Bad Credit to Seasoned Real Estate Investor with Josh Doyle

Recorder 1 47

Podcast Transcription

Georges El Masri [00:00:00] This is Georges El Masri, you’re listening to the well-off podcast, and today I interviewed Josh Doyle. Josh is a 30 year old entrepreneur and real estate investor. He’s passionate about financial freedom and living life on his terms. He started off working for Miami homes and then decided while working there that he wants to escape the rat race. He doesn’t want to continue living financially the way he has. And that led to him doing a lot of research and purchasing his first property in 2014. Today, he’s got 10 properties, 30 units, and he has a chief financial freedom. So on this episode, we actually covered his story, how he started out, how he was able to repair his credit and learn a bunch of things when he was purchasing his first property. Just a lot of bad things that he had learned from family and from just his surroundings as growing up. So by repairing is his credit and doing all this research, he was able to really transform his life. We also break down a deal that he did a triplex that he bought in Hamilton. The purchase price, how he was able to remove two of the tenants so that he can renovate, fix them up, rent them at a higher rate, and also then suit Sandy refinance soon after. So we covered those numbers. There’s a lot of good stuff in here, and you are you’re really going to enjoy this. I just want to remind you that if you enjoy listening to this podcast, please do share it with friends and family and leave us a review on iTunes or on the Apple Podcasts app. That would be greatly appreciated. And if you want to connect with me, I offer some free reports. So first of all, you can just reach out. Well, opt out came in contact info is there. And if you want to download some free reports and learn a little bit more about real estate investing, you can go to well-off dossier forward slash reports. Enjoy the episode and enjoy the rest of your day. Welcome to The Wall podcast, where the goal is to motivate, inspire and share success principles. I’m here with Josh Doyle, who is a 30 year old serial entrepreneur, real estate investor, and he’s passionate about financial freedom and living life on his terms. Josh worked for MadeBy Homes, which is a home builder, and while working with them, it kind of led to obsessing over understanding, investing and how to escape the rat race. So he bought his first place in 2014. Today, he’s got eight properties, 25 units, and he has achieved financial freedom. So Josh, welcome to the show. I’m happy to have you here.

Josh Doyle [00:02:23] Thanks for having me, man. Super pumped to be here. Got to update that bio because I just purchased a property last week, so we’re up to 10. We’ll start two properties. I’m up to 10 properties and $30 so nice. Congressman, Nice. Nice even numbers there.

Georges El Masri [00:02:37] Yeah, great. So why don’t you tell us a little bit about your childhood where you grew up and maybe one or two things you remember from then?

Josh Doyle [00:02:44] Absolutely. Yeah. So I grew up in Burlington, Ontario, like born and raised, you know, good family and nothing to like important about my childhood, really, other than the fact that I was never really a normal kid like I didn’t hang out with, with kids that often to play with toys and stuff. My like hobby or favorite thing to do was actually to sit around the dinner table and listen and hang out with all the adults. So I think that kind of contributed to like, you know, where I’m at today, but we can get into that after. Yeah. Other than that, I grew up in Burlington. Nothing too special. I went to high school. I never like graduated college or university or anything like that. I basically left high school and went right into working. I went, I said, that’s when I went and started working for four academy homes as a as a general labor. And yeah, that’s kind of like my path I can get further into, you know, how I progressed through everything, if you like or.

Georges El Masri [00:03:44] Yeah, sure. Tell us about that. What? What was it that while working for Mad at me, what sparked the interest in becoming financially free and escaping the rat race?

Josh Doyle [00:03:53] Sure. Yeah, that’s a great question. So it’s kind of a two part. I think the first part for financial independence is it goes back to my childhood, right? And being around adults, growing up a lot of the time, my family was never like, well, off, so to speak, like your podcast. But my family was never really well-off, really. They made ends meet, but there was always a paycheck to paycheck kind of family and spending the more spending that amount of time around, adults, all I ever got to hear was financial problems. Right. They’re always talking about who owed who money in the family, why they didn’t like this person this week. And then they like them the next week because they got paid back their loan or they didn’t get paid back the loan. And, you know, I always grew up being told, don’t answer that one 800 number because it could be the utility company or the credit card company calling and they’re asking for money, right? So these are the type of things that I kind of grew up around and that sparked my interest around money in general at a young age. It led me into like more of an entrepreneurial pursuits because I just, you know, I would start working. For minimum wage, like the average person would, and then it just wouldn’t cut it for me, like I just I always had just a need for more money, I think because I didn’t want to experience the same hardship that my family had experience. So once I got into working for academy homes, that was my first like, big break of making good money and I was making $19 an hour to start, right? So that was the general labor I was making. Probably more than most people in my family at the time. So, you know, my family were they were proud of me. They’re like, OK, you didn’t go to school, but you’re making, you know, decent money. You’re making 50 grand a year or so. So on and so forth. But still, once again, that wasn’t really enough for me. And when I was working, I what I started off there. I was a general laborer, so I would spend all day going around picking up garbage on the construction site, building materials, throwing it out, basically cleaning the place up. And I always saw a for sale sign. So as soon as the house was built for sale, signs would go up right away. And I was like, What are these people doing? And I would always see people middle of the day going to their properties, just checking the mail, putting for sale signs up. And it piqued my curiosity because I was like, How are people like these people not work? And like, why are they selling their houses like as soon as they basically get possession of them? So that kind of led me down the rabbit hole of real estate investing, and I started, you know, I started Googling like how to make money investing in real estate or how to buy real estate and stuff like that. And that led me to rich dad, poor dad, of course, and a whole whack load of self-help books and self-development. And then, you know, here basically I am today, you know, buying real estate. So that’s how it all unfolded.

Georges El Masri [00:06:44] Cool. So you bought your first place in 2014, right? Yes. You’re 20. I’m assuming you were twenty four years old at the time. Correct. How did that happen?

Josh Doyle [00:06:56] Yeah. So I actually had the opportunity to buy a pre-construction new build for academy homes because that was all the rave at the time. It was stand outside the sales office, wait for the property to be completed and then, you know, of wait for the, you know, the sales office to open up, get your, you know, lock in your spot. And then by the time it was built a year or two later, you made a hundred grand. It’s like it was like that. So I was like, Cool, I’m going to make underground like that, so I’m going to do it. And sure enough, that is how I did it. But basically, I had the opportunity to go and I didn’t have to stand in line. So I was able to get first pick at a property because I was an employee. So I went in, I bought a townhouse, even though the banks wouldn’t qualify me at the time. Sure enough, I had poor credit because the people that I was taught from also had poor credit, right? So you are who you hang around with and you know that basically every broker laughed at me and said it’s going to take a couple of years to repair credit. So what I did was I put the down payment on the property, three academy homes and I figured, Okay, you know what? I’ve got about a year’s time to improve my credit while giving them the installment payments, and I should be able to get there. So I didn’t know anything about creative financing in any of those exits that I could have done, but I in my eyes, I took the risk I could have lost my deposit. And you know, that’s how I got into my first property. So what I did was I was able to save up enough capital for 20 percent down by the time the property closed. And when it came to the signing table at the bank, the lady looked at me and said, Listen, number one, you’ve improved your credit so much. You know, number one, we can give you the mortgage and number two is you qualify for CMHC financing as a first time homebuyer or buyer saga. So instead of putting the 20 percent down, I actually leverage the property. I put five percent down, so that kept capital back in my pocket, which then allowed me to roll onto the second property immediately.

Georges El Masri [00:08:45] So how do you do that? You put so through a builder when you buy a new home, they have a deposit structure. So it will be like after x months, you have to put x dollars and then six months later, x dollars. And typically, that will amount to 20 percent of the purchase price usually. Yes. So you were doing that. But then when you went to sign the mortgage docs, you said you qualify for five percent down. So did the builder pay you back the amount, the deposit you had put down? Or how does that work?

Josh Doyle [00:09:13] Yeah, that’s a good question. So I believe that the deposit structure back then it wasn’t it didn’t equal up to 20 percent. It equaled up to, you know, it was a much significant amount lower. But I had the 20 percent of my bank account basically. So yeah, I didn’t actually give them the 20 percent I just had it saved up.

Georges El Masri [00:09:30] Got it. OK, that’s cool. Yeah, you too much about the whole financing process. When it’s a new build like I know you, there’s the deposit structure and then you can qualify for the mortgage later on. You don’t have to initially qualify for it, but that’s awesome. I was I’ve been reflecting on this a lot because you took a big risk when you started out like you didn’t know you were going to qualify for that mortgage. You didn’t know if you were going to be able to repair your credit in time, but you believed in in the product. You’re buying. And you knew you could do something, and that must have been a very scary time, but pushing forward it led to a lot of good things, right?

Josh Doyle [00:10:05] It was man, to be honest. I’ve always been a risk taker, but and I’m glad I did take that risk. Like, I believe I had a roughly forty thousand on the line. That’s what I contributed to the homebuilder. And then I believe that if I didn’t close on the property, I think that was what was at risk. And at that time, that’s a lot of money,

Georges El Masri [00:10:22] which is like, actually,

Josh Doyle [00:10:24] that’s almost a hundred percent of my salary.

Georges El Masri [00:10:26] Yeah, for the year.

Josh Doyle [00:10:27] Yeah. Like pretax? Yeah. Yeah, crazy. Yeah. So it was absolutely the end. And my wife was a part of that as well. She wasn’t my wife at the time. But you know, we kind of buckle down and like, man, I had a very bad credit. I was I had two credit cards that were maxed out, had never paid off the credit cards before. It was always just minimum payment, minimum payment at a month. Sometimes I would miss them like it was just it was a bad situation. So complete 180 from there. It’s amazing what’s a little bit of financial independence or financial education can do for you?

Georges El Masri [00:10:57] Yeah, for sure. So, OK, so tell. Tell us where you’re at now. Like you said, you have 10 properties now or you’re closing on your 10th. Yep. Thirty doors. So what does your investment journey look like today?

Josh Doyle [00:11:11] Yeah. So in terms of like, what am I doing today?

Georges El Masri [00:11:14] What are you doing? Yeah. Are you holding on to you? Because obviously when you start out, you buy certain types of properties and as you advance, you’re that might change. Right? Last year?

Josh Doyle [00:11:26] Yeah, yeah. So I mean, I started off my second property was a single family home. Since then, I have not bought in a single family home unless it was for the purpose to convert into something bigger and better. So as I’ve kind of progressed like as you’ve seen it and probably a lot of your listeners, the value of properties has gone up so significantly in southwestern Ontario that has made it very challenging in order to cash flow on a single family home. And so this is either forced people to go to other markets or stay within their market and get creative. And so one thing that I learned from rock star and that you used to work with Rockstar as well as that and I learned this from an investor I used to mentor under there, is that the best way to make money in real estate is in or is to add value to a property. So that’s what I got from them through a handful of other tactics and techniques that we can go into. But what I do, basically in a nutshell, is I buy properties that I see that it’s not operating at its highest and best use. Like maybe it’s a single family home and I can go in there and turn it into two units or three units and four units. So that’s exactly what I do now is I seek out opportunities that are either under market value or they can be a market value, but I can force the value high enough that it still meets my or my partner’s investment criteria.

Georges El Masri [00:12:45] Yeah, and that’s awesome, because there are so many ways you can improve the value of a property, either by adding a unit or renovating or converting the use, or there’s like tons of ways to do it, and you just accelerate the refi process, which allows you to drop money. That’s where are you. So are you still like doing stuff on your own or are you partnering? Are you qualifying for mortgages yourself? What does it look like for you?

Josh Doyle [00:13:11] Yeah, so I can’t qualify for any residential mortgages myself. I’m unemployed and a lot of people see unemployable. But yeah, basically the banks won’t lend me money because I don’t have a T4 income. They will, but I have to go through other creative finances like commercial financing and stuff like that. So I shouldn’t say they won’t. Most of my projects are owned with joint venture partners, so I not only I don’t only get creative for the property, I get creative with the deal, right? So I’ll find something where I can add value to partners and add value to a property as well. So I’ll go to people that, you know, want to be more of a passive partner or they don’t want to deal with all the headaches that come with real estate or they just don’t have all the puzzles to the they don’t have all the pieces of the puzzle to make the puzzle complete. And I’ll put everybody together and make one successful puzzle. So that’s kind of what I do now is mostly with partners. Sure.

Georges El Masri [00:14:05] Do you want to tell us about like either what you’re working on or a recent deal you had maybe some of the things you did to force that appreciation and just kind of an overview?

Josh Doyle [00:14:15] Yeah, absolutely. So let’s go over one that I just finish. So I just finished a triplex. We purchased this triplex on markets. It is a legal, non-conforming triplex. And I it was right at the beginning of COVID. So I saw that the property was sitting on the market for a while. It was way over market value. They listed it for six hundred and eighty thousand. At the time last year, last year and I needed a lot of work like it was a twenty two hundred square foot Victorian century home downtown Hamilton. So at the time looking at it, it was like, Okay, you know what? This this property is definitely over overvalued. It was tenanted. She would have three units and the two units that were in there, they were paying like way below market rents, like the one lady up in the attic was paying five hundred and fifty dollars a month for a one bedroom unit and just chain smoking up there. And then the main floor unit was, I think they’re paying like fifteen sixteen hundred dollars a month and it was like a really big, spacious two bedroom units. Well, so basically, you know, when I approached the agents and by the way, I didn’t use a realtor, I actually went directly to the listing broker so they could double the deal. That’s one of my strategies is trying to get one person to make double the commission so they’re more incentivized to give me a deal. But anyways, I went directly to him. He basically, you know, he worked with me, told me that he wouldn’t show me the property unless I had a letter from my mortgage broker saying I can qualify to close the deal the first time I’ve ever experienced that before. So they’re turning people away, left, right and center. Not they’re not even allowed to show the property because, you know, they had one deal, one person and they lock up the deal and then the person backed out. So what I did was I send a quick email to my mortgage broker, Hey, can you just send me an email saying that I can qualify for this even if it’s in a private loan? I can qualify. So that’s the first hurdle that I had to go through that most people won’t go through. The second thing was that the units were significantly under market rent, so that didn’t scare me away. Basically, when I got into the property, I saw that I could add value to it through renovations and through increasing the rents and renovating the basement, potentially putting a fourth unit or at least just finishing it and including that square footage with the main floor and then getting more rental income overall. So there were a couple of things there where I could add value to the property. I ended up getting the property under contract for $600000. I got a home inspection on it, which I normally don’t do, but I got went on it and then I went back and renegotiated the deal, another twenty thousand off because there was not tube throughout the property. And, you know, a whole bunch of other things that he pointed out. And so therefore, I negotiated another twenty thousand off the property and I closed firm for five hundred eighty thousand. Mm-Hmm. So did to get a little bit further into the numbers and the deal. Basically, when I took possession of the property, I was able to relocate the mean for tenants immediately. They were actually already looking for a new place, so it worked out perfect for me and the lady up in the attic that scared everybody the most. The 18 year chain smoker paying five fifty. She, I, I basically offers a listen. It’s not safe for you to be up here anymore. She was an elderly lady. I paid her first month’s rent last month’s rent to relocate to a retirement home, and I paid for her U-Haul with movers to move all our stuff so she wouldn’t have to lift a finger. So relocated her. We renovated the property in six months. We put one hundred and eighty thousand dollars into the deal and then we refinanced it for nine hundred and two thousand about two months ago.

Georges El Masri [00:17:57] Nice.

Josh Doyle [00:17:59] So it was a very big lift on the property. There is a small amount of capital of my small amount of my purse capital still remaining in the deal. They were able to refinance, but 80 percent of their invested capital in six months. And now the cash flow is roughly fifteen sixteen hundred dollars a month on that property. And you know, they’re making it a fantastic cash on cash return every month.

Georges El Masri [00:18:22] That’s awesome. What are the rents that you’re getting there and what are the what’s the unit composition?

Josh Doyle [00:18:28] OK, so starting up in the attic, we kept it a one bedroom unit for thirteen hundred dollars a month, all-inclusive plus hydro.

Georges El Masri [00:18:36] Nice. OK.

Josh Doyle [00:18:37] The second floor is also a one bedroom unit that’s thirteen hundred dollars a month plus hydro. OK, now the main floor in the basement, the basement. It was zoned a legal non-conforming. So I did actually put a unit in the basement like I put a full kitchen washer and dryer. It’s completely separate. There’s a fire rated door that separates the first floor and the main floor, so I could rent it out as a fourth unit. But to be honest, we actually just rented it with the main floor in the basement of one big family and we’re getting twenty 50 plus hydro a month. Whoa. Yeah, because it’s a two bedroom on the main floor and a two bedroom in the basement. So if you think about it, there’s it’s two separate the two bedroom units. And if you break it down, we’re only asking for fourteen hundred dollars a month per floor.

Georges El Masri [00:19:24] That’s still big rent. That’s it.

Josh Doyle [00:19:26] Is it is

Georges El Masri [00:19:27] there. Is it in a good area of downtown Hamilton or like, are you up north?

Josh Doyle [00:19:31] It’s in a decent area. It’s actually right by the Tim Hortons field. So it’s in a nice, quiet neighborhood. It’s not the best neighborhood but is far from the worst.

Georges El Masri [00:19:39] That’s great. Like that? Twenty eight fifty is pretty awesome for main floor and basement.

Josh Doyle [00:19:44] That’s huge. And the best part is that I don’t have to worry about having an illegal unit in the basement. Potentially, you know, somebody calling having to evict the tenants, et cetera, et cetera, that you know, the headaches that go along with having a non-conforming unit. So awesome.

Georges El Masri [00:19:59] Cool, did you use a property manager to fill the units, or did you do it yourself?

Josh Doyle [00:20:03] So I did do it myself. Up until this point, I’ve been finding all the tenants myself. I actually got a lot of experience doing that, working under an investor from rock star real estate. She kind of coached me like she had a handful of student rentals, and I used to find all her students for her and, you know, basically manage all the repairs and stuff. So that’s where I got experience in property management. Not the most, but I got an intro to it. And then I’ve kind of just progressed through the years. So I do find the tenants myself. And yeah, it’s a challenge for sure. Like, I had to comb through a lot of bad applicants, but you know, it took about a month or so that I ended up getting some grants. Awesome.

Georges El Masri [00:20:42] You’re at like almost what, fifty five hundred a month in rent at the place

Josh Doyle [00:20:49] where it be twenty six and twenty eight. So yeah, I’m up there. Yeah, yeah, that’s great. Twenty eight fifties area.

Georges El Masri [00:20:57] Yeah, that’s huge. That’s really good. Awesome results. And you were able to refi it. And yeah, you found some partners for it. So did you find your partners like did you have them right off the bat, right when you made the offer on the property? Or did you find the partners later on, like during the conditional period or whatever else?

Josh Doyle [00:21:15] I did find them during the conditional period, so I got locked up and then. The more I do these projects and the more I post stuff online and whatnot, and the more projects I complete with other partners, it kind of it validates the whole system or the business Mod. So at this point, it’s kind of like I have more partners that are willing to do deals than I can find deals because how hot the market is. So at the beginning, it’s a little scary when you don’t have a partner lined up or money. But at this point, it’s like if a deal is good enough and you have the track record, you’re going to find the partner. Sure.

Georges El Masri [00:21:51] Yeah, that’s cool. Um, yeah, that’s awesome. Do you normally find partners from your social media or do you typically work with people in your sphere

Josh Doyle [00:22:01] I typically do work with people in my sphere. You know, it did start with me just posting stuff on social media to show friends and family kind of what I was doing. And then they reached with interest. So it’s mostly been friends and family. I do have a couple of partners that have become more so friends and family with me, right? So over the time or, you know, throughout the last couple of years and then watching my journey and us getting together and meeting and, you know, becoming friends, we’ve become good partners. So but it mostly did come from social media. I’d like to post a lot of stuff on Instagram, and I have a lot of fun with that kind of stuff. Yeah.

Georges El Masri [00:22:33] Well, that’s a great deal to talk about because first of all, five eighty for a legal non-conforming triplex is a great price, even if from last year you were able to add value and get great rent. So this deal makes a lot of sense. Thanks, man. That’s a great result.

Josh Doyle [00:22:51] The biggest takeaway, though, is that it didn’t make sense while it was sitting on the market right at six eighty and nobody wanted to touch it because you couldn’t cash flow and there was two long term tenants. So yeah, you kind of. It’s not always about what it looks like at face value. Sometimes you got to dig a little deeper and make a deal versus finding a deal.

Georges El Masri [00:23:09] Oh, for sure. Yeah, I can see a lot of people just looking at that and running the numbers and being like, No, this is no good. Move on to the next one. But it you were able to, like you said, dig a little deeper. Yeah. You mentioned that you have two projects coming up. Can you tell us briefly about that? What are you looking at these days?

Josh Doyle [00:23:28] Yeah. So I’m super excited about these. So one of them is a single family home that we’re converting into a legal duplex that’s on the Hamilton Mountain. Very straightforward. Nothing too crazy about that. Like, it’s just like a very cookie cutter deal that I’ve kind of done in the past. The one that I’m close and I’ll we actually just close in that recently. So construction has started. The other one that is starting on August 12th is a three unit property. It’s also another triplex downtown Hamilton. It’s right by the Hamilton General Hospital, OK. And it’ll also as an unfinished basement, just like my last one. So they did have a unit in there that way back in the past. But this one, they had water issues at some point. The place is completely vacant, falling apart. The basement is leaking water. There’s rodents in there. There’s I guess it’s just a complete. It’s a good project. But anyways, that’s what I’m what I’m coming up on next month and we’re going to renovate the whole thing. Put another unit back in the basement, fix it up, refinance it and, you know, just roll with it. Just like the last one.

Georges El Masri [00:24:35] Yeah. So you got vacant possession on that property.

Josh Doyle [00:24:38] It was already vacant. The place has been vacant for it, to be honest. I don’t know how long it’s been vacant. It looks like it’s been quite a while. Yeah, like I said, it needs some serious repairs and it’s a big project. Yeah. So the bonus is that it’s vacant. Yeah, yeah.

Georges El Masri [00:24:52] When did you buy that place?

Josh Doyle [00:24:54] I literally just got it in a contract like two days ago.

Georges El Masri [00:24:56] Wow. Yeah. So it’s from an MLS dealer off market.

Josh Doyle [00:25:00] It was an off market, off market.

Georges El Masri [00:25:02] Yeah. Are you able to share the purchase price or you can’t do that now?

Josh Doyle [00:25:06] No, absolutely. I have it under contract firm. So it’s going through. I paid six hundred and twenty five thousand for it. Like I said, it is a triplex above grade, all spacious units. It’s a two bedroom on the main floor, a two bedroom on the second floor and a one bedroom up top. It’s got a dormer up top, so it’s got great. Ceiling height knocked lots of natural sunlight. So it’s not like you’re in those crammed attics with like no dormer and like no head room. It’s got a fire escape. It’s on a laneway, it’s got a 400 amp electrical service, which is like unheard of on the smaller multifamily properties. So it’s got it checks all the boxes. It just at this point, you know, rolling up their sleeves and getting it done.

Georges El Masri [00:25:47] That’s great. Those are tough to find. There are a lot of investors looking for that type of property, and I’m pretty sure if that was on the market, even if it’s rough, it would have probably gone over seven. I’m pretty sure

Josh Doyle [00:25:57] I completely agree. Yeah, you know, the renovation is going to be pretty substantial, especially to the level that I like to renovate. Like I like to provide more of a condo like experience for the tenants like ensuite washer dryer, dishwasher, you know, stainless steel appliances, quartz counters. I like to make it look nice to try to get the highest rent possible. And then another thing that we’re kind of toying with is since it’s so close to the house. I mean, the rental rates already looks so good that even being conservative, we should cash flow on that property 15, 16 hundred a month on that one as well. But I’m playing around with the idea of possibly Airbnb being it since it’s so close to the hospital. You know, we might be able to double those, double those cash flow numbers, so we’ll see. You’ll have to stay tuned and hopefully I get my toes in the Airbnb business model. We’ll see.

Georges El Masri [00:26:44] I was just going to ask you, have you done any Airbnb stuff or would this be the first time?

Josh Doyle [00:26:47] Potentially, this would be the first time. It’s like I’m constantly trying to battle between, you know, do I take on something like that that’s more management intensive and create more cash flow for myself, but then lock up more of my time, or I use my time for more income producing activities like finding more deals and whatnot. So we’ll see who knows where I’ll end up with that one. But at the very least, it’s going to be a great cash flow property. We’re going to refinance, you know, majority of the money out as well, and it will be a good, good projects.

Georges El Masri [00:27:19] For sure, at that price, there is lots of room for you to improve and refinance and get it all working and get the burn method working for you.

Josh Doyle [00:27:28] That’s my favorite method, man. I know you’re involved in that as well. It’s just it’s too hard not to use that method, you know.

Georges El Masri [00:27:35] Oh yeah. And with the way the market has been rising, like most people are, are doing that right. It’s you don’t even have to do anything to the property if you bought in the last three years and you could burn it. It’s true. It’s a matter of speed, though, like you can. If you do what you’re doing, you can it within six months. But the average person, if they’re not doing that, it’ll take maybe one, two three years before they can build up some equity, for sure.

Josh Doyle [00:28:00] I mean, even one to three years is still a no brainer. Like it’s just, yeah, it makes so much sense. It’s great. We really do. We’re blessed to like, be living or investing in such a great spot that has this type of opportunity.

Georges El Masri [00:28:12] Oh, it definitely. Definitely. Yeah. So I want to jump into the next section, which is the random five call. So I’m going to ask you five random questions. You just tell me the first thing that comes to mind.

Josh Doyle [00:28:23] Awesome. Let’s do it.

Georges El Masri [00:28:25] So number one, if you could eliminate one food, what would it be?

Josh Doyle [00:28:29] Dairy? Does that have to be like a food group or like a food

Georges El Masri [00:28:32] or whatever you want

Josh Doyle [00:28:34] dairy? To be honest, I you know, I already have a food intolerance. That’s an easy one for me to answer. There is a for me. I don’t eat it. Don’t eat it.

Georges El Masri [00:28:41] I agree with you. Number two, do you prefer mild or warm weather?

Josh Doyle [00:28:47] Warm weather, for sure. Man, I am loving this weather. Like when the summertime comes the spring, the summer, the fall. My energy just naturally increases through the roof. When summer, when wintertime comes, I’m like a bear, like I hibernate and I get depressed. I stay inside like, you know, like, so this is my weather to suit the warmer it gets, the better it is. And then it is for everybody around me. So, yeah, warm it is.

Georges El Masri [00:29:10] Yeah, you’re I’m sure you’ll be flying out to somewhere warm in the near future

Josh Doyle [00:29:15] in the winter is right. It’s on the list, man. It’s on the list. Like, I’ve been golfing a lot and you know, I’m thinking about Florida golf all year round type of thing, so it is definitely on the list. I just need to try to manage the pieces of my life to just figure out how that can fit, you know? Nice. Yeah.

Georges El Masri [00:29:32] So actually, that kind of ties into the next question where do you see yourself retiring?

Josh Doyle [00:29:37] Where do I see myself retiring? To be honest, retirement is a is a very weird word for me. I don’t ever see myself retiring, even though like I am financially set right now in terms of like financial freedom. I do this because it’s fun, and I do this because I know that I can and I can help other people and I enjoy the progress of the process of just scaling and like, this is what I get a kick out of, right? Taking on big, scary projects and pushing myself to the limits of what I think I can handle mentally and emotionally, I guess. But yeah, I don’t I don’t know where I’m going to retire. I know that for sure. I like Canada, like I like the I like the weather here three months of the year. I think I’ll probably see myself buying or even maybe renting a vacation home like Florida or something like that. Or maybe I just like to bounce around, you know, my good friend Rob is now bouncing like Rob Clark. He’s bouncing around to Vegas in Miami and doing that live in that lifestyle. So I wouldn’t mind doing something like that through the wintertime as well, just kind of being, you know, free and traveling and staying in warm weather, you know, four months of the year. That’s all that’s important to me. It doesn’t matter where it’s as long as it’s hot. And you know, my energy’s high.

Georges El Masri [00:30:45] Yeah, for sure. That’s great. Number four, Which teacher had the greatest impact on your life?

Josh Doyle [00:30:52] Which teacher? To be honest, I don’t know. I can’t think of any teachers. I don’t think any teachers really had a major impact that I can relate back to and recall, I’m sure Robert Kiyosaki. Oh, sorry, OK. You know what? I was thinking about school teachers.

Georges El Masri [00:31:11] I’m joking.

Josh Doyle [00:31:13] But you know what? You are absolutely right. There are other teachers in our lives like mentors and whatnot, even if we don’t know them personally through books, podcasts, YouTube. So Rob Break is Zaki was my biggest teacher. One hundred percent. You know, he got me into, like, you know, thinking differently about money and life and how to use money and how the whole system is structured. So if it wasn’t for that teacher, I definitely would be where I am today. Yeah, so good call. Thank you for that.

Georges El Masri [00:31:39] You had no worries. Number five, Which TV show did you watch the most as a child?

Josh Doyle [00:31:45] Oh, see, it goes like what I was saying earlier is I was not a normal kid. I didn’t really sit in front of the TV. And to this day, I don’t watch movies. I don’t watch anything on the TV. So if I had to think back, I mean, like. I don’t know. Maybe, maybe like Power Rangers or something.

Georges El Masri [00:32:03] I knew you were going to say that, did you? Yeah, I knew you were going to say,

Josh Doyle [00:32:06] maybe power rangers is. Yeah. You know, it was probably power rangers. Yeah.

Georges El Masri [00:32:10] Cool. Yeah. So that’s it. Do you want to tell people how they could reach you? What services you provide?

Josh Doyle [00:32:17] Sure. Yeah. So if anybody’s interested in my journey and what I do, they can reach out to me on Instagram. My Instagram handle is Josh Doyle and best. I also have a YouTube channel I post there once every so often. It’s not super consistent, but I do share my journey on there as well. I showed more in depth of the types of renovations I do and the numbers of my projects. That’s also Josh Doyle invest. So you guys can check me out there in terms of what I do, services I provide. I mean, I buy a real estate and I add value to real estate. I like to work with people and I just create win scenarios for everybody. So that’s something that interests you and you know, you want to be involved. Reach out to me. I’d love to chat with you. And yeah, that’s awesome

Georges El Masri [00:33:02] Josh, thanks a lot. I appreciate you sharing your journey knowledge, the numbers. Some people aren’t willing to share all that, so I appreciate it. And yeah, I wish you all the best with your closings and with all your ongoing projects.

Josh Doyle [00:33:14] Thanks, George. I really appreciate it, man, and we’ll chat soon. We’ve got to get together soon for lunch and actually meet in person again. And, yeah, enjoy the weather.

Georges El Masri [00:33:22] OK? You are too. Cool, as always. Thank you for listening. I hope you enjoyed the content. And if you did, I ask you to share this with a friend, with a family member, somebody who might benefit. And it’s always appreciated. If you could leave us a review, especially if you’re listening to it on the Apple Podcasts app or if you’re on YouTube, give us a like subscribe comment and your support is always. Appreciate it. Thank you very much.

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