Alfonso Salemi: Welcome back, REITE Club Nation, to another episode of the REITE Club podcast. It's Alfonso Salemi, and today co-hosting with Laurel Simmons. How are you? The lovely Laurel.
Laurel Simmons: I'm just great. Alfonso, how's it going with you today?
Alfonso Salemi: I am super pumped. I'm super pumped. I was really looking forward to recording this podcast today with you and our amazing guest, Tim, and we got to talk about a little bit about heart, right?
He actually literally talks physically about his heart. And some of the problems that we had. But we were just talking about that too, about the experiences of even the last little while of the REITE Club and then way beyond that before the REITE Club even formed and where we all got started on those beginnings of those paths.
Wherever you are on that journey, thank you so much for joining in on the podcast tonight. I'm excited to get to Tim to the podcast. He's got a great story. He went through a lot of muck and he's still persevering and inspiring so many people and helping his people, his tribe, his trust, your talent, people as well too, right? Educating on financial education and investing. So I'm super excited to get to the podcast. What do you say, Laurel?
Alfonso Salemi: Let's go to it. Hey, welcome to the podcast. It's Tim Tsai and I'm super stoked to have Tim here on the podcast with Laurel and I, Tim is definitely one of my mentors. He is one of the guys early on in my journey. Of real estate investing that I looked up to, and I was just like, wow, I gotta just listen to what this man says. And Tim crushes it and now is helping out so many more people. Welcome, welcome to the podcast, Tim.
Tim Tsai: Thanks for having me again.
Laurel Simmons: You have so many stories and we just, before we started recording, we thought let's just talk about the stories, cause your story's really interesting like I didn't even know that, there were story. I mean there's all these stories you don't know about people. But the, there's some really pretty cool stories. So Tim, why don't you tell us, if you can your heart story.
Tim Tsai: My heart story that's a funny way to put it. Hey, I never thought about it that way. My heart story. I am nearly nearing, is that the right word? Near 39 years old. And I have my very first heart attack when I was 18, second one at 19, and the third one at 29. I had a heart surgery when I was 20, so you know, people want to talk about numbers when it comes to realistic investing, and those are the numbers that a lot of times I like to share because I think those are the things that I saw.
I saw were curses and now they have become a blessing for me because I think it's really what helped me stay. Focus, stay committed to my goals. However, really gave me the chance to figure out what life is all about and really understanding that investing is awesome. However, the ultimate goal is not about the money and the doors as we were talking about.
It was a very unique situation because it really, even the first one, it just kinda happened out of nowhere. To be really honest. I was quite, I was always, I was never like, Fit and built. However, I was never sick and weak either. It was basically what happened was, cause it actually took three cardiologists to figure out what was wrong with me.
That's why after my first one, I already started getting checked up and doing tests and whatnot, and the first cardiologist wasn't able to help me. And then, Before we could get a proper diagnosis. I had another one. Again, keep in mind they were all minor. That's how they're classified.
They're all minor, hence I'm still here. And so God's the second cardiologist. However, the second cardiologist. Couldn't figure it out either. And finally went to the third one who was actually the head of the cardiology department at the St. Paul Hospital in downtown Vancouver. And it took somebody with 20 plus experiences to figure it out.
Because it's not like I was not eating properly, I was doing anything strenuous. It was literally the diagnosis was the fact that potentially after puberty when my heart was developing and growing, it actually grew two extra arteries and one extra circuit, but they were very micro. So that X-ray didn't pick it up.
MRI didn't pick it up. And even though every time I did the stress test, I don't know if any of you ever did it They're like, yeah, there is definitely something wrong with you. I'm like, yeah, thank you so much for telling me that. Now what? Yeah I knew something was wrong with me.
Alfonso Salemi: That's why I'm here.
Tim Tsai: Yeah, so that's what happened and as soon as they figured it out, I got scheduled in for surgery and got rid of that and inevitably got right back into the rat race after school was done, cause that's how I was taught. And it just goes to show how deep-rooted, some of these old traditional ways of thinking about money and how to run your life and live your life really is because I sometimes joke now, you know what? Two heart attacks did not wake me up. It took the third one to really put me on the path of what I really wanted to do and pursue today.
Laurel Simmons: Was the third heart attack, like you said, at 29 you were still in the corporate world. At that point?
Tim Tsai: Yeah. I was.
Laurel Simmons: Was it stress? Just the way you were living your life? You don't have to go into details, but give us some.
Tim Tsai: A lot of times I like to ask people, how many hours do you work on average per week. Most people will say 40 hours, right? If you're unionized, maybe 37 and a half to be exact, and I always say, you know what?
Congratulations. You're very lucky because I remember towards the end of my corporate career, I was pulling 70, 80 hour weeks. Simply because of the fact that's the price that comes with, and I think Alfonso, if I remember correctly, you can probably relate to this as well, right?
Climbing the corporate ladder super fast just means that you take on a whole lot more and getting paid the same. And I was climbing the corporate ladder and I got into senior positions. What that also really translated into was the fact that I had teams to manage across the country. We live in the country with time zone.
Where I want to be staying in bed. However, you guys in Ontario, you're already up getting the day going, and I want to spend time with my friends and family, and yet people in the N B, C on the West coast, they're still prepping for the next day. And I also have to travel to support all of them. And so as a result, usually if I have to say be in Toronto for the following week, I would fly out on the Sunday.
Sacrificing personal time to be there. So I'm fresh and ready to go cause you know you wanna work hard. That's what we were all taught. And go for the next promotion. Go for the next title. Go for the next pay raise the next bonus checks.
I would do that and then instead of finishing on Friday and coming home on Friday night, I would oftentimes just opt to stay on Friday to finish everything off and come home on a Saturday. And so that's really what gave me the third one. It was definitely stress-induced and malnutrition.
Alfonso Salemi: This is the other thing is, Tim doesn't give himself enough credit either. Like he's amazing, like he was such a high performer of where he was. And I think a lot of people can maybe relate to that, that are in the corporate world.
Climbing that ladder again before I left, that corporate world is all about that next bonus being at the top of that list. Maybe if you were a car dealership sales, I was always that, like the coffees foreclosures mentality, right? From what we grew up in, like the movies and all that kind of stuff.
They use that talent and wisely, right? Because they want you working across the country, giving your leadership your insight that you share, but that it's your talent, right? And you're getting capped. It's capping your own. And that's like the, I don't know if that has anything to do with the name of the company.
Trust your talent. That's what. But that's what it makes me think of, right? Is that have the trust in yourself. And that's why so many people are, oh, quit the job and Sarah, just recently our co-founder, talks about that corporate lifestyle, that same mentality. She has that talent, right? The company's training and organizing. And now you're like empowering, really empowering others to trust their talent. With what you learned in your teaching.
Tim Tsai: That's what we're hoping to do. Yes.
Laurel Simmons: What made you so he had your heart attack. So then was that the actual, I don't know, did you end up in the hospital again and then it was like you woke up and you said, okay, that's it. Enough. And you had what made the 90 degree turn and you went somewhere else. Just walk us through that process. Cause I found this so fascinating to find out.
Tim Tsai: Did you know what, my first two, basically it was. Super silly. The first one, literally, I remember watching, sitting on the couch watching TV and pain. Blacked out, woke up in a hospital second time, pretty much the same. I was going to university at the time. The third one though, funny enough, because you're trained enough now to un to learn about your body, you understand a little bit more. And plus if you've had two, you understand that kind of pain.
What it feels and this is why sometimes when I'm watching movies or shows these days and when people are like, oh my God, I'm having a heart attack. I'm like, There's a lot of truth in that cause I know when doctors watch shows like er, they're like, that's not how it works. However, again, when you're having some sort of weird chest pain, I don't wanna compare heartburns to heart attacks or anxiety attacks, however, It does.
That's literally what it feels like. You start to feel numb. And I was driving the third time that happened. I was literally driving for a work appointment and fortunately I live in Edmonton now. And so fortunately the university of Alberta Hospital was about a three minute detour. I literally drove myself and drove up to the er, dumped my car with the keys in the car running and I checked it myself and then I called my partner to come. That's how it happened. Like I felt something coming on and I was going through a very stressful time at the time.
Laurel Simmons: Then what? Then you, I'm gonna pull this outta you one way or another. Then what?
Tim Tsai: Then, they hook you up, all that good stuff and then diagnose you. I didn't have to go through a surgery, thank God. And this is the funny thing is that again, three minor heart attacks, one heart surgery.
I also live with five autoimmune disorders. And so again, this is why a lot of people are like, why don't you move back to Vancouver used to live there or you moved to Ontario. I'm like, the humidity kills me because one of things that I have is rheumatoid arthritis. However, the point is I actually got diagnosed that same earlier that year as well.
One of the things that I also have as a result, it's called enclosing spondylitis, and that's a charitable cost that I'm always supporting as well, and really hoping to elevate and raise the awareness for that particular disease is the fact that cause my dad also has it. Your over time, my spine basically would just be bone stacking on bones.
I'm losing cartilage as we speak. My bone, my spine's fusing up and so you lose mobility over time. However, it's a type of rheumatoid arthritis, so cold and damp does not help. I remember I bought my very first walking cane when I was 25 years old, living in Vancouver. Because there will be times that it was so cold and so damp that I could not even get out of bed in the morning.
The point that I'm making here though is that particular year basically what was happening, because of all the traveling, I wasn't taking care of my physical health and my nutrition. And so as a result, because my spine was fusing, my ribcage started caving in and applying pressure. Because after my heart surgery, I had already been warn that my heart functions at probably about an 82% to 85% capacity as a normal human healthy, normal human heart. And this is also why when I go into the pools and hot tub these days, if the water goes above my heart level, I have a hard time breathing sometimes.
I'm still working on that, and I've spent the last almost decade now looking after my health as well. But that's what financial freedom brought me. It's not about the doors, it's about focusing on what matters. And so I went through that, but right after that I went into a straight, major depression.
When I shared this with people, sometimes I say three heart attacks again didn't kill me, but a major depression almost made me take my own life. And that's also why I'm so big on just really helping people. Just give them perspective on how to improve your life. And that's why I've decided to start on the financial side cause it's a big stressor for a lot of people. However, physical wellness, mental wellness, emotional wellness, spiritual wellness, all that comes together.
Laurel Simmons: Wow. It really does. And It's about the person, like looking after who you are, like the person, and then you go after the other stuff because the number of doors is that's the number of doors, you obviously put a plan into place to replace your income or supplement or whatever you did and you started.
Can you talk a little bit about. How you started and what you did. Cause obviously you were really motivated, severe depression, three heart attacks, you're 29. Yeah, you probably, I don't wanna say you should be dead.
Tim Tsai: You terrible to say that. You know what, and this is why I said it's a blessing now. I feel like all these things were put in my ways to teach me something and I was able to survive it. And I'm hoping that I'm thriving because of it. Because it really taught me, I think it really taught me that what we really, the time that we have, the limited time that we have on this planet really is precious, and it prompted me to look for my purpose.
This is why, my personal core values happen to be the identify five core values for trust your talent, which is health, sustainability, joy, fulfillment and impact. And these were, every single word means something to me. And that's the message that we want to create and put out there through trust your talent.
Because I think together we can all achieve more. And this is why I love your catchphrase too. Come grow with us. Because that's, there's, it's a never ending path. The moment people get that the journey is what's enjoyable, and that's what matters. And so for me though, because of all the health challenges, I'm not eligible to buy any sort of critical illness, insurance, life insurance, anything like that.
I also realized because I made good income, however, in 2008 when global financial crisis happened, My entire portfolio pretty much almost got wiped out. And what got me into real estate was because I got recommended to invest in a commercial syndication deal that went south as well. So all my savings are gone by the time I was 29, despite the fact that I have been making six figures since I was 24 years old.
That was a huge aha for me as well. So all these the combination of all these things that were happening, I just, it hit me that I gotta do something. I had to do something and because the trigger was losing all my savings in a real estate deal, so I decided to do real estate training.
Little did I know, Alfonso, you and I were exposed to the same trainer pip. It really turned into a financial, the beginning of my financial education, and this is why I always say real estate is just a vehicle. Ultimately speaking, we're all learning how money works and how money works for us so that we're not trading hours for dollars for the rest of our lives.
Laurel Simmons: I often say that, money is the fuel you put in the engine. I really what are you gonna do, roll around in the money. Money in and of itself has no value. It's just pieces of paper or numbers on a virtual bank account, right? It's what you do with it.
Tim Tsai: It's a currency and a tool that somebody invented at some point to ease the transaction process.
Laurel Simmons: Exactly.
Alfonso Salemi: Again and when we again went through that training you helped a lot of the students in that training. That's where I met you in those rooms. You were at the front of the room learning how to now. Help others. And you've seen a lot. You were a new investor. We all are new investors at some point in our lives. And you worked with a lot of them, closely mentoring them, continue to do that now with you and your team. And what do you think, like one of the biggest mistakes is, that's what it is like they, it's the money aspect they focus on or is it something different? Maybe something that we haven't thought of?
Tim Tsai: I feel like people focus on the vehicle a little too much rather than the end goals. And I think, during our last podcast, I do share this. There's no secret there. Here, honestly, everything is transparent. My only formula is what I call, let's figure out what your purpose is, what your why is, and then paint that picture together.
Let's describe that to me. What it looks like, what it sounds like to you when you achieve the life and the lifestyle that you want. Does it have family in there? Does it have travel? In? Does it have good food in there? Big houses, small houses? I don't care. What makes you happy? What gives you joy and gets you out of bed every single morning going, today's a great day.
I'm gonna make the best out of it. And then we are gonna help you find the time freedom and the money freedom. So I actually, funny enough, I just had this inspiration yesterday and put it on Instagram. I write my little quotes once in a while here and there, and I just realized that, you know what the new status symbol, the old ones, as we all know, oh no, fancy degrees.
Higher educations, big houses, fancy cars. Now. I'm like, no, it's health. It's time freedom. It's money freedom, the ability to do whatever you want, whenever you want, and however you want. And so once we get that picture, okay, you know what? Let's get to work because it's time. It's now time. Let's utilize the most used currency.
If you wanna go on vacation, you want a house, you wanna take your family out to do things. What does that translate into? Some people find that a little crass. However, again, I'm, all I'm doing here is trying to help people master the tool with that as money. So let's solidify your financial goal and let the goal determine the strategies that you need to apply.
Alfonso, you and I, same thing, baby strategy, lease option, and it's no longer a baby for you. You've done super amazing with it. And let the strategies dictate the markets that you get to go into. And this is probably why you and I both enjoy lease options so much is that there's virtually no borders of what lease options can do.
Cause we do 10 and first most of the times, right? It's about really finding the people and helping them out. And then the last part of that equation is properties. That's the funny thing. Property is at the bottom of the equation cause you can substitute just as easily substituted with starting a new business, maybe starting a multi-level marketing business, or maybe buying a franchise or whatever it is.
You need to have a plan and then pick the market that will support that. And so that's what I call the Y goal SMP process, and that's how I coach people. And I constantly have to remind them, okay, yes, inspection report came back. However, really what does that mean? Let's come back and take a look at your numbers and what do the numbers look like? Does it contribute to your financial goal? That'll paint that and fulfill that picture for you.
Alfonso Salemi: We're like the CEOs really of our own lives. And there's so many different aspects and divisions, and, subcommittees, Laurel don't throw something at the screen, right? But of all those different things of within our own lives and our own feelings that are all intertwined, like you said and that's why like the values.
I wanna unpack those a little bit. Pick maybe one or two of the your favorite values and just that you said each one has a meaning. And think about that in our own lives of where we want that balance, that work life balance. Good luck. It's never in balance. It's always balancing, right?
Laurel Simmons: Yeah. Can I add something in there? I'd have to tell you that when I hear people talk about work-life balance, I roll my eyes so hard. It's a wonder, they get, don't get stuck in the back of my head because there is no such thing. What a crock, what an absolute crock. I don't know who invented that, but I swear to God I'd love to strangle them because there is no such thing. Now, there's harmony. But that's not work life balance. That's a big difference. Yes. That was my little soapbox. Sorry guys.
Tim Tsai: Totally agree. So going back to what Alfonso was saying?
Alfonso Salemi: Yeah. So tho those five core values, right? First of all gi give 'em to us again and then maybe pick one that really, that you get like more excited about or just maybe like a tinge more that you wanna share a little bit more of the meaning with.
Tim Tsai: It's health, sustainability, joy, fulfillment, and impact. And for me these days, I really focus, I feel like they're all really intertwined, as you guys can see, and these days I really focus a lot on the health aspect of things because really trusted talent was built upon the vision that number one, it's gonna outlast.
Every one of us, ideally because I want this to be a platform, a movement, and I know you guys do too, and so this is why there's so much harmony and synergy in terms of what we're doing here. Because health, to me, I grew up and I grew up in Asia actually, and didn't move to Canada until 1999.
The first, pretty much half of my entire life, it's very much Asian language, Asian culture, Asian food, Asian standards, and Asian traditionalism. And I just saw so many people, so many of my elderly, they literally worked for 40 years of their lives and by the time they retire, They don't know what to do with their time anymore.
They get bored, they bug their kids or they get sick, unfortunately, because once you are not in that rhythm anymore, they don't know what to do with it. And even the ones that, before they even retire, they just work so hard. And like me, they work themselves to the ground. Literally. They got tons of health issues and they're popping pills all the time.
Because they don't feel like they have the time or the resources to really take care of themselves. They constantly have to give themselves to the job, give themselves to the family. And then they neglect themselves. And so I always say that so many people work for the first of their first half of their lives for wealth, and then use that wealth to pay for their health for the rest of their lives.
I don't want that, and I don't want that for myself. I don't want that for anybody. And that's why the other side of all of this is impact these days is that I feel like there is a message. That I really want to put out there as well, like you guys. And so the vision statement that we have at trust Talent really is elevating human potential by living a strategically positive life, and strategically positive have so many layers within it because it really implies the fact that we all have choices.
Cause I think one of the biggest things we also need to remember, Is the fact that our current reality right now is the combination of collective results of every single decision, every single choice that we've made leading up to this point. And so again, we can choose to be pissed off at our job, at our health, at our life, at our bosses, at our spouses, at our kids, at our, at whoever, or that contractor that then not finish my rental on time or the mortgage broker that did not come through with a refi on time.
We can all choose. To be pissy about it, or we can choose to look at what we can learn from it. And so being strategically positive, that changes the mental state and that allows us to really move forward in life with so much more. So much more energy and purpose. So those are the two that I would probably say are the two that I am just like, Ooh, every single day.
It's not an alarm clock. When that clock goes off, I'm like, It's an opportunity clock for me. What can I do today? It's crazy because at 20 I almost lost my life. I promised when I got wheeled into that surgery room, I made a silent promise to myself that when I make it outta here, I'm gonna do something different one day.
Laurel Simmons: How long did it take you after, your, the crisis in 29, like when you were 29, how long did it take you till you got to that point where you were actually say I guess comfortable or you could relax a little bit because to say that okay, I'm not going back to the corporate world and there goes my job and there goes my portfolio and wow, major depression and that's not easy to deal with. And then you came out of it. So yeah, what did you do or how did you start? Because that's what you did is like my heart's actually clenching right now. That is really tough.
Tim Tsai: I'm not gonna say it's easy. Both of you, people like to see right now because we have stage time, so people always see the good side because I'm not gonna come on a podcast and complain about my life. However, do we go through hardships and challenges on a daily basis? Absolutely still and yeah.
Alfonso Salemi: I was gonna say all the time. That's what makes it, I think that's what we sometimes get focused on is that goal, but it's that pursuit, right? It's that getting in, getting comfortable with that pursuit of it and getting to that goal of, okay, we got there. It's never as fun as actually getting there. Once you get the fish on the boat. Oh you got it on the boat. But so what was the, what was that pursuit? What was, I want everybody to hear this story cause you started taking the classes.
Tim Tsai: I'm gonna because so many things overlap as we all know how life happens. It's never just, it's the chronological order of things never really made sense to me. When you look back right. It all the dots all connect perfectly. However, as it's happening, because I basically lost all my savings by the time I was 27, and at this point I had been already making an average of hundred $50,000 every single year, ever since I was 24.
By the old school traditional definition, I was doing well on paper, but like I said, I put my money into company stock options. RRSPs TFSAs. The first year, ever since the first year TFSA came out, I was maxing it out and then, at this point it's probably just one year. And then also retirement funds.
After 2008, basically in 2009, I just realized that, oh my God, my entire portfolio basically has like it's pennies to the dollar at this point. And I always talk about the fact that I worked for Yellow Pages group and I got laid off later on. So figure and so funk company, right? So when I first joined the company, like this is something that my parents, everybody growing up told me.
Get good grades, get a good job so you can, write the benefits, get good income, and get a good pension and you might have stock options. So I had all that. What I remember buying stock options at 18 bucks per stock. By the time I sold it, it was a penny stock and because of global financial crisis and because of Yellow Pages not responding fast enough to the market changes.
This year we all had to pivot. They didn't, it's a big ship to turn around. And so I just realized that I really had to do something. And so that's how I got introduced to this whole finance that this whole commercial syndication deal. And I put all my money in there. I. And this is why super passionate about educating others like you guys about this particular asset class that is real estate.
Cause if you know what you're doing, you can make a lot of money. If you don't, you can lose a lot of money. In my case, I lose every last penny of my savings by the time at 28. However, what really opened my eyes was the fact that when that happened, I thought I was getting my deed certificate because I had put in money into the deal in a syndication.
What I got instead was a letter to summon all the investors that were involved in that project. Hundreds of us, hundreds of millions of dollars involved, and I was probably the last batch that got put through because those people took everybody else money and ran. And so that put me into a boardroom at a law office right here in Edmonton and I was probably one of the youngest of, not the youngest person in that room.
Everybody else was likely in their fifties, sixties, seventies, cause they thought the exact same thing I did at that time. Oh my God. My retirement savings funds in RSPs and savings just got cut in half overnight. I better pull it out and put it somewhere else safe. And they all felt real estate was safe.
What I witness killed me, like literally, again, heart attacks compared to this. It didn't even break my heart as much as I as witnessing this. I was watching and hearing 50, 70, 60 year olds saying things like that was my entire life's work. How I'm gonna put food on the table, how I'm gonna pay rent.
Oh, it gets me going every time I talk about this. I'm gonna go kill myself now. And it's so hard when you see that. And I was 28 and I just, I walked away from that meeting super numb and I just thought, I'm not gonna join a apart. Sorry, I'm not gonna be a part of that, but I'm gonna do something about it because, I'm young, I can keep working and continue to accumulate my wealth.
However, if I don't know what I'm doing, somebody else can do that to me again, 30 years later. And that's what got me to go into the real estate training, and this was back in 2010 now at this point. And so I started taking. Classes as Alfonso knows and started applying, buying a property here and there cause having a corporate job made it easy to get qualified for mortgages back then still.
I was able to hammer out basically six lease options within five months and effectively the cash flow was able to pretty much pay for all my basic expenses. And then funny enough, because during that time I got a third heart attack and then I was off on long-term disability for nearly a year. And then when I went back to work, I basically got laid off.
My entire department was gone within two weeks. After I returned back to work. However, I also went back home and realized, oh, I actually don't need to go back and find another job. That's when I made the decision. Now I have the time to take off my health and continue to build my real estate portfolio.
That's how it happened. And this is why I will always commend people that do lease options cause we're helping people and helping ourselves all at the same time. And from that point on, I got into a lot of other strategies and different markets over the years too.
Laurel Simmons: It's really amazing. You're right. There were a lot of different things that you didn't see probably at the time, as you said, but you look back at it, cause hindsight, it's always perfect, right? And from a distance the big view you can see wow, look at that and this and that, and it's all connected. And that's just it.
It's really amazing. And yes, one of the things that I know Daniel and I love about, doing the rent to own is of course, You do help people like cause if that's where you're coming from, then most of the time things work out. They don't always, but then life isn't perfect. Like that's just the way it is. But, we do, and I know Alfonso's the same and Sarah's the same. We're doing this with the REITE Club because we really wanna help people. And whether these people decide that, our members, the our community decides.
That they wanna just have one property to at supplement their income just a little bit, or whether they wanna totally replace their income and not only replace it, but make it so big that until the 10th generation, they have, supplied the income, whatever. There's everything in between, right? It's up to the individual. But you gotta think about it, you gotta plan, you gotta dive deep and it won't, it doesn't just happen because you wish for it.
Tim Tsai: Exactly.
Laurel Simmons: Wow. We could talk about this for the next two hours, couldn't we? Alfonso.
Alfonso Salemi: You know what I love talking to Tim, and you know what? I love that we even able really to connect after a few years and getting back at it. And that's a good thing is that it comes from a good spot. It comes from the heart, right? And we thank God, Tim, that you're still here and your heart still ticking so that we can keep interviewing you and talking to you about this stuff and inspiring other people so that you can continue to give on. But I think it's time we get to the lightning round and we ask you some questions. So Tim, are you ready for the lightning round?
Tim Tsai: I am ready. Hit me.
Alfonso Salemi: I'll start off if that's cool with Laura. All right. So question number one, what is the best advice you've ever received from another investor or at a networking event? And that could be virtual networking cause you're doing a lot of that too lately. Yeah.
Tim Tsai: The best advice I ever got from a fellow investor is I'm just gonna say when it comes to credit, it's better to have it and not need it, than to need it and not have it.
Laurel Simmons: Good one. You betcha. Okay. Number two. What is your favorite resource for real estate investing? And that could be anything. A book training, a person event. What's your favorite resource?
Tim Tsai: Putting me on the spot. Now, in all honesty, you guys, cause I feel like I've been unplugged like I, because for the last few years I really focus, and this is how actually my partner and I divided up the business too after a couple of years, is that he's running the Canadian portfolio. I went into the US, I went to the UK to build our international portfolios, and so being reintegrated back into the Canadian real estate investing landscape right now, you guys to me, is my main source of everything right now, so I love it.
Alfonso Salemi: That's awesome. That's I appreciate that. And we definitely have to get Ray, we have to get Ray on the podcast. Give him the link. Literally today, okay. Alright. So question number three. What is the attribute that has made you most successful?
Tim Tsai: Commitment. Learning to make things a priority. So I think you know what, in the last few years I've constantly been doing personal development and I learn a definition about commitment that really hit home, and I wanna share this, maybe you've heard of it already. However, a commitment is the choice I made that I surrender to.
Laurel Simmons: I like that. So image is the choice I make that I surrender to.
Tim Tsai: Meaning the good, the bad will come your way, but you surrender to anything that happens and you keep your eyes on the goal and you commit to making it happen.
Laurel Simmons: Wow. That's really powerful. All right, question four, I think you can handle this one. What do you typically do on a Sunday morning?
Tim Tsai: What kind, what type of things do I do on a Sunday morning? I usually have a personal development podcast in my years and in the summertime I go out for walks in the neighborhood first where I'm on the treadmill in my office just getting warmed up.
Laurel Simmons: All right, there you go. So how can people reach you, Tim?
Tim Tsai: People can find me either through social media very straightforward on Facebook. They can go on facebook.com/theTimTsai and on my Instagram, the only Tim Tsai, and they can email me directly to Tim@Trustyourtalent.ca.
Laurel Simmons: There you go. Thank you. And so before we go, are there any final words? Is there anything, is there one last piece of advice, tip, hint, whatever that you'd like to share with our listeners?
Tim Tsai: I do especially when it comes to real estate investing. We always say that it's not about the number of properties, it's what each of them is doing for you. I know people that have 20 properties and nowhere near getting out of the rat race. I know people that have one property and that property, it's debt servicing everything for their lifestyle, and they're completely free. So don't focus on the property, focus on your goal and how you hit that with the right strategies.
Laurel Simmons: Wow, great. Thank you Tim. We really enjoyed this and we'll have you back for sure.
Tim Tsai: Thank you. Thank you so much again.
Alfonso Salemi: Thank you, Tim.
Laurel Simmons: Alfonso. Wow. I just, I could have talked and listened to Tim talk for I don't know, a couple hours. What about you?
Alfonso Salemi: I always get inspired by Tim. He was one of the first presenters at the front of the stage. We had the same mentor. So have that same mindset that same belief system and really have that same philosophy on, helping people. If you help enough people, you're gonna get everything. That you want and him, really kinda getting emotional, got me emotional on realizing and then reflecting back and looking at, what we can do more and how we can help others and all that kind of stuff.
That's why we're here for, that's what the REITE club's for. We're here to help people to continue to grow, to get inspired, to give you some facts, some knowledge, some actual practical advice that you can take cause we can have a lot of inspiration and motivation. But you gotta put in the perspiration, right?
Put in the work, right? Yeah, that's what all the tools are. And with that work that's why we do these podcasts. We hope you're enjoying them. We want to hear from you, right? And and rate review. Share it with a friend. Let us know what you want to hear more of, maybe what you wanna hear less of. I don't know. Let's we're always open to advice as we grow, right?
Laurel Simmons: Absolutely. And you can reach us laurel@thereitetclub.com. alfonso@thereiteclub.com. Go to the, join our website our REITE Club community connect with us there. We're there, and there's lots to share. And then we are all growing every single day, so we really hope to see you.
Alfonso Salemi: Absolutely. And you know what? I always do this and I'm gonna put a challenge out to the REITE club community. If you send me a message on the REITE club link, on the REITE club community, find me, like me subscribe, let's get connected.
If you send me a message with the password, TYT. All right? And that's for Timmy, that's for my boy Tim, that's trust your talent. TYT If you message me that I'll, we'll set up a phone call, we'll talk about anything you want about real estate and I'll excited to do that. So send me a message, TYT on the REITE Club community and Laurel. Until next time, what do we say?
Laurel Simmons: We say come grow with us.
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