a $250,000 or more income. The grow goal is to grow so that you’re replacing that 80,000 or whatever that you needed in the beginning. So live on the 80, take the 80 out all the time and keep the rest and keep investing it until that makes you the 80. And then whatever you do is completely up to you. It’s freedom.
Georges El Masri [00:46:09] Absolutely.
Lorraine Jordan [00:46:09] And it provides you safety.
Georges El Masri [00:46:10] Yeah. Yeah. I think that’s a great way to live for most people. Hopefully we’ll start seeing more and more people doing that as the as there’s more mediums like this where people can get informed and listen to people like you. So thank you so much for sharing all that you wanted to share what services or maybe any events you have coming up. And the best way to reach you.
Lorraine Jordan [00:46:34] Probably the best way to just reach me is email LJ at Team Jordan. Okay. So that’s LJ a Team Jordan dossier and that’s my private personal one. So you’re actually going to get through to me and yeah, set up a time to kind of chat with what your goals are. And I don’t know, I have investor partners all over the place, so it depends where you want to buy. I mean, right now I’m up in Midland and Sudbury, so I also invest in Montreal. I have investor partner, friends all over the U.S. as well. So I guess it just depends on what you’re looking to do and happy to connect.
Georges El Masri [00:47:11] Sounds good. Well, so much again for joining us and.
Lorraine Jordan [00:47:14] For inviting me to.
Georges El Masri [00:47:15] Speak with you again soon.
Lorraine Jordan [00:47:17] Yes, me too.
Georges El Masri [00:47:19] Thanks for listening to this episode. Your support is truly appreciated and if you can share this with a friend or family member, that might benefit from the information. Remember, our goal is to motivate and inspire others to take action and to build wealth and to become well-off. Enjoy the rest of your day.