Table of Contents - The Best Time to Start Investing in the Real Estate Business with René Masse
Dave Debeau [00:00:08] Everyone, welcome to this week's episode of Property Profits Real Estate podcast, I'm your host, Dave Debeau. And today it is my pleasure to be chatting with Rene Masse all the way from one of my favorite cities in Ontario, Kingston, Ontario. How are you doing today, Renee?
Rene Masse [00:00:26] Doing fabulous. Good to see you, Dave. Always looking good. Always looking very
Dave Debeau [00:00:31] good to see you do, my friend. So Renee is a very, very experienced entrepreneur and real estate investor, has been in business for himself for twenty five years. He's been a realtor, a very active real estate investor, focusing a lot on student rentals in Kingston. Also, I think you've done some small multisite buy and hold of duplexes and all sorts of different things is run real estate investment clubs. He helps people out with coaching and mentoring a bit as well. So very, very well-rounded real estate entrepreneur. Renee, great to have you on the call.
Rene Masse [00:01:09] Great, thanks. Pleasure being here.
Dave Debeau [00:01:11] So let's let's rewind. And why don't you tell us how the heck did you get into this crazy gig?
Rene Masse [00:01:19] Well, maybe you don't know. I was actually a teacher. I was a French teacher. I was a horrible French teacher. I learned French at home. So I had no idea what I was getting into six years of university. And so after about three months, I just quit teaching. Wow. I wouldn't suggest this to anyone. I got into debt and I was I was it was it was pretty hard to get things going. But what helped immensely was became a laborer, window cleaner painter. And I eventually was helping others invest in real estate by being a contractor. And that's what I really figured out. Ways, sectors, welders, they're doing well with this and they're also investing in real estate rentals. I see what they're doing. I was a student as well. So I can picture I can actually calculate how much they were getting. So this is pretty good. Also, another thing that most people don't realize is that my my father invested in real estate in the eighties in Toronto in a matter of eight years. He sold everything and it changed our lifestyle. I went to private school. We had trips to Europe. We lived as a family in France for a whole year. I don't know. I don't imagine the cost. But the 80s in Toronto, that was just amazing depreciation that occurred. So he sold in eighty nine once those taxes and all that. And so I already saw the benefit of it. So I was always I was always guided towards that to real estate. I always believe that that was my ticket to freedom.
Dave Debeau [00:02:47] Nice, nice, nice, nice. So you had a little bit of a background there. And so when did you actually make the jump? When how long have you been an active real estate investor?
Rene Masse [00:02:57] Well, I must admit it, I it wasn't as smoothly as others. I started my it never is is never easy. So I think my first offer I was 20 when I was still university. I was trying to get a property and it didn't work out. It just and for some reason it's as if I was like, OK, I need to do this. I need to have enough downpayment. I had to struggle for accumulate enough money. And in the end I waited until I was like three, three, my 30s to get started. And even then buying the second one took another five years. It really was a slow start.
Dave Debeau [00:03:33] Yeah, well, you know what, dude? I mean, look at all the gray hair in my head.
Rene Masse [00:03:38] He seems pretty good. Yeah. Yeah. Thirty three I, I'm in my thirties anymore. Dave, thanks for the government of my is. No, but I mean
Dave Debeau [00:03:52] looking back, you know, starting the best time to start real estate was, you know, twenty, thirty years ago. The second best time is right now.
Rene Masse [00:03:59] Right. Exactly. Exactly. Yeah. So there's never a time. Never for anyone listening and there's never there's never never one to wait. Never, never had a bad time. But the earlier you get your stuff together, the better off is it is it is a game in which once you're in it, it's just riding the wave.
Dave Debeau [00:04:15] Yeah, definitely. So I've ridden away for a while and you know, you get started in fits and starts we already talked about. The best idea would be to start earlier. But knowing what you know now, like if you lost it. Yeah, yeah. If you had your knowledge, how would you how would you start what would you do differently, if anything?
Rene Masse [00:04:35] I wouldn't wait that long. The one mistake the one mistake I did is I just waited or or I wouldn't do everything alone. In the beginning, I was doing everything alone. I thought I like we did renovations on my own with few people there even accumulating the down payment. I tried to do everything alone, even find the deal. I really I was the Lone Ranger. So the idea of doing it alone is really not the way to it. Once I figured once I got a bit of coaching and got a bit of help and other people do the same thing. It raised my level of game, and that helped
Dave Debeau [00:05:13] a lot, I've had the pleasure of working with you directly. I know one of the one of your strengths is definitely that you're an action taker. You are a proactive person. You actually learn something, you do something with it, which is a rare commodity.
Rene Masse [00:05:27] I like to believe. I do. I think differently, but I learn. I put it into action
Dave Debeau [00:05:32] and definitely do so. I mean, and you've run clubs and you've worked with people and you've definitely hung around a lot of real estate investors over the years. What are some of the biggest screw ups you see people making, especially when they're first starting? You know, besides maybe the NBA or do you see a lot of other people doing the Lone Ranger thing, too?
Rene Masse [00:05:49] I do. I do see a lot of the way. I see I see a lot of people who I go to courses and I meet a lot of investors and select people who are waiting for that perfect deal for some reason. And they're just waiting, making sure that everything is lined up. All the stars need to be lined up at the right moment, the right deal. And it never works that way. It never does. Nothing is perfect. You don't you get the whole run. But if you just get on first base, first base, you'll eventually get to the home run. So it like the waiting and doing it alone and not just fearful of of going about it. Another thing I noticed with people is really to make really good changes to learn. There's really just three ways. First is, is the reading in a textbook or you're learning it to go online. So it's it's passive. You're not actually doing it. The second way is actually doing it yourself, learning with all the mistakes. But the best way this is this is where I wish I'd learned this much earlier, is learning through other people's mistakes. So, for example, through coaching, once I once I got a bit of coaching, I was learning through the experience and the mistakes of other people. So that definitely helps.
Dave Debeau [00:07:02] Yeah, definitely. I mean, I think I've taught a lot of people through my own dumb ass mistakes.
Rene Masse [00:07:08] Yeah. I mean, if they're not making money off it, at least they're learning experiences for yourself. And once you've overcome them, you can share them with others and they can benefit. And so they don't have to go through that.
Dave Debeau [00:07:19] I agree. I agree. Like the sayings as a a smart person learns from their own mistakes, a wise person learn from the mistakes of others. Yeah. From time to wise up. Yeah. Very good. So everybody's got what Robert Kiyosaki, author of Rich Dad, Poor Dad would call an unfair advantage when it comes to state investing or other people call it their super power when it comes to real estate investing. I know you're you're a lovely, wonderful, modest Canadian guy, but what would you suggest is your unfair advantage or your real estate investing superpipe?
Rene Masse [00:07:54] It's a tough question. You know, it's hard to say. I initially thought it was it was like choosing tennis for some reason, working with people I generally get a good sense of. But sometimes I say this and then obviously I get a I'm working with the wrong person, so I'm moving on. But I think over the years and we're like, twenty five years of being an entrepreneur, being self-employed, running businesses is is really the persistence. I've got to say it's the persistence because it's like Winston Churchill. It's got that nice clothes. It's like if you're going through hell, just keep going. And that's that's really what has helped me along the years.
Dave Debeau [00:08:35] I was like my first marriage.
Rene Masse [00:08:40] I had failed relationships for sure, but I learned from those experiences. There's a lot of a lot of success. And this is like these are top players, you know? Yeah. They say the reason I do. I failed. I failed. I can't tell you how many times I failed relationships, the businesses. That's the reason I succeeded. Yeah, it's the only reason. So the other side of the other side of the coin of success is the failure. You've got to go through the failures. And that's what most a lot of new investors, they don't want to go through those afraid of the failures. They don't want they're afraid of failing. And I can understand because the education system doesn't really cater to family, you don't want to be failing anything. It's a bad sign.
Dave Debeau [00:09:27] You know, that's that's really, really wise advice. I joke around about it, but. Yeah, I mean, and anybody listening or watching you this I mean, you think back in your own life and chances are you've had some everybody has had success in their life. And most of us, if you look back at it, chances are you came that success didn't come super easy. Chances are you had the butt off for it. You had to fail multiple times first before you got that success. And it's the same with anything. So a lot of money
Rene Masse [00:10:01] and a lot of people get the impression that the moment, the moment they get there, everything's going to be fine. Let me tell you, the moment you get there, there's other problems, other obstacles to overcome
Dave Debeau [00:10:14] and then there moves.
Rene Masse [00:10:17] Yeah, yeah. So it's it's costly. I wouldn't want to say if you're constantly solving you're solving issues, you're always there's always obstacles to overcome. And reminds me of the book. The obstacle is the way, you know, don't don't
Dave Debeau [00:10:31] you remember
Rene Masse [00:10:32] the top of my mind. I forgot who pulled the article as the great title. You can bring it in. I know you travel often. Bring it on on on on the plane. It's a very small book and it's one of those easy chapters. You can reread it because it's a good reminder that you've got a soul. Sometimes you've got to go through those difficulties
Dave Debeau [00:10:55] just writing that down to write it down or the obstacles are great. OK, so that's good. And as you aware, because I think you watch a few of these episodes, Renia, so I ask people, what's your superpower? Next question is because again, not everybody is super persistent. So if somebody is watching this or listening to this and they say, well, yeah, that sounds great. But you know, how how do I how do I emulate that? How do I follow that advice? So what you have people that want to be better at being persistent, not giving up so easily.
Rene Masse [00:11:26] OK, this this is not an easy task. A superpower can take years to develop. But I think I over I think I tapped into it nine years ago, 19 years ago. And the reason I've tapped into it, it's to a morning routine, morning routine that involves this may seem disrespectful to keep people off, but it's true meditation and yoga. And the reason the reason is because we've been conditioned over the years to really avoid pain and discomfort. It's just human nature to avoid discomfort and yoga and hot yoga, especially in meditation. You're you're kind of rewires brain to accept discomfort and face it head on. So so going through and then simple ways of going through the physical exertion stretches the stillness or even the balancing acts, just the physically going through a bit of difficulty. It's as if the mind creates a memory bank for the mind in the body. So when something does occur and we know shit happens, you know, especially in a business, something happens that the body and the mind is already trained on a regular basis. OK, this is difficult. Let's just look at it, relax and deal with it head on. So the morning routine, including meditation, yoga, has helped to establish on a daily basis difficult moments that to occur.
Dave Debeau [00:13:01] So I can see some people watching this with an interesting one that sounds woo woo. And you know what? I just want to share something here. Yeah, I used to be one of those people who say, hey, what the hell are you talking about? That sounds like hot yoga in the morning in meditation. I'm OK. I'm OK. Yeah, yeah, yeah. For sure. Here's what I want to share about that. Yeah. It's amazing how many super successful real estate investors I have met and I know who have their own. It might not it's not that particular morning ritual, but they have their own ritual. So I was just as we're speaking right now, I'm in Regina. Yeah. Bocaranda keeps annual event and a bunch of very successful real estate investors there and other speakers whatnot. And there were people like seriously successful people talking about how they do. Meditation is very common. That one comes up over and over again.
Rene Masse [00:14:01] It's a very powerful, powerful tool, very powerful as rekey stuff.
Dave Debeau [00:14:07] The other person talking about how they do hypnosis stuff. Twelve years ago, I went to Robert Kiyosaki event. Most people listen to this mckissock and he was in this really out there, I mean, really out there stuff, including having a shaman
Rene Masse [00:14:25] really with food and stuff
Dave Debeau [00:14:29] and do all that kind of stuff. And I know and I was going like this and a few other people like, but hey, you know what? Whatever it is for you. But that's the key thing, is to have that morning ritual that or that daily ritual or whatever.
Rene Masse [00:14:41] I mean, if you want everyone looking for wealth, but if you don't have the health, like what's what's the point of having the money? There's it's miserable. You need to have the health if you maintain a healthy body, healthy diet and you've got structure. Because one another thing is that a lot of people may be listening to this and they want the freedom. Well, the freedom comes at a cost. You've got a lot too much free time on your hands is not a good thing. So I've developed ways of. Creating a structure in my own life in order to maintain balance and a happy life. That's what it comes down to.
Dave Debeau [00:15:15] So, again, the key is Rene's morning ritual might not be yours, but it's it's something to consider. But it's.
Rene Masse [00:15:22] Exactly, exactly. This is not something you can do, something that's going to you're going to become your better self. It's swimming. If it's talking to your mother on a daily basis, whatever it's going to take in order to bring up your game and to deal with difficult situations, do it. And it's it can't be chocolate or alcohol or sex. Yeah, I tried it. It doesn't work. It doesn't work. It works for every six months. It's got to be something else, something more powerful than yourself.
Dave Debeau [00:15:54] All right. Well, let's let's get all the woo woo for a second as we wrap things going. And you know, from your experience, what would be like one, what idea people could take and actually run with become more successful in their real estate business?
Rene Masse [00:16:10] Oh, I would say it's about time. Well, it reminds me, I'm noticing I meet like three types of investors, the novice investors and generally the novice investors are they're fearful and not sure what to do. But I also notice that they're earning money for themselves, although they tend to try to keep everything for themselves and they they want to do everything themselves. And you can only go so far like that monkey with
Dave Debeau [00:16:37] they're like the monkey with their end to the.
Rene Masse [00:16:39] Yeah, yeah. Exactly, exactly. And then you've got the kind of the the second level investor which they'll do it for their family and for their friends, which, which gets us at a certain level. And they have to protect those they love and that's about it. But then there's investors that I meet, including yourself, where you're earning money for others. You're helping others earn money. You're helping others succeed a greater a greater circle. And those people, I find, are more givers and they share. So to bring that down as a real estate investor and it really comes out to the perspective is for any level you're giving opportunities to people, especially if people are wanting to do JV partnerships, you're giving opportunity to the
Dave Debeau [00:17:31] average person, doesn't have a clue, doesn't know where to start. So you're actually you're providing them a very, very valuable service. You're giving them an above average return backed by something solid that you can control, which is real estate.
Rene Masse [00:17:43] Exactly. Exactly. And the second most valuable activity that you can be doing as a real estate investor is sending out more offers, some giving offers out there, especially if you're looking for deals. So that's really it's not something you can just be thinking about. You need to actually physically be doing it. Your realtor or you can actually I know people that write the offer, send it to the to the agent and they send it off. I mean, with DocuSign, there's so many ways of going about it. I'm saying you've got to find the right realtor to work with you part of your team. But the major, major investors should be No. One, giving offers and sharing opportunities with other investors. That's really well said.
Dave Debeau [00:18:27] All right, Renee. So as we wrap up, if people want to reach out and connect with you or find out more about you, what should they do?
Rene Masse [00:18:33] I've got a website called Get Better Returns, Dossier Informations on their YouTube channel and lots of videos about rentals dealing with contractors, mindset about real estate stuff.
Dave Debeau [00:18:48] So I will include the links in the show notes for this episode. It's always great chatting with you, my friend. Thanks a lot for your time today. Great, thank you. Take care. Everybody talk to you soon, but thanks very much for checking out the Property Profits podcast. You link what we're doing here, please head on over to iTunes, subscribe read us and leave us to review it. Very, very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.