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Policing, Investing, Making Mistakes And More With Jules Mckenzie

Policing, Investing, Making Mistakes And More With Jules Mckenzie
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Table of Contents - Policing, Investing, Making Mistakes And More With Jules Mckenzie

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George El Masri [00:00:00] Hello, and thanks for joining again, the Well-off podcast, I'm your host, George Elmasry, and today I interviewed Jules McKenzie, who is in Orillia, Ontario. He is a police officer, actually, and we had a really interesting conversation because he was one of the first members of Rain, the real estate investment network, now known as the Real Estate Intelligence Network, I believe. And he we kind of talked about because he's been doing this for so long, we talked about what he would do differently if he were to to restart. I also asked him about some of his colleagues, the people that he's seen for a long time at rain. What have they done that has led to their success? And we talk about the fundamentals of real estate investing that we covered a lot in this one. And I think for for somebody who's looking to get advice from a fellow investor that's been doing this for a long time, this is a great episode for you. So have a listen. Let me know what your thoughts are. Share this with your friends and family. Make sure to leave us a review comment. Do it. What you got to do to make sure that we spread the message around and again, go to well-off Nazia forward slash report if you want some free real estate content. Lots of good stuff down in there for you to download. Enjoy the episode. Welcome to the War podcast, where the goal is to motivate, inspire and share success principles. I'm here with Jules McKenzie today. Jules has been investing in real estate for over 18 years and uses a simple buy and hold strategy. Him and his wife have acquired over 50 properties by developing relationships with people who became their investors. And recently they sold and refinanced other properties to some of the investors that they worked with, and they're holding on to 14 income producing properties. So, Jules, I saw also that you're a police officer with the Ramos police service, Cinerama. That's cool. That's interesting.

Jules McKenzie [00:01:50] Dramarama First Nation.

George El Masri [00:01:52] Awesome. Awesome. Well, first of all, welcome to the show. I mean, to say so. So, Jules, the way I like to start off is by asking you a little bit about your childhood. If you want to just tell us a few things that you remember from then. And, yeah, we'll start that way.

Jules McKenzie [00:02:10] OK, my childhood, so we're going to take a deep dove then.

George El Masri [00:02:13] That's right. Yeah.

Jules McKenzie [00:02:15] Well, thanks for having me on the show, George. I really appreciate it. You have a very interesting and insightful podcast. I'm originally from Kippot Quebec, which is about 50 miles east of North Bay. My father was the chief of our little indigenous reservation and my mom was a band manager. They only got CMHC money for 30 houses and they had to house about 300 people. So that math didn't work out so good. So I bought a brunt of a lot of tough decisions my parents had to make. So I was picked on quite a bit as a child by my fellow indigenous people in in Kippie. And then if that wasn't enough, we went to Thomas Camming Quebec Public School, where there was some anti English sentiment. I always spoke English and I still really only speak English. There was a separatist movement on on the run, on the go at the time when I was growing up back then. So times were a little tough emotionally and personally. However, it was a beautiful place to grow up on lake kippot, lots of motorsports, four wheeling and tela boats and snowmobiles. So, yeah, that's a little bit about my childhood that.

George El Masri [00:03:39] That's awesome. That's awesome. So I guess you are. So you said your family is originally from a reserve, is that right?

Jules McKenzie [00:03:47] That's right. Yes.

George El Masri [00:03:48] Oh, cool. Cool. Yeah, I'm just starting to find out a little bit more about that culture because my wife's best friend is native. So I've been identifying and discovering a lot of things that I didn't know about. Like growing up. I didn't really know anyone who was native. So it's it's cool to to find out a little bit more about that whole side of Canadian culture.

Jules McKenzie [00:04:09] Yeah, absolutely, yeah, cool.

George El Masri [00:04:11] Well, that might be a little bit offensive to say Canadian culture, but you know what I mean.

Jules McKenzie [00:04:16] I you know what you mean, and I appreciate that very much.

George El Masri [00:04:18] Yeah. Yeah. So just out of curiosity, can you tell me a little bit about your policing there with the with Casino Rama and Rama First Nation?

Jules McKenzie [00:04:29] Certainly so. I have a combined police service of about thirty one years under my belt, 11 years with the Ontario Provincial Police all over Ontario. I started in Armstrong, north of Thunder Bay, in nineteen eighty nine. I transferred to Ottawa, Canada detachment for a couple of years. Then I transferred up the Kirkland Lake detachment after my dad took sick. That was the closest I could get to him at the time. And then after he passed and things kind of settled down with the estate, I, I guess for lack of a better term, I had an opportunity to come to what they called back then, the beginning first nation. It's now called Ranma First Nation. And they were looking for some help guys to coach the new police officers. So I coached four guys in under two years. And after having a near nervous breakdown, because it's a lot of work and a lot of responsibility, they offered me a full time job with them. And at the time I said, well, have a safe, secure government job. What could you possibly offer me? So they offered me wage parity with the OP in any given calendar year and one hundred percent pension and benefits. So I took him up on it and patched over in March of 2000 and I was twenty one. I left the op for Ranma Police full time and I've been there ever since I had a small portion of my pension which was nontransferable. So it was either, you know, buy a car or go on a vacation or what are we going to do. And I got interested in investing in real estate. After a few other failed attempts on some other things, and that's been a path that has proved to be very good for our finances.

George El Masri [00:06:27] Mm hmm. What is it that drew you into real estate investing?

Jules McKenzie [00:06:31] So I started out I came home one day, I was still up then living in Australia, and there was a guy, very well dressed guy drawing circles on a whiteboard in my living room with some other well dressed people sitting in my living room watching him draw circles on a whiteboard. And that was my introduction to the Amway business, sort of Quixtar business. And although I didn't make any we didn't make any real money in that business, I learned how to contact people, do sales pitches. And I actually read the books, attended the seminars and listened to the cassette tapes. There was cassette tapes way back in the day. So that's how old I am. Yeah.

George El Masri [00:07:13] Cool. OK, so yeah. You so that kind of introduced you to the idea or kind of sparked your interest in the idea of investing in real estate. What did you do at that point?

Jules McKenzie [00:07:24] So it was shortly after I read the book Cash-Flow Quadrant, where he talks about the four quadrants, the employee, self-employed business owner and investor. And there was a chapter in there talking about how you can keep your daytime full time job and invest in your spare time. And that resonated with me. We saw a TV infomercial on television for an American based training company that was coming up to Mississauga to put on some real estate courses. And I said I could do that. That's something I can make work. And I went to the free evening seminar and sign up for the all we can.

George El Masri [00:08:06] Yeah, it happens to they got you and they hooked you on that, they sure did, hook, line and sinker. OK. All right, cool. So you invest mostly in Aurilia for my understanding.

Jules McKenzie [00:08:17] Yeah, that's correct. So we we started investing in 2001. Actually, my first property was in Angas, Ontario, which is just outside of Berri on Highway 90, and it was rundown for CLECs. The second purchase was another property in a duplex in Orillia. And the crux of the American course that I took was to buy rundown real estate and just do a little fixes to rehabilitate it. But I kind of went beyond that and got myself into some financial trouble and. Didn't have enough money to finish the renovations and, you know, rent vacancies that were carrying at the time, the courses were very expensive. And there was one part in the American course where they said that they showed us how to approach our creditors and inflate our balances on our credit cards and lines of credit. And again, they got me again. So I did that. And then they sold us courses. And, you know, I'm sure your listeners can feel my pain. Mm hmm.

George El Masri [00:09:25] So you so you were borrowing a bunch of money to do these rhinos and you had Vacances and you had this in that, and it just kind of became a little bit too much at that time.

Jules McKenzie [00:09:34] Yeah, it did. And it was starting to implode in on itself. I couldn't borrow any more money. And there was one one week I was getting mentored by the Canadian cash flow guy, Daryn Weeks, and he invited me to one more seminar because I told him I had expressed to us that I'm done with this. I'm going to let these properties go at a loss and I'm just going to, you know, move on to something else. And he invited me to this one more seminar and he says it's done. Our Campbells coming to to Toronto to open up an Ontario rain chapter. And I didn't know what that was at the time. But anyhow, I went to the seminar and I remember my wife was pretty cold with me. She didn't want me to go to the seminar. She didn't want me to sign anything, buy anything or do anything without checking with her first. And during the seminar was again in Mississauga, and Don was the keynote for a guy named Raymond Erent. And Don started talking about the top 10 towns in Ontario to invest in. So, you know, we started talking about the junction in Toronto. I had a little chuckle about that. He talked about Hamilton and Burlington, and then he talked about would be Oshawa and Pickering even talked about kids from Waterloo and Cambridge. And then he said, if you want the absolute best place with the best economic fundamentals right now to invest in, it's the Orillia and Berry corridor. And I just lost my shit. I just jumped up and down. I was whooping and hollering in the back of the room. And I remember Don looking back, saying, if you want to know something about those areas, I think you can ask that maniac jumping up and down in the back. He probably knows a couple of things about those places. He was at that school.

George El Masri [00:11:22] So that kind of gave you the motivation to continue that. Is that sort of what happened?

Jules McKenzie [00:11:26] It gave me hope. I still have to go through some financial pain, if you will, but. At least I knew that I was on the right track, being in the right geographical area to continue investing, so we did let those properties go and we did have to do some restructuring and endure some financial pain to get back on our feet. But once I started investing based on a very specific set of fundamentals, Canadian specific fundamentals, that's when things really turned around for me. I heard in one of the audios from a guy named Tim Johnson how you can you know, once you run out of money to invest, you can you have experience to bring to the marketplace. So I brought my knowledge and expertize up to this point and I brought my deals and I would sit kneecap, hook, kneecap with fellow investors in rain and pitch my deals. And I use this very sophisticated thing, this this folder of my before and after pictures to pitch my deal to my fellow investors and say, this is my before and after. And this is this is largely when I was doing doing a lot of the work myself playing my handiwork. And that's how I started attracting investors so my investors would put up the money for a down payment, closing costs a little reserve, and then I would put up the deal going mortgage and title, and then I would manage everything. I would collect the rents, deal with delinquencies, deal with maintenance issues, deal with general contractors who were there to fix maintenance issues. And my wife was doing a record keeping of bookkeeping and we would report back to our investors after a holding period of five to seven years, then we would either sell or refinance the property and I would pay back my investors all their initial capital first. And then we'd split the remaining equity 50 50. And that's when we got paid.

George El Masri [00:13:31] Cool, cool. I just want to touch on something you said. You mentioned that you eventually started investing with certain fundamentals in mind and that changed your business. What were those fundamentals?

Jules McKenzie [00:13:45] So the first set of fundamentals, it's things like population growth, transportation improvements, a booming economic environment in which the politicians don't interfere, but actually encourage growth. And then it could be things like interprovincial migration into a certain area, which was our area and. Interest rates being low at the time and are even lower now is another fundamental and then certain tactics, tactics like the like. Now they call it the BIRX technique where you buy Reno rent out and. Refinance it. So I was doing that, it wasn't called that than a few of our fellow investors were doing that strategy as well before it was called that. And those are the kind of fundamentals that I learned instead of just straight going to the seller of a property and just kicking them and beating them down until they give you the absolute lowest, deepest discounted price they can.

George El Masri [00:15:02] Sure, sure. OK, so these are more fundamentals in terms of the assets, the qualifying, the assets that you were buying. It's not so much the fundamentals in terms of your own personal spending or, you know, like how you're funding these deals.

Jules McKenzie [00:15:20] Yes and no. Keep in mind that some of these fundamentals also apply to neighborhoods like you want to invest in a in a growing neighborhood as opposed to a neighborhood that things are closing down and wrapping up. Sure, I'm not sure I kind of lost my train of thought there.

George El Masri [00:15:40] That's fine. OK, so you just to kind of recap, you you were green being a member there. It helped give you the confidence to continue. It gave you hope and you were able to start raising money to buy more rental properties. And I think at this stage, you're so right now you're at 14 properties, is that right?

Jules McKenzie [00:16:03] I was at 14 properties at one point in our career. We did a big deal in 2005 and that was four thirty eight townhouses in Aurilia. So I raised a little over a million and a half dollars for the down payment closing costs on that deal. And we closed all thirty eight. And since that time I've been selling those off in twenty fifteen. We did a big refinance, we were down to twenty two in that particular pool of properties and I went down to eleven. When I refinanced 11. A subsequent investor took over the other 11 and paid me out on those. We paid out subsequent investors and then we held on to those for the last five years. But as of late we've been selling those. We do have some small multi-family properties as well. One of my investors, she's an excellent artist in Toronto and she invests very strategically and very by the book. As far as looking at the numbers and the cash flow. And so we've invested with small, multi, six small multifamily properties with her. And there's another investment that still around. He's an executive with Hewlett Packard out of the US and we still have one property with him. So we have about 14, 15 properties. And yeah, it's it's looking pretty good. As of late. We moved into our renovation project here. So this is a the former Cavanough Spa was a spa house and it's an eighteen hundreds Victorian home that is zoned for a bed and breakfast. So right now we're renovating this property into its former glory as a beautiful, better breakfast property. We're going to have our living quarters in the back half of the property. We're building a little addition on to it and it'll be the ultimate house. And that's going to it's it'll be a good Segway into my retirement from policing, which is coming up in about three years.

George El Masri [00:18:11] Awesome. Awesome. Congrats on that. OK, so so just to kind of recap what you're saying, you started off, you were growing, you bought all these properties, you bought the thirty eight townhouses in twenty five, and then you started selling them off slowly. And at this point are you trying to pay down all of your mortgages to have the rental income subsidize your your, your work income?

Jules McKenzie [00:18:37] Not necessarily, no. I still have to I still have a lot of debt of my own to pay out during that period of time, and once we've got that under control, then we started investing again. And yeah, so it's a combination of refinancing some things and selling some things. And that strategy your you're mentioning is something that I've recently got interested in doing and in that the more I can sell, the more I can pay down debt on existing properties to start deriving some passive, not necessarily passive income off the income property, but drawing more income off the property that would have otherwise gone to debt service. Mm hmm.

George El Masri [00:19:24] OK, so your plan is that your plan kind of moving forward, just pay down and then. Yeah, OK, that's great. So how have you always worked on the same type of properties? It sounds like you started off with a fourplex, then a duplex and then moving forward. Did you. You bought the townhouse. So there is all sorts of different things. Are you do you focus on anything specific today or are you still kind of open to different options?

Jules McKenzie [00:19:50] So my my investment choice preference is small multifamily fourplex five plex type stuff because of the cash flow. If you have a vacancy, you can reasonably carry that property without too much financial trauma. But I'm always keeping an eye out on what's going on in the in the single family housing market as well. I believe that, you know, a good way to raise cash in the long term. So long term, being five to seven years is to purchase a small single family townhouse, rent it out and ride the equity appreciation up and five to seven years. And when you sell that, then you can apply that to reinvestment into a small multifamily. Or if you already own the small multifamily, you can use that capital gain to, you know, pay your taxes and then pay down debt on existing properties that you have. So a combination of both cash flow, fourplex type stuff and then equity appreciation, single family stuff.

George El Masri [00:20:56] Cool, cool. So being one of the earlier members of rain, so I don't know when rain came to Ontario, it sounds like it was in the early 2000s, is that right? It was 2003. Twenty three. So you must have seen a lot of people from that group that have done well in real estate. From what you've seen, what is it that most investors have done from that time that that allowed them to be successful real estate investors?

Jules McKenzie [00:21:26] They just allowed the they had to allow this process of investing by step by step with the rain mentioned economic fundamentals. They had to be open to adopting that philosophy and manner of investing in their own lives and stop trying to do things their way. At least that's the way it was for me. So I couldn't exert more me on the problem. I had to find a new systematic approach to it. And that's what I found with rain. And that's what I found with some of my fellow investors from back in the day. And early 20s had similar experiences. And once we adopted that, the rain system and philosophy of investing, that's when things really improved. So I would have to say that having an open mind, cooperating with your fellow investors and, you know, staying connected and associating with like minded individuals is really the key to having success in this real estate investing thing.

George El Masri [00:22:32] Sure. So what I heard you say, one of the more important things that you found is just making sure that you're following the fundamentals that they teach and rain. Some of the fundamentals that you've already mentioned earlier here and that that kind of transformed things for you. So were you were you investing in cities that, for example, didn't have a lot of population growth or something like that in the past?

Jules McKenzie [00:22:55] Well, so it's. I think that I just got lucky being that I actually live in Australia and we were also invested in Barry, so that was just sheer luck that we're in the right place at the right time. Equipped with the right knowledge. I've invested in six condos down in Woodstock shortly after the open Toyota, and we did well down there. We're out of there now. We bought them on the philosophy of the long term capital gang. And then. That first property and Aengus, that was strictly a cash flow deal, so I knew that. As long as it was rented, it would be a great property, but again, it needed so much renovations and I didn't account for that. So that wasn't that would I would say that that was one of my learning properties. And I think Angus is doing really well, being just on the outskirts of Berry. There's a big demand for new housing and that in that little town just just north northwest of Berri, the only other place that I, I do still have properties is in Coldwater, Ontario, in the village of Coldwater. It's only about a thousand people, just about a 15, 20 minute drive west of. I have a couple of small multifamily properties there. We bought for an absolute excellent price. And yeah, I accept a risk premium for going to the outer markets. And I think that's what your listeners should do as well. If you're going to go to a market that's a little bit outside of the hot zone, then, you know, there should be a risk premium. And what I mean by a risk premium is the positive cash flow should be exceedingly better than anything else you can find in the hot zone.

George El Masri [00:24:58] Got it cool. Well, if you if you could go back to the beginning of your career as a real estate investor, what would you do differently?

Jules McKenzie [00:25:09] Oh, jeez, that's a good question. I think that I probably would have bought more a couple of turnkey properties to begin with, not something that's run down or beat up just because I don't I don't have a construction background and I don't have I don't have that acumen to properly plan and strategize a big renovation like that. And I know that there's a ton of investors listening. Your listeners are probably just masters of this technique. But, you know, for whatever reason, it just doesn't resonate with me. So I probably would have bought more turnkey style properties. There's a developer in town that I bought a few fourplex and five five plex off of, and we have a great business relationship. I know he's making a ton of money on us, on the on his investment. But conversely, I believe that the buy and hold strategy is. Just as good, you know, to hang in there, you know, providing housing in the community, you maintain great relationships with your clients, who are your tenants, and you can have a great just just as great a return on your investment.

George El Masri [00:26:28] I just thought of a random question, but have you ever had the police called at one of your rental properties?

Jules McKenzie [00:26:35] Oh, for sure I have. I was I did I go each and every time? No, I didn't. I mean, most

George El Masri [00:26:42] being a police officer yourself, that's what that's what makes me wonder.

Jules McKenzie [00:26:46] Yeah. So, yeah, the policing thing, you know, I, I sometimes I don't mention it when I'm leasing up an apartment and sometimes I do a lot of times. Well now nowadays I'm pretty well known. Like it doesn't take a lot to be well known in Australia. But, you know, I'm pretty, pretty well known up here. So a lot of the tenants that we attract now just they don't want any B.S. They don't want any drama. They just want peace and quiet. And a decent landlord said that's going to look after their apartment if they can't. And that's what we provide. But I don't lean on my badge as far as, you know, dealing with tenant issues. I follow the law just like any other landlord would. But I also say that this business, 90 percent of it, is screening good tenants to to rent to in the first place. And you don't get into those situations. Absolutely. Absolutely. But, you know, sometimes, you know, sometimes people are people. You know, not everybody has a great day. And sometimes we dip into those into those troughs where things are not going well. And sometimes, you know, there has to be an intervention by the police. And that's just the way it is in real life.

George El Masri [00:27:59] How have your tenants been with all like covid with that kind of with everything going on there? And I don't know if you've purchased any properties and inherited any tenants recently, but how's that been for you?

Jules McKenzie [00:28:12] So we purchased this home during covid. We sold our personal residence. Post covid, we purchased a duplex next to the property here, and I put my my youngest daughter on title and mortgage there to give her a start in real estate investing and. Yeah, I have just before covid closed, I held my my son and his girlfriend refinanced their property, they went through a period where they had to qualify. The real hard home trustee type type financing was six and three quarters. I went on title and mortgage with them and help them qualify three point one for a new first mortgage. And their living costs went to virtually nothing like their their basement tenant and their roommate more than covers their mortgage payment taxes and insurance payment now. So during, you know, during covid, they went they both went on the CRB because they were both laid off and they were they were skateboarding and working out and playing music and just living the life of Riley. So I kind of lost my train of thought again. What was the question?

George El Masri [00:29:32] The question is, how have your tenants been? Are some of them using covid as an excuse not to pay rent, or are you finding that most have been good? And have you inherited any tenants recently that have caused any trouble for you?

Jules McKenzie [00:29:45] So I'm happy to report that all my tenants are up to date, every single one of them. And I attribute that to being supported by the real estate investment network, staying plugged in with their energy and their suggestions. One of the suggestions was to put on paper all the the resources that any tenant could ever want or need. And I did that. So locally, we have the Simko County Rent Bank. If you were in rent arrears and you were serving and for you could apply to the Simcoe County Rent Bank and get at least one or two months of arrears paid, the CRB was was a big help. And I sent my tenants a letter and explained to them that, you know, we're we're hoping that you follow the social distancing rules implemented by the government. Here are resources that you have lost your job and you're looking for financial assistance. And a lot of my tenants were very thankful that I did that. And I didn't have any delinquencies. I didn't have any rents during that period. And, yeah, everybody reasonably behave themselves. As far as I know, it's been an all right time. Now, I'll I'll contrast that with with a little story here. I'm also recognized as kind of an authority for landlords in the Orillia area. So I was invited to a city council meeting on providing assistance to landlords, commercial and residential. And I was speaking and I was reporting that I didn't have any delinquencies. I was reporting that I didn't have any issues. And so many other landlords, like they they lost seventy five percent of their income commercial tenants that basically closed up shop. They had residential tenants that they were claiming were using covid-19 layoffs as an excuse not to pay rent. And half their tenants didn't pay. You know, they were getting into financial trouble and I didn't have any trouble. So one of the counselors asked me, well, Mr. Mackenzie, what makes you so special? Why why are you not having an issue? And these are the landlords clearly are. And I said, well, I sent my letter to the tenant explaining all the resources that are available. And while I was saying that to the counselor, another landlord spoke up and interjected and said a letter, I'd never send my tennis a letter. And I thought to myself, well, there's your answer, buddy. That's why you're having trouble. You know, you're not treating it like a business. You're not treating your tenants like customers. And that's that's that's how it's going to go for you for sure.

George El Masri [00:32:31] OK, that's that's good advice for people. And that letter is useful. We obviously there were a lot of different people sharing their opinions on on how to proceed with that. And I was more so asking that question, because sometimes when you inherit a property, you don't really have a choice with regards to the tenant quality. So that's a different situation. But I'm glad to hear that you've you've had good tenants that that have paid you and and you haven't had issues during covid.

Jules McKenzie [00:33:00] Yeah. And we still follow the same screening, protest, protest process. So, you know, I, I trust but verify, verify every single thing on that application.

George El Masri [00:33:13] Absolutely. You have to. You have to at this time. Yeah. Yeah. All right. Jules, I want to jump into the next section which is the random five ask you. Yeah. I'm going to ask you five random questions and you just tell me the first thing that comes to mind.

Jules McKenzie [00:33:28] OK, let's do it.

George El Masri [00:33:29] First one is what's your favorite thing to do outdoors?

Jules McKenzie [00:33:33] Outdoors, I like walking my dog. OK, sorry, it's not more exciting than that.

George El Masri [00:33:40] It's kind of not very exciting question, so it's a good answer for that. All right. How do you get in the way of your own success?

Jules McKenzie [00:33:49] I try to do things my way, so, you know, forcing outcomes has got me into more trouble than I care to mention. So sometimes I don't know, like in in an acquisition. And, you know, as much as I preach or tell other others that I don't get emotionally involved. I get emotionally involved and I found that when I start forcing outcomes because the bank won't give me the mortgage or the vendor won't provide this contingency, when I force things to go my way and they do, I end up paying for that and in the form of negative cash flow or some some aspect of the deal that is going to cost me thousands and that could go on for a year or two. So, yeah, you know, I mostly, you know, I'm pretty good at trying to force outcomes and I really got to pay attention to that and watch myself to not do that.

George El Masri [00:34:51] Fair enough. Fair enough. OK, number three, what do you like to do that is traditionally considered feminine?

Jules McKenzie [00:34:58] What do I like to do? That's true. So I like I don't know. I like I like nice clothes getting getting dressed up, you know, I got my my my nice belt on my good pants and OK, I got a good pair of shoes on. I'm not flexible enough to show you know. That's my answer.

George El Masri [00:35:19] That's a good answer. All right. Number four, what's the most relaxing situation you could imagine?

Jules McKenzie [00:35:25] Oh. They had to go there. So it's usually around this time of year, I start planning my Caribbean vacation, so I either go to the Bahamas or Jamaica or Mexico. And this year, well, I could, but I'd have to take twice the time off and I'd have to quarantine 14 days after when I get back. So this year, I'm not going to go. The most relaxing thing is just curling up with a book, poolside on a nice cot and just melting the sun away. Nice.

George El Masri [00:36:02] I like the way you paint that picture. OK, and number five, the final question. What success principle do you live by?

Jules McKenzie [00:36:10] Have fun, make money and make a difference.

George El Masri [00:36:14] That's great. I, like all your answers, came so quickly. A lot of people have to think about it, but it's meant to be that way. Yeah. All right. So, Jules, do you have any final messages?

Jules McKenzie [00:36:25] Just keep treating your your real estate like a business. You know, be cognizant of the fact that we're still within a pandemic where your mask keep your distance, but provide continue to provide your your tenants, your customers with good service and slip them an occasional note. Let them know that there's resources out there if they find they're in some sort of financial trouble.

George El Masri [00:36:51] That's great. That's great. OK, so how do people reach you and what services do you provide?

Jules McKenzie [00:36:58] So I'm on LinkedIn very simply. Jules Mackenzie jolliest. I'm in that. I am on Instagram with my name in reverse. So it's Mackenzie. M.K. ends that I eat Jules Giulia's and then on Twitter, I'm at Mr. Jules Mackenzie and on Facebook it's just my Facebook name, Jules Mackenzie.

George El Masri [00:37:24] OK, I'll, I'll put that in the show notes so that people can. Yeah I can tag along.

Jules McKenzie [00:37:30] Appreciate that. And then what I had done previously and I'm not doing it so much more now like I'm kind of step taking my back my my foot off the throttle as far as meeting investors and raising capital to, to buy more deals. I'm just kind of holding off on that for now. And that's mostly because we have this big renovation project going on with the carving out bed and breakfast. And I want to retrain myself. So I'm moving forward when I retire from police. And I want to get my Seedcamp designation, which is a certified commercial investment number of which is a designation out of Chicago, Illinois. I want to learn about light industrial commercial office, commercial multifamily, commercial retail or any variation, combination of those, and look to do bigger deals within a corporate structure that investors could easily buy into and get out of. So for now, I'm just going to kind of take my foot off the pedal, reeducate myself, you know, get into some books and get my chem courses so that in a few years I'll be ready to get back into the market. Full swing, full time. Cool.

George El Masri [00:38:49] That's awesome. Yeah. Well, good luck with that, Jules. Thank you for sharing everything you did today. And I will be sure to include all of your information in the show notes so that people can reach out to you. And good luck with your innovation.

Jules McKenzie [00:39:02] Yeah. Thanks a lot, George. Thanks for having me and thanks for reaching out to invite me on your podcast.

George El Masri [00:39:06] My pleasure. Have a great day. It's a. Thanks once again for listening to another episode of the Well Off podcast, just want to remind you that if you do appreciate the content, all I ask is that you comment, maybe like it if you can, on the platform that you're listening to it on and finally share it with friends and family. I'd love to get the message out there and it would mean a lot if you can share it. And finally, I just wanted to offer you as a valued listener, a free copy to the roadmap to real estate investing, which is a document that I've put together which helps you identify what strategy would best suit your needs at this current time. You go over certain things that are included in this document step by step, and it'll hopefully provide you with some clarity. So have a look. You can go to w w w well off Dossie Forward Slash guide to download your free copy.

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