Episode 41: What Are You Waiting For? Why Excuses Keep You Stuck In a State of Inaction

Listen Now!

In our latest episode, we dive deep into the world of real estate investment, offering invaluable insights for both beginners and seasoned investors. Explore the critical question of when to enter the real estate market, and why thinking short term can hinder your investment potential.

Prepare to capitalize on the vast opportunities in the real estate market by setting your mindset for success, and learn why treating real estate investing as a business, rather than a simple investment, is a game-changer.

We debunk the pursuit of perfection as your enemy in real estate. Tune in to this episode to unlock the strategies and mindset needed to thrive in one of the greatest markets in history. It’s time to take your real estate investment journey to the next level.

Resources:

• The Canadian Wealth Secrets Wealth Building Booklist 
• The Real Group Windsor Real Estate Team
• Canadian Wealth Secrets Ontario Mortgages
• Canadian Wealth Secrets Wealth Planning
• Download our Wealth Building Blueprint

Interested in Joint Venture Opportunities?

For those interested in being considered for potential Joint Venture (JV) opportunities, reach out to us here.

Contact Matt if you’re Buying or Selling Real Estate in Windsor or Essex County!

Reach out to Jon if you’re looking for an Ontario Mortgage, Ontario Mortgage Refinance or a HELOC in Ontario.

Get in touch with Kyle to begin your journey through his Canadian Wealth Planning System.

Check out the work Jon and Kyle do assisting mathematics educators and district leaders.

Watch Now!

00:00:00:06 – 00:00:24:06
Matt Biggley
Well, exactly how much are you waiting for prices to come down or is it 1%? 3%, 5%, 25%. What exactly are you waiting for? We deal with friends, colleagues, family members who’ve been talking about investing for years and four years and four years, and they haven’t done anything. And I think now it almost becomes a control exercise for them, saying, oh, it’s too expensive.

00:00:24:12 – 00:01:02:15
Matt Biggley
I can’t invest right now. I’m going to wait for things to come down. This is a marketplace, just like the stock market. The real estate market is a marketplace that we can’t control. And yet I think people want to control it. And so it turns into a complaint excuse or complaint mechanism for that. And real estate has ever only ever gone up and up and up over time, and it will continue to do so.

00:01:02:17 – 00:01:10:13
Kyle Pearce
Welcome to the Canadian Wealth Secrets podcast with Kyle Pearce, Matt Biggley and Jon Orr.

00:01:10:15 – 00:01:18:18
Jon Orr
Get ready to be tight as we share our successes and failures encountered during our real life lessons. Learning how to build generational wealth from the ground up.

00:01:18:21 – 00:01:54:19
Matt Biggley
Welcome investor students to another episode of the Canadian Wealth Secrets Podcast. So I was sharing a story with you guys. My father in law, who I love dearly, constantly, constantly reminds me that he bought his very first house for $45,000. Right? And yeah, please, 70 ish somewhere around there. So it was a while ago. But one of the things we hear so often with my clients in real estate, with real estate investors, is that they wish they had bought before.

00:01:54:20 – 00:02:20:22
Matt Biggley
They wish they had bought when things were cheap or they complain that things are so expensive. We’ve got some people hoping for an economic crash. We’ve got other people that just in a cycle of sort of wishing that things were cheaper and lamenting that things were cheaper before. And today I want to talk about that as an excuse that we use to keep us from moving forward.

00:02:20:23 – 00:02:43:12
Matt Biggley
Because on the flip side of my father in law’s story, I always say, Burt, but you sold your last house for $1.2 million. So you can’t argue both sides of that. Right? And I think it’s the same for all of us when we talk about I wish I had bought more houses ten years ago. I wish I had started investing earlier.

00:02:43:14 – 00:03:05:15
Matt Biggley
It was so much cheaper before. Our price is as good now as they were three years, five years, ten years before? Maybe not. But is real estate investing still a good thing? Yes, absolutely. And I think a lot of people out there getting stuck on this idea that real estate is too expensive, that they can’t find an entry point, that they’re waiting for a crash.

00:03:05:15 – 00:03:12:19
Matt Biggley
If they’re waiting for prices to come down. And I think for so many of our investors, students, people are getting really hung up on that.

00:03:12:21 – 00:03:30:24
Jon Orr
Yeah. So, Matt, you feel like right now you’re hearing about this timing. I want to time the right move. When is the right time here to get in? You’re feeling like this is a barrier to someone taking a step. If I’m listening right now and going like, yeah, I’ve been listening to these guys. I haven’t taken a step yet.

00:03:30:24 – 00:03:43:23
Jon Orr
Are you saying like this might be a barrier that our folks here that are listening need to get past in that? Also, if I’d taken the step, maybe they talked to people on a regular basis that they can help them with this step. Is that what you’re saying? This is a big barrier here.

00:03:44:00 – 00:04:03:05
Matt Biggley
It it’s a common refrain. I think it’s actually become an excuse for a lot of people. And my question is like, what exactly are you waiting for? So if, John, you’re waiting for prices to come down, Well, exactly how much are you waiting for prices to come down for? Is it 1%, 3%, 5%, 25%. What exactly are you waiting for?

00:04:03:05 – 00:04:25:20
Matt Biggley
We deal with friends, colleagues, family members who’ve been talking about investing for years and four years and four years, and they haven’t done anything. And I think now it almost becomes a control exercise for them saying, oh, it’s too expensive, I can’t invest right now. I’m going to wait for things to come down. This is a marketplace, just like the stock market.

00:04:25:20 – 00:04:51:08
Matt Biggley
The real estate market is a marketplace that we can’t control. And yet I think people want to control it. And so it turns into a complaint, excuse or complaint mechanism for that. And real estate has ever only ever gone up and up and up over time, and it will continue to do so. And so I think this is almost about calling people out to say like, hey, what are you waiting for a year to get involved in the game?

00:04:51:08 – 00:05:00:11
Matt Biggley
And if you’re waiting for prices to change or come down, what is it exactly? What specifically does that look like for you to make that choice, to jump in and get involved?

00:05:00:13 – 00:05:06:07
Kyle Pearce
You know what, I would really love to ask Burt, what was the price? 45,000. You said that he bought.

00:05:06:07 – 00:05:07:20
Matt Biggley
45,000. 45.

00:05:07:20 – 00:05:19:23
Kyle Pearce
45,000. Here’s something that I wonder if Burt remembers, if whether he thought at the time he got a deal, whether he overpaid or whether he was right in the middle.

00:05:19:24 – 00:05:21:07
Matt Biggley
Yeah, good question.

00:05:21:07 – 00:05:26:18
Jon Orr
I bet you he thinks, oh, I bought at the wrong time because interest rates were super high.

00:05:26:19 – 00:05:48:24
Kyle Pearce
Now I almost feel like he probably doesn’t think about that at all. But if you were to take time travel, do the whole back to the future thing or whatever and go all the way back. And in that moment, you’re probably right. He probably was like, I don’t know if I can afford this. I don’t know if the interest rates are too high, or maybe I could have got a better interest rate at that bank.

00:05:48:24 – 00:06:11:13
Kyle Pearce
All of these things that are big issues for us, big hold backs are not coming up now. And kind of like the piece that I think is really important for us to look at when you zoom out Now, that’s a pretty dramatic zoom out right when you think about him and his first house and who knows how old he was, whether he was 25 or whatever, so that over 50 years ago potentially that this happened.

00:06:11:19 – 00:06:30:13
Kyle Pearce
But the reality is that as time passes, it matters less and less. So if you do it now, it matters a whole lot. But the interesting part is when we look at inflations, sure, you can look at the CPI number, you can look month to month and you could see whether it’s up or it’s down or it’s whatever.

00:06:30:13 – 00:06:57:04
Kyle Pearce
But the reality is even when House prices do drop, they did drop over a period of time here in the past year. But that’s from massive, massive growth. So it’s like if you bought at that very peak, then yeah, you’re underwater and there are people who are quote unquote underwater. But if they were buying an investment and the investment was cash flowing when they bought, they are still cash flowing today.

00:06:57:06 – 00:07:27:02
Kyle Pearce
Unless they had less than a one year or they had a variable and they had poor terms or whatever it is. But the reality is, is that if you weren’t buying for speculation, you were in good shape. And then, Matt, the part that I’d like you to elaborate on a little bit here, because I think you do such a great job of discussing this idea of for those who are buying, say, a primary residence, which many of your clients are looking for primary residences, you also help investors.

00:07:27:02 – 00:07:48:22
Kyle Pearce
But typically people are coming in, they’re looking for their own home, which for the majority of people, they’re not thinking like, I’m going to live here for a year and then move on or even five years. For most people, they’re buying the next house in their life and they’re envisioning at the time that that’s their forever home. That’s like what most people do, and then they change their mind later in many cases.

00:07:48:22 – 00:08:12:08
Kyle Pearce
But the reality is they’re not looking for a quick exit in 12, 18, 36 months. And yet you still find even people in that world struggling to be able to make a choice and actually buy when in reality when you kind of zoom out like you did for Burt, it’s sort of like, does it really matter all that much if you were to wait?

00:08:12:08 – 00:08:27:12
Kyle Pearce
Right? It seems like more of a gamble to wait, hoping that things change rather than just if it’s the house that you really want and you can afford it, then go for it. Instead of just trying to be a bargain shopper 100%.

00:08:27:12 – 00:08:51:06
Matt Biggley
I had this conversation with a client just yesterday. He said, Matt, I felt like I bought at the peak and I feel like I maybe pay too much and I worry about getting it back. And I said, You have to change the way you’re thinking about your house. It’s not an investment. You didn’t buy an investment property. You bought a home for your family, a place to raise your kids, make your memories and actually live.

00:08:51:06 – 00:09:12:12
Matt Biggley
And I think as Canadians, we’ve been so spoiled since March 2020, that pandemic, in terms of the real estate appreciation, we’re up 36% from March of 2020. And so we’ve been tricked into thinking that our personal primary residences are actually investment vehicles, and it’s not supposed to be like that. We’ve got it mixed up, we’ve got it confused.

00:09:12:12 – 00:09:29:01
Matt Biggley
And so after we talked about it, he said, you know what, you’re absolutely right, because he said, I’m freaking out. I didn’t know what I should renovate what was going to be worth it. And I said, No, no, no, no, no. Calm down and enjoy your home for the reasons you bought it, which was to raise your beautiful family, to make memories.

00:09:29:03 – 00:09:52:15
Matt Biggley
And the good news is, over time, real estate always goes up. If you bought your primary residence with the intention of turning it around in six months or nine months or a year, well that yeah, you might be in some hot water because then you’re totally at the whim of the market. But if you bought it to live there with your family as you should have, then you’re going to be 100% fine.

00:09:52:15 – 00:10:16:20
Matt Biggley
So I think we’ve gotten confused about that. And sometimes I’ll talk to sellers that to put it very bluntly, was almost like they’re being greedy. A seller who bought a house for $280,000 in 2019 and didn’t do any work to it, turned around and say, I want 500 grand. And I’d say, okay, well, let’s look at what the market looks like right now and we’ll put it on the market for that.

00:10:16:20 – 00:10:32:07
Matt Biggley
And we’ll try to get you that. And that will stay in touch weekly. So here’s how many showings we’ve had. Here’s what the feedback has been. Oh, I think we need to talk about a price reduction. I see what I want. 500 grand. I would say. Mr.. Mrs. Seller, you haven’t actually done anything to increase the value of your home.

00:10:32:12 – 00:10:52:09
Matt Biggley
You’ve relied completely on the market for your appreciation and just like your home is appreciated, we now need to look at the market for the information about what your home value is. You don’t just get to pick a number out of thin air and decide that’s what your home is worth. That’s being in that emotional headspace and saying, I just like the sound of $500.

00:10:52:11 – 00:11:13:03
Matt Biggley
Do you like being on the phone today? Value? I had a consultation today on the phone with someone who said, I want 500 grand in my pocket, and I said, I’d love to get your 500. That’s winning the lottery. That would be amazing. I said, But I don’t actually get to decide what your house is worth. The market does, and I want to help you figure out what the market might think your house is worth.

00:11:13:05 – 00:11:36:04
Matt Biggley
And a lot of times I’m right. And sometimes I’m wrong. But the good news is we’re going to continue to interpret the market and really be fluid and active in interpreting what the market’s telling us. And that is ultimately what your house is worth. Your house is worth what someone is willing to pay for it. And so it’s an exercise I try to spend a lot of time walking sellers through because we’ve had these wild increases in our appreciation of our homes.

00:11:36:04 – 00:11:58:06
Matt Biggley
It’s been an unbelievable and unprecedented time in Canadian real estate history. And the good news is that’s going to continue for people in our area and Windsor-essex, there’s so much good economic news here. Our prices are on the way up. We have a fundamental housing crisis nationwide. So there’s really good news out there. But there still needs to be some rationality and we use that.

00:11:58:06 – 00:12:21:04
Matt Biggley
I try to infuse those conversations with data and with logic to say, here is what the market is telling you regardless of what number sounds good in your head, because there’s a lot of irrationality out there and I take a lot of pride in educating my sellers. So when we put a property on the market, it’s at a number that is attainable and it’s going to make them feel really good and be a great return for them.

00:12:21:06 – 00:12:23:11
Matt Biggley
But it’s also fair in that marketplace.

00:12:23:13 – 00:12:44:04
Kyle Pearce
I love it. And you brought me back to my childhood when you said it’s only worth what the market says it’s worth or what someone’s willing to pay for it. And I remember the first time my dad told me that I was collecting hockey cards and I was like, I want that rookie card. I was like, I will pay the Beckett.

00:12:44:04 – 00:13:00:09
Kyle Pearce
I don’t know if you want to back it. Back is in the Beckett Guide. I don’t know those people who remember that it’s a big down and it was a big deal and I was like it says that it is worth. I don’t remember what the number was but at the time like call it 20 bucks or something, right.

00:13:00:09 – 00:13:17:17
Kyle Pearce
And I’m like 20 bucks is pretty hefty for a little kid. And my dad looked me in the eyes and he said, It’s only worth 20 bucks if someone’s willing to pay it. And I’m like, Whoa. I remember as a child thinking, That doesn’t make any sense. It says it right here that it’s worth 20 bucks because you go to the store and that’s the price.

00:13:17:17 – 00:13:35:04
Kyle Pearce
And this is the price and that’s the price. But at the end of the day, it’s like you don’t understand that. But even people as adults owning these massive assets, right. This home, which a lot of people would call is just an expense. So to your point about it not being an investment, you’re home is something you live in.

00:13:35:04 – 00:14:14:22
Kyle Pearce
And we’re just lucky that it appreciates in value. Right? It also takes a lot of cost to maintain it and to pay for property taxes and all of those things. So it’s definitely not an investment. We’re lucky it doesn’t go down in value. So when I think about people who struggle with that, especially in a primary residence situation where they’re like, I want to time the market, but then they go out and they buy the Denali or this brand new car that’s now to get a fully loaded truck, you’re spending over $100,000 for a fully loaded truck and people are doing it or they’re leasing them for eight, nine, $1,000 a month and it’s not

00:14:14:22 – 00:14:36:00
Kyle Pearce
even theirs. And yet it seems like there’s no thought about it. It’s just like I need that truck. And that’s but that thing will go down in value. And yet this other thing luckily will go up in value. And yet, as we zoom out to five years to ten years to 50 years, like Bert did, it becomes just a detail that is going to be forgotten.

00:14:36:00 – 00:14:56:04
Kyle Pearce
Right. And when I look at the investment side of things, so we think about people who are listening to this show, you’re thinking about investments, you’re thinking about how do I build my wealth, how do I build that legacy for my family? And in reality, it really just comes down to is it a business or is it not?

00:14:56:04 – 00:15:28:00
Kyle Pearce
It’s like an investment is a business. Will this thing earn some money and of course the appreciation is the bonus that comes off the back end of it. So if I don’t get the timing perfect, it actually shouldn’t matter as long as those numbers on the front end are making sense so that I can hang on to that for the 510, 15, however many years it takes so that you’re not quote unquote upside down and you’re making money off of this thing.

00:15:28:03 – 00:15:53:05
Jon Orr
Well, I think you just kind of nailed it for these folks. You just said five, ten, 15. It seems that if I’m hung up on timing the market in getting in the market in the right time, then it’s like timing the stock market, right? It’s really like, how long am I really here for? It matters a lot if I’m only looking to be in this market for two years.

00:15:53:05 – 00:16:11:23
Jon Orr
Three years under five years, right? It matters a whole lot. If that’s my mindset. If I’m here, I mean, and I’m here and I’m out, think about day traders or traders. That timing makes sense. You have to think that way. So are these people that we’re thinking about, are these people that we’re talking about, are they thinking short term?

00:16:11:23 – 00:16:31:16
Jon Orr
Because it doesn’t even matter? He bought a $45,000 house 50 years ago. It doesn’t matter in 30 years what that house was, because it’s going to be more like you said, Kyle. It’s a moot point at that point because it’s not about timing. It’s about where’s your mindset in your time horizon of really what you’re here for, Right?

00:16:31:17 – 00:16:49:24
Jon Orr
Are you buying just to stay in it long term? Well, we are buying our properties. We’re only looking long term. You’re here. You’re keeping it forever because we want to eventually maybe refinance it and then keep it rolling here. It’s like we want that thing forever. So it doesn’t matter that we buy it now. We buy it last year.

00:16:50:04 – 00:16:57:19
Jon Orr
It’s about how long you vision this. So if you’re going long term, who cares? But if you’re going to short term, it does matter.

00:16:57:24 – 00:17:03:23
Matt Biggley
Yeah. And Kyle, how long have we been where did we buy our first property was seven years ago. Eight years ago? Yeah. Would it be better?

00:17:03:23 – 00:17:09:08
Kyle Pearce
First property is 16 July of 2016. I remember it like it.

00:17:09:08 – 00:17:35:22
Matt Biggley
Was yesterday from renegotiating with that guy. So seven years ago we are already talking like old timers. We saw our first property tripled in value right? We’re talking about the good old days when properties were cheap and plentiful. I sound like my father, like when we have those conversations, but we’ve only been investing for seven years and you longer in the U.S. but we have seen properties triple in value in that time.

00:17:35:22 – 00:17:58:00
Matt Biggley
And so the lesson the take away for people is you have to participate. You have to get involved because in another year, two years, five years, we’ll be talking about the values of today like they were extremely cheap. Right? Because over time, things only go up. And John, you’re 100% right. We are not speculators. In fact, we hate flipping.

00:17:58:00 – 00:18:02:04
Matt Biggley
I’ve got a flip going on right now. I hate it. I don’t I don’t want to be bothered. You guys are going to flip or.

00:18:02:04 – 00:18:05:23
Kyle Pearce
We’re going to sell it more.

00:18:05:23 – 00:18:08:19
Jon Orr
You said you didn’t do a flip again.

00:18:08:21 – 00:18:16:20
Matt Biggley
It landed in my lap. I had to buy it. I had to buy my guy. But our time horizon is like shoes on. It’s like it’s like sort.

00:18:16:20 – 00:18:20:19
Kyle Pearce
Of like shoes for you. You’re like, I can’t resist and I need another pair.

00:18:20:24 – 00:18:38:09
Matt Biggley
Well, yeah. I mean, here we are talking about this. I’ve had seven premier residences in 12 years, so I went from 170,000 for that first one that I have said, God, we should have kept that. We couldn’t have kept it. We needed to sell it to buy the next one. And here we are 12 years later buying million dollar plus homes.

00:18:38:15 – 00:19:08:09
Matt Biggley
And so that’s how it goes. But I think the point is, is it is real estate investing and investing as a whole. It is not a short game. We’re not day traders. We are not speculators. We’re not gamblers. We have made a bet on the greatest market in the history of humankind, the real estate market. Right. And so we have this passive appreciation that we 100% know with full faith is going to go up year after year after year, Will it flatten out?

00:19:08:14 – 00:19:33:21
Matt Biggley
Will we have dips? Absolutely. But over the course of time, over that long term that John saw about, it will without fail go up. And that’s or buying into it is beyond our control. So we are focusing on the things we can control. And that’s the difference. I think in mindset. People want to blame the market for not getting involved, for not participating, for not buying.

00:19:34:02 – 00:19:38:01
Matt Biggley
And that, my friends, is a huge, huge mistake.

00:19:38:04 – 00:20:05:20
Kyle Pearce
Well, you remind me of a number of things. I feel like a lot of people that have this mindset around, like I’m going to wait for prices to come down or I’m going to wait for a crash or I’m going to wait for blank. Often times, you know, while I don’t have any, let’s say proof, but I’m going to say I strongly believe that people that are making these claims and making these statements are basing it purely on sort of just I guess they hear what’s in the media.

00:20:05:20 – 00:20:31:07
Kyle Pearce
They saw headline, they heard whatever, but they actually don’t know. And I think it comes back to we’ve talked about it so many times before it when you don’t understand something, you don’t act if you’re worried about a housing crash happening because you read a headline, the next step would be like, if that’s a concern of yours and you’re hesitant to get into the market because that’s a concern, then you need to do your research.

00:20:31:07 – 00:20:50:10
Kyle Pearce
And me being the fact finder that I am is if I’m worried about that, I’m going to go down that rabbit hole and I’m going to figure it out. Right? If you want to use macroeconomics as a guide for you, then you better understand what’s going on in the market. When rates go up, you need to ask yourself, Well, why are rates going up?

00:20:50:12 – 00:21:08:11
Kyle Pearce
Okay, I go down that rabbit hole, okay, It has something to do with bonds when bond rates. Okay. What happens when bond rates go up? Okay. When does that happen? Oh, okay. When it looks like GDP is going to start slowing and the economy’s going to start saying, well, why is that happen? Oh, jobs is going to all of these things are connected.

00:21:08:13 – 00:21:26:06
Kyle Pearce
And there’s a lot of data that can help you make these decisions. But ultimately, as you go down that rabbit hole, you’ll start to learn what’s happening. But then you’ll also start to zoom out because you’re going to start looking at the big picture and go, Oh, yeah, at the end of the day, it still comes back to, Does it really matter?

00:21:26:08 – 00:21:51:24
Kyle Pearce
It doesn’t. It’s not going to matter. It’s not going to make that big of a difference in the end goal, because one day you’re going to be Burt and you’re going to look back and you either get to say, My first investment property cost me 45,000, or if it’s today, maybe it’s $400,000. My first investment property cost me $400,000, and no one’s going to ask you, did you buy it at top?

00:21:52:01 – 00:22:10:08
Kyle Pearce
Did you buy at a bottom? Did you buy right in the middle? No one’s going to ask you that. But then they’re going to say, What’s it worth now? And if it’s ten years down the road, maybe it’s worth 600. Maybe you’re lucky and it’s worth 800, maybe you’re lucky. You’re like we were, and maybe it’s worth 1.2 million.

00:22:10:10 – 00:22:31:20
Kyle Pearce
It doesn’t really matter. At the end of the day, is that as that time horizon increases, you’re going to be okay. The one thing that you need to focus on and I’m going to say it again, and I think this is going to be my big takeaway for the episode that I hope people take with them is if I buy this property today, is it a true investment?

00:22:32:01 – 00:23:06:00
Kyle Pearce
Is this a good business decision? When you open a business, this is like a Nelson Nash thing from Infinite Banking, from becoming your own banker. If you read that he talks about this idea of the startup cost of a business, because when you start up any business, there are costs and nobody opens a business with the intent to only keep it open for five months, a year, two years, they open a business because they want that business to be open for a very long time and oftentimes they don’t see profit in the first few years.

00:23:06:02 – 00:23:33:05
Kyle Pearce
So when you think about investing in real estate, you need to think of it more as a business, which means there may be the potential for short term losses, whether it’s paper fictitious, like the value of the building. But at the end of the day, can I keep this business going? Can I keep the doors open and can I keep my customers coming in, which is my renter’s or whether it’s commercial or residential?

00:23:33:07 – 00:23:53:10
Kyle Pearce
Ultimately, at the end of the day, you need to make sure that you can float this thing and you got to be able to float it and be able to navigate the first few years, just like any business owner must do in order to become successful. And then at the end of the day, it’s not going to matter when someone says, Hey, when McDonald’s opened, was it a good market?

00:23:53:10 – 00:24:15:09
Kyle Pearce
Was it a bull market? Was everybody going out for dinner? Nobody cares. All that matters is they made it past the hard part. And that, I think, is something that we want to keep in mind as we’re investing, is that that is the part that matters most, not where we are in the market cycle. Of course, if you’re a speculator, you got to pay attention to that stuff.

00:24:15:09 – 00:24:28:16
Kyle Pearce
And if you don’t know what you’re doing in a market cycle, then you need to sit it out. But if you’re doing it for business, then just make sure that you’re in it and you’re willing to battle that early growth that you need to have.

00:24:28:18 – 00:24:47:16
Jon Orr
It sounds like a great takeaway there, Kyle. Thinking about real estate as a business first and putting that in terms of the way a business would start up, that makes a lot of sense and then it’s really an investment. Second business first investment second. Matt, what would you say is a big idea you want to leave the listener with today?

00:24:47:18 – 00:25:16:10
Matt Biggley
Well, I think it’s really that the pursuit of perfection is what screws a lot of people up here. Kyle just talks a lot about timing the market. You can’t time the bottom. You don’t know the bottom of the market until the market is turned on its way up. If you were a real estate investing expert extraordinaire, then you would have known December and January where the bottom of our market were up 6% year over year from last year, up 8% from those depths in December.

00:25:16:10 – 00:25:39:24
Matt Biggley
January were up 2% from July. So you can never know what the bottom is. So stop trying for it and just participate. Get involved. The experts, the experts have been wrong time and time again throughout all of this. So I would actually say you can be that fact finder and go and do that deep dive and try to figure it out for yourself.

00:25:40:01 – 00:26:01:14
Matt Biggley
But I just think on a simpler level, I guess I just want you to get involved and participate. Kyle is 100% right. You want to buy something with solid fundamentals, you want to buy something that’s cash or you want to buy a good business from the start, But stop chasing perfect, because for so many people that means that they never start because they’re waiting for perfect.

00:26:01:17 – 00:26:21:00
Matt Biggley
And perfect is God. Perfect is in the past so many of us. I was a history teacher before. You know, we talk about revisionist history, which means like we rewrite history or we we remember history in a way which didn’t really actually happen. And a lot of us do that with real estate as well. Oh, ten years ago, I wish I bought every property I saw ten years ago.

00:26:21:04 – 00:26:49:22
Matt Biggley
I was just getting started and could barely afford my mortgage at 170,000 other house. Right. So let’s not remember things through that, those rose tinted glasses. Let’s take them for what they are. Let’s control what we can and let’s get out there and be active and be involved and be participatory, because that’s the only way that a few years from now you look back and say, Oh my God, those 2023 prices were so cheap.

00:26:49:22 – 00:27:16:06
Matt Biggley
I wish I bought every property I saw because look at where prices are now. That is the only way to do it. And I hope that the blunt force of our message today spurred some people to get over their just like weird self-talk cycles where they’re just waiting for that perfect property, where they’re waiting for the market to crash, where they’re just in this cycle of saying like, things are so expensive, things are so expensive.

00:27:16:06 – 00:27:35:23
Matt Biggley
I just had my biggest month of the year in August as a real estate agent. At the same time as hearing from almost every agent I encountered saying, The market’s dead, the market’s so slow complaining about the market. Right? So you can be the factor that makes the difference if you’re willing to put the work in, if you’re willing to go out there and get it.

00:27:36:00 – 00:27:56:04
Jon Orr
Love it. That’s a great message meant to end. Let’s call our folks to action. Matt has just called you out. Kyle has just called you out. Stop wasting time when you know these are the right moves. Just ask yourself, what’s your time horizon? What are you in it for? Hey, we want to thank you for listening to another episode of the Invest in Teacher podcast.

00:27:56:04 – 00:28:01:01
Jon Orr
If this is the first time you’ve listened to it, subscribe If this is the second time, hey, leave a review.

00:28:01:01 – 00:28:07:08
Kyle Pearce
Subscribe again. Well, sometimes like that was I’m a subscriber, so I don’t want that.

00:28:07:14 – 00:28:07:23
Jon Orr
I don’t want.

00:28:07:23 – 00:28:11:05
Matt Biggley
That. Careful, careful, careful. Leave.

00:28:11:06 – 00:28:13:14
Kyle Pearce
Or three times two or three. So I think it’ll work out.

00:28:13:20 – 00:28:35:16
Jon Orr
Your five star review will help the show grow, but it also will help that other person who’s trying to decide if real estate investing is the right move for them. It will speak to them just the way it’s speaking to you right now. So please hit that subscribe button. Share the podcast with your friends, your family, and you can follow us on all social media platforms at Investor, teacher run, YouTube, Twitter, Instagram, Facebook, all those things.

00:28:35:16 – 00:28:37:24
Jon Orr
So we’ll look forward to seeing you over there as well.

00:28:38:04 – 00:28:57:06
Matt Biggley
Our passion for talking about this stuff and sharing with you comes through, I hope, in every episode, all links, resources and transcripts from this episode can be found over on the website that’s invested. Teacher dot com Forward slash Episode 41 Again that’s Canadian Wealth Secrets dot com forward slash Episode 41.

00:28:57:08 – 00:29:20:23
Kyle Pearce
Hey there friends. As you know, I am engaging in all kinds of wealth architecture. Yeah that’s right. I’m hopping on calls with all kinds of invested students who are wondering about their future and setting themselves up, particularly those who are out there. Maybe business owners, those who have corporate structures, or maybe need a corporate structure. I’ve been doing a lot of calls.

00:29:20:23 – 00:29:42:06
Kyle Pearce
I’m having a blast helping people navigate in that land. Head over to Canadian Wealth Secrets dot com and you will see at the top there is a book, a call button. I’d love to hop on a call with you and try to get you on your next step to make sure that you have what you need in order to move along your wealth building journey.

00:29:42:11 – 00:29:59:22
Jon Orr
Alright, Invest in students Class dismissed.

00:29:59:24 – 00:30:15:17
Kyle Pearce
This is just a reminder that the content on this podcast is for informational purposes only. You should not construe any such information or material as legal, tax, investment, financial or other advice.

CHANGE YOUR FINANCIAL FUTURE