Table of Contents - How Relationships Lead to Success with Dylan Suitor
George El-Masri [00:00:02] Thank you very much for joining us today. I just want to start off by saying that I truly appreciate each and every one of you that are listening, and I really hope that there is value in this and that you're coming up with something good every single time. I'd love to hear your feedback. So if you want to connect with me, just give me a call or feel free to text me. You can reach me directly at six four seven seven one nine two zero four zero. I'd be happy to connect with you on a side note. I hope your family and yourselves are all staying safe and healthy. I wish you all the best, so I'll get right into it. Now, I did speak with Dylan Suiter and this was in the past. So this was recorded a couple a couple of months ago. And we talked about a lot of things. Obviously, Dylan's a real estate investor, a real estate agent in my office. Keller Williams signature, he started out in twenty fourteen, invested in his first course, spent seventy two thousand dollars actually on a flipping formula course, as he calls it, and he's moved on ever since. Now he only owns tons of properties. So he's going to talk about how he does it, how he gets his financing, what strategy he applies after the renovations are complete and whatnot. So I hope you'll enjoy and wish you once again all the best. Welcome to the War podcast, where the goal is to motivate, inspire and share success principles. I'm here with Dylan Sutor from Elevation Realty quick bio. He's an investor since 2008, bought his first student rental back then. He is a realtor at the time. And he started or at this time and he started in twenty sixteen. He acquired two hundred twenty five doors in about 14 months. So the number keeps growing. Every time you guys see him, you'll notice a bigger number. So he's doing a great job and we'll be diving into that. So we're going to. Well, first of all, welcome to the show and we'll get right into it. The way I like to start off by asking you about your childhood. So if you want to tell me a bit about where you grew up and maybe something you remember from your childhood.
Dylan Suitor [00:02:03] Sure. Thanks for having me on the show in the first place. And whatever I can do to share, I'm more than happy to. Yeah. So my childhood I was born in Burlington, Ontario. My parents were divorced when I was nine years old and my mom got remarried. So my stepdad is kind of like my father and she moved in with him when I was one in the lake. So I grew up in Naggar on the lake from one till I went to school. LARIA So my childhood was I was a who, what, where, when, why and how kid. I was always full of curiosity and want to know basically everything that that I could possibly ask. I was asking. Additionally, I went to a Montessori school for kindergarten and I was learning grade for grade five math in kindergarten. And I remember my mom used to bring home these mathematics books and I always used to fill them out. And I'd go back to her 20 minutes later and say, hey, they're done. And she's like, that's supposed to be a week worth of work. And I just I was addicted to numbers and kind of running math from a young age. So, yeah, that was that was kind of the introduction to me on running numbers. I was very competitive as a as a kid. I was used to being all the competitive sports. And so my competition and competitive edge just kind of pushed me through for grit and whatnot in real estate as well as real estate investing. And I went to a private school in grade nine. I didn't know anything about it. I really college. My mom just came home one day and said, Hey, do you wanna go to college? I said, sure, I don't know what that is. But she said it was really good for education and it was the best in Canada. And so I actually only knew two people out of the five hundred students that were in high school when I finally got there. And I almost left after grade nine because I didn't enjoy I was so into sports and kind of being the best that I could that I wasn't interested in partying and drugs and alcohol and whatever else comes with being a private school kid. And I found that as everyone was kind of building their little groups and little pods, that's kind of what you had to do to fit in. And so I was like, well, I'd rather not fit in then. So I was kind of on my own at that point in time. And I turned to sports and that's where I really focused heavily on track and field. I was doing my job at the time in the 400 meter I went to offset for both and placed it both until I broke my knee in grade ten and then followed through, started playing football, really fun to watch football until I had a liberal tear on my shoulder and injuries kind of derailed that. So a promising career in sports in some way, shape or form outside of high school. Quickly I got deflated and I started turning my attention more towards kind of numbers and investing, and that was where I first went to university. So there's a pretty quick recap for it.
George El-Masri [00:04:36] Yeah. Yeah. Good summary of your life. Your your life kind of reminds me of Sandi's Assenting Mackays in some ways because he as you know, he was a big golfer. He was into all sorts of sports. So when you were sharing that, I just thought of him OK, total
Dylan Suitor [00:04:50] polar opposite personalities. Yeah. But yeah, fairly similar
George El-Masri [00:04:54] childhood, I guess. Yeah. So Sudar, what where does that originate from? Just out of curiosity.
Dylan Suitor [00:05:01] So actually it's really funny because Dylan Souters never actually attended elementary school. My mom felt that just getting remarried changed my last name to which it didn't legally do so. It was great when I got called to the principal's office in Riddley and they said, we don't have a Dylan Sudar registered anywhere. And I was registered as Dylan Teneycke, which you Danesh like as Ukrainian. My stepdad is Ukrainian. And so they actually had to change my name legally to Dylan. Sudar dashed into shock. And I realized at that point in time I wasn't going to vote. I wasn't about to type out or handwrite the twenty letters or whatever was your last name. So I said, no hyphenated last name. And I'm going back to my legal limit. And as far as I know, my my father was actually born in Quebec and his parents were over in the Western European. So England and Ireland, I think, are the two background from my my dad's side is so I think my grandfather was actually Irish. So if it goes back to Western Europe,
George El-Masri [00:05:58] OK, very cool. Yeah. So people have probably seen you at different places. You're you're active in at the right club. You're you're all over social media and whatnot. Your stories often around how you were able to acquire so many doors in such a short period of time. And I've heard you on other podcasts, I've heard you share that story. And I just wanted to kind of dove in because I'm. Sure, a lot of people wonder how the heck were you able to do that? So, yeah, they have a general idea, but if we can kind of dove into that a little bit, whatever you're comfortable with. And yeah, if you if you want to kind of share that story.
Dylan Suitor [00:06:32] Yeah, I'm a fairly open book as opposed to my clients will know or a lot of investors to reach out to me. What I've done and how I've accomplished it is something that would actually take quite a bit of time for most investors. I'm happy to give tips and tricks and expedite that process, but it didn't happen overnight and buying the number of properties we bought in a short period time came with a lot of issues, but it also came with a lot of background, like there's a lot behind the scenes that went into it before it actually started. So one thing I like to try and do is every podcast I'm on, I like to be a little bit different so that it's not the same story repeated over and over again. So I like they were going to dove a little deeper in this one. And so I think the big thing was I ended up taking a program called The Flipping Formula back in 2014, maybe 13, and I was interested in real estate investing just because I had a student rental when I was going to school. And then I bought a couple of properties as condos, new builds. As I've mentioned before, I just didn't know why I didn't have a purpose or a reason behind that. And it was really getting into Keller Williams and doing the flipping formula between the two of those things that I realized I wanted to go from on entrepreneurial to purposeful, whereas instead of going and making something work, I wanted to actually think about what I was going to do and and be purposeful about it, create the system to the process around it to make sure that it was successful. And so when I was at the flipping formula, I think I spent seventy two thousand us on that and I split that with my partner at the time. We were just in the process of flipping a house in Burlington and we didn't really know what we're doing. It started off with an idea of buying a two hundred and fifty thousand dollar house and saying Katherines and we ended up buying a six hundred five thousand dollar house in Burlington. So it quickly escalated. And that was more of the entrepreneurial purpose, the entrepreneurial side of me just saying, hey, I want to flip a house, let's go buy it. I'll make I'll make it make sense. And that's not something I would ever recommend because there was really no background work to it. So we ended up doing probably 50 or 100000 or more renovations. And we had to because we were living in the property. It almost ended my relationship because my girlfriend was like, I'm moving out. This is ridiculous. I'm not cooking on cooktop and a piece of plywood countertop any longer and I wouldn't recommend it. So I would say that if you're going to do a flip, you're going to live and make it a very minor flip because it can get very uncomfortable. And showering at the gym and eating out every day isn't necessarily the way that I would recommend doing it now. However, it is something that is very important because I thought we were to be saving money, but we weren't really saving money long. But we were able to use some of the benefits of living in the house with that property. So getting a little bit deeper into that, the flipping formula, that's seventy two thousand dollar education. The one thing it did for me was tell me to. It taught me that I need to look into more local meet ups and local events. And that was why I first heard about Rain, Real Estate Investment Network. And so I went to a rain meeting just randomly because they told me to look into it. So I went to that meeting and I met Daniel Saint-Jean at that day, at that event. And that was after the first right club it ever happened. It was actually called the Soul Right Group at that point in time, and now it's the right club. So Daniel got introduced to me because Adoni came about his last name, but and he came up to me randomly and was like, Hey, who are you? I haven't seen you before and just being social. And he introduced me to Daniel and the Daniel said he had to meet up in Burlington and Daniel was actually from Nagan Lake and which is where I grew up. And so we kind of connected over that for a little while. And I got to know a little bit about the new so great group that that he was launching and so went on to a real estate investor training. And so that was kind of my introduction to the right club. Now, through that, I got to know Alphonso and Sara and and Laurel, obviously, that the founders of the group and there was actually another another woman involved in it when it first started and she moved up to Nova Scotia. So she's no longer a part of it. That's something that a lot of people don't know about the right club. But what I found was every time I went to the right club, I wanted to meet someone new. And I actually met Mike and Jen Rector at the right club, the first club I went to, which was the second one ever happened. And I remember asking them to grab the coffees. We did went up to Starbucks. And the reason there's a reason why I'm explaining this right now. And so we went to a Starbucks to grab a coffee. It just kind of created a relationship. And it was actually three and a half years later before they actually purchased a property of me. I didn't know what I didn't know and I didn't know real estate investing at that point in time. I didn't know creative financing at that point in time. There was a number of things that I was totally unaware of. I just had taken the formula. And one thing you'll notice in a lot of my track record and what you see is I'm very good at listening to what someone says and if I think it's a good idea, believing it 100 percent without doing the research. And so I did exactly that. And so they're looking for me. That told me a couple of things. They said, OK, well, if you do a full garino, it's fifty dollars a square foot. Well, those are kind of American pricing back in twenty, fourteen or fifteen, which isn't really what I would recommend for renovation nowadays. A full got run on your probably higher than fifty dollars a square foot. But that's where I started to get an idea of what what price per square foot could actually look at. And I started getting quotes and I started breaking them down to price. Square foot, and that started allowing me to estimate what a renovation would be pretty quickly, which was one really big important part to what I was doing, because I could I didn't I no longer had to rely on my party, might be able to walk in because you have the power team is as good as as you bring it together. But you also have to rely on the fact that you're the one that can be buying that property. You have to take responsibility for that property. So while with the properties we purchased, there's been a couple that haven't been as big of a victory as we would like. We are pretty good with our numbers on knowing what the renovation is going to be, which is helped me as an agent. Getting back to the conversation with Jen and Mike, it took me three and a half years to build that relationship, just like it took me over three years to build the relationship with my mortgage broker that allowed me to move forward and purchase those properties. So on the outside, people see that all the first property we purchased and close was 20, 18 October 3rd, which ended up getting delayed. But October 10th was the first one that officially closed. And we only had four that we bought in twenty eighteen three or four in about twenty eighteen, because I wanted to make sure that 100 hundred percent financing was actually a thing. Once I realized it was and it was actually closing and I was getting the funding, then we started really kicking into gear and that was what we started to buy everything we could until end of Q1 of twenty nineteen where we started making a plan to buy in the second city. And then we I remember we in July or June, July, August of 2019, we were having both I think one month we had almost 30 closings last June or July. And and that was where we kind of looked at and said, oh wow, this is an interesting situation scenario I don't really want to do again. So what it did was it forced us into making more connections. And so the other thing I'll say is that a lot of times people look at where we're at and what we did and say, OK, I want to scale that quickly. And then they'll go to their mortgage broker and say, oh, my mortgage broker said, I can't get that kind of financing or that that deal is too good to be true. You have to keep in mind that we talked to her, that I personally spoke with over 150 mortgage brokers. There is my my whole mortgage file. It's in a Dropbox. Isn't a Google Drive like everything that someone would want to look at me to? Pre-approved me is in one drive, in one spot. And I built that out because of the fact that I was shopping around so much. And that's not necessarily to say that you have to shop around all the time. But I think that given the time you talk to someone, no matter what that party member may be, if they're all of a sudden too busy, they may not they may not realize that that you're a top buyer or top client that could transform into something. So you have to position it in a way that you're just as responsible to go after and get their attention as they are for yours. And realizing more and more that that nobody's on a pedestal. So so realizing that everyone's equal and everyone's able to go out and get the same kind of opportunity, you just need to build that relationship. And I remember with Claire, I mean, there's there's conversations I've had with her before where she's like, I didn't believe that you actually going to buy the property you're going to buy. And I remember when you first came in, she laughs at it all the time. We joke about it now. She goes, Well, when I first had that conversation with you, I rolled my eyes. When I hung up the phone and I said, oh, here's another punky real estate agent who's going to go out and buy all these houses. And she's like, Now you've kind of proven me wrong and proven me that that you are actually going to go out and buy them and you are a hardworking individual. So I think that the reason I tell you that whole story is because it's not just the the fourteen, eighteen months, whatever it's been that that we've scaled up, I say fourteen is really about eight months that we bought most of our properties in. But because of the fact that we slowed down and we had some delayed closings, it spanned over about a year and a bit. And now right now we're we're starting to buy again. So we have some closing. We have a couple of closings before April, but most of our closings are after April. And we're in a position now where I've gotten the green light to go ahead with five properties a week. So I know that I within budget, if it's within to if it's under 250000 thousand purchase price, I can do about five. If I want to start looking at eight nine hundred thousand, I purchase prices, then I should probably stick to two or three a week. So knowing that system and knowing when you're going to actually close like we have two days we close on. So we're closing on Tuesdays or Thursdays. That's it. We won't close on a different day. And that avoids holidays that I avoid long weekends. And it also gives us a day in between to catch up if we need to. So realizing like understanding what we did wrong and picking apart our mistakes, we're always doing we're always improving on because there's been so many times where we have had a scenario or a situation that if we would get if we would let it, it would have totally derailed us and we wouldn't be where we're at right now. But going through and fighting through what we were at, I think on completion, which will be by the end of this quarter, we'll have everything completed. I think we're about twenty six million dollars in property and that'll be between 75 and 80 percent loan to value upon completion. Now, I will also say that because it's taken so long to complete this stuff, we haven't had the funding to renovate as much as we wanted to. So it hasn't been as productive as it could have been. We could have definitely been a lot better off and the market going up definitely helped. So if it wasn't for the market market, increasing double digits in the areas we're looking at last year, we probably wouldn't still have that. The twenty to twenty five percent equity, which means we would have had to sell some properties or we would have had to keep a second mortgage or we'd have to do another. Promissory note, whatever that would be, or inject additional capital, so there's a number of things that went right for us and learning what I've learned now and going through the Tony Robbins Platinum Partnership program, I know that I'm going to be more protective of what I'm looking at, what I'm buying, and I'm going to be more cautious because we did have a lot of stuff go wrong and we did have a lot of stuff go right. And if all that stuff that went right didn't happen, we probably wouldn't be in the same position that we are today. I'm not saying that we'd be belly up or anything, but we wouldn't be in as advantageous of it as a position. Right.
George El-Masri [00:16:52] OK, so we covered a lot of stuff here. What I wanted to ask you was the two twenty five that you purchased, the twenty five doors were those all with 100 percent financing. Same strategy,
Dylan Suitor [00:17:04] all except for the 32 unit building, the 32 unit building that I purchased, I actually bought with two other partners, one of which is my cousin. And I guess it is hundreds of financing because he bought it in cash. But he's also pretty well off. And I, I want me to dove a little deeper into how I got through the mindset with him.
George El-Masri [00:17:24] Yeah, let's cover that. But I just wanted to ask you about your 100 percent financing first, because I'm sure a lot of people are wondering, can you explain how that works? Because a lot of people don't think that it's possible. So do you want to explain that maybe briefly? Yeah.
Dylan Suitor [00:17:38] So I found one broker that because of the relationship that I built and the trust that I built, she was willing to work with me on doing the properties. So she'll finance the the purchase price. And I'm not going to share numbers, the percentages, because I think they've changed slightly and I don't know exactly what she offers right now. So I don't want to throw it out.
George El-Masri [00:17:57] And it's different. It's case by
Dylan Suitor [00:17:58] case, right? Yeah. Yeah. And so, I mean, you're going to look at somewhere between eight or nine, sometimes 10 percent interest annually. There will be a lender fee of some sort and usually two or three percent and then broker fees somewhere between one and two percent. I have talked to a couple of the lenders that'll do 100 percent financing their fees, maybe a little bit higher. Sorry, there fees maybe a little bit higher, but ultimately when I look at is we have three criteria to look at. We purchase a property and if it fits into that three criteria, I don't really care what the fees are. If I'm going to make a hundred thousand profit on it, if we're going to be 75 percent loan to value or less based on the RV we have, and if we have a six percent cap rate or higher, then we're going to purchase the home. The cap rate has changed. We used to be a little bit higher, seven or eight percent, but it has gone down a little bit just because cap rates tend to be a little bit lower now than they were in the past. But if it fits into that three criteria, if I have to pay 50 percent interest, I don't care as long as it fits into that. Now, that being said, when I say I don't care, it's not like, hey, bend me over and let's go over 50 percent interest. But I think what it really comes down to is if I find a good enough deal, then there's enough to go around. I'm always about abundance and I would rather make the deal happen and have everyone win than to to not make the happen.
George El-Masri [00:19:15] OK, so so how does that work then? You're doing 100 percent financing. Are they cash flowing after like after you've renovated them? Yes. And are you refinancing? Obviously.
Dylan Suitor [00:19:25] Absolutely. Yes. So I mean, what I just explained to you, those rates, those are for our first mortgages, second mortgages. I've gotten anywhere between nine and 12 percent. And the fees have been anywhere, anywhere from two to five percent. So I haven't I haven't done as many second mortgages because they don't tend to make sense as much. Then I also have some people that do promissory notes. So the promissory note loans will go usually in the mid to high teens and there's only one percent set up fee for that. I also have had scenarios where, like, I had one guy who did he's doing drawer's for me. So this is just an individual that we were working with and we're building relationship with right now. We're going to finish our first project with him. I think it's actually finished. It's just waiting to be refinanced. But he said he's got about four million for us starting in April and he wants to give it to us on a new project. So what what he'll do is he'll actually close the properties we purchased. It'll be in our name, but we'll purchase it. You'll give us enough money to close it and you'll give us normally thirty to forty thousand dollars to get started. We confront the first bit of the renovation anyways on kind of our cash flows and what we have right now. But that rate we've agreed to is 11 percent and with interest only payments or 12 percent if I want to pay at the end and he'll do the full purchase price plus the renovations in drawer's. So as soon as I send him an update, I usually send him photos when when we're ready, I give him an update every week, every two weeks on where we're at. Hey, we we installed the tile in the bathtubs in flowerings down and painting's ready. We're doing painting and finishes line next week, whatever that may be. And I sent him some photos and then once we're ready for the next kind of draw, we just let him know and be with us over the next 40, 50 grand to take over our materials and labor to do that work. So you understand financing really does come down to what you want to do, how you want to negotiate it and how you how you can sell it, because there's really nothing that governs a private mortgage outside of you. And I looking at it and saying, hey, this is the terms we want to create. So someone has to kind of sit down and determine what they want out of that. It has to make sense for them and has to make sense for the lender. And most of the time, the lender is only going to want to do it if they're willing to take the property back. Not that they want to take it back, but most of them, they don't want to take it back. But it has to make sense for them that way. So that's that's that's the way I've set things up with him. I would rather pay the extra one percent and not make any payments until the end. And so what we'll do is we'll have a statement of accounts at the very end. It'll discharge the mortgage and clear everything off. And we're refinancing right now. We have a couple of different lenders. We're refinancing through the first twenty million. What's worked best for us is Bank of Montreal, just through some of the investment groups that I've met up with. We'll be able to get 80 percent from them. Really close friend of mine now. And we're working with him for a while on that. I also have private banking options and most of the banks available, but those are usually sixty five to seventy five percent loan to value. And don't give us as as good of a cash out as we normally have some more money into it, although those are sometimes interest only as well more of a line of credit than there are mortgage. So if you really want increased cash flows you can that way. But what we're looking at right now is three to four hundred dollars net per month per door per month in cash flows. And the rates we're looking at right now are in the four percent range on the right side.
George El-Masri [00:22:38] OK, so sorry. You were just talking about the I'm not sure if I missed it, but you are refind with an Ellender. Yes, yes.
Dylan Suitor [00:22:46] Yes. Well, right now we're we're using BMO commercial. Yeah. Even though these units are under under five units, there are two to three to four most of the time. But we've been able to work a pretty good deal with BMO Now we're at the point where we're at about 20 million refinanced with them. So our current rep is only able to do twenty thousand or twenty million. Sorry, I can probably push them to twenty two or twenty five million. But we're starting conversations downtown Toronto now working with corporate, but they're a little bit more stringent on what they want to do because you start getting a larger portfolio a little bit more nervous for them.
George El-Masri [00:23:17] Right. So I'm assuming. Are not refining individual properties, you're doing like multiple properties under commercial.
Dylan Suitor [00:23:24] Right now we're in the process of refinancing 14, I think, as one bundle the last time we need to refinance, we did six. So it's always multiple properties. If you do one at a time, it doesn't make sense because there always is a set up fee and set up. It was like eight grand, all the legals and whatnot. They do Legal's per property, but they do a bit of a bulk property cost. So you can bring the cost down a little bit on the refinance. Yeah, we definitely want to do multiple at one time. Got it.
George El-Masri [00:23:49] OK, so yeah. So that's the only way that this strategy will work. And you're saying, well not the only way, but one of the ways you're saying that you're. Kind of delaying the interest payment until the end of the project once you verify it.
Dylan Suitor [00:24:03] Yeah, so the the higher the promissory note loans, those are always deferred interest. Are the current broker the one broker? We have this doing the majority of our properties. We do pay interest interest only payments throughout the process. OK, but the one deal that I made with that one, one gentleman, the 12 percent one that one is we deferred the whole payments. I paid a one percent premium to him to defer all payments. There's no there's no lender. If, you know, broker, if you just the legal set that up. And he was actually a referral. So I'm paying the referral source a slight referral fee on that one as well, which I was happy to do because it's a winning. Again, I'm all about abundance and winning all around. So cool.
George El-Masri [00:24:43] Well, why are you doing all this? What's the reason that you're looking to grow this huge portfolio and do all this stuff?
Dylan Suitor [00:24:52] Well, it's a great question. I think when I first got into it, I had a bit of a different reason than what I do now. I first got into it thinking like I want to replace my my my active income with passive income. I teach that class quite often and do a lot of speaking about replacing your active income with passive income. That was really the only reason I didn't like I had I owned a painting company at the time and I felt like every year I was redoing what I had done, there was no real building on it. So I wanted something that was going to build equity and build wealth. And real estate investing was a really good way for that. But what I've realized over the last little while, it was actually probably right on that same time, November twenty eighteen, I went to Tony Robbins. Unleash the power within now in New Jersey. And Tony talks about the six human needs, certainty, uncertainty, loving relationship, significance, growth and contribution, and the first four of those human needs and loving relationship is one, by the way. The first four are kind of a need that are selfish. And then the growth and contribution are the needs that are selfless. And those are the needs that that Tony says we excel when we reach and where we were living in. And so I focused on twenty eighteen, the rest of those eighteen and then all of 2000 nineteen. I really focused on focusing my energy and my time on growth and contribution and what what it did was it I was happier all the time. I was always smiling. There was not a whole lot that really got me upset. I mean, when we missed our first closing because we didn't have the funds in time, I thought the world was ending and now I go through it. It's like that's not ever what I want to do. But sometimes things are out of our control. And as long as you're doing it for the right reason and the right purpose, then then I'm able to focus on on a little bit more and the contribution side of things. It doesn't just mean donate money, it's donate your time, it's donate your energy, speak positively. Sometimes people will walk in and say, how was your day? And always say, awesome, or I'll say great. You know, I'll never be good at a lot of times I find people just they just they're program to answer. Oh, it was OK. It was good. Or it's been a pretty rough day and very rarely that you'll catch me. That'll speak negatively that way. I programed myself to always kind of focus on the positive and that really came from wanting to get back. And just recently I came back from Sun Valley, Idaho, with Tony Robbins, his financial platinum trip. And those of you who know Tony Robbins know that he's very heavily involved in Operation Underground Railroad. And basically it's the the sex trafficking of children. And it's actually past the drug trade at this point for the biggest criminal offense in the world. And there's the most children going through trafficking over even over drugs, which is insane to think about. And so Tony started to donate it for twelve hundred dollars. You can actually save a child's life. And they've sent a number of people and there's a movie coming out on it and realizing that I have a younger sister thinking about I know she wanted to go to a party all the time. I was like, no, I'm to go with you. Like I was very protective of her. There's individuals out there and there's children out there that don't have that choice. And you can sell drugs once and make money on it once. But with with the sex trade, it's like they sell these humans over and over and over again for years. And so that can be can be very profitable for the people to do it. But it's also absolutely awful. And so looking at that thinking like I don't need an unlimited supply of capital, I don't need an unlimited supply of money, but I definitely want to help and I want to contribute. I want to get back. And that's really what drives me at this point in time is I think that even the number of properties I have right now, if I was to sell them all cash out, take all my cash, dump it into a fairly secure seven percent fund that that gave a return diversified. I ran the numbers actually not too long ago. I could live on probably two and a thousand years ago. The rest of my life would never work if that was all it was for was the money, I could just do that. But now it's it's a matter of how can I help more people and. I really, really I felt my passion and real estate, I felt my passion in real estate investing. I love to teach, I love to instruct, I love to coach, I love to help. And I like to see the growth. And I also love to give back. And so why I'm doing it now is really for the ability to give back to others. And it's not a matter of being the richest that I can be. It's a matter of wealth. And true true wealth is about overall happiness. It's about the seven areas of life as opposed to just the want of money.
George El-Masri [00:29:24] Right. Have you thought about where you're going to take this, how far you're going to take it?
Dylan Suitor [00:29:28] So so my business partner, Rob, he's we there's very few people that I sit in a room with that I feel like I'm the employment or not the visionary. And when I'm with him, that's that's what it is. I'm the one who yeah, we we push each other and we think we both think really big, but he's always thinking bigger. So it always stretches me to kind of think bigger. Right now, Boeing BBJ is on his list and he's kind of brought me into the idea of, yeah, let's get let's get a jet was going to plane. It's not at all four of a jet or the plane. It's but it's entirely for the comfort. It's entirely for the inspiration that you can provide to others. I mean, my wife's statement is something that I hold near and dear to me, and it's to inspire others through success to think bigger and live on this potential. And that is all about pushing myself to to an uncomfortable limits. And by doing that, more people are inspired to do that themselves. Just last year, we ran the real estate growth summit. I believe you were there. And I just got back from Dallas, a family reunion. And I can't even explain how many people came up to me and wanted to now donate. So we donated one hundred thirteen thousand dollars and I must have had fifty conversations while I was down there around how we were able to raise money and how they how someone else could run an event in a different city, even half the size, and be able to donate back to the kids that we did it at the Bucksey Quantum Leap and a couple of charities that we donated to. And so just knowing that we were we let this pioneer this opportunity to to give back through our Young Professionals chapter, and we donated one hundred thirteen thousand last year, inspired others to do the same. We're really inspiring a number of people to grow and to give back and to contribute to to something that they're passionate about. And so I think that where is this going? I mean, it's just going to be a bigger thinker. I think on another level, the goal this year we will hit a hundred million and holdings upon completion and we actually just got the green light for some development. So we're looking at land now. We're looking to to actually start breaking ground and doing some some smaller townhouse developments. And a lot of what we do when we're renting them is we actually go through government subsidies and we do subsidized housing for people who can't afford it. So we are working with the cities and working with the government to be able to give back. And that's something that really makes me feel a lot better, too, because there's a number of landlords that, like, I'm never going to upgrade anything because my my tenants are just going to destroy it. And then all of a sudden you have slumlords that come along. We're actually going through the government to the cities and getting these people that they may not be able to afford it, but they do deserve it. They do work hard. They just been put in a bad spot because I'm sure we can all agree that bad things do happen to good people. And sometimes they find themselves upside down for a little bit. And so they'll still live in a really nicely renovated place that we've done. And we'll get a lot of time. We'll get the check directly from the government or subsidized from the government anyways. So we're really helping the cities that we're in, taking the bottom of the barrel and taking the houses that are really ugly with foundation issues or or mold issues, something that's unlivable. And we'll take those we'll turn them around and make them into really nice houses. Obviously not not Lakeshore Lakefront property, but we're making them really nice and livable for for the middle class and saying, hey, let's let's do this. Let's help the cities grow. And so that's what we're looking at doing right now, is building some purpose built subsidized housing because it's just not enough out there. So I think really what it comes down to is, yeah, there's a lot of money that can be made in real estate investing, and that's definitely a big perk and a bonus. It's it's good to be able to do all that stuff, but the money is only good for what you use it for. And you just heard me talk about a lot of the stuff that I've been doing between Tony Robbins and real estate conferences. And, yeah, I do a lot of stuff. It's a lot of fun. But every time I do, I walk away with a ton, a ton of notes. I'll probably be here until nine or ten o'clock tonight writing out some of the notes and it'll take me a week to write those all out. I have like four inch thick books of notes that I have to kind of summarize and put together, and I'll put an action plan together on how I can improve my life, how can how I can prove my wealth, what I'm going to do for my investments, and then again, how I'm going to help my team and my clients through real estate investing. So the money that I'm using, I mean, I don't spend a whole lot of money on stuff that's useless. Like I don't watch TV. I don't I don't really go out anymore. I don't I've really cut back on drinking. I'm pretty much cutting it out completely. But the drugs, like it's money that I have, goes into personal development and it goes into to training and coaching and then to investment. And that's really just to build the biggest nest nest egg that I will be able to give back and donate the most each year. It was really inspiring when I was in Idaho, Tony Robbins is saying that he donates between eight and 10 million dollars now every year and changing changing lives like no other. He has a picture that I took a picture of, just some of the stuff he's doing to give back. He's he's building houses right now in third world countries at ten thousand dollars a house through a 3D printer. It actually prints the beds and stuff in the house and for ten thousand dollars a house. He's printing these things. He's printing a hundred a year and they're actually like 400 square foot houses that people are living in. That that kind of thing is it's just mind blowing that that's the kind of thing we can do. And so I'm starting to look into a little bit more of that. How can we create more sustainable living for the world and really make a bigger difference on a larger, larger scale?
George El-Masri [00:34:47] So, yeah, how do you. So just very quickly, how do you manage stress throughout all of this? Because you're doing so much, you've got all these pretty you said you have 30 closings in July of twenty nineteen. How do you what do you do to to make sure that you don't drive yourself crazy?
Dylan Suitor [00:35:03] Um. I would I would say surrounding myself with bigger thinkers, I mean, has done a really good job of that. We've gone through a number of things together in such a short business partnership. There's there's always something that you can get stressed out, stressed and worked up about. And if I let it all get to me, I would have exploded by now and given up on the whole process. But that's not not in my DNA. I'm not the kind of person who's going to give up on something. I have grit, I have determination. And my cause and my purpose for it is so much larger than me that it won't it won't happen. I mean, one thing I can show my wrist right here, this little circle, I bought this just recently, it's called a Neukom this this little circle. Actually, there's some electrodes that go through by my nerves and then my brain. I took a 20 minute nap earlier today and through the Newcomb's system and the. The programing that they have, the songs that they have, it will actually put you into a REM sleep pretty much immediately so that 20 minute naps equivalent to about two hours. So that's what I'll do to revive and kind of reenergize myself is is the meditation or use my new calm and kind of go into that deep sleep for a short period time and my body will naturally wake up and it's like I've slept almost a half a day. So stuff like that, that really kind of grounds you deep breathing, staying at the gym and physical fitness has been something that's really helped recently. Last year and a half, I'm down almost 40 pounds and I've kept it off. All of that has put me in a peak performance position where I'm I'm at a peak state and I'm ready to take to do everything I need to do to push on and go to the next level. Awesome.
George El-Masri [00:36:43] OK, I want to touch on your coaching with Stefan Arnow. Can you I'm just curious because I follow him on Instagram. I notice that he's like pretty pretty well, somewhat famous in certain respects. So what's it been like working with them?
Dylan Suitor [00:36:57] Stefan is an interesting character, really. I really do respect Stefan. I haven't met an individual that I've gotten to know the way I do him that has more and more a more wired real estate investing knowledge. It's obviously my business partner. Robi's knows everything you possibly know about about his specific model. But Stefan seems a little bit of everything and quite a bit on everything. So you want to talk about wholesaling? I want to talk about hoteling. You want to talk about all different strategies, raising capital, whatever that may be. He's done it and he's really done it from the ground up. He's done it on his own. He is a very polarizing personality. There's a number of people that don't they can't stand them. There's some people like you shouldn't associate yourself with them. And and I totally appreciate that. And I respect that. And ultimately, it's my decision I want to associate myself with. And Stefan is he's done a really good job of breaking through a lot of my hurdles. And you ask about stress. A minute ago, I would say I attribute a lot of my my stress management to to Stefan. He has helped me through a lot of that. I've opened up and he's been my diary at times where I've just been able to share and and he'll push me through some of the some of the weaknesses, the pitfalls that I encounter along with really give me information and knowledge for for any area. So he's been a he's been an awesome mentor and coach. And I actually put my coaching membership with him on hold in October because I wanted to I wanted to repurpose my my last three months of coaching and to rebrand and my branding. He's huge on your brand is the most important thing you'll do. And I just wasn't ready to jump in. You want to be read a book and want to do a podcast and all these things. And I just I'm too I'm too focused on what I'm doing right now and I really want to get myself stabilized. And he also did his forty day fast again. So he went to the jungle and does this all forty days over Christmas and New Year's. I think he just came back out of that a couple of weeks ago.
George El-Masri [00:38:51] So 30 days with no food.
Dylan Suitor [00:38:53] Yeah. 40 days of no food. It's a second. You're doing it now. He's it's, he's, he's nuts. He's insane. And I think his big thing is saying that biblically and historically, like forty day fast is is what will take you to a whole new level. And he goes really deep on that and he talks really deep on on what the other side is all about. And he said he was like pronounced dead at one point in time after his first forty day fast and kind of revived. And he was just basically insane. It's it's really deep stuff. I'm sure you can read about it on his Instagram or on his books. I think he made a whole book. Dead Man Walking is is like volume two, volume three of one of his books. I haven't read it, but yeah, it's pretty deep. So the guy he's definitely a very interesting character and he's a great guy. You just need to get to know him and know that I take what he says with a grain of salt. There are some things that I don't don't agree with and I just won't act on those. But he's entitled to his own opinion as well. So sure.
George El-Masri [00:39:53] OK, very cool. Yeah, we cover a lot of good stuff here. I wanted to jump into the next section. Is there anything you want to add before we go go there?
Dylan Suitor [00:40:03] Yeah, I'll circle back real quick about the thirty two unit building. My cousin was was. Inherited a pretty good sum of money, and I started with nothing, my net worth was negative until a few years ago and my cousins is 30 million and multiple businesses that drive more more revenue. And so it's like, you know what, he can kind of coast and live on that for the rest of his life, getting really finding out his purpose and his wife, because this is going to help individuals if they want to try and raise capital for private financing. Our partnership really finding out what their purpose is and what it took me a while to actually get to know this, but he said that he wanted to get two hundred million in net worth. And so we started using that as leverage. It was an opportunity for us now to to say, hey, you know what, we are your golden ticket. I mean, he's not going to do the activities he needs to to triple his net worth in his life unless the businesses generate it or there's a big boom. I don't see him having the greater determination to do it because he doesn't have to. Whereas working with with myself and David, launching my other partner on the 30th, you in a building like we're driven, we're committed. And and if he's willing to kind of put the money up and work with us on this building, we want to buy more. And so how can we take this first 32 unit building and turn it into a thousand or ten thousand units and have him involved in that? And he'll be our finance partner on that. So at the rate we're paying him is a little bit higher. He's getting a third of the building and then he's also getting a percentage of the funds. So we're giving him a little bit more than we really have to. But we're building a relationship that's going to work long term, whereas he knows that he's not getting that same bill in future projects. So it was it was really overcoming and asking the questions as to why it was valuable or important to him. He doesn't. This is his first investment through real estate. He's never invested in real estate before. It's all been businesses and what he's been left. So asking the questions and finding out what is important to him about doing this deal with us. And what it really came down to was the number one thing he was he was interested in was supporting me and being in business with his cousin. And the second thing was, was getting himself from thirty million two hundred million in net worth. And so when you start looking at looking at that now, it makes it a lot easier conversation. So when you have your listeners are out there and they're trying to raise capital for a real estate investment deal or they want a joint venture with someone, they need to ask the question of why do you want to partner with me and what are you looking to get out of this relationship and be very transparent and upfront on it? Because at the end of the day, that's what's going to make, make or break that relationship moving forward. So I just want to touch on that real quick, because I think it's pretty important and something that's overlooked. A really good book that people can read is called The Power of Questions. And they can you can dig a little deeper into what asking the right questions to do for you in your business.
George El-Masri [00:42:44] Yeah, I'm glad you remember that. I totally forgot that you were going to circle back to our perfect. So let's jump into the next section, which is the random five. So I'm going to ask totally random questions. You just answer the first thing that comes to mind. Number one is have you ever walked a tightrope?
Dylan Suitor [00:42:59] Were these questions generated? Do you generate those five new every time, or is this
George El-Masri [00:43:03] like the same five? No, it's always new. It's always yeah. It's always a new question
Dylan Suitor [00:43:07] or new question. Pretty crazy. You ask one one thing I haven't done. No, I have not walk a tightrope. I've done a number of things. I have not much right now.
George El-Masri [00:43:15] OK, maybe it's something to add to your list. Are you related or distantly related to anyone famous?
Dylan Suitor [00:43:23] No, not that I'm aware of.
George El-Masri [00:43:25] OK, have you ever tried to make your own alcohol?
Dylan Suitor [00:43:28] I have not
George El-Masri [00:43:29] heard one of the things that your list maybe. Yeah, apparently if you were held at gunpoint, told that you'd be killed if you didn't impress with your dance moves, what dance moves would you pull off? I'd be dead.
Dylan Suitor [00:43:42] I mean, I'd probably have to have some my own alcohol before I got these dance moves.
George El-Masri [00:43:47] There you go. And what success principal do you live by?
Dylan Suitor [00:43:51] Oh, that's a little deeper. I really live by you can achieve anything you want to achieve, it's just a matter of putting yourself in the position, pushing yourself outside of your comfort zone and and really focusing on your main purpose and the reason for why you're doing that. So I think if you have a strong enough wire, strong enough purpose, and you're willing to fight for it, that anything is possible in this world. And I keep getting surprised every day on on more and more of what can what can happen and what can be possible. So anything is possible.
George El-Masri [00:44:28] I agree. OK, so before we wrap things up, do you want to share how people can reach you and what services you offer?
Dylan Suitor [00:44:35] Absolutely. So I have a team of including myself. There's four real estate agents now into admin. We work out of Oakville, Ontario, in the same office as you. You can find us at the right club. We are a sponsor for the right club in Burlington. So that's it. Go offline and harvester at the Holiday Inn. So we do that once a month. You can also find me on Instagram at Delineator Elevate or you can check out our Instagram handle that Robby and I just started. It is elevated, so elevated E side and so it actually stands for Spend, Invest, Diversify, its Robi's corp that he's he's building on an elevation and then elevate is is kind of the focus that I have. So that elevates it is the thing you can check out there. You can also check us on YouTube. We're starting to add quite a few YouTube videos to that now. We got a bunch of footage in Fiji will continue to release that more. Or you can reach me at the office, not only five eight four four seven, seven, eight, eight, and asked to speak with myself, my team. You can also reach us on our direct office line at nine 05, five nine two four two two zero. And you can email my assistant admin at Elevation Realty Dossie. Cool.
George El-Masri [00:45:53] All right. That's great.
Dylan Suitor [00:45:55] Thank you. Also ask what services. Yes, what service. So we were really focusing heavily right now on a couple of agents on the team are focusing on the residential side. We have we've turned into like the investment specialists, and that's awesome. And we really expect respect and appreciate all the clients that that trust us to find the investment properties and build their portfolios. My focus this year is on building a team and building large portfolios. So those who want to start looking at buildings, they want to start looking at five, ten, fifteen properties in a year, more and more. That's that's really what I want to focus on. How do we build up the systems to do that? Although we do work with first time buyers, first time investors, we've actually been fairly successful with sales so far this year. After only six weeks into the year, I think we've sold nine or ten listings and almost all of them over asking. The market's really good right now. So we're doing a lot of residential retail that way. And then. I'm working on a coaching program and I'm working on a mastermind program that I'll be releasing in the near future, so looking to try and create a couple of mastermind groups that we bring like minded individuals together, charge a nominal fee and then get them into to kind of think bigger and start building a really big real estate business school.
George El-Masri [00:47:08] Sounds good. Well, yeah, I appreciate you sharing all that stuff with us. We covered quite a bit of quite a bit of material here. So thanks again for your time and I look forward to chatting with you again soon.
Dylan Suitor [00:47:19] My pleasure. We will catch up again maybe the end of the year and I'll tell you what our 100 million looks like.
George El-Masri [00:47:25] Sounds good. Thanks for listening to this episode. I hope you enjoyed the content. And as a valued listener, I'm giving away a sample letter of intent. This letter is used once your potential CO venture expresses interest in working with you. It outlines the general structure of the deal and intentions of both parties. You could visit w w w well off dossie forward slash letter to receive your free copy. W w w well off dossie forward slash letter.