Wholesaling, Flipping, Investing in the GTA with Aaron Moore

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Podcast Transcription

Erwin Szeto [00:00:07] Hello, investors, and welcome to the truth about real estate investing show. My name is Erwin Szeto, bringing you the truth about real estate investing. And one of the truth are what a great time it is to be alive because it truly is. One of the secrets of happiness is to practice gratitude, which I do a couple times a week in my journal. One of the secrets of motivation is to have a purpose beyond just you, which is why I write my daily affirmations. I’ll share some of this in future episodes if you guys are interested. But I bring this up today because I received a rather nasty email from someone I know. He challenged the purpose of why I post what I do, saying that’s all for my self-affirmation, stating my humility is false and he’s actually making assumptions about me because this person doesn’t really know who I am as someone who’s done a lot of self-interest, introspection and study human psychology. I’ve learned a few things. Among them is that we are all human. We are flawed. There is no such thing as normal. I am no different. I knowingly admit I am crazy in many ways. Just this morning, I signed up for a martial arts tournament to fight other adult men. There’s no money in it. I actually paid money and another girl on the train for this. I have to make sacrifices and pay money to go fight other men. I am scared. I’m scared of losing. I’m scared of being embarrassed. I have been choked unconscious before in the competition in front of my teammates and coaches. I know I am crazy. I do chase excitement. I am not normal. Many things we do is about our nature. We, as humans enjoy challenges, were territorial. We have egos. We all seek approval and want to be loved. So no judgment here. If anyone wants to post publicly about their wins and successes, I personally welcome it by witnessing other’s successes and motivates me to be more successful with you. Your wins are my wins. If you remember the story about the four minute mile. That’s a running race to complete a mile or six hundred meters in under four minutes was first done by a runner. Roger Bannister in 1954. How long have humans been racing for? Keep in mind, the first Olympics was in the 600 B.C. Two months after Roger Bannister beat the record, he did again. He completed a mile under four minutes along with Australian John Landy, again two months after Roger Bannister first did it. Why? I believe John Landy knew what was possible. It was humanly possible to run a sub four mile. He believed in the self, and he made it reality. This is the same reason I continue to share my journey to financial freedom by forty five. My success was not overnight, nor without sacrifice. I do have more gray hair than my dad and the scars on my face from shingles exactly seven years ago due to stress. I want to be a living case study of what is possible and the rewards that come. So the listener or my friends or my clients not mutually exclusive, may believe in yourself and do the same for the same reason. I belong to a mastermind with Michelle. Go chase Susan White REIN car air more. Our guest this week Luke Y Rob, Tasha Monahan and Sarah Copeland. I love to hear about their successes because that motivates me, and I’m sure that does the same for them. They’re all successful people. They won’t be driving from all over to spend a day with us otherwise. If anyone’s interested, I’ll share more about what drives me in hopes that you may be more motivated to make 2019 your best. As quick side note. For example, my charity is almost like 90 percent funded by investors. So what I’ve learned is if everyone around me is successful, my charity grows. If I’m successful, my charity grows because right now I’m the third or fourth largest donor and my donations will increase as I become more successful. To answer my hater, I am not a piece of myself. At three a.m., my mind gets on a hamster wheel and I wake up in the middle of the night. How can I do more? Be more? That’s why I am and how I arrived, where I am today. And it’s going to take many places, including one of my goals, which is a multi-million dollar charitable foundation for my charity. The Hamilton Mask Brigade to share hundreds of families will receive the best Easter, Thanksgiving and Christmas ever for decades, long after I’m gone. If people want to hate me for chasing my goals thing, go ahead because a good life for my kids, grandkids and giving underprivileged families their best Christmas ever means a whole lot more to me than one person’s feelings. If you like to spend more time with fellow world changes, investors save the day. My networking meeting is Wednesday evening on January 23rd. We are still working on a venue because we need a bigger venue. And also I’m looking for something more central to the GTA but do get on the invite list w WW Dot Truth about real estate investing dossier slash meeting and register to get on the invite list. Our speakers include Charles White, Amy Tran, who will be sharing the How TOS on a small, informal real estate development they have going on right now. They are currently building two houses from scratch and each of those houses will become a duplex. This is an ideal starter development investment for folks who are interested in becoming developers because the land came included with the initial investment that already cash flows. So the land costs are recovered, thus reducing your risks. What’s my mastermind group will be a tenant as well. So in case you want to rub elbows with folks who have transacted on 70 properties personally or people who buy 12 to 24 properties a year, or someone who’s building a 30 store condo building, or someone who manages and owns over 200 apartment doors, and of course, this week’s guest, Aaron Moore. Again, that’s. UWW truth about real estate investing dossier slash meeting to get on this invite list. Americans call earn more, but Canadian investor as Aaron embodies the Canadian stereotypes as he both helps and invests. Aaron is the past winner of Rains Leslie Cuff Player of the Year award, and that’s the big award, the one that’s only given to one person each year. He’s won Renovate Writer of the Year many times as well. He left his job in the early 2000s to make investing a full time gig. So he’s been around. He’s seen many cycles, so these are the types of people I want to listen to for advice. He’s also one of the best I’ve seen at incorporating online pay traffic strategies and funneling to source off market properties. He’s been a big help to me, getting started as well. So without further ado, I give you Aaron Moore so Aaron, you go way back.

Aaron Moore [00:05:47] Hey Erwin. How are you doing? Great. It’s been a while. Yeah, yeah.

Erwin Szeto [00:05:52] One while I see you monthly. That’s right. So for folks who don’t know, Aaron was one part of my pro, the mastermind I belong to. You’ve been actually part of it longer than I have. But we knew each other even before that.

Aaron Moore [00:06:05] Yeah, through local real estate networks, we’ve been around for a while.

Erwin Szeto [00:06:08] What year did you join REIN?

Aaron Moore [00:06:11] That was 2009 for me.

Erwin Szeto [00:06:12] OK, so your tenure next year? Yeah, that’s right. So as usual, Aaron is unprepared. No fault of his own. He doesn’t have his questions in advance. So Aaron, what’s keeping you busy these days?

Aaron Moore [00:06:25] You know, it’s Real Estate stuff, of course. But I’m also a dad, so I’ve got a three year old and she definitely keeps me busy.

Erwin Szeto [00:06:34] Is she part of the reason why invest in Real Estate?

Aaron Moore [00:06:37] Well, I was doing it a long time before her, but I guess was that future mindset, certainly to have lots of time with my family, kids. And I’d say the year after she was born, I kind of relaxed a bit on business and Real Estate and really had a lot of time to spend with her before she got into her preschool. Or what do they call nowadays or daycare? So, yeah, I had, you know, definitely probably half a year. I was just relax with her and doing very small amounts of work, so I’m able to do that if I want to. Great.

Erwin Szeto [00:07:06] And how long were you investing before she was born?

Aaron Moore [00:07:08] I’ve been doing this full time since 2008. So many years. Many years.

Erwin Szeto [00:07:13] Actually, you know, I don’t even know the answer to this. What did you do before Real Estate?

Aaron Moore [00:07:18] I worked in the tech world, the corporate tech worked at IBM, they’re pretty big companies. So, you know, I do have some background in software and websites and all that sort of thing.

Erwin Szeto [00:07:29] Got it explains a lot because that’s been a very big part of your strategy.

Aaron Moore [00:07:32] It is. Yeah, it’s a big part of my marketing. The web, the web marketing. So it relates

Erwin Szeto [00:07:38] to what is Real Estate investment your lifestyle?

Aaron Moore [00:07:42] Well, it’s definitely giving me a lot of flexibility. You know, I still I like doing projects, growing a business. But, you know, I definitely have a lot of flexibility. I wake my daughter up every day, you know, mostly I’m there when she’s going to bed a lot of the time. Try picking her up from school every day, and then she makes me play with her for a couple of hours. So I’m able to do these kind of things. So but I’m sure she will want to do it for the rest of her life. So I’ve got a few years where she wants to spend time with me. And here I am.

Erwin Szeto [00:08:12] Very cool. Yeah. And what was lifelike when you’re in the corporate world?

Aaron Moore [00:08:15] You know, it was fresh out of university, you know, gung ho for a few years. You enjoy the challenge doing new things. But just after a few years, you know the interest wanes. I was I was kind of working to rule like, you know, I just there was a few years and I really, let’s say I did slightly over the minimum, but I just wasn’t interested in more. I was looking for a way out.

Erwin Szeto [00:08:37] So and then you come across Real Estate, I’m sure you were looking at many options.

Aaron Moore [00:08:42] Yeah, I was the I was exploring different things in my 20s. But you know, I read the rich dad, poor dad books and other books, and I just I knew people who had done some real estate. And then I think when I was mid-twenties. Me and my brother, we both bought a house, but I just moved my house mates with me. I bought a house, my housemates with me that I was living with at the time. So I became a landlord that way and my brother did the same thing. We did this Typekit within six months of each other. So and it turned out very well for us. That was the start.

Erwin Szeto [00:09:13] So your housemates were you guys all renting together and then you bought them, basically bought them a house and you had.

Aaron Moore [00:09:18] And then they rented from you?

Erwin Szeto [00:09:20] Yeah, that’s right. They don’t still run from you. Do they know this on the house?

Aaron Moore [00:09:26] I sold that one. I had it for six years, but I

Erwin Szeto [00:09:28] sold that one in order to pay for it.

Aaron Moore [00:09:31] Yeah, I think I do. I think I was 245 whereabouts. I was in the junction in Toronto like Dundas and Hyde Park area Peel, Hyde Park, Dundas right, right. Right behind Vesuvius Pizza for just over five. I think it was five twenty.

Erwin Szeto [00:09:50] OK, so I went over and doubled them. Yeah, sorry. You said you were down

Aaron Moore [00:09:54] to five twenty to forty five to five twenty is my memory. Maybe I remember those numbers because it was like the first one

Erwin Szeto [00:10:02] we think is worth the dead person is probably

Aaron Moore [00:10:05] this is the junction north of Hyde Park. But, you know, I haven’t checked. I’m sure it’s getting close to a million regrets. I regret tons of houses I sold or wholesale, but you know, you can only handle so much any given year.

Erwin Szeto [00:10:19] OK, so what’s wholesaling for those who don’t know? Yeah.

Aaron Moore [00:10:22] Well, it’s pretty basic. It’s a basic legal concept. You get a contract. It’s really just a signing, a contract, you get a contract. Usually it’s a good deal on a property deal that someone else like an investor would want. Maybe they want it as a rental property or a flat or something with potential a fix and flip. So I just signed the contract to someone else. They pay me a fee and they carry out the terms of the contract. So pretty much anyone who’s ever bought a piece of property before they could think to themselves get bought this piece of property closing as a couple of months where, you know, I don’t feel like closing on it. Maybe, maybe, maybe someone else wants to close on it. So I’ll ask around asking people, you find someone else who wants to close on it, they pay you. Let’s pretend it’s five grand, ten grand, whatever it is, and you sign the deal over to them.

Erwin Szeto [00:11:08] Now there’s many, many people in the wholesaling as a full time. They’re trying to make a full time gigabit versus you, or you just actually have your plate full.

Aaron Moore [00:11:18] And yeah, you know, I’m looking to ramp up the wholesaling side of my business as well right now. But, you know, the past few years, I have been maybe marketing a little bit less, doing a lot more rehabs and, you know, buying rentals, doing more fix and flips myself and just taking on marketing less, doing less deals. But now I’ve definitely spent some time ramping up the marketing. So I got, you know, I got more deals than I can handle a lot of the time. So, you know, there’s times I’m busy, I’m going on vacation, I’m wholesaling, but I’m just right now. I’m just looking to ramp up the wholesaling part of my business as well.

Erwin Szeto [00:11:52] And how long you been doing this wholesaling?

Aaron Moore [00:11:55] Yeah, I went full time 2008 doing this. ActionScript started. Got it. Oh yeah, it started well. You know, I had rental properties back in 2003, 2004. Just, you know, that was our first couple of properties, but that was very minor. But then it really got going. In 2008,

Erwin Szeto [00:12:12] 2003, certain investors came into first session. Yeah, definitely. You know, it’s funny because I still hear stories of people, people who are like who are like twenty three and waiting and stuff like that. I think the market has more to go down. I mean, and then for those who didn’t take action, you bought, you paid to forty five for a house. That’s where those million now. It wasn’t low enough for you.

Aaron Moore [00:12:37] I should have held on.

Erwin Szeto [00:12:40] Well, and actually, that’s very common because people become very common. Question is, when do I sell? Yeah. And I say the first thing I say again, without knowing people’s context, right? My first thing I say for Monopoly is one by holding properties. Yeah, definitely. Right. Of course you the trade. There are times you need to trade to me to be more strategic, to own your corner, to own your entire color so you can try to rent. But for the most part, is holding and making people pay rent. Yeah. I want my just to play monopoly. I’m sure you want your daughter, but not me too.

Aaron Moore [00:13:13] Definitely. Yeah, it’s a good game. I remember enjoying it as a kid, but you know, now business and in life does feel a bit like monopoly. It’s kind of fun. Business is fun for me.

Erwin Szeto [00:13:24] Awesome. So can you give our listeners some advice on how like your web strategies, for example, or any strategy you want to share about on how folks can find deals, for example?

Aaron Moore [00:13:36] Sure. Yeah, I’ve done a ton of different marketing methods. I’d say I started with the majority was like mailing fliers, letters, that sort of thing. That’s an easy way to get started. You can target specific neighborhood specific types, houses you want. Now I do a ton on the internet. I’ve, you know, my website has been around for a while. I think my website went up in 2010. I think Google likes it by now. Give me some respect. So I do well in the search engine optimization side. I come up naturally in the search engines and I, you know, I put some focus into that as well. I also do the pay per click. You know, people mostly know the Google ads, so I’ve been doing that for many years. I think Google likes me that site too, because it does well for me that this whole internet thing with the internet, you can kind of cast a wide net so I can advertise to big geographies pretty easily and quickly, you know, so I’m buying like, right now I’ve got properties, Mississauga, like, I’m talking some just some flips I got going on right now. Mississauga, Oshawa, Scarborough even got one up in Keswick, which is in my normal range, but I took it on.

Erwin Szeto [00:14:46] Sorry to Google that I don’t know.

Aaron Moore [00:14:47] Yeah, when I got when I got the phone call, I didn’t know where it was either. But it’s actually like it’s not far at all. It’s like half an hour up the 404. It’s at the end of the floor. We’re on the lake. Oh, yeah, it’s just it’s just north of Newmarket, so it’s not a big deal.

Erwin Szeto [00:15:02] So for people like Flip’s, for example, people just like people who don’t really have context to really think everything sounds sexy, wholesaling sounds sexy and really understand that the challenges like challenges and flips and. And one question that comes to mind is so you mentioned your properties in off between Austria and Mississauga, their opposite ends of town. You use the same rental crew or you got you and offices.

Aaron Moore [00:15:25] No, you. I’ve got crews in different cities. You know, I’ve done multiple projects with each contractor working on different ones. But yeah, they tend to stick to different areas. I got a guy know I just keep in Durham. Then I guy felt he does. You’ll certainly be my Peel York, New York work. And then I’ve got a lot of trades who will definitely roofers pavers. Those guys day jobs that are just day jobs, windows. They’ll travel all over the GTA for a decent job so I can send those guys all over.

Erwin Szeto [00:16:00] You spend any time in the schools yourself.

Aaron Moore [00:16:02] Really? No, not my skill. I’m useless at it. So it’s just a waste of everyone’s time.

Erwin Szeto [00:16:10] And whose general contracting are you hiring for that? Or is that you?

Aaron Moore [00:16:13] It’s usually someone else. There are some smaller projects I will generally contract. Yeah.

Erwin Szeto [00:16:18] And then does I know through conversations with you, like how many? So you get a hundred phone calls or 100 real internet inquiries? How many of them are actually worthy of following up? And then how many do you actually would want to convert?

Aaron Moore [00:16:35] You know, I think it’s roughly for me, it might be one in twenty five becomes a deal. Yeah, OK. You know, there’s definitely others have put offers on, you know, that are close to being a potential deal, you know, and there’s certainly a lot of sellers I give guidance to like, you know, I just give them the facts like, Listen, you’re better at this house. Your situation is better suited with a realtor. You just go that route. You know, some people I talk with, you know, they’re they bought in early 2017. You know, I just think of one example I’ve talked with recently about an early 2017. You know, the prices have fallen since then. They’ve got three mortgages on the property. So it’s really mortgage tie. The payments are ridiculous. You know, there’s sometimes there’s just nothing that can be done is you’ve got to give that one back to the lenders. You know, that’s a power of sale one. So it’s beyond, you know, there’s nothing I can think of to help out on that one.

Erwin Szeto [00:17:31] So you’re actually trying to help people.

Aaron Moore [00:17:33] Yeah, you try to give it. I try to give them some guidance. You know, if they’ve taken the time, I appreciate every phone call, every contact I get, you know, I try to give a little guidance on the phone, but I certainly, you know, I’m not going to look at every property or anything like that.

Erwin Szeto [00:17:44] Oh, it’s cool. I ask about how many, how many leads you need to actually do a deal because I’ve been novices. I get like three calls and I think I closed at least one of them. No way. Yeah.

Aaron Moore [00:17:57] And you know, a lot of people are just curious about the service. They want to know how it works. You know, people are just exploring options as well. So you’re going to get all kinds of calls and all different situations.

Erwin Szeto [00:18:06] And I know you in the past, you’ve done quite a few calls from an already listed properties.

Aaron Moore [00:18:10] Yeah. Well, yeah, it’s one of those. And there’s a lot right now the market’s slower. So people, things are listed, they’re not selling fast. One of the big things to figure out is drop your price, and a lot of people don’t want to hear that, but that’s one of the big. And, you know, I honestly, I think realtors should consult with me because I know realtors have tough times getting their sellers their listings to drop the price, but, you know, sometimes that’s the way to do it. A lot of the time I keep a hold in high prices for too long. I think there should be a consultant because after they call me and they do drop their prices, it’s like they need someone besides a realtor to sell them.

Erwin Szeto [00:18:42] And so it’s many times someone needs to hear something twice from different people before them. For example, a client of mine. And if he’s listening, yeah, I’m talking about you. He was you starting an Amazon business and he wants to do it on dossier. He wants to sell to Canadians and like, why would you do that? There’s the same effort to offer to the Americans for 10 times the market. This is it sounds good. So why wouldn’t you go after the 10 times bigger market versus Canadians to get on that letter? I don’t even have a good excuse, in my opinion. And then he hurt somebody else and so terrifying. I’ll go, Okay. Good idea. That just makes sense to me. Definitely same effort. 10 times the market size. Yeah, even if you do double the business, didn’t you just win?

Aaron Moore [00:19:28] But at least you took yours and someone else’s advice. So he finally went with it. That’s good.

Erwin Szeto [00:19:33] Chris, you know, I’m talking to you. What are some crazy offers people have had for you? People have offered you property like a seven digit range.

Aaron Moore [00:19:43] You know, I remember this was early when I first started to put an offer on a house in Forest Hill and, you know, it was sort of a

Erwin Szeto [00:19:52] seller’s going to need it. Well, you

Aaron Moore [00:19:55] know, I can’t remember the exact divorce and it was around the 2008 2009 time. So everyone, a lot of people are hurting at that time. That was the recession. You know, that was a higher end zone.

Erwin Szeto [00:20:10] Sorry, I don’t know. For folks who aren’t familiar, the GTA Ontario area that is one of the most prestigious street in our in Ontario and involved Canada, really,

Aaron Moore [00:20:23] you know, if I had the same deal today, I would have closed on it. For sure at the time was pretty big for me. Like this was 10 years ago, is big for big for me then. So, you know, I gave an offer, but it was pretty low, so I don’t know what they ended up doing with it.

Erwin Szeto [00:20:35] There were the price tag.

Aaron Moore [00:20:37] It was under two million. It was like, So now I’m sure it’s way more than that. Like it was still in the high. I think high ones is what they were looking for. And you know, wow, I want to see one point seven making what they were looking for.

Erwin Szeto [00:20:49] But anyhow, I know it’s not your market. Any policy?

Aaron Moore [00:20:53] Definitely over three, probably four.

Erwin Szeto [00:20:55] I don’t know. Who knows? Maybe Drake bought it.

Aaron Moore [00:21:00] Yeah, I should give you my assessment to look into some of these historical examples, sometime just for fun.

Erwin Szeto [00:21:06] I mean, yes, I don’t know. I’m crazy that way. So I’d want closure. And also, just selfishly, as you sense, it’s your labor that you’re paying for. Yeah, yeah. Well, it’s worth it.

Aaron Moore [00:21:17] Like there’s tons of just, you know, weird situations. There’s a lot of tough situations for sellers out there and just people in difficult life circumstances. So and houses can be a complete disaster. And you know, there’s people living in your house that you don’t want living there. You want to get them out. So there’s, you know, there’s so many different situations

Erwin Szeto [00:21:38] in the last situations are tenants or was like family.

Aaron Moore [00:21:41] I’m thinking of a couple when I think when I’m sick, I’m someone with a tenant and other with family like an inherited house. And I do remember them telling me, like, they’re like, We don’t care about the money. We just want the truth there. The house in control is like the brother who’s been living at the house for decades and you know, he was raising chickens and guinea pigs in the house, in the backyard, and there’s rats everywhere. The neighbors were so thankful that finally, the rats after we finished runners, rats were gone and there wasn’t rats in their yard all the time. And so this was actually, I think he might have had a license to raise these things in town. Yeah, it’s very strange.

Erwin Szeto [00:22:15] So a question that comes up often is what is the right price to pay for property? You have some guidance around that for me.

Aaron Moore [00:22:21] You know, like some people have these formulas like, say, 70 percent of our lives or after repair value minus repairs. But you know, I’m more of a spreadsheet guy. I punch my numbers in a spreadsheet. You know, there’s so many variables and like also, OK, if you’re buying to rent, you’re buying to fix and flip. It’s a totally different equation. And each person like, you know, you’ve got to have some sort of competitive edge if you’re especially if you’re flipping properties. You know, if you’re a realtor or like me again, have a realtor in the family, maybe you’ve got to be good with the trades. Maybe you manage the projects, you’ve got to have cheap money, you know, so you’ve got some sort of competitive advantage that plays into your numbers. You know, if you’re using the most expensive private money, you need to hire a realtor. You’ve got an expensive contractor, you know, good luck. You’re not going to make any money or your offers are going to be so low, you’re never going to get an offer accepted. So you need to have a competitive advantage to be able to do a fix and flip. So, you know, really, I’m pushed into my spreadsheet and, you know, if I think. I’m in a position where I can get bank financing or, you know, I’m sitting on a bunch of cash or my lines of credit. There’s a lot of availability. You know, my offers can be better if I’m if I’ve got a ton of deals I’m buying right now, then my offer is probably going to be a little bit lower than it was a few months ago. So it’s a bit of it’s situational. But for me, I’m really a spreadsheet guy and punched in my numbers into my spreadsheet and seen what I what I want to make and what I’m comfortable with

Erwin Szeto [00:23:48] for the novices benefit. You have quite a bit of experience, so you know what budgets will be for innovations because, yeah, renovation budgets never come in. Yeah.

Aaron Moore [00:23:59] And if I’m doing a big rayno like you see an older house, you know, new kitchens, new bathrooms or more, you know, I need substantial profit for that. Like, I’m not doing that for 10 or 20 thousand because ten or twenty thousand can disappear pretty quick on a REIN. So, you know, I might do 20k for some, like 10 year old house or something like some kind of kind of it barely needs any rentals. So, you know, there’s all you got to assess the project and the situation. And yeah,

Erwin Szeto [00:24:30] and for folks listening, if you haven’t done this before, it’s not nearly as easy as needs to. I understand and have been doing this full time for most of the decade.

Aaron Moore [00:24:39] So, yeah, I think about my first like major big REIN project. And it was it was scary back then. It was like it was a totally different mindset and, you know, it was totally different. Your first one, it was like, you know, we actually saved the kitchen, but it was a legal basement apartment. It was grandfathered, which made it easier, but being illegal. So the basement was a complete guide. And I think we were able to keep the kitchen cabinets in the kitchen upstairs. But I think a new bathroom, a new flooring because it was a stinky dog, cat house, hoarder kind of house and it was a detached house. So there’s also some landscaping exterior work. So it’s pretty cool.

Erwin Szeto [00:25:21] I think a big rental that’s pretty full blown. Yeah, yeah. And how was that experience like?

Aaron Moore [00:25:26] Well, you know, it was good, you know, had a good contract. He was a good guy, good contractor, who is fortunate. So, you know, I hired well, in hindsight, he gave me a really low price at the time, so I got a deal on the rentals. You know, he ended up doing multiple projects with me. So we got, I think, better prices on later projects. But, you know, we made a great profit on it. So that’s the end result and complaint. But, you know, it took a lot of work and it was much, much scarier back then.

Erwin Szeto [00:25:59] So like you said, like 10 20 grand and disappeared very quickly. Actually, no, an investor that didn’t did a flip with only a $30000 expectation for profit and it was joint ventures. It’s like 50 50. Yeah. And to just scale 30 grand was by 10 percent. Would you do that deal

Aaron Moore [00:26:19] if it was like a condo townhouse or something like that? Sure. But probably not a detached house, or probably no freehold house.

Erwin Szeto [00:26:27] Really, what I’m trying to get across to people is that you need to work in a lot buffer. What kind of range are you? Are you trading in now for property is what I want to get to is when people start looking at flips, for example, they’re often just focused on what’s cheap.

Aaron Moore [00:26:42] Yeah. You know, I bought a I think I’ve only gone as high as eight hundred, but you know, I bought a couple of just the past few months.

Erwin Szeto [00:26:49] Five hundreds. That’s like further east like Oshawa

Aaron Moore [00:26:52] that, you know, one was Mississauga. You know, like it’s only going to be worth like high 600s after rentals, but it needs a lot of rentals. It needs, you know, roof windows, furnace, AC driveway and kitchen bath, you

Erwin Szeto [00:27:06] know, the whole thing.

Aaron Moore [00:27:08] So there’s a lot of rentals. And but yeah, and further east, you know, Oshawa, you know, still buying stuff in the 300s, like just under 400 in Oshawa. Yeah.

Erwin Szeto [00:27:19] And then what percentage of the deals you’re doing? Do you think people can I defend financing on?

Aaron Moore [00:27:25] Oh, probably at least 50 percent. Yeah, yeah. Because, you know, if it has a kitchen, bathroom and flooring, you’re pretty good. Like, some of these houses are just old and dated, you know, covered in nicotine stains. And they might smell. But still, the banks. OK with that. Like this one in Mississauga? I just thought, you know, you got the kitchen. It has a kitchen, but it’s leaking, has been leaking for years. It’s just a disaster. So everything below is wet and brought it, so they probably wouldn’t finance that.

Erwin Szeto [00:27:57] And then how do you close the deal then?

Aaron Moore [00:28:00] I use a lot of private lenders on these properties, and nowadays I’ve got my own personal contacts to do private lending for me. So, you know, occasionally I’ll still use brokers, but typically it’s people I know and they just lend to me on projects and they’re usually short term, like under six months. So it’s a nice short term investment for people to earn a high return.

Erwin Szeto [00:28:21] Q. Are you able to share what you offer for private? Money.

Aaron Moore [00:28:24] Yeah, it’s usually a bit better than eight percent, I say, because it’s typically paid one percent upfront and then seven percent annualized.

Erwin Szeto [00:28:33] And if anyone’s interested, how can they reach you?

Aaron Moore [00:28:35] Probably my website, it’s got my contact form and phone number as well. Who can reach me? It’s house deals. Okay, that’s my site aimed for investors, whether people are looking for wholesale properties or to lend private money on some of my flips, if they can contact me through that website.

Erwin Szeto [00:28:51] And folks, if you’re listening, driving, running or whatever, I’ll have all the links for Aaron in the show notes for the truth about real estate investing. Thank you, Erwin. I don’t want people driving in like trying to write this down or asking Siri to make a note. Nothing like that. So keep your hands on the wheel. Aaron’s not going anywhere. It’s a tell. Not which is what I want to get across to folks is if you don’t have access to private money, don’t have deep pockets and all of these opportunities aren’t available to you. And that’s partly why that’s why sellers need to go to people like you who can close deals. Yes, versus almost every client that we work with is getting bank financing. But who doesn’t like to bank? Everyone wants

Aaron Moore [00:29:33] to. Of course we all want it, and if I can get it on a property, I want to get it. To buy some properties is just not the banks aren’t going to lend it because they’re a disaster. Sometimes a lot of sellers work with, well, not a lot, but some definitely want fast closings. I’m talking like a week or two. And good luck trying to get a bank to lend that fast.

Erwin Szeto [00:29:52] It’s not going to happen. And that’s the reason why. What’s the reason why they need to move that fast?

Aaron Moore [00:29:58] You know, so sometimes people just leaving the country, sometimes it’s often it’s the sheriff coming to lock them out and it’s a foreclosure situation. You know, sometimes people are just so overwhelmed, depressed, stressed out by the life situation they just want out of the house. The house is like crumbling around them. It’s a massive disaster. It’s not been maintained. They just want out and just get them out as fast as you can get them out.

Erwin Szeto [00:30:21] And then how’s that working with the lender in those cases where they’re focusing?

Aaron Moore [00:30:26] Well, you know, I’ve bought houses after people have been locked out.

Erwin Szeto [00:30:33] You know, that’s pretty far in the process. Yeah.

Aaron Moore [00:30:37] You know, I’ve done different things. I’ve, you know, I actually I remember when I saw it before they were like, they didn’t even tell me they don’t always tell you everything. And then two days later, they’re locked out. And you know, I have no access to it, which is fine. I’ve already seen it. I’m fine with everything. And then after I close on, I let them back in. You know, I’m thinking of this example I’m thinking of you know, even. Of course, they don’t have much money, so I got my moving try and help them with things to move their stuff out after I bought it to get access to the house. So, you know, there’s all kinds of things. And sometimes I also, you know, I do look at these situations and I try to try to help people and give them options. And I tried to do what’s best for them. You know, I give them, Listen, I’ll buy your house at this price. But hey, if you want to renovate it yourself, I can give you a loan. You can take your time. You can renovate. Sell on the market to a homeowner and keep more of your equity. So I’ve had people take my loan options sometimes. And one of those examples they told me a few days before they were about to get locked by the sheriff. We can process the loan to them, like this is the second mortgage that I’m giving them. So, you know, the lawyer can’t get everything done fast enough and get all the information on their leads and everything under title anyways. But they were out of the house a few days, but we got them back in a few days and gave them a loan to cover all the money going. And then they did, you know, they took their time? Well, a couple of months. I don’t want them taking too much time. Governments, they renovated it, made it nicer, sold it on the market with my lovely realtor wife, of course, because we give them a family bundle package for multiple products. And yeah, then like those people are really thankful as well. So we allowed them to keep a lot more equity in their pocket. We gave them multiple options and they were so thankful for that option

Erwin Szeto [00:32:23] to so Sandy other day. I predict it was one of the other day told you, the Canadian investor. This is what it’s like because investors often get a bad name and we were talking about this offline earlier. Yes, now I have a friend of mine who goes to events, not my events, but he goes to class and stopped going to events because he thinks, you know, 50 percent investors will step on his grandmother to make a dollar. Yeah, there’s this here. You’re trying to literally help people like you and you have them, but they’re on the ropes and you’re helping getting them off the ropes.

Aaron Moore [00:33:01] I try. I’ll admit, sometimes the most sensitive emotional guy to talk with these sellers I do like, I’m not going to call it crying, but I get teary eyed talking with the seller sometimes like sitting on their character at their kitchen table. And it’s tough out there sometimes.

Erwin Szeto [00:33:16] So it’s tough. Yeah, you know, if you’re willing to invest money in them as they’re usually. Often in these situations, because they’re not good with money, you’re going to invest. Yeah, well, yeah, I know

Aaron Moore [00:33:30] I’ll invest all of them to these people, but you know, of course, I need equity in the house. So I’m a business as well. But there’s equity in the house. You know, I’ll own here. That’s pretty much how it works.

Erwin Szeto [00:33:42] I put situations where the first were. OK, so like it says three mortgages. Yeah, say it’s like ninety five percent loan to value or whatever. You can’t. Yeah, it’s not something you have to get into.

Aaron Moore [00:33:53] OK, probably interest free mortgages. No, it’s like three private mortgages. But I have done deals where it’s probably 95 ish close to a hundred percent loan to value because, you know, years ago, I think it was before 2008, people could buy 100 percent mortgages. So I think they did it, the deal in 2011. So I did a deal where I took over their existing mortgage because they couldn’t sell it for the life of them. I did a couple, a couple of properties like this. They can sell it for the life of them on MLS with a realtor because with the realtor fee, the mortgage penalty, they’d be negative. So I took over the mortgage and I put in a rent to own tenant and you know, it would all work there well. So, you know, there are situations when I can work out something, even if they are close, like 90 to 100 percent loan to value. But if it is few and far between.

Erwin Szeto [00:34:47] Pretty cool. Yeah, I’m impressed because I know many people can’t do what you’re talking about with pulling multiple strategies. Yeah, because for example, how many people do you know can pull out of NATO or even the lower end zone is right? Yeah. And now the other one, the other question I have is because I want the best listeners to know how many of those deals that you’re doing are, you know, 10 or 20000 only because we get questions all the time for turnkey property. And you know, it’s I think it’s human to think it’s not normal for people to ask for the Moon, right? Yeah, I went to wholesale turnkey property. That means like five, 20 grand only.

Aaron Moore [00:35:31] Yeah, you know, like. So are you asking whether people can buy properties putting in five to 20 grand or

Erwin Szeto [00:35:38] how many deals do you do? So you do intend deal

Aaron Moore [00:35:42] where I make five.

Erwin Szeto [00:35:43] If I know that you only need to put in five to 20 grand.

Aaron Moore [00:35:46] Oh, for like a rental? Very few. But, you know, I had some, but it is very few and it’s probably more of a condo type property

Erwin Szeto [00:36:00] because that’s what people have expectations, what are looking for. Because again, like I said, you know, I we ask these questions of people, of investors, for example, want to work with us and they say, OK, I want multifamily. What kind of profile do you want? Then he actually says, like, I haven’t always talked to, you know, reach for the sky. And so I want all doctors and lawyers, Okay. Oh, you want an all doctrine lawyer, apartment building and Hamilton a home. Let’s go. Let’s go find the unicorn. All right. Yeah. And as we tend to think, Oh yeah, because like, you know, because no one’s going to pay you for that,

Aaron Moore [00:36:45] maybe there’s a student health with future doctors in that. I went to school in Hamilton, by the way. I went to McMaster and I spent some time in my student housing and Hamilton.

Erwin Szeto [00:36:58] Yes. Thought, Yeah, it’s not Henry Cavill. I know you’re there yet. But again, I don’t want people having the wrong impression of the style of mass that you do that, but that turnkey properties fall in your lap.

Aaron Moore [00:37:14] No, I am. Yeah. And like, I’ve got rentals and I can’t think of one that I bought without substantial rentals and probably I needed to do more of this. You know, we buy, you know, what do they call VRR or something? But we bought, you know, Reno and rent and refi. We did lots of I did lots of those. They’re harder to find close to me nowadays. Like it seems like I got to drive further and further to find those deals.

Erwin Szeto [00:37:41] But you know,

Aaron Moore [00:37:42] most of my rental properties were that

Erwin Szeto [00:37:44] strategy and its BFR or whatever it is. Yeah, it’s funny because even when I started investing with like no education, it just made sense. But by four textbooks is back in the day, things were cheap. You could buy for cash or just use the home like a real high end to the pay to do want to pay 100 percent of the property price with your hillock? Do your renovations again, finance with you on and then you get a mortgage or rent.

Aaron Moore [00:38:12] It is really huge. Yeah. Or if the property is decent, you just there’s some banks to give you a bank mortgage and then you just blended or top it up after rentals. So. It’s lots of ways to get her done, but it seems to be harder these days because the 2018 mortgage rules and house prices going up just get more difficult.

Erwin Szeto [00:38:34] You were just talking about like payment between three hundred grand for houses properties. Yeah, I mean, it’s actually hard to get that on a home loan. That much money? Oh yeah. So this is your third property. How much land you have left? Exactly. Awesome. Yeah. So it actually sounds like you earn all your money. Just this isn’t easy money.

Aaron Moore [00:39:00] I work a lot. I enjoy it too, you know? But yeah, there’s definitely a lot of projects and a lot of work involved for me in building a business, you know? Right?

Erwin Szeto [00:39:10] And again, I want people to understand that, but nothing is easy in this. I don’t see why. Nothing is easy because I think what we do is not really hard, right? It’s just what you put in the time you get the results.

Aaron Moore [00:39:23] It’s definitely the time and money are leveraged. There’s definitely a leverage there. And with Real Estate, so it’s worth quoting in the time.

Erwin Szeto [00:39:31] Yeah, because I was talking to you as interviewing Jane’s parents and people like you listen to that episode before this one, but just to share with you, I just think about how much time. So I actually know I think about your rentals, right? Because you, you keep some of them you bought, you hold some of your rent properties, rent them out if you don’t know how many hours you put in a week to own them. Hmm. To operate them and then think about how much wealth they create for you.

Aaron Moore [00:39:56] Yeah, yeah, it’s ridiculous. The wealth in the like, the wealth creation since 2014, how much properties have gone up? So anyone who’s owned since 2014, you count your blessings because it seems like house prices have gone up so much all around, all around the area.

Erwin Szeto [00:40:12] Now you and I worked two jobs before we were doing downstate. Think about how many hours we put in to earn our salaries. Yeah, compared to how many hours you put it to owning Real Estate and the returns. Right? Yeah.

Aaron Moore [00:40:29] It’s no comparison for me. There’s no going back.

Erwin Szeto [00:40:33] And just to be clear, for everyone that you’ve made a couple of million, right? Yeah, yeah, it’s

Aaron Moore [00:40:39] in the millions by now, over 10 years,

Erwin Szeto [00:40:41] certainly. It’s actually I see it a lot in social media advertising actually advertised tightrope about let’s call ourselves because I don’t have to anymore. So that’s the only advertising you see if you or your social media advertising. But people are talking about like building seven figure businesses. Right? And then, you know, almost everyone who ever justified the show has a seven figure real estate business. Yeah. And I mean, excluding your principal residence to everyone on the show, as has built a seven figure portfolio. Not that that’s not what the value of what they’ve owned the increase in net worth that they’ve gotten.

Aaron Moore [00:41:21] Yeah, yeah. Like I said, if you if you owned anything, you know, twenty fourteen before you, man, you did well

Erwin Szeto [00:41:29] If you just held that one house, yeah, another two years, probably you would have made your million. One hundred. That’s right. That’s crazy. Yeah, yeah. So, yeah, you know, it’s funny because like you said, you’ve been around a long time, which just that REIN. You see, Aaron and I were both per Real Estate investment. People spend $200 a month or post-tax to be there every month. And then you’re not even everyone in the room owns Real Estate. And then outside of that room, what percentage of people in Real Estate? Yeah. And again, it almost seems like madness to exchange your time for like 40, 50, 60, 80 grand a year when we’re putting in two or three hours a week to own.

Aaron Moore [00:42:15] If only I knew now would, if only I knew in my 20s what I know now, right? But here we are now. And it’s good.

Erwin Szeto [00:42:25] Did you get any lessons from your parents? Well, it’s

Aaron Moore [00:42:29] definitely not on investing, but they definitely taught me to live within my means. Maybe you put things in perspective. I really I basically bought my parents the first house, you know, maybe five years ago. So the big goal for me, anyways, so that was a big accomplishment.

Erwin Szeto [00:42:47] That’s pretty awesome. Yeah. Brendon Bouchard shared a he shared how the definition of success is when your performance can go fun and allow you to give back to your family as friends.

Aaron Moore [00:43:04] So it’s great. It’s doing great things for the family, like my, my brother, he’s, you know, and my father and I have some rental properties with me, my brother just flipping out on his own. Yeah. So the whole family is, you know, everything’s coming up thanks to Real Estate.

Erwin Szeto [00:43:18] So for listeners like, can I get this a little time for people who like you are like sixty five, seventy five, eighty five and they go, Oh, it’s too late for me. We’ll teach this to your kids. And the first question for those folks, we’re like in their forties who say, it’s really for me. I teach this to kids. If you’re if you’re raising, they’re more and they’ll buy you this podcast.

Aaron Moore [00:43:38] I must say I’m a pretty good retirement plan from my parents.

Erwin Szeto [00:43:44] And to me, that’s like living the dream is, yeah, when you can give back is definitely, yeah, but my own, my own family, like they did all the heavy lifting for me, right? And then especially there, the previous generation, they did all the heavy lifting to put my

Aaron Moore [00:44:02] parents in perspective like they did it to. Yeah, of course, they sacrificed for me to be, you know, they put tons into me, you know, they sacrificed for themselves. They live a very modest lives and sacrifice for us kids. And you know, I got to thank the government of Ontario and Canada like, you know, I went to university on government money too. They forgave me. My loans, maybe half my loans, I paid them. I was paying them back for, I don’t know, probably a decade, but you know, it was nobody. I could have paid them back earlier. But what’s the point is low interest money. I thought my parents did great. You know, they weren’t into financial stuff. It’s funny. I read some of these news articles about, you know, the poverty line and so many Canadians are living in poverty and you look at the income numbers. And when I look at the income numbers, you know, as an adult as am, I won’t be living in poverty some years. Growing up, I didn’t realize that just my family had, you know, fairly low income. But you know, we did OK because we kept expenses low and had low rent and yada. But you know it just for me, it puts this poverty line thing in perspective because you can do just fine living under the poverty line. You can’t live the expensive lifestyle.

Erwin Szeto [00:45:13] We kind of can now like, for example, I think my mom went on a cruise with us and my sister. Yeah, to give context to that, I started cruising is interior cabin so like the cheapest she visited there. But my mom challenged the balcony, so she gets the exact, not the exact opposite, but yeah, a balcony to cost considerably more than I had to go into. What was your parents’ reaction like when they got their house?

Aaron Moore [00:45:42] Well, I’ve been doing Real Estate for. They’re very thankful. They’re always very thankful, impressed, and I think the house is great. You know, they love it. And I actually like the first house I bought. So what? My dad’s been involved for me. You know, the first house I bought an injunction, I think, was whenever my mortgage was like about five percent down. Let’s say the mortgage was 230. I could only qualify at that time for, say, two 10. So I needed my dad to sign on, get me over like that extra 20 grand. So I gave him some. When I saw that, I gave him some, you know, a chunk of change. So, so he’s had some chunks of change over the years, you know, from Real Estate. So it’s definitely appreciated.

Erwin Szeto [00:46:20] Hmm. Interesting. So I think the lesson there is have kids having listened to this podcast and then retire on that.

Aaron Moore [00:46:29] I think that’s a great idea.

Erwin Szeto [00:46:31] Look, the self-promotion I’ve just been kind of since these other little near, you know,

Aaron Moore [00:46:40] they’re not close to me. No, I’m like, I’m in Toronto. Condos area their own. Joshua is not too far. You know, I get over there a couple of times a month.

Erwin Szeto [00:46:47] They are there all the time for business news.

Aaron Moore [00:46:49] Exactly. Yeah, I’ve got lots of rentals there. So I, you know, I got reasons to go.

Erwin Szeto [00:46:53] And then, what are you doing? What are you working on now? Because I know you’re you’ve been. Even building a more educational stuff as well. Yeah, well,

Aaron Moore [00:46:59] I definitely I this year I ramped up my internet presence more. Getting into social media, the social media is probably more aimed at what I’ve been doing so far is more aimed at the house sellers just getting some content out for house sellers, you know, more stuff for them to find and when they searched the internet and more resources for them to learn some making some more videos and putting it more content. But yeah, this year I’ve definitely got a focus on expanding my marketing. I’m looking to hire more looking, hire a salesperson just to help me handle all of the leads coming in like this. Sellers who are calling me go out, see more houses on my behalf. You know, for example, my assistants, while we’re on this call, my assistant is going out to the Szeto house while we’re on this call and take some pictures for me and then I’ll give them an offer. So looking to build the team so I can do more with bit less of my time,

Erwin Szeto [00:47:53] to be honest. It’s funny you say that because I know so many people who cannot buy a house without looking at it. Yeah, because actually

Aaron Moore [00:48:02] I actually talk a

Erwin Szeto [00:48:03] lot to people who like because if I was myself included, you need to get off the spreadsheet to go buy the house. Right here you are. And going to see the house, just jump in the spreadsheet and you plateaus, although

Aaron Moore [00:48:16] you know, I buy it with, I would see it. I buy with a home inspection condition. I’d go see it. Very. But yeah, I don’t need to see it before making an offer. I can have someone else do that right?

Erwin Szeto [00:48:28] Yes, it is a far for you.

Aaron Moore [00:48:31] It’s no, it’s Mississauga, it’s far enough for me, especially, you know, driving at four p.m., it’s not the drive I want to make.

Erwin Szeto [00:48:41] And I just listen to it. Very good.

Aaron Moore [00:48:44] She lives further west ideas as she gets closer, so it’s better for her.

Erwin Szeto [00:48:48] Excellent. Yeah. So you mentioned earlier they were part of the same mastermind. Can you share one of the benefits been to you be part of a small and trying to look for another word for mastermind? This mastermind seven people is this seven of us?

Aaron Moore [00:49:04] I think it’s an it’s a Szeto counts. You know, there’s definitely there’s an ongoing benefit to having experienced people who can you can ask answer questions, just share with what’s going on and any challenges. But further to that, there’s certain a certain something about challenging yourself, setting goals, telling your goals to other people. And you know, it’s like a challenge, a bit of competition, you know, even just seeing goals to the group makes you want to grow. And you know, it’s fairer to my butt to go do it, see? And it also gets me thinking more about bigger goals. It just it does help me think bigger. Think about, you know, more of what I can do, you know, probably because I’m thinking about hiring and expanding. That’s really something, you know, from the mastermind, the mastermind in coaching that I do like. You know that thinking, you know, I’d be quite fine and comfortable keeping a small business and, you know, just being self-employed with an assistant. But there’s so much opportunity out there. I know I can do so much more.

Erwin Szeto [00:50:08] So let’s do it. Efficient Hamilton. Yeah, that’s right. It’s a good place.

Aaron Moore [00:50:14] I haven’t started merging in Hamilton yet, but you never know. Maybe I’ll expand

Erwin Szeto [00:50:18] know if you ever want to chat about if you need. Yeah, if you need boots on ground and chat about that for sure, I know you don’t want touch this. No.

Aaron Moore [00:50:27] Yeah, but I know I’ve got the head for expanding right now, so we’ll see.

Erwin Szeto [00:50:33] I yeah, I have goals of expanding lots. I think you should extend to. All right.

Aaron Moore [00:50:38] Let’s do it.

Erwin Szeto [00:50:41] How long have you been part of the mastermind?

Aaron Moore [00:50:43] Oh, I’m thinking four or five years now. That’s off the top of my head. So it’s not accurate. But.

Erwin Szeto [00:50:50] And then what do you think is the reason why it’s healthy together? Because most don’t. You do not know life gets in the way someone drops off and then things fall apart.

Aaron Moore [00:51:00] Probably because we’re all, you know, fairly do a lot of action reaction takers. You know, some years we’ll do less than others like, you know, just the ebb and flow of our lives. But yeah, we’re all active learning from each other. So. Might as well in the relationships build, so I think we enjoy helping each other over time. I think part of the relationships keep it together. But if everyone’s benefit benefiting from it, then

Erwin Szeto [00:51:28] keep at it. And even the people who’ve left it are still chilling out there. Oh yeah.

Aaron Moore [00:51:34] Yeah, yeah. People who leave usually go on to, you know, to maybe more specialized group or more focus group or something, you know, more in line with their business or where they want to take their business down.

Erwin Szeto [00:51:48] And because our with our mastermind group, it’s we’re largely Real Estate focused and there are some branches away, like around marketing and around like, you know, short term rentals and stuff like

Aaron Moore [00:51:59] commercial real estate. I know one person left to focus on commercial real estate and commercial real estate mastermind So. Right.

Erwin Szeto [00:52:07] And then, for example, if someone wants to just go down the road of SEO and digital marketing, then we’re not really the credit for that. Yeah. Yeah.

Aaron Moore [00:52:17] So there’s so many places to learn from, but masterminds are a good one.

Erwin Szeto [00:52:21] What is it that you guys are looking for? What do you look for to accept to take on a new member? Because I know after every attack mastermind in the podcast Erwin, whenever I’m speaking about it and people were about to join Brian.

Aaron Moore [00:52:34] Okay, yeah. Last I checked, I think, for content in full. So I don’t think they are taking any one right now. It’s a group decision. So the last I heard, they’re falling at the limits. But I just see you can always apply. And when we are looking for someone, they’ll certainly take someone else on. But certainly a certain level of experience to someone active in real estate and fairly experience, that’s probably what we’re looking for now. And each person in the group might have a different answer of what they’d like that person to be like or what expertize they want that person to have. But I think we all have a vote.

Erwin Szeto [00:53:16] Yeah, because we were often looking for someone to fill a job for us. Yeah, right. And just to share for the listeners who are trying to form their own because I could just one should be part of one. We restructure ours with everyone gets 50 minutes to speak about what they’re up to, what they accomplish, what are they going to, what are they planning on doing and ask for help? And that’s how you do that. And we set aside basically almost a whole day we meet our intended three on a weekday. So I know they’ll be challenging for many of you but figure it out because I honestly don’t do this for you. I think we’ve done well because we found a good group. So I’ll give an example of Stefan Arnault shared on his podcast how he basically has to fly everywhere to meet people in the community where he lives is not strong enough. We all complain because we all usually meet in Brampton. You fight through traffic from the tram, from downtown Don Mills, and you know, we have people coming in from Berry, from TIGIT, from Cambridge and from wherever Sarah is from Coburg over. This is the because the value is there. Yeah, right. So when? So for anyone particular mastermind group, look for group that will give value. I just put together a bunch of your friends and you end up drinking and watching hockey, you know what I mean?

Aaron Moore [00:54:47] It can just start with probably even two three, but you know, you probably won’t grow at more than that, but just start with a few people and then, you know, seek more and

Erwin Szeto [00:54:55] just people are committed to themselves to getting better. And people who have value to give experiences. So I don’t think anyone would doubt Aaron’s ability to have knowledge. Thank you. Do you doubt it? Only on this podcast that we everyday have people that made billions of dollars to try to find someone on the street like that.

Aaron Moore [00:55:22] Yes, it’s a good place to be, I guess.

Erwin Szeto [00:55:24] All right. Aaron, run out of time. Thank you very much for doing this. Can you share how would you like to follow up with you?

Aaron Moore [00:55:31] Well, you can definitely contact me through my website. House Deals GTA Dossier. You know, if you want to learn more about people like to learn about the wholesaling flipping side of Real Estate. You can look at my other website GTA House buyers don’t see a there is Real Estate content on that as well, but it’s more aimed at the house sellers. But investors like to look at it just to get ideas.

Erwin Szeto [00:55:52] Aaron, any final thoughts for anyone who’s trying to get off the fence thinking about buying their first property or their homes property?

Aaron Moore [00:55:58] Well, it’s just, I guess if it’s either one of those, just think about your next property and talk with people. If you’re not sure how you’re going to buy your next property, then just talk with other, more experienced people, I guess. Yeah, definitely. You want more experienced people, someone who is maybe a bit ahead of you and just strategizing, how am I going to buy my next property? You don’t need to buy five in the next month. Just buy one.

Erwin Szeto [00:56:19] And just for anyone who’s having trouble getting credit, credit comes up on retiree that’s up

Aaron Moore [00:56:27] here in a conference, twenty eighteen, but it’s still there.

Erwin Szeto [00:56:31] And if you have credit, you are going to win in this market. Aaron, thank you again for doing this.

Aaron Moore [00:56:38] Thanks for having me. Erwin Appreciate it.

Erwin Szeto [00:56:46] Are your local to the Greater Toronto Hamilton area? Are you interested in becoming a real estate investor, earning extra income in your sleep without getting calls from tenants or unplugging toilets? Then please join us live and in person at the Halton Real Estate Investors Group meetings at the prestigious Sheridan College in Oakville, Ontario. Our meetings are catered to both seasoned and novice investors to share and educate the fundamentals and truth about real estate investing so you two can earn seven figure net worth like our clients and guests of the show, how great it would be to be financially free to take more time off your family, retire earlier and more comfortably, or to support your favorite charity. If this is of interest to you, then get on the invite list at WW W Dot Truth about real estate investing. Meeting the host of the meeting is yours truly Erwin Szeto? That’s me, a four time winner of the real estate agent of the Year to investors for the years 2015, 2016, 2017 and 2018. Results are not guaranteed by our investor clients who’ve been with us since 2012, earning over 400 percent returns on cash flowing investment property. So come check us out soon, as you can do to enter your fire code regulations. We can only have so many attendees and we have been waitlisted in the past, so don’t wait to register at WW W Dot Truth about real investing dossier slash meeting. Thank you for listening in, if you enjoyed this episode, please hit that subscribe button. Whatever after using or we can email you episodes of the podcast right to your inbox as soon as they become available each week, simply go to our website. The truth about Real Estate investing dossier again, this WW debate dark truth about real estate investing, dossier engineer name and email on the right. If you really enjoy the episode, please leave me a five star review and comment on iTunes. I read every comment, and I’m grateful for every five star review. Thank you again for listening. Now go forth. Be awesome. Take action. Never give up because I believe in you too next time. This is Erwin Szeto bringing you the truth about real estate investing.

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