April 15, 2025 • 35 mins
Danielle Chiasson unpacks the key challenges faced by real estate investors and shares powerful systems to overcome them while building sustainable growth.
• The knowledge gap that prevents investors from pulling the trigger on properties
• Fear as a self-preservation mechanism rather than an obstacle to overcome
• Systems acting as your "second brain" to prevent costly mistakes and free up mental bandwidth
• Starting with simple checklists for any repeated process and refining them over time
• Maintaining portfolio stability through appropriate leverage (65-70% LTV recommended)
• The importance of cash flow for surviving market downturns
• Balancing multiple businesses by "shelving" opportunities until you have adequate resources
• Eliminating the word "should" from your vocabulary to improve your investor mindset
• Tailoring investment strategies to your unique goals and available resources
Want to connect with Danielle? Reach out on Instagram or schedule a 20-minute discovery call to discuss your specific real estate challenges.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
literally hundreds of thousands of dollars, and this
will be the biggest investmentthat most people will ever make
in their life.
Speaker 2 (00:09):
Welcome to the 5 Questions Podcast, where we
unlock real estate and businessinsights, one question at a time
.
Speaker 3 (00:25):
It's time to take back control of your time and
your business.
Join me with this free AI realestate challenge today.
Start working smarter and notharder.
Now I'm not talking about somecomplex test that takes a PhD to
understand.
I'm talking about easy to use,practical AI tools that can save
(00:49):
you time and make your workeasier and help you to grow your
real estate.
Speaker 2 (00:55):
Welcome to the five questions podcast.
My name is Mario Lamar, ourguest on today's show.
She is an expert entrepreneur,ceo and founder of Strategic
Success Consulting.
She has helped countlessinvestors and business owners
reach new heights of success andshe is here to share her
(01:15):
insights on overcomingchallenges and creating systems
for long-term growth.
Welcome, danielle Chaison.
Danielle, welcome to the 5Questions podcast today.
Speaker 1 (01:28):
I'm happy to be here, Mario.
I'm happy to be here and shareand pour.
And yeah, I'm curious whatthese 5 questions are.
Speaker 2 (01:36):
Well, listen, Danielle, the concept of the
podcast is real simple 5questions, business or real
estate related, and we getstraight to the point.
You ready Love it.
Speaker 1 (01:46):
Ready?
Okay, let's do this.
Speaker 2 (01:47):
So, as mentioned in the intro, danielle, you've
helped many investors, businessowners, reach new heights of
success.
What's the common challenge yousee them face and maybe how do
you guide them through it?
Speaker 1 (02:04):
Wow the common.
There's a lot, but I guess youknow if I were to say top three,
number one is mindset.
They don't believe they can orthey don't think they can, so I
really hit hard on mindset,right out of the gate.
Number two is knowledge.
So here's the number one thingis that people can't pull the
trigger on investing becausethey don't have the confidence,
(02:26):
and the reason why they don'thave the confidence is because
they don't have the knowledge,and so that's a gap that we
share, and there's a ton ofinformation, including this
podcast, including my podcast,my YouTube channel, everybody's
YouTube channel, everybody'ssocial media.
There's a ton of informationout there and it tells you what
to do.
There's a ton of informationout there and it tells you what
to do, and it comes in littlepieces.
(02:47):
It's almost like a massive,like web in jigsaw puzzle, and
people have to try to put ittogether, but they don't have
the picture, so they can'tactually piece it together, and
so what we specialize in isactually piecing that jigsaw
puzzle together for you andbonding that with really solid
education and information sothat now you have the confidence
(03:10):
to go out and pull the trigger.
So it's really important forpeople to understand what
they're doing so that they canmake the right investment
decision, because theinvestments that we, that like
the world that we live in, theinvestments are not small.
We're not talking about a$5,000 investment or $10,000.
I mean, we're talking literallyhundreds of thousands of
(03:30):
dollars and this will be thebiggest investment that most
people will ever make in theirlife.
And so, yeah, you really got toknow what you're doing.
And there's a reason why peoplehold back.
Fear is actually aself-preservation mechanism that
we have wired inside us.
It's actually made to protectus.
(03:53):
So if you're being fearfulabout something or feeling fear
about something, it's becausethere is an imminent danger,
whether it's real or perceived,but there's a potential danger
ahead of you.
And so it's saying, whoa, puton the brakes here, hold off.
And then that's how.
That's why people hold off,because you know you don't have
all of the tools, the resourcesor the knowledge in order to
(04:15):
make a smart decision movingforward.
So that's what we do, that'swhat we specialize in is like
getting people the informationthat they need in order to make
a confident decision movingforward.
That's the right decision forthem.
So most times, people come tous if they've already invested.
It was the wrong investment forthem.
They've made mistakes, you know, and they were.
They were like.
They're like I know I need toinvest in real estate if I want
(04:38):
to gain long term wealth, and sothey're moving forward, but
they just didn't have enoughinformation in order to make a
strategic or intentionaldecision for themselves.
And then they come to us andthen we kind of unravel
everything and then we're likeOK, well, moving forward, this
is what we're going to do, andwe're going to do this based on
your goals, your resources andwhat you have available to.
(04:59):
You know to commit to this.
Speaker 2 (05:01):
So to make sure it's successful, I like your analogy
of of a puzzle and it's true, ifyou've never done a puzzle and
you start with like a 5,000piece puzzle, you're going to be
lost.
Too much information, too much,too much too many pieces to put
together.
But if you team up with aprofessional who's been doing
(05:21):
puzzles over and over, he knowswhere to start to start putting
it together and that's exactlylike you said.
That's what you specialize inand and helping put making sense
in all the pieces before youthrow yourself into a big
venture like like real estate.
Speaker 1 (05:39):
And, like putting a puzzle together on your own, you
can probably put the bordertogether because those are the
obvious pieces, right, so peoplecan go out there and buy the
first property they can.
You know, save some money,invest somewhere.
But they only get that borderand then they hit a ceiling,
they hit a wall, they don't knowwhere to go.
They can't get more peace, andthen it takes time in order to
go through all those pieces, totry it, because you don't even
(06:01):
have a picture, and so we'rethere to help you paint that
picture so that you can seeexactly what you're doing, what
direction you're going in, andstart actually putting the
pieces together.
But you know, doing it on yourown can, can anybody do it on
their own, for sure, but it'sgoing to cost you more time and,
sadly, most of the time willcost you more money too, because
you're gonna make mistakes andlearn as you go right.
(06:23):
It's like an on the jobtraining, but when you have a
coach in your corner, you canreally kind of miss those things
that you would do, because wecan see it coming before it
actually happens and say no,don't do that, do it this way,
or you know, structure yourselfthis way and we can save a lot
of time and money for you guysdoing that.
Speaker 2 (06:42):
Absolutely.
That brings us to our secondquestion a lot of time and money
for you guys doing thatAbsolutely.
That brings us to our secondquestion, and talking about you
know having systems, you'repassionate about creating
streamlined systems forsustainable growth.
Can you walk us through one ofyour most maybe impactful system
you created that you'veimplemented in your business?
Speaker 1 (07:05):
Wow, where do I start ?
I mean, I got my hiring system,I got my tenant vetting system.
I got like, I got a system foreverything, my event planning
system.
Like anything you do repeatedly, you need to build a system
around, because what happens isyou're going to miss the mark on
something.
Something's going to.
You're going to miss somethingbecause there's just so many
steps to do for anything fromstart to finish, and every time
(07:28):
you do it, if you don't have asystem, you're relying on your
brain to actually pull that outRight, and you're going to
forget something, and that'snormal because we're human, and
so the system acts as yoursecond brain.
There's a whole theory out thereabout now leveraging leveraging
technology, leveraging thingsin order to act as your second
(07:49):
brain, and what that means isuse a system or technology or
people.
You can leverage people in yourbusiness I do when you hire
people and use that to act asyour second brain to remember
the things that needs to getdone, so you don't have to
remember, and by doing that,you're ensuring that every
whoever it is that's if you'redelegating it or yourself you
(08:12):
just go down the list and youdon't use up all that bandwidth
just to remember to do this andthen if you miss something
because you don't have a system,now you feel down.
It's like, oh man, it couldcost you right, cost you time,
could cost you right, cost youtime, could cost you money.
Typically, if you make amistake, it's one of both or
both, and so having thesesystems prevents that from
happening and it preserves yourenergy to be able to do more in
(08:35):
a day.
People say to me all the timeDaniel, how do you get so much
done in a day?
You're all over social media,you're all over, you're doing
this like you're doing this,you're doing that, you're and I
go.
Because I have systems.
I don't have to stress aboutgetting stuff done and if I need
to, I can delegate, and Idelegate the system and I know
the person is going to followthat system.
So there's less management onmy part, and so it's just about
(08:56):
being smarter, being intentionalright.
Work smarter, not harder, guysand systems gets you there.
So I can tell you this I'm thesystem girl.
Like you just started something.
I don't know this could be thelast question you asked me,
because we could just talk aboutthis all day, but here's how
you do it.
I want to.
I want your audience to getsomething tangible out of their
time listening, and so I want totell you systems.
(09:17):
This is how you do it.
If you do something repeatedly,you know I have a system for
acquisition, I have a system fordisposition of any real estate.
So anything you do multipletimes when you're doing it, just
build a checklist.
You got to do this, you got todo that, you got to do that.
And then, anytime you read, yougo through that process again.
Just go down that checklist,and then there's going to be
stuff that you missed when youbuilt it out the first time.
(09:38):
Just add it as you're goingthrough the process again the
second time, and then the thirdtime, and then you're going to
end up with a checklist that haseverything, and then, when you
have that checklist, that is thestart of building a process.
Right, you start it with achecklist and then you can start
adding more information torefine that Absolutely right.
(09:59):
It's like, for example, if Italk about the acquisition
process, one of the things thatI learned the hard way is that
you know it wasn't on mychecklist to get insurance, and
so the day before closing I gotmy lawyer saying to me yeah, do
you have the insurance binder?
And I'm like what insurance?
What?
Oh shoot, I need to get theinsurance binder.
(10:19):
So that's on my free checklist,not my week of closing, it's
pre-closing that I'm actuallyordering that and so.
But now that's on my checklist,right, it's part of my process.
And, by the way, I have threechecklists I have my pre-closing
, my week of closing and then mypost-closing checklist, and so,
and now you're starting tobuild a process.
Do you see how that kind ofcomes together?
(10:40):
Yeah, and so once you like Isaid, once you have those steps,
you can dial it in.
And then now, like under thatinsurance one, I have my
insurance person's name andcontact information, their email
and website, so that if Idelegate it, I can say, here,
call, if I delegate to one of myadmins, call Amanda at this
insurance company and tell herwe need an insurance binder on
(11:01):
this property that we're closingon.
And so, yeah, it's just a loteasier and I don't have to have
to break my brain, I don't haveto go looking for the
information to send it off tothem.
Speaker 2 (11:11):
I just here's the checklist you can actually all
of the information you canactually put your energy into
things that really matters,instead of putting your energy
trying to remember.
Or did I forget something?
Speaker 1 (11:23):
Yes, exactly, exactly .
And that's the thing.
Like, if you don't have thesechecklists, guys, you're going
to just spend a lot of energy,like how many people get to four
or five o'clock and they'rejust done.
I mean, we're here.
I've been working since 830this morning in front of my
computer, been in meetings allday doing some admin work on my
business.
I've got this podcast, I got ameeting at one o'clock, I got
(11:44):
another meeting at two, 15 andone at three o'clock and like
I'm just back to back to backand I have a group coaching
program tonight which is 90minutes to 120 minutes with my
group, with my group coachingprogram for the pathway of
clarity and prosperity, and solike how can I have these long
days Right and still have theenergy?
(12:07):
I have the same energy tonight.
I will, as I do today, on thispodcast with you.
And that's just because, like Iam just smart with how I'm
spending my energy and one ofthe biggest things is just
managing your energy by havingthese systems I'm big on.
So there's so much benefit tosystems.
When you're delegating a systemto someone, the other thing
about that is that that personnow knows exactly what they need
(12:32):
to do and they can meet yourexpectations because it's
clearly outlined.
And one of the biggest thingand I don't know if hiring here
question on hiring or managingpeople is on your questions list
but one of the biggest thingsabout managing people is you
really want to give them a clearoutline of what your
expectations are for them inorder for them to deliver,
(12:52):
because people who work for youwant to deliver and if you're
not clear in those expectations,they're going to miss the mark
because they're kind of throwinga dart at a dartboard blindly
because they don't even knowwhere the dartboard is.
So you got to give them thatdartboard.
This is what you're aiming for,this is what I need you to do,
and the other benefit to that isnot just happy employees that
are going to deliver what youwant, but they're not going to
(13:15):
make as many mistakes becauseit's clearly outlined, so
they're not going to forgetsomething.
So I don't want to say to myadmin hey, we just got this
property under contract.
So I don't want to say to myadmin hey, we just got this
property under contract.
Can you make sure you geteverything done that we need to
prep for closing?
No, that's not what I tell them.
I have a checklist that clearlyoutlines everything.
They're not going to missanything.
And one of my biggest pet peevesis when employers come back and
(13:36):
say, oh, I hired somebody, butthey never.
They don't get everything done.
Did you give them a clearoutline, like it's your job to
make sure that they know theirjob and so there's just so much,
so much benefit beyond managingyour energy.
It really, you know, it justreally eliminates a lot of
(13:58):
mistakes in your business andheadaches and misses, so you're
not going back and cleaning upthat stuff.
You got happier employees.
It's just so much better.
Speaker 2 (14:04):
Well, I want to go to question number three, because
it kind of ties together withyour experience.
What is the key to maintainingstability in a real estate
business, especially whenmarkets constantly changes?
Speaker 1 (14:20):
Yeah, well, you need cash flow and so a lot of people
failed in 2022, going into 23and 24, because they were over
leveraged and they didn't havecash flow or they didn't have
enough cash flow.
And what I mean by that likepeople think over leveraging is
over at 100% loan to value.
I think over leveraging is whenyou're at that 80-85% loan to
(14:40):
value on your portfolio.
If you want to have a stableportfolio that will ride out the
real estate market cycles andwe have four phases of the
economic cycle for real estateand recession is one of them so
you've got a recession, you'vegot recovery.
So when you go into hypersupply, into recession and
recovery, which is where we arenow in that recession, going
(15:01):
into recovery and it's flat youneed to make sure that you have
enough loan to value in yourportfolio to manage that.
So you've got room to move.
So what happens with the economywhen there's inflation?
They need room to move right,so they need to know that they
can increase rates withoutbankrupting people and then
(15:24):
balance that out.
Well, for us, if we need tomake an adjustment on our
portfolio, maybe we make anadjustment on the amortization
so that we stretch out theamortization and we can lower
our debt service Maybe.
Whatever that is like you justcan't.
People get so complacent whenthings are good and then they
(15:45):
just don't stick to thefundamentals and they take risks
that they don't need.
Speaker 2 (15:49):
They want that tax-free money.
Speaker 1 (15:51):
They want to pull out that tax-free money.
They just keep and I get that.
You want to pull that out.
You want to pull that out andreinvest it, but to a certain
degree you need some stabilityin that portfolio.
You don't want it to be at a ata point where you know if
(16:12):
there's a move in the marketwhether the prices come down now
your loan to value is a lotless, uh whether the interest
rates go up and now thatservicing is higher, maybe the
rental rates drop and yourcashflow dries up.
Like.
You need to have a bit ofbreathing room, okay, and having
a stable portfolio.
You know slow and steady winsthe race here.
Guys, when you're doinglong-term investments, you don't
want to put yourself out there.
(16:33):
So what I tell people is lookthe first property, the second
property, the third propertythat's going to be your riskiest
properties until you stabilizethem and get some extra equity
in there.
You want to be around maybe 70%loan to value is what I would
say.
65% if you really want to playit safe.
But have some wiggle room thereso that you can maneuver, like
(16:54):
the Bank of Canada does.
They maneuver in the economy inorder to survive a storm.
If you have no room to maneuverand you don't have that wiggle
room, you're going to putyourself in a pickle, especially
if, let's say, you lose yourjob.
Right, it's not just theeconomy, but what if you lose
your job?
And a lot of people were quickto leave their jobs because the
(17:17):
appreciation was going up sohigh.
I mean we were in double-digitappreciation there for two,
three years 2019, 2021.
I mean, the appreciation wasinsane, unlike we've ever seen
before.
And then people were like oh,I'm going to quit my job because
I can just refi out in 18months and take out 80,000, a
hundred thousand.
Speaker 2 (17:36):
Yeah.
Speaker 1 (17:37):
And then just live off of that for a year and
continue to buy.
But they just kept theirportfolio very leveraged and
yeah, and all of that dried up,guys.
And so you want to make surethat you're in a position where
you're really stable.
So after you have your secondor third property and you have
like three properties that arestable, then what happens is,
yeah, you're going to take onanother project and that one
(17:59):
might be, you know, at a highloan to value and you might be
over 100% loan to value.
If you're doing renovations.
I'm a flipper, I get it, I liketo do burrs, I like to flip and
so, yeah, you're going to beover 100% loan to value for a
short amount of time, but youneed to have those systems built
in.
Have those systems built in soyou can turn it quickly because
(18:19):
flipping and burring, you don'twant to be in that space where
you're taking so long andleaving money on the table.
It's legitimately, the longeryou are in a flip or a burr
project, the more you're erodingaway on your profit margins.
So it's got to be.
It's the velocity of money,speed of implementation.
(18:39):
You need to move quickly onthat.
So systems are really importantwhen you're doing flips and
burs, like any big project, andthen stabilize it.
Stabilize it as quickly as youcan and then you can, you know,
pull that money out if it's abur, flip and you've got some
cash coming back into you, andthen recycle that money, put it
into the next project.
But again, systems are going tobe what's going to help you
(19:02):
kind of move through thatprocess a lot faster.
Speaker 2 (19:11):
It seems like we repeat it over and over, but it
is the key to success.
If you don't have those systemsin place, you're not going to
grow as fast and as stable,you're not going to be as stable
as you could be.
Speaker 1 (19:23):
Yep, you know you're not going to be as stable as you
could be.
Yep, well then, people thatfailed through 22 and 23, I mean
, those were the people thatjust had too many projects on
their plate.
They, you know, tried to growtoo fast and they weren't
strategic, they weren'tintentional, and then they were
over leveraged.
Like every single, every singleperson that I've studied that
have failed over the last fewyears, they were over leveraged.
(19:45):
That's the one common thingthat they had, and so that is
the one thing that we are 100%against is over leveraging, and
we caution people like you don'twant to be over leveraged.
You can really destroyeverything you've built and you
can lose your reputation.
Like there's just too much atrisk.
Slow and steady.
Slow and steady, I mean realestate is a long game.
(20:05):
It's not a sprint, it's amarathon.
Speaker 2 (20:07):
Yeah, brings us to our fourth question, and you're
doing both, you expert in realestate, but also a business
coach.
I'd like to know I'm probablygonna know, it's the systems,
but how do you balance the twoand how can entrepreneurs find
the synergy between them bydoing real estate and, maybe you
(20:30):
know, building a business atthe same time?
Speaker 1 (20:33):
Yeah, Well, if you're okay.
Well, when you say build abusiness at the same time, is it
building your real estateportfolio or is it building a
separate business?
Speaker 2 (20:40):
Because it's two separate things right.
Yeah, for example, in your case, maybe tell us your experience
on how you deal with real estateand your business coaching at
the same time.
Speaker 1 (20:51):
Okay.
So right now my real estate ison hold because I'm building
this real estate coachingbusiness right.
So I took my real estatecoaching, which was one to one
before and going one to many Now.
We're building a massivebusiness and community around
that.
I mean, our coaching programhas multi layers to it, so
depending on where you are onyour journey will depend on
where you go in it.
So my business that I'mbuilding right now is massive.
(21:13):
So, just like flipping housesor acquiring properties into
your portfolio, you don't wantto do things all at the same
time and have too much on the goand you're opening yourself up
to some risk that you don't need, and so I'm not.
You know like your attentionneeds to be where it needs to be
on what the project is at themoment, and so right now my real
(21:34):
estate is just on hold.
I have what I have in myportfolio, and then I've got my
coaching business.
That is not stable until it'sthere.
When I say it's not stable, I'mstill in the building phase,
right.
And so I'm still building.
I'm building a lot of things.
I mean we've got more eventscoming up, we've got
informational webinars or I'vegot an idea in my head that I
(21:55):
think is going to be so amazing.
I can't wait to implement.
But, like I'm just doing a lotin the business right now to
have a just a, an amazing clientjourney for the clients, and so
I'm still building that.
Until I stabilize, when I'mdone building and I've got all
the components put together andonce I'm done, I guess the
(22:15):
project you could call it, thenI can let the team, you know, I
can kick back, let the team runit, then I know you know, okay,
this is what I need to do everyday.
I need to show up for thesecalls or I need to do.
You know what I mean.
So that is till I get there.
I'm not going back into realestate.
I know at the beginning of thisyear I was a little bit
ambitious and I said I'm openingup an MFT because my next step
(22:37):
in real estate.
I want to get away from thesesmall multis and I actually want
to do purpose built Maltese andI want larger apartment
buildings.
So I don't want to do thesesmaller ones anymore.
But I realized that's a bigproject and I'm not stable
enough here where it can be alittle less hands on and more
hands off to put my energy there.
So, just like flipping, you needto put your energy where it is
(23:00):
so balancing a business.
So if you have a separatebusiness, until you're stable in
that business and you can putsome time and energy and commit
that into building a portfolio,I don't recommend that you do
that.
So you can take your money,invest it somewhere.
Which could do is maybe investit passively.
You could do, you know, assetbased lending, so you can lend
(23:21):
out on mortgages or put it inthe financial markets if you
want, but definitely let yourmoney go to work for you.
You can, you know, invest itinto a REIT if you want, but
definitely invest it where youget a decent return while you're
stabilizing your business.
But when you have the time thatyou can commit, then you can
pull out that money and startinvesting into real estate,
right.
(23:42):
But if you do it kind of, yeah,if you're just half-assing it,
you're just opening yourself upto risks you don't need.
Speaker 2 (23:52):
I like what you said, because you know, every
entrepreneur is people that areambitious, they want to, they
have projects, they have visions, they want to implement it and
sometimes the most powerfulthing you can do in your life or
your business life is to hitthe brakes and slow down a
(24:12):
little bit.
It's the same.
I'm exactly at the same spot asyou are in my portfolio.
The acquisition side of thingsis on hold because I got this
podcast and then I'm running thesummit at sea and I'm working
on a branding and networkingprogram for real estate
investors.
(24:33):
So it's a lot at once and youcannot do it all good.
You can if you have a team, youknow many, many people and you
have those budgets.
But if it's you, you need toslow down.
I don't know if humility is theright word, but you need to
(24:55):
have the humility to say it'sokay to hit the brakes, nobody
cares anyways, if people look atme right and then say, oh, look
, he's slowing down and yeah,it's okay to slow down sometimes
and that's very important Itotally agree with that.
Speaker 1 (25:13):
100 it's um, yeah, humility would be a good word.
It is a lot ego that plays intothat, because what happens is
people look at other people andthey compare themselves to other
people and they're like, well,that person look at danielle,
she's doing this, she's doingthat, she's doing that and then
they think that they should beable to go in.
But my time, my resources, whatI have available to me, my
(25:34):
knowledge is at a very differentlevel than maybe that other
person, and you're not doingyourself any justice by
comparing yourself to anybodyelse.
Everybody's journey is uniqueand you just got to own your own
.
The only thing you should becomparing yourself is to
yourself yesterday and make surethat you're a little bit closer
to where you're going to, whereyour goals are today, than you
were yesterday.
And ultimately, I think peoplemiss the mark on that because
(25:58):
they think they should be doingthis, they should be doing that.
And in fact, I told a studenttoday on a call I'm like you
need to lose the word should outof your vocabulary started
laughing at me.
I go no, I'm actually deadserious right now and this is
kind of the thing that I wastelling you about mindset.
I'm really big on this stuff.
Lose the word should, you haveto lose that.
So if anybody wants to takeanything solid from this call,
(26:20):
lose the word should out of yourvocabulary because it's one of
the things that it's like ananchor that's going to hold you
at the bottom of the lake andit's just going to hold you back
.
Honestly, I'm telling you likeit's psychologically.
It plays so heavy on us and wedon't even realize it.
It's done at a subconsciouslevel.
But every time you say I shoulddo this, I should do that,
(26:42):
you're beating yourself up, likeyou know.
Just appreciate what you areable to do in a day.
I call it shelving things.
So I don't say no, I don't likeno.
They say you know, there's alot of gurus out there and a lot
of experts and I even teachthis, but I teach it a little
bit different.
People say say no, learn to sayno, learn to say no.
(27:02):
I don't like that because it'snot in alignment with me.
I don't want to say no to things, I don't want to say no to
people, and so what I do is I'llthings that I can't do right
now.
I put it on a shelf.
I have a little virtual shelfin the back of my head and I put
it on the shelf to do later andthat's something I'm going to
pull out when I'm ready, when Ihave the mental capacity and the
time and all the resources thatI need in order to implement
(27:25):
that.
So I just shelve things andthen when people ask me to do
things for them, if I'm not ableto commit or I'm not able to
help them, I don't say no.
I say you know what?
I'm not the best person for youright now because I can't
commit to that.
Or I tell them you know what?
I know somebody that couldreally help you with that, and
so I help them in a differentway.
But you know, I provide someassistance but I don't like to
(27:48):
say no.
So I just change that a littlebit.
Speaker 2 (27:51):
Yeah, Brings us to our fifth and final question.
Today we talked about you being, you know your coaching program
, having your coaching programas a mentor also.
You do a lot of speaking.
So, as a mentor, as a speaker,how do you tailor your advice to
different types of real estateinvestors?
Because there is some peoplethat are beginners, but in the
(28:14):
same audience, you're going tohave people that are experienced
investors.
Beginners, but in the sameaudience, you're going to have
people that are experiencedinvestors.
Speaker 1 (28:25):
So how do you tailor the different types of advice to
people?
I love how you, I love how youask this question.
I don't know if these are thesame questions you ask everybody
.
But, okay, yeah, I.
I love this question because Ithink that what that's what sets
us apart from other educationprograms that are out there.
So for us, we do tailor it tothe people.
Even in our group coachingprogram it's strictly tailored
(28:45):
to you because our program is aprogram, it's not a course, and
so when you come in, we're goingto give you a baseline
education, but then we're givingyou, we're giving you resources
and we're also giving youaction items to do to work on
your own individual journey, andthen we have one on one calls
to check in with you during theprogram and make sure you're on
track and answer all yourquestions.
So it's very tailored, even inthe group coaching program.
(29:08):
So it's not just educationonline, like it's really deeper
than that, and most programs,courses, are out there.
They're just courses.
It's all the same content and,truthfully, like all the content
that we as coaches, share withyou guys, it's all out there
online.
We just again, we just have thecompleted puzzle and we're
(29:29):
showing it to you, right, butthe difference with us is that
we reverse, engineer the system,the process, so we always start
with your goals, where do youwant to be?
And then, as we go through,then we start analyzing your
situation.
We actually build a roadmapwith our students and like, okay
(29:52):
, these are your goals.
We dial that into a SMART goaland then we reverse engineer
that goal and then we're like,okay, what resources do you have
?
We identify the weakest link.
So then we know where you haveto fill in the gap.
So we look at your resourcesand, by the way, time is also a
resource.
When people think of resource,they just think money usually,
but time is probably the mostimportant resource that I want
(30:14):
to look at.
I want to know how much timeyou can commit and then also,
who can you enroll to help youon your journey?
Right, and so that's a resourceis the people that you can
enroll.
So we look at your resources.
Obviously, we look at capital,how much equity, and then we
analyze all of that and then westart helping you fill in the
gaps.
And then we're like, okay,these are the gaps you need to
(30:35):
fill and this is where you needto spend your time and energy.
And then we build a foundationtogether for you to be able to
go out there and invest securely, cause I mean, when you build a
house, where do you start?
You start with the foundation,right, and so that's really kind
of how we tailor it, um, andthen we're just with you along
the journey.
Along your journey, you know,whatever it is that, whatever it
(30:58):
is that your goal is, that isour focus for you guys, the
student, and then for us, likewe have that goal.
I had a student, you know she?
Her goal was 50 by 50.
So we're like, okay, we need tomake sure we got a solid
foundation and then let's startlooking on that 50 by 50 and
then start getting some units.
She was 42 or 43 years old atthe time.
(31:18):
I'm like, totally doable, sevenyears, hell yeah, no problem,
that's easy, that's not aproblem.
But we need to make sure youhave a solid foundation.
First, we need to get yourfinancial house in order.
We help you do that, and thenwe tailor the market and the
(31:53):
strategy based on your personalsituation.
Speaker 2 (31:55):
I mean, this is something we consult with you on
.
It's like, okay, this is howmuch resources you have, this is
how much time you have and thisis, yeah, how much money you
have.
And then we put that togetherand say, okay, based on that,
let's talk about the market andlet's talk about the strategy
and then put it all together.
Speaker 1 (32:16):
So it's not.
It's not, yeah, it's not asystem in a box where it's a
six-month program.
We had somebody in there whohadn't even bought a principal
residence, never bought his ownproperty before and then we had
somebody else in there who hadthree or four properties he
wanted to level up intomultifamily and wasn't sure how,
and both of them the one guywho is literally green, a
(32:37):
complete newbie, never did anycoaching, listened to a couple
of podcasts.
We got him house hacking in hisprimary residence.
So he's closed on his propertyalready and he's doing
renovations and house hackingthat.
He's house hacking that twoways.
By the way, he's putting in abasement suite and then he's
also got he's a single guy,no-transcript, implementing and
(33:06):
just this one purchase, butthat's going to elevate them and
set them up to be able to domore in the future.
And, yeah, and the other guy,also a young guy and you know,
(33:41):
no-transcript having you on theshow today.
Speaker 2 (33:49):
usually I'm going to tell you this, it's about the 20
minute mark, but we had a shortpodcast, me and you at one of
the events we met, and we knowwe can talk, but it doesn't
matter.
It went longer time and everypiece is every question you
answered gave lots of values,lots of knowledge, so I'm really
(34:13):
excited for people to hear thisepisode and I hope everybody
takes a piece of your knowledgeon their journey and absolutely.
Listen, we'll have to findanother time to continue our
conversation A hundred percent.
Yeah.
Speaker 1 (34:28):
And if anybody, if anybody wants to reach out to me
, they can just go to Instagram.
Hit me up my DMs.
I'm happy to.
I always I love doing discoverycalls with people.
If you want to jump on a quickcall with me, it's just a 20
minute call Bring me yourchallenge, I'll help you through
that challenge.
And, yeah, if it goes anywherefurther than that, then great.
If not, no big deal.
I'm happy to help.
Speaker 2 (34:48):
We'll make sure to put the links in the description
.
Awesome.
Once again, thank you, danielle, and we'll talk soon.
Speaker 1 (34:56):
Bye for now.
Speaker 2 (34:57):
Thanks for tuning into the five questions podcast.
If you enjoyed today's episode,don't forget to subscribe, like
and hit the notification bellon our YouTube channel so you
never miss an episode.
Stay tuned for more insightsand tips to transform your real
estate and business game.
See you next time.
literally hundreds of thousands of dollars, and this
will be the biggest investmentthat most people will ever make
in their life.
Speaker 2 (00:09):
Welcome to the 5 Questions Podcast, where we
unlock real estate and businessinsights, one question at a time
.
Speaker 3 (00:25):
It's time to take back control of your time and
your business.
Join me with this free AI realestate challenge today.
Start working smarter and notharder.
Now I'm not talking about somecomplex test that takes a PhD to
understand.
I'm talking about easy to use,practical AI tools that can save
(00:49):
you time and make your workeasier and help you to grow your
real estate.
Speaker 2 (00:55):
Welcome to the five questions podcast.
My name is Mario Lamar, ourguest on today's show.
She is an expert entrepreneur,ceo and founder of Strategic
Success Consulting.
She has helped countlessinvestors and business owners
reach new heights of success andshe is here to share her
(01:15):
insights on overcomingchallenges and creating systems
for long-term growth.
Welcome, danielle Chaison.
Danielle, welcome to the 5Questions podcast today.
Speaker 1 (01:28):
I'm happy to be here, Mario.
I'm happy to be here and shareand pour.
And yeah, I'm curious whatthese 5 questions are.
Speaker 2 (01:36):
Well, listen, Danielle, the concept of the
podcast is real simple 5questions, business or real
estate related, and we getstraight to the point.
You ready Love it.
Speaker 1 (01:46):
Ready?
Okay, let's do this.
Speaker 2 (01:47):
So, as mentioned in the intro, danielle, you've
helped many investors, businessowners, reach new heights of
success.
What's the common challenge yousee them face and maybe how do
you guide them through it?
Speaker 1 (02:04):
Wow the common.
There's a lot, but I guess youknow if I were to say top three,
number one is mindset.
They don't believe they can orthey don't think they can, so I
really hit hard on mindset,right out of the gate.
Number two is knowledge.
So here's the number one thingis that people can't pull the
trigger on investing becausethey don't have the confidence,
(02:26):
and the reason why they don'thave the confidence is because
they don't have the knowledge,and so that's a gap that we
share, and there's a ton ofinformation, including this
podcast, including my podcast,my YouTube channel, everybody's
YouTube channel, everybody'ssocial media.
There's a ton of informationout there and it tells you what
to do.
There's a ton of informationout there and it tells you what
to do, and it comes in littlepieces.
(02:47):
It's almost like a massive,like web in jigsaw puzzle, and
people have to try to put ittogether, but they don't have
the picture, so they can'tactually piece it together, and
so what we specialize in isactually piecing that jigsaw
puzzle together for you andbonding that with really solid
education and information sothat now you have the confidence
(03:10):
to go out and pull the trigger.
So it's really important forpeople to understand what
they're doing so that they canmake the right investment
decision, because theinvestments that we, that like
the world that we live in, theinvestments are not small.
We're not talking about a$5,000 investment or $10,000.
I mean, we're talking literallyhundreds of thousands of
(03:30):
dollars and this will be thebiggest investment that most
people will ever make in theirlife.
And so, yeah, you really got toknow what you're doing.
And there's a reason why peoplehold back.
Fear is actually aself-preservation mechanism that
we have wired inside us.
It's actually made to protectus.
(03:53):
So if you're being fearfulabout something or feeling fear
about something, it's becausethere is an imminent danger,
whether it's real or perceived,but there's a potential danger
ahead of you.
And so it's saying, whoa, puton the brakes here, hold off.
And then that's how.
That's why people hold off,because you know you don't have
all of the tools, the resourcesor the knowledge in order to
(04:15):
make a smart decision movingforward.
So that's what we do, that'swhat we specialize in is like
getting people the informationthat they need in order to make
a confident decision movingforward.
That's the right decision forthem.
So most times, people come tous if they've already invested.
It was the wrong investment forthem.
They've made mistakes, you know, and they were.
They were like.
They're like I know I need toinvest in real estate if I want
(04:38):
to gain long term wealth, and sothey're moving forward, but
they just didn't have enoughinformation in order to make a
strategic or intentionaldecision for themselves.
And then they come to us andthen we kind of unravel
everything and then we're likeOK, well, moving forward, this
is what we're going to do, andwe're going to do this based on
your goals, your resources andwhat you have available to.
(04:59):
You know to commit to this.
Speaker 2 (05:01):
So to make sure it's successful, I like your analogy
of of a puzzle and it's true, ifyou've never done a puzzle and
you start with like a 5,000piece puzzle, you're going to be
lost.
Too much information, too much,too much too many pieces to put
together.
But if you team up with aprofessional who's been doing
(05:21):
puzzles over and over, he knowswhere to start to start putting
it together and that's exactlylike you said.
That's what you specialize inand and helping put making sense
in all the pieces before youthrow yourself into a big
venture like like real estate.
Speaker 1 (05:39):
And, like putting a puzzle together on your own, you
can probably put the bordertogether because those are the
obvious pieces, right, so peoplecan go out there and buy the
first property they can.
You know, save some money,invest somewhere.
But they only get that borderand then they hit a ceiling,
they hit a wall, they don't knowwhere to go.
They can't get more peace, andthen it takes time in order to
go through all those pieces, totry it, because you don't even
(06:01):
have a picture, and so we'rethere to help you paint that
picture so that you can seeexactly what you're doing, what
direction you're going in, andstart actually putting the
pieces together.
But you know, doing it on yourown can, can anybody do it on
their own, for sure, but it'sgoing to cost you more time and,
sadly, most of the time willcost you more money too, because
you're gonna make mistakes andlearn as you go right.
(06:23):
It's like an on the jobtraining, but when you have a
coach in your corner, you canreally kind of miss those things
that you would do, because wecan see it coming before it
actually happens and say no,don't do that, do it this way,
or you know, structure yourselfthis way and we can save a lot
of time and money for you guysdoing that.
Speaker 2 (06:42):
Absolutely.
That brings us to our secondquestion a lot of time and money
for you guys doing thatAbsolutely.
That brings us to our secondquestion, and talking about you
know having systems, you'repassionate about creating
streamlined systems forsustainable growth.
Can you walk us through one ofyour most maybe impactful system
you created that you'veimplemented in your business?
Speaker 1 (07:05):
Wow, where do I start ?
I mean, I got my hiring system,I got my tenant vetting system.
I got like, I got a system foreverything, my event planning
system.
Like anything you do repeatedly, you need to build a system
around, because what happens isyou're going to miss the mark on
something.
Something's going to.
You're going to miss somethingbecause there's just so many
steps to do for anything fromstart to finish, and every time
(07:28):
you do it, if you don't have asystem, you're relying on your
brain to actually pull that outRight, and you're going to
forget something, and that'snormal because we're human, and
so the system acts as yoursecond brain.
There's a whole theory out thereabout now leveraging leveraging
technology, leveraging thingsin order to act as your second
(07:49):
brain, and what that means isuse a system or technology or
people.
You can leverage people in yourbusiness I do when you hire
people and use that to act asyour second brain to remember
the things that needs to getdone, so you don't have to
remember, and by doing that,you're ensuring that every
whoever it is that's if you'redelegating it or yourself you
(08:12):
just go down the list and youdon't use up all that bandwidth
just to remember to do this andthen if you miss something
because you don't have a system,now you feel down.
It's like, oh man, it couldcost you right, cost you time,
could cost you right, cost youtime, could cost you money.
Typically, if you make amistake, it's one of both or
both, and so having thesesystems prevents that from
happening and it preserves yourenergy to be able to do more in
(08:35):
a day.
People say to me all the timeDaniel, how do you get so much
done in a day?
You're all over social media,you're all over, you're doing
this like you're doing this,you're doing that, you're and I
go.
Because I have systems.
I don't have to stress aboutgetting stuff done and if I need
to, I can delegate, and Idelegate the system and I know
the person is going to followthat system.
So there's less management onmy part, and so it's just about
(08:56):
being smarter, being intentionalright.
Work smarter, not harder, guysand systems gets you there.
So I can tell you this I'm thesystem girl.
Like you just started something.
I don't know this could be thelast question you asked me,
because we could just talk aboutthis all day, but here's how
you do it.
I want to.
I want your audience to getsomething tangible out of their
time listening, and so I want totell you systems.
(09:17):
This is how you do it.
If you do something repeatedly,you know I have a system for
acquisition, I have a system fordisposition of any real estate.
So anything you do multipletimes when you're doing it, just
build a checklist.
You got to do this, you got todo that, you got to do that.
And then, anytime you read, yougo through that process again.
Just go down that checklist,and then there's going to be
stuff that you missed when youbuilt it out the first time.
(09:38):
Just add it as you're goingthrough the process again the
second time, and then the thirdtime, and then you're going to
end up with a checklist that haseverything, and then, when you
have that checklist, that is thestart of building a process.
Right, you start it with achecklist and then you can start
adding more information torefine that Absolutely right.
(09:59):
It's like, for example, if Italk about the acquisition
process, one of the things thatI learned the hard way is that
you know it wasn't on mychecklist to get insurance, and
so the day before closing I gotmy lawyer saying to me yeah, do
you have the insurance binder?
And I'm like what insurance?
What?
Oh shoot, I need to get theinsurance binder.
(10:19):
So that's on my free checklist,not my week of closing, it's
pre-closing that I'm actuallyordering that and so.
But now that's on my checklist,right, it's part of my process.
And, by the way, I have threechecklists I have my pre-closing
, my week of closing and then mypost-closing checklist, and so,
and now you're starting tobuild a process.
Do you see how that kind ofcomes together?
(10:40):
Yeah, and so once you like Isaid, once you have those steps,
you can dial it in.
And then now, like under thatinsurance one, I have my
insurance person's name andcontact information, their email
and website, so that if Idelegate it, I can say, here,
call, if I delegate to one of myadmins, call Amanda at this
insurance company and tell herwe need an insurance binder on
(11:01):
this property that we're closingon.
And so, yeah, it's just a loteasier and I don't have to have
to break my brain, I don't haveto go looking for the
information to send it off tothem.
Speaker 2 (11:11):
I just here's the checklist you can actually all
of the information you canactually put your energy into
things that really matters,instead of putting your energy
trying to remember.
Or did I forget something?
Speaker 1 (11:23):
Yes, exactly, exactly .
And that's the thing.
Like, if you don't have thesechecklists, guys, you're going
to just spend a lot of energy,like how many people get to four
or five o'clock and they'rejust done.
I mean, we're here.
I've been working since 830this morning in front of my
computer, been in meetings allday doing some admin work on my
business.
I've got this podcast, I got ameeting at one o'clock, I got
(11:44):
another meeting at two, 15 andone at three o'clock and like
I'm just back to back to backand I have a group coaching
program tonight which is 90minutes to 120 minutes with my
group, with my group coachingprogram for the pathway of
clarity and prosperity, and solike how can I have these long
days Right and still have theenergy?
(12:07):
I have the same energy tonight.
I will, as I do today, on thispodcast with you.
And that's just because, like Iam just smart with how I'm
spending my energy and one ofthe biggest things is just
managing your energy by havingthese systems I'm big on.
So there's so much benefit tosystems.
When you're delegating a systemto someone, the other thing
about that is that that personnow knows exactly what they need
(12:32):
to do and they can meet yourexpectations because it's
clearly outlined.
And one of the biggest thingand I don't know if hiring here
question on hiring or managingpeople is on your questions list
but one of the biggest thingsabout managing people is you
really want to give them a clearoutline of what your
expectations are for them inorder for them to deliver,
(12:52):
because people who work for youwant to deliver and if you're
not clear in those expectations,they're going to miss the mark
because they're kind of throwinga dart at a dartboard blindly
because they don't even knowwhere the dartboard is.
So you got to give them thatdartboard.
This is what you're aiming for,this is what I need you to do,
and the other benefit to that isnot just happy employees that
are going to deliver what youwant, but they're not going to
(13:15):
make as many mistakes becauseit's clearly outlined, so
they're not going to forgetsomething.
So I don't want to say to myadmin hey, we just got this
property under contract.
So I don't want to say to myadmin hey, we just got this
property under contract.
Can you make sure you geteverything done that we need to
prep for closing?
No, that's not what I tell them.
I have a checklist that clearlyoutlines everything.
They're not going to missanything.
And one of my biggest pet peevesis when employers come back and
(13:36):
say, oh, I hired somebody, butthey never.
They don't get everything done.
Did you give them a clearoutline, like it's your job to
make sure that they know theirjob and so there's just so much,
so much benefit beyond managingyour energy.
It really, you know, it justreally eliminates a lot of
(13:58):
mistakes in your business andheadaches and misses, so you're
not going back and cleaning upthat stuff.
You got happier employees.
It's just so much better.
Speaker 2 (14:04):
Well, I want to go to question number three, because
it kind of ties together withyour experience.
What is the key to maintainingstability in a real estate
business, especially whenmarkets constantly changes?
Speaker 1 (14:20):
Yeah, well, you need cash flow and so a lot of people
failed in 2022, going into 23and 24, because they were over
leveraged and they didn't havecash flow or they didn't have
enough cash flow.
And what I mean by that likepeople think over leveraging is
over at 100% loan to value.
I think over leveraging is whenyou're at that 80-85% loan to
(14:40):
value on your portfolio.
If you want to have a stableportfolio that will ride out the
real estate market cycles andwe have four phases of the
economic cycle for real estateand recession is one of them so
you've got a recession, you'vegot recovery.
So when you go into hypersupply, into recession and
recovery, which is where we arenow in that recession, going
(15:01):
into recovery and it's flat youneed to make sure that you have
enough loan to value in yourportfolio to manage that.
So you've got room to move.
So what happens with the economywhen there's inflation?
They need room to move right,so they need to know that they
can increase rates withoutbankrupting people and then
(15:24):
balance that out.
Well, for us, if we need tomake an adjustment on our
portfolio, maybe we make anadjustment on the amortization
so that we stretch out theamortization and we can lower
our debt service Maybe.
Whatever that is like you justcan't.
People get so complacent whenthings are good and then they
(15:45):
just don't stick to thefundamentals and they take risks
that they don't need.
Speaker 2 (15:49):
They want that tax-free money.
Speaker 1 (15:51):
They want to pull out that tax-free money.
They just keep and I get that.
You want to pull that out.
You want to pull that out andreinvest it, but to a certain
degree you need some stabilityin that portfolio.
You don't want it to be at a ata point where you know if
(16:12):
there's a move in the marketwhether the prices come down now
your loan to value is a lotless, uh whether the interest
rates go up and now thatservicing is higher, maybe the
rental rates drop and yourcashflow dries up.
Like.
You need to have a bit ofbreathing room, okay, and having
a stable portfolio.
You know slow and steady winsthe race here.
Guys, when you're doinglong-term investments, you don't
want to put yourself out there.
(16:33):
So what I tell people is lookthe first property, the second
property, the third propertythat's going to be your riskiest
properties until you stabilizethem and get some extra equity
in there.
You want to be around maybe 70%loan to value is what I would
say.
65% if you really want to playit safe.
But have some wiggle room thereso that you can maneuver, like
(16:54):
the Bank of Canada does.
They maneuver in the economy inorder to survive a storm.
If you have no room to maneuverand you don't have that wiggle
room, you're going to putyourself in a pickle, especially
if, let's say, you lose yourjob.
Right, it's not just theeconomy, but what if you lose
your job?
And a lot of people were quickto leave their jobs because the
(17:17):
appreciation was going up sohigh.
I mean we were in double-digitappreciation there for two,
three years 2019, 2021.
I mean, the appreciation wasinsane, unlike we've ever seen
before.
And then people were like oh,I'm going to quit my job because
I can just refi out in 18months and take out 80,000, a
hundred thousand.
Speaker 2 (17:36):
Yeah.
Speaker 1 (17:37):
And then just live off of that for a year and
continue to buy.
But they just kept theirportfolio very leveraged and
yeah, and all of that dried up,guys.
And so you want to make surethat you're in a position where
you're really stable.
So after you have your secondor third property and you have
like three properties that arestable, then what happens is,
yeah, you're going to take onanother project and that one
(17:59):
might be, you know, at a highloan to value and you might be
over 100% loan to value.
If you're doing renovations.
I'm a flipper, I get it, I liketo do burrs, I like to flip and
so, yeah, you're going to beover 100% loan to value for a
short amount of time, but youneed to have those systems built
in.
Have those systems built in soyou can turn it quickly because
(18:19):
flipping and burring, you don'twant to be in that space where
you're taking so long andleaving money on the table.
It's legitimately, the longeryou are in a flip or a burr
project, the more you're erodingaway on your profit margins.
So it's got to be.
It's the velocity of money,speed of implementation.
(18:39):
You need to move quickly onthat.
So systems are really importantwhen you're doing flips and
burs, like any big project, andthen stabilize it.
Stabilize it as quickly as youcan and then you can, you know,
pull that money out if it's abur, flip and you've got some
cash coming back into you, andthen recycle that money, put it
into the next project.
But again, systems are going tobe what's going to help you
(19:02):
kind of move through thatprocess a lot faster.
Speaker 2 (19:11):
It seems like we repeat it over and over, but it
is the key to success.
If you don't have those systemsin place, you're not going to
grow as fast and as stable,you're not going to be as stable
as you could be.
Speaker 1 (19:23):
Yep, you know you're not going to be as stable as you
could be.
Yep, well then, people thatfailed through 22 and 23, I mean
, those were the people thatjust had too many projects on
their plate.
They, you know, tried to growtoo fast and they weren't
strategic, they weren'tintentional, and then they were
over leveraged.
Like every single, every singleperson that I've studied that
have failed over the last fewyears, they were over leveraged.
(19:45):
That's the one common thingthat they had, and so that is
the one thing that we are 100%against is over leveraging, and
we caution people like you don'twant to be over leveraged.
You can really destroyeverything you've built and you
can lose your reputation.
Like there's just too much atrisk.
Slow and steady.
Slow and steady, I mean realestate is a long game.
(20:05):
It's not a sprint, it's amarathon.
Speaker 2 (20:07):
Yeah, brings us to our fourth question, and you're
doing both, you expert in realestate, but also a business
coach.
I'd like to know I'm probablygonna know, it's the systems,
but how do you balance the twoand how can entrepreneurs find
the synergy between them bydoing real estate and, maybe you
(20:30):
know, building a business atthe same time?
Speaker 1 (20:33):
Yeah, Well, if you're okay.
Well, when you say build abusiness at the same time, is it
building your real estateportfolio or is it building a
separate business?
Speaker 2 (20:40):
Because it's two separate things right.
Yeah, for example, in your case, maybe tell us your experience
on how you deal with real estateand your business coaching at
the same time.
Speaker 1 (20:51):
Okay.
So right now my real estate ison hold because I'm building
this real estate coachingbusiness right.
So I took my real estatecoaching, which was one to one
before and going one to many Now.
We're building a massivebusiness and community around
that.
I mean, our coaching programhas multi layers to it, so
depending on where you are onyour journey will depend on
where you go in it.
So my business that I'mbuilding right now is massive.
(21:13):
So, just like flipping housesor acquiring properties into
your portfolio, you don't wantto do things all at the same
time and have too much on the goand you're opening yourself up
to some risk that you don't need, and so I'm not.
You know like your attentionneeds to be where it needs to be
on what the project is at themoment, and so right now my real
(21:34):
estate is just on hold.
I have what I have in myportfolio, and then I've got my
coaching business.
That is not stable until it'sthere.
When I say it's not stable, I'mstill in the building phase,
right.
And so I'm still building.
I'm building a lot of things.
I mean we've got more eventscoming up, we've got
informational webinars or I'vegot an idea in my head that I
(21:55):
think is going to be so amazing.
I can't wait to implement.
But, like I'm just doing a lotin the business right now to
have a just a, an amazing clientjourney for the clients, and so
I'm still building that.
Until I stabilize, when I'mdone building and I've got all
the components put together andonce I'm done, I guess the
(22:15):
project you could call it, thenI can let the team, you know, I
can kick back, let the team runit, then I know you know, okay,
this is what I need to do everyday.
I need to show up for thesecalls or I need to do.
You know what I mean.
So that is till I get there.
I'm not going back into realestate.
I know at the beginning of thisyear I was a little bit
ambitious and I said I'm openingup an MFT because my next step
(22:37):
in real estate.
I want to get away from thesesmall multis and I actually want
to do purpose built Maltese andI want larger apartment
buildings.
So I don't want to do thesesmaller ones anymore.
But I realized that's a bigproject and I'm not stable
enough here where it can be alittle less hands on and more
hands off to put my energy there.
So, just like flipping, you needto put your energy where it is
(23:00):
so balancing a business.
So if you have a separatebusiness, until you're stable in
that business and you can putsome time and energy and commit
that into building a portfolio,I don't recommend that you do
that.
So you can take your money,invest it somewhere.
Which could do is maybe investit passively.
You could do, you know, assetbased lending, so you can lend
(23:21):
out on mortgages or put it inthe financial markets if you
want, but definitely let yourmoney go to work for you.
You can, you know, invest itinto a REIT if you want, but
definitely invest it where youget a decent return while you're
stabilizing your business.
But when you have the time thatyou can commit, then you can
pull out that money and startinvesting into real estate,
right.
(23:42):
But if you do it kind of, yeah,if you're just half-assing it,
you're just opening yourself upto risks you don't need.
Speaker 2 (23:52):
I like what you said, because you know, every
entrepreneur is people that areambitious, they want to, they
have projects, they have visions, they want to implement it and
sometimes the most powerfulthing you can do in your life or
your business life is to hitthe brakes and slow down a
(24:12):
little bit.
It's the same.
I'm exactly at the same spot asyou are in my portfolio.
The acquisition side of thingsis on hold because I got this
podcast and then I'm running thesummit at sea and I'm working
on a branding and networkingprogram for real estate
investors.
(24:33):
So it's a lot at once and youcannot do it all good.
You can if you have a team, youknow many, many people and you
have those budgets.
But if it's you, you need toslow down.
I don't know if humility is theright word, but you need to
(24:55):
have the humility to say it'sokay to hit the brakes, nobody
cares anyways, if people look atme right and then say, oh, look
, he's slowing down and yeah,it's okay to slow down sometimes
and that's very important Itotally agree with that.
Speaker 1 (25:13):
100 it's um, yeah, humility would be a good word.
It is a lot ego that plays intothat, because what happens is
people look at other people andthey compare themselves to other
people and they're like, well,that person look at danielle,
she's doing this, she's doingthat, she's doing that and then
they think that they should beable to go in.
But my time, my resources, whatI have available to me, my
(25:34):
knowledge is at a very differentlevel than maybe that other
person, and you're not doingyourself any justice by
comparing yourself to anybodyelse.
Everybody's journey is uniqueand you just got to own your own
.
The only thing you should becomparing yourself is to
yourself yesterday and make surethat you're a little bit closer
to where you're going to, whereyour goals are today, than you
were yesterday.
And ultimately, I think peoplemiss the mark on that because
(25:58):
they think they should be doingthis, they should be doing that.
And in fact, I told a studenttoday on a call I'm like you
need to lose the word should outof your vocabulary started
laughing at me.
I go no, I'm actually deadserious right now and this is
kind of the thing that I wastelling you about mindset.
I'm really big on this stuff.
Lose the word should, you haveto lose that.
So if anybody wants to takeanything solid from this call,
(26:20):
lose the word should out of yourvocabulary because it's one of
the things that it's like ananchor that's going to hold you
at the bottom of the lake andit's just going to hold you back
.
Honestly, I'm telling you likeit's psychologically.
It plays so heavy on us and wedon't even realize it.
It's done at a subconsciouslevel.
But every time you say I shoulddo this, I should do that,
(26:42):
you're beating yourself up, likeyou know.
Just appreciate what you areable to do in a day.
I call it shelving things.
So I don't say no, I don't likeno.
They say you know, there's alot of gurus out there and a lot
of experts and I even teachthis, but I teach it a little
bit different.
People say say no, learn to sayno, learn to say no.
(27:02):
I don't like that because it'snot in alignment with me.
I don't want to say no to things, I don't want to say no to
people, and so what I do is I'llthings that I can't do right
now.
I put it on a shelf.
I have a little virtual shelfin the back of my head and I put
it on the shelf to do later andthat's something I'm going to
pull out when I'm ready, when Ihave the mental capacity and the
time and all the resources thatI need in order to implement
(27:25):
that.
So I just shelve things andthen when people ask me to do
things for them, if I'm not ableto commit or I'm not able to
help them, I don't say no.
I say you know what?
I'm not the best person for youright now because I can't
commit to that.
Or I tell them you know what?
I know somebody that couldreally help you with that, and
so I help them in a differentway.
But you know, I provide someassistance but I don't like to
(27:48):
say no.
So I just change that a littlebit.
Speaker 2 (27:51):
Yeah, Brings us to our fifth and final question.
Today we talked about you being, you know your coaching program
, having your coaching programas a mentor also.
You do a lot of speaking.
So, as a mentor, as a speaker,how do you tailor your advice to
different types of real estateinvestors?
Because there is some peoplethat are beginners, but in the
(28:14):
same audience, you're going tohave people that are experienced
investors.
Beginners, but in the sameaudience, you're going to have
people that are experiencedinvestors.
Speaker 1 (28:25):
So how do you tailor the different types of advice to
people?
I love how you, I love how youask this question.
I don't know if these are thesame questions you ask everybody
.
But, okay, yeah, I.
I love this question because Ithink that what that's what sets
us apart from other educationprograms that are out there.
So for us, we do tailor it tothe people.
Even in our group coachingprogram it's strictly tailored
(28:45):
to you because our program is aprogram, it's not a course, and
so when you come in, we're goingto give you a baseline
education, but then we're givingyou, we're giving you resources
and we're also giving youaction items to do to work on
your own individual journey, andthen we have one on one calls
to check in with you during theprogram and make sure you're on
track and answer all yourquestions.
So it's very tailored, even inthe group coaching program.
(29:08):
So it's not just educationonline, like it's really deeper
than that, and most programs,courses, are out there.
They're just courses.
It's all the same content and,truthfully, like all the content
that we as coaches, share withyou guys, it's all out there
online.
We just again, we just have thecompleted puzzle and we're
(29:29):
showing it to you, right, butthe difference with us is that
we reverse, engineer the system,the process, so we always start
with your goals, where do youwant to be?
And then, as we go through,then we start analyzing your
situation.
We actually build a roadmapwith our students and like, okay
(29:52):
, these are your goals.
We dial that into a SMART goaland then we reverse engineer
that goal and then we're like,okay, what resources do you have
?
We identify the weakest link.
So then we know where you haveto fill in the gap.
So we look at your resourcesand, by the way, time is also a
resource.
When people think of resource,they just think money usually,
but time is probably the mostimportant resource that I want
(30:14):
to look at.
I want to know how much timeyou can commit and then also,
who can you enroll to help youon your journey?
Right, and so that's a resourceis the people that you can
enroll.
So we look at your resources.
Obviously, we look at capital,how much equity, and then we
analyze all of that and then westart helping you fill in the
gaps.
And then we're like, okay,these are the gaps you need to
(30:35):
fill and this is where you needto spend your time and energy.
And then we build a foundationtogether for you to be able to
go out there and invest securely, cause I mean, when you build a
house, where do you start?
You start with the foundation,right, and so that's really kind
of how we tailor it, um, andthen we're just with you along
the journey.
Along your journey, you know,whatever it is that, whatever it
(30:58):
is that your goal is, that isour focus for you guys, the
student, and then for us, likewe have that goal.
I had a student, you know she?
Her goal was 50 by 50.
So we're like, okay, we need tomake sure we got a solid
foundation and then let's startlooking on that 50 by 50 and
then start getting some units.
She was 42 or 43 years old atthe time.
(31:18):
I'm like, totally doable, sevenyears, hell yeah, no problem,
that's easy, that's not aproblem.
But we need to make sure youhave a solid foundation.
First, we need to get yourfinancial house in order.
We help you do that, and thenwe tailor the market and the
(31:53):
strategy based on your personalsituation.
Speaker 2 (31:55):
I mean, this is something we consult with you on
.
It's like, okay, this is howmuch resources you have, this is
how much time you have and thisis, yeah, how much money you
have.
And then we put that togetherand say, okay, based on that,
let's talk about the market andlet's talk about the strategy
and then put it all together.
Speaker 1 (32:16):
So it's not.
It's not, yeah, it's not asystem in a box where it's a
six-month program.
We had somebody in there whohadn't even bought a principal
residence, never bought his ownproperty before and then we had
somebody else in there who hadthree or four properties he
wanted to level up intomultifamily and wasn't sure how,
and both of them the one guywho is literally green, a
(32:37):
complete newbie, never did anycoaching, listened to a couple
of podcasts.
We got him house hacking in hisprimary residence.
So he's closed on his propertyalready and he's doing
renovations and house hackingthat.
He's house hacking that twoways.
By the way, he's putting in abasement suite and then he's
also got he's a single guy,no-transcript, implementing and
(33:06):
just this one purchase, butthat's going to elevate them and
set them up to be able to domore in the future.
And, yeah, and the other guy,also a young guy and you know,
(33:41):
no-transcript having you on theshow today.
Speaker 2 (33:49):
usually I'm going to tell you this, it's about the 20
minute mark, but we had a shortpodcast, me and you at one of
the events we met, and we knowwe can talk, but it doesn't
matter.
It went longer time and everypiece is every question you
answered gave lots of values,lots of knowledge, so I'm really
(34:13):
excited for people to hear thisepisode and I hope everybody
takes a piece of your knowledgeon their journey and absolutely.
Listen, we'll have to findanother time to continue our
conversation A hundred percent.
Yeah.
Speaker 1 (34:28):
And if anybody, if anybody wants to reach out to me
, they can just go to Instagram.
Hit me up my DMs.
I'm happy to.
I always I love doing discoverycalls with people.
If you want to jump on a quickcall with me, it's just a 20
minute call Bring me yourchallenge, I'll help you through
that challenge.
And, yeah, if it goes anywherefurther than that, then great.
If not, no big deal.
I'm happy to help.
Speaker 2 (34:48):
We'll make sure to put the links in the description
.
Awesome.
Once again, thank you, danielle, and we'll talk soon.
Speaker 1 (34:56):
Bye for now.
Speaker 2 (34:57):
Thanks for tuning into the five questions podcast.
If you enjoyed today's episode,don't forget to subscribe, like
and hit the notification bellon our YouTube channel so you
never miss an episode.
Stay tuned for more insightsand tips to transform your real
estate and business game.
See you next time.
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