Podcasts

Reaching 250 Units in Edmonton Alberta with James Knull

Reaching 250 Units in Edmonton Alberta with James Knull
Download Investor Resources

Table of Contents - Reaching 250 Units in Edmonton Alberta with James Knull

Podcast Transition

George El Masri [00:00:00] Ladies and gentlemen, this is George El Masri, host of the Well Off podcast, and you're listening to a new episode with James Knull to ask him how to pronounce his name because the key is not silent for once. But anyways, James is out of Edmonton, Alberta. He is a real estate investor and realtor out there. He owns over 250 units. And we talked about his multiunit portfolio and we covered his criteria. So interestingly enough, he said his number one criteria is location and he's willing to actually sacrifice a lot of things to get the location that he wants no to size of land or lot size. And then number three, he's turned into turn towards newer properties as opposed to old dilapidated ones that need work like he like used to buy when he first started. We covered a lot of things here. We we broke down a little bit of the Edmonton market. So if you're interested in investing out there, if you're finding that it's too expensive or it's out of reach to invest in Toronto or in the greater Toronto area, Edmonton might be a good place for you to go, especially if you're into cash flow. So enjoy the episode. Make sure you share it with your friends and family. Put the word out there and leave us a review wherever you're listening to it. And if you are looking for some free reports, you can go to well-off dossie forward slash report, download some free stuff, feel free to connect with me. My contact info is on there as well and enjoy the episode. Welcome to the well off podcast, where the goal is to motivate, inspire and share success principles. Sorry, I'm here with James Canul, who is a real estate investor and realtor. He just told me that they've got two offices, so out of Edmonton and West Vancouver, if that is correct. So he's been investing and part of the whole real estate business for about 11 years now as a realtor and 10 years as a specialist in investment properties. He's got two hundred fifty plus stores in the Edmonton area. And today we're going to talk to him about multi units. We're going to talk about all sorts of real estate stuff. So, James, welcome and thank you for joining us today.

James Knull [00:02:04] Hey, thank you so much. It's an absolute pleasure to be part of the podcast and can't wait to have a great conversation with you about all things real estate.

George El Masri [00:02:12] Sounds good. So I'd like to start off by asking you about your childhood. Tell me about a little bit about where you grew up in one or two things you remember from back then.

James Knull [00:02:19] Yeah, for sure. I grew up in Edmonton, Alberta, Canada. And, you know, I think one of the most memorable things I remember is both my parents were schoolteachers and so when we had eight weeks of summer vacation, so today. So we were really lucky because we got to go on all kinds of cool family trips and family vacations and traveling and camping in the mountains here in western Canada and just lots of outdoorsy stuff every single summer. So that's that was a really fun part of my upbringing that, you know, I was really fortunate to have.

George El Masri [00:02:53] So where did your interest in real estate investing come from? Was that something that your parents were dabbling in at some point or how what happened?

James Knull [00:03:03] My dad owned a few income properties when we were very young and they ended up selling all their income properties and using the bundle of equity that they got from that to pay off the house free and clear. So that was that was pretty cool. My parents had a mortgage free house, which they know, which was a great thing for them. So they didn't really push it in terms of owning multiple properties and building a portfolio. They they dabbled a little bit. And then when they had a couple of small wins, they just pulled the cash together. So that was about as far as it dealt with real estate investing with them. But, you know, one of the main ways they got started is I was chatting with my dad about investing and about the future. And he's definitely suggested to me that why don't I just buy a house and rent out the bedrooms to my friends? And that's what I did. That's kind of how I got started, because I bought my very own frat house and it was me and my buddies and they were paying rent to help pay for the space.

George El Masri [00:03:57] And then from there, I just saw like a quick clip. You did. I guess from there you started buying more and more real estate because you noticed how well it was working for you.

James Knull [00:04:06] That's right. Yeah. I mean, the first the first house was great. You know, the rent from all of the other sellers in the house paid for the cost of living there. So I was basically living, from my perspective, rent free and building equity in the house at the same time. So I bought another one and that kind of snowballed back then. You could actually buy rental properties with five percent down so that that didn't hurt one bit. And back then the price of property that was really low. So, yeah, you know, putting together the amount of money for a down payment wasn't particularly hard, a five percent down. So it enabled me to pick up several houses with basement suites pretty darn quick for a young person.

George El Masri [00:04:46] Yeah, cool. And tell me about your journey into multiunit, because I believe that's kind of one of your that's one of your specialties or your specialty today.

James Knull [00:04:55] Yeah, exactly. So after I accumulated enough single family houses, I kind of thought and felt myself with the next logical step in my progression as an investor was to go to that quote unquote next level. And I felt the next level was multiunit residential. So I started learning about it, reading about it, educating myself, chatting with different people who are multifamily. I kind of poked around at it for almost two years before I really started taking any serious action and took the plunge, bought a 12 unit building and then just kept it going cool.

George El Masri [00:05:32] So if we fast forward to today, what do your most of your properties look like now? Did you sell off the smaller ones or do you still have those? And what what's your ideal property now?

James Knull [00:05:43] Yeah, yeah. I mean, I have picked off some of the initial properties I bought, especially some of the older ones that weren't in the best locations. So I definitely have been dealt the portfolio a little bit to make it easier to manage. But today I'm a little more choosy of property because I've got a portfolio that I'm happy with but want a really good deal comes up at a location that I, I strongly believe in. Then then I'm willing to act on it. But I'm not aggressively acquiring I just kind of sit back and and enjoy myself. And then when a deal comes up that checks every single one of my check boxes, then then I move on it.

George El Masri [00:06:21] You've sold some of your smaller properties or the ones that weren't in the greatest location locations and you started buying or reinvesting that money into larger properties. So so today, what do you look for? Like what are what some of your criteria that's really important in multi-family property?

James Knull [00:06:43] A great question. I mean, I think my number one criteria above all else is location. You know, they always say location, location, location. And the more the more I get into the industry, the more experience they get, the more time I spend being involved in real estate, the more I appreciate just how important the right location can be. So good location, infrastructure. He's in a location that I'm really interested in, that's that's a good head start. The next thing I'm into is just the size of the piece of land, like a lot size. That's an important one for me on a long timeline. The land is what holds the value of the building is kind of secondary. So I want to make sure that I've got a large piece of land land to work with so that in the future there might be future opportunities to maximize that love and land potential. And then I probably say that the last criteria and this is more specific to myself, because I'm leaning a lot more towards newer properties nowadays, ones that don't have a lot of repairs and maintenance or proper or older properties that have been totally overhauled and renovated. I'm not as interested in nowadays in doing renovation projects or taking on properties that have a ton of outstanding repairs and maintenance or anything like that. You know, properties that are fairly turnkey had a requirement for investment, that sort of thing.

George El Masri [00:08:07] OK, so it sounds like at this stage you are at a point where you want to you want a safe place to put your money as as opposed to a place where you have to be very active and force appreciation and do that kind of thing.

James Knull [00:08:21] Yeah, I'd say I mean, the word I sell is less time consuming, know I want because we're doing repairs and maintenance or overseeing large renovations or large developments. It's incredibly time consuming. There's a lot more planning that goes into it, a lot more oversight, a lot more checking in, a lot more variables. And all that just translates into more time that the property requires. And at this stage of my investment career, I want I want things that while they're they're going to be lucrative in terms of the returns that they can generate, you know, I'd rather use location and land to drive the value of my appreciation instead of putting in time of time.

George El Masri [00:09:02] Yeah. So the number one criteria you mentioned was a location. Are you willing to overpay for a property to get the location that you want?

James Knull [00:09:11] I mean, I don't know if I'd ever overpay for a property, but in good locations, command premium prices. So, you know, in Edmonton, for example, there are certain neighborhoods where the property is literally two to three times more expensive than other areas because it's a desirable location. So, you know, I will pay a premium to be in a premium location because premium locations hold their value even in market fluctuations and premium locations appreciate faster. So, you know, it's like. It's like what I pay a thousand dollars a share for a company that is growing versus a dollar a share for a company that's stagnant. There's more value in a company that has great fundamentals, even if the share price is more expensive.

George El Masri [00:09:56] Yeah, definitely. So can you break down a little bit of what the market looks like right now for you guys? Like what are some of the prices and which areas do you like? Is it like right in downtown Edmonton or on the outskirts or you just kind of give us the details?

James Knull [00:10:13] Yes. So, you know, in terms of market in Edmonton right now, I would say one of the main things that we're observing is that it's been a flat market for about five or six years in the during the time of this recording. So it's late February. Twenty twenty one. We're actually having a really hot spring market with the getting worse for the first time in a long time. And the market segment that's really cooking is the affordable, the affordable bad. And I would describe that as in Edmonton properties between three fifty or fifty. So the average house price, Edmonton is just over four hundred. So that slightly below average affordable price band is where things are going really crazy in terms of what your money will get you in Edmonton for. Four hundred and fifty thousand bucks, you can get an older house with a legal secondary suite in a decent neighborhood that's been fully renovated and refurbished. You know, it's four hundred fifty thousand bucks for the low five hundred. You can get a brand new house that has just been newly constructed in a good neighborhood with a little secondary suite, maybe eighteen hundred feet above grade and another seven, eight hundred square foot suite in the basement in terms of multifamily benchmark pricing for older walk up inventory and like be location, you're looking in the low hundreds. Four hundred and one hundred and twenty depending on location. Just just a couple of benchmarks. Downtown, concrete, high rise, high end condo inventory will be between four fifty to maybe as high as 550. But so there's a couple of benchmarks. This is a lot more affordable than the major metropolitan markets in Canada, which would be Vancouver, Toronto, you know, and it's it's pricing is definitely not at that at that scale.

George El Masri [00:12:03] Yeah. So what brings people to Edmonton? Is there obviously oil? I would assume oil is one thing, but what are some of the major things that people do there for work?

James Knull [00:12:13] Totally, totally. Oil is obviously a big industry driver. There's a lot of refineries in Edmonton and then there's a huge manufacturing sector in Edmonton. So traditionally the manufacturing sector manufactures equipment for the oil industry. So drill platforms, heavy pipeline equipment, et cetera, et cetera. All of the all of the materials needed to successfully run the oil economy. Now that the oil economy is not as hot as it was, a lot of that infrastructure has been repurposed for other kinds of manufacturing. So still a huge industrial manufacturing complex. But all kinds of diversity in manufacturing has happened in the last five years and Edmonton as years as that infrastructure has been sitting dormant, not being used for oil. The other major industry and this is actually just government. Edmonton is the government center for the province of Alberta. So there's between Alberta Health Services and the actual provincial government. There's hundreds more over a hundred thousand jobs in that sector as well, where the university center. So the University of Alberta has about fifty thousand students and staff, which, again, those activities are kind of independent to the economy. So between government and university, about twenty percent of our population gets tied up in those those two major drivers. They greater imaginary only has about a million people. So when you consider that two hundred thousand a government slash university, that's a huge segment of our population that isn't as affected by government or by market forces interested.

George El Masri [00:13:58] Yeah, there's I was just surprised because you said that oil industry or the market share has been flat for the last five years or so. So it's kind of surprising because oil prices were quite high prior to covid. So I'm not sure. Why do you think the market was flat during that time period?

James Knull [00:14:19] We were at the beginning of twenty twenty. We were the market was really heating up. It was actually a huge wave of optimism here in the province because for the first time in about five years, oil was strong. The market was clipping along. Values seem to be increasing and then covid just kind of pump the brakes on everything. So I think that might be. Why we're seeing a bit of a market resurgence right now, it's that momentum in that market, that upward pressure on the market kind of seems like it just got delayed by 12 months. So there's there's a lot going on right now. And I it'd be cool to see it continue because it's the first first really hot spring market we've seen here, probably five or six years.

George El Masri [00:15:02] So are you finding that there are a lot of investors from abroad that are coming in by abroad? I mean, Toronto, Vancouver, whatever other provinces and whatnot?

James Knull [00:15:11] Absolutely, yeah. I mean, we're we're very, very popular spot for Vancouver investors because of the different value proposition in Vancouver. It's all about equity growth. You know, in Vancouver, you're going to buy something that Mike Castle negatively. But because the market pressures upwards, there's equity growth to be had in Vancouver and Edmonton, it's more about the cash flow. The ratio of building price to available rent is slanted in the direction of cash flow. So it's a great place to own, buy and hold style rental properties. And, you know, people from Vancouver who want to diversify their portfolio to have cash flowing assets really like buying it time because, you know, in Edmonton, you can use a line of credit for your down payment and the rents are still high enough to service the debt on the mortgage and the line of credit. So for people with a lot of equity in their homes, in those major markets, it's easy to pull a hundred thousand dollars out and buy a castling property in Edmonton and basically get cash flow without any actual cash invested.

George El Masri [00:16:14] Yeah, we touched on what your money can buy you in Edmonton. So you said three fifty to four fifty is like the range of affordable homes right now and four fifty gets you a property with a legal second suite. Five hundred gets you a brand new property with a legal second suite. What would be some of the rents if we if we cover these examples here of the different properties you mentioned?

James Knull [00:16:41] For for an older, refurbished home, including utilities, so that would be your electricity, water and heating for a hundred fifty thousand dollars, refurbish older home. You know, you'd be looking at about 16 to 16, 50 upstairs and about twelve hundred twelve fifty downstairs for the brand new house. You'd be in the neighborhood of about twenty to twenty one hundred upstairs and the downstairs would probably be able to be about twelve hundred thirty, have a drink with utilities included.

George El Masri [00:17:14] Interesting. Those are actually really good numbers. Like that's pretty comparable to what you would get on the outskirts of Toronto.

James Knull [00:17:21] Yeah, you have a very strong rental numbers when you compare them as a ratio to the actual home price. So as an index, it's great for cashbook.

George El Masri [00:17:31] Nice. Yeah, that's those are awesome numbers. What about your like your multiunit so if you're talking about a 20 unit building. What are what are the rents there for? Well, you said the price per door was about one hundred. I think you said one hundred one or

James Knull [00:17:49] two hundred twenty something on the specific building. Yeah. So I think one thing you'll notice is like our cap rates are around four and a half to five for really nice new inventory. And then the inventory will be in the six range. They'll be somewhere in the middle. So for 20 to walk a building, say, 50 years old and a B neighborhood, you know, a two bedroom, one bathroom apartment will set you around a thousand to eleven hundred dollars, depending on the condition, maybe even up to the level of 50. It's really nicely renovated and the ones will get, you know, 950 to a thousand with the bachelors getting around eight hundred.

George El Masri [00:18:28] Yeah, those are actually very, very comparable to buildings in, again, outskirts like in the Niagara region. Those are probably very similar to the rents that we would get out there. Would you say that there are more tenants in Edmonton or more homeowner homeowners?

James Knull [00:18:47] I'd say. And I have to do the research to get a specific number, but I think at least thirty five percent tenants, 40 percent tenant occupancy. The thing about Edmonton is there's there's a lot of new Canadians, a lot of new Albertans because because Edmonton, such a labor centric market and manufacturing and construction being a huge part of our economy, there's a lot of jobs available that don't require high levels of specific education or high levels of English proficiency. So it's a very popular spot for people who want to make a really great living so that you can get you can get employment in the manufacturing sector in the 20 to 30 mile an hour range. But then your rent is lower, your cost of living is low. You know, it's a great place, great place to be for for people for whom that makes a lot of sense.

George El Masri [00:19:43] Yeah, for sure. So what are some of the requirements for somebody who's like, let's say out of Toronto who's looking to invest in Edmonton? What would they have to do? Is it just a standard procedure? There is like I know obviously this isn't necessarily your specialty, but just from what you know.

James Knull [00:20:05] Well, yeah, I mean, I would say it actually is our specialty, like we're in a conversation here speaking investor to investor, but I'm a realtor, I own a real estate firm. We have a ton of realtors on our team. And, you know, most of our client base are investors who are buying a lot, a lot of Vancouver. I find that the Toronto crowd ends up going going out to like the Hamilton area, Niagara region, because the numbers in that neck of the woods are similar to the timber in Vancouver. They don't really have the closest equivalent market. The cash flow is Edmonton. The Vancouver crowd really likes investing in Edmonton for those numbers. And what you need is a good team. You want to have local property management, contracting, legal, etc., all this stuff. And, you know, you obviously get a mortgage, but mortgage brokers can work Canada wide. So if you have a local mortgage broker who you really prefer, you can keep working with them, get your approval and then just have a strategy for shopping. I'm I'm kind of old school. I don't I don't necessarily recommend people buy property sight unseen. But that being said, we sold several properties sight unseen to Vancouver investors using face time and whatever over the of the year last year. So, you know, some people, they're happy doing their research remotely. And with new technology, it makes it very easy to do that. Some people want to come drive around the city if they see the properties, that sort of thing. So just planning a strategy to do the due diligence that you need to do to feel comfortable with the new market, that's going to be an important part of buying a new city as well. Now, the cool thing about buying an Alberta that you know is a bit of the old school Alberta Advantage is a couple of things we don't have. We don't have land transfer tax. So I know. I know that's a big one in DC and I believe in Ontario as well. There's no land transfer tax at all. So if you do a transaction, you know, the only things that really apply are legal transaction fees. Another another thing we do not have is your HST. It's just GST. So that makes it really easy to do business because everything you pay for from the cost of your legal fees, the cost of the utilities, the cost of handing in the cost of the property manager, you know, everything on about five percent tax instead of 10 to 15 percent tax, depending on what the situation is, which is also great. Another thing that makes it easier to do business here is our tenant laws are a lot less regulated. So evictions are easier. There's no there's no mandatory pet policies like there are some markets. There's no mandatory smoking policies, like there are some restaurants. If there's no rental rates restrictions, you can raise your rent by whatever the market will bear. So just just being a maverick from another province, it's a lot there's a lot more protections for the landlords, because if somebody isn't paying rent, I know in some provinces, people can hang around in apartment, not paying rent for months and months and months and months. And it just turns into an absolute nightmare for the landlord. But in Alberta, if somebody refuses to pay rent, it's it's very easy to get out within a month or two.

George El Masri [00:23:21] Interesting. I was actually just going to ask you about that. So what does that process look like? Let's say the first of the month comes around and the tenant hasn't paid. What do you do then? Are you able to start the eviction process the following day?

James Knull [00:23:35] But that's a great question. It's a great question. So I would say. I would say that the process that you would follow if you wanted to do it right. A lot of people will put a 14 day eviction notice on the door, but that's not actually enforceable. If push comes to shove, so the process would be on the second you would submit a notice for hearing online you to do it in person. But with covid now, we can submit our hearings online to hearing online. You get your paperwork all sorted and then you post it. You posted or hand delivery service to the tenant. It takes anywhere from three to six weeks to get a hearing scheduled. Depending on how backed up. There is only a certain number of hearing officers. So that's that's a pinch point in the process. If you go to your hearing and the tenant has not paid the rent at the time of the hearing, then typically what happens is as the landlord, you're given the option of either getting possession of the property back or allowing the tenant to have a payment plan. So if the tenant hasn't paid, you know, it's pretty much an open and shut case and it is partially paid. Or they have paid and typically there's a payment plan that's kind of their their one strike, and then if they miss the payment plan, then it's an automatic eviction. But assuming they haven't paid, you get your court order to get them out. They have a few days to collect their things and move on. And then if they refuse to leave the premises, you know, you can hire a bailiff who can enact the court order eviction. And if the tenants are extra security, that they will enlist the help of the police to escort them off the premises. Yeah.

George El Masri [00:25:17] And does that take a while sometimes to get that sorted? Because for us, our procedures to involve the sheriff, the sheriff would come to the property and enforce the tenants out if it comes to that. But that can also take a few weeks to have the sheriff booked. So.

James Knull [00:25:34] Yeah, right. Right, right. Yeah. So most of the I mean, there are there are a ton of companies that do bailiff services or as you guys call them, sheriff services. So I've never seen getting a sheriff take more than a couple of days. OK, but again, in times of high demand, it slows things down a little bit, but typically it's pretty darn quick. So if this system isn't to back up it, it is feasible to start the process on the 2nd of the month and have the tenants out by the end of the month.

George El Masri [00:26:03] Cool. That's awesome. That's how it should be.

James Knull [00:26:07] It's very, very reassuring as a property owner, because, I mean, you know, if somebody if somebody isn't paying for their cell phone service, they don't get to keep using their cell phone for free, for example.

George El Masri [00:26:16] Yeah, that's not the case here. They can use their cell phone for almost a year here for free.

James Knull [00:26:22] Oh, gosh. Yeah. Maybe a bad example.

George El Masri [00:26:27] No, I don't mean the cell phone. I'm referring to tenants living in property

James Knull [00:26:32] and a lot of horse or. Yes, calling at first. But yeah, I've seen that horse that have uncharitably you just have a tenant's living for free for, you know, and then it's and then once you finally do get them out, they it's almost impossible to collect, which is a real tragedy. I mean, it's yeah. It's discouraging as a landlord to know that you are at that risk. So that's one of the reassuring things about doing business in Alberta is. If you've got a tenant that is refusing to pay rent, then you're not obligated to let them stay for free. You can get through the process very quickly.

George El Masri [00:27:03] Sure, yeah. Obviously, the benefits of investing in the GTA and the greater Toronto area is the fact that we have appreciation. And in some markets we have a combination of cash flow as well. So we do get to experience those things. But there are some some cons as well. And obviously Edmonton has some pros there. So it's just a matter of preference. Like what? What's your risk tolerance? What do you prefer, cash flow or appreciation or whatever? And I guess you've got to make a decision based on these things.

James Knull [00:27:36] And, you know, I think I'm a big proponent of diversity and in your in your wealth plan. I know there are definitely some people out there who say it pays to be a specialist. And, you know, the advice is buy just properties of one type in one neighborhood so that it's efficient. But I'm personally a believer in diversity. So I think it does make sense to have different properties in different places. I think it makes sense to not just be in real estate, but to also have other financial instruments available. You know, the more the more you know, the more eggs you have in the baskets, the safer the basket is.

George El Masri [00:28:13] So, yeah. Are you are you investing in other things as well, like, I don't know if you do stocks or if you just do anything else that you've invested in?

James Knull [00:28:25] Yeah, I mean, I, I do the old school stuff, like just, you know, I mean, I, I like being efficient with taxes, so I max out my RSP every year. I maximize TFSA every year. I have several life insurance policies because of growth and there is tax deferred as well. You know what I mean. That's just that's just like a monthly little bit that I don't even just kind of goes out of the bank account like I just goes, you don't even notice it. Yeah. I have invested in a couple of kind of start up businesses, just friends and colleagues who have interesting business ideas, stuff like that. And then in my ask TFSA, you know, I makes it around a little bit like I don't know a darn thing about the stock market. So it's mostly FTSE and index funds as opposed to, you know, like trying to day trade penny stocks. Like, you know, I might as well be gambling at that point. So I just I just I just I like index funds for allows me for money in the markets that I believe in, but it spreads it over all the companies that are playing in that industry for sure.

George El Masri [00:29:30] OK, cool. I guess the last thing I'll ask you here before we move on is I'm just curious. Have you seen rents in your market come down at all in the last ten years?

James Knull [00:29:43] We have it to market, yes, absolutely, and we have it to market as a boom and bust economy because it does still trends with the global oil markets, which are boom and bust. So, you know, we had a market peak in twenty seven and eight, followed by a period of recession. We had a market peak in 2006, late 2014, early 2015. That has been followed by kind of a recessionary period that we're just starting to come out of. So, you know, it is kind of looking pretty good for things actually going for another growth period here in Edmonton. So there's a lot of optimism for that. And if we follow historical trends, you know, typically it's every seven to nine years Edmonton has had a boom cycle. So, you know, just just by that cycle, we are kind of due for a period of growth. Yeah, for sure.

George El Masri [00:30:33] Yeah. I mean, I think you've sold Edmonton pretty well. It seems like there is a lot of upside to going. There obviously is not for everyone, but there there will be some people that hopefully are listening to this and will open their minds to the idea of investing outside of where they live. I wanted to go into the next section, which is the random five. OK, so we ask you five random questions and you just a random yeah, you just tell me the first thing that comes to mind.

James Knull [00:31:02] Sure.

George El Masri [00:31:03] What talent would you show off in a talent show?

James Knull [00:31:07] I'm a pretty darn good skier. So if there is a way to get a ski hill into the talent show auditorium, that would be a talent. I'd probably show off for sure.

George El Masri [00:31:17] Awesome. Yeah, I'm actually going to go skiing this week for the first time in a while, so I'm really looking forward to that.

James Knull [00:31:24] Then get out there, get the fresh air and get some speed. And it's it's good for you.

George El Masri [00:31:28] Yeah, exactly. Second question. Pizza or tacos?

James Knull [00:31:33] Wow. You know what? I think I would probably say tacos, but I do have a soft spot for pizza places.

George El Masri [00:31:42] Yeah, they are.

James Knull [00:31:43] But I've been on a big fish tacos lately, so I'd say right now it's got to be the first time. Yeah. I like I like them when they're battered with a little bit of spicy or not nice.

George El Masri [00:31:52] Yeah. That's awesome. I don't know if you've ever been to California or or Mexico or something like that, but yeah. Tacos are awesome up there. Yeah. All right. Number three, what was your best birthday?

James Knull [00:32:07] Oh, boy, I've had a lot of I go pretty hard on my birthday, so I there's a lot of them in there, you know, a I like to treat myself and I like to go for a big event. I'd say probably. And my birthday. I've even heard of the music festival Coachella. Yeah, yeah, yeah. So my my birthday falls during the week at that Coachella Music Festival happens. So I've gone to Coachella several times for my birthday and that's that's always a pretty epic event. And then there are a couple of times where my birthday was in the middle of the weekend. So we went to weekend one, celebrated my birthday, we went to weekend two, which is pretty good. So, I mean, hopefully those days come back soon, covid. And I think we've all had enough of it. And I'm ready for a good music festival again.

George El Masri [00:32:54] Oh yeah, for sure. Is it Coachella? Doesn't it happen in California?

James Knull [00:32:58] It does, yeah. It's in a town called Indio, which is like a suburb of Palm Springs.

George El Masri [00:33:03] Oh, yeah. There you go. So I'm sure you've had tacos down there when you've

James Knull [00:33:06] been in that. Lots and lots of tacos and Tali.

George El Masri [00:33:10] Nice. OK, number four, what would you do on a free afternoon in the middle of the week?

James Knull [00:33:17] Well, right now, go skiing, you know, and I always keep an eye on the app, and if the powder is dampened down, then chances are I might sneak away from the office to get a few turns in. Cool.

George El Masri [00:33:30] So I'm sure you guys have some nice hills in Edmonton or I don't know if you go outside of Edmonton.

James Knull [00:33:35] Well, I'm in I'm in our Vancouver office right now. And Whistler, which was the site of the 2010 Olympics, is about an hour and 30 minute drive away. So that's it's convenient. And it's I mean, for anybody listening to knows anything about Whistler, it is one of the premier ski hills on the planet. So it's it's a real treat to have it this close, but.

George El Masri [00:33:57] Oh, yeah, for sure. I've got some friends that have actually flown out to just go down Whistler. I think they had to take a helicopter to get to the top or something like that.

James Knull [00:34:07] They might have gone heli skiing. Whistler does have a lot of different peaks, but in resort, I mean, you don't to take a helicopter, but if they're not going heli skiing, then it sounds like your friends are pretty darn good skiers. That's pretty dope.

George El Masri [00:34:19] Yeah. OK, last question. What success principle do you live by?

James Knull [00:34:25] I would say consistency, consistency is. One of the most important things, you know, so many times people start something, don't get instant results, get frustrated and quit before they even give whatever it is they're trying to do and have time to take hold. So I'm a huge advocate of just consistently doing the right things for. Focus duration of time and that apply to anything, you know, whether you're trying to get in shape or trying to start a sales pipeline into a new career, you've got to be consistent with working a system.

George El Masri [00:35:02] Oh, yeah, for sure. Yeah, that's great. Great advice. And I appreciate you sharing your story. So to finish things off. How do people reach you and what services do you provide?

James Knull [00:35:14] Yeah, you betcha. So an easy way to get a hold of us would be to visit our website w w w nogo dot com. That emoji dot com me directly. Just just email me James at Mogel our dot com and dot com and reach out to talk about if you're interested in a career in real estate, especially in the western Canadian market. We have new rules for joining our team all the time, and we love having real estate conversations with people that want to be realtors. If you're an experienced realtor, chances are there's a great opportunity for you on our team as well. And if you're an investor and you're interested in that cash flow conversation. And it's a great place to diversify your portfolio and add a bit of really stable cash flow in property, so reach out to us to talk about that. And if you're out in Vancouver, we love working with Vancouver properties, whether it's pre-sales or even just homeowners and sellers. So, yeah, we've got a lot going on and we're just happy to talk to people. Don't stay cool.

George El Masri [00:36:20] Awesome. James, thanks so much and appreciate your time. And we'll talk again soon.

James Knull [00:36:25] Yeah, man, it's it's my pleasure. Thanks for having me on. It's great conversation. And it's just about lunchtime out here on the coast, so I think I might actually go get myself some fish tacos.

George El Masri [00:36:34] Nice. All right. Sounds good. OK, enjoy your fish tacos and have a great day. Thanks. 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 Dasia Forward Slash Guide to download your free copy.

Listen To The Podcast

This article was updated on
Download Investor Resources

You may also like: