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Show Summary:

Property Investing and Goal Setting with Evan Unger, Hosted by Gillian Irving

In this episode, host Jillian Irving, a mortgage agent with LendCity and real estate investor, discusses real estate entrepreneurship, goal setting, and personal success with guest, Evan Unger. Evan, a real estate entrepreneur, author, and holder of two Guinness World Records, explains his process for goal setting leading to success. He discussed his journey from holding the Guinness record for highest standing jumps into real estate, highlighting the importance of setting specific, measurable goals in personal and professional life. He also outlines how Tuck Capital aids both new and seasoned investors in property acquisition and optimization.

00:00 Introduction and Guest Background

00:55 Unveiling the Guinness World Records

02:20 The Power of Goal Setting

04:14 Balancing Different Aspects of Life

04:56 The Importance of Health in Achieving Goals

06:21 Introduction to Tuck Capital and Real Estate Ventures

08:22 The Challenges and Opportunities in Ontario's Real Estate Market

12:18 The Luxury Student Rental Niche

14:41 Optimizing Real Estate Investments

16:46 Tenant Stories and the Importance of Accounting

17:39 Building a Team with Diverse Expertise

19:13 The Importance of Delegation and Time Management

19:51 Consulting Services for Investors at Different Levels

21:04 Goal Setting: From General to Specific

27:04 Breaking Down Big Goals into Daily Routines

29:45 Reevaluating Goals and Reflecting on Progress

32:18 How to Reach Out for Consultation

Gillian Irving: 00:00:00

Welcome to the wisdom lifestyle money show.

Gillian Irving: 00:00:02

Everyone.

Gillian Irving: 00:00:02

My name is Jillian Irving, and for those of you who don't know me

Gillian Irving: 00:00:06

already and who haven't met me here, I'm a mortgage agent with LendCity.

Gillian Irving: 00:00:10

I'm a longtime real estate investor myself with a portfolio

Gillian Irving: 00:00:13

in Ontario, New Brunswick.

Gillian Irving: 00:00:15

I'm also looking to expand into the United States, which is super exciting

Gillian Irving: 00:00:18

now that LendCity can get mortgages there.

Gillian Irving: 00:00:21

So I work with investors both on the financing side and the coaching side.

Gillian Irving: 00:00:25

And in my personal time, I'm an avid runner and a marathoner.

Gillian Irving: 00:00:28

And I'm really excited to have a conversation with Evan Unger of tech

Gillian Irving: 00:00:32

capital today, because reading your bio, Evan, I'm just going to just

Gillian Irving: 00:00:36

touch on a couple of things that I saw.

Gillian Irving: 00:00:38

So you're a real estate entrepreneur.

Gillian Irving: 00:00:40

You're the author of make the decision, which is an Amazon

Gillian Irving: 00:00:43

bestselling book on goal setting.

Gillian Irving: 00:00:45

You're a partner in four privately held companies and you have two

Gillian Irving: 00:00:49

Guinness world record records.

Gillian Irving: 00:00:52

Yeah.

Gillian Irving: 00:00:53

Okay.

Gillian Irving: 00:00:53

I don't even really know where to start with all of this.

Gillian Irving: 00:00:55

I think, let's start with your Guinness World Records.

Gillian Irving: 00:00:58

What are your Guinness World

Evan Ungar: 00:00:59

Records in?

Evan Ungar: 00:01:00

I mean, thank you so much for having me.

Evan Ungar: 00:01:02

I really appreciate it.

Evan Ungar: 00:01:03

I'm excited to chat with you today and learn from you and hopefully, you know,

Evan Ungar: 00:01:07

create some value for your listeners.

Evan Ungar: 00:01:10

To answer your question, I have two Guinness world records for the

Evan Ungar: 00:01:12

highest standing jumps in the world.

Evan Ungar: 00:01:15

So if you know what a box jump is in the gym.

Evan Ungar: 00:01:18

Yes, I've

Gillian Irving: 00:01:18

embarrassed myself many a time on box jumps,

Evan Ungar: 00:01:22

as we all have but I have a Guinness World Record for

Evan Ungar: 00:01:24

the highest standing box jump.

Evan Ungar: 00:01:25

And then I have my second record is for the highest box jump off of one leg.

Gillian Irving: 00:01:31

Wow.

Gillian Irving: 00:01:31

That's pretty incredible.

Gillian Irving: 00:01:32

Yeah.

Gillian Irving: 00:01:32

I think mine, I probably am the opposite of that.

Gillian Irving: 00:01:35

I feel like that is probably my weakest possible thing.

Gillian Irving: 00:01:38

I do have other areas that I do okay in, but box jumping

Gillian Irving: 00:01:41

is actually not one of them.

Gillian Irving: 00:01:43

So is that something you had to Obviously, you trained for that for an awfully

Evan Ungar: 00:01:47

long time.

Evan Ungar: 00:01:48

I mean, I think, you know, the story goes that there was this co worker of

Evan Ungar: 00:01:52

mine who I used to work at a gym a while back, and I had this co worker who always

Evan Ungar: 00:01:56

challenged me, you know, oh, who can bench more, who can squat more, and then one

Evan Ungar: 00:02:00

day he came up with who can, you know, jump higher, and we ended up just going

Evan Ungar: 00:02:04

back and back, and eventually, By the time we were finished, the gym was like

Evan Ungar: 00:02:08

clapping and people were like watching us.

Evan Ungar: 00:02:10

And so we Googled it and I was a foot away from the record.

Evan Ungar: 00:02:14

So I was like, I'm going to train for this and beat it.

Evan Ungar: 00:02:15

And so I trained for just under a year and a year later, I beat that record.

Evan Ungar: 00:02:19

That's

Gillian Irving: 00:02:20

really incredible.

Gillian Irving: 00:02:20

And so was this before you wrote your book on goal setting, or was

Gillian Irving: 00:02:24

your goal setting book before that, or did they inspire one another?

Evan Ungar: 00:02:28

I think the jumps definitely inspired part of the book.

Evan Ungar: 00:02:31

And so I was, you know, I was achieving.

Evan Ungar: 00:02:36

Some really big goals in my mind and people were asking me like,

Evan Ungar: 00:02:39

okay, what did you do for this?

Evan Ungar: 00:02:41

How did you stay on track?

Evan Ungar: 00:02:42

What is it?

Evan Ungar: 00:02:42

I bought my first house when I was in my early twenties.

Evan Ungar: 00:02:45

You know, in Oakville, Ontario.

Evan Ungar: 00:02:47

You know, I've just been hitting some goals from when I was

Evan Ungar: 00:02:50

younger and people kept asking me.

Evan Ungar: 00:02:52

What are you doing to hit these things?

Evan Ungar: 00:02:53

I said, you know, I'm going to write it out and there we go.

Gillian Irving: 00:02:56

And so is that, do you feel like goal setting has been

Gillian Irving: 00:03:00

the foundation to your success?

Gillian Irving: 00:03:02

Is that what is rooted at the bottom of everything?

Evan Ungar: 00:03:05

I think goal setting plays a massive role in anything we do.

Evan Ungar: 00:03:10

All of your actionable tasks, all of your planning has to be

Evan Ungar: 00:03:16

Systematized out of something.

Evan Ungar: 00:03:18

So if you don't have goal and a specific target that you're aiming

Evan Ungar: 00:03:21

for, how are you going to create any type of next steps and next actions?

Evan Ungar: 00:03:25

So I do believe the goal planning has had a massive impact.

Evan Ungar: 00:03:27

Yeah.

Gillian Irving: 00:03:28

Just to keep it sort of related to, to, I mean, I'm sure your

Gillian Irving: 00:03:31

goal setting can benefit people no matter what industry or what their focus is.

Gillian Irving: 00:03:36

But if we keep it sort of centered on, on, on real estate, are there different

Gillian Irving: 00:03:41

goal setting techniques for those who are interested in real estate, would you say?

Gillian Irving: 00:03:45

Do they vary depending on what your and

Evan Ungar: 00:03:50

I think that's what makes it so powerful is you can sit back in

Evan Ungar: 00:03:58

your life and pick any part of your life, personal professional from hobbies

Evan Ungar: 00:04:03

to health and fitness, you can pick anything and you can create a goal

Evan Ungar: 00:04:07

the same way and you can break that goal down and backwards the same way.

Evan Ungar: 00:04:11

That's it translates well across different parts of your life.

Gillian Irving: 00:04:14

And do you feel like you have sort of areas of your

Gillian Irving: 00:04:18

life that you so what are the areas?

Gillian Irving: 00:04:20

So there's personal, you mentioned, so there's personal, financial,

Gillian Irving: 00:04:23

what else, physical for you?

Gillian Irving: 00:04:25

What are the areas that you tend to chunk it into for people or say you

Gillian Irving: 00:04:29

need to be thinking about all of these?

Evan Ungar: 00:04:32

Yeah, I think it's important to think about all of them.

Evan Ungar: 00:04:34

You know, it's not a bad thing to have priorities in one aspect of

Evan Ungar: 00:04:37

your life for your goals, but you do want to make sure that you're, you

Evan Ungar: 00:04:41

are focusing across the spectrum.

Evan Ungar: 00:04:43

So I would say you have your health you have your money, you have your you

Evan Ungar: 00:04:47

know, your hobbies and your fun and you have your, you know, your relationships.

Evan Ungar: 00:04:52

And so those would be like some key areas I would focus on for

Gillian Irving: 00:04:55

sure.

Gillian Irving: 00:04:56

You know, I hear a lot of people talking about how health kind of

Gillian Irving: 00:05:00

has to be number one really at the really, you can't have any of the other

Gillian Irving: 00:05:06

things unless you have your health.

Gillian Irving: 00:05:08

Is that something that you believe to that?

Gillian Irving: 00:05:10

Everything else has you have to kind of they have to, you know, Jimmy

Gillian Irving: 00:05:14

for priority, but at the base of everything has to be your health.

Gillian Irving: 00:05:18

Otherwise, you can't really accomplish much if you're not

Evan Ungar: 00:05:20

I agree.

Evan Ungar: 00:05:20

And, you know, you see a lot of young people these days who don't

Evan Ungar: 00:05:22

prioritize that was tell them, you know, try achieving any of these

Evan Ungar: 00:05:27

goals in bad health and you will.

Evan Ungar: 00:05:29

Quickly learn that your health becomes number one.

Evan Ungar: 00:05:32

So and that's the land physical health.

Evan Ungar: 00:05:34

You've got to be, you know, setting goals and practicing for both.

Gillian Irving: 00:05:38

Yeah I certainly so I started running in earnest during

Gillian Irving: 00:05:42

the pandemic, you know, like what else were you going to do really?

Gillian Irving: 00:05:45

But I really took it seriously.

Gillian Irving: 00:05:47

So what?

Gillian Irving: 00:05:48

That's almost four years now.

Gillian Irving: 00:05:50

And I feel like everything is different fundamentally.

Gillian Irving: 00:05:53

I mean, with such a rock solid fitness as a priority, I feel just

Gillian Irving: 00:05:58

so much better about everything.

Gillian Irving: 00:06:01

Like you kind of have the clarity you need for all the decisions that you make.

Evan Ungar: 00:06:06

Absolutely.

Evan Ungar: 00:06:06

I completely agree with you.

Evan Ungar: 00:06:07

Yeah, sure.

Evan Ungar: 00:06:08

You're just going to get your body's going to get stronger.

Evan Ungar: 00:06:11

Your discipline becomes better.

Evan Ungar: 00:06:13

You're got the good chemical reactions happening in the body.

Evan Ungar: 00:06:17

Everything works better for you when you're in health.

Gillian Irving: 00:06:21

Now, tell me a little bit about Tuck Capital because I

Gillian Irving: 00:06:23

suspect that people who are going to.

Gillian Irving: 00:06:25

Tune in to us today are going to want to know about sort of the real estate

Gillian Irving: 00:06:30

aspects of your life and how it is that you can either help investors

Gillian Irving: 00:06:35

either get started or tell me, why don't you just tell me a little bit

Gillian Irving: 00:06:37

about tech capital and what you do.

Evan Ungar: 00:06:38

Yeah, so tech capital is kind of like our.

Evan Ungar: 00:06:42

Overarching consulting and brand that we have under like over our umbrella.

Evan Ungar: 00:06:47

That is our umbrella.

Evan Ungar: 00:06:48

And then we have Tuck Developments, we have Choice Renovations

Evan Ungar: 00:06:51

Canada, and we have Leeso.

Evan Ungar: 00:06:54

And these are all vertically integrated, basically to support

Evan Ungar: 00:06:57

our real estate system that we have.

Evan Ungar: 00:07:00

Capital was born out of myself and my business partner, Jordan.

Evan Ungar: 00:07:05

Consulting on different business ventures and deals.

Evan Ungar: 00:07:08

And you know, we ended up consulting and actually lending our own

Evan Ungar: 00:07:12

funds to someone who was building out a real estate portfolio.

Evan Ungar: 00:07:16

And it came to our attention, like, how are they borrowing at this

Evan Ungar: 00:07:19

rate and still being profitable?

Evan Ungar: 00:07:21

And so he said, Instead of lending on these things you know, we should jump in.

Evan Ungar: 00:07:25

A long time ago we jumped in and learned the ropes and we

Evan Ungar: 00:07:28

haven't looked back since.

Evan Ungar: 00:07:30

We've really been in love with the real estate industry since,

Gillian Irving: 00:07:32

so you provide loans to investors who are looking to grow.

Gillian Irving: 00:07:35

Is that what you

Evan Ungar: 00:07:35

do?

Evan Ungar: 00:07:36

No, not anymore.

Evan Ungar: 00:07:37

We can help.

Evan Ungar: 00:07:38

Like consult to help introduce them or help even goal plan with them

Evan Ungar: 00:07:43

for what they will need for that.

Evan Ungar: 00:07:45

But mainly we're doing our own developments and and our own growth

Evan Ungar: 00:07:49

now and supporting our own system.

Gillian Irving: 00:07:51

And where are you focusing your attentions and

Gillian Irving: 00:07:53

like what market are you focusing on in terms of the development?

Evan Ungar: 00:07:57

It's mixed.

Evan Ungar: 00:07:58

We're across.

Evan Ungar: 00:07:59

You know, I think we're in like eight different cities in Ontario

Evan Ungar: 00:08:02

we have some good reach there.

Evan Ungar: 00:08:04

Southern Ontario, like favorite spots are going to be Hamilton, St.

Evan Ungar: 00:08:07

Catharines Port Colborne, Welland you know, Niagara and Hamilton

Evan Ungar: 00:08:10

region are more my favorite Southern.

Evan Ungar: 00:08:12

And then up in the North, you know, Sault Ste.

Evan Ungar: 00:08:15

Marie would probably be like my one pick up there.

Gillian Irving: 00:08:17

And do you find it different?

Gillian Irving: 00:08:18

I mean, I've just been hearing so many people these days.

Gillian Irving: 00:08:20

Investors seems.

Gillian Irving: 00:08:22

So tired of Ontario like with it's the difficult landlord tenant board.

Gillian Irving: 00:08:28

Prices just so many things about Ontario.

Gillian Irving: 00:08:30

There's just so much investor on we with this area, right?

Gillian Irving: 00:08:33

We're like, Oh, God, it's hard to do business here.

Gillian Irving: 00:08:35

What?

Gillian Irving: 00:08:36

I mean, do you have advice for investors who are trying to make it in this market?

Gillian Irving: 00:08:40

Who?

Gillian Irving: 00:08:40

Who?

Gillian Irving: 00:08:41

You know, we appreciate investing out of province or far away.

Gillian Irving: 00:08:44

There's difficulties that come with that.

Gillian Irving: 00:08:46

You know, what would you say to an investor who is trying to decide

Gillian Irving: 00:08:49

whether to make it work here or go into To a different province

Gillian Irving: 00:08:52

or out of the country to invest.

Evan Ungar: 00:08:55

You know, I feel the same, I share the same sentiment of

Evan Ungar: 00:08:57

it is really hard to do it in Ontario.

Evan Ungar: 00:09:01

The landlord tenant laws are not even like in the tenant's favour.

Evan Ungar: 00:09:05

They're not in the landlord's lap at all.

Evan Ungar: 00:09:08

There really is no.

Evan Ungar: 00:09:09

It's just so disadvantageous to be a landlord in Ontario, but that, you know,

Evan Ungar: 00:09:15

like you're getting crazy appreciation compared to most other places.

Evan Ungar: 00:09:21

You know, you're getting some different demographic depending

Evan Ungar: 00:09:24

on where you are in Ontario.

Evan Ungar: 00:09:25

And we're a thriving economy compared to the majority of the other provinces,

Evan Ungar: 00:09:30

if you look at the stats, right?

Evan Ungar: 00:09:31

And I would say, no, do your research and know what you're getting

Evan Ungar: 00:09:35

yourself into and you should be fine.

Evan Ungar: 00:09:37

That's really the biggest thing.

Evan Ungar: 00:09:38

I see so many people who jump in, you know, they call me Evan.

Evan Ungar: 00:09:41

I got this tenant, you know, they're not paying.

Evan Ungar: 00:09:44

What do I do?

Evan Ungar: 00:09:44

All this stuff, how many properties you have?

Evan Ungar: 00:09:47

I have one.

Evan Ungar: 00:09:48

I didn't, I don't, I came over.

Evan Ungar: 00:09:49

I kicked in the door.

Evan Ungar: 00:09:51

I did this.

Evan Ungar: 00:09:51

I was like, Oh my goodness.

Evan Ungar: 00:09:53

You know, a lot of that stuff comes as surprise and that's where the

Evan Ungar: 00:09:56

majority of the pain comes from.

Evan Ungar: 00:09:57

It's just not going and being surprised.

Evan Ungar: 00:09:59

So I say get educated and build your team out.

Evan Ungar: 00:10:02

Building your team will be one of the most important things you do.

Evan Ungar: 00:10:06

You know, getting that amazing paralegal on your side, getting the

Evan Ungar: 00:10:09

accountant, the realtors, if you need them, the the contractors, especially.

Evan Ungar: 00:10:14

So these are the people in your team that you have to assemble.

Evan Ungar: 00:10:18

And.

Evan Ungar: 00:10:19

They gotta be like your A team, you gotta be willing to go to war with

Evan Ungar: 00:10:22

these people and if you are, they build these things for you, right?

Evan Ungar: 00:10:26

If you're trying to juggle everything on your own in a province like

Evan Ungar: 00:10:28

Ontario, it gets very hard very

Gillian Irving: 00:10:30

quickly.

Gillian Irving: 00:10:31

I've always, I'm a heavy, a lot of my portfolio is focused on student rentals.

Gillian Irving: 00:10:36

And I don't have to worry they're their own headaches, there's some

Gillian Irving: 00:10:39

headaches that come with students.

Gillian Irving: 00:10:41

But one of the headaches I don't have is non payment of rent

Gillian Irving: 00:10:44

and people staying forever.

Gillian Irving: 00:10:46

And being out of market rents after a few years.

Gillian Irving: 00:10:48

You know, it's funny, people look at that strategy and you go, Jillian,

Gillian Irving: 00:10:50

you're nuts for doing that, but I don't know, I've had an amazing appreciating

Gillian Irving: 00:10:55

portfolio and the kids just leave after two years and they just move out

Gillian Irving: 00:10:59

and move on and I just feel it again.

Gillian Irving: 00:11:02

So I guess, you know, also knowing the strategy, knowing the

Gillian Irving: 00:11:05

pitfalls of one strategy versus another is always kind of key.

Gillian Irving: 00:11:10

That's assuming, you know,

Evan Ungar: 00:11:12

right?

Evan Ungar: 00:11:12

Yeah, I mean, you'll follow that.

Evan Ungar: 00:11:14

We have a mix of student rentals as well.

Evan Ungar: 00:11:15

We have a few of them in Hamilton, some near Mohawk and some near McMaster school.

Evan Ungar: 00:11:21

We enjoy that same opportunity.

Evan Ungar: 00:11:23

And like you said, every advantage also comes with its own opportunity.

Evan Ungar: 00:11:27

It's own problems to solve, you know, the turnover, sometimes the damage,

Evan Ungar: 00:11:32

you know, you're dealing with a lot more points of communication in a

Evan Ungar: 00:11:36

house versus one person from a family.

Evan Ungar: 00:11:38

You know, there's different things that come with it, but there are

Evan Ungar: 00:11:42

major advantages to it as well.

Evan Ungar: 00:11:44

And we actually had ours as Airbnbs during the pandemic, and they did really well.

Evan Ungar: 00:11:51

They weren't supposed to be student rentals.

Evan Ungar: 00:11:52

They were like really high end done homes.

Evan Ungar: 00:11:55

And we did them as Airbnbs.

Evan Ungar: 00:11:57

And then the pandemic ended and I feel like the travel and destination

Evan Ungar: 00:12:03

places for Airbnbs were really good.

Evan Ungar: 00:12:05

But the like inner city Airbnbs just kind of flopped off a bit.

Evan Ungar: 00:12:09

So we pivoted really quickly.

Evan Ungar: 00:12:12

We started putting out marketing for what we call luxury student rentals.

Evan Ungar: 00:12:16

And yeah.

Evan Ungar: 00:12:16

They filled up in no time.

Gillian Irving: 00:12:18

You know, I've always thought that was a fascinating niche

Gillian Irving: 00:12:20

and especially in Hamilton, too, where I feel like you draw from

Gillian Irving: 00:12:23

families that are coming like from Toronto or Oakville, a lot of them so

Gillian Irving: 00:12:26

that there's some, you know, family assistance behind these students.

Gillian Irving: 00:12:31

And so let me ask you, are your rents just unbelievable now in

Gillian Irving: 00:12:35

these luxury student rentals?

Gillian Irving: 00:12:36

People are paying for it.

Gillian Irving: 00:12:37

I bet.

Evan Ungar: 00:12:38

A hundred percent.

Evan Ungar: 00:12:39

A hundred percent.

Evan Ungar: 00:12:39

And you know, the accommodations that we provide are much nicer.

Evan Ungar: 00:12:42

You know, the kitchens are really well equipped the everything's

Evan Ungar: 00:12:45

furnished as if it's a high end Airbnb.

Evan Ungar: 00:12:47

So you're getting, you know, all your bedding and mattresses and bed frames.

Evan Ungar: 00:12:51

You're getting like decorate decorative stuff around the house.

Evan Ungar: 00:12:54

Like it's nice.

Evan Ungar: 00:12:55

It's a really nice.

Evan Ungar: 00:12:57

And you know, all the utensils and plates and everything they're matching sets like,

Evan Ungar: 00:13:02

you know, it's this small stuff like that.

Evan Ungar: 00:13:04

Big difference,

Gillian Irving: 00:13:05

right?

Gillian Irving: 00:13:05

I laugh.

Gillian Irving: 00:13:06

It's what kind of next generation of young adults they're going to

Gillian Irving: 00:13:09

come out of there with very high expectations about the kind of like

Gillian Irving: 00:13:12

I sat on milk crates like I had to.

Gillian Irving: 00:13:15

I found my furniture from the people who moved out on the street.

Gillian Irving: 00:13:19

You know, you're like, Oh, it's Thursday.

Gillian Irving: 00:13:21

It's big furniture.

Gillian Irving: 00:13:23

Garbage day.

Gillian Irving: 00:13:23

We'll go and see if we can find a new kitchen

Evan Ungar: 00:13:26

table.

Evan Ungar: 00:13:26

Yeah, no they're sitting on like nice dining tables and chairs

Evan Ungar: 00:13:30

with like glass tops and you know, canvases around the house, fake

Evan Ungar: 00:13:35

plants, like you name it, it's there.

Evan Ungar: 00:13:36

And yeah, we're doing really well with the rents.

Gillian Irving: 00:13:38

You know.

Gillian Irving: 00:13:39

What do you think?

Gillian Irving: 00:13:39

Is that double what a typical student rental would be in

Gillian Irving: 00:13:42

terms of rent, do you suppose?

Evan Ungar: 00:13:44

I'd say we're probably close to that.

Evan Ungar: 00:13:45

I don't know about full double, but our stuff near Mohawk for a single occupancy

Evan Ungar: 00:13:50

room will be almost 1, 000 for the room.

Evan Ungar: 00:13:52

And then and then we do entertain double occupancy for our larger rooms.

Evan Ungar: 00:13:56

And those will be 1250 for double occupancy.

Evan Ungar: 00:13:59

So it's good.

Gillian Irving: 00:14:01

Yeah that's really incredible.

Gillian Irving: 00:14:02

And I, you know, again, I think.

Gillian Irving: 00:14:05

You know, knowing who you're going to attract with a place like that,

Gillian Irving: 00:14:08

chances are you're probably gonna attract people who want nicer.

Gillian Irving: 00:14:10

We're probably going to behave a little bit better.

Gillian Irving: 00:14:12

And knowing too, that if they're committing to a place that has such

Gillian Irving: 00:14:16

high rent, if there's damage that they have a financial ability to fix it.

Gillian Irving: 00:14:20

So sometimes there's a lot to be said about.

Gillian Irving: 00:14:22

You know, willing to put the money in, you know, it's not all about

Gillian Irving: 00:14:25

not spending money as a landlord.

Gillian Irving: 00:14:27

Sometimes you spend the money and it comes back to you a lot faster when you do

Evan Ungar: 00:14:30

that.

Evan Ungar: 00:14:31

That's exactly right.

Evan Ungar: 00:14:32

That's and then that's how we really feel.

Evan Ungar: 00:14:33

So we try and take care of these tenants and these students and we

Evan Ungar: 00:14:37

feel they're doing the same for us.

Evan Ungar: 00:14:38

So it works out really well.

Gillian Irving: 00:14:40

That's fantastic.

Gillian Irving: 00:14:41

But what I hear in this story is that you're always looking for opportunity in

Gillian Irving: 00:14:45

the places you have that you're never just letting things run ever that's not a thing

Gillian Irving: 00:14:50

that you're constantly looking at every investment and trying to optimize it.

Gillian Irving: 00:14:56

Can you tell me a little bit about that process and other changes that you might

Gillian Irving: 00:14:59

have made to your portfolio that would, you know, be an example for how you

Gillian Irving: 00:15:03

know, so you move from a regular student rental to a luxury student rental.

Gillian Irving: 00:15:05

Are there other examples of that would give people ideas of what they might

Gillian Irving: 00:15:08

be able to do in their portfolio just to kind of give that little tweak?

Gillian Irving: 00:15:12

Yeah,

Evan Ungar: 00:15:12

absolutely.

Evan Ungar: 00:15:13

So I mean, that those properties.

Evan Ungar: 00:15:15

We pivoted multiple times on those properties alone.

Evan Ungar: 00:15:18

They were actually meant to be one of them was meant to be a flip.

Evan Ungar: 00:15:21

We were going to flip it.

Evan Ungar: 00:15:22

And then we saw that, you know, the margin on the flip we had anticipated didn't

Evan Ungar: 00:15:27

end up being as much as we wanted to.

Evan Ungar: 00:15:29

We said, you know what, I think this will cashflow well.

Evan Ungar: 00:15:31

It's in a perfect location for an Airbnb.

Evan Ungar: 00:15:32

So that's what we turned pivoted to Airbnb.

Evan Ungar: 00:15:35

And then from there we pivoted to luxury student rental.

Evan Ungar: 00:15:37

But I would say the advice I have is really making sure, you know, the

Evan Ungar: 00:15:41

operation of your properties, no matter what scale you're at, if you have one,

Evan Ungar: 00:15:45

or if you have a hundred or 200, you know, our bookkeeper provides us with,

Evan Ungar: 00:15:49

you know, NOI statements frequently.

Evan Ungar: 00:15:51

So we can evaluate the health of each property.

Evan Ungar: 00:15:54

And we're looking at that A physical going to the doctor and

Evan Ungar: 00:15:56

getting a physical and also, you know, come in, check your health.

Evan Ungar: 00:16:00

We checked out of the property.

Evan Ungar: 00:16:01

What are the utility bills?

Evan Ungar: 00:16:02

Why is this doubled now?

Evan Ungar: 00:16:04

You know, we're doing well here.

Evan Ungar: 00:16:06

Is there room to intensify this?

Evan Ungar: 00:16:08

How can we add?

Evan Ungar: 00:16:09

You know, how can we double the rent?

Evan Ungar: 00:16:10

The gross on this?

Evan Ungar: 00:16:12

Can we add laundry?

Evan Ungar: 00:16:13

Can we get paid parking?

Evan Ungar: 00:16:14

So these are things we look at often.

Evan Ungar: 00:16:16

We've taken many single family homes that we've had and converted them into

Evan Ungar: 00:16:20

multi unit dwellings to increase the NOI.

Evan Ungar: 00:16:23

So there's definitely many ways you can go about it, for

Gillian Irving: 00:16:26

sure.

Gillian Irving: 00:16:26

You know, but I think you're right about having a regular check in, right?

Gillian Irving: 00:16:31

I mean, you need to know.

Gillian Irving: 00:16:32

You can't make changes if you don't know what's happening, just like you

Gillian Irving: 00:16:35

can't for your own health, right?

Gillian Irving: 00:16:37

You're like, Houston, we've got a problem.

Gillian Irving: 00:16:38

I mean, we had huge problems with utilities with students, right?

Gillian Irving: 00:16:43

Especially if they weren't paying for the bills.

Gillian Irving: 00:16:46

They just were like, hey, I had one group of tenants once for properties in St.

Gillian Irving: 00:16:52

Catharines, and we had one of those indoor garages.

Gillian Irving: 00:16:55

But it had no heating in it, but they had a five day beer pong

Gillian Irving: 00:16:57

tournament in there with, and they used space heaters to heat it.

Gillian Irving: 00:17:01

And so I got this insane heating bill you know, but so you get

Gillian Irving: 00:17:07

burned once and then you learn your lesson and you never do it again.

Gillian Irving: 00:17:09

So I had heating caps on any bills that.

Gillian Irving: 00:17:12

You know, utilities caps on any leases that weren't that didn't have the

Gillian Irving: 00:17:16

utilities included, but you wouldn't know that necessarily if you weren't

Gillian Irving: 00:17:20

taking a I mean, obviously, I noticed the whatever gazillion dollar bill I

Gillian Irving: 00:17:24

got on that one, but slight increases.

Gillian Irving: 00:17:27

I think it's really important.

Gillian Irving: 00:17:28

No one really cares about your property the way you do.

Gillian Irving: 00:17:30

So I think having an accounting team that's giving you stuff regularly,

Gillian Irving: 00:17:34

I think is probably one of the best bets there is out there.

Evan Ungar: 00:17:37

I agree.

Evan Ungar: 00:17:37

Yep.

Gillian Irving: 00:17:39

And in terms of the team that you have around you, the

Gillian Irving: 00:17:41

folks at tech capital, do you all have different areas of expertise?

Gillian Irving: 00:17:44

What is the makeup of your team?

Gillian Irving: 00:17:46

And who occupies sort of what territory?

Evan Ungar: 00:17:49

Yeah, great question.

Evan Ungar: 00:17:50

I mean, we kind of built businesses around the.

Evan Ungar: 00:17:53

The team members that we would need.

Evan Ungar: 00:17:56

So instead of incorporating everybody into one business, we helped other people

Evan Ungar: 00:18:00

start businesses and get into business.

Evan Ungar: 00:18:03

We partner with people who are way better than us and then

Evan Ungar: 00:18:05

create a business with them.

Evan Ungar: 00:18:06

And that's kind of how we did it.

Evan Ungar: 00:18:08

You know, the renovations company you know, my business partner,

Evan Ungar: 00:18:11

Jordan had a great friend, his name's Josh, and you know, he was an.

Evan Ungar: 00:18:15

Amazing contractor and did gorgeous work.

Evan Ungar: 00:18:18

And so we partnered with him and created our construction company.

Evan Ungar: 00:18:21

And, you know, we did the same thing for our property management and

Evan Ungar: 00:18:24

did the same thing for development.

Evan Ungar: 00:18:26

So Jordan and I partnered up for that as well.

Evan Ungar: 00:18:28

I think.

Evan Ungar: 00:18:29

We all have different roles.

Evan Ungar: 00:18:31

Some of our businesses are external facing.

Evan Ungar: 00:18:33

So like the construction company is external facing, but the

Evan Ungar: 00:18:36

rest of them are internal.

Evan Ungar: 00:18:38

So it's been fun,

Gillian Irving: 00:18:40

right?

Gillian Irving: 00:18:40

But again, it sounds like there's just so much like there's a lot

Gillian Irving: 00:18:43

of self awareness to know thyself.

Gillian Irving: 00:18:45

You're like, I'm not so great at renovations, but boy, I know

Gillian Irving: 00:18:48

exactly the right person, right?

Gillian Irving: 00:18:50

Yes.

Gillian Irving: 00:18:51

Yeah.

Gillian Irving: 00:18:52

And so I guess that's the importance of creating your team is you're not

Gillian Irving: 00:18:54

trying to reinvent anything ever.

Gillian Irving: 00:18:57

Really.

Gillian Irving: 00:18:57

You're trying to just find the right person to do the work

Gillian Irving: 00:18:59

that you need, you know, needs

Evan Ungar: 00:19:01

to be done.

Evan Ungar: 00:19:02

It's really who, not how you know, it's it really is who can do this better

Evan Ungar: 00:19:07

than me and take this off my plate.

Evan Ungar: 00:19:09

And so I just surround myself with people who do it way, way better than me.

Gillian Irving: 00:19:13

And it's one of your goals.

Gillian Irving: 00:19:15

Trying to manage your time.

Gillian Irving: 00:19:17

Is that a goal?

Gillian Irving: 00:19:17

I mean, I feel like that's one of the things I need to wrestle more

Gillian Irving: 00:19:20

is how do I control my day more?

Gillian Irving: 00:19:26

And who not how would help with that, right?

Gillian Irving: 00:19:28

Who am I going to give this job to?

Evan Ungar: 00:19:30

Yes, I agree completely with that.

Evan Ungar: 00:19:32

I think I can absolutely improve on that part of my life as well.

Evan Ungar: 00:19:36

I feel like I'm working quite often.

Evan Ungar: 00:19:38

But you know, definitely delegation is key and and making sure you're

Evan Ungar: 00:19:43

setting yourself up for some personal boundaries will help as well.

Evan Ungar: 00:19:45

So that way you have to work within them and that, that kind of forces your

Evan Ungar: 00:19:48

hand to delegate or be more efficient.

Gillian Irving: 00:19:51

And are there sort of, do you have products or services

Gillian Irving: 00:19:54

that you offer to investors who are like, hey, I need consulting.

Gillian Irving: 00:19:57

You guys sound like you know what you're doing.

Gillian Irving: 00:19:58

Is that something like if a new investor or a, you know, a semi sophisticated

Gillian Irving: 00:20:04

investor is I just need to scale and I don't know how to do that.

Gillian Irving: 00:20:06

Can I come to Tuck Capital and say, I need help

Evan Ungar: 00:20:09

with this?

Evan Ungar: 00:20:09

Yeah, absolutely.

Evan Ungar: 00:20:11

You can come and we can consult in whatever area that you're looking for

Evan Ungar: 00:20:14

in the real estate, you know, process.

Evan Ungar: 00:20:17

We help people with turnkey renovations planning.

Evan Ungar: 00:20:20

We help them with turnkey acquisitions.

Evan Ungar: 00:20:23

You know, like we, we help people optimize their income on their properties.

Evan Ungar: 00:20:27

We've mentored a lot of people to help them purchase their first primary or

Evan Ungar: 00:20:30

their first investment property or.

Evan Ungar: 00:20:33

You know, larger we actually we hope publicly traded

Evan Ungar: 00:20:36

companies do their acquisitions.

Evan Ungar: 00:20:37

We're working on with private investors and publicly traded companies from the

Evan Ungar: 00:20:41

ground up at every stage of the process.

Evan Ungar: 00:20:43

So it's been quite

Gillian Irving: 00:20:44

exciting.

Gillian Irving: 00:20:45

That's really great.

Gillian Irving: 00:20:45

So it doesn't matter what your goals are, whether or not you just want

Gillian Irving: 00:20:48

to get dap, not dabble, but get, just get started and start slowly.

Gillian Irving: 00:20:51

You can help with that versus all the way up to the big publicly traded

Gillian Irving: 00:20:56

companies who will buy up whatever.

Gillian Irving: 00:20:58

That's correct.

Evan Ungar: 00:21:00

That's exactly right.

Evan Ungar: 00:21:01

That's exactly right.

Evan Ungar: 00:21:02

Yeah.

Evan Ungar: 00:21:02

Oh,

Gillian Irving: 00:21:03

that's fantastic.

Gillian Irving: 00:21:04

And, you know, can we just, I just want to circle back a little

Gillian Irving: 00:21:06

bit to the to the goal setting.

Gillian Irving: 00:21:09

I mean, obviously we want everyone to get your book, but are there a couple

Gillian Irving: 00:21:13

of tips, like just a couple of tips that you could give our listeners on how to

Gillian Irving: 00:21:18

get started with goal setting or some suggestions that you have about cause I

Gillian Irving: 00:21:22

feel like people make goals all the time.

Gillian Irving: 00:21:25

They're not necessarily followed through so how would you coach someone

Gillian Irving: 00:21:32

about creating meaningful goals that are likely to be followed through?

Evan Ungar: 00:21:39

That's an amazing question.

Evan Ungar: 00:21:40

It's the perfect question, so I hope I can give some amazing value here on it.

Evan Ungar: 00:21:44

I really believe that.

Evan Ungar: 00:21:46

You have to have a very specific goal.

Evan Ungar: 00:21:48

Don't make it generalized Oh, I want to be rich.

Evan Ungar: 00:21:51

It's okay you can't attract rich.

Evan Ungar: 00:21:53

You can attract 1 million by, you know, February 16th.

Evan Ungar: 00:21:57

Like that is a specific goal.

Evan Ungar: 00:21:59

And you can even dig in more.

Evan Ungar: 00:22:00

I want to make 1 million by February 16th by flipping homes or, you know,

Evan Ungar: 00:22:06

something super specific like that.

Evan Ungar: 00:22:07

That's.

Evan Ungar: 00:22:08

That's how you start with your goal.

Evan Ungar: 00:22:10

And you really got to come up with a, why a really deep rooted why?

Evan Ungar: 00:22:14

And that's your, why is your reason you're doing this?

Evan Ungar: 00:22:17

So you got to find something that's emotional to you getting out of

Evan Ungar: 00:22:21

bed for money very few people will.

Evan Ungar: 00:22:24

Overcome the obstacles, hurdles and speed bumps in the road to getting to achieving

Evan Ungar: 00:22:29

a goal just for like the goal itself.

Evan Ungar: 00:22:32

Like the money isn't the goal itself.

Evan Ungar: 00:22:35

The car isn't the goal itself.

Evan Ungar: 00:22:37

You know, lifting this amount of weight isn't the goal itself.

Evan Ungar: 00:22:39

It's like there's a deeper reason for it and you have to dig deeper for it, right?

Evan Ungar: 00:22:44

You know, maybe getting into better health will help you spend more

Evan Ungar: 00:22:47

time with your family for longer.

Evan Ungar: 00:22:48

Be around for your grandkids.

Evan Ungar: 00:22:50

Something like that is a really deep rooted why.

Evan Ungar: 00:22:52

Or maybe you want to earn more money to retire your parents or spend more

Evan Ungar: 00:22:57

time with your parents or your kids.

Evan Ungar: 00:22:59

There's so many deeper reasons as to why you're achieving these goals and

Evan Ungar: 00:23:03

having something that you can anchor in deep rooted emotion, that's what's going

Evan Ungar: 00:23:07

to get you out of bed in the morning.

Evan Ungar: 00:23:09

That's what's going to Keep you on track for your goals when, you know, all

Evan Ungar: 00:23:14

hell breaks loose and there's a lot of, you know, when it's raining out there.

Evan Ungar: 00:23:18

So you really want to have some deeper reason.

Evan Ungar: 00:23:20

And then the last thing I would say is you want to keep that

Evan Ungar: 00:23:23

thing, that goal in front of you often and keep reminders of it.

Evan Ungar: 00:23:27

You know, set a goal, wear a bracelet that like reminds you of this

Evan Ungar: 00:23:31

goal or, you know, manifest and.

Evan Ungar: 00:23:35

And.

Evan Ungar: 00:23:36

Say a manifestation every day while you're touching this bracelet.

Evan Ungar: 00:23:38

And then every time you see the bracelet, you'll be reminded of it.

Evan Ungar: 00:23:41

You know, Bob Proctor used to say, you know, bring a goal card with you

Evan Ungar: 00:23:45

and keep it in your front pocket.

Evan Ungar: 00:23:46

And every time you're putting your hand in your pocket, you feel this

Evan Ungar: 00:23:48

goal card has your goal written on it.

Evan Ungar: 00:23:50

And it reminds you of your goal.

Evan Ungar: 00:23:51

It's just these small things that keep you on track to achieve your

Evan Ungar: 00:23:54

goal that really keep it in focus.

Gillian Irving: 00:23:57

I heard Jim Carrey carried around a check for a million

Gillian Irving: 00:24:00

dollars in his pocket when that amount of money was just absolutely unheard of

Gillian Irving: 00:24:06

in Hollywood and that he would touch it, feel it, believe it every single day.

Gillian Irving: 00:24:11

And now it just seems of course he did, right?

Gillian Irving: 00:24:13

Because of course he would be the person to have achieved that.

Gillian Irving: 00:24:16

But that is just a.

Gillian Irving: 00:24:18

It seems like it's such a smart tool.

Gillian Irving: 00:24:21

Yeah,

Evan Ungar: 00:24:21

That's exactly how it works.

Evan Ungar: 00:24:23

I mean, you begin to think about it.

Evan Ungar: 00:24:24

You begin to attract it.

Evan Ungar: 00:24:25

You begin to consciously and subconsciously do the things

Evan Ungar: 00:24:29

that are needed to get there.

Evan Ungar: 00:24:31

You talk about it more.

Evan Ungar: 00:24:32

You act on it more.

Evan Ungar: 00:24:33

It's in front of your brain.

Evan Ungar: 00:24:34

Someone walks by.

Evan Ungar: 00:24:35

I mean, I'll give you a good example.

Evan Ungar: 00:24:36

This is the most ridiculous example, but we have a property that we're working on

Evan Ungar: 00:24:40

in Niagara region and it needs like we're building it basically from the ground

Evan Ungar: 00:24:45

up and we need to pour this foundation.

Evan Ungar: 00:24:47

Foundation quotes came in for concrete and I've been like meeting.

Evan Ungar: 00:24:51

I was like, I want to get a better quote for concrete.

Evan Ungar: 00:24:53

I want to get a better quote for concrete.

Evan Ungar: 00:24:55

And the other day I was talking to my business partner, Jordan about it.

Evan Ungar: 00:24:59

And at that moment I walked by and there was just a guy in the

Evan Ungar: 00:25:03

gym, walked by me with a shirt.

Evan Ungar: 00:25:05

And it said I pour concrete.

Evan Ungar: 00:25:07

Literally.

Evan Ungar: 00:25:08

And I just stopped him and I was like, Hey, what do you do for a living?

Evan Ungar: 00:25:10

He's Oh yeah, I have this business.

Evan Ungar: 00:25:11

I do concrete work.

Evan Ungar: 00:25:12

And I was like, Hey man, can you give me a quote for this?

Evan Ungar: 00:25:13

And he came in 15 percent cheaper than what we were looking for.

Evan Ungar: 00:25:17

And so this is perfect.

Gillian Irving: 00:25:18

But that's because you were.

Gillian Irving: 00:25:20

You were thinking about it.

Gillian Irving: 00:25:21

It was on your mind.

Gillian Irving: 00:25:22

You knew it was a priority.

Gillian Irving: 00:25:24

It was

Evan Ungar: 00:25:25

consideration with your goals.

Evan Ungar: 00:25:26

That's the problem is that I was on the phone and we're in

Evan Ungar: 00:25:29

the middle of building this out.

Evan Ungar: 00:25:30

So it's really easy for that to be a priority and be on my mind, but your

Evan Ungar: 00:25:33

goals that you're setting aren't like.

Evan Ungar: 00:25:36

Every day in front of you, every two seconds, the whirlwind of the

Evan Ungar: 00:25:40

day becomes really reactionary.

Evan Ungar: 00:25:42

And so your goals tend to fade into the background.

Evan Ungar: 00:25:45

And so that's really why you want to keep something front of mind because

Evan Ungar: 00:25:48

you're going to see those opportunities.

Evan Ungar: 00:25:49

If I, if that wasn't in the forefront of my mind, that guy probably

Evan Ungar: 00:25:52

just would have walked by me.

Evan Ungar: 00:25:53

I never would have seen that on his shirt.

Evan Ungar: 00:25:55

But now imagine your goal is something specific that you've created and

Evan Ungar: 00:25:59

it's in the forefront of your mind and you see a guy walk by let's say

Evan Ungar: 00:26:02

your goal is you want to work for, you know, you want to work for Elon

Evan Ungar: 00:26:06

Musk and directly for Elon Musk I don't know, something crazy like that.

Evan Ungar: 00:26:09

Sure.

Evan Ungar: 00:26:10

You're going to talk about it.

Evan Ungar: 00:26:11

You're going to feel it.

Evan Ungar: 00:26:11

You're going to, and you're going to remind yourself of it.

Evan Ungar: 00:26:13

And one day someone's going to say, Oh, I worked for this company.

Evan Ungar: 00:26:15

You had this big, Oh my God, you have a connection here.

Evan Ungar: 00:26:18

Can I talk to you about that?

Evan Ungar: 00:26:19

And so it helps you get to that goal for

Gillian Irving: 00:26:21

sure.

Gillian Irving: 00:26:21

But it does sound too, that you were, you have sort of long term permanent goals

Gillian Irving: 00:26:26

that are probably related to your health.

Gillian Irving: 00:26:27

Like I'm going to be fit.

Gillian Irving: 00:26:30

You know, I, one of my goals is to be healthy for my grandkids

Gillian Irving: 00:26:32

or whatever as a I'm a hopefully a long time away from that.

Gillian Irving: 00:26:36

I'm not, I don't even want to say that out loud.

Gillian Irving: 00:26:37

My kids are too young.

Gillian Irving: 00:26:38

But so you've got goals for that, like long term health.

Gillian Irving: 00:26:41

But you know, the foundation pouring for the house, like that's an immediate goal.

Gillian Irving: 00:26:45

So are there, so there's goals.

Gillian Irving: 00:26:47

Clearly for short term, mid term, long term, is that what you do?

Gillian Irving: 00:26:50

Or do you focus more on the bigger overarching goals?

Gillian Irving: 00:26:54

And then you make short term goals.

Gillian Irving: 00:26:56

How do you prioritize the ranges of goals?

Gillian Irving: 00:26:58

Because otherwise you could be making goals every day.

Gillian Irving: 00:27:00

Like you have daily goals, weekly goals, monthly goals.

Gillian Irving: 00:27:03

How do you structure it?

Evan Ungar: 00:27:04

So I would say the best way to do it is think

Evan Ungar: 00:27:07

of the biggest goal you have.

Evan Ungar: 00:27:10

Take any area that we spoke about.

Evan Ungar: 00:27:12

Health.

Evan Ungar: 00:27:14

Relationship, everything.

Evan Ungar: 00:27:16

And pick the goal.

Evan Ungar: 00:27:18

That means the most to you make it super specific, but make it huge.

Evan Ungar: 00:27:22

Make it so big that you're nervous talking to small minded people

Gillian Irving: 00:27:25

about it.

Gillian Irving: 00:27:26

Don't they call them BHAGs, the big, hairy, audacious goals.

Evan Ungar: 00:27:29

There you go.

Evan Ungar: 00:27:29

I haven't heard that before, but that's fantastic.

Evan Ungar: 00:27:32

Oh yeah.

Evan Ungar: 00:27:33

That's fantastic.

Evan Ungar: 00:27:34

So that's the type of goal you want to pick something really big and then.

Evan Ungar: 00:27:37

You're just going to what we call chunk down on that goal.

Evan Ungar: 00:27:40

So you have this big, huge goal.

Evan Ungar: 00:27:43

Maybe it's, I want to own 500 rental properties.

Evan Ungar: 00:27:46

That's great.

Evan Ungar: 00:27:47

Maybe you have none right now, but you want to have 500 and it's okay.

Evan Ungar: 00:27:50

You're not going to focus on owning 500 for tomorrow.

Evan Ungar: 00:27:53

You're going to plan this goal.

Evan Ungar: 00:27:54

You're going to say, here's what I want to have it done by, and then

Evan Ungar: 00:27:57

you're going to break it down via time and effort and what needs to be done.

Evan Ungar: 00:28:00

So maybe it's, I want to have 500 rental properties in the next five years.

Evan Ungar: 00:28:04

Okay.

Evan Ungar: 00:28:04

That's a hundred rental properties a year.

Evan Ungar: 00:28:07

You're going to be at roughly eight properties eight and a half properties

Evan Ungar: 00:28:11

a month you need to be buying.

Evan Ungar: 00:28:13

And that becomes your goal.

Evan Ungar: 00:28:14

And then you break that down and it's two properties a week.

Evan Ungar: 00:28:16

So okay, we gotta be buying two properties a week in order to hit 500

Evan Ungar: 00:28:20

properties by the end of five years.

Evan Ungar: 00:28:22

And that's really how you go from a really big goal that's five years away

Evan Ungar: 00:28:27

to a goal that you can focus on today.

Gillian Irving: 00:28:30

So that they're much more, otherwise, I guess you'd be

Gillian Irving: 00:28:33

paralyzed by the impossibility of it

Evan Ungar: 00:28:36

all.

Evan Ungar: 00:28:36

Of course.

Evan Ungar: 00:28:37

So you take a big, you chunk it down and then you create action steps on it.

Evan Ungar: 00:28:40

So that's your goal of, okay, I want to acquire two properties a week.

Evan Ungar: 00:28:44

Then you take that and you say, how many.

Evan Ungar: 00:28:46

How many properties do I need to analyze and underwrite a week?

Evan Ungar: 00:28:49

And then how many properties from the ones that I analyze every

Evan Ungar: 00:28:53

week do I have to make offers on in order to have a winning offer?

Evan Ungar: 00:28:57

And that's, and then you get to this point where you're like, great, I need to be.

Evan Ungar: 00:29:01

I need to be analyzing, you know, in order to pick up two properties a week,

Evan Ungar: 00:29:05

I need to be analyzing 30 properties a week and I need to be offering on 17.

Evan Ungar: 00:29:10

I don't know, whatever the numbers end up working out.

Evan Ungar: 00:29:12

And okay, great.

Evan Ungar: 00:29:13

17 offers have to go out a week.

Evan Ungar: 00:29:15

Now, what do I have to do?

Evan Ungar: 00:29:15

How many calls do I have to make to get 17 offers out?

Evan Ungar: 00:29:18

You just keep breaking it down until you have your.

Evan Ungar: 00:29:20

Routine your daily routine in front of you.

Evan Ungar: 00:29:23

And then basically from your overarching goal of 500 properties, you can have

Evan Ungar: 00:29:27

how many calls you need to make, how many underwritten properties,

Evan Ungar: 00:29:30

how many offers and the people you need to have in place to do that.

Evan Ungar: 00:29:33

And there it is in front of you, your daily routine to hit

Evan Ungar: 00:29:36

500 properties in five years.

Gillian Irving: 00:29:37

Do you ever worry about you know, I hear, you know, I do hear

Gillian Irving: 00:29:41

a lot of real estate investors talking about how they want these huge portfolios.

Gillian Irving: 00:29:45

And in many respects, I think that's great.

Gillian Irving: 00:29:47

Like I also have a big portfolio and always wanted a bigger portfolio,

Gillian Irving: 00:29:50

but sometimes I'm like, I wonder if you get to the top of that ladder

Gillian Irving: 00:29:55

and you're like, Oh my gosh, the ladder's up against the wrong wall.

Gillian Irving: 00:29:58

That's not the right goal that you work really hard.

Gillian Irving: 00:30:01

I mean, I suppose you have to really reflect about the why of it all

Gillian Irving: 00:30:05

because you could do the, you know, 65 calls, 17 offers, two houses a

Gillian Irving: 00:30:10

week for five years and have your 500 properties and go, Oh my gosh, has

Gillian Irving: 00:30:14

this brought me what I wanted, right?

Gillian Irving: 00:30:17

So I suppose at some point you need to make sure, I guess that's the reason why

Gillian Irving: 00:30:22

you have to spend so much time really understanding the why of it all, because

Gillian Irving: 00:30:28

I hear people put out these numbers I want, you know, 200 doors and I think.

Gillian Irving: 00:30:35

Why?

Gillian Irving: 00:30:36

What is your why for that?

Gillian Irving: 00:30:37

What is it you want from that?

Gillian Irving: 00:30:39

And some people I think want the, I'm more, I feel like my goals

Gillian Irving: 00:30:42

have changed from active management to more passive management.

Gillian Irving: 00:30:46

I'd rather just not do all the property management stuff necessarily.

Gillian Irving: 00:30:53

Yeah, but anyway, I just, I think it's safe to say that your why's probably

Gillian Irving: 00:30:56

evolve over time and you have to really spend a lot of time, not only.

Gillian Irving: 00:30:59

Figuring out what the plan is to make them work, but also reevaluating them to

Gillian Irving: 00:31:03

make sure that they're still authentic goals and still make sense for all

Gillian Irving: 00:31:07

the things that you want in your life.

Evan Ungar: 00:31:09

Absolutely.

Evan Ungar: 00:31:10

That is perfectly said the way you said it.

Evan Ungar: 00:31:12

I wouldn't add anything else to it.

Evan Ungar: 00:31:14

It's important for you to reflect often you know, once a week, reflect on how

Evan Ungar: 00:31:19

your week went and do a brain dump once a month, do a larger reflection.

Evan Ungar: 00:31:23

Once a quarter, do an even bigger one.

Evan Ungar: 00:31:25

And then once a year, replan your annual goals.

Evan Ungar: 00:31:27

Like your life is going to change when you're 18.

Evan Ungar: 00:31:30

Your goals will be different from when you're 25, 35.

Evan Ungar: 00:31:34

So you're going to have kids.

Evan Ungar: 00:31:35

You're going to have grandkids.

Evan Ungar: 00:31:36

Like your goals are going to dramatically change.

Evan Ungar: 00:31:38

I mean, your life will dramatically change and your goals need to change with them.

Gillian Irving: 00:31:43

Evan, I feel like I think we should leave it here.

Gillian Irving: 00:31:47

I would like to have you back again because I want to talk

Gillian Irving: 00:31:51

about so many other things.

Gillian Irving: 00:31:53

I feel like we've touched upon how real estate investors for

Gillian Irving: 00:31:55

people who want to get started.

Gillian Irving: 00:31:57

They have a sense of what tech capital does.

Gillian Irving: 00:32:01

Can you tell our listeners how they can find you where they can they follow

Gillian Irving: 00:32:05

you on social and where can they reach you if they want your services to get

Gillian Irving: 00:32:09

started for consultations for their small, medium, large, huge portfolios,

Gillian Irving: 00:32:13

or any corporate private companies that public companies out there who

Gillian Irving: 00:32:17

want to talk to you, where can they

Evan Ungar: 00:32:18

find you?

Evan Ungar: 00:32:19

So you can follow any of us on Instagram, of course at Evan Unger,

Evan Ungar: 00:32:23

or you can email me is the best way.

Evan Ungar: 00:32:25

It's Evan, E V A N at tuckcapital.

Evan Ungar: 00:32:28

com.

Evan Ungar: 00:32:28

And that's T U K and then the word capital C A P I T A L dot com.

Gillian Irving: 00:32:34

Fantastic.

Gillian Irving: 00:32:34

I hope lots of people reach out to you.

Gillian Irving: 00:32:36

I'm sure you're going to have so much helpful advice for them.

Gillian Irving: 00:32:39

And it has been such a pleasure talking to you.

Gillian Irving: 00:32:41

Thank you so much,

Evan Ungar: 00:32:42

Evan.

Evan Ungar: 00:32:42

Thank you for having me.

Evan Ungar: 00:32:43

I really appreciate it.

Gillian Irving: 00:32:44

I really appreciate it.

Evan Ungar: 00:32:46

Yeah.