Beyond the Headlines with Deanna Boyden
Calvin Hexter (0:00-0:22): I’m here with Deanna Boyden. Deanna, I met you at a wealth genius event, uh, I think it was earlier this year, actually. It was yeah, it was early this year, and and it was such an amazing opportunity to meet you because now we’ve joined forces and you you you spoke such a strong message on stage and
Right away I was like, we need her at REIcon. We need her at REIcon because the message she sends, your energy, your your care factor. There’s there’s so many great things. And I’ve I’ve come across so many amazing investors, coaches,
And a lot of them aren’t willing to share the information like you are. A lot of them don’t have that same care factor. A lot of them, you know, aren’t willing to have these side, you know, coffee table conversations. And you’ve been like, I mean, right from the moment I’ve known you, you’ve been consistently showing up for those around you. And for those of you that don’t know Deanna, she is the uh
She EO of Real Power. I always have to make sure I say it right. She EO of Real Power. Um, and 25 years as an investor and and and not like an investor that’s just dabbling one foot in, one foot out. I’m talking both feet right in the deep end. And I guess let’s let’s start there. Let’s tell us a little bit about your investing experience in the last, you know, two decades and a half.
Deanna Boyden (1:22-1:43): Yeah, yeah. Oh my goodness, the things we’ve seen. I could write a Dr. Seuss book about it, right? Um, yeah, so we kind of came to this like many other people, accidental landlords. Um however, my husband and I had a vision about owning three or four vacation properties that we would move around to and rent them out.
And it was long before Airbnb and Vrbo and all of these ideas. We were just, you know, a couple of kids in small town Alberta with with this idea. Um and always really passionate about real estate, our very first property was a single wide trailer and we actually made money on it.
Calvin Hexter (2:02-2:03): Amazing.
Deanna Boyden (2:03-2:26): Yeah, it was a huge learning for us. Um, because that shouldn’t happen, right? But we did some improvements and we ended up, you know, selling this thing and making a few thousand dollars and we were like, Okay, there’s something to this. And we went on. We lost money on a deal in the early two thousands, and honestly, I think it was the best thing that ever happened to us.
There was a little glitch in the market. You can actually look back and see when it happened. You watch the Calgary Market and it was just going up, up, up, and there’s a tiny little glitch, and we had to sell. It was the most expensive property we’d ever bought. We had to sell it. We lost some money at the time. And I think it has served us well because that’s where it comes from, Calvin, this idea that I’m gonna be honest with people. And you know, I want people to understand that you have to be smart, you have to make the right moves.
You build a portfolio so that if something like that happens with one property, you’ve you’ve got the backing to to hold you up on the other side. And my husband and I were really fortunate to be able to build our business across three countries, um, Canada, the US, and the and the Caribbean. And then we got to this point where we had reached, you know, they they call it the Lifestyle Freedom Day. I was able to step out of my job in corporate America and
Now we get to work with other people and help them see what we have have done because we truly believe if we can do it, anyone can do this. And I love this is what lights me up, right? Helping people to find financial freedom, financial security, um more so. You know, I I believe if every woman and young person had just one investment, the world would be a better place.
Calvin Hexter (3:48-3:56): Definitely. Definitely. And I mean they don’t we talk about it all the time. They don’t teach you how to invest in real estate in school. They don’t tell you how to purchase a home in school.
It’s not something that’s offered at all. And I would say, you know, this day and age, we probably have the most resource-rich environment to learn about investing in whatever whatever is is something that that interests you. But I know that we found a lot of success in real estate and and it was certainly a great vehicle to get us in the direction of our financial lifestyle, legacy goals.
Calvin Hexter (4:23-4:28): And for everybody that’s watching, I know that you probably hear people say this all the time. Like, if we can do it, you can do it.
Deanna Boyden (4:28-4:28): But
Calvin Hexter (4:28-4:51): like truly, that is that is that is accurate. And that’s not downplaying whoever I’m talking to. It’s not downplaying myself. But there’s so much adversity and and learning that goes on in this process of investing. And it’s really coming down to like understanding your why that keeps you going. Because when you lost money on that property in Calgary,
The easier route would have been, okay, let’s just stop doing this. Let’s get up, let’s put the let’s throw the white flag in, let’s hang the towel up, and let’s go do something else. But you didn’t, and I’m curious to know, why did you keep going at that point?
Deanna Boyden (5:06-5:15): Yeah. I you know, I look back now, I mean, I I can tell you, I took to my bed. I was like, you know, it was it was bad at the time. But
It’s a slow and steady, right? You have got to be consistent with it. And so we sort of we recovered, you know, we licked our wounds, but we still believed and we understood that real estate is a slow and steady business. You know, we often hear this, it’s not timing the market, it’s time in the market.
And that’s so true. And so, you know, we uh we uh we recovered from that. It took us a year or so, you know, we we had jobs, we we made up the money. Um, and then we tried again. And it’s not about how many times you get knocked down, right? It’s how many times you you get back up. And so we got back up and we didn’t get up in a big way, right? We got up in a little way. We said, okay, now we’ll try, and we bought a townhouse.
And it’s interesting because I actually did the math on this townhouse. Um, we just sold that property uh last summer and that little townhouse earned us over seven hundred and fifty thousand dollars.
Calvin Hexter (6:15-6:16): Wow. Okay.
Deanna Boyden (6:16-6:17): Right?
A townhouse that we had put, you know, a a down payment on, um, and I can actually prove out where we made that money. So that’s why I say just one investment property can make all the difference in the world. And being in it this long, we’ve seen and lived through cycles, right? Um, we went through the financial crisis in the US.
Where we were down in the States and you could buy properties for 25 cents on the dollar. Oh, I wish I had known how to do creative financing at that point in time. But we were able to take advantage of that. We also learned a lot. We paid attention to the properties that we were looking at, what had gone wrong for people. And they were over leveraged. They, you know, um at the time in the US, you could take out a mortgage for a hundred percent of the value of the house.
And get five percent cash back.
And you know, and people were going and buying new SUVs with that money and then making payments on it. Um so there’s there’s a lot that we’ve learned through these cycles. And I think that’s a really important point for people who are maybe afraid to jump in, they’re sitting on the sidelines right now, or those who have only been investing for a few years, and you’re seeing what’s going on in the markets, both in Canada and the US, where we’ve got a lot of headlines that
You know, are saying prices are down. Um, there was just um in Alberta, I just read about our rents being down anywhere from three to nine percent, depending on the market that you’re in. And that can really matter, right? If you’re tight on cash flow. So there are some people who are sitting watching, wondering, how do you get through that? Well, I’ve been through it three times now. And it always comes back.
And not everybody gets to the other side. You have to be really you know, again, it’s slow and steady, being conservative that will get you to the other side. But this time in the market where we’re seeing a you know, listings are up, prices are down, rents may be lowered, um inventory on rents is is high as well in some markets despite our housing crisis. But there are things that we can really be doing. And I think the key things that you want to do, take advantage of this market cycle. Because
In a few months, I’m not an economist and I’m being very generous with that. You know, it’s likely sort of twelve months before we’re all going, Phew, um, who knows? Um, but we’ll be doing different things. There will be different strategies. But right now, I think it’s really important that people remember that, you know.
Realtors and title companies, contractors, all of those people are a little bit slower now as well. So the first thing I would say for people to be doing right now is build your team, connect with your team.
I have spent so many hours on the phone with various realtors across the markets that we’re in. Um, you know, and some of them, I think the really smart ones are saying we don’t know everything right now. We’re watching the market. People, you know, the smart people are really watching this. It’s a great time to be thinking about purchasing. Um, you know, the one market that I’m in.
They’re we’re looking at paying sixty percent on the dollar of market value of properties right now. So there are deals out there, deals that you can find and more so deals that you can make. And when you have the right team members, those deals will will help you. And I I’m so happy to hear at the upcoming event, we’re going to be talking about wholesalers as well, because wholesalers have become a really important person on my team right now.
Um because I could sit and look for properties all day long. Or I can go give my favorite wholesaler an order. I can say, Go find this, this is exactly what I’m looking for. They go find it, bring it back, I pay them some money, we all make money and it and we provide housing to people on the other end. So I think that’s a really important one. So start working on your team. Um also on your properties. Again, contractors. I just had one of my contractors call me.
And say, hey, you got anything you need to have done these days? Um because people aren’t spending a lot right now. Consumer spending is down. So so, you know, the regular renovations, home renovations maybe aren’t happening. So it’s a great time to actually look at sprucing up your properties.
And one thing that you can keep in mind, often people want to do the refinance right away to get that money spent back. But if you can hang on, those property values will start rising again. And maybe you want to wait and take that refi as the prices rise. So don’t feel that you have to take that refi now when values are low.
So I think working on the properties, driving up the value, making sure that you have the best product for the tenant who’s looking. That might help you to get a little more rent. You know, you want to be the most desirable unit. So get great photos. Um, you know, work on your listings. You know, if you have multiple properties, often like we have the same listing that we would use for the same units all the time.
Take a look at those. See if you can spruce them up a little bit. Maybe play with some virtual staging. You know, but there’s nothing like a fresh coat of paint as well, right? In some of these properties. And then I think the third thing to be doing during this time is really investing in yourself, in your education, understanding the strategies, the markets that you want to be in. This is a fantastic time to be looking for more education.
Get yourself into the area that you wanna learn about.
Whether that’s with a program or a a coach, whatever that may be, but go learn. I am doing so much learning right now. Um, you know, that’s that’s the mode we’re in. There’s a lot of great stuff happening. Um, it’s just hidden under these headlines. So I want to make sure that people aren’t frightened off by this market cycle. They’re you know, every market cycle has good and bad. And you just have to understand what it is and take advantage of what’s going on.
Completely agree. Yeah.
Calvin Hexter (12:52-13:08): And you know what? It’s it’s interesting enough. You know, I went to one of my first conferences five years after I one of my first investor meetings five years after I started investing outside of my primary. And I didn’t go to my first one until 2018.
And it’s interesting when you go to those rooms, you know, you always think like everybody’s, you know, these little Donald Trumps that are just building these empires. But then you realize like there’s a lot of people out there that don’t actually take action because of the headlines, because of different factors that are happening. There’s always a reason not to. And it’s always easier not to, right? It’s easier not to wake up early. It’s easier not to read the book. It’s easier not to exercise. It’s easier not to go outside your comfort zone.
But it’s not easier to get fulfillment by by pursuing those choices and and having that discipline and and and doing those extra things are really gonna be, you know, it’s what’s gonna make the difference. And you said it as well, like, you know, whether you’re in a expanding, contracting, flat market, there’s always reasons not to, and there’s always reasons to. And I think it’s important to look at the opportunities.
And it doesn’t mean being hasty with your with your approach or not doing your due diligence. It’s still being able to achieve the numbers that you need to achieve. Because again, if the market shifts, you want to make sure that you’re prepared. Um, but there’s definitely a lot of opportunities right now. And
We don’t know what the market’s gonna look like. I know Edmonton, we’re we’re still pretty flat for the most part as a seller’s market. We’re not seeing major declines. It’s a very slow contraction that we are seeing. But again, if we can anticipate a little bit of the direction we’re going into, so if we’re seeing a contraction in two of the historically busiest months of the year, um, what do you think quarter four is gonna look like? It’s probably gonna be a little bit slower.
You know, how are sellers feeling? Sellers are sitting, average days on market every single month is increasing by two to three days. You know, inventory is increasing, mean that there’s more competition among sellers. So sellers are gonna be more desperate. Some sellers will be more desperate of offloading their properties, especially if they’re vacant, especially if their renewal rate is higher than what their original mortgage rate was. Many different factors. I can give you uh, you know, a dozen different factors of of how s sellers are more motivated right now in a contracting market, typically more than any other market out there. And this is the opportunity to to achieve the most creative financing deals too is in a contracting market or a buyer’s market. So go it out, go out there, put your offers in. And and again, like one thing that you said that I really like Deanna is
You know, if you can kind of anticipate where it’s going a little bit and prepare yourself. So let’s let’s think about this. Say that prices do drop. What tends to drop afterwards? Usually a little bit more. We haven’t seen too, too much of a drop in in rental rates. Our vacancy went up from 2.6 last year to 3.2, which is still significantly better than our neighbor, um, you know, our southern neighbor Calgary. And so we’re we’re maintaining good numbers, but if we do continue to to to increase our inventory,
If we’re noticing an increase in days on market, we will see prices start to drop, which we’re seeing slightly right now, just with everything sitting. What’s going to happen to the rental market? If we’re seeing a contraction in the rental market, rental prices go down, vacancies go up.
Do the things that Deanna’s saying, right? Like, how do you make sure that your property is the best or your best unit? How do you make sure that your unit is the best looking unit in the block? Like, use this opportunity, go on Rentfaster, see what they’re renting for, see what they look like. If you were a tenant, would you occupy your suite? Would you occupy yours, you know, their suite? And if it’s their suite,
Maybe you gotta do a coat of paint. Maybe you gotta do little things. You don’t have to offer, you know, incentives all the time to be able to to get good quality tenants. Just offer a safe, clean space that doesn’t feel like, you know, uh it it it’s been the use of us it’s not a slumlord space, right? So there’s just so much
Deanna Boyden (16:47-16:52): two favorite words though, Calvin. Safe, clean housing is is so important.
You know, it can be a matter of uh you’re right, it doesn’t have to be rental incentives. Um switch up the pictures, right? Uh there was a um I just was talking with someone and their unit they were getting no showings. And I said, well, don’t show the outside of the building. Uh like switch it up, show your best, show the experience, right? Think of, you know, when we when we advertise vacation rentals, the pictures are different of it can be the same property.
Because you’re touting the experience. So let these people know what it will feel like to live there. Show the bike path, show the pond that’s nearby, show a transit, show
The the you know, the living space, like whatever is the highlight of that unit for you, show that. Um, uh you know, and that doesn’t cost you any money. Switch those pictures around. I think that’s such a great point. And y you know, the other thing you’ve touched on, first of all, don’t we all want to now go shopping in Edmonton over the next couple of months? Right? I mean Edmonton is the hot spot right now. I don’t say this because I’m Albertan. You know, I’m not one to ever say because I
I live most of my life in Calgary that people should invest in Calgary. I invest where returns are best, obviously, right? Um, but BC’s restrictions and some of the stuff that’s going on around legislation and and the tenants act out there.
You know, we’ve actually sold out of BC right now. We’re not playing in that in that uh playpen right now. Um, Edmonton has great numbers still coming. Like you say, it’s more of a contraction. You know, we always see the tale of two cities and Edmonton is the more moderate. You’re not going to get the deep up and down that you that you get in Calgary. And that’s fantastic for newer investors as well, um, because you want that more moderate thing and and and I think it’s just really important that we remember
Growth happens where we feel some discomfort. And so as long as you’re getting in there, get around experienced people. Um, you know, i if you’re if you’re looking to partner and invest, look for those experienced people who know what this looks like, um, you know, and and either get them on your team or or have them, you know, have them as advisors on your project. But you have to get a little bit uncomfortable.
You have to get educated and then you you make your strongest moves. You know, I used to have I used to have a couple hundred people who would who were working for me and they would come to me to make decisions. I’m really good at making decisions if I have some data. Right? And so I would say, just give me the data. So become a bit of a data hound right now. Don’t you know, be careful that you’re not into what we call analysis paralysis. You’re not, you know, always looking for the perfect deal. You don’t need a home run. You just need to get on base. Yeah.
Calvin Hexter (19:56-20:07): Right? Very well said. Very well said. And you know what, the going back to REIcon is going to be an awesome opportunity for you to get educated, not only in, you know, Canada’s
You know, Spotlight Market Edmonton, where it seems like most people are are focusing their attention. But you’re gonna have the opportunity because if I were to, you know, if I were to go buy, you know, five Canadian real estate books from from investors that are taking action right now, I would say that each one of them are presenting at REIcon. And the reason why we selected them is because
They offer such great insight, and it’s gonna be your opportunity to educate yourself, get some clarity on what the next steps in your real estate journey might look like that, and make some amazing connections. Have the opportunity to meet Deanna, have the opportunity to meet some other amazing, amazing speakers, amazing professional partners. Because we know that, you know, having
Having professional partners in a city that you don’t live in is usually the largest barrier to entry, is you know, it’s it’s not having that team that can that support you. So make the trip to Edmonton. We’ve discounted the hotels at one of the nicest hotels in the city, and it’s in the it’s it’s in the same building as the venue.
You know, this is your opportunity to step out of that comfort zone, you know, get involved, learn and and be a part of something great. And I think if you don’t, I think you’re gonna get some serious FOMO, especially with where the market’s going, because we’re gonna be uncovering all of our favorite tips
You’ve been through markets like this, Deanna, numerous times. Learn from Deanna. She’s gonna be on stage. She’s gonna be in breaker room. She’s gonna be very present throughout the entire event. And I think it’s a great opportunity for anybody to to learn. So Deanna, we’re so excited to have you at REIcon so soon, September 6th and 7th.
Um, it’s gonna be absolutely amazing. If you have any questions, please reach out to us. And I think Deanna even has a special code for all of her followers. So if you’re not following her, make sure that you do as well. Um Deanna, I’m looking forward to seeing you.
Deanna Boyden (22:01-22:15): I’m so excited about this. And and I just you you said you you don’t wanna have FOMO. I would say it’s actually mo. It’s just the missing out. It’s not the fear of. Get on a plane. If you’re thinking about Edmonton, this is to people outside of Alberta.
The the investment in this weekend, you know, uh i staying in a hotel, coming and meeting like you will make that back in spades on your first deal. Um that is always sort of our intention as leaders, you know, that that when we’re offering um an opportunity to get into the room with us and talk, um, we want to make it as valuable as we can. So if you’re outside of Edmonton, um, you know, if you’re out in Ontario and wondering what all the hoopla is, um, come on out. Uh jump on that plane and come join us.
Um and yes, follow me um if for for the code. I will be there. Um and if you are coming from out of town, drop me a line ahead of time because I’d love to sort of sit down and and let you know maybe you wanna come in early on Friday.
Um and go drive around. I always think that’s a great opportunity. Maybe you want to get matched up with some of the people. Calvin, you’ve got this great program of ambassadors on the ground who are people investing in Edmonton. I’m sure some of them would love nothing better than to drive folks around to look at some of the properties. Like so reach out um because it’s such a great opportunity and and your team is just bringing together a fantastic event. Um I get to attend a lot of these events through the years and I’m so excited about this one because the content on stage, first of all, your lineup of speakers is incredible. Um and second of all the organization around this, this beautiful venue. Um but the focus, I love that you’re focusing on the deals and making the deals and helping people get that foot in the door. So don’t be afraid, don’t mow. Forget the FOMO. It would actually be mowing.
Calvin Hexter (23:53-23:54): That’s right. Don’t mow
Deanna Boyden (23:54-23:57): commit yourself to to REIcon. I love it.
Calvin Hexter (23:58-24:04): Deanna, we’ll see you very soon. Enjoy your time and uh in beautiful Palm Springs and we’ll see you in Edmonton very soon, okay?
