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Triathlons Apartment Buildings Taking Action With Mark Loeffler

Triathlons Apartment Buildings Taking Action With Mark Loeffler
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George El-Masri [00:00:00] Hey, everyone, thank you for tuning in to this episode of the Well Off Podcast, you're in for a treat today because I'm interviewing Mark Loeffler, who is a phenomenal human being in general. First of all, I don't even know where to start, but he's a very successful real estate investor. He owns multiple properties across the Golden Horseshoe. He's also a very successful realtor with a fairly big team. And he's also a triathlon competitor. He's done marathons. He's done all sorts of crazy stuff. And you're going to hear all about it in the interview. And one of the things that I really took from my time with him is one secret of his, which is not a secret at all. You'll have to listen and to know what I'm talking about. I really think that there's a lot to learn from this specific interview. And as always, I want to remind you, if you know someone who's looking to get into their first investment, I'm looking for beginners that are potentially buying their first, second or third investment property. I'd love for you to introduce me to them, and I'll be more than happy to take great care of them. You can check out well off that. Send me an email, send me a text message, whatever works for you, and we'll make it happen. Thank you. Enjoy the episode. Welcome to The Wealth podcast, where the goal is to motivate, inspire and share success principles. I'm here with Mark Loeffler from the Mark Loeffler team. He's the team leader in the Oakville location. He's a multiunit investor, specializes today in buying apartment buildings. However, he did start off buying more us or I should say smaller properties or single family homes. And he's done all sorts of different strategies. He's been around for a long time as an investor. Very successful, very interesting story. And I look forward to to finding out more about him. Welcome to the show. Thank you, George. Be here. Great. So the way I like to start off, I like to talk about your life as a child and your life before real estate, if that applies to you. So if you can tell us a bit about your childhood, that'd be great.

Mark Loeffler [00:01:57] Sure. I mean, I guess I grew up in eastern Toronto back there. If you know Leslieville, then it's funny. I go to a local restaurant there and the guy is like 80 years old and he goes, Mark, do you remember when we could buy this whole house for a million or this whole block for a million dollars? And now he goes one house. One house is a million dollars. I said, Yeah, John. But back then, every third house was a crack house. Yeah, that's true. And he's like, yeah, still we could have bought them all like.

George El-Masri [00:02:28] Well, yeah. Did you were your parents investors at the time or so.

Mark Loeffler [00:02:32] My parents were never investors. My parents never really made anything more than forty thousand dollars a year, so. Right.

George El-Masri [00:02:37] Which isn't like a lot of people have become wealthy with incomes like that.

Mark Loeffler [00:02:42] Oh yeah. Yeah. Except they didn't they I mean other than their house is now worth close to a million dollars. Yeah.

George El-Masri [00:02:52] So they're millionaires technically. Yeah. Yeah. All right. So you, you grew up in Leslieville. What was that like. When did you move in and where did you go to.

Mark Loeffler [00:03:00] So when I was 18 I moved basically went to London for Western Ontario University for a couple of years. And then I lived in Australia for a year. And then I moved to Woodbine and Danforth for a bit. And then I moved out to the West End Junction High Park area. Then I moved out this way, Oakville, Hamilton area.

George El-Masri [00:03:20] So. Oh, cool. All right. And so you're you went to Western. And from what I remember, your parents are German, right?

Mark Loeffler [00:03:29] My dad's German.

George El-Masri [00:03:30] Your dad's German. OK, cool. Where there are a lot of Germans in Leslieville.

Mark Loeffler [00:03:36] I mean, there was a big German club that we used to go to as a kid, I mean and mean and the Detroit area. But that that was gone after I was like five years old. So yeah. I never hung out with any Germans.

George El-Masri [00:03:49] Not much on the on the German stuff. What did you do in university and Western economics. Economics. That was your major. Yeah. OK, did you have any idea when you were studying back then that you you were going to have an interest in real estate?

Mark Loeffler [00:04:03] Not really, no. Just I just started I did economics because it came easy to me. I'm good with numbers. So then that's a lot of it. What economics is, right?

George El-Masri [00:04:15] That's right. Yeah. All right. So you get your economics degree out of university. Typically, people just find whatever job they can get just because they're not really sure what they want to do. What what was your first job out of university?

Mark Loeffler [00:04:28] So my first job was I actually worked at a warehouse and a store, but that was only because I was going to Australia and I knew when I was leaving and I didn't want to have a real job before I left. Oh, yeah. So I did that. And then I went to Australia. I played rugby for a year, did a whole bunch of different jobs over there, and then I came back and got a job at Cannan. Oh, OK. Selling printers of fixed service. Ah no I was doing toners paper. That's type of consumable products.

George El-Masri [00:04:57] OK, and when you went to. Australia, where you playing professionally,

Mark Loeffler [00:05:02] no,

George El-Masri [00:05:03] you just went just

Mark Loeffler [00:05:05] for the hell of it, it just went for the hell of

George El-Masri [00:05:06] it. Yeah, OK, cool. You come back here, you work for Kenen. How long did you work with them? Two years. Two years. And at what point did you start having an interest in real estate buying your own properties? Did that come first or did you first get interested in selling as a realtor?

Mark Loeffler [00:05:23] No, I was I was always an investor first, so I was around twenty five or rich dad, poor dad. And one of the guys at work introduced me to a realtor who was helping another guy buy a lot of properties in Newmarket, Ontario, duplexes in the patch, if you know it. And yet basically I went up, saw a couple of houses, numbers made sense. So I bought it. I read that. I read Rich Dad bought out and built the real estate riches. Mm hmm.

George El-Masri [00:05:50] OK, your first properties, you said, were up in Newmarket, New Market, and they were duplexes, duplexes. You were using your income from Kenen to to buy these homes. Yeah. OK, so while you were working at CNN, that's when you had an interest. How many did you buy while you were working there? Three. Three properties over how long? Two years or two years. Good for you. And at that time, were you able to buy it with zero percent down? No, you had to put whatever ten, twenty, whatever percent.

Mark Loeffler [00:06:22] Well, so, yes, if I moved into every one of them also

George El-Masri [00:06:27] for a little bit.

Mark Loeffler [00:06:28] Yeah, fair enough. And then as I was renovating them, I'd move in. I'd renovate them. Yeah. And then I'd move to the other unit renovated and then buy another one and renovate it, moved to the other unit, renovate it and then I bought a property in Toronto that I lived in permanently.

George El-Masri [00:06:48] OK, and did you renovate yourself at the time?

Mark Loeffler [00:06:51] I did renovate myself.

George El-Masri [00:06:52] OK, what were you doing like floors, kitchens. Pretty much everything. Pretty much everything.

Mark Loeffler [00:06:56] OK, I can pretty much do anything except I don't like to do electrical.

George El-Masri [00:07:00] Yeah. Do you still do stuff yourself. No. Even on your own home. Not at all.

Mark Loeffler [00:07:05] OK, don't touch it. I get up a couple of shells for my wife the other day that took probably six months of her nagging me. Right. And if you're listening, you don't nag. It's not like that.

George El-Masri [00:07:15] So yeah. All right. You get you got your first couple. You moved to Toronto. I know that today you are mostly a multiunit investor, from my understanding. You focus on larger properties. How big is the the biggest property on twenty to twenty two units. And you've got several of those don't you. Yeah. Yeah. OK. And are you mostly investing in Hamilton.

Mark Loeffler [00:07:39] Mostly investing Hamson. I still got some small stuff. I got a couple of duplexes in Cornwall area. Still got the duplex my wife and I bought first in, in Toronto.

George El-Masri [00:07:50] OK. Oh so that house you bought in Toronto was actually a duplex. OK, and you're so you were with your wife back then when you

Mark Loeffler [00:07:57] know, like we moved into that one. Oh yeah. At one point and then.

George El-Masri [00:08:02] OK, can you tell me about your journey going from only a couple of duplexes to now owning multiple twenty two units or twenty plus unit buildings.

Mark Loeffler [00:08:13] Huh? Well, I mean, it's a it's a 15 year journey of 15 years. Yeah. So, I mean, when I was basically stop for I couldn't get mortgages back then, like, I mean, I didn't have 20 percent down. I was refinancing those ones in new market, yet I still didn't have the money. So I started doing joint ventures. Yeah. And that led me out to doing the Cornwall Tranel. I mean we're flipping properties, anything to make income. I really haven't had a real job. I mean, I'm team leader of a KG's market and ah, now that's not a real job which actually has a salary. Yeah. And it's funny because I go in and it's my technical boss's office and say, hey boss, I'm going to take this time off. And she just says, stop calling me boss and do whatever you want. Oh yeah. As long as the numbers. Yeah, do it. Do whatever you want. OK, so I really haven't had a job in a long time. So what do we do. So we were doing flips within Zibo. I don't know if you've ever had him ever.

George El-Masri [00:09:13] I haven't had him, but I've heard of him.

Mark Loeffler [00:09:16] So we wrote a book together. That was my second book. The first book was Rent Owned, so I was part owner of Homeowner Soon and then I bought out of that and wrote the wrote a book about rent, owns my real estate license. I was ten years ago.

George El-Masri [00:09:35] Ten years ago. Yeah. Yeah. From what I remember, you said that when you got in to real estate as a realtor that you did something like 70 transactions in the first year. First year is fifty four. Fifty four transactions in the

Mark Loeffler [00:09:48] second year were some

George El-Masri [00:09:50] 60 or 70. How did you manage to do that. That's not common. Not a lot of people get into real estate. And how old were you when you when you got in 30, 30 years old, you get in a thirty first year, you do fifty something transactions. How how did you

Mark Loeffler [00:10:05] manage to do that? I mean, real estate is a contact sport, right? Yeah. The more contacts you make, the more contracts you write. Yeah. And I was just doing it in the right spots. So I was making contacts with real estate investors who people I kind of knew me or not yet they knew I knew what I was doing in the real estate investing world. So they trusted me to help them with their real estate transaction.

George El-Masri [00:10:30] Where you part of certain clubs where you maybe had access to a lot of investors that you can build relationships with?

Mark Loeffler [00:10:36] I was a member of Rain and that I was also a member of another other networking events that were happening around the area. I'd probably network three, four or five times a week.

George El-Masri [00:10:45] So, OK, so was it networking the primary factor that helped you reach that goal, or was it where you're doing cold calling and door knocking?

Mark Loeffler [00:10:53] So it was all networking. 90 percent of my deals were buyers back then. It wasn't until at some point I wanted to diversify my business and get away from pure investors, not get away from them, but and yet diversify my business and include more listings that we started cold calling. OK, then we were cold calling machines after that.

George El-Masri [00:11:16] Yeah. And you started a pretty successful team. I believe Cindy McCain was part of your team at one point.

Mark Loeffler [00:11:22] Yes, and it was part of my team

George El-Masri [00:11:24] and he's very he's doing very well today himself.

Mark Loeffler [00:11:27] And, you know, obviously, Adrian Panozzo, right? Yes. So I sold him as first he bought a flip I did in Hamilton. That was his first rental property in Hamilton.

George El-Masri [00:11:34] Really cool. Was that through Sandy or how did you own Adrian?

Mark Loeffler [00:11:39] I met him through Roger Grubb, who's a mortgage broker up in Newmarket. Oh, OK. What was Network Droits? Yeah, that's

George El-Masri [00:11:45] that's pretty cool. So I'm assuming you've built that relationship with Roger from buying your properties up in Newmarket and then.

Mark Loeffler [00:11:53] No, I just met him at different real estate investing events. He was in Hamilton. He said that if a guy wants to buy in Hamilton, can we

George El-Masri [00:11:59] help them out? Oh, cool. All right. That's that's really interesting how how you worked it out, because I was under the impression that you were doing a lot of cold calling and door knocking.

Mark Loeffler [00:12:10] So I'm beginning. We never did. Door knocking. Yeah, never. And then cold calling only came in when we started to build a team. Yeah. And we like on the team, one of the goals was to get listings because to take it from ninety percent buyers to fifty fifty at least and also diversify the business just in case, you know, whatever happens happens.

George El-Masri [00:12:31] Yeah. And OK, so let's, let's go back to the original question, which is how you got to your apartment buildings. You said that you were refinancing and then eventually you ran out of capital, you went for joint venture partners and of course, you started buying together. But did you jump right in to apartment buildings at that time or were you still buying duplexes?

Mark Loeffler [00:12:52] I was still buying like three or four properties. I could be honest with you. I mean, I think you maximize your investment on three to four properties. You can get way more. You can turn them away quicker so you can buy them vacant, turn it, put good tenants in there and refinance that way quicker than an apartment building. It's just a matter of financing all. That's right, the banks don't like it, whether when you're a commercial borrower, the more you own, the better they like you.

George El-Masri [00:13:20] Yeah, of course. And are you is that the primary reason that you started going after larger properties?

Mark Loeffler [00:13:28] That is the number one reason why I started going after larger properties.

George El-Masri [00:13:31] Right. Because in some ways, there is a bit of a gray area when it comes to joint venturing on smaller residential properties, because sometimes people aren't putting their theirselves on title at all.

Mark Loeffler [00:13:46] Yeah, and I never did. Yeah.

George El-Masri [00:13:48] So, I mean, for somebody who's risk averse, they may not want to do that kind of thing. Right. But with with a commercial loan,

Mark Loeffler [00:13:57] it doesn't matter. It doesn't matter. I'm on everything. So you're on every corner.

George El-Masri [00:14:00] Yeah. And how, how are you structuring it. Are you guys doing a corporation for for you. For yourself and then corporation for your partner and then a joint corporation for the two.

Mark Loeffler [00:14:09] So I have a corporation. He has a corporation. We have a joint one that holds the property.

George El-Masri [00:14:13] You have a joint corporation that holds a property, but yet you're still both personally guaranteeing the loan 100 percent. Yeah, OK. And do you think that you have to do that just as long as you're buying properties, or does it come to a point where you no longer will have the personal guarantee?

Mark Loeffler [00:14:29] I mean, if we're Starlite Rietz or something, probably, or I mean, we could get a loan yet it's going to be a lot less loan to value maybe a higher interest rate thing. So it's just in our best interest to guarantee the loan. I mean, let's be honest, the banks consider residential apartment buildings to be the safest asset out there. That's why you get the lowest commercial loans on them. So, you know, the fact that I'm guaranteeing it really doesn't really matter and it doesn't affect me, my credit going out there if I want to buy a personal residence or something like

George El-Masri [00:15:04] doesn't show up on your credit report, is that because it's going through the corporation? That's correct. OK, that's that's kind of weird. Just recently I met with mortgage broker said that if you buy a residential property through a corporation, it can show up on your credit report.

Mark Loeffler [00:15:20] I mean, you'd have to talk to mortgage broker. Yeah, that. Yeah, I don't know about that. I just know that

George El-Masri [00:15:25] in your experience it hasn't. Yeah. Who are you financing these apartments with. What's your what would be your preferred lender for, for something like that.

Mark Loeffler [00:15:34] We get all our stuff there Bommel right now. OK, and here's the thing. Like those things change. It's switch all the time. The reason I like BMO is they have all our stuff, right. They know everything we're doing. So it's it just easy.

George El-Masri [00:15:48] It's easy. They have all of your information, your files.

Mark Loeffler [00:15:51] So I mean, we try to do a deal through CMHC out through that first national and they wanted my my third child visa, years old, to be making one hundred thousand dollars a year. And this and like, I was just it was completely ridiculous what they wanted to jump through on something they were giving us sixty five percent loan to market price. Right.

George El-Masri [00:16:13] So I think the advantage, though of CMHC is the longer amortization period or any

Mark Loeffler [00:16:19] longer amortization period. Also, they were giving us like something like three point four, three, three or four on a on a ten year rate or something like that. So a five year would probably be below three. Yeah.

George El-Masri [00:16:31] And what would it be, just as a general comparison with BMO

Mark Loeffler [00:16:35] so we're doing like a two year with them, probably like four point twenty five or something

George El-Masri [00:16:39] like only two years. They don't they don't like to go longer or euros by your choice. We don't like do a longer. OK, so you can draw money, draw money from the property.

Mark Loeffler [00:16:48] So I mean with of our buildings we only ever get two year loans at first because we're going to try to turn as many units as possible because we're buying stuff that are undervalued or under under rent it.

George El-Masri [00:17:02] Yeah, of course. And obviously with commercial properties, it's not valued the same way as residential by any means. It's not you don't compare it to the building next door. It's more about the net operating income. That's right. Yeah, exactly. So if you're able to increase rents or decrease expenses, that has a huge impact on the value of that building. That's right. And do you find that the BMO or whoever you're working with, do they value it based on accurately value it? Because in residential, a lot of times appraisal appraiser is well under appraisal property just to protect the banks. Is that kind of similar in your situation?

Mark Loeffler [00:17:38] So I think that that cap rate that they use is a little if we could buy it, that cap rate we like everybody would be buying at that cap. Yeah. Is not reality yet. I mean, we definitely understand where they come from. If they have to take it over and do all these types of things, it's going to cost money. So they need to have a cushion built in there. Right.

George El-Masri [00:17:59] So right. But you're still finding that you're able to to draw quite a bit of equity after two years or so.

Mark Loeffler [00:18:06] Typically, like we bought one in Hamilton. Twenty two units. And two years later we we bought it for two. To back down or something like that, we just got a reappraised at three point two after two years. Oh, and they gave a seventy five percent of that.

George El-Masri [00:18:20] So, yeah. Do you find that there's a lot of competition now for these apartment buildings?

Mark Loeffler [00:18:25] Yes. Yeah, there's I mean it's it's ridiculous. Like how many people are looking and. Well the people are some people are willing to pay. Yeah. I myself among them I, I get people calling me up and say, Mark, how did you pay so much for that property. I said, I don't worry about I'll talk to you in five years. Yeah.

George El-Masri [00:18:43] Yeah. It just seems like there's Hamilton in general for some reason it's drawing a lot of people that are looking at buying apartment buildings there. Why is that, in your opinion?

Mark Loeffler [00:18:53] I mean, the economic development officer is terrific, right? Like they are creating jobs. Right. Hamilton is the most economic diverse city in any city in Canada. So that's not reliant on any one industry. And, you know, people are moving there because of the great food scene, the art scene. It's just a cool place to be. So when you see all that type of stuff, it also naturally draws investors.

George El-Masri [00:19:21] A lot of investors, a lot of investors are there. Are you starting to look outside of Hamilton? Because the prices are just they don't make sense anymore.

Mark Loeffler [00:19:30] I mean, I'm still buying in Hamilton

George El-Masri [00:19:32] that you're still finding it DCR, that makes sense with the with the price.

Mark Loeffler [00:19:36] I mean, DCR, I don't really concentrate on that. I mean, I just bought a 20 in a building at a three point four cap. Yeah. Yet I can double the rents. Right. So I can turn that into a seven and a half cap for myself. Yeah. And if you could buy a seven and a half cap you would.

George El-Masri [00:19:53] Right. Right. Well, I was more asking from the sense that I guess because the prices are so high, I don't know if the rents when they're that low because you're saying you can double them. I don't know if they're high enough to cover the mortgage payments.

Mark Loeffler [00:20:06] Not at first.

George El-Masri [00:20:07] Not at first.

Mark Loeffler [00:20:08] So here's the thing. I to look at break even for the first two years, no matter what, because I'm always thinking I'm going to have turnover. And even the first four years, I mean, I tell my investors like we're not going to take any cash flow out of this thing for probably five years. Yeah. And if we get a great refinance after two years, like we did on the first one, you get all your money back and then, yeah, the next round, we're we're all making money and you have your money back. Now, let's go do another one. Let's go do something else.

George El-Masri [00:20:36] Right. Right. It sounds like your investors are putting more than the minimum down payment required in order to qualify for these properties. Now we're

Mark Loeffler [00:20:45] putting twenty five

George El-Masri [00:20:46] percent. Twenty five percent. And you're still breaking even. Yep. So it's pretty good.

Mark Loeffler [00:20:49] Plus, I mean, you've got to remember, we have a portfolio that's, you know, we're not taking we don't take any income from it. The portfolio is basically feeding that property and some renovations and that type of stuff.

George El-Masri [00:21:02] Yeah. Yeah. OK, so when you're buying these properties in your quaff, you're going after that mortgage. Are they taking into account all of the other properties you have as well? A hundred percent. OK, that's helping you qualify. Yep. Yeah. And are you opening separate corporations for every apartment building you own?

Mark Loeffler [00:21:20] No, we put up to about ten million dollars in real estate and each one. So I think we would cap it around six because we know the value is going to go up. And once it gets past ten million dollars in loans to any one corporation or any one individual, it has to go. It goes to the next level. OK, so we just have one to bump up against that next level just yet.

George El-Masri [00:21:41] OK, so I'm assuming you would have different rules and regulations to abide by if you if your corporation's worth over X dollars.

Mark Loeffler [00:21:48] If we have that much in loans. I, I believe so. We just haven't done that. OK, so we've just kept it simple and. Yeah.

George El-Masri [00:21:56] And do you see yourself continuing on this path, moving forward or at some point do you just think, OK, either I'm done with this or I want to because obviously over the years you've won it, you've reached for bigger and bigger goals. Are you still looking for something bigger or are you kind of just cruising along?

Mark Loeffler [00:22:12] If I can find the right property and it fits and we can make it work because of the systems and models I've set up in my business for me to buy a property, it doesn't take that long. Right? I've managed, but I have a contractor on on the team. I have all that type of stuff. Right. So it really doesn't take very much for me to to put the properties together. Yeah. So, you know, as long as my partner and my partner wants to keep buying, I'm going to keep buying probably. And even after that, I mean a personal I keep buying. Do I mean, as long as I'm finding deals where I can get 30, 40 percent increase in rents plus some, you know, some money saved on economies of scale, you know, the fluorescent lighting, putting in low flow toilets, low flow, saving some water money, that type of thing. Right? Yeah, I'll keep buying for sure.

George El-Masri [00:23:12] Well, since you touched on it, can you kind of kind of walk us through some of the main things other than what you just mentioned that you would do when you first get into a really not well managed apartment building? What are some of the things that really help increase the value or maybe decrease the expenses or just overall help improve the quality of life there in the building?

Mark Loeffler [00:23:34] Yeah, I mean, so we can anything that we pay electricals for, we're putting in fluorescent light or not fluorescent like LED lighting. So obviously lower cost will put in low flow toilets like reduced flow showerheads. So not that they reduced the pressure is just just as the water usage and just simple things like that. And then over time as people leave, we'll renovate the units and get them up to snuff and we'll do the common areas. And that type of thing just depends on the building. What steps go in which place? Yeah.

George El-Masri [00:24:14] What kind of renovations are you doing to these units? Are you putting in laminate or are you going with something different? Are you putting in a very basic kitchen or is it a high end with quartz or granite?

Mark Loeffler [00:24:24] Yeah, so it depends on the building. We only buy concrete construction now and a lot of them still have the old hardwood. Laws which were refinished, which is our number one, we love to do that if we can. Number two, we'll put in vinyl down kitchens. We're using IKEA kitchens and we do use a a marble our quartz countertop and put a double sink in. All of our units typically have a dishwasher and we put laundry in the units as well.

George El-Masri [00:24:52] OK. Every unit has its own laundry, typically. Yeah. Are you separating the meters, water or hydro?

Mark Loeffler [00:25:00] So it's hard to separate the water after the fact. If we do like I've done a couple of projects where we're basically renovating the whole property. So I've done one in an 18 unit and a 19 unit that we were able to separate the water out. Those are the only two it. I've been able to do that.

George El-Masri [00:25:19] So you gutted those to the studs? Yeah. Yeah, right. And that was pretty easy for you to to put in some some meters.

Mark Loeffler [00:25:26] What? I mean, once you're running all new water lines for everything anyways, you might as well. Yeah. And we had to run on the water lines for both of them. So it just made sense to whereas in an existing building, in a concrete construction, it's just not feasible. Yeah. It just doesn't make economic sense.

George El-Masri [00:25:42] Right. And do you also look for opportunities to increase the number of bedrooms in a unit, or is that something you don't really like to mess with?

Mark Loeffler [00:25:49] I mean, I'll look at it if I can. Like if there's a big one bedroom for a two bedroom, then I definitely will do it, saying that I've never have of added units to the properties, OK? I mean, I did sell 50 units way back when to somebody and they added a you know, they made it from two to three bedrooms in each of the units. So, yeah.

George El-Masri [00:26:09] Would you prefer having a building with, say, two or three bedrooms as opposed to having a bunch of one bedrooms?

Mark Loeffler [00:26:16] Yeah, I always prefer two bedrooms. Here's the thing. The more bedrooms you get, the longer they stay.

George El-Masri [00:26:21] Exactly.

Mark Loeffler [00:26:22] That's all it is. Right. So I once I once I get that person, once I get that renovated and turned, I don't want that person to leave. I want them to stay as long as possible.

George El-Masri [00:26:31] Right. Right. Because then you have your property management company that will increase the rents every year.

Mark Loeffler [00:26:36] Yeah. The whole one point six percent or whatever. Yeah.

George El-Masri [00:26:39] Not much but. Yeah. But would it be beneficial

Mark Loeffler [00:26:42] when you got one hundred units. Yeah.

George El-Masri [00:26:43] Helps of course. Yeah. But would it be beneficial for you to have higher turnover so that you can continue to maintain market rents.

Mark Loeffler [00:26:52] So at some point like the turnover becomes like it, it becomes a loss leader. Right. So I mean how much are you going to actually get extra in rent as opposed to what you were getting? Yeah. And then if you miss a month.

George El-Masri [00:27:04] Exactly.

Mark Loeffler [00:27:04] That's like, you know, if I miss a month at twelve hundred dollars compared to the eleven hundred dollars I was getting, almost rather just keep the person at eleven hundred, raise them up one percent for this year or two percent, whatever it is and moving forward.

George El-Masri [00:27:19] OK, so most of your buildings are somewhere around two to three bedrooms for the most part, two, maybe two bedrooms

Mark Loeffler [00:27:25] on one or two bedrooms. And I'm probably on the portfolio split 50 50 on that

George El-Masri [00:27:30] 50 percent, one bedrooms, 50 percent two bedrooms.

Mark Loeffler [00:27:33] And I got a couple of bachelors.

George El-Masri [00:27:35] Yeah, OK. Have you ever thought about private equity funds starting one yourself?

Mark Loeffler [00:27:40] Yeah, I did think about it for real estate for. Yeah, yeah. My issue with that is there's like I mean you set up a limited partnership and you got to go to the market for funds and right away you're paying out 10 percent in fees and commissions and that type of stuff.

George El-Masri [00:27:59] What do you mean you're paying that right away?

Mark Loeffler [00:28:01] So like, if you're in a limited market dealer, al-Amoudi, that you pay them commissions. Right.

George El-Masri [00:28:09] OK, to be to be registered,

Mark Loeffler [00:28:11] to be on their shelf all this time, all regulations and all that type of stuff. So right away I'm only investing 90 cents out of every dollar I'm getting. OK, so now I have to make that hurdle. So I have to make a 12 percent return on the money before I even break even. And then if they're guaranteeing eight percent, then, you know, I got to make 20 percent on that money before I ever make a dime. I mean, I think it's way easier just to keep it simple. And, you know, there's some people out there doing smaller, limited partnerships that they're not paying out those fees. Maybe that's the way to go yet again. If you can get a partner who will sign for a mortgage, just set up a corporation and go like I mean, I know some guys who run some of those big funds and they'd much rather do simple JVs all day long because it's better for everybody.

George El-Masri [00:29:02] Yeah, OK. Well, you said you have to be 10 percent up front with 10 percent of what?

Mark Loeffler [00:29:08] So if you invest. So if I if I get a private equity limited partnership. Yeah. So I that's in commissions and fees. So let's say I invested one hundred dollars, ten dollars goes to pay the limited market deals and that type of stuff. Got it.

George El-Masri [00:29:25] Why is that. You know is that something that's just Ontario or is that. Pretty common all over.

Mark Loeffler [00:29:31] I can speak from experience in Ontario, yeah, and I think it's pretty common across Canada, across Canada.

George El-Masri [00:29:38] What about doing it in the States? Have you ever thought about investing there? Do you invest in the states?

Mark Loeffler [00:29:42] I have never invested in the States. I've had friends who invested in Rochester, Buffalo, Florida,

George El-Masri [00:29:48] probably didn't do too. Over in

Mark Loeffler [00:29:51] Buffalo. They did great in Buffalo or they were buying at auction. They're buying duplexes for twenty five hundred dollars

George El-Masri [00:29:57] worth twenty five hundred. While were they, were they renting them or selling them. Flipping them. Renting.

Mark Loeffler [00:30:03] Oh yeah. I think they might still own them. I don't know. Yeah I have. I've actually like a lot of American friends who like I got a guy in Omaha, Nebraska and he's flip in five houses a month and he's holding five houses a month. You know, he's doing by rent or reifies, you know. So I've definitely looked at it. I just haven't done anything about it.

George El-Masri [00:30:26] What you're doing is working, so there is no reason for you to start something completely different.

Mark Loeffler [00:30:31] I mean, that would just be a diversification play for me, because everything I own is in Canadian assets. If the Canadian dollar tanks more, it's nice to have. Yeah. US dollar assets. Right.

George El-Masri [00:30:42] So do you think the real estate market will tank in Canada?

Mark Loeffler [00:30:46] I don't think so. I mean, I go back to talking to the CMC economists like three years ago when we were in our best year ever. And he goes, yeah, we're going to see a dip next year. And yet it's still going to be one of the first, second or third best years ever. And he goes at the end of the day in the Golden Horseshoe region, like we see one hundred two hundred thousand people moving in every year. Right. They got to live somewhere. So that's why I just keep saying when people tell me, like, well, you're paying so much for that apartment. Yeah. And yet there's two hundred thousand people are going to move in here and they got to live somewhere. Yeah. And I don't see people building apartment buildings or building rental units. Right. Yeah.

George El-Masri [00:31:27] Well have you ever thought about doing that yourself. I am from scratch,

Mark Loeffler [00:31:31] I have yet the cost to do it just doesn't make sense for what I can buy them for. Like a just bought a building for one hundred and twenty five thousand dollars, a unit in Hamilton, in Hamilton. So to go out and build that would probably cost me a heck of a lot more.

George El-Masri [00:31:47] Yeah, for sure. So, yeah. How are you finding your your building's networking.

Mark Loeffler [00:31:53] Networking. One hundred percent networking just. And then you get a reputation for being able to close and close quickly and these types of things and not being a pain in the ass to deal with and people. So it's like they, they, they come to you and say, hey, I got this building, you know, are you interested? I'll give you first crack at it. Yeah, I'm interested. Let me see if I can put a deal together if we can. And again, I tell people within twenty four hours, if I'm if I'm a go or not. Yeah. Right. So I don't waste their time.

George El-Masri [00:32:23] How much of your time are you spending analyzing deals.

Mark Loeffler [00:32:27] Not very much.

George El-Masri [00:32:28] So you know pretty quickly. OK, these are the parameters that I'm looking for. I'll run these quick numbers if it doesn't match it done. If it does, then you look into it a little bit more. Is that right?

Mark Loeffler [00:32:37] Yeah, pretty well, yeah. OK, and then I'll go see it. I mean I bought stuff sight unseen to and just done a walk through of all units for my inspection. Right. So yeah.

George El-Masri [00:32:48] Where does all of this come from for you. The, this drive to be you're already successful but I mean where did this all come from.

Mark Loeffler [00:32:56] I don't know, I get bored easily. I don't like it, so I just can't sit around and do nothing. Yeah, like you like the reason I buy more apartment buildings is because, I mean, we do have the team set up and we have everything set up. And it's you know, it's not like it's not like I need another one or not anything like that. It's just more of a you know, why not? Why not.

George El-Masri [00:33:18] And was it always like that for you? Well, obviously, when you started out, you didn't have all the things you have now. You didn't have the team in place. You didn't have necessarily the JV partners. Where did that come from? What is it that makes you want to in the past? What is it that made you want to be successful?

Mark Loeffler [00:33:36] I don't know. That's a good question. I've never really sat down and thought about it. Um, it's just a game. It's like

George El-Masri [00:33:42] Monopoly. Yeah, right. You want to win the game, so just go out there and win the game. Is that what is that how you see like this is a game that you can win. Yeah. So what's your goal then. What would be winning for you.

Mark Loeffler [00:33:55] That's a good question. I ask that people ask that of people all the time. Yeah. And I think I'm winning.

George El-Masri [00:34:00] You think you're winning the game? I think I'm winning the game. Why?

Mark Loeffler [00:34:04] I don't know. Because I have the life I want to live.

George El-Masri [00:34:06] OK, that's interesting. What does your life look like? What are you doing on a on a daily basis?

Mark Loeffler [00:34:13] So now I mean, I go I work out once a day or twice a day because I do a triathlon. Yeah. And I also got to fit and I do some adventure racing here and there too, which I like.

George El-Masri [00:34:24] What's adventure racing?

Mark Loeffler [00:34:25] Basically they give you a map and say a topographical map. Here's your compass. You got to hit here, here, here and here. At this point, you got to walk or run this point. You got to ride your bike. This point, you're going to canoe and go. See you later. So cool. Yeah. So we do one. That's a 30 hour race.

George El-Masri [00:34:48] Thirty our race. Is it ten, ten, ten or ten for running. Ten for.

Mark Loeffler [00:34:54] It's one hundred and fifty kilometers. Yeah. Like thereabouts. And you can be like last year it was jeez I don't even remember but I know that like 80 kilometers or 90 kilometers of that was cycling on like some pretty tough, tough like mountain biking. It was on ATV trails and snowmobile trails and wow, we, we had some very deep puddles of water. It was raining and one of the guys on our team knocked himself out on one of them. So, yeah. Wow, that was fun.

George El-Masri [00:35:25] Thirty hours straight. Yeah. In your triathlons, for those who don't know, I've heard the numbers I forget because it's pretty ridiculous. But can you tell us what the breakdown is of a triathlon.

Mark Loeffler [00:35:35] So swim, bike, run. I just did a half ironman which is one point nine kilometer swim, ninety k bike, twenty one point one kilometer run.

George El-Masri [00:35:44] Wow, that's insane. When you're preparing for these things, do you have a coach you work with Chip, what do you eat to before you do stuff like this.

Mark Loeffler [00:35:55] OK, well there's a whole thing up to that, but yeah. Well can at any point I try to limit sugar, I try to eat Whole Foods, I try to stick to the you know, on your plate you have a quarter of its protein, a quarter of its starch and half of its vegetables.

George El-Masri [00:36:11] Yeah, that's just keep it simple. Basically eat good things. Eat good things. Why why limit sugar.

Mark Loeffler [00:36:17] Sugar's inflammatory, really. Yeah, so if I'm eating a lot of sugar, I notice that I can't I'm getting a joint pains and stuff like that, so

George El-Masri [00:36:26] I had no idea. Mm hmm. OK, so do you how do you feel after running a half Ironman or whatever?

Mark Loeffler [00:36:34] Well, it depends. I was just in Dubai and so I did the one in Dubai half hour and Dubai, and I felt pretty dehydrated because it was hot.

George El-Masri [00:36:42] Of course.

Mark Loeffler [00:36:43] Yeah. So, I mean, I don't know. It's just like anything, right? Like if you do it enough, at some point it becomes like buying another apartment building. I feel about that. Well, it's another apartment building. It looks great. Yeah. We're going to make some money on it. Yeah.

George El-Masri [00:36:58] You know, when you're doing these things, you don't ever feel like giving up

Mark Loeffler [00:37:03] or I mean, so I was doing Ironman Dubai and in the first mile of the run I cramped up so bad I could hardly stand up. Wow. And it was like, well, I'm not stopping, just keep moving. I stopped and I stretched a little bit to get my legs where I could actually stand up because I was holding on to a pole. And and yeah, I just that no thought everyone in my head that I'm not going to finish this.

George El-Masri [00:37:29] And I think it will see when I when I hear your stories, I just think of like there's certain people that are just kind of above average when it comes to accomplishing things. And that's that's kind of what I see. So I'm just trying to understand, what is it that makes you capable of doing a half Ironman and marathons here and there and triathlons and and buying, being very successful as a real estate investor, as a real estate agent, all of these things.

Mark Loeffler [00:37:58] So here's a thing. Anybody else can do this. This isn't rocket science, right? None of this is rocket science. I'm not super smart. I'm I'm I'm pretty good with numbers like, you know, other than that. Yet with computers, I don't need to be really good at numbers. Everything goes on a spreadsheet anyways and alongside a number at the end of the day. And I just make a judgment call whether I'm good with that or not. It's just the fact that I do it.

George El-Masri [00:38:23] Just action taking action. That's it. Is it also fearlessness?

Mark Loeffler [00:38:27] Oh, no. Like afraid of stuff yet it's a matter of just move forward anyways. Right there. Yeah. Have you seen that movie. Yes, man. No, you got to watch that. It's pretty funny. Yeah. Yeah. He has to say yes to everything. Yeah. So then the question comes back to why do I do triathlon is I had a buddy who does all the flips in Omaha is was three hundred pounds and he's like, I'm going to do this half ironman. I said, Jeff, if you're going to do it, I can do it. Saying, OK, we'll do it together. And then there was like eight or ten or twenty guys or some point they were doing this and like, OK, so we had a little bit of a group together.

George El-Masri [00:39:04] And how how did you have a group in Omaha? Yeah, it's called the Internet, my friend. I also give each other updates. I mean, you weren't training together.

Mark Loeffler [00:39:13] No, I mean, I went down there at one point to see Warren Buffett's thing and we train together. We met like we all went skiing in Whistler was just a networking group. Right. So I went skiing in Whistler and did some stuff out there. So, yeah, I mean, and it's just a matter I said yes, you said yes. And then right away, once I said yes, I'm like, OK, what have I got myself into. OK, well first off, I need to actually get a bike and I'm going to hire a coach so I don't die on this, you know, that's OK.

George El-Masri [00:39:45] So you're saying that in order to beat for you, for all the success that you've experienced, it's all been about taking action. That's it's nothing else. It's not it's not that like you said, you're not smarter than everyone else. You're not you didn't grow up in a family where they showed you how to do all these things or they they gave you a bunch of money to for you to to play with and grow your wealth. You just took action.

Mark Loeffler [00:40:08] Just take action.

George El-Masri [00:40:09] Massive action.

Mark Loeffler [00:40:10] I just I just say yes.

George El-Masri [00:40:11] You just say, yeah, yeah, yeah.

Mark Loeffler [00:40:13] Just say this. Don't somebody comes up to you with an idea like my buddy Omar Con. You've met Omar, right?

George El-Masri [00:40:19] I haven't, but I've heard of them.

Mark Loeffler [00:40:21] OK, yeah. And he came up the way with this, the derivatives trading. And I'm like, OK, sounds interesting. Sounds complicated. Yeah. And he's like, well just read this blog. It's simple. Simple. OK, so I read the book. I said, well it's not that hard. Yeah. And then I start small and I build it up over time. Yeah. Right. And it's.

George El-Masri [00:40:42] Can you tell us about that a little bit. So we

Mark Loeffler [00:40:45] do naked. It puts in covered calls. If you want to get the book it's money for Nothing. Stocks for Free by Derrick Foster. Yeah. And then the next one to read would be Lee lol. I think it's get rich with options or something like that. And you read the two chapters on naked puts and covered calls and the other two strategies don't worry about really. And yeah. So I mean we use that strategy and I mean, I mean you asked me earlier how much I was up for the year and about twenty four percent or something.

George El-Masri [00:41:14] Twenty four percent. Yeah. Yeah. It's pretty good. How much of your time are you spending on on traits

Mark Loeffler [00:41:21] like 15 minutes a day,

George El-Masri [00:41:22] 15? Yeah, really.

Mark Loeffler [00:41:24] And actually it's one of the reasons I went back to a job is because I was finding myself spending too much time on it and making trades that probably weren't the best thing to do. Oh, yeah. Yeah. And golf season ended, so I was a little ahead.

George El-Masri [00:41:35] Right. Well, just to touch on that, I know last year I met you last year at Sandi's MRN opening grand opening. And at that time you said you were retired. Yeah. Obviously you're younger like 40 or something. Just turned forty one. Just turned forty one. Yeah. Well, happy belated. Thank you. You retired then and you were just playing a lot of golf. Yeah. What I remember when did you retire.

Mark Loeffler [00:41:58] So I kind of haven't sold real estate since. So it's been almost two years now.

George El-Masri [00:42:04] Two years that you haven't sold. How are you able to retire? Because you said I'm assuming that most of your wealth is in the apartment buildings that you own. Do you also own other real estate? You said you own a couple of duplexes in new market.

Mark Loeffler [00:42:17] I don't own the ones in new market anymore. Not anymore. Cornwall and Toronto. I own some I own some percentages of businesses as well that I've invested in over time. So that helps. At Keller Williams, they have this thing called profit share, which I make a fair bit of money from every year or two. So that helps. So, you know, I make a little bit here, there.

George El-Masri [00:42:37] And it's enough to cover your day to day expenses. Yeah. OK, so because you were saying that you don't use the cash flow from your buildings to fund your personal life, you just reinvest them into whatever units need to be renovated.

Mark Loeffler [00:42:49] What not. Yeah. And then if we have enough money, we'll just go buy another apartment building. Right. Right. OK, yeah. We've never taken a cash dividend from any of that stuff.

George El-Masri [00:42:58] So what kind of businesses do you invest in. There's one with meets natural.

Mark Loeffler [00:43:04] It's true. Local data. Yeah. So they're a great company that you can get all your organic farm raised meat delivered right to your door. So from the farm right to your door. So that's that's a good one. We like that one there.

George El-Masri [00:43:18] How did you come across that, by the way?

Mark Loeffler [00:43:20] So I was at a networking event in Montreal. So the theme here, right? Yeah. And it's funny, the guy who owns it and runs is named Mark LeFleur. OK, so he's he's the black French Mark Loeffler. And they switched our rooms at the hotel at this networking event. And they're like, no, you've already checked in. And I was like, no, obviously I haven't. And then I go WAPs. And so then I met him the next day and he's like, Yeah, that was pretty funny. And so I get talking to the guy and he's like, super smart guy and he's doing this and this and this. And I said basically I said to him, I said, listen, if you ever open your own business, call me first, I'll be your investor. And then he opened and he's like, OK, we're going to do proof of concept and this and that, and then we'll be ready for money. And then I was the first investor. I've been the second investor. I've been the third investor. And then I brought some people in to invest as well.

George El-Masri [00:44:17] Yeah, I think Quinten invest in it to right. To invest it was. Is there any other big companies that you've you've had success with when it comes to investing big companies.

Mark Loeffler [00:44:27] I mean, so not

George El-Masri [00:44:28] necessarily big but

Mark Loeffler [00:44:29] like so I invest in a restaurant. Karro OK, which is that main in Ottawa, which is in one of my apartment buildings, and they just want a civic award last night for entrepreneurship and Hamilton. Cool. Yeah.

George El-Masri [00:44:43] So I mean and I was growing that area definitely growing. Yeah. And in Hamilton obviously. Yeah.

Mark Loeffler [00:44:49] And if you're there, go there and go see Corey and the people there and have the Ohmar which is a nod to it used to be a barbecue chicken pizza place. Yeah. And the guy running it was named Omar. Oh OK. So they call it they have a barbecue chicken pizza named Omar but it's like the foods are excellent and the service and everything, so definitely dropped by there.

George El-Masri [00:45:10] How do you value some of these companies that you're investing in when they're just starting out?

Mark Loeffler [00:45:16] I mean, you just use whatever you invested, right? So if I invested fifty thousand dollars, I would just say it's fifty thousand dollars. And then as time goes on, you say, you know, true local goes and does a series A or anyone does a series A and there's a valuation. That's OK, great. I pay it to that.

George El-Masri [00:45:35] Yeah. But are you taking an equity stake. Yes, you are. That's what I mean. How do you know what percent of the company you're going to be taking is it's I guess a case by case color negotiation.

Mark Loeffler [00:45:46] How much money is needed, what's needed? Is my time needed. You know, I just passive what's what's the deal. Right.

George El-Masri [00:45:53] So and are you basing it based on their number of sales or whatever that the dollar amount that they're generating? Projections. Yeah, projections for the most part I guess. Yeah. Yeah.

Mark Loeffler [00:46:03] All right, cool. And then obviously on parts of two market centers, Keller Williams market centers are offices. So that helps to.

George El-Masri [00:46:10] Oh I don't know that. Yeah. Yeah. And profit sharing with Kelly Rowland, as you touched on it earlier. That's from what I remember basically. Lee, any agent that you brought on board in the past, you end up getting a portion of there.

Mark Loeffler [00:46:23] So basically what it is, is any agent that comes on and that says I was responsible for them joining me when they do a deal and that office is profitable, that office basically is saying thank you to Mark for helping us grow. And they're sharing some of the profit, so has nothing to do with the agent there. Splits there's. Oh, yeah. And yet if the office is profitable, they share some of that back with with us.

George El-Masri [00:46:49] It's all OK. Cool. All right. Well, we'll jump into the next section, which is called the Random Five. I'm just going to ask you five completely random questions.

Mark Loeffler [00:46:59] Are they random or do you ask everybody the same five questions?

George El-Masri [00:47:01] I don't. I switch it up, OK? Yeah, sometimes I prepare the questions today. I haven't prepared them. So I'm just going to think of something and ask you. I recall what was your your favorite cartoon as a child. I think I may have asked this one before, but check with you

Mark Loeffler [00:47:17] for G.I. Joe.

George El-Masri [00:47:18] G.I. Joe,

Mark Loeffler [00:47:19] you probably don't remember G.I. Joe.

George El-Masri [00:47:21] You know, I never really watched G.I. Joe, but I don't know. Was that from the eighties? Yeah. Yeah, that was big in the eighties. Oh, yeah. Yeah. Cool. And that was when you were in Leslieville.

Mark Loeffler [00:47:30] Oh yeah. Yeah. My parents still live in that house. Oh do this in nineteen seventy six.

George El-Masri [00:47:34] Yeah. Is it a big house.

Mark Loeffler [00:47:35] No it's like nine hundred square feet semi-detached on a 14 foot wide lot. 14 feet. Yeah. They're going to be selling it the next couple of weeks though.

George El-Masri [00:47:43] Are you going to represent them. Yeah. Yeah. You always see that people from Hamilton representing someone in Toronto.

Mark Loeffler [00:47:50] Whatever I have my buddy in Toronto is going to help me out like but I don't want them to spend the money.

George El-Masri [00:47:57] No, of course for them.

Mark Loeffler [00:47:58] Yeah, I know the neighborhoods, obviously.

George El-Masri [00:48:01] You know, definitely. I think just people will be a little bit like other agents be like, why is this guy I boatful.

Mark Loeffler [00:48:07] I might have my buddy list

George El-Masri [00:48:09] it with me. Oh yeah. Yeah. Cool. All right. Next question. So you said GI Joe was your favorite cartoon, OK, would you rather stay up late for a sports game or wake up early and have a workout?

Mark Loeffler [00:48:24] Wake up early.

George El-Masri [00:48:25] Really? Yeah. Do you normally stay up late?

Mark Loeffler [00:48:28] Yeah, I stay up late and wake up early. I was late though. I usually go to bed around midnight, wake up at five o'clock.

George El-Masri [00:48:34] Really. And you're able to function that way very well you feel.

Mark Loeffler [00:48:38] Yeah it's yeah. I get about once every two weeks where I got to go to bed at like eight or nine o'clock. Yeah. Other than that I'm pretty good.

George El-Masri [00:48:44] That's interesting. Some people, I think they're, their bodies require less sleep than others. So maybe you function well or optimal. Yeah. Yeah. OK, well kind of to play on that question a little bit, what do you think somebody used to do in order to live at their most optimal or perform at their most optimal capacity.

Mark Loeffler [00:49:05] It's funny. So Quint and I were talking about this yesterday because we met for lunch and as you know, Quentins hugely successful. Yeah, a super smart guy. And again, he was a schoolteacher and he's done all this right. So, I mean, like, it doesn't matter what you've done and I don't know if you've seen him lately

George El-Masri [00:49:23] or lost a lot of weight.

Mark Loeffler [00:49:24] He's lost a lot of weight. Right. He's running. So that's why he wanted to buy me lunch and pick my brain about running and triathlons and fitness. Yeah, I have a soft right. And I said to him, I said as well, like, how much more energy do you feel that you have now? So I think to live optimally, I think you got to like exercise on a regular basis. You got to eat decently. Like I'm not talking like you're eating celery at every meal yet you're eating 90 percent of your meals are proper, like good simple meals and not whatever. I mean, not sugar. Yeah. I mean ten percent. I mean like last Friday was my birthday, right. I had a cake four times in the day and other treats. I went out and had a lot of ribs and chicken wings and whatnot. Right. Yeah. Here's the thing. If I, if ninety percent of the time I eat well that other time doesn't matter. So I don't have cheat days. I don't have this, I don't have that yet. I try to eat well 90 percent of the time. I don't think if you can do eat well 90 percent of the time and have some sort of exercise where either you're walking an hour a day or doing something an hour a day, then I think you'll find that you have the energy and be able to move forward.

George El-Masri [00:50:33] So. Right. So optimal life, diet, exercise and maybe also what about how do you feel about your general optimism and mindset?

Mark Loeffler [00:50:43] I would say I'm pretty good. I'm pretty optimistic. I kind of just don't let stuff bother me. Yeah. It just kind of rolls off my back. It's like,

George El-Masri [00:50:52] wow, stress.

Mark Loeffler [00:50:53] Well, what's the point of stressing over stuff like if it's a money issue? Well, there's things you can do to fix that. Like, I mean, I don't know my buddy Omar or Omar says all the time, I like options. Trading should be illegal. And I said, why? Well, because we shouldn't be able to make this much money while people are working making one hundred dollars a day. Yeah. And I say to my well. They have they have the choice to they can go in out and learn about money, the same I did. I read Rich, that poor, poor adult Ruth. I read write like last night I was reading What's Up? Book, The New Case for Gold by James Rickard. Right. And it's just little things. And it's just because I want to understand how money works. You know, all it is is money, stress. Learn how money works. Yeah. Go go seek out Dave Ramsey. You know, I think he goes a little bit over the top on some of the no debt stuff because I believe that's good in some ways. Yet in some ways he's really right on right. If it's a health thing, go get a coach. Go talk to, like, go to your local running room and start running or walking. You know, there's walking groups all over the place, like it's you know, if it's a nutrition thing again, go on YouTube and look up something like obese to be or something like that and or people who are talking about nutrition on that. Right. There's so many resources out there now that for anything that you're looking for, you can find.

George El-Masri [00:52:20] Yeah, of course. Yeah. There's so much information out there. It's just like you said, people don't take action. Yeah.

Mark Loeffler [00:52:25] They don't go find it. Yeah. They want it to come to them. Yeah. And then it's our fault when they don't find it.

George El-Masri [00:52:31] Right. OK, next question. Would you prefer biking or running.

Mark Loeffler [00:52:36] Running.

George El-Masri [00:52:37] Running over. Biking a hundred percent. What about swimming. Running. That's your favorite thing to do.

Mark Loeffler [00:52:42] Running. Yeah. Yeah.

George El-Masri [00:52:43] Do you, do you have any ever any joint issues or anything like that pain.

Mark Loeffler [00:52:48] Not really. Not really. Yeah. I have bad ankles from like rugby way back when I've like turned them a lot so I probably get arthritis there. So sometimes I feel it there. But other than that I really

George El-Masri [00:53:01] do run on pavement

Mark Loeffler [00:53:03] pavement trails. I try to run on like if I'm running now because the trails are all either mucky or frozen still. Yeah, I run on the road, but I'll always try to find asphalt rather than concrete and I don't know, I run everywhere. Yeah.

George El-Masri [00:53:20] Running a little bit everywhere. OK, and the last question, if somebody said either you're going to you'll go bald or you'll never be able to grow a beard again. What would you take.

Mark Loeffler [00:53:31] No beard, no beard and keep your hair. Yeah. Yeah. The beards are like a really recent thing. Like, I just I was bored and I think before my second triathlon through the summer, even I was at the cottage a lot and I just grew this massive beard. Yeah. And then I asked my kids, should I get rid of the beard? They're like, no, maybe just make a little smaller and then that's fine. I said, OK,

George El-Masri [00:53:54] you listen to the kids now, how many triathlons did you do last year or how many events in

Mark Loeffler [00:54:00] general? In the last two years I've done four triathlons and I did. I mean, other than some small, like small triathlons, I'm talking like half or bigger and I've done that one Wilderness Traverse race.

George El-Masri [00:54:13] So, yeah, that's so cool. And I really liked the fact that Quinten asked you for lunch or to go out to lunch so he can pick your brain, even someone like him who's accomplished so much he's still able to let let his pride or not be too, to not have too much pride and ask you for advice. I think that's pretty impressive. Yeah. Do you do that today?

Mark Loeffler [00:54:37] All the time, yeah.

George El-Masri [00:54:38] What kind of people are you normally asking for advice.

Mark Loeffler [00:54:42] I don't know if it's advice so much as it's just wisdom. Right. It's just and it just comes from surrounding yourself with people who are taking action and doing things right. Yeah. Like I talked to I talked to a couple of people a couple times a week type thing. And it's always we're talking about something and who knows what it is. And I get advice from them. I give them advice and just share.

George El-Masri [00:55:05] Share. Yeah. Cool. Yeah. OK, so that's pretty much it. Before we finish things off, is there maybe a message that you want to share? And also do you want to talk about how you might be able to help people and how they can possibly reach you?

Mark Loeffler [00:55:19] So message I'd like to share. I mean, at the end of the day, just go take action. It's nobody's fault but your own. So just get out there and, you know, find the information and just go and do it like there's no there's no secret sauce. If you want to reach me, you can probably find me on Instagram. Usually the easiest living the dream for me. OK, it's probably probably the easiest way to find me. Yeah.

George El-Masri [00:55:44] Living the dream for me on Instagram. Yeah. Yeah. And then just reach out to you there if they need anything. Yeah. Yeah. Cool. Are you offering any services of any sort. No, not really.

Mark Loeffler [00:55:55] No I don't really, I don't, I don't coach anybody. I don't really. I mean people who are in my office. Yeah. Like I'll coach and mentor them a consult. I call it consulting. Yeah. I consult them to help them grow their business. Yeah. And help them grow their wealth and that type of thing. That's all I'm doing right now. Right.

George El-Masri [00:56:11] Cool. So you didn't do this podcast to get anything in return. You just kind of did it to give. To share some of

Mark Loeffler [00:56:17] you to do it. Sure, yeah, that's true. I said yes, right? Yeah. You watch what's the movie? Yes, man.

George El-Masri [00:56:23] Yes, man with Jim Carrey. Got it. OK, cool. Well, thank you very much. I appreciate your time. And I look forward to staying in touch and see you again.

Mark Loeffler [00:56:30] All right. Sounds good. Thank you.

George El-Masri [00:56:32] Thanks for listening to this episode of the Law podcast. If you enjoy the show, then I'd really appreciate if you left us a review on iTunes and let us know your thoughts in order for us to get a larger audience. It's really important to have reviews. So your support is extremely appreciated. And also, don't forget to share the podcast with your friends and family. Until next time. I'm George Elmasry. Have a great day.

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