Table of Contents - Dave and Melanie Dupuis: Secrets to Buying 12 Properties in 12 Months
Dave Debeau [00:00:08] Well, here, everyone, this is Dave Debeau with another episode of the Property Profits Real Estate podcast. And today it is my pleasure to be chatting with Melanie and Dave Dupuy. And you folks are zooming in all the way from North Bay, Ontario, is that correct?
Melanie Dupuis [00:00:25] Yes, that's correct.
Dave Debeau [00:00:26] That's fantastic. I'm here in lovely Kamloops, B.C. You're on the other side of the country. It's all great. You got to love technology. And if you're not familiar with Melanie Dave, these two are very, very astute real estate investors. They focus on investing in multifamily properties in and around North Bay. They've accomplished a lot in a short period of time. In fact, they got their first 12 properties in 12 months, which is very, very impressive. And that allowed Melanie to quit the job and become a full time real estate entrepreneur and spend a lot more time with her kids as well. So I'm really looking forward to our chat here today, you guys. And we're going to get started with the questions. And I will start this 17 minute timer as of right now. All right. So you guys, let's get started. First of all, how and why did you first decide to get started investing in real estate? What was that light bulb moment or that spark that kind of got you going?
Dave Dupuis [00:01:21] So we've always had a passionate love, for goodness sake, and I remember growing up thinking, how do I become a millionaire? And it seemed that most millionaires were involved with real estate investing or some sort of real estate aspect. So in a way, why reinvent the wheel? Follow what they're doing. And that's kind of how we got into it.
Melanie Dupuis [00:01:40] And how we actually did it was we we were very aggressive with our goals. So we set goals that seemed at the time quite unrealistic. And by having such high goals, it demanded a lot of action. And from that, that's how we're able to grow so quickly
Dave Debeau [00:01:56] was very good. So what year did you start in?
Melanie Dupuis [00:01:59] We said about six years a.m.
Dave Debeau [00:02:02] to about two thousand, 13, give or take. And you did 12 deals in 12 months. That's very, very impressive. Now, did you you mentioned in the intro that you're focusing on multifamily properties. Did you start out that way or was it kind of a progression?
Dave Dupuis [00:02:19] When we met, I had a single family dwelling, which we still own, and Melanie had two duplexes, so we kind of at the start, you know, we kind of had one or two year and the actual the 12 properties and 12 months came once we once we found a bunch of information in our eyes lit up. And that's when we really unleashed the beast.
Dave Debeau [00:02:39] I love it. Well, you've got a very impressive portfolio right now, 22 buildings with eighty seven units. Eighty seven doors. So you've got a nice portfolio going there. How did you guys decide this really kind of focus on multifamily properties, what is it about, you know, that that really appeals to you versus everything because there's a whole plethora of things we could do. Why do you guys like multifamily?
Melanie Dupuis [00:03:04] Well, we really like the fact that there's multiple income coming in for the one property. So it just had that sense of extra security for us, reduces the risk involved as well. So that was one huge one huge reason for it.
Dave Dupuis [00:03:17] Yeah. And the thing is, doing the cash flow analysis, seeing when you duplexes next within the commercial units where there was some risk of vacancy, lower, lower turnover and higher vacancy when there is turnover. So it was just a more of a safe and solid tried and true. And some of our mentors, the only two all family. So again, reinvent the wheel, listening to people that know what they're
Dave Debeau [00:03:40] very, very smart guy. I agree with you. I love multifamily properties. That's what I focus on these days as well. Yeah. That whole you know, if you got a single family home that goes vacant, you're one hundred percent vacant. If you got a 10 unit building and you got one vacancy, you're still 90 percent full. So all kinds of sense. All right. So you guys, it sounds like you did a lot of things right, right from the get go. But if you could rewind the clock and talk to your six year younger selves, knowing what you know now, what would you do differently if you're starting over again?
Dave Dupuis [00:04:17] I would just aim higher, like like if someone had told me I know Melanie had a goal 10, 10 buildings by the time she was 40 and she'll be 40 this year with twenty two. And so it just I would have aimed a lot higher because once you achieve, you just realize, wow, that was, it was a lot of work, but that wasn't rocket science. So I've been kind of leaps and bounds over what you think you want in that way. If you get it then because it is achievable if you like it. So it's not rocket science. People do it every day. Everyone can do it. So just aim a lot higher because you can get there.
Melanie Dupuis [00:04:48] And the other part as well is that we heard a lot of as we were trying to grow our portfolio, a lot of negativity coming from various people on the risks. And what if the interest rates goes up and all these different things and everyone said, yeah, and we created, of course, some worry. And and so we kind of slow down for a little bit until we stop taking advice from from people who weren't really into it and taking advice instead of people who have been successful in it. And that just the first quarter growth significantly as we started following the people and said that happened there and how they didn't take their advice and said
Dave Debeau [00:05:25] very smart, I imagine you've kind of had to shift your the people that you hang out with over the years might have changed a little bit. Would that be a fair statement?
Dave Dupuis [00:05:34] That's fair to say. A lot of naysayers, a lot of we call it haters. Just you hear the stories, the same stories about interest rates. But if you think of that as just it just rolls off our back now. And we just it's it's so typical. So, yeah.
Melanie Dupuis [00:05:49] And now we're surrounded around a different guess and. Yeah. And they're like, oh my gosh, oh, what's next? And nobody gets to do that. That's great. And and it's funny how you surround yourself by or look at your top five friends or people you hang around with or people you take advice from, and that's going to predict your success in your future. So that's what we try to focus on, is are we taking our advice from and we certainly have our top people that are going to people are top mentors that would take advice from
Dave Dupuis [00:06:18] our next goal is is huge and we will achieve. And then when we achieve it, we're going to say, well, that was easy, and then
Melanie Dupuis [00:06:24] you'll want us back on your show to get to
Dave Debeau [00:06:26] where you go. I look forward to. So you guys, you've been doing this for a number of years now. You've got a lot of experience under your belt. Seems like you're very, very sharp people. And I love the fact that you're a team doing this together that makes such a huge difference in your success rate and the speed of which you can achieve things. I know this from personal experience, that's for sure. So you must hang around with a lot of other real estate investors, including some newbies. What are some of the mistakes that you see people making, especially when it comes to investing in multifamily properties?
Dave Dupuis [00:06:58] My biggest home, and I did too, is the paralysis analysis. It's just this idea of having to know everything before you get started. It's so backwards. That's why you have lawyers. That's why you really see this. That's why we can just get started, get some knowledge. Don't just buy a house tomorrow, buy a house tomorrow, later, but get some knowledge, stop analyzing everything, stop thinking. You need to know the route ahead of you, get going. And then once you meet that next year light, figure out like the whole truth. It's not going to be green lights all the way. Right. You got to stop sometimes, figure it out and then it's not rocket science. It's just figure it out, Ed, and meet the next obstacle and figure out what to do.
Melanie Dupuis [00:07:39] And a big part of that where we've seen from from other people and I'm talking to so many real estate investors about one big mistake that people make is that they don't have an exit strategy for especially when it comes to private lending and for the down payment or creative financing. And that's so huge that you have to have a plan and see how am I going to get a year from now, repay the loan, because if if one comes crashing down and it's the domino effect. I see. So we always make sure that we can have three or four plans that if this happens, this is what we would do again, worst case scenario. So that way then successfully, we repeat tons of loans early. And if people want to continue investing with us because they have that trust now in us, it's just a win win. So if you're new in real estate is to really make sure that you have that strategy set and spend some time on it because it's so, so crucial.
Dave Debeau [00:08:29] That's a very, very good point, Melanie. So thanks for bringing that up. It's you know, sometimes it's easy to get into the deal initially. But that initial money might be pretty expensive, so how do you get that replaced with more affordable money yet at the same time have a velocity where you can go and make offers and tie up properties and buy them lickety split?
Melanie Dupuis [00:08:48] All right. Yeah.
Dave Debeau [00:08:51] All right. Very good. So, you guys, I think you accomplish so none of you were able to quit your job years before your fortieth birthday. You're not even 40 yet.
Melanie Dupuis [00:09:00] Not yet. It's getting closer, but not yet.
Dave Debeau [00:09:04] The young whippersnappers, I tell you. And so are you able to accomplish that? And I believe you guys have a new business on the go as well as you're offering property management for other real estate entrepreneurs, is that correct? Yes. Yeah. OK, so. What problem do you find that you solve for your clients when it comes to that business?
Dave Dupuis [00:09:26] What's the problem? It's just I find people to do it. And I'm giving them back the time. I'm giving them the gift of time. And again, we start over. We have four or five duplexes. That's when we were the busiest, just spinning our wheels. So through its property management and its also repairs, maintenance and renovations, even homeowners, not just it's just giving people a good product or contractors that'll get the work done. We treat the properties like we treat our own. So we're just giving them back the time. We're giving them that. They're handy for taking the headaches away. And because we love it, we have a strong team that's
Melanie Dupuis [00:10:01] and that's I think it's been able to to find I know we have a fantastic crew, great, great team. And that's been key. So so, yes, if somebody at the next level or they want to grow, but they don't have the time leading on somebody who can offer you that, somebody you can trust and somebody who has a proven record can be huge.
Dave Debeau [00:10:20] So that's wonderful, you guys. So I understand you've got a brand new book that your you've lost, you're about to launch. Can you tell us a little bit about that? I know that's a little off script, but let's let's go let's go with that talk.
Melanie Dupuis [00:10:36] As I said, sorry. New book is by the time you're seeing this, it should be on Amazon. It's fairly new.
Dave Dupuis [00:10:42] So this is this is the not for sale version, but really.
Melanie Dupuis [00:10:47] But I think it'll go on Amazon soon. By now, I should be on. Every time you're looking at this podcast, it's a book about it's everything. It's the book that we wrote. Yes. That we wish we had when we first started. So we didn't buy the properties the first year we were together. It took us a couple of years to build. I wish we would. I wish we knew the secrets when we started. So that's why we wrote the book was like, hey, why don't we help others? Fast forward three or four years and share everything that we've learned and they can learn from our mistakes and learn from things we've done well as well. So we're throwing it out there to sort buckets. Eighty that sword. Nobody asked for it to the point. And we've received reports of a car from someone that's reviewed it.
Dave Dupuis [00:11:32] The way I see it as it's two things. It's a use this to leapfrog, so leapfrog us with this book. The other thing is we're a little bit a kick in the get go on here. Don't make excuses. Turn off the Netflix podcasts like yourself. So just things like that just get it done before orgasm. So it's it it's going to look, I don't
Dave Debeau [00:11:51] want to steal your thunder from the book, but if you could pull one big idea, one big tip besides turn off the damn Netflix, which is awesome. Awesome tip. There will be something that you can share with our audience that that you think would be really helpful.
Melanie Dupuis [00:12:06] I probably I'd start off with and it's kind of how we start off. It is stop making excuses. So everyone talks about real estate. Yeah, I want to do it open. My my wife just had a baby or I just got to make my father sick or just coaching right now, another season or I don't have the money for dumping. So every time we talks not have time but often to speak with somebody once and that's when they come up with excuses. And I guess no one tip is stop waiting for the perfect time. It doesn't exist. Just have to start actually now and creating time for yourself. So whether that means you don't get up an extra hour early in the morning, turn off Netflix and work on your growing your portfolio or setting your goals, these different things. Yeah.
Dave Dupuis [00:12:47] And don't do that. So it's the no excuses. And then it's again, this book isn't everything really. It's not the. But it's enough to get you started. It's enough to get going. So take that motivation and here are the steps to at least get going. Buy your first place.
Dave Debeau [00:13:01] That's great. I think that's a very, very valuable book. I look forward to reading it myself, that's for sure. So you guys, do you I know you're very, very busy with your real estate investing your portfolio. Now you're in management and maintenance company. Do you guys do training and stuff like that for other real estate investors, or are you primarily focused on your own portfolio?
Melanie Dupuis [00:13:23] No, we certainly do. We we work with investors who want to get started and we're set up quite a bit differently. It's very individually based. So it's not you know, it's not over the Internet or online course, that kind of thing. So we spend time with people one on one now doesn't mean it's usually it's not face to face because most of our relationships with our clients come from different cities. We give as much or as little time as they need to, whether it's reviewing deals or I'm stuck, I don't know how to come up with a down payment. So they'll book three or four hours with us and we can help them through the next process. And some take it from one end together, a bigger packages where they say, I want to see I want to buy two properties in twelve months like you did help me to write for the year. So we'll do that as well.
Dave Dupuis [00:14:05] Yeah, I think that there's nothing wrong with webinars and all that, but you get us specifically your questions, your detailed, your scenario, your so that's that's what we like. We like to be different from everyone else like that on the
Dave Debeau [00:14:18] day that that's the biggest problem that you guys solve is the one on one hand holding the people need to get whatever. It's accustomed to them that whatever they're looking for
Dave Dupuis [00:14:28] is someone's questions or roadblocks are different from someone that may not prejudice or so they have different, you know. So, yeah, it's really accustomed to the person doing the requirements.
Dave Debeau [00:14:39] Is your ideal who's your ideal client or person that you like to work with?
Dave Dupuis [00:14:44] I don't want someone coming in. I have to motivate you, because if that's the case, I'm going to motivate you from day one. It's not going to last. So the ideal person for me is to come with a fire under them. And I'm just here instead of you wasting your time and learning things. I'm just here to take away a little bit of a learning curve, a little bit of the baby steps in the right direction and just expedite. You're going to get things going. So someone that comes motivates someone comes ready to do it. And we're just here to help you.
Melanie Dupuis [00:15:09] And somebody is willing to take those extra motivations. One thing can have all motivation for all. But, you know, they can say whatever you want, but if you're not taking action, you're not going to achieve anything. And somebody who has the motivation but also willing to put in the hours put into action so they can see the results.
Dave Debeau [00:15:27] So you're telling me there's no magic bullet?
Melanie Dupuis [00:15:30] No one? Of course not. We didn't work for them
Dave Debeau [00:15:37] forever, right, you guys? Well, we're just about out of time here on the interview. This has been great. So if people are looking for more information about Melanie and Dave to play, what would you have them do? What would you like to?
Melanie Dupuis [00:15:48] We're all over social media, so Instagram, Facebook, LinkedIn, so you can follow us on any one of those resources or book, of course, is a great way to get started as well. And you can find that information on our website as well. We have a link for with the breakwater there.
Dave Debeau [00:16:05] That's fantastic. What's your website address again?
Melanie Dupuis [00:16:07] Different properties, dot com. I'm sorry, properties, dot com, three
Dave Debeau [00:16:13] properties, dot com. There you go. Perfect. All right, you guys. And as we're wrapping up the one last minute we got on the call here. It's kind of a different version of the question we asked before, but from all your years of experience, what is the most valuable free tip that you could give folks on our call today to wrap things up?
Melanie Dupuis [00:16:32] Probably not be afraid to invest in yourself as a real estate investor. So invest in yourself. That means invest in mentor. You need to it's just going to fast forward. You know, you want your want to make one hundred two hundred three hundred thousand a year more than you are now. If you want to prosper that you have to learn from the people. Senate. That's been a huge mess
Dave Debeau [00:16:53] and I doubt you guys will. This has been great. Thank you very much for your time on our interview today and look forward to meeting you guys in person sometime.
Melanie Dupuis [00:17:01] Thank you so much for having us.
Dave Dupuis [00:17:03] Thanks, Dave. Appreciate it.
Dave Debeau [00:17:04] All right. Take care. 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 to review it. Very, very much appreciated it. 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.