Table of Contents - Candice Bakx-Friesen : From Passion and Purpose to Clarity and Confidence
Dave Debeau [00:00:08] Well, hey, everybody, this is Dave Debeau with another episode of the Property Profits Real Estate podcast. Candice, please don't try to say that three times quickly. It's a mouthful. It's my pleasure to have Candice back reason on the call with us today. Candice, how you doing today?
Candice Bakx-Friesen [00:00:26] Things are amazing. Life is good. Yeah, I'm in the middle of Winnipeg, which is minus 50 million trillion billion these days. But other than that, everything's going great
Dave Debeau [00:00:38] as we're filming this our first week of February. So it's cold, cold, cold in Winnipeg. We're getting a little feel of that here and usually sunny, lovely Kamloops. We're getting a little blast of that as well. So I feel your pain. So those of you who haven't had the pleasure of meeting Gadis yet again, this is a very experienced real estate entrepreneur. She's a coach. She's a trainer. She and her husband have built up a significant portfolio, primarily a buy and hold properties, a whole mix from single family homes up to small multifamily properties. I believe you said you had about forty six units in your portfolio right now all together, is that right?
Candice Bakx-Friesen [00:01:13] Yeah, somewhere between 40 and 50
Dave Debeau [00:01:16] in that range. She also has experience doing lease options or rent own deals. She is a realtor as well and a mother of four. So I don't know how the heck at any time for our conversation here today, but I'm glad you could make it.
Candice Bakx-Friesen [00:01:32] Yeah. Thank you so much for having me, Dave.
Dave Debeau [00:01:34] My pleasure. All right. Well, we're going to start the timer now. So you tell us a little bit about your back story. How did how did you first get the real estate investing bug? When abouts did that happen?
Candice Bakx-Friesen [00:01:46] Yeah, so I was dating quite young, what ended up being my husband. But at that time, I was dating this guy and he was twenty one. I was seventeen. And so he was talking a little bit just in dating. We talk about different things and stuff about the house that he had and that he had a rental house. And and I was like, oh, tell me more about that, because my parents went into rental properties. And so he's just sort of explaining the whole thing. And I was like, well, it's pretty interesting. Fast forward about two years. I was almost twenty almost, and we ended up getting married. And so I married with benefits and he had this rental house. And what this all makes sense. It sounds like a great thing to do. And so through the grapevine, my father in law had heard about a property that had come up. I actually live rural. And so that's always an interesting thing for a lot of investors, especially the ones from the big centers. But all of our properties are in communities that are like five hundred to fifteen thousand people. So it's a very different type of investing. So through the grapevine, my father in law had heard of this property that was coming up and it was a five plex. And so he said, hey guys, this property's coming up. It's now on the market. I wasn't a realtor at that point either. I was finishing my Bachelor of Commerce. So I said to my husband, this sounds great. And he's like, no, this doesn't sound good. Like what? Why? He's like, well, this is five. This is like a five plex. We're early twenties. Like, that's a big property. And I just say, well, it's just your small rental house. Times five, it's the same numbers. It all makes sense. Right. And so we didn't have any money. I was still in university and he was working just a wage job at that point. He wasn't self-employed yet. So then I approached my mom and I just said, hey, there's this great opportunity. So we ended up getting private financing. And it was it was a really great move for us.
Dave Debeau [00:03:39] That's a way, a great way to jump into your very first property was a fact, like I said.
Candice Bakx-Friesen [00:03:43] Yeah, well, he had owned a house and a small rental house.
Dave Debeau [00:03:47] But your first. Yeah.
Candice Bakx-Friesen [00:03:49] Yeah, right. Yeah.
Dave Debeau [00:03:52] So you've done a little bit of everything. It would be fair to say that's kind of your primary focus would be multifamily properties. That's where you got most of your units right now. Would that be fair?
Candice Bakx-Friesen [00:04:02] I really feel like we're you know, we started buy and hold because we were both self-employed, me being a real estate agent. And he was doing stucco at the time and he recently retired from that. And we're actually in farming now as well. It's a whole nother conversation. But really at this point, we're a little bit more, I would say, opportunists. So just seeing what comes up as an opportunity, does it make sense? So we've got a very mixed portfolio to sort of mitigate risk at this point. Yeah, you know, it's a good single family comes up great. If it's the last year it was a six plex. So we invested in that. And so whatever comes up, that makes sense.
Dave Debeau [00:04:42] Oh, that's great. That's great. So it sounds like you've done a lot of things right over the years. But if you were to talk to your twenty year old self again, you're starting all over again knowing what you know now, what would you do differently, if anything?
Candice Bakx-Friesen [00:04:54] I think that I would have been probably more aggressive. But in saying that I was busy building up my my real estate business as a realtor and yeah, we had four kids, so. See, that takes up time, too, so I think it's like anything you can always look back and say, I could have done more, I should have all that was a great deal. But I don't really look back too much. I think it's just it's about today and the action that you can take today
Dave Debeau [00:05:22] and you can always make the process, right? Yeah, I know. That's that's well said. So you've got a unique perspective because you're a real estate investor yourself, you and your husband. You've got a background in business. You've been a realtor for a while, and you also coach and train other upcoming real estate entrepreneurs from all of that. What do you see as being like the biggest mistakes people make?
Candice Bakx-Friesen [00:05:47] I think fear is what holds so many people back. And, you know, you can take all the education that you want, all the courses you could read, all the books. But ultimately, if you're not ready to make that move yourself, then you'll never make it right. You'll never you'll never take that first step. So I think it's fear and then having the money conversations like none of us, you know. Ninety nine percent of people were not raised to be talking about money to parents, to just be like, oh, we're not going to talk about that. I was fortunate that my parents were entrepreneurial and my grandparents. And so those kinds of conversations ought to be over for the majority of people. They just not comfortable asking people about money right now. Don't say, hey, Dave, what's your mortgage balance? It's not a comfortable conversation that just comes up among friends. And so making that transition from, OK, I know I know people, but how do I only talk to them about money or what they're investing in? And so I think those money conversations are difficult for most people.
Dave Debeau [00:06:45] So that's the biggest mistake you see people have is not having those conversations at fear of that conversation.
Candice Bakx-Friesen [00:06:51] Yeah, definitely. Yeah.
Dave Debeau [00:06:53] OK, now you've been for several years, you've also been part time helping people out coaching and mentoring and that sort of thing. When it comes to that, if you could wave the magic wand who's like your your perfect client for that?
Candice Bakx-Friesen [00:07:05] I think it's people who are just ready to take action and they obviously need to have that trust factor and you have to have the connection. Right. So I think you've caused a lot of people to and you have a lot of experience with that. And I think if you think back to people who are your your best client or even me as a realtor, you want to have that hat on to the people that you have that strong connection with where you're like, oh, that was so much fun. Right? And so just having the right personality, the right connection, and obviously that they trust you because if they don't trust you, then it's not going to work, right?
Dave Debeau [00:07:41] Actually, no, I can't. As I suck as a coach, I don't I don't have the intestinal fortitude, patience, the warm, fuzzy personality. So so personally, I've switched my my whole thing over into focusing on providing done for you marketing services for real estate investors who are looking to find money partners. That's my focus. I leave the coaching to the warm, fuzzy people like yourself that are good at
Candice Bakx-Friesen [00:08:07] I've been in you, I've been in your seminars. So I know that you've done it and I think you did it well. But I'll take you through the change to. Right.
Dave Debeau [00:08:16] Exactly. Exactly. All right. So everybody's kind of got their unique ability. You're very rounded kind of person, but what do you think you bring to the table with your clients? It's kind of unique.
Candice Bakx-Friesen [00:08:29] I think it's just the the, like you said, having a well-rounded background. So before in between and in my Thomas degree and becoming a realtor, I've been doing that now for twelve years. But I was a mortgage broker also for a year. And so just having that financial background, that piece in the business, like you said, and just being able to explain so many different angles to it. Right. A lot of sales and raising money. Again, it's selling a concept to people. Right. To the investor. But so much of that is there's psychological elements to that. Right. It's just understanding who you're talking to and the whole process of being able to sell them. So the real estate background and to be able to deal with people, that's where that all comes into. Right. So I think, again, it's able to offer as well that soft side of it. It's not just what you're saying, but how you're saying it.
Dave Debeau [00:09:26] Yeah, that makes sense. So when it comes to that whole idea of the soft side and the and the selling part of things of not convincing, but showing people what the opportunities are in real estate investing, what kind of a tip or an actionable idea could you offer to people to to do that better?
Candice Bakx-Friesen [00:09:46] I think that the main thing is that people just don't know where to start, and so the first thing I think with anything, whether you're starting a new business or now trying to raise money, you want to start something new. It's just to get everything out on paper, starting with the database. And again, we prejudge. We think like, OK, I know John, but John doesn't have any money or well. So she would not be interested. This is going to be too much for her to out of the box. And so not taking all those judgments away and just getting a list out, creating a database, again, not like saying, OK, I got to have the perfect software to do it. Just getting a piece of paper out. Just keep it simple, keep everything super simple, get the names on the paper, get the phone numbers and start booking appointments. So even if you feel like I'm not quite ready for this yet, you have to take action and it's going to be imperfect. We always want to be perfect, but if we can just try to always be our best, you're going to get better and better as you go. But until you take that first step, you're never going to start, you know, perfecting your your skills.
Dave Debeau [00:10:56] Now, that makes sense. That makes sense. All right. And so when it comes to your guys, what do you think's the biggest problem that you help them overcome or the biggest problem to solve?
Candice Bakx-Friesen [00:11:07] Think again. It's probably mindset like getting people just in the right frame of mind. Some people have never been self-employed. So it's a very new concept for them to be starting a business. And it's it's out of their comfort zone. Right. And so the biggest thing was coaching, I think, is that you're meeting people where they're at and you're helping them overcome their personal stumbling block, that that is holding them back from taking action. So, again, you know, you can learn everything in the books, but then it's like, OK, well, how do I take all this that I do understand and now take action out there in the real world and talk to people that I know and make sure that I sound confident and that I'm saying the right things. Right.
Dave Debeau [00:11:51] So it's kind of like a case of stinking thinking or procrastination or analysis, paralysis, that kind of thing.
Candice Bakx-Friesen [00:11:59] Yeah, well, it could be anything. Yeah, some people struggle with the numbers. Some people, they don't know what to say when they talk to somebody. Some people can go look at one hundred properties and feel like, well, I don't know if this is the right one yet. Right. So everybody has something else that's different that they struggle with. And so, yeah, it's meeting people where they're at and helping them overcome that as quickly as possible so they can keep taking action.
Dave Debeau [00:12:22] So before we we set up this call, again, as I said to some questions, that we're going to go over and we've gone over most of them now. But is there anything that I missed that I should have asked you?
Candice Bakx-Friesen [00:12:33] Yeah, exactly. I think that it's just so important to keep getting out there and not get stuck. And so sometimes you think, oh, maybe I've gone to all the seminars or I don't know if I should be networking with this person or sometimes you can just get stuck and it's just important to keep at it. You know, there's always another person that you could be meeting that might be the right connection. There's always. Yeah, just to keep learning. There's there's one hundred ways to do real estate, and that's the beautiful thing about it. But not to get stuck in one way and just. Yeah. Keep having conversations, watching great podcasts like this and just keep at it, keep talking to different people.
Dave Debeau [00:13:14] You know, that's a really good point. I know I've experienced that myself many, many, many times actually. I'm just thinking at one time recently, like I had set up, I was supposed to go speak for a group out in Ontario. Yeah. And I had my tickets booked and everything booked in a hotel booked and everything. And last minute they got it got canceled on me. So that kind of sucks. But I was already committed to going it was either just going to walk away and walk away from the the tickets. I thought, well, why not try something different here? And in my case, I did a bunch of series, a little lunch and learns I one very, very well. I made a new connection or reconnected with somebody that they didn't down a whole whole different path, a much larger opportunity than what I was looking at in the first place. So, yeah, sometimes
Candice Bakx-Friesen [00:14:05] that's a great example. I love that.
Dave Debeau [00:14:08] You just gotta you always have to look at. Sure. Maybe something didn't work out exactly the way you thought it should or would or could always try to take the the lesson in that and and walk away with something that you can turn lemons into lemonade with.
Candice Bakx-Friesen [00:14:26] Yeah. And just say yes. You know, like if you see an opportunity to go to a networking lunch and you're like, oh man, you know, that's going to mean I'm going to use it. There is always a sacrifice, right. Like, oh, when you
Dave Debeau [00:14:38] got four kids. Yeah, there's some.
Candice Bakx-Friesen [00:14:40] Yeah. And it's minus 40. It's easier to stay at home and all of those kinds of things. Right. Yes. And then later you realize there's so much that you. Oh man. Had I not gone right. Just like you said, great opportunities and so many things that we just have to say. Yes. And just go do it.
Dave Debeau [00:14:57] So of sad. And I'm going off track here, so bear with me. But it sounds like you're you're probably very good at networking when you guys suck at networking. To be perfectly frank with you, I'm not not good at at all. What is your approach to breaking the ice with somebody you don't know, just a new person?
Candice Bakx-Friesen [00:15:19] I think that it's really important that the typical thing people always talk about is for. Right. So talk about family and occupation and recreation and dreams. So you can you could definitely go on that. And that's kind of a backup that if you're struggling a little bit, think of think of that. But the big thing is that it's always easy to talk about ourselves. Still, if we can just ask other people great questions and if you're actually listening, people know. Right. And so just to really focus on them and actually care to make sure that you care about them. Yeah. Yeah. And so just always offer to help people I think is is key. Like where are you at in your business and what are you struggling with and how can I help you out. When people know that you care then right away they, they trust you and and you could just start building that relationship
Dave Debeau [00:16:11] checks or tricks for your follow ups, because it sounds like you're probably pretty good at that as well.
Candice Bakx-Friesen [00:16:16] Well, that's what I was just going to say. So networking, it has to be first up. Right. But but we can't leave it at that. So I always say that if you can book an appointment before you leave from from somewhere, wherever you're at, then you've got that follow up and you don't have to struggle with, OK, I talk to them like three months ago. I wonder if they remember me now. I just won't call like that. Then it's hard. Right? So if you can before you leave, you can say, you know what, I love talking with you. Could we do lunch next week, which is your week look like then you book it before you leave.
Dave Debeau [00:16:48] Smart. That's very, very smart. I'm glad we went off track there and asked those questions, so as we wrap it up, we got about 40 seconds here. If people want to find out more about Candice Fresen, I know you've got a website. I've got some sort of a free resource for people to encourage them to go visit your website.
Candice Bakx-Friesen [00:17:09] Yeah, I've got 10 tips to attract more joint venture money because, yeah, I've got that one as sort of the giveaway because I feel like that's again, where people struggle the most. And so if you could just get a tidbit here or there that can completely change what you're doing, then then I just hope that that's worth it. And people can reach it any time. It's easy to reach me and I'd love to do Zemko with people or support them in any way they need to.
Dave Debeau [00:17:40] Maria, that's the timer that's out seven minutes. What's the best what's the best way to reach out to you, Candice?
Candice Bakx-Friesen [00:17:46] I'm on social media. It's really easy to find me, but my website is investor smart or again, find me on Facebook.
Dave Debeau [00:17:54] I love that name. Investor Bartz Dossier. Candice, thank you very much for your time today. It's been a pleasure chatting with you. And I appreciate you sharing these tidbits of wisdom also.
Candice Bakx-Friesen [00:18:05] Thanks, Dave.
Dave Debeau [00:18:06] Well, thanks very much for checking out the property profits podcast. We like what we're doing here. Please head on over to iTunes, subscribe read us and leave us the review. He very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.