Zero To A Hundred With Andrew Brennan

Zero To A Hundred With Andrew Brennan

by

Zero to a Hundred with Andrew Brennan transcription and audio link

CLICK HERE TO LISTEN TO PODCAST

Georges El Masri 

Welcome to the Well Off Podcast where the goal is to motivate, inspire and share success principles. This time I got to sit down with Andrew Brennan, who is a phenomenal investor. We discussed vendor take-back mortgages, some of his joint venture partnerships, and how he owns over 100 doors. For those of you that don't know a door is basically a unit. So if you want a four Plex, that's four doors, so he's got tons to offer, you're going to learn a lot. Listen in and let me know what you think. Feel free to comment. Let us know your thoughts on iTunes. And hopefully, we'll have a chance to improve as the show goes on. always interested in hearing what you have to say. Everyone George El Masri once again, and I'm here with Andrew Brennan. I'm in his place really nice home. And we're going to be discussing a couple of things about or relating to real estate investing. Andrews a very successful investor. I recently met him at Quintin D'Souza at the Durham Rei event. So, welcome to the show, Andrew, thank you. Great. So maybe you will just start off by talking a bit about where you came from. So I just found out that you're actually from Brampton, which is your neighbourhood very close to where I grew up, as well. And I understand that you started off, you graduated from Sheridan College. And then you ended up working with a company called NSP Canada from 2003 to 2009. Can you tell us a bit about what you were doing back then with the company?

 

Andrew Brennan 

Back then I was director of operations. So I was responsible for the distribution, purchasing customer service, a lot of the functions which actually had great transferable skills to what I do today, right.

 

Georges El Masri 

So you were working with motion and control products? Is that right?

 

Andrew Brennan 

They were bearings like areas. I mean, it was just to me, it was just a line item skew or whatever. Right. But I was responsible for non-sales and non-engineering stuff. Yeah.

 

Georges El Masri 

And how did you end up working with that company?

 

Andrew Brennan 

Geez, I don't remember. I guess as you progress along from company to company, I ended up getting a job there and got promoted a couple of times internally. Right.

 

Georges El Masri 

So you wouldn't say that that was your dream job. Would you?

 

Andrew Brennan 

No, I enjoyed it. But you enjoyed it. Yeah. Okay.

Click to subscribe to Welloff Podcast

Georges El Masri 

Well, that's good. So then going from there, to becoming an investor, did you kind of hop right out of that job into full time in real estate?

 

Andrew Brennan 

Yes, and no. And so what happened was in October of 2009, I was downsized, okay. At the time I was downsized, I actually did start doing a little bit of investing. I had six single-family homes. And I decided that I liked investing better than commuting back to the GTA. So I gave the investing thing a shot, and everything worked out.

 

Georges El Masri 

Okay. So you were using the income from your job to buy those six properties that you mentioned, were these homes that were out here and in this area?

 

Andrew Brennan 

They're all homes in Wasaga Beach, all in a single-family homes?

 

Georges El Masri 

And where they cash flowing at the time?

 

Andrew Brennan 

To be honest, I don't even think they were. I mean, I had a very good salary. Yeah. Now I know, I was just kind of speculating that the prices would go up. I still own them all. And they've doubled in price. So I guess it was okay. But today, I wouldn't buy those houses, knowing what I know. No. Right?

 

Georges El Masri 

And how did you have the courage for that first one, to actually dive into real estate investing?

 

Andrew Brennan 

The first one was actually when I moved to a second beach, I was moving into, like, I came here to be with my ex-wife. And the first rental was actually her home. So the agents that help us find our family home suggested that we keep her home as a rental, I kind of looked at the math of the concept and thought it was a fabulous idea. And that kind of led me to start buying as many as I could.

 

Georges El Masri 

Okay, so you move out here to be with the woman that you married, and then you end up kind of jumping into this without really planning on it. And you were still commuting back and forth. So you were living back over here and we'll say a beach and then commuting back to what was it Brampton at the time?

 

Andrew Brennan 

I was working in Mississauga. So that's what you're doing. Yep. Okay, great.

 

Georges El Masri 

And so after that, how did you start getting, Because you got to six? How did you start acquiring more of these properties?

 

Andrew Brennan 

Then, you know, once I lost my job, nobody really wants to give me a mortgage. So I switched to joint venture partnerships. Right away right after the sixth one. Yeah, in 2010. I think we closed on one in January. And I don't want to say we only bought three. But we bought three properties that year, and I didn't think was a very successful year. I was actually going to pack it in and go back to the I guess the real world and get a job. But I stuck with it. And I think the next year ended up doing 10 joint venture purchases and kind of took off from there.

 

Georges El Masri 

Wow. So were you surviving from the income that you were getting from these properties from the cash flow?

 

Andrew Brennan 

No, I mean, I had an executive job. So I got a bit of a, you know, compensation package that helps, for sure.

 

Georges El Masri 

So it sounds good. How did you even know about joint ventures at that time, because you were still pretty new to investing?

 

Andrew Brennan 

Well, at the end of 2010, I joined REIN so it would have been before that I had a couple while the first joint venture partner I had was my neighbour. So I guess somehow, and I don't remember how we came up with the concept, but somehow we realized that he liked real estate. But he was a police detective and with two young kids and didn't have the time, so he became the money partner. And we did a few transactions together. And then from there, which is kind of like the concept, one of my partners, It was actually my realtor who was going around looking at properties with me and came back to me and said, You know, I like what you're doing. Can I invest some money with you? And I'm like, sure. Right. And then things just kind of spread. Right. Right.

 

Georges El Masri 

So after you have a couple of successful transactions and deals, that money kind of started finding you or your partner started finding you.

 

Andrew Brennan 

Absolutely.

 

Georges El Masri 

Yeah, that's great. Okay, so maybe we'll jump into something a little bit different. I know that today, a lot of your deals are done through joint ventures. And you also focus on vendor take-back mortgages. How many properties do you have today? If you don't mind sharing?

 

Andrew Brennan 

Somewhere over 100? over 100? Yeah, some 100 and tenants or something like that?

 

Georges El Masri 

And are the majority of them with joint venture partners?

 

Andrew Brennan 

Yeah, so probably 80 or 85 of them something like that.

 

Georges El Masri 

Okay. And today, are you still financing your own deals as well?

 

Andrew Brennan 

You mean, invest my own money into them? Yeah, I can't really get any more mortgages. So I'm trying to be creative to try and add additional properties, but most of the time is with Joint Venture Partners.

 

Georges El Masri 

Right. And so part of that creativity is drying up of vendor take-back deals. Is that right?

 

Andrew Brennan 

 Yeah, I do, like doing vendor take backs. And we have purchased some that um, well, some of the best ones we've purchased, we were able to do and not need a joint venture partner and not need qualifying from a traditional bank as well.

 

Georges El Masri 

Great. And today, are you focusing on? I don't think you're doing any more single-family homes? are you focusing more on multi-unit properties?

 

Andrew Brennan 

We do buy single-family homes for conversion. But I usually say that we specialize in two to four-unit properties.

 

Georges El Masri 

Right? And are you looking at getting into possibly, maybe apartment buildings or larger commercial units?

 

Andrew Brennan 

Yeah, I mean, I have a 16 unit, mixed-use and 11 unit mixed-use. So and I have a couple of land development plays I'm trying to work on, right.

 

Georges El Masri 

A lot of the investors that I'm speaking to the ones that have been around for a long time, talk about the benefits of owning multi-units. So I know you've been doing this for a little while. Are you at some point? What does the future look like for you in your portfolio? Are you planning on getting rid of the smaller things and moving on to bigger projects?

 

Andrew Brennan 

I think I'll probably for sure. So the single-family homes we have, we have about maybe 10 of them in total? I'll probably sell them off. And I keep telling myself that I should get into bigger projects. And I probably will. But will I totally give up the two to four units? Probably not. Because I mean, it's kind of just cookie-cutter, it's so easy for me to do now is just do them all day long, right. But I'll probably still pull back a little bit from the smaller ones, and try and look at some bigger projects as well.

 

Georges El Masri 

How long do you plan on doing this?

 

Andrew Brennan 

That's a good question. I'm not sure. It can be a tough business. So some days, I might think you know what, I don't need to do this anymore. I'm gonna pack it in. And other days, I'm like, you know, I think I'll just go buy some property today.

 

Georges El Masri 

And why do you invest?

 

Andrew Brennan 

Well, I do actually enjoy it. For me, it's not just the financial reward or the ability to achieve financial success. You know, I've coaching clients, when I tell them, you know, nobody really wants to be a landlord, you do this because you want to pay for kids education, or, you know, it's your pension fund or something like that. But actually enjoy the day to day interaction of talking with my peers and my friends in about real estate and things like that. And it comes with some ups and downs, but I can't see myself doing anything else at the moment.

 

Georges El Masri 

Right? And where you're at right now, in your career, and in your life. Do you find joy and helping others learn how to invest in and just giving back to others?

 

Andrew Brennan 

Yeah, for sure. Yeah, you're doing this. I mean, that's why I do the podcast and the conversation we had before we started right for sure. You know, every once in a while, people asked me to speak and you met me at Quentins meeting. It takes me two hours to drive there. Yeah. And I could do other things with my time. But it's you know, I enjoyed meeting people, it's important to get back.

 

Georges El Masri 

And so now, what does a typical day look like for you? What are some of the things some of the tasks that you're accomplishing through a regular weekday,

 

Andrew Brennan 

Most of the time, I just kind of oversee problems, line up properties for purchase, interact with Joint Venture Partners raise money, trying to do some strategic planning for future tax purposes and stuff like that, right? Try not to do any of the days to day stuff that will bog you down or, I guess, kill your momentum, like, you know, dealing with tenant issues and stuff like that and doing repairs.

 

Georges El Masri 

Yeah. Do you have any suggestions for people that are looking for a joint venture partner, maybe they have the knowledge to invest but they just haven't found someone that is willing to commit to working with them?

 

Andrew Brennan 

Well, It's a bit of a question because I mean, everybody's looking for joint venture partners for different reasons. So if you were, say, the person that had the money, then you're looking for someone that's qualified and trustworthy and things like that, and maybe has transferable skills from one thing to the other. Most people are probably looking for a money partner, right? So they would be the person that would be needing to say, Polish their appearance and skills. So things like a good presence, right? Some people do podcasts or they run a website for investors, other people try and write articles. I know some people do wine and cheese, right? So really, what you need to do is you need to kind of probably the best thing to do is actually look at yourself and think, okay, if I had a bunch of money, am I the type of person that I would give this money to? Okay? And if Be honest with yourself, you might say, Okay, well, I'm inexperienced, but how do I overcome that? Okay, well, maybe I can join an investment club, maybe I can, you know, go take some seminars, things like that. Maybe you don't look professional enough, right. Unfortunately, people make their first appearances. Sorry, impressions of first appearances, which not always correct. But maybe you need to, actually, Russell Wescott used to say, be it until you become it. So act like you're a real estate investor, a successful real estate investor until you become it. Right. It's the way it's your mentality and the way you carry yourself often, too, for sure.

 

Georges El Masri 

How important are relationships to you, not just in your business, but just all around in terms of where you are today? How did relationships play a big part in getting you there?

 

Andrew Brennan 

Oh, for sure. You know, many people have heard the saying your network is your net worth. Okay. So it's all based on relationships. So, you know, properties come to me because I have a relationship or based on past dealings with a particular agent, I have a relationship with, you know, people say contractors that give me say, preferential treatment, other successful investors may answer the phone because I have a relationship with them, right. And you have to build that over time, you have to put as much effort into getting as much effort into going back and forth to build a relationship, the benefit of both parties, right. But the best way to do it is actually to be successful is actually to have great relationships, right? And it takes work, but it's worth it.

 

Georges El Masri 

So it sounds like you're looking for Win-Win situations. And you're also trying to benefit the person that you're working with?

 

Andrew Brennan 

For sure. I mean, when I deal with my joint venture partners, the number one thing is to keep them happy. Okay, if they're happy, they're more likely to repeat. If they're happy, they're more likely to tell somebody else. Okay? And it's never about the actual transaction we're doing. It's about what's best for the relationship going down the road.

 

Georges El Masri 

And what do you do to nurture those existing relationships?

 

Andrew Brennan 

The best thing is just to be honest, right? whether it's good or bad news, be honest, be friendly, be available, right? personalities are going to clash doesn't mean that you can't have a joint venture partner that you sometimes clash with, but you might be reluctant to take them on, you know, a joint venture partnership is you look for the same mutual respect and understanding that you would look for in a friendship or in a marriage, right, you got to be able to get along with each other and work through things in a reasonable fashion.

 

Georges El Masri 

Right. Sounds like you're saying it has to be an organic relationship rather than something that's forced.

 

Andrew Brennan 

It helps to be organic, right? I mean, you can still force a relationship like the perfect sample is I don't put a shotgun clause into my JV agreements, because it can make a hopefully a good relationship go bad and someone is offended or feel like they've been trying to take advantage of, I'd rather work something out. If we're going to expose a dispose of a property, right, then just a force or you know, hard sale. Right?

 

Georges El Masri 

Can you describe what the shotgun clause is?

 

Andrew Brennan 

A shotgun clause is usually is a clause where one party can make an offer to the other party for, say, a financial purchase price. And that party that is being given the offer, you can either accept it or has 30 days to buy that person out at the same price. Got it? Right. And my concern is, so if I knew, let's say, if I'm maybe the person that's qualified for a property, and I know my partner is capped out and can't get any more mortgages, I'm gonna lowball an offer. Mm-hmm. Well, they know that you're taking advantage of their situation, for sure. Right? Or vice versa. I know my money partner had some issues. Maybe they're going through a divorce and they need to sell. I'm gonna lowball them an offer. I don't like to do those types of Right.

 

Georges El Masri 

Yeah. Well, that's definitely not good for the long term. No, it's not. Yeah, it might benefit you in the short run, but it's not the right way to build relationships. So your website talks about the importance of building a great team, and you've kind of touched on that already with the contractors. How did you go about building your team?

 

Andrew Brennan 

A lot of times its referral based. So you know, the best best way to get a new person to your team is someone that you know and trust, recommend someone they're happy with. Right? And you know, we ended up once we have somebody in place, we respect them. And we try not to necessarily, you know, undercut them or anything like that, because, you know, we don't want to insult them. But once we are willing to have the right person, we will do what we can to make sure that even you know, not just the Joint Venture Partners, but even with the contractors as women, right. So sometimes you need to be flexible or things like that. But yeah.

 

Georges El Masri 

It sounds like you're definitely flexible on sounds like just from a quick conversation that you're always looking out for the best interest of everyone involved.

 

Andrew Brennan 

For sure. I mean, you know, I'm not here in business to screw everybody over to get everything I want. Because I learned that if you help others get what they need, you will get what you want.

 

Georges El Masri 

Hmm. Have you ever had a situation where maybe you weren't thinking this way? And you looked out for your best interest? And it ended up hurting you in the long run?

 

Andrew Brennan 

No, I don't think so. Yeah.

 

Georges El Masri 

Okay. That's good. That's definitely a good thing. All right. Another thing that I noticed on your website, you talk about the importance of continuing education. What do you do today, although you've got tons of knowledge, I've heard you speak and you definitely know your stuff. But what do you do to continuously educate yourself?

 

Andrew Brennan 

 Actually, right now, I'd say I'm at a low point with education. I used to be in a mastermind group. And I pulled out of that because I wanted to find a more advanced group. And I haven't done a very good job of finding that. So when I became a real estate investor, I had to cash in my previous friends, because I needed friends that were successful, or at least right-minded into real estate investing. So I think now I had a conversation actually, a couple of weeks ago with a friend of mine, you know, talk about stuff all the time strategic, he's an investor as well, I think I need to maybe cash in some more friends to find some higher potential friends, right or higher network. So I need to, and I've been thinking about starting to talk to other people that can teach me to say development, land assembly, things like that. So it doesn't have to necessarily be an official course. Although I do recommend them when you're starting out, like, you know, Rockstar Realty or REIN, or even attend Quentin's meetings all the time. But you need to do something, right. And it is challenging, as you get more say, successful or educated to find continuing education. So right now, I'm at a bit of a low actually.

 

Georges El Masri 

So it sounds like part of your continuing education is surrounding yourself with the right people?

 

Andrew Brennan 

That's the most important thing, the most important thing.

 

Georges El Masri 

At some point, did you feel like you were just surrounded by the wrong people, and they were holding you back rather than supporting you and helping you grow?

 

Andrew Brennan 

I think when people reflect on their relationships with people, they would probably realize that there are at least some people that would be negative minded, not positive and supportive. And those are the ones that you may want to say cut loose for lack of better wording. That doesn't mean you can't get together with him once in a blue moon and reminisce about the old times. But you know, I tell people all the time, you want to be an athlete, hang out with athletes, you want to be an alcoholic, hang out the bar, you want to be a real estate investor hang out with real estate investors.

 

Georges El Masri 

How were you able to identify that some of these relationships were toxic to you?

 

Andrew Brennan 

Sometimes you just realize you look at the individual. Okay, what does that person actually accomplished in their life? What have they done lately? And it's not always about achieving something because maybe they have great emotional support. And that's okay, maybe they're happy where they are, but that's okay. But, you know, often people say to talk about others, instead of talking about what they may want to do or talk about positive things, right? People might be unhappy in their day to day activities, but they still refuse to change. So how, how, without forcing who can't change their own situation, they're unhappy with being supportive view changing. There's, you know, misery loves company. Right. Right. Right, for sure. Okay.

 

Georges El Masri 

And so if we want to switch things up a little bit today, what are sorry, right, and how not today. What investment strategies are you specializing in at the moment?

 

Andrew Brennan 

We do the two strategies, the VTB strategy, the vendor take-back strategy and the fixed and refi strategy. And that's usually all we do. We hardly ever do the standard 20% down and keep 20% right. Okay.

 

Georges El Masri 

So you're doing buy fix refinance, and then you're doing the VTV Are you mixing the two at times as well?

 

Andrew Brennan 

Occasionally, you know, most of our fixing refunds right now are actually conversion projects. So buying single-family homes, it's challenging to get a VTB on a single-family home when you're buying it from say the owner-occupied person, right. We have done some fixing reifies on the vt B's with projects like the two to four-unit, we might buy, say a triplex fix it up a little bit and pull money back out like we did one in Collingwood. We did that and the place was kind of leaning over. So we had to pay cash for it. And within a couple of months, we pulled back all our money plus some right so no VTB on that one actually, but we Done that I did another triplex and Barry that had a VTB. Right. He gave me 15%. Within, you know, a few, I think within the year, we pulled all the all our money back, right?

 

Georges El Masri 

Are you investing kind of all over the GTA or all over Ontario? Or do you have a specific market that you're targeting?

 

Andrew Brennan 

I do mostly Simcoe County. And actually, I'm pretty much narrowed down right now to just Midland. In just north of Barrie. We did a couple, we did a five and a six Plex, in a really last year, I think. But other than that, it's pretty much all Midland.

 

Georges El Masri 

Okay, so for a guy who grew up in Brampton lives and was saying, ovitch, how did you end up all the way out there?

 

Andrew Brennan 

Good rental yield. Okay, those you don't have to invest close, I just have so happened, I'm only 30 minutes away. But what happened was, I started in Barry investing, and we were buying smaller units in Barry. And probably four or five years ago, I thought Barry was getting kind of expensive. And realize that while when you look an elevated view of Barry, and so one side is landlocked by the water to go south towards you know, the GTA is not going to get any cheaper. You can go west towards Wasaga Beach, you can go Northwest towards Midland, and you can go north to Orillia, it's pretty simple. where to go next. So when the wave happens when it gets too expensive, the waves go in that direction. So I got out in those areas.

 

Georges El Masri 

Yeah, seems kind of odd to me. When you look at Barry, and you look at the average price there, you compare it to the average price in St. Catharines, and you draw a map and see how the distance to they're almost identical. If the price of homes in St. Catharines is way, way less, why do you think that Barry has increased so much in value?

 

Andrew Brennan 

I think it not just Barry. But a couple of towns around Barry, I think gets the additional population growth from retirees. Okay, so there are some projects going on that are geared towards a more condo living, you know, my friend and Realtor in Wasaga Beach tell me that half the clients that he sees in Mississauga beach come into the GTA, Barry also has improved the go train service. Most of the time, it's okay, going down, up and down the 400. And I think that it's still seen as somewhat close. I think most people see St. Catharines. mentally far from the GTA, right? Yeah, for sure. And the other thing to keep in mind for real estate investing, and I don't know exactly the amount of time but whenever someone says, you know, how long is your commute to? Or? or How is your commute to work? They never answer in kilometres, they always answer in time, right? So anytime, you know, you can reduce the time for a commute, you're gonna have price appreciation. So, you know, I'm not sure what it takes to get out of the GTA to get St. Catharines. But you know, you can get out of say, you know, Toronto 401 in the 400. You can get up to Barry fairly quickly, right in 40 minutes. Right. Right.

 

Georges El Masri 

Okay, so you're obviously a very successful real estate investor. Congratulations on all your success, by the way. And do you happen to invest in other things as well? Or is all your wealth in real estate?

 

Andrew Brennan 

It's all in real estate? All of it? Yeah.

 

Georges El Masri 

Are you considering maybe diversifying your portfolio? A little?

 

Andrew Brennan 

My investment portfolio? No, my mix of real estate investments perhaps.

 

Georges El Masri 

Okay. And why is that? Just I'm just curious.

 

Andrew Brennan 

Well, I think the best thing about real estate is I can control it. No, I can control other types of investments. But I'm passionate about it. I understand it, I can control it. And as far as I can tell, it's one of the best and most consistent forms of return you can get.

 

Georges El Masri 

Fair enough? That makes sense. All right. So aside from all the success that you've had, what have been some of the biggest challenges that you faced in your investment career?

 

Andrew Brennan 

Well, I guess one of the biggest challenges was attracting Joint Venture Partners. Okay. You know, I had to build a name for myself, my livelihood was, was relying on it, I didn't have an actual day job. Although my wife at the time, she had a, you know, she had a salary that wasn't fantastic, but it was fine. But you know, five kids and all the expenses, so I had to be successful. So I always consider myself not a good salesperson. So it was new for me and challenging for me to build a network of joint venture partners.

 

Georges El Masri 

How were you able to survive from the income that you're getting from these deals? If you're the brute that you're going down? It's a long term play. So you're acquiring a portfolio, you're earning appreciation and equity. But how are you actually living from that, aren't you if you're cash flowing? Aren't you typically putting that money aside for repairs or vacancies and things of that sort?

 

Andrew Brennan 

Well, whenever I do my figures, cash flow is determined after allowances for the vacancy, repairs and maintenance, things like that. Right. And, you know, although my first couple of properties when I actually had a job, I wasn't too worried if the cash flowed or not. Today, I would never buy anything. If it didn't Cash Flow, right? You can only buy so many, you know, negative cash flow properties before, you know, eat you alive, I guess for lack of better wording. Right?

 

Georges El Masri 

So basically, what you're saying is that you were actually surviving from the cash flow or was there is another stream of income that was coming from the real estate. When I was early in the business, there were a couple of things. So you know, I had some savings, my wife at the time, she had a job, or as well, she had her own business, small business. And then there's a little bit of cash flow. And then you know, it's in sometimes it's just, I've sold very few properties, but we refinance several times, some of them, right. So sometimes we will get equity growth. And so if we were doing fixing reifies, and things like that, then you know, equity would be available, right? Sure. You know, you'd be surprised even on  10 or 15 properties in, you know, a well-established market, you can refinance them save, you know, two or three a year on an on a regular ongoing basis. And, and have a, an okay, income for sure.  Yeah, that that makes sense. When once you get to 100 properties, you're probably refinancing a portion of your portfolio every maybe a couple of months even.

 

Andrew Brennan 

Well, yeah. So well, perfect example. So if you include the mortgage pay down, that is my share, and then the JV partner share that mortgage paydown is probably $50,000 a month. Right? So you know, every month, we could know, assuming everything was 5050 ownership, every month, I could refinance one property and get $25,000. Right, right. Every month. Yeah.

 

Georges El Masri 

So get Once you're at that point, your smooth sailing, yeah, that's it.

 

Andrew Brennan 

And again, none of them are negative cash flow. Right. So it's actually cash flow. I mean, I know we, you know, obviously, I've expenses, pay for vehicles, my assistant, things like that. But, you know, I mean, you got enough of those small producing assets, then everything will be okay.

 

Georges El Masri 

Are you increasing the rents on these properties every year?  Yes. Yeah. Yeah. So you have a system in place for that?

 

Andrew Brennan 

Well, the property management company does most of our stuff. But yeah, I highly recommend you raise the rents every year, you know, I've bought properties from people who kicked themselves because he's raised the rents for years when I tell him, this is all I can pay because this is all your rent is, right. And it's not so much, you know if you're in say, six units under cap rates may not come into effect. But if you understand the concept of a cap rate, and how a $1 increase in rent can really increase the value of the building or a $1, decrease in expenses, you're doing yourself a disservice by not increasing your rents, because you're just gonna drag down the value of your building.

 

Georges El Masri 

Definitely. So you talked about your five kids are your kids into real estate investing as well?

 

Andrew Brennan 

None of them are into yet my daughter is 18. She's signed up for a Realtor life course. So she's trying to go through that, but none of them none of the other ones yet.

 

Georges El Masri 

It's getting harder and harder. Do you hope? Do you the realtor course? I mean, do you hope that your kids will get into real estate investing?

 

Andrew Brennan 

Oh, for sure. I've always said to them, be whatever you want to be, but be a real estate investor. So you can be whatever you want to be. So if you want to be in a position that or career, that traditionally lower pain, but it's something you love, then do some real estate investing. So you can continue to do that without the stress that most people have day to day with money management.

 

Georges El Masri 

And do you think that anyone can be a real estate investor? Does it take a specific quality or a specific type of person? I think most people can be, you know, unfortunately, it takes a commitment that sometimes people don't want to give, right? It's not rocket science. It's there are no hard math equations. of there's really no secret, but lots of people have done it, they can show you how they've done it. You don't have to reinvent the wheel. So there's really no reason why someone can't do it.  And now that you have a big portfolio, did you find that it was difficult to get to where you are today? Or after a certain point? Did it just kind of become easy for you?

 

Andrew Brennan 

Oh, it says at a certain point becomes easy. You know, I spend zero dollars on marketing and really never have, you know, I really don't have to run around and ask people if they want to invest in a property, it's usually just, you know, pick which one of the investors I think might be wanting to do one now or might be suited for this particular property. You know, and once you get good at something and you get somewhat known, then it becomes a lot easier to do.

 

Georges El Masri 

For sure. All right, was there anything you want to add? Maybe do you have any advice for anyone whether you're a beginner-intermediate investor?

 

Andrew Brennan 

Well, I would say that you know, too many people in this market now are run around chasing stuff that's not cashflow positive, so never buy anything that's cashflow negative, it's never too late or too early to buy real estate. Right? You can't time the market. So if you think the markets gonna crash and you wait and wait and wait, you might be surprised and find yourself looking on the outside in and disappointed in yourself. So you know, take action, but make sure you're educated. For sure at least surround yourself with somebody that is educated.

 

Georges El Masri 

So how do you know that you've got a huge portfolio? How do you leverage your time and make sure that you're not spending too much time on something that's not the highest and best use?

 

Andrew Brennan 

It was a good question. Sometimes you spend stuff, time on stuff, that's not a good use of time, just because it's annoying and you want to correct it or something like that. I got a friend of mine and co-author of my book, Jeff Woods, he's fantastic. He, he does three things. All those three things are related to either raising money and building the portfolio. Anything else? He gives us somebody else? Right, right. So that's you need to delegate it to somebody else, right. And you know, you need to focus on the things that only you can do. So most likely, someone's not going to raise joint venture money for you. Most likely someone's not going to find your properties, although you can use a wholesaler, but someone else will pay your bills and do your bookkeeping and cut your grass. Right. And they'll be surprised how little they'll do it for compared to, you know, how much you can make by actually owning the property?

 

Georges El Masri 

For sure. For sure. All right, and who are some of the people that you admire the most?

 

Andrew Brennan 

Definitely Quintin? You know, he's, he's a great educator. You know, he gives a lot to the group that he runs. I know it's not easy. And there's like, people that I don't know so well. I just no one talking to his caves, like Don Campbell was a fantastic lot of people like Don Campbell. One of the people I really recommend everybody read is Robert Kiyosaki. I tell everybody, anybody, that listen by his book, Rich Dad, Poor Dad, it'll change your mindset. I haven't told anybody since yesterday. Right? So I always pretty much written or so I read every book that he's written. And then you know, I mean, not everybody has to be someone admired has to be a real estate investor. Right. So there are other people's, but

 

Georges El Masri 

I'd have to say that probably 70% of the people that I've interviewed have said, to have encouraged people to go out and read Rich Dad, Poor Dad. It's amazing. I've never read it, too. I've read so many books. I've never read that. It's on my phone that I got it on Audible. It's the next book. I'm going to.

 

Andrew Brennan 

I tell people all the time, there's only one book better than mine. And that's Rich Dad, Poor Dad. Mines number two.

 

Georges El Masri 

Yeah, that's a really good book. Actually, the one you wrote Quinten. Really good. Thank you. Yep. All right. So we'll get into the random five. I'm going to ask you five random questions, and then you just answer with whatever comes to mind first. The first one would be what's your favourite sports team or your favourite athlete?

 

Andrew Brennan 

Toronto Mapleleafs.

 

Georges El Masri 

All right. Okay, what's your favourite childhood memory?

 

Andrew Brennan 

Oh, boy. Probably just playing hockey. Like or even lacrosse, like playing sports. with my friends. Especially I grew up in a subdivision where there was everybody had children to live in. There was the Ontario housing project. So we used to have great big hockey games in the parking lot. So that was great.

 

Georges El Masri 

Okay, so sports were a big part of your childhood. Yeah, absolutely. Okay. And what's you just kind of mentioned it, but it's part of my questions. What's the most influential book for you?

 

Andrew Brennan 

Rich Dad, Poor Dad. Okay. We already got to that point.

 

Georges El Masri 

What's your favourite podcast?

 

Andrew Brennan 

Oh, you know what? I don't really listen to many. No, no, I haven't even listened to the ones I've been on. Alright, so I'll have to skip that one. You have to skip it.

 

Georges El Masri 

Okay. Is there a maybe are you into reading books or audiobooks?

 

Andrew Brennan 

I did audiobooks for a while and I've done quite a few of them. I do have a bunch. I even again, some of Kiyosaki books I've listened to several times, there's been a few of them. I mean, if I pulled out my phone, I tell you once I had that, I do audiobooks from time to time. Yeah.

 

Georges El Masri 

Okay. Are you a morning person or a night person?

 

Andrew Brennan 

I don't have a preference. Actually. No, I don't like, I joke around with my friends, saying like, geez, I got to set my alarm like once or twice a month. But I'm not crabby when I wake up or anything like that.

 

Georges El Masri 

So well, what time do you normally wake up?

 

Andrew Brennan 

Around eight o'clock, or Oh, although I couldn't sleep. I was up at six today. And, you know, no, no difference when the day goes on? I'm not like cry because it was up at six.

 

Georges El Masri 

Do you have a certain routine that you follow in the mornings?

 

Andrew Brennan 

No, not really. I usually just, you know, grab some breakfast, come down to my office, check my mail and maybe start my day.

 

Georges El Masri 

Okay, sounds good. Well, you've done really well. Always great to be able to talk to you. I appreciate your time. Is there anything else that you want to share? Maybe you can tell them how people can reach you and what services you provide?

 

Andrew Brennan 

Sure, you can reach me at Andrew at BPI. So that's short for Brendan property investments, so bpirealestate.ca. I do provide coaching and consulting services if anybody's interested. You know, I'm always there looking to help others grow. It's important to get to the right guidance and some feedback. So great. Yeah.

 

Georges El Masri 

So I'll put up a link for your information as well. Once again, thank you very much for your time, and we'll talk to you again soon.

 

Andrew Brennan 

It was my pleasure.

 

Georges El Masri 

All right. Take care.

 

Andrew Brennan 

Thank you.

Contact Us

Georges El Masri

Georges El Masri

Toronto born, I spent my early childhood in Mississauga. My passion is to help your family become "well off" through real estate investing. I always work with the idea that your needs come first and I'm here to guide you. You can trust that my opinion will be a genuine one! I look forward to connecting with you soon if we haven't already.