C.A.R.E. & Maximizing Income From One Property


Alfonso Salemi: Welcome back, REITE Club Community. It's Alfonso Salemi here with my co host, an amazing co-founder of the REITE Club, Sarah Larbi. 

Sarah Larbi: Michael Arthur, just quickly Michael Arthur is a really awesome realtor investor. In the Ottawa region. And he's a wealth of knowledge. So today's podcast, we talk a lot about different things. We've talked about how he got started in real estate.
We talked about how to improve and increase the cash flow with some different strategies and a lot more. What do you think, Alfonzo? Shall we play the podcast? Bring it in, Michael.

Michael Arthur: Absolutely. Let's get to the show.

Sarah Larbi: All right.

Alfonso Salemi: Hello and welcome to the podcast Michael Arthur. How are you doing today? Mike, the realtor.

Michael Arthur: Yes, sir. I'm doing well. Alfons o, nice to meet you and Sarah.

Alfonso Salemi: Yes. Heard some amazing things about you, what you do, how you're helping investors. Usually we always start off these podcasts. Give us the 30,000 foot view. Start at the beginning and get us to where we are today. Little bit about yourself.

Michael Arthur: Myself originally from Toronto and I've been living in Ottawa for about over 20 years. And I started to get into real estate by basically renovating my basement because before I got married I was single and I had a townhouse. And I saw friends renovating their basements as well, making money.

I realized myself, I said, look, I have this empty space, wasted space. Why don't I convert it to a bachelor suite? So I followed the principles, followed the strategy, and I made my money. And right now it's still there. I'm still renting that, that townhouse. I've moved to a newer house, but I still rent that basement as well as the upper level as well.

Sarah Larbi: Very cool. There's lots of things to know and there's probably lots of things as you're getting started on your first conversion that you're like, oh, I didn't know this, I didn't know that. If you can summarize, obviously the first one's probably gonna come with lots of learning curves.

If you can summarize like what, maybe your top two or three learning curves were as you were doing the basement and converting it that you would recommend somebody that's fairly new, getting started in conversions. Be aware.

Michael Arthur: Number one, the critical one. Number one, no, the zoning. No, the zoning bylaw of the neighborhood where your property is. Because I did that research first before I went, before I did the conversion, I confirmed it with the city. They said it's fine, not a big deal. And I checked the zoning bylaw that allows or permits secondary units, and I was good.

I followed the height restrictions as well. The height, the ceiling restrictions as well as the second. The second critical point was to manage your budget wisely. Have a contingency on the side in case of surprises, and there were some surprises in terms of extras and stuff like that. So those are the two critical pieces of advice to give to a new investor, for sure. Zoning and knowing your budget.

Alfonso Salemi: Definitely two key pieces with definitely getting into that type of project. And you had mentioned you had heard some friends or colleagues that were doing the similar type thing, and that's what really sparked the idea. But what was your background? Did you have a construction background? Did you work in an involved or in around that, or what was your own personal experience leading up to that first project that gave you that confidence to say, Hey I'm gonna go do it. I think I can.

Michael Arthur: Like I worked in the government for a while and I wanted to learn about how to make multiple streams of income, right? So yeah, you have your government salary and pension and all that stuff, but I wanted to make something on the side as well, right? And it's been a dream of mine to have my own business as well. So I decided to listen to other people and attend real estate investment clubs in Ottawa.
One is the Ottawa Real Estate Investors Organization and the other one was Rain. I started to get into those clubs as well and I learned from successful real estate investors about strategies that they used. Also, I took the Rich Dad Poor Dad Course. I took the weekend course. I didn't take the, I didn't take the $40,000, $50,000 course that was unreasonable.

Sarah Larbi: Alfonso did, he's raising his hand.

Alfonso Salemi: I absolutely did.

Michael Arthur: Because I realized that at the time, I didn't make a lot of money and it was a big investment for me. So it was important for me to know the fundamentals first before I decided to go into the courses. But luckily I went to these clubs, learned from other people. Learned about their mistakes and their successes, for sure.

Sarah Larbi: Very cool. So are you able to share, maybe let's fast forward to today. I don't know how, maybe you can share how long ago that was when you started, but what does your strategy consist of and what does your portfolio consist of today?

Michael Arthur: Today it consists of right now I recently sold some I sold a property through a joint venture. And my strategy is buy and hold as well as the BRRRR. I did some of the BRRRR stuff as well. But most of my most important or fundamental strategy that I use is the BRRRR, as well as, sorry, buy and hold, as well as enhancing a property to its highest and best use in terms of creating multiple streets of income on that property, right? Charging parking fees, storage fees having the technology services package. Those are multiple streams of income opportunities right there.

Alfonso Salemi: Fantastic. And I definitely know that in Ottawa, eastern Ontario, I'm not sure if you are bilingual and cross over into Quebec and didn't do that at all. But I know many of the members of the REITE CLUB community, know you are, you've worked with them and definitely Francois was one of the people and know, shout out to Francois. Listening down on the podcast. He adds all these podcasts, guys. So shout out to Francois.

Michael Arthur: Francois's a great guy.

Alfonso Salemi: That's the great thing about networking, that's how we got connected. We met through Francois, through someone else, and now we met you through Francois. And he's always talking about yourself and the great light and talking about the care principles, C.A.R.E, that care principle. And I know that's so important to you, and Francois highlighted it when. He was introducing us. Can you walk us through it? What is, we know you care, but what does care mean?

Michael Arthur: I learned this from another investor who used the same approach and the name doesn't cross my mind, but I use that type of concept as well for my realty business. Where? The C stands for customer service. Okay. And it's important to get to know your customer and it's important to know what their needs are, not what your needs are, what their needs are, so that when you search for a property for them, whether it's a regular property or an investment property, you know that you meet their expectations.

What I do with them is to get to know them on a personal level first, then to understand what their goals are, real estate investment goals are. Then we will find out, okay, which strategy will fit their goals, and what types of properties will help them achieve those goals. That's the customer service angle of it.

The A stands for the analysis, which involves mostly conducting analysis of the market, what's going on through in-depth research, looking at statistics, reading research publications related to real estate, where the future of real estate is going, what the trends are. That will help me as an informed investor focused realtor to inform my investor clients where the opportunities are in Ottawa and the surrounding areas.

Then art stands for relationships. It's important in any business, I don't care what business you're in, it's important to establish relationships in order to create opportunities for, not for yourself, but for the other person whom you're relating to or connecting to. Because with relationships, through networking like I did with Francois, . It provides opportunities. And when you get to know the person that you are connecting with, they will provide you an opportunity to compliment each other. At the end of the day, E stands for education.

This is the critical foundation of my business philosophy and my business style, because without education and without applying the knowledge that you have learned through education. You're gonna make bad decisions, so it's important to get educated about real estate investing before you make or invest in the market no matter what. Without education, you're doomed to fail for sure.

Sarah Larbi: Absolutely. That's pretty cool. Thanks for summarizing it. It's it sounds like a great principle and a great way to help investor clients. I do wanna take a little bit of a different direction and just ask you about the Ottawa market and you mentioned, fundamentals in a sense. What can you tell us about 2020 and 2021 with Ottawa and what are some opportunities that you're seeing for your funds.

Michael Arthur: Okay. So Ottawa, just to give a background about Ottawa. Ottawa is driven mostly by government jobs and the high tech sector. Ottawa is the home of the high tech sector, Canada, north, or yeah, Canada North, and as well as the home of the federal government.
There's a lot of, in that sector, there's a lot of job opportunities, job growth, and a lot of people are coming to Ottawa for those opportunities, those sectors. Ottawa is also driven by the infrastructure economy where it already built its first light rail transit line, and it's expanding throughout several parts of the city.

There's a lot of commercial development. There's a lot of construction of rental units, actually not only the major apartment style units, but also infill development multi-family. And there's several opportunities. In terms of opportunities, I tell my investor clients to invest where the jobs are, where people go to work, as well as where people take transit.

The new transit line in the Ottawa area, if you buy property, a property within 700 to a thousand meters of the L r T station. Those are great opportunities to make money in real estate, for sure. No question. So if you buy properties near amenities like schools, government offices, LRT construction jobs as well, those are great opportunities.

Another key component of the Ottawa economy is that Amazon has created two distribution centers, one in the east end and one in the west end of the city. So Amazon is generating or creating jobs in those areas. Where there's opportunities for investors to invest in properties or to develop rental properties or purpose-built properties in those areas near those facilities that Amazon has created.

Alfonso Salemi: Awesome. Yeah. And I think that's what we've been hearing a lot about the auto market, especially this last year, even leading up to the global pandemic. It was a hot market. So you're there, you're boots on the ground. You're Mike, the agent man. You're the secret agent. Tell us your secret: know how we are finding, how are we finding these, right?

Obviously you're the agent, you're the boots on the ground going out there doing the hard work. But if I'm someone trying to crack that auto marketer's surrounding area, close to the LRT, great tip, roots finding that. But how are you going out there? How, what would you suggest to go and find those opportunities that are around?

Michael Arthur: The reality is, to be honest with you, there's a lot of bidding wars going on, and it's not good for investors who are looking for value. So the best approach that I take is looking at expired properties. as well as off-market properties on Gigi or whoever, or talk to my property managers who I know or advertise on k Gigi looking for opportunities.

That's, I think that was the money. Those were the money makers are finding on m mls. It's okay, but you have to grab it early and hopefully there's no offer date on for that property because if you see an offer date, then you know for a fact it is a bidding war. Which is unfortunate. So realistically, for investors, they need to have number one, and I advise my investor clients all the time, have a monthly cash flow goal in mind.
What's your cash flow goal per month? You need to have that goal because that will determine whether you want to buy this property at this certain price or another property at another price. And also will determine at which area of the city you want to buy a property. Is it gonna be in a rural area, semi rural area, or urban area?

To buy investment properties within the urban area of Ottawa is very difficult. It's expensive, it's getting expensive, but there's opportunities in the semi rural and the rural areas of Ottawa price-wise. So my approach to that is just talking to people, building relationships, looking at off market opportunities, talking to listing agents who had expired properties to see if the owner is willing to sell their property privately to my investor clients. So that's what I've been doing.

Sarah Larbi: It sounds interesting. You've got opportunities, different spots, different areas. I'm guessing Ottawa is probably good for that medium, short term stuff as well as it's a little bit more expensive and there's a lot of people coming in.

You're working with investors. You've got, you've created a name as when we think of Michael Arthur of a realtor working with investors, let's, and maybe you can help others out as well, but let's just say you've got a newer realtor and they're looking to try to figure out a way, okay.
Rather than working with. Homeowner. In my opinion, investors are just like the gift that keeps on giving. Sometimes, you can get a bunch of deals a year from one of them. Or many of them. How does somebody position themselves, or what do they need to do to be able to cater to investors as a realtor in your opinion?

Michael Arthur: I think what you need to do is, what it boils down to is to offer value offers, like some education about real estate investing in general. That's a good starting point as well as what I do sometimes is that I would in terms of teaching someone new to the game is to. Know the important principles of real estate investing.

That's the important thing, the important principles in terms of location investor for positive cash flow look for opportunities of properties near amenities like LRT stations and stuff like that. That's the important thing as well as building relationships.

That's the important thing. Join an investment real estate investment club like I did. So talk to people, connect with people, get a mentor, which I've done. Get a coach, a real estate coach. I know you, Sarah. You're a great coach to talk to several people. and so those are, I think those are the good starting points for someone to get involved in the real estate investment game is to get that knowledge first, because you have to understand the process.

You have to, you need to understand the system for you to be successful in real estate investing, for sure. No matter what. If you get a cold, you are gonna suffer. And I've seen it .

Alfonso Salemi: Actually, it leads me right to my next spot there. There's no better segue, on, on your website you have tons of resources, information for your clients to review, take a look at, get comfortable with there's calculators and how the legal issues and why would you wanna hire a licensed agent.

Those types of things. You talked about the pain and suffering and that's, we all wanna try to avoid it. It's impossible. I know Sarah, several years in real estate building her portfolio, it didn't go swimmingly. It wasn't all rainbows and butterflies and unicorns. Same long way. If you do it long enough, it's not a matter of.

If it's just, it's when, there's some issue that you have to come up with. So what are some of the common mistakes that you commonly see? Or maybe you're talking your realtor or your investor partners or investor clients off the ledge and going no. I've seen this before. Don't get caught in that trap. What are some of the tips that you offer?

Michael Arthur: What the number is, the most fundamental principle, which for me is to focus on the numbers and remove your emotion. Because the numbers will tell the story of whether or not the property that you're analyzing is worth buying as an investment property.

Yes, it looks nice, it looks beautiful, it has its features near the location, but number one, does it meet your cash flow goal. Number two, does it provide opportunities to increase your highest and best use of that property? Number three, will it give you multiple streams of income, like opportunities? For example, can he create a legal secondary?

In the property, can you convert from four units to five units or to six units or whatever, right? So focus, always focus on the numbers, look at creative opportunities on properties, and then go from there. That, that, that's the most important thing. And I've seen a lot of investors saying, oh yeah, it's great.

Is it at a great location? And I meet my cashflow goal, but they don't do it, they don't do the numbers because number one, they don't know how much rent they will charge for their unit, that they're property that they're renting. So how can you meet your cash flow goal if you don't know what the rents are in the neighborhood?

Sarah Larbi: Absolutely. You won't. You definitely won't get there. You need to know the numbers. You need to be able to, but you also need to be able to pull the trigger and not have analysis paralysis Awesome. When the numbers work. Cause at some point they're gonna work and you've got potentially a very short window to make it happen.

Michael, I wanna go back cause you hinted at it and you mentioned it a little while. And it sounds really interesting, the highest and best use and the most cash flow. You talked about some packages that you offer different things that can boost cash flow.

Can you share what that sounds like? I think I heard a tech package, but maybe just give us some ideas of how to maximize the cash flow. What do you do as an investor?

Michael Arthur: What I do as an investor, what I do sometimes in one of my vacant units right now in my townhouse, right? What I include is free internet just to entice people to come. And they'll pay the rent at the price I'm looking for. So that's one example. Another example is the technology services packages where those bundle packages that you get from Rogers and Bell, you got from the internet.

Your landline or cell phone and cable. That's a technology services package that you can charge to your tenants, where you also charge 'em for the administrative fee because you're doing all the work. All they do is just move in and enjoy what they have. You have the TV there, you have the internet router there, all that stuff is there. The phone is there. The landline is a perfect line.

Sarah Larbi: Are you supplying them with a tv?

Michael Arthur: Not in my case, but I've seen investors do that.

Sarah Larbi: The only reason I'm asking is because I was thinking, and this is maybe just more so for multi-family, but let's just say you've got somebody that's been paying, I don't know, half price, cuz they've been there forever.

You could go to them, you can't really raise the rent. But I've always thought this was a really good idea. And you're on the same line of what I was thinking. Could you offer them a big screen TV for rents, quote unquote, for, whatever amount of time that they need. And I don't know how much is the big screen tv, but is it enough that you can say it's gonna be a hundred dollars more, or whatever it is. Could they see us? Then you could boost your NOI. Could it work?

Michael Arthur: It's all about offering value. For instance, on Boxing Day or in January, prices for big screen TVs are like 200 bucks because as the retail companies, they won't get rid of the old inventory. The old TVs, big screen TVs, might as well take advantage of that.
It'll cost you 200 bucks, but the ROI on that will be astronomical, will be beyond $200. And long term. If you have that long-term, Having those, providing that type of value will entice you to keep a long-term tenant for a long time.

Sarah Larbi: What other ideas do you have? So you've got the package, you've got the tv, maybe just share I don't know, if you can share like five or six or more for those sirs, that'd be awesome.

Michael Arthur: Okay. Another one is you can charge for parking if you, if it provides that opportunity, charge for parking at a certain time. Also you can charge for storage fees if you have a shed or if you have a garage, you can rent that garage space or that particular, those spaces to somebody who wants to store their vintage car or their person, their personalized items.

Something that is sentimental. Those are great opportunities too. Also, you can if you have a multi-family property, I heard this a while back when I started learning about real estate investing is that a company can pay you a certain, like a royalty fee for putting a satellite on top of the property.
That's a money maker there too. , also, you can charge, if you have a multi-family property which offers laundry, you can charge that too as well. That's another piece of poor income stream that you can think of as well. Another one I heard as well is where you can offer a grocery delivery service or a laundry service, a dry cleaning service, right to your tenant.

Alfonso Salemi: I love that. What a creative way of finding different ways to pull revenue out. Rent is just one revenue stream, but like you mentioned all these other services that's really underscored by the value you provide flipping that on its head, what's one of the biggest expenses that maybe it's unavoidable, maybe, if you don't do normal maintenance or something like that, it's gonna cost you more, but you are seeing either yourself personally or through your investing clients.

It's a cost and you're like, just be prepared for this. I know it sucks, something that's recurring or maybe something you can avoid to say, we found different ways to reduce that. Because that's always about more revenue or less expenses.

Michael Arthur: The most I've seen, based on my experience and talking to my other investor clients is Appliances damage appliances or tenants leaving damages behind when they move out, which requires cleanup.
That's something you can't avoid. You have to clean up like repainting or drywall and all that stuff. It's unavoidable. But they pay for it. At the end of the day, they have to pay for the damages, right? What I've been seeing a lot lately is mostly appliances. Appliances that go down are plumbing issues as well that need some fixing and stuff like that. That's what I've been seeing.

Sarah Larbi: Great. App appliances are like, probably the thing I get the most calls about appliances and like some kind of leak somewhere, plumbing issues. But I do wanna go back to the income TV income or laundry income or if you're offering these services. In Ontario, you don't want that to be part of the lawful lease, so you gotta separate it and put it on different contracts.

Same thing with parking, separate contract, not an addendum, not in the lease. I think that's just really important because as soon as it becomes lawful and something happens, you're stuck with it as is. And you're gonna have to abide by the guidelines and the rules. If your property was built in Ontario after, or before 2018, and who knows if that's gonna change down the road, but if you wanna increase parking and it's not part of the lease, you can increase it.

Because it has nothing to do with the RTA. Same thing with TVs, same thing with laundries. And I think it's just important that we go back to that and mention it because I can see a lot of people putting it on their list, I would not put it on separate. Not a paralegal. I'm not a lawyer, but I would not put it on my own lease in Ontario.

Michael Arthur: Why I tell my clients is separate the rental stuff in the lease and the other stuff in a separate agreement. The technology services packages, as you mentioned snow removal. Snow removal is another thing I offer to my tenants as well. So if you keep them in separate contracts and the cl and the, your tenants signed them. That's legally binding for that, but separate the rental stuff from the other miscellaneous stuff, right?

Sarah Larbi: Even here's the thing and another little tip. I don't know if you agree with me, Michael. You can let me know, but if one of your tenants in a multi-unit is going to do snow removal, do not discount their rents. Just do a separate agreement and pay them separately if you want. That's cool.

Don't put that in the agreement because if ever they don't work out or they stop, that lease doesn't go back up to what it would've been regularly. Exactly. So no discounting the leases separate agreement has nothing to do with the RTA if you wanna pay them 50 bucks rather than reducing it by 50 bucks. And it's gotta be separate transfers, separate transactions.

Michael Arthur: Keep everything separate. Yeah. I agree.

Sarah Larbi: Awesome. So what are you working on these days?

Michael Arthur: Dealing with bidding wars right now for investors and regular buyers looking for opportunities for, especially for my multi-family investor clients, looking for my off-market opportunities is not easy, it's very difficult. You have to really headhunt a lot and talk to people and connect with property managers and other people, even past clients or leads, if they have any opportunities. So that's what I've been. I've been doing a lot of hours submitting offers and bidding wars. It's nuts.

Alfonso Salemi: That persistence, that patience that goes through, right? That's ultimately what gets that success. It's not just overnight, right? It takes years and years for decades to get that overnight success. And the cool, really the really cool, exciting part, that, as we get close to the end of this podcast, is you've actually put together the successful real estate investor toolbox, right?

That was something that, through, again, hashtag Francois. That our community advocate get in touch with him today if you haven't already. But because we, this alignment that we've made with yourself, the REITE club that you put together, that toolbox to benefit the REITE club community. So for those out there, maybe spend a minute explaining what this real estate investor toolbox is all about.

Michael Arthur: This particular toolbox is a program. It's like an educational program. Where investors, especially new investors, get tools in terms of analyzer. A book that I wrote with my business coach about real estate investing 101 and strategies that I have learned and applied over the years and is a way to prepare investors, especially new investors, about the realities of real estate investing because it's important to be prepared for the same goals.

If you fail to prepare, you're prepared to fail . So that's the essence, or the fundamental principle behind this toolbox is to offer a support program for investors to make well-informed decisions on real estate investing looking at or analyzing real estate investing properties. So it is actually a supporting learning tool.

Sarah Larbi: Where do you get it? And then is there a cost?

Michael Arthur: At the moment it has just started, so I haven't put it as a cost yet. At some point I will promote it, I'll develop it at some point. I just developed it a few weeks ago. So at some point I'll put everything together into a program and then I'll promote it.

Sarah Larbi: Awesome. By this time, the podcast aired. Who knows? It'll probably be a few weeks from now anyway yeah. Awesome. All right, Michael. The next part of the podcast is our lightning round, Alfonso, and I will ask you a series of four questions. Every guest has the same questions. Are you ready to play?

Michael Arthur: Let's do it.

Sarah Larbi: All right. Here we go. Michael. Question number one. What is the best advice that you have ever received from another investor or at a networking event?

Michael Arthur: Do your research. Pretty much do your research, do your homework. Before, make a decision. Make sure you can not add analysis paralysis, but do your homework before you make the right decision because your doing your homework is, the amount of effort you put into doing your research will reflect the outcome of the result that you produce at the end of the day.

Alfonso Salemi: Absolutely. And guys, we talked about taking that action, that gut feeling, but you have to have some data and some research to back it. Don't go read every book out there possibly written, cuz you won't do anything in the combination of those two. So great. Do the work, do the research, figure that stuff out.

Where are some, a good, this is a great follow up question is what is your favorite resource for real estate investing? Maybe where you do that research, where are those LRTs coming in? What's a great resource or resources that you use for your real estate investment?

Michael Arthur: For real estate investment? When it comes to zoning, I would refer to the City of Ottawa's by, Website that has all the stuff about bylaws. Also I look at the Royal Bank of Canada's affordability index to see what the trends are in Ottawa. Also, I looked at a Canadian Housing, mortgage Corporations rental survey.

I look at that as part of my analysis in terms of looking at the rental markets. I look, I talk, I look, I do research talking to people in the, in my, in the investment clubs I told you about. Of course, look at the MLS data and I do my market updates, provide them to my clients as well to see what's going on in the market.

I talk to other investors to see what they have done and join organizations like you guys like the REITE Club. Learning about different things, what's going on in different markets in Canada, including Ontario, of course.

Sarah Larbi: Awesome. Lots of great resources that you just gave us there. Thank you so much. Next question, number three. What is the one attribute that has made you most successful?

Michael Arthur: Attribute is being creative, using my brain to come up with creative ideas, as I explained to you about the different multiple income streams, right? It's just being creative, learning from others, and then what you learn from them. You can co come up with your own ideas based on what you learned from them to make it your own idea that will result in a positive result.

Alfonso Salemi: Absolutely. Putting your own spin on it. That is the one thing that we all are unique. We're all different, we are the same in some ways as well. Absolutely. Alright, so to wrap up the lightning round wanna know a little bit more about you? What are you typically doing on a Sunday morning?

Michael Arthur: Sunday morning? Having breakfast with my wife, with my lovely wife and talking and myself and my wife we attend church. We'd be doing it online because of Covid and stuff like that. So we're Christians and we are heavily devoted to God and that's what we do. Sunday mornings. Raise up as a Catholic, from, of course.

Sarah Larbi: Very cool. Michael, where can our REITE Club community reach out and find out more about?

Michael Arthur: Okay, you can go to my website, michtheagent.ca. My phone number (613) 890-7653 or you can contact me by email at Michaelb.com.

Alfonso Salemi: Absolutely. Get on the website, check out lots of moving day tips. That's on there, guys. Amazing information. Michael, anything else that you'd like to share with the REITE Club community? Any words of advice or tips that you wanna leave us?

Michael Arthur: Like we discussed earlier, it is to avoid doing analysis paralysis. Take action if you're not getting the cash flow that you want there, just take that action and there's opportunities for you to increase that cash flow. As I mentioned, the strategies that I told you that I talked about, the multiple streams of income and if you make mistakes, you learn from them as the same goes.
Experience is the best. , no matter what experience is the best teacher. We all make mistakes. We learn from them. We applied the mistakes that we learned from, and then we moved on. And these are two successes.

Sarah Larbi: Awesome. Thank you Michael Arthur for being on our show. It was a pleasure having you on. And guys, reach out to Michael if you're in Ottawa or interested in the Ottawa region. Michael, thank you for everything that you've provided us today and for your continued support with the club. Thanks so much.

Michael Arthur: Thank you. Thanks guys.

Alfonso Salemi: This is the outro for Michael Arthur. What a fantastic conversation. Really learned a lot, took a bunch of notes and I'm definitely gonna be looking up the affordability index. I think City, province, I don't even know, I'm just gonna Google it, find that, but Michael had amazing information, finding new revenue streams and maybe the rentals that you already have or when you're considering purchasing, multi-family type building, larger or medium size. What other revenues can you extract when you're looking at that and analyzing that? Super great conversation. Sarah. What are some of your takeaways?

Sarah Larbi: I think it just goes back to building the right team. Again, your realtor needs to be local, they need to be investor specific and ideally an investor themselves. But while connected to the industry and doing a lot of the research as well to help you out, especially if you're not from the Ottawa region, and then even if you are somebody that's able to look at the numbers and help you with the analysis, I think that is super important.

Alfonso Salemi: Absolutely. He's the boots on the ground. He's the, he's created these tips and tricks of all of his learnings to provide for his investors, clients that he works with. And as well, he's put together the toolbox, specifically made for the real estate, sorry, the real estate education training and education club. He specifically made a toolbox for the REITE club community so that we can use it and be successful in our investing strategies and our careers. And he knows the right club are some heavy hitters and some real investors, so there's some really good nuggets in there as he launches that out.

If you haven't checked it out already, the REITE club community website, thereiteclub.com. There's so much amazing information about these podcasts. Maybe that's where you're listening to this, recording, this podcast today. We have the forums, our right partner pages, all the information, everything that you need, maybe as well as that toolkit for Michael Arthur so that you can be successful in your investing career. We want you to grow, and more importantly, Sarah, what do we want you to do?

Sarah Larbi: Come grow with us.