How To Invest In Florida Real Estate in 2022 With Ryan Poole

Do you like researching stocks and real estate? 

I personally love it. I don’t know why and it’s not always narrowly focused research because ever since I got back into Stocks and Stock Hacking, I’ve been looking at world economics even more. 

I’m also reading a bit about the history of money and economic cycles to learn from history as I want to be prepared if history repeats itself. Some may call me a conspiracy theorist or overly anxious, but I like being prepared.

 
 
 
 
 
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Am I always right? Heck no, but I’ll admit when I’m wrong, take responsibility, learn from it and course correct.  But as always, I prefer to be over-prepared rather than under-prepared.

I read something recently that I found particularly disturbing and further fed my protectiveness of my daughter.  As reported in the Globe and Mail, nearly 1 in 3 students in a 2018 survey from my alma mater, Western University, were sexually assaulted, 10% higher than the Ontario University average.

Then yesterday, while driving the kids to a kickboxing class, I explained how many have been touched inappropriately at University. That’s part of the reason the kids are in martial arts 4X per week, to tell bullies, “No, don’t touch me,” and try to get away and tell an adult or teacher. If they can’t get away or find help, give one final warning and then exercise their training.

There are other fundamental problems globally, including one’s ability to retire comfortably. CIBC just published survey results that only 52% of Canadians are confident in their financial security to retire.  Thankfully, that’s our specialty here at iWIN Real Estate. 

Thanks to the most recent run-up, I’ve been having more conversations than ever with clients regarding their imminent early retirement from their day jobs, some have already retired in the last six months, and I have a couple more coming this year.

The market is also dipping, so the timing couldn’t be better for anything looking to get started.

I’m no financial advisor, but I have dozens and dozens of clients who have increased their net worth by millions and millions of dollars by buying, renovating, renting and holding cash-flowing real estate. We’re always looking for more hard-working Canadians to help.

As such, we’re back to in-person for many of our networking and training opportunities. Most are free, and those who subscribe to our email newsletter will be informed when registrations (which tend to fill up quickly), are available. 

To get our emails, simply go to https://www.truthaboutrealestateinvesting.ca/, fill in your name and email on the right side, and you’re good to go!

How To Invest In Florida Real Estate in 2022 With Ryan Poole

On to this week’s show!  

We have Ryan Poole, who’s not your average Florida Realtor with 24 years of experience. 

He’s on the show today to share his experience during the housing bubble and the financial/credit crisis of 2007/08, including buying portfolios of distressed properties for cents on the dollar, how current times are different, what specific investments and who are these Florida buyers are. 

We talk about the local amenities, weather, hurricane preparedness, and foreign buyer financing. That’s right, we Canadians are the evil foreign buyers this time, lol. 

As mentioned, Ryan is not your typical Realtor; he’s the Founder and CEO of a tech startup called Realtrade.io, a marketplace for Realtors and real estate. Kind of like Facebook and Realtor MLS in one. I’ll let Ryan explain it.

Anyways, Ryan’s a good guy, and I learned a ton about investing in Florida from a local 24-year real estate veteran. I hope you do too. 

Please enjoy the show!

 

This episode is brought to you by me! We don’t have sponsors for this show, I only share with you services owned by my wife Cherry and I.  Real estate investing is a staple in my life and allowed me to build wealth and more importantly, achieve financial peace about the future knowing our retirement is taken care of and my kids will be able to afford a home when they grow up.  If you too are interested in my systematic strategy to implement the #1 investment strategy, the same one pretty much all my guests are doing themselves, then go visit www.infinitywealth.ca/events and register for our next FREE Online Training Class.  We will be back in person once legally allowed to do so but for now we are 100% virtual.

No need for you to reinvent the wheel, we have our system down pat. Again that’s  www.infinitywealth.ca/events and register for the FREE Online Training Class.

 

This episode is also brought to you www.stockhackeracademy.ca where everyday real estate investors learn the best practices in stock investing to earn cash flow in about 15-30 mins per day from their mobile phones. After real estate, Stock Hacking is the next best hustle as you’ve heard from many past guests on this show. Among our students last year, 31 trades were shared with them. 30 were profitable for an over 96% success rate. I will be giving free demonstrations online, very similar to the one I gave my kid cousin, a full time musician and he just made 50% return in 2021.  Past of course does not predict the future but if you’d like a free demonstration go to www.stockhackeracademy.ca in the top right, click FREE Demo.  At the demonstration I’ll have special bonuses. We do not advertise publicly for all my favourite listeners and I only have two more demos to give in the next few weeks.

Don’t delay www.stockhackeracademy.ca, what I consider the future of side hustles with real estate so unaffordable for many.

 

We’re hiring!

Just a friendly reminder that we are hiring more investment Realtors who want a full-time challenge to help our clients, regular everyday people, mostly from the GTA, invest in the top investment towns west of the GTA. 

This is for driven folks who want to multiply their current incomes.

APPLY HERE: https://www.infinitywealth.ca/hiring

 

To Listen:

Audio Transcript

Erwin  

Greetings real estate investors and friends. Welcome to another episode The truth about real estate investing show this is Erwin Szeto. Small confession. I really like researching stocks and real estate. I personally love it. I got to the office early and make coffee. And as diving right in this stuff. I don’t know why. And I’m not always narrowly focused actually like to look, ever since I got into stocks and stock hacking. I’ve been looking at the world more in terms of economics, and I’m reading a bit around history of money and economic cycles, which goes back beyond past 300 years. I’m even reading about Chinese history and their economic cycles, because my plan is to learn from history. So should it repeat itself, I will be prepared. And along the way of in the middle of researching muscle taking action. Some may call me a conspiracy theorist, you know, all this talk about resets. It’s not new to me now. Again, some people might call me a conspiracy theorist, or I’m just overly anxious, but I like being prepared. Am I always right? No. But when I’m wrong, I’ll take responsibility. Learn from it, of course correct. But I do prefer to be over prepared. It’s actually benefited my family, my clients quite well. What I read recently, I found particularly disturbing is that only further further feeds my overprotectiveness of my daughter, as reported by Globe and Mail, nearly one in three students in a 2018 survey from my alma mater. So where I went to university, it was called The University of Western Ontario back then now it’s called Western University, I believe. Anyways, when three reported just under one with one and three were reported they were sexually assaulted. And that statistic is 10% higher than the Ontario university average. I’m obviously a bit disappointed. Again, being a productive father of a daughter, my imagination runs.

 

Erwin  

Usain Bolt was a hamster on a hamster wheel. That’s how my That’s how fast my brain runs. When on stuff, I tend to consume information and then I take action from it. Or I completely ignore it because I can’t change everything in the world. But I’ll action and what I can do so yesterday, so the same day, yesterday, while after reading the article, I was driving my kids and myself to kickboxing class, I take kickboxing class as well. I was explaining to them how, how many people have been touched inappropriately at university. And that’s part of the reason why I take my kids to keep martial arts. So I’m explained to them. People University, good number of them are touched inappropriately. And that’s part of the reason why they’re my kids are going into martial arts four times a week. That’s some questions. I tell them if someone bullies them, which include inappropriate touching, I tell them, No, you tell them loudly. No, don’t touch me. Try to get away. Running is the best defence, tell an adult or a teacher that they can’t get away or find help give one final warning, and then to exercise their training. I’m not giving you advice. I’m just what I’m telling my kids. And I fully support whatever repercussions come. My kids are friendly people. They don’t want to hurt people, but they will have to defend themselves. Because I won’t always be there. That’s why they’re doing all this training. There are other real problems in the world, including one’s ability to retire. I was reading an article that was talking about a CIBC they just published results results. And those survey results shared that 52% of Canadians are confident in their financial security to retire only 2%. Only half. So if that’s a problem for any of you out there. Thankfully, that’s our specialty here at i o in real estate, thanks to the most recent run up in prices. I’ve been having more and more conversations with our clients regarding their imminent retirement or they’ve actually already retired, retiring from their day jobs. Some have already retired in the last six months. And I have a couple more coming this week this year. You know, some of them took my advice, some of them were playing to sell. And one of my clients actually nailed the time perfectly. Based on our advice. I was based on the readings that was available out there. My suggestion to her was to sell in early in the year if her plan was to sell in the next year or two. I told her you should sell early in 2022. She did. And then I texted her yesterday, if she were to sell that same house today, that has to be worth about $100,000 less. So my client pocketed an extra 100 100,000 She’s of course very happy, so as to mention so along that same line of thought the market is currently dipping as expected. And the timing can be better for anyone who’s looking to learn DMS and real estate or get started or even just buy the dip and I’m no financial adviser, but I have dozens and dozens of clients who have increased their net worth by millions and millions of dollars buying, renovating, renting and holding cashflow, real estate, cash flowing Real Estate and we’re always looking for more hardworking Canadians to help understand all so that we introduce all our clients to the same people that we work with, to make their investing experience as easy as possible, including property management. So folks can get back to their day job and their families, which is really their priorities. Real estate investing to me is largely a side hustle. And I believe that’s appropriate for most people, all the power to people who want to do it full time. It’s just in reality, that’s a small, very small population. So as such, we’re back to in person for many of our networking and training opportunities, training events, most are free, and those who subscribe to our email newsletter will be informed when registrations available, which they tend to fill up quickly, especially for in person, right, so we can’t have unlimited numbers like virtual to get on our email list. Simply go to www truth about real estate investing.ca, fill in your name and email on the right side of the web on the website. And you’re good to go. Also, you’ll find there on our website in our show notes. So for example of our of our guests, we have our contact their contact information there, and you’ll get them in your email as well. Once we have your email address, please enjoy. onto this week’s show. We have Ryan Poole back with us and who is not your average Florida realtor. He’s got 24 years experience. He’s on the show today to share his experience during the housing bubble crisis. What wasn’t a crisis at the time when the prices just went up like crazy, and then the eventual financial credit crisis of 2000 2008. So he shares his experience about the run up and also during the crash, including when they’re buying portfolios of distressed properties for cents on the dollar. Of course, I asked him, does he see the same thing happening right now? And he’ll share the answer to that he shares also what typical investments are for those and also who aren’t for the buyers beyond Canadians, which make up a certain percent of buyers in Florida, we actually have the majority. So Ryan actually shares his experience and the splits between who’s buying in Florida. We talked about local amenities weather, hurricane preparedness, foreign buyer financing. Can you tell? I’m curious, that’s why I’m asking all these questions.

 

Erwin  

That’s right. Oh, yeah. Again, foreign buyer and financing. Ryan says he’s got access to that you can make introductions. Because now as Canadians we turn the tables we are now the evil foreign buyers this time. Haha. As mentioned, Ryan is not your typical realtor. He’s an owner of a tech startup as well called Real trade.io. Both sorry, that’s the that’s the URL as well, real trade.io which is a marketplace for realtors and real estate. That’s kind of like a combination of Facebook and realtor MLS in one, but it’s owned and operated by Realtors meant for realtors. So it’s a lot more friendly that way. I’ll let Ryan explain it. He’ll explain it better than I will. Anyways, Ryan’s a good guy. And I learned a tonne about investing in Florida from a local 24 year veteran of real estate. I hope you enjoy it just as much as I did. Please enjoy the show. Hey, Ryan.

 

Ryan  

Good. Is that clear? Can you hear me better on this one? I think so. Hopefully stays good. You know, we’re working on this awesome. I don’t know if real trade went through this pretty amazing tech accelerator. There’s this community called 1909 here in South Florida. It’s like an incubator accelerator. And I went through the accelerator and then I actually worked out of the space here. It’s pretty exciting.

 

Erwin  

Oh, I was wondering what the space behind you is, it looks for, ya

 

Ryan  

know, it’s it’s like this, you know, accelerator incubator, a bunch of cool tech companies coming out of it, you know, so let me some really successful ones. There’s some companies here that already have like, you know, 20 to $50 million valuations. So, pretty cool to watch it all happen.

 

Erwin  

Can you show it real trades evaluation is?

 

Ryan  

Well, we’ve we’re working on some investment, but we’ve got it in the millions, you know, we got in the millions valuation right now. So, you know, it’s pretty exciting, you know, with everything that’s going on, but we’re just trying to build it, you know, build it up more, you know, to mean to, you know, take out still

 

Ryan  

started going, I mean, we got a whole different business model than they have. It’s like, which people really are gravitating, especially the agents, you know, because obviously a lot of agents don’t like Zillow, the way that their business model is set up. You know, they use the agents data’s against themselves. They make the agents you know, they just work hard to get those listings, take those photos, get the property for sale, and Zillow takes that data then then they make the agents bet against one another for the leads off their own listing.

 

Erwin  

Zillow is not big here, but I see like the Instagram social media posts where you can tell agents don’t like them.

 

Ryan  

Yeah, and while there well the worst part is like Zillow is now like becoming like a broker. So they’re literally like starting to cannibalise. They’re basically content creators, which are the agents, right, which are their listing agents. So it’s like, yeah, it’s nuts.

 

Erwin  

It’s the thing that I’ve seen in many businesses, for example, Costco where I shop a lot, you know, I see the Haagen Dazs ice cream bar for like, you know, 10 bucks, whatever it is. And then you see like the Kirkland ice cream bars for like six bucks. Right, exactly. And that’s where it’s intentional. Oh,

 

Ryan  

no, yeah, no, of course it is. I mean, they’re, you know, they’re over here. There’s people there I buy our programme, you know, basically blew up. But you know, they’re they’re trying to basically become the whole thing, right? Broker, they’re the title company, the mortgage company, they basically try to take over everything which you’re in real estate, real estate’s very local, you need that local knowledge boots on the ground, right to help facilitate the sale. So yeah, and that’s what we do real tribe, we really concentrate on the local agents and the local service providers, you know, allow them a chance to network with one another, you know, help facilitate the sale.

 

Erwin  

Yeah, so like a real estate commercial. They’re selling mortgages, they said entirely, it’s so it’s such a so easy, it’s entirely online. And I’m like, if I’m a first time homebuyer or a first time real estate investor, I’m probably pretty nervous. And I can use someone who knows what they’re talking about on the side of the conversation. Buttons and feel confident in my decisions.

 

Ryan  

Exactly. No, you do you need to have a pro right? Especially like the first couple times, like you said, so it’s still it’s still when you go to sell a home. I mean, you know, you didn’t you know, Miss value an asset or you do something wrong. I mean, it could cost you 10s of 1000s, or not hundreds of 1000s of dollars, you know, so it’s crazy. You definitely have a pro on your side for sure.

 

Erwin  

Yeah, we won’t get into that. There’s other things more interesting. So right, right. And when I asked you to come back on the show was twofold. You’re a fan of cryptocurrency, we’ll get into that later, we will get to that stuff. But before we were recording, I mentioned how there’s a whole bunch Canadians who are looking to diversify by vacation property somewhere warmer than Canada, because it is cold. Whatever people say it is colder than Florida. They don’t think anyone can. It’s cooler than Florida. I don’t think anyone can argue with me on that. some neat things that I like about Florida specifically for is, it seems like Miami may become like the Bitcoin capital of the world, potentially, maybe at least for America, I don’t know, you tell me better, because you’re least American, I don’t really know. I’m just a Canadian. But I just find it weird that I see a lot of Canadians who don’t have much more experience in real estate in Florida, by law in the US. And now they’re touting themselves as experts. So I thought I’d reach out to someone who actually, you know, have spent more than 18 months in Florida to tell me what it’s like to invest in Florida.

 

Ryan  

Yeah, just so you know, you know, my, over my 24 year career in real estate, you know, when the market crashed last time, you know, in Oh, eight, you know, I started a boutique asset management company called rsis. On management, where we basically help hedge funds and, you know, basically acquire assets from regional banks, they were buying non performing loans and distressed assets. So far as the investment side. Yeah, I’ve seen it all really helped these funds that make some of the biggest money I’ve ever seen being made in real estate was from like, oh, nine to 12 or 13. credible? Do they were buying these loans? Like they were buying distressed, distressed debt, you know, they’re buying non performing loans for like, 10 cents on the dollar, to do keep some of these for yourself? Yeah, I was able bobbum was the way that these things were set up, was like to even bid on those loan pools from these regional banks, like you needed to have like, you know, proof of funds of like, 20 to $50 for the bid on them. And they wouldn’t they would bid them all in one portfolio. Like one tranche. Do you know what I mean? Now that the cool thing about the fund that I had, like they would buy them, and then they spin them off, obviously, you know, ones and twos, but their goal is to maximise the returns. So they would usually they would see the property, you know, get the property back through deed lieu of foreclosure, if it was a note, they just go to the borrowers and go, Hey, you know, we’ll make this whole thing disappear. Like it never happened, you’re in foreclosure you’ll have on you know, you owe more than your house is worth, you know, worth half of what you bought it for, will forgive this whole debt and things like this purchase never happened. You just signed over the property to us. And that’s what they did.

 

Erwin  

The parallels between the run up now compared to Oh, 708. Yeah, so

 

Ryan  

I went through that whole I went through all of that, right. So no, it’s totally different, at least here in Florida. I don’t know how it is in other markets, obviously. But you know, here in Florida, the buyers that are buying here, I majority of them are cash. Right. So they have no mortgages. I mean, I mean, seriously,

 

Erwin  

the opposite of what it was before then. Got property?

 

Ryan  

Exactly. It was like I remember vividly, like, like I said about, oh, 708 You know, when teachers school teachers in Florida, were buying second investment properties, not their first their second one, you know, and then I was like, with no money down. No money down stated loans. That’s when I knew I was like, Man, this is crazy. And the developers at that time, they were giving cash back incentives. So the people would actually buy the house make money when they bought the house. Put no money down the you know, Were an interest only arm loan, negative and loan. And they were like, you know, cashflow positive. But of course, everything’s getting paid down to the backside of the house. The property. I was like, Man, this, this is crazy. I don’t know how long this can last literally, like, a few months later, but four months later, right, the peak of the, you know, the craziness is one that was that the negative amlaw. Like, I think that was like literally like the crater like you know the grenade that blew everything

 

Erwin  

  1. So I can explain negatively I’m alone. So basically,

Ryan  

you’re just paying, you’re going negative every single month. So your pain was set up a negative amortisation loan that like you never paid, the principal got added, kept increasing over the length of the loan. But you know, people were betting, so your payments were very, very low. But people were betting that the payments were like hardly anything, actually, then people were just betting that you know that the market was going to continue to go up, they could rent it out for six months to a year and have a good cash flow. And then to sell it in a year, right and then pay off their loan and still make this money. That to me was like, like I said, the grenade pretty much blew up the

 

Erwin  

market here. It’s like the investment on multiple levels of steroids. Yeah.

 

Ryan  

Yeah. And wouldn’t wouldn’t do and like I said, like doing the loan with no money down. So it’s just like, you know, and then they were buying

 

Erwin  

zero skin in the game. No skin in the game. cost you nothing.

 

Ryan  

The developer was going. Okay, so you’re buying this, this condo for $250,000? Right? With no money down. Okay, great. You’re gonna rent it out for 1500 $2,000 a month great. Your, your negative and loan is only, like 500 600 bucks. Your taxes are this, you’re gonna cashflow this, and then the developer would come in and go, hey, you need to furnish your place, right? Like you gotta you want to rent it out furnished, that’s where you’re gonna make the most, and then they would give them what’s called, you know, a decorator credit. And they’ve given $40,000 at closing back, dude, see them saying they would give him $40,000 Back at closing to decorate their unit to decorate their unit.

 

Erwin  

So everyone knew this was coming in short the market, right?

 

Ryan  

Yeah, I mean, that’s funny, every but people were piling on. I mean, I remember guys, like, I mean, I watched guys like five, five or six units like this, right? I mean, it was, it was crazy. That was at the very like, at the very peak that was like at the very peak, like that last six months to the developer started like, because they wanted to move all that inventory, right? They probably they probably saw it common. They probably saw something common. They’re like, we need to spin these units out.

 

Erwin  

Because someone’s buying this debt. So then what happened to these investors? Like what happened to the gentleman who had five, six units?

 

Ryan  

Yeah, so this is exactly what happens. The hedge fund guys in case so ironically, the guys that basically originated those loans, right? These guys were like Bear Stearns, guys, and, you know, those kind of guys that came up with these crafty way

 

Erwin  

we can bash them since they’re gone. So

 

Ryan  

they are they are gone, right? They’re the ones that like, created these instruments for them to do those loans. Ironically, when the market crashed those guys a lot of laughter Bear Stearns blew up, they went and then formed these other vulture funds that went and bought back the loan lenders at 10 cents on the dollar.

 

Erwin  

were way up and they made money on the way down. Yep.

 

Ryan  

They made it both ways. I know. It’s crazy. And

 

Erwin  

planning from the beginning.

 

Ryan  

was like, yeah, no, believe me, I got to see the inner workings of real estate just through this whole process. So like, you know, I’m trying to like learn from what I can hear, but I have my own, like reasons what I think the real estate market hears happening. And, you know, obviously, Florida is very hot, people want to move here. But there’s, there’s inflation happening, which is getting pushed into assets too. And it’s not so much like, oh, the prices of real estate are going up so much too. It’s like the price of the US dollar, you know, the value of the US dollar is coming down. And I mean, that’s happening too, as well.

 

Erwin  

So Serena, and some people don’t understand what happened after like, for example, so say someone had five, six properties, because, you know, ignorant Canadian here, there’s something about the state, you can just hand back your keys or like the situation you gave, they just walked away from their property. Like yeah, how was their credit affected?

 

Ryan  

See, that was the good thing is like the crazy thing is like these all these units needed to get moved out, right. So that’s why they got you know, they got gold at 10 cents on the dollar to these hedge funds, or we’re just buying up at huge bulk and that hedge funds didn’t want to foreclose on him. You know, they didn’t want to foreclose on the units because it costs more monies and attorneys fees to close to foreclose on them. So this is how these units got worked through. They would go to the borrowers and just be like, listen, just sign over the property to us. You know what I mean? Just sign it up. We won’t foreclose on you. You’ll won’t have any foreclosure on your record. You will have no deficiency judgement and just They literally like this purchase didn’t happen. Because, you know, they’re let’s do that 250 contest and the people have 250 you’re on the hook for 250,000, the condo is now worth 100 grand, the hedge funds bought that that $250,000 loan for 25 grand. So they’re still got like, they’re tripling their money, they’re like, you know, they’re tripling the money. So they’re going, okay, just sign it over to us. Matter of fact, and this is this is literally what happened most deals because I was doing this was they would go to the bar and go, Okay, we’re gonna give you five grand for you to sign over the property give you cash for keys, and they would give them five grand. So the borrower now like, they get five grand, and they hand over the property to the hedge fund, they have no foreclosure, the credits not crushed. And you know, they’ve made a mistake, right. And now the hedge funds now got the property now. So they brought they paid 25 into another into it for 30. Right, it’s worth let’s say it’s worth 100 They would go in putting some paint and carpet in the unit, right? Put it on the market for 100 grand. And now they’re, you know, like I said, like tripling their money today. Let’s see two deaths. What happened, man, that’s how everything got worked through down here in Florida, I think it was it was like the foreclosure capital, if you remember, oh, eight, or nine or 10

 

Erwin  

plots of places in the States.

 

Ryan  

But it was like, No, South Florida was a big one because a lot of people bought him as investment property. Yeah, that was investment property. So this time around, it’s not like that, like, you know, this time around, these people are like paying cash.

 

Erwin  

Who are these people, these Americans, these Canadians, these Mexican law,

 

Ryan  

a lot of people from the northeast, so you have a lot of people from New York, New Jersey, which you know, their real estate prices have done well. And they’re just like, you see, you’re seeing this, this mass migration are going, okay. My house in New York’s gone up in value right now I have a hump house, you know, I’m sitting on a million dollars in equity on this house in New Jersey. And, you know, we want to move to Florida because now you know, Florida has no state income tax. There was some really big political reasons, obviously, with DeSantis, you know, being never shutting down because of COVID, right, and all these things that were in place. And you have, so they’re selling the real estate up there and buying it down here. Oh, they’re moving. They’re moving. They’re moving their whole businesses down here. So just so you know, the last two years, the amount of businesses that have moved to South Florida has never been higher. I mean, literally, as I speak here, I’m looking over here at a class A office building, Goldman Sachs just took a whole floor of it. That fund that I told you that I worked for back in 2009. Two years ago, they took their whole fund from Greenwich, Connecticut, and moved it down here to West Palm Beach. So you’re you’re having a lot of big, you know, businesses now headquarters in south in Florida, instals. For asbestos, specifically, why? Because we don’t have any state income tax, the weather’s nicer, right. And they’re pro business, right? It’s really pro business state as far especially with DeSantis in the political arena down here. So they’re just like, they see a lot less risk here. And I mean, just so you know, like, I’ve had clients move down from the Northeast, and they’ve told me like, Ryan, me, headquartered in my business here. Now moving into Florida, the money that I’m saving from my past state, my state, Connecticut, or New Jersey, the income tax that I’m saving literally pays for my whole cost of living here in Florida. Like, what do you mean, they’re like, yeah, the money I’m saving literally, like, I’m living for free in Florida. So it’s like a no brainer for him.

 

Erwin  

Right? All these boys been like that, or sorry, the least the tax environments, always man attack

 

Ryan  

the tax environments, always been there. But I think there was just a political, you know, environment, too, that really accelerated it and just, you know, opened the eyes to a lot of people, and just, you know, just like anything else, once, you know, you’re working at a company, and you’re seeing, you know, the other company moved to Florida, and their, you know, their employees are happier, and they’re making great money. And it’s like, why am I sitting here, up here in New Jersey paying these huge taxes, you know, in doing that, so, that I think, was a big reason as

 

Erwin  

I hope our government listens to this podcast, and they understand what happens when you overburden businesses, or vilify them.

 

Ryan  

I mean, you look like something’s people in New York, New York, like we had so many people from New York City moved out, and hey, you know, another thing too, that’s, that’s really changed of like, why these businesses should move to Florida is, you know, say what you want, but COVID really accelerated, you know, like we’re doing now and it’s zum zum generation, right, where you can work from anywhere, right? So if you’re a business and most employees aren’t coming to an office anyway, like why the heck would you live in haven’t headquartered in Jersey, you know, or New York or wherever, you know, where you’re paying these taxes. So it’s just like, this remote work culture is accelerated course, all those remote workers that are sitting there all over the United States get on well do I want to live in Wisconsin and work remotely or should I live here in Florida where I could still buy a condo you know, for 300 grand and be less than a mile from the beach? If you don’t, I can do my Zoom meetings in my condo, a mile from the beach and then I can go bike to the beach or walk to the beach after my call.

 

Erwin  

Alright, so Ryan, you probably picked up people’s interests. Tell us more about the 300,000 Are

 

Ryan  

you guys I mean, I’m still very very bullish. Like I call this to like, I really watched the single family home market like last year just really accelerated. I was watching the condo market. I’m like, Wow, it’s so undervalued did the condo market has gone up, but there’s still you can buy condos here, like I said, within a mile or two of the beach, and still get a decent condo for three, four or 500 grand, you know, and have a place here in South Florida. You know, you can rent it out, you know, some of these places down here that I’ve helped with investors over the years, you can rent out monthly. So you could be down here for a couple of months and rent it out the rest of the time. And

 

Erwin  

so Ryan, let me just pause you there. Let’s, let’s restart the conversation. So we met a good friend of mine, a friend of yours to introduce to us because you helped them buy a Canadian. My friend Charles, Canadian, you helped him as his family purchased property in Florida. So So when when when you talk to a Canadian debate tell you, you tell them that

 

Ryan  

no, I’m from South East Florida. There’s a lot of reasons. There are a number of different reasons why, you know, I’m bullish, I’m really bullish on you know, Palm Beach County. Miami is a whole different world. I always tell people think of Miami, literally, it’s a different state. That was almost a different country. It’s a whole different animal down there. Fort Lauderdale.

 

Erwin  

And if you just spend a day there and versus like Fort Lauderdale, it’s not the same place.

 

Ryan  

It is it is and then, you know, and then Fort Lauderdale is very busy. But then you have beautiful West Palm Beach, which is, you know, almost like, compared to like if Miami was New York City, you know, Palm Beach, West Palm Beach is like the Greenwich Connecticut, right. This is where all the wealth is, you know, obviously Palm Beach Island, everybody knows that. That’s where Donald Trump lives. And you know, 33% of the nation’s wealth is a piece of property there. But the cool thing is here, what’s awesome about West Palm, I think it’s a great investment Palm Beach County, is you now have the bright line, okay, which you can take to Miami, which is a high speed train less than an hour, okay, you can be Miami. And number two, it’s just not as populated. So you have, you know, bigger yards, bigger condos, get more bang for your buck, if you will, on buying real estate here versus you know, Fort Lauderdale, Miami, you just it just there’s just more space, you know, you’re not in a parking lot, where everything’s like super close, there’s just more space so you can actually, you know, have a better quality of life. In West Palm weathers the same in West Palm area as it is in Fort Lauderdale in Miami. And then it’s just you know, to me, it’s just a great environment. The other big thing is I’m a big outdoorsman, as you know are one big fisherman. The fish is incredible West Palm it’s actually the closest place kind of on the United States where the Gulf Stream comes to shore. So if you’re an offshore fisherman like catching like, tuna, wahoo, sailfish, Marlin. It’s like, well, this is the top spot for it to be. And then of course, if you have a boat and you’d like to go in and big adventures, the Bahamas are only two hours away. So I like literally take my boat over there on the weekends. go diving fishing in the Bahamas, you know, it’s got all those really nice aspects here of West Palm Beach versus Miami or Fort Lauderdale.

 

Erwin  

Okay, so how about some of the most common Canadian questions, so feel free to throw some in? Because I’m sure hurricanes and financing come up often?

 

Ryan  

Yeah, yeah, people are, you know, obviously Canadians just like anything, you know, say my parents, I’m originally from Minnesota, and just so you know, but I’ve been down here for over like, 25 years, but yeah, the hurricanes, you know, they’re there, they come to Florida, they’ve been, you know, I’ve been through a couple of them. The good thing is, you know, the technology of where it was even five or 10 years ago has come so far, especially the quality of building building materials, they now build these homes, and you can put them in if they don’t have called hurricane impact windows, which are like these high tensile strength windows that are really great. They’re also very energy efficient, too. So that’s big. And of course the technology they know where they’re coming right and a lot more accurate, they know where they’re gonna hit now better than ever, when they’re coming. So those kinds of things are great to know for for hurricanes, you know, as far as like the financial aspects, the finances down here, Florida. I mean, it is you know, for some people that concern you know, as far as like the regulations I mean, would be deregulation here for some people might be concerned but I don’t see it as like a quality of life issue here. I see some really benefits to what they’ve done so far. And that’s just someone that’s pretty middle thrown out of politics, but you know, it’s it’s pretty good there.

 

Erwin  

What are your paying customers doing for for mortgages? Yeah, so

 

Ryan  

I’ve actually had a great lender here that does foreign nationals here out of Miami, they’ve done tonnes

 

Erwin  

so here we’re being called foreign nationals. Foreign nationals are used to pay other people that brush?

 

Ryan  

Exactly. You know, I mean, obviously, you have to put more money down right on the loan, you know, is to a foreign national loan, you might have to put, you know, 30% 30 Yeah, 30% down. And you know, there might be a little bit more you no paperwork involved and stuff like that. But I’ve gotten deals done. I mean, I’ve just just did a foreign national deal with a buyer from Australia. They’re coming to the comment here in South Florida. It’s crazy. Like, it is. It is. Yeah. Now South Florida is, I mean, used to be never to we never got buyers from California, like hardly ever like, but now there’s buyers there people moving here from California. Now we’re getting buyers from California, obviously, Northeast is always that, but we’ve always had Canadian buyers, you know, but now we’re getting people even from the West Coast of the United States by

 

Erwin  

and then rates pot rate wise, what are you seeing what kind of range?

 

Ryan  

Yeah, I mean, you’re gonna be like, in that, you know, for too low fives range. It’s not too bad. Yeah,

 

Erwin  

that’s pretty good. I thought this is a lot better than I thought it would be.

 

Ryan  

I know, I just went through this with, you know, another buyer literally, like just now. So we had none, the rates are pretty good, meaning, you know, having to put 30% down, you know,

 

Erwin  

I have to do my best some of my investment properties, because the bank doesn’t like me. Yeah. And people can do this just personally, or they have to, like start opening a company or something like that, or?

 

Ryan  

Yeah, no, they, it depends. Some lenders, you can do it, dude, personally, some, they want you to open up like an LLC, right? And purchase it that way as well. So it kind of depends.

 

Erwin  

Cool. This isn’t so bad. That’s the nice thing I’d like, you know, to be objective. Like I had this perception. I thought almost everyone had to buy cash unless you’re willing to do like, buy a company, for example. And like, a lot of us kind of wait, like, like, way too much work, real company, and like, make money in it. And then you can qualify for a mortgage. But this doesn’t sound so bad.

 

Ryan  

Yeah, no, it is. I mean, that means still you’re putting 30% down. So the risk for the lender, you know, if you’re

 

Erwin  

right understanding are like a lot of our investment properties are start over 700,000 and then 30%. Down. So we’ve talked about your undergrad condo, I know it’s US dollars. But yeah, that’s I

 

Ryan  

mean, it’s a great opportunity, even like, you know, like our mutual friend that they bought that property, I’d actually just looked at the values on there, they’ve done really well, since they bought it like two years ago, like the price is trumped up very considerably. So I’m sure they’re happy with that. So then usually, you know, if you’re if you’re financing 70%, with the rents the way they are here, like let’s say you didn’t buy like the three or $400,000 condo, you’d still be in a positive cash flow situation. Right. But then of course, your big plays the equity play right. bullish on Florida, you’re bullish on people moving inflation. That’s what I said. I mean, I just read, I don’t know, you can concur with me on this. But it’s like they figure might be like 7%, this year seven or 8%? Inflation? Probably who knows? That’s what they’re saying.

 

Erwin  

We need that terrible war to end in Eastern Europe. You mentioned rents. So like an example $300,000 condo, what would that rent for?

 

Ryan  

Yeah, I mean, if you can do the short term rental, remember, not all condos, can you do the shorter term monthly rentals, but, you know, you’re looking to you could get like, you know, two to $3,000 a month, you know, to rent those out at a short term rental basis. 2020 500 a month, you know, 2000 annual basis. It depends sometimes in the winter, obviously, when you’re doing the short term, it’s even more like I know, here in downtown West Palm Beach to two condos, you know, during the winter furnished, obviously, you know, they’re going as high as, you know, five or $6,000 a month. So it really depends exactly what pocket you’re, you know, if you furnish it or you know, what your strategy is?

 

Erwin  

What about just a vanilla long term rental, unfurnished?

 

Ryan  

Yeah, to to kinda like a $300,000 condo, I mean, you can easily get, you know, to 2020 500 a month. You know, I mean, if it’s decent inside, you know, it has tile floors, stainless steel appliances, that kind of stuff.

 

Erwin  

What are your clients mostly doing? Like, how would you split up what they’re doing? How many are buying for personal or recreational use and how many buying for for investment purposes?

 

Ryan  

There’s a lot of people that are buying here to live obviously, you know, I would probably say 70% to live and then another 30% are investors, you know, that are looking, you know, but they’re like their long term investment plays like I just saw one last week the condo I’ll use this. They’re from New Jersey. You know, this guy’s you know, in his late 50s. Him and his wife in his late 50s They bought a condo on the beach and Jensen Beach, which is great locations just north of Palm Beach County here. Great rental, that they’re getting So on the beach, they bought it. They bought it for like 450,000 you can rent it monthly there during the season furnished rental about 5500 a month off season about 3500 a month, right? That’s what they got. And they’re like, Brian, we’re going to buy this. We’re going to rent it out here for the next about three or four years, get a good return. And then, you know, when I retire, we got a place to go to down in Florida whenever we want. And, you know, I could you know, and I can use it. So that’s happening a lot.

 

Erwin  

Yeah, my wife and I’ve been talking we should hedge and half a property outside this country. Yeah.

 

Ryan  

Well, I’m here to help you, you know, I can definitely help you. I’ve been nice thing. You know, we haven’t even got into my, you know, as you know, I’ve been an agent for a long time. That’s what I’ve done for years and years years. But I started a tech company that we launched, obviously, last summer about called Real trade, which is a social media platform and marketplace for real estate. So it’s just got some amazing features. I tell everybody, it’s a marketplace. So think of it like Zillow, okay, mixed with LinkedIn, but just for real estate. So

 

Erwin  

sorry, Ryan, just for people. Zillow doesn’t have much of a presence here. Yet to explain to a Canadian what Zillow was like maybe another analogy, is it like Amazon, I don’t even know. Yeah, it

 

Ryan  

would be like Zillow, Zillow, or what we are is we’re just an online marketplace for real estate. So we basically in United States, I’m not sure how it works in Canada, but we have these MLS bores that basically agents join, and then they pick their listings and put them on to these MLS boards, which allows another agent to see him that they’re for sale. Other agents could see but then they also take that data and they push it out to these large portals, which are like Zillow, that then take the that data and aggregate it for a place for the consumer to see. So it’s like the consumer, you know, the concern, consumer facing data. So that’s, in essence, what real trade is, it’s like a consumer facing data, where the they can see all the properties for selling in South Florida, like we have all South Florida covered. You know, real trade does. And yeah, so we have a lot of people using it to search for sell the nice The cool thing about about real trade that’s different than like these other online marketplaces like Zillow is, seller can do a lot of good due diligence on not only on the property to getting all the data there directly from the MLS from the source, but they can actually contact the listing agent directly. So they’re not like sold as a lead on Zillow. Got it, I know it’s a different system can but they can go directly to the listing agent get questions answered, they can still use a buyer’s agent, you know, to help them buy but like if they have quick questions themselves, they can, they can get them answered. And then also we have a social aspect where they can actually see on a social feed deals being posted, like coming soon that aren’t even on them quite on the market yet that the agents are sharing to the real trade market. And they can network with other agents. And actually, we’re building an arm right now as we speak service providers. So if they need a good lender, they need a good title company or an inspector, you know, all these types of people to that they can contact those people directly to Unreal trade as well. That’s handy. Yeah, Mark points, things like find good agents, you know, agents that are active right, that you feel comfortable with. You can research them on their, like LinkedIn, you know, but for, you know, for real estate, so we’re getting a lot of traction here. We have hundreds of over 560 agents from 80 Different brokerages on there now. And then we have 1000s of buyers and sellers using the platform.

 

Erwin  

And then there’s blockchain involvement. Well,

 

Ryan  

here’s what we have. So let me tell you this, the blockchain this Believe me, I’m very bullish on blockchain, too. I love talking about it. We have a point system. Before we had our own token on the 1.0 version, we took so far that lived on the blockchain. And now we have what’s called a point system, where basically we track the agents if they add value to the real trade network, which was posting their content, inviting referrals to the network, they gain points, the more points that they have, the more exposure they get on the platform. So we have like suggested pros that properties go up into the, you know, when people are searching for properties or properties go higher up in the results, you know, that kind of stuff. So, you know, the essence, you know, blockchain and what I really liked about it is the way that basically it’s a decentralised system, you know, that incentivize the network as it grows, right to run a transaction, right? That’s the big thing about Bitcoin, a lot of others. So the things they have these miners that are getting rewarded for running the network, right, and doing these transactions, and we have similar that too. We reward the network, the more they help add value to network and make it grow. And as some people’s eyes glassed over when they start hearing about blockchain and how everything works, but it’s pretty exciting, really the possibilities

 

Erwin  

of it. You know, for someone I deal with an old city so for example, if I needed a document pulled on my property, someone literally has to go into like the bowels of the building. To pull off, pull a paper file away. So people who don’t know how it is, maybe they would glaze over. For me it’s worth what why are we there already? Why isn’t this all digitally based?

 

Ryan  

Yeah, exactly. No.

 

Erwin  

I’d be excited for any sort of advancement.

 

Ryan  

I mean, Florida, like we have a good, you know, system here. But then we just so you know, there’s like a startup here, which I actually know the founder. Well, Talia, she started Proppy. And they just sold two properties here in South Florida on NFT tokens.

 

Erwin  

Any tokens? One token,

 

Ryan  

one token, I can I can get in the weeds how this works. Actually, I researched because I’m very, you know, obviously interested. Basically, there’s an LLC that owns the property. Okay. And that’s recorded in the in the county records, right in the state records that owns it. But basically, what they did is they allowed the LLC that owns the property to be put on an NF T tokens. So you’re actually just buying the LLC, you’re not actually buying the property. But that LLC then is transferred ownership to you through the NFT token.

 

Erwin  

Interesting. So why did this individual do it that way?

 

Ryan  

I think it’s like right now, it’s so nice, since I think it’s more like a marketing gimmick, but they they just did two of them. So there’s their two for two, there’s like the only place and I think the world that’s doing it, and it’s happening in Florida. So yeah, I mean, obviously real trade, you know, idea of one time we want to obviously be a marketplace and help facilitate

 

Erwin  

FTEs or any sort of any kind of real estate where there’s no tokenize real estate,

 

Ryan  

fractionalized, tokenize real estate and if T tokens regular real estate, you know, just like traditional regular regular still gonna play a big role.

 

Erwin  

I love the idea of like a fractionalized ownership, and we can use tokens to identify ownership. It has to happen fractionalized ownership of real estate has to happen. Oh, it’s

 

Ryan  

happening. No, it is happening. There’s actually even like, basically, you can take your tokens I just there’s a new startup here in South Florida is working on this and actually collateralize your tokens and borrow against your tokens. That’s a whole nother game. Thanks.

 

Erwin  

Time right. People glazed over like

 

Ryan  

that’s the thing about for this, you know, this is why I’m so bullish guys at Ford. There’s so much innovation happening here. There’s so much exciting things in real estate that are happening here. Obviously people love the weather and all these things. So if I’m if I was a Canadian looking down here at Florida, I think it would be you know, I would be like wow, what a great place to own a second home just joy but much less than investment. That’s great.

 

Erwin  

Before we were recording, for example, the Bitcoin Conference was in Miami in Miami. I don’t know it just keeps coming up and also partly because the the mayor of Miami is such a Bitcoin adopt early adopter, I believe correct me if I’m wrong, I believe the city of Miami already has Bitcoin on their on their balance sheet. Yep. And they’re accepting it as a currency so you can pay your taxes I believe in Bitcoin. And I’m not sure if that exists anywhere else and anywhere. Yeah. So it basically Florida is open for business for cryptocurrency versus, you know, many politicians, many governments, you know, China for example, they they banned a lot of miband miners, and any sort of businesses that are surrounded that whose underlying businesses cryptocurrency and versus like us and especially, especially, especially like Nevada and Florida have been like, we’ll take you all Yeah, yeah. And so So then, you know, you told me because you’re closer to this and then even like Ray Dalio for example said like the greatest threat to cryptocurrency is governments banning it. But then you see like the US government like here come all you all you miners come here, and I Okay, but they turn about and kick them out now.

 

Ryan  

Yeah. Well, that’s to me your what will happen? I mean, this is because this United States, right, so we have the states have some jurisdiction, right of what we can individually so the these other states or the US, you know, says oh, you can’t do that one state I’ll pop up and go yeah, you can. Right. And then everybody will just gravitate towards that state. It look what happened with the COVID. Right. Everybody was like shutting down and everybody’s like, you know, hurting businesses and There comes one state, which gotta give it to DeSantis. He put put himself on the line bucked the trend, but look what a difference it made it down here in Florida. Just there was this huge discovery of all these businesses now just flocking and it just like this like a faucet, right if people wanting to come down here. So I think the same thing point being the same thing would happen if the government shut down Bitcoin there’d be a couple states that be like now, Florida’s very pro crypto same with Wyoming if you do some regulate look into Wyoming.

 

Erwin  

That’s fascinating because there’s a couple of precedents come to mind. Like for example, like for example, cannabis is legal in several states, but federally, it’s not legal. But yeah, unions, for example, you have certain states in the US where unions are not legal. You may not you may not open a union in certain states. Hence, that’s where businesses tend to flock. Exactly. Right. I don’t know if Keynes and again, no politician listens to this podcast, but that’s a reality. If a business unionised is in Canada, that business owner may just relocate to a right to work state in the US exactly like that people need to understand like, you know, make your decision in a wider context zoom out who exactly and decision on that don’t just like, hey, you know, with fight for all rights for their employees, like, but then the next month, they’re all out of jobs? I mean, like, zoom out, look at the bigger picture negotiate from there rather than Yeah,

 

Ryan  

it is. It’s a perfect example, you have to look at look at all different angles. And this political angle is a big one. I actually, honestly until this last couple years that I realised like how much political, you know, arena can have on business. I mean, just incredible. You know, I mean, you know, how much he influenced into, you know, and I honestly didn’t agree with the DeSantis some of his viewpoints, but after having seen and gone through it and seeing what happened here to Florida. Wow. You know, it does make a difference.

 

Erwin  

No one’s perfect. I think, first off, everyone needs to appreciate that. Nobody’s perfect. Nobody gets it. 100%, right.

 

Ryan  

I know. But I’m a I’m a big believer, like, let the market like let the free market dictate as much as we can. discovery of what works and what doesn’t work. As long as you’re not stifling the free market and like businesses, these solutions will come into play. Like I said, I that’s why I think I’ve just so big on Florida, like we’re big on free markets, and we’re big on innovation. We’re like, some good things. I mean, I have a tech company. I’m headquartered in Florida, I went through this accelerator, literally the whole reason my business got built, I went through this accelerator that literally is funded by the City of West Palm Beach. Like they’re a big sponsor for 1909, which is just accelerator incubator here, which allows me as an entrepreneur to come in here and have really affordable space, right to be an entrepreneur and not have to rent rent real expensive office space, and, you know, things like that, like I that’s what I’m trying to tell people like it’s things like that, that’s where people can, you know, it makes a big difference. And that innovation,

 

Erwin  

and that’s a big problem here in Canada is our real estate’s way too expensive if we’re just going to scare away investment. Yeah. And people just think investment means dollars, like no, will scare away people, they can’t afford to live here. Yep. Right. Those

 

Ryan  

entrepreneurs, like those entrepreneurs are so important because they’re the ones are gonna be starting new, best fresh business coming from different angles. Like there’s so many crypto businesses down here that are starting that are so exciting. Like I had a 1.0 version, like I said, But I’m looking at all these other ones. I mean, it’s just, it’s incredible. What’s happening, just take a couple of one or two, you know, that could be the next Microsoft or the next, you know, Apple or whoever it is, you know, I mean, it’s, that’s what’s exciting.

 

Erwin  

And then okay, I don’t know what are the details? What does the Canadians ask you when they first get in touch with you? What else what am I missing? What else do they ask you?

 

Ryan  

Yeah, that’d be they want to you know, a lot of them want to like you know, especially they want to come here and you know, they want to know is it safe in Florida

 

Erwin  

is a crime like the crime like that’s the crime like

 

Ryan  

that’s another thing too I like West Palm Beach is obviously Miami and as we know is different. There’s just more people there there’s like a you know, different you know, like I said almost like a different country so the crime rate is higher there obviously, than Fort Lauderdale and Fort Lauderdale is higher than West Palm, you know, West Palm has a lower if you look to statistics, Palm Beach County has a very low crime rate. So it’s, it’s really, really good here. As far as that lies. Another thing that I want to know like I said about the weather, the weather’s the same. It’s always that you know, it’s almost amazing or it’s like come late November, but mid to end in November. It’s like someone takes a light switch and turns it off. And the humidity is gone. And it’s just nicer than from November, December, January, February, March. And even April, we’ve had beautiful weather all through April now pretty much you know, maybe it starts to get a little bit hot, but like, you know, the only unbearable month I will tell Canadians or anybody here. It is very hot, very muggy in August September, you know, so those are the months that I would say, you know, go travel go do somewhere else. It can get banned in Canada. August is a great like, you know, Want to be up north? Right, September’s beautiful you can come in to start getting in the fall and other fall colours and stuff. So and then like I said, October, you know, starts to cool down and then by November It’s beautiful here. So

 

Erwin  

let me see what else the kids asked and even bring kids with them. They even asked about schools.

 

Ryan  

Yeah, well, I mean, that’s another thing too. Palm Beach County has incredible schools here. Like we have some of the best rated schools of anywhere in the state, both private and public, really good schools here. On the side, he has a lot of activities here. Like I said, they all like Ryan, what about the golf? Tell me about the golf and I’d be like, Okay, do you know where Tiger Woods lives? You live here in Palm Beach County. I’ve been Jupiter by her diet golfer called Jack Nicklaus lives in North Palm Beach. Right? There’s actually more PGA golfers living here in Palm Beach County than anywhere else in the United States.

 

Erwin  

As a golf affordable. Yeah, that’s the thing too.

 

Ryan  

There’s so many courses here. There’s tonnes of courses here. Like you know, there’s so many I think there’s like over 100 different courses here within like a 20 mile radius of West Palm Beach. So you know, there’s tonnes of golf to be had, you know, as far as entertainment. Oh, another big thing here so forth. We love to eat out the restaurants are fabulous. That’s another thing with Mauna Kea exactly what about the you know the dining seafood restaurants incredible very competitive here on this you know, because obviously a lot of people come here vacation they wanted didn’t want to cook so to eat out. So the restaurants here are just another level. And then obviously the fishing the diving big like we have the clearest water because that gulf stream comes so close. So it’s really good diving we get actually oh sorry, explained the Gulf Stream. So the Gulf Stream is like a warm river of currently ocean actually starts down in the Caribbean goes up between Cuba and Hispaniola and through the Bahamas channel and it comes up and then goes skirts through the Straits of Florida and goes right along the coast of Florida. Well, if you look at the map, Palm Beach County bumps out of Florida a little bit so that Gulf Stream literally brushes right through the right at Palm Beach County right at singer island so that water is crystal clear. Like there’s days here or when we have if you’re a diver, we have days where we have 150 foot of visibility. So if you can imagine you’re in 150 feet of water you can see the bottom easy. I know so I’m a big free diver like and I like a set of fishermen so for me like you’re getting all these days of the year like almost 300 days a year but yeah, beautiful this you can feel the fish feel a lifetime there which is great. So the activity wise you know as far as like sports teams, I’m seeing West Palm line of professional sports teams here but again, we have the bright line brings your right downtown to Brickell Miami, you’re literally right across from the what used to be called the American Airlines Arena. You know where the the professional basketball team plays the Miami Heat. Of course, you got the Miami Dolphins, Florida panthers from the I know these Canadians are hockey fans.

 

Erwin  

Were the furloughed Panthers. How far how far to how far we need to adopt a hockey team. Yeah, Tampa is out here is good. Florida is actually playing extremely well this year. Florida.

 

Ryan  

Panthers aren’t they’re like right on the edge of Fort Lauderdale and Miami. A little bit further west. So it’s not far from here like West Palm. I could be in the Panthers arena. You know, like 40 minutes.

 

Erwin  

That’s it? Yeah. fraction of the cost to Yeah, it’s like 30 plus 30 cents of the dollar compared to what we pay here,

 

Ryan  

sir. Well, you guys are awesome. Canadian Canadians are awesome hockey fans. You guys. drive up the price.

 

Erwin  

overpaying hockey fans.

 

Ryan  

Yeah. I grew up like us. I grew up in northern Minnesota. So I grew up playing hockey. Geez.

 

Erwin  

Alright, yeah, your phone’s gonna break when this podcast drops.

 

Ryan  

I’m excited. I mean, like I said, it’s the timings good. Like if I’m an investor looking at like, gosh, these condos and stuff are still affordable. Like you know, they’re still not like crazy yet. And I just I see what’s happening you know, here in South Florida, just so many like I said people coming here what’s happening? And I’m just you know, I’ve been lucky I’ve just had a great I mean for 24 years I’ve had a great life so I’ve met it you know, I know a lot of fun things to do people to meet you know, people have their investors I have you know, my own company like I said real trade can help and then you know, I mean I just just had actually a zoom call with this awesome startup called future state here in South Florida. They literally just headquarter from New York down to here and they help basically short term investors manage their ad, their Airbnb VRBO is everything all from one place? One location, really great software that they have developed?

 

Erwin  

You know, I’m sure hurricane would like to hear well, it’s

 

Ryan  

called Future stay. I’m good friends with the founder. They actually work out of the 99 space here.

 

Erwin  

We’re gonna zoom call with him. You said Yeah, right. Right

 

Ryan  

before this. I was just literally like on a call with them just before this before we jumped on. Yeah. So yeah, because they obviously love, you know, real trade, they want it like, wow, they, they want to go to the network because there’s all these real estate agents that can refer them business right with their investors. You know, because I’m telling the short term investment thing, guys is an awesome way to go. The returns are great. And it’s just like, you know, it’s exciting, it’s exciting, you can make great returns, and you’re getting into the ladder of the real estate market here in South Florida. So,

 

Erwin  

it’s a great way to go. How many buildings allow it versus not allow it? Allow?

 

Ryan  

Yeah, no, I know, the ones that allow there’s not a like, most of them will allow you to do to, to rent most condos will allow you to do, you know, two rentals a year, right. So you can do one short term rental, and then another, another rental over the summer. The ones that are obviously you know, real desirable like that I see right now these ones that can you can do the monthly rentals, you know, where you can rent them out monthly, which are great. And now in Miami, which I have a great contact literally one of the developers is my good friends they built now. And there’s a couple that they’re selling pre construction that are set up for Airbnb nightly rentals. So they’re building the units, right. And they’re literally like, there’s no rental restrictions. You can rent them out nightly for you, they’ll man and they’ll help you manage it, obviously doing the cleaning and everything like that, of course you can put them on the other platforms, whatever you want to put onto that Airbnb or VRBO could partner up with future stay, obviously, they can can help you there as well. You know, make it pretty turnkey for these investors to be able to do that. And obviously, if you get a foreign national loan and put 30% And you know, you have a little bit of cash flow, you got a place to come to Florida, rent it out, you know, nightly, that’s pretty advantageous.

 

Erwin  

That’s pretty awesome. Nice to meet, you put me in touch with one of your clients that has one of these places to rent. Clean to

 

Ryan  

Yeah, no, I did one, actually, that most of they get rented out like that. But that one client that just bought that one and veero He’s just getting ready to put on the market. So there will be some time after that. He just he just closed on the last week.

 

Erwin  

So when the challenges of short term rentals is it’s easier if you live there. Well, your investors are not local at all. What are they doing in terms of like cleaning and stuff like that?

 

Ryan  

Yeah, so I have some great partnerships that I have with some management companies that’ll manage it, you know, the cleaning and everything for you of course they take a percentage

 

Erwin  

deserve it.

 

Ryan  

It’s a Yeah, they do. It’s a lot lot of them will manage even even the all the Airbnb accounts and everything, all the posts, even bookings, like, you don’t have to do anything, they’re gonna end, they will do it and including the cleaning to, they’re gonna range anywhere from you know, they’re gonna want anywhere from like, 20 to 30%

 

Erwin  

Oh, that’s worth it for your peace of mind. Yeah, exactly. Exactly. How did you manage like managing more than two?

 

Ryan  

I know. Yeah. Like you said, if you’re here, you can, you know, you can do you could have a cleaning lady that you go goes in there once, you know, once a month or whatever cleans if you’re doing the monthly rental. Remember single family homes you can do most places here like in Palm Beach County nightly as well. But, you know, obviously that’s more detail. Yeah, there’s companies out there that I got even relationships with and again, that’s through you know, real trade, they’re gonna be able to network with people on the platform. It’s literally like a wire built it

 

Erwin  

running out of time, for right before the long weekend. And surprise you booked it for now, because I’m pretty sure you have more fun things to do.

 

Ryan  

I love it. I do. Remember last time we did with it was so much fun. And, you know, it’s just, I mean, look what happened since the last one we had and then and, like what’s happened two years. COVID like this, like, you know, the real estate market getting crazy. Just like everywhere. So it’s, it’s great.

 

Erwin  

When things busy performed the pandemic to they were

 

Ryan  

Yeah, now you’re starting to see things that just this pandemic, this sped everything up, like I tell you and I just I really don’t see this, you know, remote work going away, like I see it even accelerating, even without the pandemic, right. I mean, you know, without, with without it, I just see people like, you know, wow, I can do all this work from home, and then they’re just gonna be like, Why am I living in Iowa? Like, what am I? What am I doing? You know, like, like I said, and so you’re just getting so many people like that, that are moving here

 

Erwin  

to parties, right. And that’s by commercial at all, how is office space compared to like New Jersey, New York? Yeah, so

 

Ryan  

the office space here, you know, is getting more expensive, obviously. But that’s why this these these concepts like I’m at like 99 are becoming so popular, which are great. And it is like you get the benefits of these co working spaces of obviously having an office but then you’re meeting like I met my developer here, right? I met like my marketing team. All these people you may be great con. It’s seriously it’s like I really think is the future of work is these co working incubators, accelerators. Such a cool thing. And there’s enough co working spaces here so you can get well as co working spaces have your own office. You know, for like, 1000, you know, 1000 bucks a month. Have your own office space and everything right there. So, for example,

 

Erwin  

like Goldman Sachs, you mentioned who bought got a floor, like you’re paying less more?

 

Ryan  

Oh, yeah, another pain, they’re paid less, they’re definitely paying less than they would work or anything like that. A lot less, quite a bit less. Yeah, quite a bit less, I would say probably 2020 or 30% less than they’re paying a lot of different places.

 

Erwin  

And people are probably lining up to take, I’ll move, I’ll move. I’ll stop. I’ll stop paying for my bachelor. What’s a bachelor in New York City like 4000 a month or something?

 

Ryan  

1000 a month for like a studio. Which they could come down here and get like, you know, it’s still like, you know, a good like, two bedroom. Like I said, you know, three grand a month 25. Two to 3000 a month, so it’s less right. But then you’re like I said, You’re a mile from the beach. I mean, you’re right here less than a mile from beach. So yeah,

 

Erwin  

crazy. All right. And it was Thursday, but essentially, it’s Friday. Happy Easter, Ryan, you too. Thanks. Thanks so much for doing this. I got a bike Charles. We figured the date. Season so there’s no way I was gonna I was leaving. Charles invited me to Florida but there’s no way I was allowed to leave because we’re in the middle of tax season.

 

Ryan  

I know. We were supposed to get together. We were gonna get together when he was here. Of course. I got so busy too. And I do have a five year old son. But I told him next time He comes for sure.

 

Erwin  

Yeah, it was disappointed camping. Right golf clubs. It’s like a thing. We don’t travel there golf clubs. Well,

 

Ryan  

there’s actually a there’s a there’s a company where you can ship them this you can ship them down here. A lot of people do that. They just ship their golf clubs down. It’s cheaper that way rather than flying with them on the plane, but you might have really nice clubs. I don’t know. And you might not trust somebody.

 

Erwin  

Awesome. Right. Thanks so much for doing this. Congratulations on your success. Sounds like you had a blast through COVID At least you at least business is probably booming through all COVID

 

Ryan  

There was no it was good. It was good. It was crazy. And it still is. But ya know, I enjoy it. Thanks for having me on again. And let’s keep doing it.

 

Erwin  

Oh yeah. How can people connect with you? First, start with the Start with your realtor business. Where can people connect? Where can people follow?

 

Ryan  

Yeah, so the best way is actually you can connect with me is through real trade. You can go on there and we’ll trade real trade.io As a buyer or seller, you can create a profile for free. Okay, and then I want to suggest the pros there so you can connect with me there and follow me and then we can be in contact that way. Another another way just simply email me you know my email is lost or

 

Erwin  

new this is this is the internet it’s forever

 

Ryan  

Yeah, that’s not that’s no problem. So they’re obviously trade a profound real trade. You can follow me there and obviously search for properties use that which is awesome. But then you can email me too. It’s my name Ryan pool. Ry A N P O L E at real trade.io. Excellent. Yep. Real trade dot i

 

Erwin  

o the I O mean something.

 

Ryan  

Yeah, that’s like a real blockchain tech forward. You know, you are. Yeah, you are. It actually means Indian Ocean. But a lot of the developers blockchain guys said input output, which is like a big developer kind of an URL. So it’s actually a lot of startups use that. I got I cool.

 

Erwin  

I might use it for something. Yeah, learn something new every day. Right? This has been a blast. Information overload for the flippin Good. Fantastic. I love the whole foreign nation national mortgages. And yeah, congrats on your success. Thanks again for doing this.

 

Ryan  

Yep, we’ll hope to see you down here soon in Florida.

 

Erwin  

Before you go if you’re interested in learning more about an alternative means of cash flowing like hundreds of other real estate investors have already signed up for my newsletter and you’ll learn of the next free demonstration webinar I’ll be delivering on the subject of stock hacking. It’s much improved demonstration over the one that I gave to my cousin chubby at Thanksgiving dinner in 2019. He now averages 1% cash flow per week, and he’s a musician by trade. As a real estate investor myself, I got into real estate for the cash flow. But with the rising costs to operate a rental business, it’s just not the same as it was five to 10 years ago when I started there. Forget the cash flow reduces your risk. The more you have, the more lumps you can absorb. And if you have none are limited cash flow, you’re going to be paying out your pocket like I did on a recent basement flood at my student rental in St. Catharines. Ontario. If you’re interested in learning more, but it’s true for free for my newsletter at www dot truth about real estate investing.ca. Enter your name and email address on the right side. We’ll include in the newsletter when we announce our next free stock hacker demonstration. Find out for yourself what so many real estate investors are doing to diversify and increase our cash flow. And if you can’t tell I love teaching and sharing this stuff.

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BEFORE YOU GO…

If you’re interested in being a successful real estate investor like those who have been featured on this podcast and our hundreds of successful clients please let us know.

It is our honour to give back and educate others on how we build cash flowing real estate portfolios using all the best practices shared on this podcast, from the lessons of our hundreds of clients and of course our own experience in owning investment real estate.

If you didn’t know already, we pride ourselves on being the best of the best real estate coaches, having the best property managers, contractors, handy people, cleaners, lawyers, accountants, everyone you need on your power team and we’re happy to share them with our clients to ensure your success. 

New investor or seasoned veteran investor, we can help anyone by providing our award winning coaching services and this isn’t all talk.

We have been awarded Realtor of the Year to Investors in 2015 by the Real Estate Investment Network, 2016 by the Canadian Real Estate Wealth Magazine and again in 2017 because no one told the judges no one is supposed to win the award twice but on merit, our peers deemed us as the best.  In 2018, we again won the same award by the Real Estate Investment Network.

Hopefully being the most decorated team of Realtors in Ontario will make you consider us for your first or next real estate investment.  Even if you don’t invest in our areas, there’s a good chance I know who would be ideal for you. 

I’ve been around for a while, some Realtors are talented at servicing investors there are many with great ethics.  The intersection of the two, talent and ethics is limited to a handful in each city or town.

Only work with the best is what my father always taught me.  If you’re interested, drop us an email at iwin@infinitywealth.ca.

I hope to meet you at one of our meetups soon.

Again that’s iwin@infinitywealth.ca

Sponsored by:

Infinity Wealth Investment Network – would you like to know how our investors returned 341.8% on positive cash flowing real estate over the last five years? On average, that was 68.4% per year.

Just imagine what winning in real estate could do for you.

If you would like to know how we did it, ask us how by calling 289-288-5019 or email us at iwin@infinitywealth.ca.

Don’t delay, the top markets we focus in are trending upward in price, so you can pay today’s price or tomorrow’s price.

Till next time, just do it because I believe in you.

Erwin

Hamilton, St. Catharines and Toronto Land Development, Real Estate Investor, and soon to be builder.

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