Warehouse with the current tenant's equipment in place.
January 2022

J

Warehouse at the end of January.
Tenant is midway removing equip.

Warehouse Now.
Feb 20, 2022

Subject removal was yesterday and the buyer signed off.
If he backs out now, I keep the 100k deposit.
7 Weeks to go for this to close. It might close earlier if I can get everything finished and the buyer wants to move in early.

I will continue to look at apartment buildings 10-15 units. I will consider up to 20-24 units now if I think there is a good deal.

seems like your crushing it man, how far along are you to realizing the OP goal?

In rough terms..
Last month I was pulling in around $10,400/m Net. about 6400 from cash flow and 4000 from equity gains.
This does not include my income from my full time job as a property manager.
After selling the warehouse, that will be around $6200/m Net and a large pile of cash in the bank ready to re-invest .
I have earmarked 100k USD in a Limited partnership and am doing the paperwork now.
I have also earmarked 200k CDN for a fix and flip that my son will be working on.
I am still doing work on my own Limited partnership where I will be the GP. The last few properties that I reviewed are a bust at the values the sellers are asking for. I need something close to a 0.8% rule to work.

after that next apartment investment, I should be around 12k/month. with still half of the warehouse sale proceeds ready to invest. After the second apartment investment, I should be at 18k/month.

Timeline wise, I am already 59 weeks into this 104 week/2y portion of my plan. In another 10 weeks or so I will start my Real Estate Agent's (Trader's) course. I sill have a long, long way to go... 14.5 years.

I am too lazy to write a completely separate entry so I have just copied and pasted the current post from my blog on the RE server.

Closing was moved up on the warehouse sale to March 23... completed. We do not have a 1033 rollover here in Canada so I/my company will be paying a hefty capital gains Tax.

Prior to the close, there was a lot of fixing up to do. In the end I spent about 14k to complete all the buyer's requirements. In addition to that there was about 6k in outstanding rent due from the last tenant. I finally got quotes for all of the damage the tenant did. In addition to what I paid to repair the warehouse, the tenants did an additional 35k of damage. I am ok if I can get my lost $20k back. I have asked lawyers if they would be interested in taking this case on a contingency basis.

Things I am doing to keep furthering my goal of 100k per month net income.

1) Work as usual. I (one of the properties that I manage) was in the Richmond news. I had a tenant evicted for cause. The article does not have any names, so you would have to get a copy of the Arbitrators decision to see my name. That is not easy to get done in B.C. as the rules here heavily favor tenants. Just as that case closed, I have a new interesting issue. I have a hoarder in one of the units that I manage. I had to contact a specialist company that does crime scene clean up, meth lab clean up, bio hazard removal and hoarding clean ups. I managed to take a few photos of the unit from the entrance and at some places, the garbage is waist deep! It is a long involved process and the tenant can save themselves by cleaning the unit up. The specialist clean up company estimated that under 10% of hoarders do any clean up before being removed. I will let you know how that goes.

2) I am still looking at lots of "fair" deals that need lots of work. I keep looking for that "Great" deal. The goal is still an apartment building with 10-15 units. The last two contenders already had deals on the go, so I keep looking. This is my main focus.

3) In addition to looking for that apartment, my younger son has become interested in RE. He had a classmate that completed a Fix and Flip last summer and now he and another classmate are looking to do the same thing. I will be helping him out with the down payment and cosign if he needs me to. 200k may turn into 300k as my son has started sending me his listings. The asking prices are 400k but there are bidding wars going on and they are selling for +520K. The style of offers going on right now is that the house goes on the block and the ad says that they will wait for say 2 weeks and then consider all the offers they get, very similar to a secret auction. He and the other classmate do not have enough income to qualify for a bank type loan. They will likely get a hard money loan and keep it as short as possible.

4) Lastly I made that small 6 figure investment in a Limited Partnership. The general Partner is Western Wealth Capital. They have a stellar track record and two people I admire as the company's principals. WWC has projects that come up every 2 months or so looking for funding.

So the Sale of the Warehouse closed. I got a big fat deposit in my bank account. I put 600k into a cashable GIC. Those funds are in reserve to pay for my capital gains next year. In addition to the sale funds, I have withdrawn almost my full amount from my HELOC at a decent rate. I don't remember if I wrote about it two months ago, but since then, the interest rate has gone up by 0.25 and 0.5% so far. I expect it will go up again in two months.
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Things I am doing to keep furthering my goal of 100k per month net income.

1) Work as usual. I got my emails in my inbox down to zero at the end of Thursday April 14 which is a feat. I inspected the hoarder's unit with the owner. Wrote a letter giving the tenant 7 days to clean the unit up before a re-inspection as required by section X of the tenant's lease. Same result on second visit. Took photos of the mold on the walls/glass, flies, open rotting food etc. Next step will be notice of eviction. They will very likely not leave on their own power, which will necessitate further action. Stay tuned.
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2) I contacted a second lawyer regarding the amount owed to me by my ex-tenants. They steered me in the right direction and are willing to take this case on for a % (probably 50%). We will keep it in small claims and go for the full $35,000 maximum. I believe with my documentation I can get the proof of what is owed up to about $45,000, but we will look better by dropping it down to $35,000 and keeping it in small claims. I have already begun to map out the history and supporting documents. I will probably go with the second lawyer as my lawyer says he is tied up for the next two months. (another litigation I assume)
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3) I have found a fair deal , asking $2,280,000. for 20 units close to downtown Edmonton and McEwan University. I asked my agent to do some looking into this property. It was for sale for a full year ago and didn't sell. It was taken down, and was put back up about 2 months ago.
I have made an offer at $1,950,000 which would be a good deal for me. I can go up to $2.08M and be ok, assuming the building condition report does not have any red flags. I will see if the seller is insulted and tells me to take a hike or is willing to negotiate. I figure if he had it listed for a whole year, his asking price is way off. I don't rely on Pro forma and cap rates as the Pro forma is 90% made up (hypothetical) - income and expensed the seller has decided on. During due diligence I will do all my calculations based on actual income and expenses.
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4) nothing to report with my younger son. He made an offer on a home, but is in the middle of finals so I don't bother him about what is going on. He has a good group of people around him.
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5) I already told my agent, if item 3 does go thru, I will be starting to look for the next apartment building to purchase. I told him to give a ++ to properties where there is individual meters and the tenants pay their own gas and electricity.
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6) lastly i have registered for the traders Real Estate License. I have a year to complete it, but will likely take five weeks to complete the 20 assignments and a month to write the exam. I have a bit of flex there, but I definitely want to have it done by the end of 2022. I will be looking for a real estate company to join at the end of 2022 or early 2023.

Quick update on 3)

I have found a fair deal , asking $2,280,000. for 20 units close to downtown Edmonton and McEwan University....
The seller came back at 2.15M.
I asked my agent to give him another counter at 2M flat.
I will let you know how that goes.

First 4 months.. of 2022.. books I have read so far,

In Order to Live Yeonmi Park
Lives of the Stoics Ryan Holliday
The Smith Manouevre Robinson Smith
Clash of Cultures Jack Bogle
Notes from the Underground Dostoevsky
Life's Golden Ticket Brendan Burchard
Poor Charlie's Almanac Charlie Munger
Dune Frank Herbert

currently reading Superintelligence Nick Bostrom and
High Performance Habits Brendan Burchard
I will also be reading the text to complete the RE Agent's course staring in May.

Another Quick update on #3.

After some more negotiation we settled at $2,050,000. I have 45 days for due diligence and subject removals.
have about a 50/50 chance of going out to Edmonton at the end of May to do inspections with an Engineer.
I will be following a procedure list prepared by one of my other partners in a previous investment.
He had 46 steps in his process. Mine will be around 35-40 as 5-10 of his steps involved getting permits and contractors to
work on legalizing and renovating a new unit.
Step 1 was signing the accepted offer. Step 2 is the deposit.
I have already emailed my Agent and asked for the Trustee's banking info. I will have to do a $25k deposit in three days.
I have already emailed an Engineering company and requested a Depreciation Report.


Update on #4.
My son's offer was accepted on his Hamilton Ontario Fix and Flip.
I think the price is something like $535,000. He closes on May 16. I don't know how much information he will be sending me
as I usually only reply to his questions.

Finished reading Superinteligence.
I felt like a dope reading that. It was written by a guy with a 160 IQ for people who are 150 IQ like Elon Musk.
Boiled down to one sentence. There is a serious threat that we will create an AI that it will become an existential threat and end life as we know it...
and by as we know it, may have some very weird interpretations. The example that they give is an intelligent computer that is designed to make paper clips... becomes superinteligent and starts to take over other computers and machines in an effort to make more and better paper clips... eventually turning the world into a paper clip making planet.
The author did not write down to the common reader.
In about 100 pages, i had to look up...
melioristic
ludic frisson
axiology
eusocial
emulation ur-template
akratic
schelling point
eiditic
in silico
nidiguguous
anthropocentric
accretion
wireheading
desiderata
a priori
pentultimate
ontological
obeisance
de novo
epistemic deterence
CEV.. coherent extrapolated volition
surefeit
subsumption
I am sure I spelled one or more of those incorrectly as all of them are underlined in red!
Its funny. I have a fair understanding of each word of CEV but put them together and it is meaningless to me.
CEV means..
our wish if we knew more, thought faster, were more the people we wished we were, had we grown up farther together, where the extrapolation converges rather than diverges, where our wishes cohere rather than interfere, extrapolated as we wish that extrapolated, interrupted as we wish interrupted.

On to easier reading.. High Performance Habits and my Realtors text book.

Another Quick update on #3.

I got the paperwork of income and expenses for the last three years on the apartment building I have under contract. I did my own calculations and it looks like the property is losing money (if the mortgage is included) . NOI is positive and the Cap rate is about 3%. After the mortgage payment, the property has a negative cash flow. Cap rates in the area for similar properties are around 4.5%.
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From the paperwork, and reviewing the income, it looks like the property has an average of 3.5 vacant units (out of 20) every month. The actual number is 83.5% occupancy.
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For what it is worth, (IMHO) this is potentially a good thing. My wife hates it and would rather have a property that is positive cash flow now. What she does not consider is that because the income/expenses look so poor, I MAY be able to purchase this property for much less than I offered.
I sent the paperwork to my broker who came back with the figures and Estimate of what I can expect as a commercial loan based on the property's income. It was a disappointing $675,000. This is amazing in my point of view. I was/am expecting to be able to put down a 50% deposit of say 1m and get a loan for the rest. Since the banks won't lend much on this property, We will likely fail at the subject removal date because of lack of financing. My Realtor sent the same info to his mortgage broker to see if he can get more financing.
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From my point of view, I have two choices now. If, say I do want this property, I can go back to the vendor and tell him, "your properties' performance is sub par and the bank will only lend $675k on it." Drop your price to 1.8M or something like taht, I will come up with 125k more of my own money and remove the subjects. If not, I will just pass on the property and keep on looking.
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Why I like the low occupancy and NOI based on the low occupancy is that this is my day job: to fill vacant units with good qualified tenants. There is also a second even more important ACE i have up my sleeve.
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This last week I contacted a colleague of mine. We worked together while I was a Strata Manager (HOA Community Manager for those in the U.S.) We had a discussion about 3 years ago about his friend from China who was interested in bringing in students into Canada to Study at Universities and was looking for a contact who could supply a large number of rental units in different cities. Well I contacted this colleague this last week and he put me into contact with the English Translator for this person. I wrote that person an email, introduced myself and gave him a short background. I let them know I did ¬not have a large number of units to start, but that I could start with a small number and then let it go/grow from there. Including the possibility of purchasing another building. What is also really good is that I can supply these units as "furnished" rentals and charge maybe $200 more per unit.
=======

chinese studying abroad are by and large very wealthy and have no fs to give

whether this makes them easier to deal with (happy to pay for convenience) or more difficult (happy to punt a deposit and leave you with lots of headaches) i have no idea

glgl

Both can be true, and are to an extant. Protect yourself against downside as much as you can (to the extent possible). Deposits should be mandatory and punitive.

The way that I would likely deal with the foreign students is that they would be prepaying for the unit for the entire year!
The security deposit would still be 1/2 month rent.

Update on #3,

The apartment building that I was reviewing turns out to have a very poor NOI. Even with my reducing the vacancy from 3.5 vacant units per month toi 0.5 vacant units.. say from 82% occupancy to 95% occupancy, I sill cannot get the Net Operating Income to cover the expenses and leave enough positive cash flow to warrant the investment. Essentially i ran all the numbers through a program by Bigger Pockets that turns out a report that i can give to investors. The numbers look so poor that even with the seller dropping the price another $100,000 I could not convince any other investor that this would be a good deal.
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I had a 1h discussion with my RE Advisor and we agreed that I would look at apartments in worse neighborhoods with better numbers.
The apartment that I am giving up on , is in a good neighborhood and 1.5 blocks north of MacEwan University. there is also a rail stop 2 blocks away that goes directly to the University of Alberta. The Appreciation would be better, but potential appreciation does not show up in a report when I am trying to get a limited partner to invest.
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I have found a new property, also 20 units 2 km east of the original one. There is no future LRT there and the nearest transit stop is two blocks away. In compensation, the income for the building is $50k higher per year and the expenses are $40k lower. I will grind these numbers and come up with an offer amount this week.
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Lastly I did reply to my colleague's friend and we have begun a conversation about bringing students from China to Edmonton. They currently do not promote anything in Alberta; only BC and Ontario right now. This may take a year or more to get going but I am willing to put in the time and see if I can get them to consider promoting Edmonton. I did some home work and sent them a report... approximately 6700 students from China study in Edmonton each year. Say divide that by 5.. 4 years of undergrad and some post graduate studies, means that roughly 1300 new students come from China and study in a 1st year undergraduate program.

Update on all items..
Things I am doing to keep furthering my goal of 100k per month net income.

1) Work as usual. I am on week 73 or so out of (two years in this portion of the plan as a rental manager) Everything is mundane now: Signing leases, move-ins, move-out inspections, credit checks, repairs on units, Financial Statements, writing notices to tenants for all sorts of standard stuff. The only new item is that 1%. I have a hoarder that I am in the process of evicting. I made a submission to the Residential Tenancy Branch. The application was +50 pages with photos etc. The other thing that was new that I had to do some homework on was looking into Collection agency practices . Our company manages around 1800 or so units and has an astounding $400,000 in collections over the last six years. Everything beyond that is statue barred. I learned something new in this job.. NICE!
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2) my ex-tenants.
I sent a proposal to the ex tenants for 1/2 of X. X is what will be in the notice of civil litigation. In BC that is a $35,000 cap on small claims court. so I asked for a $17,500. I told them that I didn't care if my lawyer or they got the other half.
one of the two parties agreed, the other party has not replied. I told them that if they didn't settle before my lawyer serves them, it will be $17,500 + legal fees. I am in no rush as we have two years from the move out inspection date to file the notice with the court.
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3) The deal did not proceed, as the deal did not pass the subject removal. (financing) The next property that I wanted to make an offer on was about 2km to the east towards the less nice side of town. The numbers looked much better. The income was +30k and the expenses were similar to the last deal. This one was also 20 units. It was situated half way between two different universities. (2km to either, so not walkable to either university.) The first property was 2 blocks from University A and 4km from University B. Turns out there is an offer on that property so I did not ask my agent to send a back up offer. As things are turning out, I still have all my funds in place and the number of listings of apartment buildings, that have had price drops has gone from Zero six months ago to about 5%. What is really nice is that I borrowed funds around 2.5% only six months ago.. and now I can place those same funds for 2.4%.. and soon to be higher interest at the same bank. We have had 3 rate hikes since i borrowed my funds and it will soon be 4 rate hikes. If you are reading this sometime in the future, this is just a week after the US Fed raised interest by 0.75% for the first time since 1994, 28 years ago.
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4) My son closed on his house about 2.5 weeks ago. 2 weeks ago they started interior demolition. I have a meeting this evening with him and will continue to face time him every 2 weeks or so.
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5) I have to admit I am still looking for properties, but it is at a much slower rate. I really want to find a good deal.
Just like the stock market has taken a huge hit in the first six months of 2022. I am now making about 10k of equities purchase every week and plan to continue for the next 4-6 months. I can't find the exact bottom, but I won't complain if the market continues to go down.. I am still up around 6am every morning and on the treadmill watching the market open at 6:30.
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6) I have completed the first three assignments of the RE Traders license.

1) finished week 86 i think, so I am down to the last 14 weeks working as a property manager for a large RE company.
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2) Ex tenants agreed to a settlement. They have started making payments on the 15th of this month and will continue for 8 more months.. approx 2k/month to pay off the debt.
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3) I am only looking at RE to keep up to date on the cap rates and to see if the prices are coming down. I have changed my focus onto equities and have been slowly accumulating stocks every week. Of course I won't time the bottom but I know the bottom is somewhere between 3-18 months from now. My number 1 pick is Tesla. For some reason I see Tesla as Apple was before it broke out. The people who own one wont' shut up. They love their Teslas and the rest of the world will take 1-2-3-10 years to figure it out. They hate Tesla and Love ICE car makers as much as I hated Apple and loved PC's in the early 90's. BTW, I own two Tesla vehicles now.
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4) My son finished the reno on his house.


The house looks great but of course there are no buyers out there.

Plan A) is to sell the house to a buyer. Plan B) is for my company to buy the house.
He has it listed for 699K. If it is not sold by Nov 19, 2022 my Canadian holding company will buy it and hire a PM company to rent it out, as that is when the Hard Money Loan he got is due. (at 9.5%)
https://www.realtor.ca/real-estate/2...treet-hamilton
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5) I am still getting up around 6am every day to exercise and watch the market open. Still buying around 10k of equites per week. (sometimes more)
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6) I have completed something like 13 assignments and am down to my last 2 assignments. Some of the stuff is really easy for me, like estimating the value of a property using comparison and using NOI and cap rates. It is what I have been focused on for the last 12 months. I will be taking the final exam next month or in November.
I have put the bulk of my regular reading on hold as the text book for the course has been taking up most of my reading. On a side note, I have been actually reading the Bible as my other "classic" text. I do not think that i know anyone other than a priest who has read the entire Bible. My other books are piling up.. but as soon as I pass this RE lisencing course I will get back to it.
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7) I am still going to RE meetups 1-2 per month to keep building my network.
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8) I received an out of the blue offer on a Single Family home that I (my US LLLP) owns in Detroit City. I have had a good tenant in one home for the last 12 years essentially and the grand daughter of the tenant wants to buy the home for her GM. It took about 2 weeks of organizing and providing the correct information. I purchased the home in 2010 for around 40k CDN.
Back then the USD and CDN were virtually on par, so 40K USD. The offer was for 135K USD. Nice! I told the buyer that I was not looking to sell but I would since the tenant was the GM.
The rent on the unit is approximately $800/m (USD), so even if the deal does not go through I won't be sad.

1) finished week 89 . I will start looking for a RE company to join at the end of next month, assuming that I pass my RE Trading licence from #6 below. I also think I should take the update classes for Strata and Rental so when I re-license as a Realtor, I will still have all 3 licenses. I will have to check this to see if I need to work for a company that has a broker with all three licenses as well.
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2) Ex tenants are on schedule for repayment of damages. They have paid 4/17.5k so far.
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3) I keep on investing in the market each week. I can't time the bottom, but I have lots of cash sitting on the side to buy stocks on sale. I just have to keep my eye on the long term... It will take the stocks about 2-3 years to rebound to 80-90% of their max. Maybe hit a new high in Year 4?!
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4) My son finished the reno on his house.
Going with Plan B. There is no interest from any buyers on the house even with a good discount.
My Canadian holding company will buy it and hire a PM company to rent it out. I have contacted a lawyer to prep the conveyance. I have also contacted the Property Management company that I want to manage this property. Since I don't need financing, (an appraisal by a bank and inspection etc. ) I will try and get a quick closing; Oct 24 or so if possible. Not sure what the income from the property will be yet, but I am estimating around $3500/m net. Will spell it out when I get the exact figures.
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5) So, buying the house in #4 has replaced my looking for an apartment building in Edmonton. I will restart looking in 2 years? after the market recovers and I start selling the equities that I am buying in the next 12 months.
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6) I have finished my assignments. got 20/20 on the last assignment and didn't really read the chapter at all. The answers were kind of obvious when you work in the industry all the time. My exam is booked for Nov 29. I have booked that day and a day one week earlier to write a mock test. 70% is a pass.

on page 610 of the Bible.
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7) I am still going to RE meetups 1-2 per month to keep building my network.
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8) All of the paperwork for a sale of this house in Detroit is complete. Just waiting for closing.
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9) Vancouver Warehouse. We have upped the payments to the investors to $1300/m. No plans to sell. Will check on this again in May 2023. (when the rent paid by the tenant goes up)

1) 2 years as a Rental Manager
finished week 90 I will have to go back and see where this puts me in my 20 year plan.
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2) Settling the accounts with the ex tenants of a sold warehouse. (for damages they caused + unpaid rent)
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3) Equities Investing. More investing. Last week I purchased more Tesla at $210 USD/share.
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4) My son finished the reno on his house.
Arranging insurance on the house. Arranging the Utilities. Arranging the Property Management Company.
Closing Date is Friday October 28th.
As part of the activity in my Canadian Holding Co. I will start doing a monthly report. It is just too difficult
to keep track of things at year end. I am always looking at income and expenses and can't remember what
they are all for! This should also keep me on track for all Taxes due.
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5) So, buying an apartment building in Edmonton is on pause for 18-24 months. Depends on the market.
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6) Realtor License. Waiting to write the prep exam and real exam. I also got notice that I have to take
several Legal update courses to maintain my Strata/Rental license. I will have to look into that as the licenses need
to be renewed every 2 years.
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7) RE meetups:
Next meetup is in two days.
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8) The buyers asked for a further discount as the quote by HUD was light and my PM in Detroit gave them a
quote for some of the fixes required. The quote from my PM, (Shea Woods) who always gives good quotes was $2000 over HUDs number,
so I gave them another $2k discount. Told buyer not to ask for more as they won't get it. Just waiting to close now.
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9) Vancouver Warehouse. Working on fiscal YE documents.
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10) Sarnia. Not sure if this was reported before, but I invested in an apartment in Sarnia with 4 other investors about 3 years ago.
We have our AGM this Friday Oct 28th, the same day we are supposed to close on #4 above.

Update on #4, #10
4) Closed on this property Yesterday . (Oct 28, 2022)
Insurance, Utilities active. Arranging a meeting between my son and the PM.
Will ask my son to take some photos/ walkthrough and hand over keys to new PM.
Next week.
10) Had an update on the building. This property has an amazing 5y term, 1.5% mortgage on it.
Building is doing ok. Standard stuff, updating units as they turn over. Increasing rents, is offset by rising cap rate.
We still have 2.5y left on the 1.5% mortgage, so we will not have to make a decision on
Refi +payout or Sell for at least 2y.

Important part at NEW item #11 below
1) 2 years as a Rental Manager
finished week 93 .
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2) Ex tenants are paying on schedule. Will take another 6-7 months to settle this issue.
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3) Equities Investing. More investing. Last week I purchased Tesla at $200/share. This week I purchased more Tesla at $187 USD/share.
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4) The new Property Manager has the keys and will do a few repairs (based on the fact the unit will be rented.)
needs fire extinguishers, smoke+CO detectors, a hand rail, some exterior clean up, lawn care. etc.
the big issue is the boiler and central forced air heating. Will have that assessed and may have it upgraded before rentals move in to
avoid emergency repairs with a tenant in place.
The house is split into two units and advertised as 1+1 for 1580+40%utilties,
the other is 2+1 (bed/bath) for 1800+60% utilities. There is only one meter so the PM suggested the split.
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5) buying an apartment in Edmonton: No action.
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6) Realtor License. Exam Scheduled for Nov 29. 2022.
Legal update Dec 14. Ethics Update: Jan 5, 2023.
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7) RE meetups: Missed the last couple of meetups.
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8) Was a funny short story here. The title company wanted us to have documents notarized and verified at the US Consulate in Vancouver.
I pushed back for two days on this as I thought it was excessive. Offered to go to Washington State and have the documents notarized by
our regular notary there. I live 30 minutes from the boarder and my US bank there has a notary IN the bank that does documentation for FREE.
The title agent more or less pushed and told us who to use in Vancouver for notary and to use their lawyer in the
US consulate to have the documents Verified/etc. There is a complicated 3 step process for having US documents notarized in Canada.
After much push by the title agent, and contacting the notary that they specified.. I told them no problem. It will take me one day to have
documents notarized and up to +4-8 weeks to get an appointment at the US consulate for verification. I told them as soon as the US consulate
gave me an appointment date, I would forward it to them. As soon as they found out how long it would take, they immediately asked me
to use my Washington State Notary. Sent all signed closing documents (on our side) by Fedex. Sale should complete this next week.
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9) Vancouver Warehouse. Waiting for Accountant to send back draft FS.
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10) Sarnia. Small return of Shareholder's Loan approved at this year's AGM. Nothing special here. Two more years before we have to make
a serious decision, REFI and pay Shareholders or prep for sale.
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11) OK Most important New item here and why I am posting again.
I need to get my thoughts on this straightened out.
Another out of the Blue event. I call it an out of the blue event, but it is not really.
I did the prep work on this two years ago and am prepared when opportunity comes knocking.

Was contacted by a Headhunting company to meet regarding a possible position.
The company is a private real estate holding company that I applied to over 2 years ago.
The HHC emailed me and asked me if I was interested. If Yes, reply and book a first call.
Had to think about this for a while but decided to go ahead. Nothing to lose but 30 minutes finding out what they are looking for.
Ends up the first call went very well.


We had a 25 minute talk with a quick review of the company's holdings and my background.
Funny, they said that they do NOT hire people that are actually looking for a job.
They are looking for someone just like me, with my background and experience.

At the end they asked me my compensation expectation. I told them before I said anything that I do not work for money.
From the initial description, I told them I was very interested in how the owner (a board of directors) manages a family RE Holding company.
I explained to the interviewer that I am in the same position as this family but 20-25 years behind them, with my own RE Holding company.
I threw out what I thought was a reasonable number.

This is where I am.
Next step is to send them an updated resume and book a second phone interview, for next week.
I will proceed as If I want this job, and give it my best shot.
It will be a minimum 4-5 year commitment. I assume it will be 50h/week minimum.
Mentally I feel like I will have to commit to run a marathon a week for the next 4-5 years.
Will have to give up thoughts of learning to play an instrument, learning a new language.
Will have to cut back on my regular online video blogging/posting.
On the flip side, I will have access to WAY more opportunities in RE and really building my own Holdings Co.
The income and experience on the resume will making getting a loan from a bank much easier. (Assuming I need loans/mortgages for more RE investments)
Not 100% sure, but I believe I know which family owns this RE Holding co. and they have very deep roots to Vancouver and the Asian Community.
There is a whole lot more to tell here if it is true, but I am getting way ahead of myself.

Update on #11.

I sent in the resume and will book a second interview.
I figure that as of right now, I have a 5% chance to be offered this job.
If I pass the next interview, I will describe the Job in more detail.

#11 Continued.

Was another short interview. 30 minutes. Passed OK.
Chances now 9%est.
Moving to interview tomorrow 45minute zoom meeting with principal recruiter.
Will wear a tie and jacket for this zoom meeting!
They will grill me apparently.

The job title is Asset Manager.
Is one level up from what I do now.
Will include overseeing 3 malls, 2 apartment buildings and farm land.
This will also include the potential to add/dispose/upgrade current assets.
The successful candidate will oversee a team. Leasing agents, repair crew, accountants.
I am guessing a team of 6-9.
Will have a hand at asset acquisition and disposal. This is long term stuff that I am very much interested in.
What I am also interested in is that I will report to a board of directors (likely an extended family located overseas)
I want to see how a really wealthy family/board deals with decision making etc. Again, this is 25 years ahead of where I am in my investing career.

They told me they have several candidates in the works but no offers... still looking.
(guess I am one of the candidates "in the works.")

Will let you know how it goes.