Smart Strategies for New Real Estate Investors

Make real estate investment your new reality.

Desmond and real estate guru Todd C. Slater explore the path to investment success for the average person. They look at the significance of defining your investing "why," the strategic approach to financial readiness, and the smart utilization of home equity to kickstart your investment journey.

Des and Todd walk you through the practicalities of choosing investment properties, focusing on markets outside the metropolitan areas for better affordability and returns.

From discussing market shifts and highlighting the power of real estate as a tool for building generation wealth for anyone looking to make their mark in the real estate investment sphere, Des and Todd present a roadmap for this reality.

Listen For:
1:20 The Importance of Knowing Your 'Why'
5:16 Choosing the Right Investment Property
11:06 The Goal of Breaking Even vs. Profit
14:39 Real Estate Investment Success Stories

Guest: Todd C. Slater
For over 30 years, Todd C. Slater has been a leader and innovator in the real estate world. Todd was one of the top Realtors Worldwide within the RE/MAX network, with a focus on protecting and educating his clients every step of the way. Todd negotiated thousands of transactions throughout his career.

Connect with Todd:
Email | YouTube

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Desmond can be reached at:

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Recorded in Sep 2023

Transcript

Desmond Brown (00:00):

One of the best ways to build wealth is through real estate. And if you're lucky enough to inherit property or you have a family member who's willing to give you a whack of bread to get you started, we sometimes refer to them as the Mom and Dad bank, or the grandma and Grandpa Bank. Then you're well on your way. But what about the rest of us, us ordinary people? How can we make a fortune in real estate on our own? I'm Desmond Brown and today, onsold in the sixth. I speak to a guy who says, wealth in real estate is very simple. Todd c Slater is the host of Simple Invested Podcast and Simply Real Estate, which is heard on radio stations such as Newstalk 10 10 in Toronto, and he joins me today on Sold in the Six. Todd, welcome to my podcast. Thanks

Todd C. Slater (00:57):

Thanks so much for having me, Desmond. It's great to be here.

Desmond Brown (00:59):

I've listened to you for years on the radio and it was such a thrill for me to actually have a chance to sit down and chat with you at Reality Conference last week in Ottawa. That was our Ontario Real Estate Association conference. And yeah, like I said, thrilled. And then I asked you if you would come on to my podcast and you agreed. So welcome.

Todd C. Slater (01:20):

Yeah, thanks so much. Listen, it's always great to talk to like-minded people like yourself. It's one of the things I have profound respect for yourself. You do try to educate people. I think that's really important. Us as professionals, I think the best thing that we can do is give the facts straight to the public. They need to know, and you live and breathe this stuff as I do. And I think the best thing that we can do is continue to educate the public as time goes on.

Desmond Brown (01:46):

Yeah, that's what we're all about for sure. So I get a lot of requests from people who want to come on my podcast, and most of 'em are American and they want to talk about investing. Sure. And I just kept turning them down. And then after bumping into you, I said, oh gosh, I've got somebody that can talk about investing. Finally, I have Todd c Slater and he agreed to come on my podcast. So let's just start with here I am, normal person out there. I want to invest in real estate. I want to start building up some wealth. What's the first thing I would do?

Todd C. Slater (02:17):

Well, Desmond, that's a great question. So one of the ones that we talk about during our seminar, and let me put it to you this way, the most important question everybody should ask themselves is why do you want to be a real estate investor? What's your true why and there's a reason for it. When you have markets that will shift, such as we just did with the interest rate increases over the years, there's a lot of people that ended up bailing out of the investment. They said, listen, we can't hang on, or maybe we didn't prepare for ourselves for it. So I think once, why this will allow you to then start moving forward. So what are we trying to achieve? So many people are thinking to themselves, Hey, listen, maybe I can set it up for my retirement. Maybe I can set it up for my kids next generation. That's really important, creating wealth. So there's a big part of people's why. So your first step always should be, you need to align yourself financially. And before you get too excited, before you start looking at properties, Desmond, my first recommendation is go to a really good mortgage broker that understands investment properties and have an open conversation and see what you can afford first and foremost, and then that's your starting point.

Desmond Brown (03:27):

Okay. So in most cases, it's going to be somebody who has a home and they will want to take some equity out of that home to invest in something else,

Todd C. Slater (03:36):

Correct? Yeah. This is something we see all the time. So people will be turning around. They might've had home ownership for the last five, 10 years. Greatest thing, Desmond, as a realtor, we've watched prices appreciate nicely. So the equity growth in their properties is there. Perhaps they've got a much lower mortgage. They paid a lot less for the property. So normally what they do is they've got this great equity differential, and then this is where they can go to their bank and start talking to them about lines of credit. Now, the reason why you want to focus on a line of credit as opposed to putting a new mortgage on your home, of course, is the fact that with a line of credit, you don't pay the interest on the money until you use it. Where if you were to refinance, take, let's say, a hundred thousand dollars out of your home to put down a down payment, you're paying for that right away, even if you don't own the next property yet. So smartest advice you can do. Somebody takes a look. Now, one of the most important things though, just so you know, the banks are going to ask for a new appraisal. They need to know what the property is. Even though you as a professional, Desmond could turn around and say, Hey, your house is worth a million dollars. The banks don't care. They're going to want an appraisal done.

Desmond Brown (04:38):

Yeah. Okay, so the appraisal, let's say the appraisal comes back at 2 million, you own, or actually you have a mortgage of a million dollars on the property, so you've got about a million dollars to play with, right? Okay. I know I'm talking pretty high here, and the numbers are if wrong, it's not unrealistic. Yeah, it's

Todd C. Slater (04:56):

All relative. Yeah.

Desmond Brown (04:58):

Okay, so now I found out that I have about a million dollars in equity. Let's go down a little bit lower, be a little bit more unrealistic, or I'm a little bit more realistic. Let's say they have about $500,000 equity in your home. I want to get something right. What type of things should I look at?

Todd C. Slater (05:16):

Well, keeping in mind what you're going to borrow, there's a certain limit that the banks will put on percentage wise on the home. So even if you've got a million dollars left in equity, they're not going to give you the full million. They're probably only going to give you about 400,000 because right now, that's how they work. They want to keep the loan to value somewhere around 65, 70%. They want to make sure that if anything happens, they've got lots of money to recover. When you take that money out, now you've got to start thinking to yourself, okay, what do we want to do? Do we want it close to home? Are we looking at something a little bit more affordable? We talk about the outer markets all the time with a simple investor because that's where the affordability comes into place. And I'm going to tell you nothing against the GTA. The only way a lot of people are making money is doing the speculative play by buying brand new condos, waiting five years and then maybe flipping them. But if you're going to be a real estate investor, I'd say go to the outer markets and go to the lower price range, because that way you're going to have positive cashflow.

Desmond Brown (06:11):

Where are some of these outer markets? And I know you talk about them in your seminars.

Todd C. Slater (06:14):

Yeah, it's not just where we have properties. I mean, we have properties all over Ontario, but more importantly, it is, I always say an hour out of the GTA. So if we go east, west, north, south, unfortunately you're going to be in the water. But if we take a look at things like Kitchener Waterloo, you can talk about things like London, Ontario, we can talk about st. You can turn around and start talking about alio. Even Barry, for that matter, there are marketplaces that are within an hour's drive that are a lot more affordable, and you start seeing that break even part with the ratios between rent and debt.

Desmond Brown (06:52):

Okay, so you're talking breakeven is a goal.

Todd C. Slater (06:54):

Well, here's the thing. When you qualify for a mortgage, it's important that the bank isn't seeing huge stress on your actual income, right? Because we do have to qualify. You still have to qualify for that mortgage. Just because you have equity doesn't mean automatically you get a property. So we have to talk about what they call total debt service. And so you have your TDS ratio and GDS ratios. So we have to make sure that you look at the affordability so you can get started and look, even if you're looking at a small property, let's say even in London, Ontario, for example, $250,000, you buy a property, 20% down $50,000, and there you go. You get the ball rolling, and then from there, the appreciation mortgage paid out, everything works, and you start seeing the returns.

Desmond Brown (07:39):

Okay, so let's talk about London then. Let's just use that market there. So you're saying you about 200,000, how

Todd C. Slater (07:48):

Much anywhere from, I would say two 50 to three 50 is a really good price point right now in London, Ontario.

Desmond Brown (07:54):

And what are you getting there?

Todd C. Slater (07:56):

Well, you're going to probably get anything from a one bedroom to a three bedroom condominium. And the good thing about that is the rents are very, very strong in a marketplace like London. I mean, you're getting $1,800 a month for a two bedroom, just so you know. And when you're looking at a purchase price in around 300,000, if you could think about that for a second and say, okay, so if you had to buy a condo in Toronto right now that would make the rents. You'd have to get something about $5,000 a month rent for the same price point of 800,000. You need to get five. It's not going to happen. And then of course, property taxes are higher and the GTA condominium fees are going to be higher. So yeah, when you take a look at big picture stuff, the outer market has that affordability flavor.

Desmond Brown (08:39):

So I buy a property in London, I live in Toronto. How do I manage it?

Todd C. Slater (08:45):

Well, there's different scenarios for some people. We still see the standalone managers that they want to turn around and do it themselves, and that happens sometimes they don't mind hopping in the car. They figure, Hey, look, it rather manage it. I want to make sure I take care of my own place. And that's good. When you get sick and tired of it, by then, you're going to probably want to look at a third party manager. So there are third party managers out there. There are simple answers to some of this as well. There's companies like ourselves. We have a full management system in place. So if you buy one of the properties from us, we make sure that you get rent every single month and no matter what, it's been managed. So there are different scenarios. I'm always going to encourage people, if you're going for the affordability, you're going to the older markets. If it gets too far, by all means hire a third party.

Desmond Brown (09:29):

So I guess for the condo, the maintenance is not talking maintenance fee, but maintaining a condo, it's fairly easy. Yeah, it's fairly easy. You start getting into

Todd C. Slater (09:39):

Standalone homes,

Desmond Brown (09:40):

Properties where you have one or two units, that's when things start happening.

Todd C. Slater (09:43):

Of course, when you talk about condominium, they're always the common elements, which means everything from the drywall out is the responsibility of the condominium. So there's not a lot that condominium investors need to do except when let's say a tenant moves out, then you're going to have to go paint it, maybe change your floors, throw into some new appliances. But that's more of a kind of one in every five years scenario. But when we talk about your standalones, and this is where we talk about student rentals, where people come in and they say, Hey, listen, I want to own a student rental house in Kitchener. Hey, listen, how a good luck. They are maintenance. They are maintenance driven, but I'm going to tell you there's some decent third party companies out there managing these things. It's not cheap. It's going to cost you for a bit, but ultimately in the end, you can still have peace of mind. You don't have to do it.

Desmond Brown (10:33):

Yeah. Okay. So you talk about getting rents to carry your expenses on a monthly basis. So your mortgage, your taxes, whatever else comes up. Pretty good goal. If you can break even, you don't want to be dipping into your pocket each month, we're positive cashflow would be ideal. How long should somebody hang in there and say, okay, look, I don't mind it breaking even on a monthly basis. When do I want to start seeing a profit on this? On a monthly basis though?

Todd C. Slater (11:06):

Yeah, but you see there is where I think there's a misperception in investment real estate. So I'm going to just give it to you straight. Great. Okay. So most importantly, Desmond, if you don't need the money, you don't want to do anything but breakeven. Okay? You want to just carry the property. You don't want money out of your pocket, but you certainly don't want to increase your income. Every dime you make after the fact is going to be taxable. It's going to push your income up. So we don't want to do that when we're real estate investors. The best thing you can possibly do is break even for a longer period of time. What we're going to do is we're going to get that mortgage paid down a little bit quicker. So this is going to increase our amount of equity in the property. So let's just sit back, let's things happen to real estate.

(11:45):

That happens naturally with you or not. And so when values go up, debt goes down, what happens? We get more equity. Now, the cool thing about that equity is that in, I use a five year cycle, but in five years from now, after buying an investment property, I can literally refin it as that property, take that money out, tax free, the money that I put into it, put it back in my pocket, and we're all good. Now we still have equity sitting in that property. It will still positive cashflow or at least break even, and it can create the cycle all over again. So this is the amazing thing. And if you take a look at all the major landlords, if you take a look at all the major REITs, they always focus on the model that they get, the mortgage pay down value increase, and they're able to utilize leverage because the magic word to all real estate investors is levered,

Desmond Brown (12:32):

Leveraged for sure. And that gives you the opportunity to go and pick up something else.

Todd C. Slater (12:36):

You got it. So properties, buy properties, that's one of the greatest things you can

Desmond Brown (12:39):

Do. Yeah. The other thing I guess that we've been spoiled with here in Toronto, GTA, is the appreciative value. Sure. And that's really helped people go out and get more and more properties as well.

Todd C. Slater (12:52):

Yeah. I am not really a doomsayer, but when I talk to people about standard appreciation on properties, you should use the number 2%. Okay. Even though historically throughout the GTA, it's been four, four and a half over the years. And then it's funny because during my seminars, I remember in 21 I was doing a seminar and I said to everybody, Hey, listen, use 2%. They said, Todd, you don't know what you're talking about. I said, thanks, I guess 25 years in real estate, I don't. But anyways, so what happened was is that I always say 2% because that's the one I can guarantee. And if I use my numbers correctly, it shows that I get a 25% return on my down payment every single year. Now, if you had a year like 22 and 23 where interest rates jumped, took more cashflow, market went flat, 2%, I guarantee you 23, if I said to people, Hey, listen, you made 2% on your property this year, they'd be thrilled. Definitely. And so there's the thing. So we have to downplay it a little, be consistent, know what you're doing, analyze the numbers correctly, and then you can move forward. So

Desmond Brown (13:53):

It's a really conservative approach. You need

Todd C. Slater (13:55):

To, okay, because look, you're not going to get rich overnight. And this is the thing, when people speculate on real estate, you shouldn't be doing it unless you have the ability to close. Unless you have the ability to carry those mortgages yourself, you shouldn't be playing in the game. And so always, always, always, if you're looking at investment real estate, if you're going to buy a unit, make sure if things go wrong, let's say the tenant doesn't pay you for three months. Can you afford to pay the mortgage? These are the kinds of things you need to have that backup plan in place all the time. Okay.

Desmond Brown (14:26):

Yeah. So you do this. This is what you I do. This is what you

Todd C. Slater (14:30):

Do. I am the simple investor.

Desmond Brown (14:31):

You got it. You definitely are the simple investor. Okay. Can you tell me some of your success stories, the success stories of people that you've dealt with?

Todd C. Slater (14:39):

Oh, sure. Happy to. Look, we've got over 1200 investors. We've got over 3000 units. I can tell you that the average investors probably has an average appreciation from their down payment of anywhere from 50 to a hundred percent annually. They've never missed a month's payment rent at all, ever, ever. Never had to pay for a repair. I'm pretty proud of my team and my staff. They've done an incredible job following our vision. And really, when we take a look at big pictures, we've had people that years ago they bought a property for $120,000 in Kitchener Property's worth 450. They only put $25,000 down, and today they have $300,000 more equity sitting in that property with a $25,000 investment. I mean, where do you get that kind of return? This is the thing about real estate. I think there's a lot of people that find fault in appreciation, but people have to understand, this is the world we live in. We can't build enough inventory. When you were on my show, we were talking about inventory. There is no inventory. We can't build it fast enough. Our population's going to grow exponentially in Canada. I think that the smartest thing that anybody can do, any one of your listeners, Desmond, any one of your clients, I'm going to encourage you. They don't have to buy from the simple investor. What I think everybody should consider though, is making sure you at least own some form of investment real estate, because you need that security.

Desmond Brown (16:06):

No, you really do. I think back to when my family first came to Canada back in the late forties, and the house that we had down in the Coxwell Girard area was, I think, yeah, they paid, my mother paid $13,000 for it, and that was it. She had two properties. She had another one at Greenwood in Gerard as well. And it's incredible. Over the time, I think when we finally did sell it, my mother passed away. We got 60,000 for it, which is huge. And on that street now, they're selling for 1.2. Of course. So it's a long game and people that have that patience just get in and hang on. And

Todd C. Slater (16:54):

With the interest rate increases, this is where there were people that were speculators coming into the market, and you see social media, a lot of them, a lot of doomsayers saying, oh, good. They deserve losing their money. Look, nobody wants to see anybody lose. I don't believe that landlords and real estate investors are greedy at all. In fact, true real estate investors, they're not making a whole lot of money every single day, but over 25 years of ownership, this is where their investment pays off. And this is what people have to understand to be a true real estate investor, you don't sell it within five years. You don't sell it within three years. You don't even sell it. You pass it on to the next gen.

Desmond Brown (17:34):

Yeah. Hang on. Yeah. Here we are in Toronto. Our average price is still like the 1.1 range. So what I'm hearing from you is get out of town. Get out of town state.

Todd C. Slater (17:47):

Yeah. Yeah. For, look, here's the thing. People in Toronto, and I'm glad that finally municipalities are taking off the handcuffs off people looking at doing duplexes and triplexes, I've always encouraged that. I had a good conversation with John Tory. I said, look, Mr. Mayor, we need to chop these houses up a little bit more. You should chop the titles ideally. So they're actually legal triplexes. So somebody could legally own the basement apartment. That would be smart. That makes affordability come into play. But if you can't do it, if you can't do something like that, it's really tough to be a real estate investor in the downtown court. And again, if anybody's buying brand new condos thinking you're going to flip them, look, there was some bad timing that happened in the last two years. There's some people, they lost their deposits. Some people are suffering from it. I caution people always about saying, and especially because there are those, I would say not always above board realtors sitting there saying, oh yeah, buy this condo. It's going to be great. Look, we can't determine the future five years out. We can't determine it one year out right now, especially with the Bank of Canada,

Desmond Brown (18:52):

And especially when it comes to, like you said, people that were lining up for these projects and so on, waiting years and years and years. And some of them, it's taking a lot longer than they ever thought should even put a shovel in the ground.

Todd C. Slater (19:05):

Yeah, for sure. I mean, there's been a lot of delays from a construction perspective, especially the GTA. And then we actually saw a bunch of builders just turn around and said, look, we're not going to build. They gave people back their deposits, but people were counting on that lower square footage price. Look, Toronto is a world-class city. People have to accept that. People have to accept the pricing of it. But if that's the case, then you're going to have to accept the world-class rental price. And people are jammed thinking that, well, we should get a one bedroom for 1900. How do you figure if it's a million dollar property, that means your landlord's losing $3,000 a month? I didn't know people were just nonprofit organizations all over the world.

Desmond Brown (19:47):

Well, Canadians love to buy real estate. Yeah. Canadians love it. And you talk about Toronto being a world-class city. I mean, we've always wanted to be a world-class city. We've always wanted be a London. We've always wanted to be a Los Angeles or a New York. But like you said, it comes with growing pains. Can prices skyrocket, and not everybody's going to be able to own. Not everybody owns in Paris. Not everybody owns in New York City.

Todd C. Slater (20:13):

Yeah. Well, you take a look at developers like one young, they went bankrupt. I mean, they're in receivership right now, and it's going to be the biggest tower in Toronto, of course. And now they're going to have to try to finish it, obviously from a commitment perspective. But look, when you start talking about $2,000 a square foot, that's amazing. But in New York, quite frankly, that's a deal,

Desmond Brown (20:33):

Right?

Todd C. Slater (20:34):

Oh, look at New York. That's a deal. But it's the mindset. And then of course people will say, well, hey, we don't have the income, right? So why are you buying it? Treat it People. Treat some this as a real speculative play when they don't have the education to do it. So before anybody does that, I'm always going to encourage you, do the facts. Make sure you know what you're looking for. Look, you want to be able to, if you have to bail out of your investment property, you want to have something that's also very saleable in a point where you don't lose your money. So this is why I say go to something more affordable. If you're looking at, for example, you and I were talking earlier about London. Look, there's a lot of people that can afford to buy a place at $300,000, but if you talk about a one bedroom, there's not a lot of people that can afford a million.

Desmond Brown (21:26):

Exactly. I remember way back in the day when I started in real estate in the eighties, a million, like million,

Todd C. Slater (21:34):

And that was the bridal pack.

Desmond Brown (21:36):

And it would take a year to sell. Yeah.

Todd C. Slater (21:38):

Would

Desmond Brown (21:38):

Take a year to sell. And that was like a luxury property. Oh yeah,

Todd C. Slater (21:42):

For

Desmond Brown (21:42):

Sure. Yeah. The first house I ever sold, actually, the first property I ever sold was a $50,000 condo there. Yeah. The first listing I ever got from, I was out door knocking in East York, and I got this one listing, and I remember I listing at 93,000 a single detach, and it wasn't selling. And I talked to my uncle and I said, we just can't sell it. He says, Des, you have to get a price reduction. How am I going to go and ask 'em to reduce the price? He goes, bring it down to 89,000. 89,000. I don't know if they're going to go for it. And they finally did. And we sold it for like 87. But those are the days. Oh,

Todd C. Slater (22:14):

Yeah. But here's the flip to that narrative. You'll have a generation right now, they say, look, see, you were able to buy a place for 80,000. Yeah. But people forget also the level of income back then. Back in the day when that price came out, teachers were making 12 grand.

Desmond Brown (22:32):

Wow.

Todd C. Slater (22:34):

My dad was a teacher. So it was sort of like, so you make $12,000 a year, you're buying a $90,000 house. Well, you're buying a million dollar condo and your salary's 150. Guess what? The numbers really haven't changed that

Desmond Brown (22:48):

Much. No. And the interest rates, when I started, they were 13%. Right. So I know, and I always heard from the other realtors, oh, when I started just a couple of years ago. 18. They're 18. Yeah. It's easy for you right now. And I remember one investor that I had, he says, I like to know 13% is good. I like to know that I have that for five years. I can work on everything. I know exactly what it's going to cost me per month for the next five years. And those were the days.

Todd C. Slater (23:14):

No kidding. Yeah.

Desmond Brown (23:15):

Okay. So you are the simple investor. I'm so impressed with this place here. I'm out actually doing this podcast at Todd's studio in Burlington, and I thought I was going to be going into the little industrial plaza and seeing this little studio. He's got this huge building out here, and I'm telling you, the simple investor works. He can advise you if you're looking at getting into real estate investment, get in touch with Todd c Slater, get in touch with a simple investor. And Todd, talk about your company a little bit for

Todd C. Slater (23:44):

Us. Yeah, thanks. I appreciate that. Look, we started 15 years ago in my mindset, and when I created this was the fact that I believe everybody in this world should own investment real estate. I think it's one of the most secure assets you can have to pass on to the next generation. I just never believed people should manage it. When I was a realtor, I was hired by all the major banks to sell the power sales. And one of the things I recognized going into these power sales was that the tenants had the money. They just knew more about it than the landlord did. So how you go in, they got a new car, new tv, new brand, new shoes, and yeah, they didn't pay the landlord for five months and the bank closed them down. So my biggest thing was that I wanted to create kind of an ironclad management system that's going to allow people to benefit from owning investment real estate.

(24:30):

And by the way, when you own with a simple investor, you always are the titled owner. We don't have any part of a share. We're just now your manager. We just manage the property for you. And it allows us to do it on a large scale. We always do it in a bigger development than when we buy it. And quite frankly, the most important thing I think for everybody is, is that when you think about your kids, the next generation, think about what they're going to need in the future. We take a look at cost of life. We retirement homes. I don't have a lot of faith in the government, nor the pension plans out there. So you know what? Create a little security and you can do it with real estate.

Desmond Brown (25:05):

Yeah. I'm inspired. Alison and I just took a loss on a property out in Canmore, Alberta. It didn't quite work out, and the interest rates went up. We were on a variable, and we were dipping into our pockets on a monthly basis. So we just sold it. But I think I may be speaking to you.

Todd C. Slater (25:23):

Listen, happy to talk to anybody. It's really easy to get in touch with us. It's the simple investor.com. And hey, by the way, Desmond, just so you know, coming up on April the 27th, it's a Saturday. We've got our simple seminar webinar, and it's not really, you can't buy anything there. I'm not trying to sell you a program. We try to educate people, have a better understanding of what investment real estate can do for you and your family.

Desmond Brown (25:46):

Yeah, no, definitely. And it's definitely something to think about. If you're out there, if anybody out there listening, you're thinking about trying to build that generational wealth, these are great steps. And you don't have to do it in Toronto, there are so many great opportunities, and Todd and I were talking about that before we started the podcast today on all the different opportunities around Ontario. And like he said, the beauty of this is, is that if you do deal with Todd and the simple investor, they'll look after the properties for you

Todd C. Slater (26:13):

A hundred percent. We do all the maintenance, the rents, we take care of everything. You'll never hear from your tenant. In fact, it's amazing. I'm about the investors that have been with me for 14 years. They said, I haven't seen my property. I've never missed a month's rent. And quite frankly, it's amazing. There's just an awe. And I always, and here's the thing to folks, I always get told it's too good to be true. Well, you know what? 15 years later, 3000 units that we manage, I guess it's not,

Desmond Brown (26:39):

Yeah, no, definitely. It sounds that way, but I believe, I really do believe. Yeah. Well,

Todd C. Slater (26:45):

You're right. You're here in our brick and mortar.

Desmond Brown (26:48):

Definitely. Okay. Todd, thank you so much for joining me on Sold in The Six.

Todd C. Slater (26:52):

Hey, listen, Desmond, it's been a real pleasure. Thanks for joining me also on Simply Real Estate and look forward to staying in Touch.

Desmond Brown (26:58):

And that's our latest episode of Sold in The Six. So there you go. If you're thinking of investing in real estate, get in touch with Todd c Slater at The Simple Investor. I'd like to thank my producer Doug down, and the producers here at Todd c Slater's studio that's Aiden for putting this podcast together today. And if you like this episode, please leave a rating, subscribe if you don't already. And of course, feel free to send my podcast onto a friend. And if you need to reach me, you can email me at des@desmondbrown.ca and make sure that you follow me on all of the social media platforms. And my handle is Des in the six, and that's number six ix. And if you're an agent out of town tuning in and you need someone to look after your clients in the greater Toronto area, please get in touch with me too. I promise your clients will be well looked after. Next time. I'm Desmond Brown.