017 Getting from 1 Door to 437 - Bad Tenants, Education and some of the challenges of starting out

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units. While I continue to add doors to my portfolio (I added another 85 in 2018 alone and have another 87 under contract to close shortly), my focus is on training others to do what I have done.

I am a real estate investment coach. Multiple Ways to Wealth is a training, education and membership organization for real estate investors that I have developed. It is based on my experience, knowledge and training.

I provide training, coaching and educational resources. Through my programs, I share my real-life experience and practical knowledge. I give those in my programs access to my network of successful real estate investors to learn from their knowledge and experience.

My specialty is finding the money. I know how to find, attract and keep investors happy. I help my students attract the right investors so they can add hundreds of doors to their portfolios by investing with joint venture partners.

Living the life you desire takes work. I am a firm believer that with the right mindset and the best training we can solve our biggest problems to live the life we deserve.

https://ednakeep.com/

Transcription:

Edna

Hey, hey. It's Edna Keep here. Welcome to the seven figure real estate podcast. I'm your host. I hope you enjoy the episode.

Good morning. It’s Edna Keep here. Welcome back. So today we're going to be talking about throwback Thursday. Chandelle wanted me to share with you some of the challenges we had when we were first starting and how we got from zero doors, our own house, I guess I should say in 2007 to two hundred and thirty-seven doors today. So basically, as a financial advisor, which I did for about twenty years. All my assets were tied up in mutual funds. I mean we owned our own house. We didn't really pay attention to what it was doing, going up or going down or anything like that. And so, I sold mutual funds and I invested in mutual funds and we had a lot of money invested in mutual funds and at the end of 2006, we were in a pretty good place. But in 2007 the market started to drop again. And one thing you know, in mutual funds is people don't like to buy in a down market, they like it to be more solid when they buy, and it goes against the grain and I had a lot of people in monthly plans. I still had some passive income coming in, but it dropped. And, when it goes down like that a lot of people didn't want to buy and our money was going down, so it just bothered us, and we thought that we should look at another way to start making money. So, we started looking around and actually it was one of my clients that came into my office one day and told me that they'd been taking some real estate classes through the rich dad group. And actually, at the time it was actually rest Whitney out of the U.S., they said that they decided to buy two houses they did two flip houses.

And they said, “If you go to the classes, just know they're going to upsell you on education. So just when you go, don't even take your wallet and then you have an excuse not to buy and all that kind of stuff.” But we went, and it was a free event, three-hour event and when it was done, it interested us. So, they sold this on a three-day weekend in Saskatoon, just a few weekends out and we bought that. So, I think it was like a thousand bucks for the two of us. So, we thought, well that's easy enough to spend. We could probably spend that shopping if we didn't go. So, we went, and it was life-changing. It really opened our eyes to what was possible in real estate. We had no idea up until then what was possible.

And they basically gave you an overview of what you could do and out there you could decide if it was something you wanted to pursue. Well, they took each of us outside of the room and asked us at the end what our goals were for real estate. And you know, we decided, based on what we'd heard, that we wanted to have fifty doors in five years because if you could get one hundred dollars a month in cash flow per door, if we had fifty doors, we'd be making five thousand dollars a month, which we thought because we had no intention of leaving our work, we both really liked what we did. We thought, well, that would be a really nice buffer for us. And they said to us, “Well, you realize if you want to get fifty doors in five years that you're probably going to have to spend some money on your education.” So, they presented it to us and they asked us what we're interested in, and we told them and that was five classes for us to take. And each class was a three-day weekend and they didn't have all the webinar-based stuff. Back then it was a little, a little tougher. We did decide to hire a phone coach. But, that was like a six or eight-week program. I can't remember exactly. But at the time when we decided that we were going to take the education, the cost was twenty-seven thousand dollars U.S. and I remember at the time, Warren and I, they let us go and talk about it ourselves and basically it came down to the question, you know, because we knew it was a lot of money and when you're not one hundred percent committed to yourself, it's a lot.

But we decided we were going to commit because we had been introduced to a couple who had taken the classes a couple of years before and we're doing really good. They had like forty houses and then we talked about the couple who had not taken the classes and had done two fix and flips and decided it wasn't for them because they both had government jobs and it was so hard. They had two young kids, they worked evenings and weekends and it was really like just doing another job and they hated it and they didn't make enough money on their fix and flip to make it worth their while. And so, they quit. We didn't want to be that person, we wanted to be one who could build it long-term and like the couple that we'd heard that had taken the classes. So, we decided with a lot of scare, fear I should say that we were going to bite the bullet and take the classes.

Well, you know what, we spent a lot of time and a lot of money that year we went, we traveled Edmonton, Calgary, Toronto, Florida, Vancouver for all our different classes. I think back to Calgary twice because there was something there too. And you know what, we loved it. We got to network with other real estate investors and got to know them and got to understand their fears. And there was people in there who were experienced, had been doing it for quite a few years and I still remember being regaled by these tenant tales at dinner one night by this couple of Italian guys. They were so fun and funny, and they were telling us about this fellow who'd moved into their property and they couldn't get him out and they'd, they'd already taken. One of the guys had went in and threatened him and the guy took him to court or whatever they do. Anyway, got in trouble and so they were scared to do anything more to him, but he was still living in their property and it had been like six months and then the last straw was this. He started stealing GST checks from the other tenants in the area and they went, you know what to hell with it. Even if we go to jail, we're getting that guy out. So, they went, and they knocked on the door and they got in or actually, they think they let themselves in and that's illegal. And the guy was sleeping on the couch and he said, “I grabbed this frying pan and I just whacked him upside the head. And I said, get the hell out of my house right now.” And he yells, “I'm calling the cops.” He says, “You go right ahead because tonight one of us is going to jail and I'm not sure who it's going to be.” So, he kicked them out and then he just sat in his chair and he waited and sure enough, the cops showed up. He said, “This guy’s banging on my door, banging on my door. Honestly, I think he's on drugs,” and I think that was something they determined he was on drugs. He says, “Because he's acting like he lives here, but he doesn’t,” and he says, “I think you should take him away.” So, the cops loaded him up and took him away. So anyway, it ended up working out good because they just pretended it was like their property they didn't know this guy and I just laughed and laughed, and I thought, you know what, if we ever had a really bad tenant, we would do the same thing. Anyway, that was just a funny story we heard. But we met a lot of people who are doing really well in real estate and making a lot of money and building their wealth. And we just went for it.

The funny thing was is we ended up meeting the couple that we'd been told about at one of the networking events that our mentor had set up and we ended up partnering with them because, you know, what we were still scared. We had by this time had bought two properties of our own. And the first two properties we bought were from the equity out of our own home. Also, spent some of our money on the education classes because we didn’t want to put it on our credit card. We didn't want to be paying the high interest. So, we use the money from our home to do that. And we bought two condos and I still remember walking up to those condos with our realtor and he was telling us that a bunch of condos in this one unit that used to be apartments, were going to be sold off as condos. I said to him, “Is that one for sale?” And he said “Yes.” And I said, “Oh my God, my daughter just moved in there and she's renting it. I will buy that one,” because then I know I got a good tenant, right. I always knew that she paid her rent on time. That's how she was brought up. I never missed a rent payment in my entire life. I knew she wouldn't either. And so, we bought our first condo scared to death of tenants, of finding tenants and got my daughter as a tenant. And in the meantime, she had got to know her neighbors and they had lived in the same apartment building, dwelling for seventeen years. They were a couple may be at the time in their forties, late thirties, early forties. So, they've been living together for a long time there. And I thought, well, you know what, I'll buy that one too because if that tenant has been there for seventeen years they're not going anywhere. So, we bought that one too. Well, as it turned out, shortly after that, I think within about four months they decided they were going to buy their own condo. They said they'd seen the prices of them go from when they got their first chance to buy them years ago to where they were now, and they couldn't believe it and they weren't going to take that chance again. So, they bought their own condo and there we were with a vacancy. But we posted it on, I believe just on Kijiji and before they moved out we had a new tenant move in and it was a very good tenant too. It was an older fellow with a mentally handicapped daughter and you know, they took great, great care of the place. It looked just as nice when they moved out. And then of course from there it was just got easier and easier to get good tenants. And, so that was our start.

Now the exciting part of our start is we knew that we were going to have to learn how to raise money if we were going to grow the way we wanted too, and we partnered with the other couple and they were already raising money and had different joint ventures on the goal. So, when we partnered with them we at the time were able to get a lot of mortgages in our name. So, what we would do is we would put the mortgages in our name, they would raise the money and then we would split it. I think what we did is we gave the investor fifty percent and then we split the other half, twenty-five slash twenty-five and so it worked really good and they managed it, so we didn't have to worry about working with tenants and stuff like that because it was still didn't want to do that because we were busy with our own work. Plus, as a financial advisor, I also couldn't raise money. Then about a year, just over a year of working together, I was in talking to a realtor and he said, and by this time we had bought a house with none of our own money, which was so cool. I've told this story, but I'm going to tell it again just because there's some new people on here, so we dealt with this lady. We'd been told that there was a new house in an area that time my daughter used to own a house when we went by and looked in. It wasn't a new house, but they put new siding on it, so it looked new. It was the 1950 house. We negotiated with her starting at one hundred and forty and went to a hundred and fifty and then eventually bought it for one hundred and sixty thousand. Now we probably overpaid a bit. There's no doubt about that because I think five years later, four years later we had an appraisal and it was worth one hundred and sixty thousand. But you know what? We got the mortgage on it. We got one hundred and twenty thousand mortgage, I don't know, it was less than three percent. All I know is our payments were less than four hundred dollars and taxes are fifty and insurance was fifty. So, whole payment costs on that house for less than five hundred. We rented the upstairs for twelve hundred, so that was seven hundred cash flow on the upstairs. Then we rented the downstairs for another five hundred and it was great. They had shared laundry. I mean it wasn't a perfect house. There was no garage. The grass looked like crap, but you know what? Tenants are used to living in that. And so, we cash flow that property around a thousand dollars a month. We still own that property to this day.

And the key was that we got it with none of our own money. So therein lies the value. If you think about that, if you could get a property with none of your own money and even if you overpaid for it a little bit, the seller was so happy because she got full price for her property. Plus, she was going to get six percent interest on her money, which was a thirty-two thousand that we needed for the down payment and we paid that monthly for, I don't know, two or three years, I think it was one hundred and sixty bucks. So still after that, we were cash flowing over a thousand right. And then at one point, she needed some extra money because of her mom. So, we just paid her off. By that time, we had been making some money, so we just paid her off and yeah, we still own it today.

So, if you think about that, we've owned that property for eight years. Cashflow did approximately a thousand dollars a month since we've owned it. And right now, I think we do have the upstairs vacant. So, eight years. That's ninety-six thousand dollars. So, do we care that we overpaid for it a little bit? Not at all. It's still a great property. We love it. Brings in good money. It always pays for itself. Even with the downstairs rented right now, which I think is at seven hundred. Well, that takes care of all the payments and we've got some cash left over because we are paying the utilities upstairs. That is kind of how we got our start.

Now our first apartment building. This is such a cool story. I had approached a realtor and I told him what we were doing, and he said, “Well, Edna why don't you buy an apartment building?” And I said, “Wow.” I said, “I can’t, I don't even have ten houses,” and at the time I think, I can't remember how many we had, but anyway, that was always our thought is we had to start with houses, build up the amount of houses we had before we could get into the apartment building world. And he said, “No, that's not true Edna.” And he says, “You guys have a decent net worth, you have good income.” He says “You wouldn't have any problem qualifying for a mortgage for apartment buildings. Plus, they look at apartment buildings different because it's based on the income that they make themselves.” And I said, “Well, okay, you convinced me what you got?” And he says, “Well, I do have a twenty-four unit for sale,” and he says, “It's in a good area and there's even an opportunity for you to condo convert that.” Because at that point there was a lot of apartments being converted into condos and sold as individual units. So, we thought, “Wow, that's just going to be awesome.” So, he told us how much it was, and I can't remember the total price, but it worked out to seventy-five thousand dollars a door and he said, “You're probably going to have to give them full price to make it worthwhile,” or it was a little bit less than full price. And I said, “OK, write up the offer.” And he says, “Do you want to go look at it?” And I said, “OK.” So, I went and drove by it. I couldn't get into it at the time, but I drove by it. I said let's just get it under contract by the time I got back to the realtor office, he had the paperwork done, we signed it, put in the offer and got it accepted.

I remember when we were talking to different people at the time, it was like, “Wow, seventy-five thousand dollars a door. Do you know that like five years ago those properties were selling like twenty thousand dollars a door,” and that scared us again. We're thinking, “Oh my God, what are we doing? Are we overpaying?” Then we started working on the financing and we're trying to get vendor financing. They didn't want to give it to us and we started working with this group out of the states. We had met through a mortgage broker and we were working on the financing and what we realized is we could only get fifty percent financing because the rents were so low because the rent they had on average there was four hundred and twenty-five dollars and they, of course, had owned it for years and years. They had a lot of good tenants in there and they didn't want to lose them.

So, they were scared that if they gave us a vendor take back and we went in and start raising rents, that we'd lose all the tenants, they'd all move out and we'd be screwed. Well, we got to meet people now. We knew rents were way, way too low. So, we went and again I couldn't raise money then. So, I did have a few family members I approached that invested with us and our partner who they had been gone to Vegas when we made the offer. And when they came back we quickly said, “Oh, like can you come over before you even go home?” And they came over and we said, “Well if we bought an apartment building, would you guys partner with us?” Because we knew we needed property management. We had never done property management. We didn't even want to take this on by ourselves. We were scared. And they said, “Oh, absolutely. This is so funny. Because we were in Vegas, we're making goals. And we were saying this year we want to get fifty doors.” Which was more than they already had. Well, this one building made them halfway there. So, they were beyond excited to partner with us on it and we were beyond excited to have him because we knew they could raise capital and I really couldn't. So, I did raise a bit. They raised most of it and we took possession of the building. We got a hard money loan which was like at twelve percent I think from a lawyer out of Vancouver I think for like four hundred thousand dollars. And we did end up getting a vendor take back and how that ended up happening is we got all the way to the end of supposed to be getting financing from this one lender in the U.S. And they were telling us every day, yeah, tomorrow, tomorrow, tomorrow, tomorrow. So, we kept putting the seller off and then that was right at the collapse of the market in the U.S. So, they ended up going out of business. At one point we couldn't even reach them, and we were like, again, terrified because we put deposits on this building, non-refundable deposits and we thought, “Oh my God, we're going to lose all their money.” But we went and talked to the sellers again, told him what had happened, said we can't even reach our lender, and can you give us some time to work on it. And so again, we had to put another thirty thousand dollars non-refundable deposit as kind of a good faith thing and we went to another lender and then we finally got finance. But like I said, only at fifty percent.

So, we had to raise a lot of money, but you know what, that apartment now and we don't have ownership anymore. I had sold a couple units out as condos to good client's mind. They still own them, they're happy with them. But we broke up our partnership with the couple who we were with. And I'll tell you that story, another time. All about proper agreements. Just so you know, we didn't have one. So, we sold our half out to them and they brought in some new partners and I believe their last condos that they've been selling out of there at one hundred and sixty thousand. So just to give you an idea, we paid seventy-five thousand dollars a door for that place and they were selling those condo units. I know when we first sold them it was one forty, one forty-two five I think. And then now they're selling at one sixty. So, it was a good, good deal for us.

Although if we were to start over again today, we would have just kept it and not sold them as condos because at seventy-five thousand dollars a door. Right now, similar buildings, we're paying one twenty-five a door and keeping it as long-term rentals. So, we should have just kept it, but that's hindsight, right? It worked out okay. Our partners ended up with it. We didn't. But that was our very first apartment building. Again, this time I did put in money. I had cashed in, actually I didn't cash, I RSP, but we had quite a bit of money in RSP’s and we found one of our classes that there was a group out of BC that would loan you whatever you had in RSP’s if you kept their RSP’s and these specific bonds that they sold you, which was supposed to pass like four and a half percent and then they would loan you whatever in cash you could use it for whatever you wanted and we chose to use it on the apartment building and we were able to pull two hundred thousand dollars out of our RSP’s note.

We had to pay eight and a half or nine percent interest on it and we actually held those loans for ten years. There was a bunch of challenges with that and actually, I guess it was nine years. It would have been ten years next year in 2017, but we had to cash out early. There was CRA got involved, they'd didn't like it. They didn't like the way it was set up. They did allow us to keep it in RSP’s and just recently we paid that out. But very shortly after we owned the apartment building we brought in more investors and I got my money back and then it helped us do more and more stuff. Anyway, I think that one we spent one hundred grand on some training. We got through Marshall Silver which was life-changing and we also spent a week on Necker Island. So that was part of our one hundred-thousand-dollar education. So, when I tell you we spent a lot of money on education over the years, we absolutely have. I tell my kids, I probably spent more on my education than a doctor, but I won’t make as much money as most doctors do. Plus, I have a lifestyle which is really, really sweet. So totally worth it. We don't regret it, but we had challenges. Oh my gosh, we sweated, and we worried, and Warren and I, you know, sometimes we thought we got in our guardian over our heads, you know, and especially with like when that lender disappeared. Like that was like, oh my gosh, we would have lost. Well, the first time I think we had a thirty-thousand deposit on it, so we would have lost that and then we added another thirty-thousand-dollar deposit and we could have lost that sixty-thousand dollars if we couldn't get a lender.

But you know what, we just went in with the attitude that we're going to get it done regardless. Took us a while, but we got it done regardless. And it worked out good in the long run. Sometimes we wished we had never done it, especially when we had the challenges with our partners after and all that kind of stuff. And all I'll say about that is whenever you're partnering, and this is the lessons that we learned on something that didn't go well, which is what you always want to do is learn your lesson. The lesson we learned is to get a good agreement. The lawyers, we tried to get an agreement, but the lawyers were given us this like two hundred page document. Well, we didn't even have time to read it. We were so busy buying. We are buying sometimes three properties in a month and we were doing it and out of that time, we only ever lost three thousand dollars on deposits. We had three properties under contract in one month closing and two closed before the third and then we ended up not getting the mortgage on the third. They thought we were too aggressive buying, so we did lose a three thousand dollars deposit. But the agreement we tried to do the agreement. It was way too long. So now we have, I think even our long-form agreements like fourteen pages are short form agreement is three pages now. So, we have a joint venture agreement for every single property that we buy with a joint venture partner. It's easy to read, easy to understand. We recommend they get up independent legal to look at it as well in case they don't understand it exactly. We want someone else to explain it to them because of course, we're a little biased where we're doing what we're doing, but they don't understand. So, if they go to independent legal advice, they can explain the downsides. As optimistic entrepreneurs, we only think of the upside, right?

Oh, the other thing that we did, and this was a big learning curve when we were working with them, they were doing all the books. They were doing all the accounting and intermingling funds like they had one bank account, so it was like a mess. So, we learned to that every single property that we buy, even if we own it one hundred percent has its own separate bank account. Every joint venture that we have has a separate bank account where the investor can look at the account any day that they want to, but we're the ones writing the checks and managing yet. So, I hope that helps. I think I went on a long time. I'm just going to check here if I have any questions.

So, I'll just kind of fill you in on what we're going to do yesterday we got to see my new baby nephew, he was just born in September. Oh, sweet as can be growing like a weed and his big sister who's two and we had a lot of fun with them last night. Today we're heading off to Calgary to visit my other brother. They're heading back to Vegas on. They live in Vegas in the winter. They're heading back to Vegas on Saturday. So, we're going to spend tonight and tomorrow night there and then on Saturday, we're going to head to the mountains in Banff and ski for a full day and then maybe get some, shopping in while we're there. Of course, the kids, even though Christmas is just over, they still figure that they want to do some shopping, but they also got some money for Christmas so that we might get them to spend. There’re a few things they didn't get.

Graham says, “Do you have some conferences or seminars you'd recommend?” Yes, absolutely. You know what, we took so many conferences and so many seminars. One of the things that I'd recommend is it depends what type of real estate you want to buy. I know some people that want to get into wholesaling, which is basically finding properties and flipping them out to investors, so you can get wholesale conferences, you can google them. The conference and seminar that I liked the most in Canada besides my own of course is the Rein group out of Alberta and it's run by Don Campbell and he's the one who wrote the book Real Estate Investing Strategies in Canada” and I've been a member of his group since 2007. They are a wealth of knowledge and you can google them go to reincanada.com. I think they're absolutely brilliant. They've been in it since 1980. So, I learned a lot from them. I'm a remote member so I get CD’s every month, but you can get mp3s. I choose to get CD’s and they keep sending them to me because I've been such a long-time member because I like listening to them in my truck where I'm not distracted by my computer, anything like that. So, they're probably one of the best groups to join. If you're in Saskatchewan, come out to our Profit in the Prairies group. We try to mimic everything that Rein does. Anything that I learned from them, I share, we try to make it as Saskatchewan based as possible because we are in Saskatchewan and our three-day event at Graham that you have free tickets to. We are going to have a fantastic line up of speakers and there's going to be some offers made there for different seminars and workshops. For example, one of the speakers I have coming in is Barry McGuire and he's a guy that speaks on the Rein stage all the time and he does agreements for sale, a whole workshop on agreements for sale, which I think is an ideal way to be buying property right now in our market with none of your own money. And he's going to do a full day workshop in April and he's going to make the offer at our three-day advance. So, if you can get there, be awesome for you.

Anne says, “Can you give us the joint venture agreement?” Yes, I can. And you're in our ninety day to five k program. So, what I'll do is I'll get Chandelle to post it on there. We've got a blank three pager I think, and then we’ve got a long form. So, we have a short form and a long form, and we'll give you access to that. Oh, Amanda put Rein Canada on their www.reincanada.com. And then she also put the PPREIG pressure on there and that stands for Profit in the Prairie’s Real Estate Investment Group. And it's a great group and it's growing all the time and they're so willing to help each other. I just love that group. We just got a great, a great group in there. So, I hope I answered all your questions. Is there anything else in there?

Garth was my very first mortgage broker we dealt with. So, hi Garth, he's from Alberta. He got us a lot of mortgages. That was awesome. Oh, Drew says, “Your lenders from the U.S. What were their conditions?” Normal conditions the same they were here. The challenge they had was at the time, that's when that crisis happened in the states where all the mortgage, everybody and their dog was getting a mortgage basically, and it just closed everything down. As a matter of fact, what we were waiting for was the actual term of condition. So, we didn't even get that far. They kept telling us, you'll get it tomorrow, you'll get it tomorrow, you'll get it tomorrow. And I can't even remember exactly why we ended up going with a lender in the U.S. I think it was because of a recommendation with a mortgage broker we're working with that they thought we could get our best rate there. In the long run, we ended up going to the local credit union. It really wasn't that good. I think it was four and a half percent, but you know what we got it done and when it was all said and done, and we paid out our hard money lenders once we got the rents all up and stuff because we were able to increase the rents a lot on that building. Did we keep the original tenants? No, because they all kept thinking, we'll move out and we'll get some something else, but you know what? We knew what was happening with rents and so we were able to move our one bedrooms up to, I think it was a thousand or eleven hundred right away and I was just talking to one of my clients the other day and had her rent in there and I mean she's a stager so she makes them look really nice, but she had her rent at one time, twelve fifty and now she's got it back down to eleven hundred just because of what's going on in our market, higher vacancy and stuff like that. She'd rather have a good tenant and keep them. Then get the higher rents, so yeah. And, and there's different lenders out there.

Don't be scared to talk to different lenders. I think someone had asked me the other day, which reminds me, I forgot to give it to them. We're working with a mortgage broker out of Calgary right now because we were starting to get ask for every apartment building we were financing that we should be bringing thirty and forty percent down payment. So of course, when they start talking to us like that, we started looking around and we've got a guy now who we'd been told by a different mortgage broker that we should be looking at thirty percent down and he actually thinks he might be able to get us a CMHC insured mortgage. Of course, you never know until it's actually done, but we're working on it. I'll put that out in the group here shortly too.

Any other questions? No. OK, well I'm going to sign off and say goodbye. I will be back tomorrow morning with free coaching Friday. So, well actually I guess I will take a few minutes. It was one of our purposes of doing Facebook live every day is to remind people about our course. I think most of the people that are on here are in the course. So, our ninety day to five k program that sold all last year for five thousand dollars. It's a twelve week webinar based course is on sale the month of December, only for twelve hundred and seventy-five dollars plus GST and we even have a payment plan for those of you that are interested and the premise with the ninety day to five k program is in ninety days when you're done, you'll know exactly what it's going to take for you to be making five thousand a month in passive income in three to five years.

We based it on what we did and accept that what we recommend is go straight to apartment buildings. There’s apartment buildings for sale. Oh, Amanda's put it on here. So, the course 90daysto5k.ca to order. I've got a lot of people joining. The next class starts on January 10th and it will be in the evening at eight PM CST each webinar runs an hour to an hour and a half. You're going to learn a ton of things on there. You're going to do vision, you're going to describe what you want your life to look like in five years, and then we're going to build your presentation where you're going to learn what it takes to talk to investors. You're going to figure out your presentation of how to present to investors. You're going to have a thirty-second commercial where you introduce people to what you do and we're going to show you about getting online and marketing yourself. And that's all part of the course. I've got very, very good feedback on it.

One of my students this summer Drew, who is actually on here, I'm going to talk about him because he just amazing. Drew’s a teacher and he was off the summer, so he wanted to fast track the ninety day to five k. So, he took the course. It was just recordings and I just sent them out to him as he was complete. He'd send me his homework, I'd review it if he is ready to go on, I would give them the next module he completed. I believe, Drew, you can correct me if I'm wrong, but I believe he completed seven modules and he got his first two investors. So, he bought two duplexes with investors. He had never raised capital before. He had some of his own properties, but he'd never raised capital before and he got two investors two houses paying eleven hundred dollars a month in cash flow. So, he’s pretty happy as matter of fact, I don't even think he's finished the ninety day to five k course because he joined our mastermind and he’s going great guns. He wants to make this a full-time career and he is actually working right now on a nine-million-dollar deal with vendor financing opportunities, investor opportunities. And of course, deals like that don't happen overnight. He's been working on it for a month, maybe two months now and it will close in 2017 if everything works out right. And so proud of him though, like a nine-million-dollar deal and he's going to do it all without any of his own money and it'll be a fantastic deal. It'll totally change his life. And he's been in the program since June. That's the mastermind program, but it's the extension of the ninety day for people that want their hands held through stuff like this. He calls me all the time. We talked to different lenders. We talked together because there's some questions he's not sure of asking. So, he's working on it. He's doing great. I see great things happening for him and so, we're very excited for him to move forward.

The other thing is the bonuses. I keep forgetting to tell this. We've got a three-day event that's absolutely fantastic. We've done two already. This is our third year. We have speakers like Paul Martin coming in and if you don't know Paul Martin, he's the journalist in Saskatchewan. Absolutely has great things to tell us about Saskatchewan and the opportunities here. And he's in the know, he knows what's going on. It'll be the third year we've had him speak, everybody loves them. Like I said, Barry McGuire is going to be there. He's going to talk about his agreement for sale program. We also do a Dragon's Den play there and it's called Prairie Dragons, so if you've got a deal that you want to present a live deal, you'll get the opportunity to do that to live investors who very well may take up that deal if it's a good deal. Warren and I got a deal on it last year. He was one of the dragons and we don't promote that as well as we should. We'll get better at it this year, but it's a great opportunity to present your deals there. And you'll network with a bunch of other people doing the same thing you want to do. So, you're going to get free tickets to that.

 I'm also working on a mindset course that's going to come out this spring. Don't have an exact date, but I honestly believe that ninety percent of your success is going to do with your mindset and so I really want to train people on that and because you're my Beta test group, you're going to get it for free. Now, if you sign up for the ninety-day course before or on by the 31st of the month, and the reason you're getting it for free is I'm building it as we're going through it, so you're going to help me build it and next year I'll be selling that course for nineteen ninety-seven or just round two thousand bucks. And I know it's worth it because I've been to them. I teach it a lot in my courses. We actually just finished module four in the last group that started, and it was all about mindset. It's about an hour and a half long. But, there's some good homework to go in that and it makes all the difference if your mindset's right, because you know, you have to have the right mindset and you have to invest in yourself, which is what you're doing by joining the ninety-day program and then the mastermind because if you don't invest in yourself, how can you expect investors to invest with you? You know that that's the biggest key.

One of my students actually said this the other day on a video, if you get a chance to watch it, Tyler and Bailey and they started with me too. It was May or June. They just took possession of their first apartment building, a twelve-unit apartment building on December 1st. They are beyond excited and one of the things that they said at the end of their video, which was so powerful because those words did not come out of my mouth that came onto theirs. You have to invest in yourself if you're going to get investors to invest with you. So, remember that when you're deciding whether you're going to join the course or not. The seventy-five percent office until December 31st and these bonuses that I'm offering go with it.

The other one on top of that is our marketing team, which is again, we took a big step two years ago and hired a marketing team or a year and a half I guess. It's been the best thing that we've ever done. They do so much stuff behind the scenes that you guys don't see. They set up when I do my Facebook lives, they set it up. They send out all the notices. They get people on there. They're on here. Amanda and Chandelle are on here entering this stuff in here because I can't enter it as I'm talking, and they remind me of stuff if I forget, which just so wonderful. So free brand new twelve-week mindset course. Oh, and then also you get lifetime access to the ninety-day course and updates and I'm always updating it. Every time I take a new course or learn something new or things change in the market, I'm adding it into my program, so it's continuously updated. I believe we've got like sixty-eight people in that group now and I only just started it in January, so that shows you how many people are enrolled, and lifetime access the free three-day event and this marketing course.

So, this marketing course is Jason and Chandelle sell this four-week marketing course for seven ninety-five and you're going to get it for free and the reason is we know that you need to start marketing to do everything as effectively. Some of my students are already doing videos, which I absolutely love. Rob, who you guys have seen on here, I saw his first video. He actually did it in early December, but he didn't tag me on it, so it didn't get to see it till yesterday. So good. You're going to learn about finding the money. There's a whole spreadsheet that you get about finding the money and it's a very, very powerful exercise. I think Rob's found like one hundred and seventy-five million dollars, like just amazing.

So, give yourself a gift this year and change your life. Real estate changed our lives. We love her lifestyle. I love sharing this. You know, a single mom who lived on minimum wage, low-income housing, subsidized daycare to where we are today multimillionaires. Such a lifestyle change. And, I'm just so thrilled to be able to offer this to you. I know its life changing we've seen it change lives right in the group. Spend the twelve slash seventy-five. It's absolutely worth it. And we'll see on January 10th when the next course starts. Remember the price is going up next year. Again, I'm not sure if I'll put it back to five thousand. It depends. I have a rule one of the reasons I had it at a high price was if people pay more, they commit more, not necessarily to me, but to themselves when they say, if I'm paying five grand for this, I am going to get every ounce of value out of it. I'm going to show up, I'm going to do my homework and I'm going to do something with this twelve seventy-five. I wonder sometimes about the commitment level, so if I don't get commitments if I don't see success stories coming out of this. I'm changing it because I would rather have ten success stories than fifty people who do nothing. It just doesn't make any sense to me, so I'm looking for success stories as well. I'm writing a new book this year and it's going to be all about the success stories and my students. I want you to be one of them. Bye for now.

Thank you so much for listening. It's my sincere intention that you got value from this episode. If you're interested in learning more about building your passive income through real estate either by investing with us as a joint venture partner or as a student discovering how you can attract investors to your deals and build your seven figure real estate portfolio by helping others build their passive income. Check out my website Ednakeep.com or watch my free masterclass Ednakeep.com/90daysto5k.