Sarah Larbi: REITE club community. Welcome back to this week's episode. I'm Sarah Larbi, and I'm joined today by the wonderful Laurel Simmons, my co-host. Hello Laurel. How's it going?
Laurel Simmons: Hey Sarah. It's going great. And how are you today?
Sarah Larbi: I am good. So we've got Jared on the show. He's been a long time REITE Club attendee when we were doing our live meetings, supporters. He's currently living in Montreal, investing in Peter Burro and Aurelia and a few other markets. So we talk about long distance investing, building processes, skis done. Since 2012 it has 10 properties and has built some really good equity and cash flow, and I'm super excited to bring 'em on. Shall we bring in Jared?
Laurel Simmons: Let's do it.
Sarah Larbi: All right, Jared, welcome to the show. How are you?
Jared Henderson: Great, Sarah.
Sarah Larbi: Good. Laurel and I are excited to have you on the show. You've been on our podcast in the past. You've been a longtime REITE Club supporter and you are also a very successful real estate investor. So for the REITE Club community that may not know who you are, can you give us a little bit of insights on who and what it is that you do.
Jared Henderson: I started investing in real estate in 2012 in Niagara Falls. Not really knowing what I was doing. I actually started investing at a distance right from the outset. So I was living in Ottawa and I heard about real estate investing through a friend, and how we bought a couple of condos in Niagara Falls. And I followed suit. I definitely earned my stripes, dealt with some challenges and since then have grown to other markets and had a great time doing it.
Sarah Larbi: Awesome. So now you are, so where are you currently living right now?
Jared Henderson: I live in Montreal, so I'm born and raised in Montreal.
Sarah Larbi: You're born and raised in Montreal. You started in Niagara. You moved to Peter Burrow down the road I guess a little bit closer to Ottawa. What does your portfolio consist of today and what is your real estate investing strategy?
Jared Henderson: I've got about 12 properties right now. I've got something like six or seven in Peterborough, a triplex in Aurelia. I just closed on a single family home in Windsor because that's where all everyone's going. So I'm just following along. And actually, a recent exciting project is recently closed on a sixplex in Hamilton.
Laurel Simmons: Jared that's really cool. And you are you've really grown a lot and I'm sure when you look back like eight years to 2012, you go, wow. Like you've done a lot of stuff and your portfolio has grown.
I always find it interesting when people say, I really didn't have a clue what I was doing when I got started, because you know what? Danielle and I didn't either. And I know a lot of people who didn't have a clue what we were doing when we got started, and I think a lot of our listeners are in the same boat.
Could you tell us a little bit about some of the pitfalls and is there anything memorable that is in your memory about some of the things that went wrong and how'd you get out of it? Because to me those are all the fun stories, right?
Jared Henderson: Definitely. And no one used to hear about a story about a flip that went perfectly and someone got rich and then they lived happily ever after. My first two properties, I inherited tenants, which for me was mistake number one, because I was an inexperienced investor. I didn't know about tenants rights. And the reason why I inherited them is because my biggest fear investing was that I was gonna buy a place and I couldn't find someone to rent.
We know that's not a problem in most of the markets that we all rent in, where control freaks. We want to be able to interview them ourselves personally, understand their financial background, their profile and approve them ourselves. So it's funny that the same thing that I was more afraid of bit me.
I definitely don't regret the experience because you learn how to deal with challenging tenants and challenging situations and it requires a lot of patience for information and patience.
Sarah Larbi: Absolutely. And you're right in many areas where there's a very low vacancy rate, such as most of Southern Ontario, under, for most parts, under 1/2 %, finding your tenants is not really going to be the problem.
It's finding the best tenants, the right tenants, the ones that you're not gonna have to take to the landlord tenant board and start applying to the Residential tenancies Act too. How did that one end up? You had tenants you inherited them. Do you still have those properties today or did you end up selling them, or what did you do with them?
Jared Henderson: I ended up selling both. I wasn't able to get cash for a key situation with one of my tenants, despite offering $25,000 on a place that I spent $150,000 on. The rents had already escalated to such a degree where alternatives were, yes, more expensive. But, you have people that just like where they live and they don't want to move, and you have to respect that.
What I did with that unit was I said, look, I don't want to be this much of a pain. If he's not willing to take this amount, then simply sell it with the tenant in, and the next owner has to assume them. So that was one of the condos in Niagara Falls. The next one was a hoarder. And man I learned a lot.
Unfortunately, number one it is a health hazard. These people are obviously suffering inside too, to get to a state like that. I actually had the fire department in and you'd have junk from floor to ceiling, and as long as there's one means to aggress, which is the front door, they weren't really responding proactively and even encouraging the tenant to change their lifestyle or to clean things up a bit.
I definitely couldn't get them evicted, so I went the distance there and I contacted the tenant's son. And he was helpful in the sense that said, look, I wanna help my mother get her out to St. Catherine's where he was. And we were able to come up with an agreement where it's like, Hey, okay, if that's the case, we can stop paying rent now.
It provided that she's out in a few months and I see the end, the light at the end of the tunnel. But each was a unique situation and no one taught me anything. I had to learn this on my own and it was okay. In the end, the market does its thing. We have been fortunate in that respect. But someone said it's tough to learn and look good at the same time and that's it. No one's gonna love you the perfect deal and guide you through every little step of the process. No one I know. Because they're out doing it themselves.
Sarah Larbi: You've definitely learned a lot from back when you first started in 2012, 2013. When you went through that, I'm sure you built processes and procedures down the road. I pivot after that experience.
Jared Henderson: I know you're a big believer in systems, so I definitely got more organized, did my due diligence on properties and developed relationships with the property managers that I entrusted to manage my properties and understand what they took into consideration as far as tenant profiles. It really impacted the choice of properties I took from there on end simply because I wouldn't invest in areas that I wasn't comfortable with and call it a rougher tenant profile.
Laurel Simmons: You mentioned property managers. How did you find property managers? Because, a lot of people say, oh, go get a property manager and a manager of your property. But it's not quite it. Sounds simple, and in a sense it is. You find the property manager, but it's not quite that easy cause it's more complex than that. You gotta figure out if that property manager matches your requirements and can look after the property. So how did you go about that? Especially the first one or two that you found?
Jared Henderson: The first one sort of managed itself. So I bought into the idea where It was almost like a REIT where you just put your money and you let someone manage everything and there's no contact with the tenant and you collect the rent. It was like that and then branching out from there. I've always worked with real estate agents that own and usually manage their own rental income properties themselves. And I would recommend that to all your listeners. That's the number one place to start. And, work with their referrals.
If they're in your mark, if they've invested in the market that you're in, usually a reputation carries with property managers and they're gonna steer you in the right direction because, They want you to buy a second, third, fourth property with them. If they treat you well, then you'll come back if you experience that success and everyone wins. I would say that the number one piece of advice is in terms of looking for a property manager, work with your real estate agent. That again, it should be an investor, themselves.
Sarah Larbi: Absolutely. So you're talking about property managers, you're living in Montreal, you've got properties in Peterborough, you've got properties in Aurelia. What are some of the things that you do to manage from a distance or, manage the property manager from a distance, but what are some of the things that maybe an investor that's thinking of investing, Not anywhere within a two to three hour radius, but, maybe a plane ride away or, an eight hour drive away, what are some of the things that you do that you can share?
Jared Henderson: The world is flat and everyone can get in touch with everyone these days. So I definitely, even only a few years ago, wasn't doing as much as I'm doing now in terms of reaching out to these facebook groups, networking groups that have investors in certain areas, right?
Right now you see posts for people who have wholesale deals or have lending opportunities and have any question about anything real estate related in a post. And you have a whole host of answers. So it's a fantastic resource. So I'd recommend it to anyone who's interested in investing in a certain market.
Outside of doing your own due diligence on the fundamentals is to connect with people that are already there. I love talking about Peterborough cause I've been there for years and I have experienced some success. So for me, it's fun. I'm happy to answer questions. And provide that guidance because I was there at the beginning, didn't know what to do, didn't know who to turn to, and essentially I would just reach out to people who are already there doing what you want to do.
I don't need to be in Peterborough to ask what's going on in Peterborough. As a matter of fact, I started a WhatsApp group. Two years ago for Peterborough investors, we're now about 50 investors. So if someone has a question, just throw it on the WhatsApp group.
People answer. We're, abundance over scarcity. We're all helping each other, and we all win, right? You want the right contractor. You want to know who not to use based on other people's experience. We're sharing all that and we all win.
Sarah Larbi: It is definitely a small industry, right? So if somebody does a good job, you'll hear about it. And if somebody does not do a good job, then I'll tell you the word does spread quite quickly because we all utilize each other for resources. So that's really well said, and I'll tell you that.
If you are looking, you're a contractor or you are, any types of trades and you're looking to get into this world, if you mess with one of us, it's gonna be hard cause we all talk, unless you're an investor that doesn't really, participate in the networking and the events and in the Facebook stuff, but it's a small world of investors.
Jared Henderson: The ones who are really good, inevitably sometimes they get too expensive or they're too busy. But it's a good problem to have and it's just a backdrop of great information that we can all use. And I was just on a call with another investor who was asking for references on our con on a contractor, and I'm able to refer him and give it to him straight and say, Hey, look he's xyz he's, Definitely not expensive.
He's very honest, but the timeline might take a bit too long and he does things his own way. So as long as the investor can match that job with a contractor, we're okay, because no one's perfect. No one's gonna do it under market on time and imperfectly. Or if they are, then you pass me their contacting phone.
Sarah Larbi: If they are, they're probably, it's probably just a certain amount of time until their price go up and they get too busy. Because everyone's gonna be wanting to use them and then all of a sudden quality goes down. The timelines go up, the price goes up and that changes. It's like that.
Jared Henderson: Exactly, you need to match the contractor with the job as best as you can. There's some jobs that, if you want to keep it simple, just paint and floor. You know who you're going to. If it's gonna be a complex duplex duplex conversion, then you might want Ken Beck and Dam on the job.
Sarah Larbi: Absolutely. So what type of deals are you doing? Can you share maybe the financials on your last one purchase price, what you did to it? That kind of stuff.
Jared Henderson: I'm going through a duplex conversion right now in Peterborough. This was a private deal. Now this took a long time to get I started the negotiations in, let's say, January of 2020. So it's a full year ago, and I eventually got to got to a deal. So I purchased the bungalow for 350,000.
What's happened to the market in the last year? Yes, at the time I did get it under market value, but the market has still done its thing. Probably appraised for close to 500 now. Definitely wasn't planning that at the time. It might have been worth low fours but. A great opportunity to do a duplex conversion because it has a rear entrance, it's got a tall ceiling in the basement and large egress windows.
I always recommend to other people, who are looking at these bungalows, that we're in a more competitive market now than ever. These are factors that you should be looking into instead of just the price because. That hard money comes in after you've closed on the property and you're putting it towards renovations.
Every dollar that you can avoid because it's already there, helps you out immensely because you don't get 80, 80% loan to value on those dollars. But long story short, I'll be able to convert it and it'll likely appraise for 575 or 600, to get to a perfect BRRRR. If I get another perfect burn in my life, that'd be fantastic, but I'm not. It's getting tougher and tougher out.
Laurel Simmons: It's amazing though, isn't it? Cuz you, you talked about, the bungalow having the perfect egress windows and it just I remembered how when I first started looking at real estate, it was like, you look, it's almost like you're deer in the headlights, right?
You're looking, oh, that's a nice house. You don't really know what to look for, and I think that's what a lot of people don't realize that you do learn as you go along. Because the first thing I do when I go into a property now is I go into the basement. One of the very first things I look at as the windows is, are they legal windows for egress services?
Jared Henderson: Totally. Because you know what dollars, you know what you spent on before. I know you know where your money went.
Laurel Simmons: Like we're talking tens of thousands of dollars to get those damn windows. The backhoe in and the digging and the foundation and the da, and yeah it, you really do learn about what's important and it's the HVAC and the electrical systems and the plumbing, and it's, who cares what the walls look like? Walls are easy to fix.
Jared Henderson: That's the advantage. And that's all part of the learning process, right? When you first come into a property, The people that are looking at the cosmetic repairs aren't focusing on the important structure of the house, understanding what they want to turn it into and those costs.
I forgot to mention, I guess the real bonus on this one was it came with 200 amps, so there was enough power already to get the second suite. So I don't know what that cost. I'm not an expert in it, but I think it's around five or 10 grand. That's likely all, everything counts. It's important to understand this information before making your offer because you, other people might think that you're nuts offering a bit too much for the house.
Unfortunately in our markets right now, if you're competing on mls, we're looking at 20 to 30 bids per property. That's normal. I was checking out in Peterborough, there's 50 houses for sale. We're all looking at the same house.
Sarah Larbi: There. That's the problem, right? There's a shortage, and I'll tell you, investors are just eager to go out and buy stuff. There's some cottages I've been looking at with 40 offers. 40 offers, and it goes for 300 grand more. They're good deals. Priced as is, but once they start holding offers, and there's tons, so obviously there's the MLS, but there's other places to find deals.
You talked about finding this one off market. What are some of the strategies that you can share with us, other than MLS, how to maybe find different deals out there? And I know it's hard cause there's not a lot of stuff, but what are some suggestions that you might have for somebody looking to find some more deals?
Jared Henderson: I do a lot of networking with vendors in Peterborough. If I'm either using them on my property, I pick up the phone, I get conversations going, I'll speak with my property managers, my contractors what did I have to do the other day? Was it pest removal? We had bedbugs in a unit. So I'm engaging them in conversations, understanding their business, saying, Hey, I've got a few places I'm definitely gonna need you again. By the way, part of my business is, buying these raised bungalows or, and duplexing them or turning them into student rentals.
If you know anyone who's interested in selling privately I don't only buy them myself. I represent partners that are interested in purchasing them. And if you introduce me to someone I'll pay. If I close on it, between that online, k Gigi Facebook, and I also do yellow letters.
I'll do direct mail outs to certain areas that I think have opportunities in them. And you want a lot of fish lines going out, right? You want to cast out as many messages as you can. So you have an influx of potential deals coming in and it's work and it's time, and it's money. But it's worth it as we're in this very competitive market. And it's all part of the game.
Laurel Simmons: That's a technique actually that I haven't heard a lot of people talk about is like direct mail. So I assume you just go, you can post and you select a certain area and on a, based on a certain postal code or postal codes and send out mailing. Is that correct? And how does it, like how successful has that been in like, what's be your return on investment?
Jared Henderson: You will get, there is a high degree of variance there, Laurel. Sometimes you get no calls and you're spending a few thousand dollars and sometimes you get a few. And the secret's out, people know what their house is worth or at least they're, and sometimes they think it's worth more than what it is.
I've been able to engage in a couple of deals that have worked out quite well, but it is time and energy and money, and it's something that you really need to follow up meticulously in order to achieve sustainable results. It's something that you can't just do once, say, ah, it didn't work, and then do it again.
Some of the wholesalers. In Southern Ontario they send tens of thousands, probably a week, and that's in line with their business. My personal goal is to, number one, acquire the property myself if I can and have it in my own name. Number two is if for any reason I can't qualify is to take on a partner, and I would have wholesaling as my option number three.
Okay option number one or number two don't work, so I'll collect a small fee, be a win-win situation, win. I get a fee the seller is able to deal with a hassle-free sale and I'm passing it on to an investor that's hopefully gonna turn it into a great rental.
Sarah Larbi: Absolutely. There's some great tactics and I will say, there's not the same amount of visibility in Canada versus the us. Like in the US you can see who's behind on taxes, who's owned the house for a long time, who's actually an out of town investor. There is so much data that you can cultivate before you send the letters.
Go to people that have letters from the bank saying you're 30 days, 60 days, 90 days past due. There's so many more things that you can do. But in Canada, you've gotta say, I'm gonna go on this route for yellow letters. To mail them out. And you, and essentially that's where all the letters get sent to.
There might be a few people that are behind or that might wanna sell, you don't have the same level of visibility. Almost like you've gotta do it, you've gotta keep doing it, but you have to do other things other than just trying to, send out yellow letters because we don't have any idea of who these people are versus in the US you definitely know.
Jared Henderson: I know Sarah, you're also a bigger pockets fan, right? And so am I. It's fantastic content. And I think if I go back those few years, when I started 2012, 20 13, 20 14, before I started learning about Canadian content with Rob and Sandy McKay. That was how I met my agent, Rob. I started listening to bigger pockets.
There were a few other US podcasts where, yeah, you've got estate, sales courthouse deals, tax liens, and you start learning about them. But I haven't applied any of that knowledge, but it's all back here. It's all in my head now. To me, it seems overwhelming. I'm happy enough, keeping it simple here.
To be honest, I respect that people have their privacy. It's a nicer way of living if not everyone knows about your own personal financial situation. It's, yep, that's true. We want some degree of privacy. So I'm fine with that.
Sarah Larbi: Awesome. So what's next for you? What are your plans for 2021 and I don't know if you're still working or not, but maybe you can share that and then just what your plans are and your goals are for this coming year.
Jared Henderson: Still working. I am a software salesman at Poka. It's manufacturing. We help manufacturers with digital content, and outside of that, it's full-time real estate. I'm currently at 12 properties, looking to get to 20 by the end of this year. I'm currently looking in markets outside of Peterborough simply because, And I believe we're aligned here Sarah, and perhaps Laurel.
I begin with cash flow first because I believe, and I encourage investors to think along the same lines, in order to build a portfolio, you need cash flow because if not, lenders will just cut you off at a certain point and you're not kidding yourself, right? I just, for that reason, I've started branching out to other markets like Windsor and I just lined up a deal in Cornwall in.
Where it's simply so affordable, and I know I'll be able to get $500 a month in cash flow. I'm having trouble doing that in Peterborough and other markets. My goal is to get from 10 to 20 properties by the end of this year and then scale up from there. But it's great that you have this in your right event.
You, you should be writing down your goals. This is the time of year. I think you mentioned this will be out only in June, so it'll be different for our listeners, but right now it's January. And one thing that's really helped me out immensely outside of coaching is part of coaching is write, write down your goals, right?
Write 'em down in the beginning, write 'em down at the end of the day, and you'll really be surprised at the impact it has because they'll be at the forefront of your mind and you have to perform. It's always there. It's not a what if. It doesn't get put aside. It's part of your vision and it's, this isn't woowoo stuff.
It works. So I strongly encourage your listeners to start writing down your goals. If your goal is to buy one property, buy a certain date, write it down, make it a focus. Start creating a plan. Get free qualified. With a great broker, reach out to people in that market and start to understand how to access deals and make things happen.
And they do. But you need to start taking action.
Laurel Simmons: And you're right Jared. As soon as you write it down, then you're making a commitment. You're making a commitment to yourself, and that's like the most important commitment there is. And it's there. You can't ignore it, right? If you just talk about it and you don't think about it.
That it's just out there. As soon as you write it down, it's in your face.
Jared Henderson: No, it's funny. I, and I was like a little kid, I think it was September and I was at seven and I. My goal was 10 by the end of the year. So I remember in the morning, in my head, I was like, 8, 9, 10, 8, 9, 10, 8, 9, 10. And I know I sound like a bit of an idiot saying that, but the truth is I was able to just put it there and start making a lot of offers.
I had to succeed. I had to hit it by the end of December because it was part of the goal. And so you condition to make sure it does happen. And I'm not at that level right now where I'm doing 1, 2, 3, 1, 2, 3, but the idea is, you have the time and it, it really has a big impact on performance when you plan and write down your goals. If not Things tend to slip and you never fail if you never write it down. It was never my goal to begin with. So how did you do it if you couldn't fail? And it's safe. It's safe
Laurel Simmons: mechanism. Yeah. You can do anything you want. It's a wish, it's a dream. Cause you didn't write it down.
So are you thinking about going outside to other provinces like the East Coast for example? Cuz I know there's a lot of stuff going on down there.
Jared Henderson: Yeah I'm interested. I don't have much of a network out there, unfortunately. I've heard great things about New Brunswick and Nova Scotia. Monkton, Fredericton.
I was actually on a call with a guy from Frederickton who got two townhouses the other day. I am interested, but I haven't started diving there. I understand. We're all investors after cash flow and affordability right now. W with the current situation in Covid, there's a race to land.
There's a race to space. We all want it. It's in, it's more desirable. There'll be increased opportunities, I believe, with b, buying large lots of land. So even if the city right now is not gonna approve me either severing a lot or tearing down to build a multi, they will, years from now because intensification is real and it's those who own the larger lots of land will win in the long run, I believe.
Laurel Simmons: I think that also brings up an interesting concept of the fact that people I think now are just so focused on buying another property, and they're not thinking long-term and bigger picture because the reality is that real estate will always be there. How we approach it, what methodologies and techniques we use.
Yes. They come, they go, this is in favor and that's not, and then something else will come along, but it's. Thinking, always keeping an eye both on your goals and what you wanna what you wanna accomplish, and how like the steps you're putting in place to accomplish it, but also keeping in mind that, things you have to be flexible and things do change and that there are many ways to make money in real estate.
Jared Henderson: And to be honest, I'm having fun branching out to other markets. A lot of people think I'm crazy that I'm in Montreal, I'm investing in Peterborough. But the truth. Once you establish and build these relationships with your property managers and contractors, I'm not gonna say it's easy, but it's not that hard.
It's not that hard. So I know, for example, let's say we're talking about Halifax. I know how to start there. If I wanted to, I knew exactly what steps to take at the beginning. I would know how to analyze the cash flow, who to network. And get a lot of information very quickly. On that note, there's no real excuse anymore to not take action in my mind.
Sarah Larbi: Yeah, it's definitely easier to branch out once you've got the experience and the success and the, and some of the downside, were downfalls that you've had early on and you've developed, things to, to make sure that doesn't happen again. For me, it was very similar to you.
I started in Branford and then I branched out when I had more confidence, more experience and you. I am looking at the East coast as well. I'm looking at different options and ultimately if the deal makes sense, the deal makes sense and so a hundred percent I agree with that.
Jared, we can keep talking for many more hours cuz you've got tons of information and I really enjoy our conversations. But the next part of the podcast is our lightning round. So Laurel and I will ask you a series of four questions in total. Everybody gets the same questions. Are you gonna give us the first answer that comes to mind? Are you ready? Let's go.
Laurel Simmons: All right. What is your favorite resource for real estate investing? And it can be anything, book, training, person, event. What's your favorite
Jared Henderson: resource? I really like podcasts. I do read a lot, but I enjoy podcasts. Especially these days. I like getting out and walking and it's just a great type of therapy for me now.
Bigger pockets, this podcast Tom and Nick Card's podcast is great. So many out there that are fantastic. Absolutely.
Sarah Larbi: And it's free information and you can do anything that you want while you're listening to it.
Jared Henderson: And get the awesome right, I don't need to learn about. I don't know, land development, not that I have anything against it.
Sarah, I know you're part of that now, but I can't lose my focus right now, so you can pick the topic that interests you. That's true.
Sarah Larbi: All right. Number three, Jared, what is the one attribute that has made you most successful?
Jared Henderson: I'm an action taker that once I have enough information, I'm able to. And I don't look back.
I think who not how, who's gonna help me and figure it out as I go along.
Laurel Simmons: Good for you. Yeah. Action. That really sums it up. Question four, what do you typically do on a Sunday morning?
Jared Henderson: I used to run. I have mild asthma, so it's rough in the winters actually, but I'm right by a canal. It's fantastic. But I really do enjoy exercising. I run, I swim. I like taking my Sunday as my day off where I'll either get a lot of chapters out of the latest book or do a long run and get a lot of exercise in a nice long walk for an hour or two. Sunday is my reset recharge day, that's for sure.
Sarah Larbi: Awesome. It's always good to have a recharge day. Yeah. That was our lightning round. Jared, thanks for playing. Where can our right club community reach out and know more about you?
Jared Henderson: Awesome. Yeah, so I'm fairly active on Instagram. I like posting what I'm doing and reaching out to other investors.My handle is Jared H 55, so that's a great way to get a hold of me. Also, my email is jaredhatleyfunds.com. If you have any questions about the markets I'm in or any questions at all I'm always happy to talk.
Laurel Simmons: Very cool.
Sarah Larbi: Thank you. Any final last words of.
Jared Henderson: Once you have enough information and everything and 75% of it checks out just by the place, figure it out after.
Sarah Larbi: Awesome. Thanks so much, Jared, for being on the show. It was a pleasure having you on. Thanks so much.
Laurel Simmons: So Sarah, wow, Jared's really he's got a lot of stuff going on that hasn't eaten. It was so interesting to hear him talk about, especially at the beginning, because he didn't, he wasn't successful overnight.
Sarah Larbi: No, and it's one of the things that he did in the beginning, there's probably a lot of people thinking, oh, that's exactly what I'm worried about, is buying something and not having tenants to be able to start paying you your rent and having to carry it. But I'll tell you in a lot of areas, depending on where you are, but especially in Ontario, that is not the problem.
The problem is finding the right tenants that are gonna be there. Not forever actually, but he took a house, he bought it, he had tenants in it. And you know what, sometimes you learn from doing and and I guarantee you he's never done that again. He hasn't, but he's been successful and he looked at how to get out of that.
And I thought it was really quite interesting. But I'll tell you, somebody getting started in real estate investing, that might be very well, their biggest fear is buying something and not being able to rent it out or find.
Laurel Simmons: Yeah, and it's something we always learn more from, I don't wanna say making mistakes. We do learn more from making mistakes, but we also learn a lot from things not going the way we, they, we think they should go. And obviously that was the case for Jared. But in terms of tenants, it's like it doesn't really matter whether it's a good market for finding tenants or a bad market for fighting tenants.
You wanna find good tenants. Regardless. So it's about setting up those processes and systems to find a good tenant.
Sarah Larbi: Absolutely. Guys, if you enjoyed this podcast, again, please leave a rating and review. And Laurel, it's always a pleasure having you on as my co-host and cheers. I don't think we have wine right now, but I know you're a big wine connoisseur. So guys, I hope you enjoy a nice drink and have a great rest of the day.
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