Scott Dillingham: 00:21

Welcome to the Wisdom Lifestyle Money Show. I'm your host, Scott Dillingham. Today, I have a very special guest with us. His name is Ryan Poole. He's the owner of Real Trade.

Scott Dillingham: 00:29

He's also a realtor, and he specializes in working with properties in the South Florida area. So welcome, Ryan.

Ryan Poole: 00:36

Thanks for having me here, Scott. I'm really excited, you know, to be on the show. You know, I'm originally from Minnesota, you know, been down here south for over 25 years, so Northern Minnesota. So I feel like a Canadian. We used to go to Winnipeg when we were young because of the drinking age of 18 up there.

Ryan Poole: 00:51

And we spent a lot of time up there playing hockey as well. So glad to be on the show, Scott.

Scott Dillingham: 00:56

That's awesome. Were you one of those Americans? Because we have I live in a border city, and they would come over because you can drink younger in Canada. Is that what you did?

Ryan Poole: 01:04

Yeah. Yeah. That was really good. Northern Minnesota, there wasn't a whole lot of, nightlife. Right?

Ryan Poole: 01:09

I grew up in a small town called Pfeiff River Falls. And, yeah, there wasn't much going on. So Winnipeg was actually our closest biggest city, if you can imagine that, and we spent a lot of time out there. We also have a 2 of fishing cabin on Lake of the Woods on the on the Ontario side. And we spent a lot of time up there too, which is, you know, grew up catching walleye.

Ryan Poole: 01:25

I love to fish. One big reason, obviously, I moved to Florida. I love the ocean and the fishing and all that fun stuff too.

Scott Dillingham: 01:31

Yeah. I know. Me too. I actually for those that don't know this, but I was actually born in Maine. So I grew up on the East Coast as well.

Scott Dillingham: 01:38

And then when I was 5, my mom, she remarried. And the guy there, he got a job here in in Windsor. So I just kind of grew up and stayed here. But, yeah, for the first five years of growing up on the ocean, I loved it, and it's in me. I wanna live on the water now.

Scott Dillingham: 01:51

It's just something I wanna do. So

Ryan Poole: 01:54

Come down here for a lot lot of lot of water down here in South Florida as you know.

Scott Dillingham: 01:58

That's it. That's it. It's warm unlike where I'm at.

Ryan Poole: 02:00

It's good.

Scott Dillingham: 02:01

But no. That's awesome. So I'm very curious, Ryan. So obviously, you've done some big things, and you're gonna get into that, and you're gonna talk about kind of what you've done and what you've accomplished and who you are. But I'd like to hear sort of the transition journey.

Scott Dillingham: 02:13

So for anybody listening to this, you know, how can we get into your shoes or how can we grow as a person? So I'd love to hear your story about, you know, what it was like growing up to where you are today.

Ryan Poole: 02:26

Yeah. You know, I have to have that kind of entrepreneurial spirit, right, where I always wanna challenge myself and try different things. And I think that was one thing that moved to Florida. Just a little bit about my backstory. You know, I as I mentioned, I grew up in Northern Minnesota, which, you know, I loved growing up there.

Ryan Poole: 02:40

The people were awesome. So many great things. I love the outdoors, fishing, hunting. I was a hockey player, played hockey, had a great friend network, but, you know, it got to the point there, you know, as I got into my early twenties, I was like, wow, man. This weather's a tough one.

Ryan Poole: 02:54

You know, the Minnesota winters were really tough. I think it's even more farther north than you are, right, in Toronto up in Northern Minnesota, and, you know, the weather's really tough. And, you know, I luckily came down to South Florida my 2nd year in spring break in in college and just fell in love with it. And I actually went to the Florida Keys, and I was like, wow. What a beautiful place.

Ryan Poole: 03:11

And I found Jimmy Buffett, listened to all the cool songs that he sings about the Caribbean atmosphere in life, and I really fell in love with it. And I said, wow, this is some place I really like to go. Went back, finished that year in school, and was just gonna come down here in South Florida to work for the summer in the Florida Keys. And, you know, after working for that summer, I started creating a really good network, actually meant a mentor, multimillionaire that worked at a restaurant that I worked for the summer. His name was Mike.

Ryan Poole: 03:37

And he goes, you know, Ryan, I'm like, you know, I didn't know what I do. You wanna do my life. He goes, listen, Ryan. He goes, you know, my restaurant's very successful, but I've made all my money in real estate. And he goes, Florida's gonna blow up here in the next 20 years.

Ryan Poole: 03:49

If I can give you any kind of advice, get your real estate license, and start learning real estate at a young age like you are right now because I was in my early twenties. And, you know, I took his advice to heart Scott, and I got my real estate license. And, you know, it's been an incredible journey since. You know, it's been a lot of just a lot of opportunity. I had my own investment properties, rights that I've invested in, met so many great people in real estate.

Ryan Poole: 04:11

And the big thing is, you know, I I've got to impact a lot of people's lives. As I've been doing this now for over 20 years, I really get to see the impact that I've had on on, you know, my clients. Right? Especially a lot of friends that I've sold real estate to of how much wealth they built and how successful they become just from owning, you know, South Florida real estate, and it's been a very rewarding experience. And, you know, it's an impact on my life.

Ryan Poole: 04:34

I actually had some things go through Minnesota too. I had, you know, just a little bit of personal level. You know, I had a a tragedy happen to our family. I had a twin brother, if you could imagine that. He passed away when I was 17.

Scott Dillingham: 04:42

So that was part of the reason too.

Ryan Poole: 04:48

I think, Minnesota, as you know, it can get very gray during the winter. That was a big reason to I wanted to explore and just be somewhere very bright and green and, you know, like summer all time. So that was another big reason, you know, to move it down here. But, yeah, so I got my real estate license, you know, at 20 years old and started cutting my teeth in real estate, started actually working for developers, selling new construction. It was very successful in that in the Florida Keys.

Ryan Poole: 05:14

One One thing about the Florida Keys, there is a lot of inventory. It's selling new construction. We used to joke you'd sell yourself out of a job. Right? You know, we'd have so I set up a job, so you'd go to new projects and passion like, wow, there's more opportunity up on the mainland.

Ryan Poole: 05:26

So that's when I moved to which I am now at, which is beautiful West Palm Beach. And let me tell you something. So much incredible. You know, things are going on here in West Palm, so many opportunities. And it's been just something else to watch West Palm grow now here for the last 20 years and see the trajectory of where it's going in the future, especially when it goes to real estate.

Scott Dillingham: 05:48

That's awesome. Yeah. And I'm super excited. And I know you have some examples to show us. Really excited to see that.

Scott Dillingham: 05:53

Now just to, the only negative thing that I hear about Florida, Mhmm. And I know it's not really a huge thing in your area, but I'd like you to touch on it because, you know, some people it comes up. Right? It's the flooding. So can you talk about, you know, how West Palm Beach, you know, it's not so affected compared to other places?

Ryan Poole: 06:15

Yeah. You know, obviously, South Florida, we have storms here. We call them hurricanes. Right? And Yeah.

Ryan Poole: 06:20

With those hurricanes can bring flooding, you know, which can bring flooding. And And there's a different area of a way the state is kinda set up. Right? There's a, you know, there's a geography and, a way the state's set up. And usually on the West Coast, it's a little bit lower.

Ryan Poole: 06:32

So you're gonna have lower more flood in lower areas with more flood zone. Here in West Palm, if you kinda look at the topography and geography, we're like on a ridge here in West Palm Beach area. So we're we have areas here that are 20, 30, 40 feet above sea level, right, that are right here in the immediate area. So we have, number 1, a good drainage area. We have coral bedrock here that's on a kind of a slope.

Ryan Poole: 06:55

So it's a good drainage area here for West Palm Beach. And, yeah, our our areas are tend to be a lot higher than on the West Coast of Florida where you experienced a lot of flooding. You know what, you know, last year, the year before, they had that big hurricane there in Fort Myers and had a lot of had a lot of flooding and stuff like that. Yeah. But now what you do have, as you know, insurance for that.

Ryan Poole: 07:14

So you have flood insurance that you can purchase. You have wind insurance that you can purchase for all that kind of stuff. But, yeah, that's one thing I I tell people in the, you know, on the on the West Coast United States and, you know, in for Canada. Right? You have earthquakes.

Ryan Poole: 07:27

Here we have hurricanes. Knock on wood. We've been really lot lucky here in West Palm. We haven't had a major hurricane hit here since the 19 twenties, and we've had some, like, category, like, twos, you know, and low threes that hit, but we haven't experienced luckily, any major flooding here in the West Palm Beach area because it is a little bit higher, even more so than Miami or Fort Lauderdale.

Scott Dillingham: 07:47

Yep. Exactly. And I think that's why your area is awesome for people that want to invest in Florida because there are areas and, you know, not everybody on this call knows this, but there's areas that you cannot get flood insurance because it just keeps happening over and over again. I think over time, you know, insurance companies will step up to the plate, but I know a lot of places are still dealing and trying to rebuild. Right?

Scott Dillingham: 08:11

So the fact that you can easily get insurance in West Palm Beach and surrounding area, It goes to show you that the insurance companies are not really concerned with the area. So for an investor, I think that's super important.

Ryan Poole: 08:24

Yeah. I'll say this in my 20 years experience of selling real estate here in this area. I've never once not had a a client not be able to get, you know, insurance for their home, flood and wind insurance for their home. Yeah. It's pretty And I got some great insurance agents too, by the way, that are in my network, somewhere on RealTrade, right, that are on there that we can give you some great quotes.

Ryan Poole: 08:42

I tell everybody get a cup at least 2 or 3 different quotes when quoting your, you know, your insurance.

Scott Dillingham: 08:47

No, that's awesome. That's cool. So, yeah, I would love and thank you for that. I would love for you to start so you can show everybody here your presentation. Now, obviously, a lot of people are going to be hearing this on Spotify and Apple.

Scott Dillingham: 08:59

So if you could try to be detailed and explain things for somebody who's just listening that they could still pick up the details. But, yeah, let's hear more about you and then look at some of these property examples.

Ryan Poole: 09:10

Yeah. All right. Here. Let me share my

Scott Dillingham: 09:12

And obviously talk about RealTreed, which I think is the best tool to get properties in South Florida.

Ryan Poole: 09:18

Yeah. No. For sure. That's one of the the more exciting ones that I wanna that I wanna share with Scott is about RealTrade. You know, we have thousands of you users, lots of people looking for the for properties on there and all that kind of good stuff.

Ryan Poole: 09:31

I I literally build real trade to help clients, right, like this. So this is pretty cool. Alright. So let me share my screen. Alright.

Ryan Poole: 09:38

Can you see it there, Scott? Yes. Alright. So this is something that, you know, I love the sun, sand, and ROI, investing in South Shore Real Estate. So I wanna say this.

Ryan Poole: 09:47

This is something that's really important. Having grown up in Northern Minnesota is, you know, you know, and being in real estate, all my investors that I talked to, a lot of them have been here in Florida, but one thing and you get a great ole ROI investing in Florida and some, like I said, have had some great returns and impacted life positive, but I also wanna do the ROL, which I call it, which is the return on life. And that's something that I'm really passionate about. Selling real estate in Florida is the lifestyle that you get to have here of owning real estate in, you know, in Florida. Right?

Ryan Poole: 10:18

So many wonderful things to do. I'm a big outdoorsman. I love to I love to dive. I'm a big tree diver spear fisherman. So So if you can manage this like hunting underwater, you know, where you actually dive down and and hunt the fish.

Ryan Poole: 10:29

I I do a lot of hunting here, believe it or not, in South Florida. We got deer hunting, hog hunting. We have wild turkey, which we have a famous subspecies here. Wild turkey people come from all over the world to hunt, and it's just a lot of outdoor activities. With big bike rider, Scott, as you know, I just finished a 160 mile bike ride from the University of Miami to Key West.

Ryan Poole: 10:49

Actually, not this weekend, but the weekend before. And he could do all this stuff year round. You know, I got my son out of his I have a 7 year old son. He plays baseball, and he can play baseball year round, Scott outside. So I can't express that enough of that ROL, which return on life.

Ryan Poole: 11:04

Now I I spoke a little bit about myself, about my, you know, real estate experience, but I've been active in real estate as an investor, a full time agent, partners in a brokerage, for over 25 years. So I have tons of experience, you know, and I could you know, I'm not a big one to kinda toot my own horn, but I was an asset manager at one time helping large hedge funds acquire investment properties. At one time, I had, 250,000,000 under management just myself, Scott. Wow. That's impressive.

Ryan Poole: 11:30

That I was managing. Yeah. That was and they were mostly buying distressed assets, fixing up, selling them, some they would hold. So I had a lot of experience, have a great contractor network. Like I said, I had a lot of great lenders like you, Scott, my network, and then also had a lot of insurance agents and property managers and all that where I can put the pieces together.

Ryan Poole: 11:48

But the one thing that I'm most proud of, founder of RealTrade. So as I saw the industry going towards tech as I was in real estate and I saw what's happening with Zillow and Trulia and Redfin and realtor.com, I really saw where the industry was going. I'm like, wow. The consumer's becoming smarter. They're gonna want all the information.

Ryan Poole: 12:06

They're gonna want the best information, most updated date information on the market, and I wanted to provide that. So that's why I built RealTrade. So RealTrade, what it is, it's a marketplace where buyers and sellers can search for properties for sale or do research on properties like they can on other platforms. But the biggest thing is we have an integrated social media platform where not only they connect with agents that have proper sale but connect with awesome service providers that they're gonna need to like you, Scott, you're on RealTrade, like some awesome title companies, attorneys, inspectors, appraisers, you know, everything that you need to have successful real estate transaction, you can get connected with on RealTrade. So, yeah, very excited about that.

Ryan Poole: 12:46

So that's a little bit about myself, guys. Love helping. I have a huge passion for helping people, not only to get great returns, but something that really, like, motivates me, Scott, is having that great return ROL, that return on life, like I said, is I want you to come down here. I want you to enjoy South Florida. I wanna show you the the great restaurants to eat at, some awesome fishing.

Ryan Poole: 13:07

I have a boat. I've taken my clients out, which I think you know the was. Scott taken them out plenty times. You know, Charles Herbstott had him out of my boat many times, loved to to take my clients out and really show them what floor is all about. I mean, the best way to see floors from the water.

Ryan Poole: 13:21

You know, we're surrounded by it. Love giving them tips of taking trips to the keys. If I have the time, I'll go with you. You know, I used to live down there and it's just such such a beautiful drive to go to Florida Keys and see Key West. Awesome.

Ryan Poole: 13:32

Lot of great things there. Yep. You know, the big things I work with a lot of Canadian investors, as you know, Scott, even before we met, And there's a big some big reasons of why Canadians are investing in South Florida real estate. And, you know, the big thing is we talked about it here, but as we started is our climate. You know, right now is it's it's such a magical time in South Florida because it's almost like someone's getting just turns a light on in our humidity breaks.

Ryan Poole: 13:57

And now here from the end of November all the way through May, we don't have any humidity here in South Florida. And our average daytime temperature is gonna range anywhere from about 65 up to about maybe 80 degrees. So you're talking to said perfect temperature, no humidity. It's just a beautiful time to be here, you know, and, of course, we have all these awesome tourist activities. Of course, everybody knows the beaches in South Florida, but here's a big thing too.

Ryan Poole: 14:24

We have Orlando here in Florida, which is in the center of the state, which something exciting just happened here is we had now have in here in the West Palm Beach, the BrightLine trains train service, which is a high speed train, European style train that can bring you up to Orlando in less than 2 hours and go out there and visit Disney World. So now we have a lot of my clients from, hey, Ryan, we're taking the train up to Disney World for for the weekend and they take it up there. We have a great, you know, we have so many other tourism activities. Obviously, we touch on those, the hunting, the fishing, the diving, a lot of great restaurants, a lot of culture. You know, we have a lot of New Yorkers, as you know, has moved down here to South Florida, Scott.

Ryan Poole: 15:01

So they're bringing there a lot of their diversity and their culture with them. We have a lot of great things in West Palm Beach like that. It's a true metropolitan area. We have a great diverse market, you know, operating anything from luxury condos to single family homes, suburban areas, so we can find you something that that aligns with your investment goals. Now here's a big thing.

Ryan Poole: 15:19

This is why we've had a lot of Americans and why we're getting a lot of big influx to South Florida. Close to a 1000 people a day are moving to Florida, Scott, and a big reason that we have and this is something, say what you want about DeSantis, our governor, you know, but he called it right. You know, he did some really great things for businesses. One thing we have, we don't have any floors state income tax. So that's a huge advantage for a lot of investors here, so they don't have to pay state income tax for the gains.

Ryan Poole: 15:47

And we also have some great laws as far as as that they've passed for renters. Right? So I know in Canada, right, they have a basically a structured where you can only go up 3% a year on your on your rents. We don't have that here in South Florida. So as the market changes, you can change quickly too with the market.

Ryan Poole: 16:05

Of course, our currency exchange is why a lot of, you know, Canadians are buyers. It's almost like you're putting your money into an American bank because we can sell there in American dollars. And historically, you know, South Florida has experienced relatively stable real estate appreciation. Much now so obviously since COVID, and we've come more discovered. You know, there were people down here.

Ryan Poole: 16:25

We were on this crazy lockdown through COVID. We had a lot of people coming here, which put more, you know, buying pressure in South Florida. But even last year, we've looked at the numbers, Scott. We still see an 8 to 9% in appreciation from this time last year within the last year.

Scott Dillingham: 16:41

That's

Ryan Poole: 16:42

good. Yeah. Very good. You know, and I, you know, model things out at a 5%, which I can show you as we get in this presentation with that too. So definitely good solid long term investment.

Ryan Poole: 16:52

All my clients that have held 5 or more years, you know, Scott have been very excited with their investment. So a couple part 2, you know, obviously, a a big destination of South Florida versus the West Coast of Florida and some other areas areas is, you know, where an international appeal. You know, Miami is only about about an hour's car drive. You can take the high speed train there and be a little less than an hour, but that's an international market. You know, we have people from all over the world, you know, from South America, Europe, Asia that are now coming to South Florida to vacation and spend time and buy real estate.

Ryan Poole: 17:26

Let me tell you something. A lot of those people go to Miami, right? They see the craziness and this is why we're getting a big influx here and some great capital. You know, some, appreciation here at West Palm is, well, we love South 4, we love the weather, but it's not quite as crazy it is as it is in Miami as far as activity. Right?

Ryan Poole: 17:42

So we're a little bit more laid back here in West Palm. Diversification, there's a lot of diversity here as you know in in South Florida that can that you can help with investing here versus, you know, other places in Canada. We now this is a big thing and I touched on this as a strong rental market. And not only do we have, you know, the the long term tenants, right, which a lot of my clients have long term tenants, meaning nearly tenants, right, but we also have which is a great option which I'll go over a couple of those is the short term rental, you know, market, which is very strong as well as we see some of the highest, vacancy rate, you know, the highest vacancy rates of anywhere in the country as far as if you look at air DNA and some of the other platforms that track that. So there's close to a 1000 people a day moving to Florida and they all need housing even if it's just temporary housing.

Ryan Poole: 18:29

So it's a strong market. Of course, our infrastructure, which I talked about, the new BrightLine station in amenities. We have great highways, airports. I mean, right here in West Palm Beach, we have the Palm Beach International Airport. I know starting this winter, they have direct flights, I believe, from Toronto right here.

Ryan Poole: 18:44

So that's a huge attraction to a lot of places. Great shopping. We have outlet malls. Of course, South Florida were all really well known for our dining options. I love eating out.

Ryan Poole: 18:53

Seafood's one of my favorite things to experience, not only more fishermen, so I love fresh seafood, and there's so many great amenities here that we have in South Florida. Stable legal environment, we touched on that. You know, it's very well established. Our real estate transactions here in South Florida, we have great security for foreign buyers as well. And then, of course, the you touched on the potential for, capital appreciation and then the networking opportunities.

Ryan Poole: 19:18

South Florida, let me tell you, has a very vibrant real estate community. There's even people's building, you know, online social, you know, social media platforms just for real estate. Right? So it's very vibrant. There's a lot of people that wanna help you here in South Florida real estate and help you reach your goals, and I'm one of them.

Ryan Poole: 19:35

So it's a great networking opportunities here in South Florida for real estate. Awesome. Awesome. So people have any questions, feel free to ask as we go. Right?

Ryan Poole: 19:46

They can raise their hands, Scott. So let's go over a couple examples here. So this is a real world example of a property that I just sold, right, that I just closed with a client. This is one of my favorite types of investment properties. This is a 4 unit.

Ryan Poole: 19:59

Love to sell these multifamilies, you know, anywhere from 4 to 20 units. This is a great one. This is in Lake Worth Beach. So this is just south of West Palm, where you're talking 10 minute, 15 minute drive to downtown West Palm Beach. Lake Worth Beach is a very up and coming area.

Ryan Poole: 20:14

There's a lot of opportunity for growth on the equity side here. The rental rates are great. It's almost like a little I'd call it kinda like your quintessential South Florida beach town. Right? So it has a lot of history, a lot of artists in the area.

Ryan Poole: 20:27

So the purchase price on this was 830,000 was 4 units. They range from 1, 1 to 3 studios and the gross annual rent on this is a 105,000. Here's kind of the financial breakdown that we had for this client. So the rental rates actually, I'm getting these actually, a little above these on the leases that I that we signed, but anywhere from 18.50 a month for the studios to 26100 then for that one one. And then the cool thing is here in South Florida that they do a lot is they'll keep all the utilities under the the owner's name, and then you charge a utility fee of a $150 a month, you know, to the tenants.

Ryan Poole: 21:04

So it ends up he actually is getting 8,750 a a month, you know, as far as revenue on that. I mean, here's your taxes, your insurance, you know, utilities, which he's paying your pest control, lawn maintenance, and then a 5% property management or real realtor fee. And, of course, here's his mortgage, but he took out he did only a 20 year mortgage. I know you have a lot of other options that you can go book with people, Scott. And this just ends up being as cash on cash return ends up being 11%.

Ryan Poole: 21:33

So this is a great option to a lot of investors that I work with is is selling these types of multifamily properties, and they they got great returns and get great rents.

Scott Dillingham: 21:42

For sure. And I'll just touch on this too, guys. So you see the monthly payment on the mortgage at 20 years, right, is 5,048. So you're you're making awesome money, but you can go with a 30 year or even a 40 year interest only option in the states. So this person obviously wants to pay off this home.

Scott Dillingham: 22:04

Right? But as an investor growing your portfolio, I believe it's best in the beginning not to focus on paying it off. Right? Get that interest only. Build up your portfolio.

Scott Dillingham: 22:13

And then when you transition in life where you're like, okay, now I want to pay these off and live off the income, then you can increase your payments. But he's you can make some killer money. And they say too, I don't know if you know this, Ryan, if it's a Canadian thing or whatnot, but the 1% rule, it's called 1% rule because if you can rent a property for 1% of the purchase price and you have an amazing investment on your hands and you've just literally showed us the 1% rule still works.

Ryan Poole: 22:41

Yep. There it is right there. Yeah. I know it works. I mean, it works, and it's, yeah, it's a beautiful thing.

Ryan Poole: 22:47

He's very happy with this asset. I actually sold this particular buyer another asset, you know, not too far from here. You know, the multifamily option is awesome, which I'm excited about your opportunity too, Scott, that we can maybe touch on in the presentation too after we're done here. Alright. So let's go to the next one here.

Ryan Poole: 23:01

Now this is a cool one. Now this is one this is one that I've actually sold a number of clients in this actual complex called the Courtyards, and this is in downtown West Palm Beach. So this is right in the heart of the Metropolitan area in West Palm. Of course, you're still only, like, over the bridge, the beach. We're talking 5 minutes.

Ryan Poole: 23:19

And this is one particular condo now that you can do short term rentals. Most condos, I just want the, you know, the viewers to know that you in south for most condos, you can't do short term rentals. Right? They're gonna have to probably do a year a year lease or maybe, like, a 6 month lease minimum. But this particular one allows with the HOA rules 30 days, so you can do 30 day rentals in the actual for your unit.

Ryan Poole: 23:42

Great. Get some great returns. Yeah. And they're averaging 57 a year night or, I mean, 57100 a month or a 199. The purchase price on this one is, like, 430,000.

Ryan Poole: 23:52

Now here's the financial breakdown or excuse me. It was 4,450,000. This is a financial breakdown that we did with an investor. They put down, had your closing cost. They put in some furnishings.

Ryan Poole: 24:02

Right? Because the only thing is, obviously, if you do a short term rental, you have to furnish the unit. Right? Because people are gonna come in for a month and furnish it themselves. The interest rate at 7 a half percent, 30 years, I think you probably have a a similar product to this, you know, Scott, that we have, and this should be their home insurance, the taxes.

Ryan Poole: 24:20

Right? So 27, 30 a month. And then, of course, if you're averaging a 190 a night, which would be the average at 85% occupancy, you can see what your net profit is. Now I did factor in here a management fee of 10%. It wouldn't be quite as high as, like, a Airbnb because, remember, you're only doing monthly rentals, so it's gonna be around 10% As you get higher towards the Airbnb models, that'll scale up to 15.

Ryan Poole: 24:44

2 could be as high as 18%. Okay? But here, as you can see, the net monthly revenue ends up being a cash on cash return right at about 8% in any of your IRR if you appreciate, I project a 5% equity growth per year. Like I said, we did 9% this last year, but ends up being IRR levered at 13% or your cap rate at 8%, 13%. So that would be a another pretty good one right there.

Ryan Poole: 25:10

But the nice thing on this one that I wanna say, Scott, is, like, that occupancy rate that, you know, 85%, remember, you could come in and use that for 2 months. You know what I mean? You could have 2 months that you could come and have, which I like to say, the ROL. Right? The return on life where you could actually use your unit, come down and enjoy it, which is pretty awesome.

Scott Dillingham: 25:31

Yeah. I I think it's awesome too.

Ryan Poole: 25:34

Yeah. I mean, you know, I have clients right now that are doing this. I have one client that bought here. They're what's you know, they're millennials. Right?

Ryan Poole: 25:40

They're in their thirties, and they they're nomads. Right? So they travel all over the world. They're they're called the new digital nomad. They all work from their compute.

Ryan Poole: 25:48

And, you know, they rented out short term and have come back for a month to West Palm, then they'll leave for 2 or 3 months and travel and come back, and they've been very happy with that investment. And I have some other investors too that are just renting it, you know you know, for the year and not some that are doing like this hybrid like they were talking as well, so a lot of possibilities with that type of property. Nice thing about a condo, you do have your HOA fees, which you can see, right? Your maintenance and your structural insurance, that's your HOA fees right here at at 79100 here. But the nice thing about your HOA fees is that does include your structural insurance and upkeep on the property, so you don't have to do anything with that.

Ryan Poole: 26:24

So that's one nice thing. Now the next one that we wanna look at, this is one actually that's on the market right now. This is a very good area. It's just north of West Palm in the area called Northwood. Okay?

Ryan Poole: 26:36

And this is a lot of these homes were built back in the basically from the 19 twenties up to about the 19 fifties or so. Right? But it's very close to downtown. We're talking a 5 minute drive. A lot of people bike downtown.

Ryan Poole: 26:47

You're right across your bridge from Palm Beach Island. Okay? So people that don't know now downtown West Palm is on the mainland. Then you cross the bridge, and now you're on what's called Palm Beach Island. Now Palm Beach Island, this is a whole different world on there.

Ryan Poole: 27:02

That's where the super mega wealthy own real estate. So that's where Donald Trump, right, owns Mar a Lago, He's on Palm Beach Island. He also have a lot of hedge fund managers. The the Kennedy is all the Kennedy state is there. The average home, which is literally right across the bridge from this home, is $7,000,000 So you're pretty much surrounding yourself by some of those valuable real estates, you know, in in the United States, right across the bridge.

Ryan Poole: 27:26

But here's a perfect one. The purchase price on is 395,000. We've been factored about a 85% occupancy rate on this one at a average about the same. It's a 3 bedroom, so average about a 190 a night. Right?

Ryan Poole: 27:38

It's a little bit further from downtown, but you have an extra bedroom. Here's how that's financial breakdown works. Now I'd model this out with this client at 20% down. Obviously, you could do 30% down, but the returns would be about the same. You don't have, obviously, your maintenance fees, but you do have to buy structural insurance.

Ryan Poole: 27:55

Right? Because you still have to have that flood and and wind insurance that you have to purchase that. You have your taxes at 416 a month, and then you I put in here 15% management fee, Scott, on this one because you could do, you know, the weekly rentals or even nightly rentals. So the management fee is gonna be a little bit higher on that one, but you're still looking at a cash on cash return of 11.67%. And then you look at over here your your equity growth per year that you're seeing at just a 5 percent of how that comp can compound over the next 10 years.

Ryan Poole: 28:27

So pretty exciting stuff. No. That's awesome. Yep. Yep.

Ryan Poole: 28:32

People always end up wanna ask, like, how do we how do you get a hold of me? This is one of the best ways that I have, and I have a lot of Canadians that are using RealTrade is you can sign up for RealTrade. Now it's free if you're, you know, just wanna browse this. Actually, it's free for any buyers and seller realtrade. Io.

Ryan Poole: 28:47

Create a profile. I suggest following me. I'm one of the agents on the platform. You can follow me. You can get all my updates on real estate right there on the platform.

Ryan Poole: 28:56

You have the social feed. You can then browse for properties for sale and use it and ask questions. You can chat with me right through the app. Literally built built that. You can share.

Ryan Poole: 29:05

We can share listings. We can discuss them all through RealTrades. Like I said, it's free. Check it out. You know?

Ryan Poole: 29:12

Definitely check it out for Property Trails. You can also email me. Here's my email. If you wanna take a screenshot of that and my phone number, you can message me on WhatsApp too as well if that's easier for you. Right there.

Ryan Poole: 29:22

And then, of course, wanna have a contact for a great lender that works with Canadian investors that I work with, he is obviously a pictures of Scott in Glen City, which obviously thank you so much, Scott, for helping my clients that, you know, my my Canadian investors and my other foreign investors as well. We've got a a great relationship going.

Scott Dillingham: 29:42

Yeah. No. You're welcome. And I'm excited. I think the time is really good for Canadians.

Scott Dillingham: 29:46

You kind of touched on a couple of our pain points. Right? We don't have the rent control. The rates went up so high. A bulk of Canadian investors mortgages are coming up for renewal in the next year or 2.

Scott Dillingham: 29:57

Right? So they're going to be purchasing and entering these renewals that are going to cause negative cash flow. And, you know, there's not much they can do about it. And then if we have a troubled tenant, it can take 8 to 9 months in the tribunal. Where in the states, I know it can be, like, a couple weeks to maybe 2 months maximum and

Ryan Poole: 30:13

the tenants go around. Months. Yeah. 2 months maximum, Scott, that I've seen for to evict tenants. You know?

Ryan Poole: 30:20

One good thing that we have, we you know, for a lot of my clients that have a lot of rental properties, we haven't had too many evictions because the rental market's so tight. People get into a place. They don't wanna go through the whole headaches and hassles of trying to find another place for rent. Right? Because it's the market's tough.

Ryan Poole: 30:34

So actually, we have a lot of my clients have tenants that are staying, you know, on the annual rentals, obviously, 2, 3 years that they have these great tenants. Another thing too is, you know, you can readjust your rent every single year. So after that lease is up after that year, everything's renegotiated at that point, sign a new lease, and whatever the rates are at that time. Yeah.

Scott Dillingham: 30:54

Yeah. Which is super cool. And another thing that I think is awesome on our webinar with Jim that he touched on and it opens up the door for us. So a lot of Canadians do buy in the states, but in specifically Florida, I think Florida is one of the hottest states that Canadians buy in, but it was really hard for them to buy a good property. And the reason is from the foreign buyer standpoint, the number one foreign buyers in Florida was actually China or people from China.

Scott Dillingham: 31:24

Right? Yeah. But DeSantis recently blocked the Chinese from being able to purchase there. So it really opens up the door for Canadians to find that key property that they're looking for. So I'm excited for that.

Ryan Poole: 31:37

Yeah. Yeah. No. They he changed that. I mean, it could be a little look at a little bit of a political play that he had.

Ryan Poole: 31:41

But yeah. No. Yeah. They you know, they make it, You know, very difficult obviously now for Chinese investors, but it's great for Canadian investors, other European. Actually, the only countries that are really affected are China, Iran, and I think Cuba or Venezuela, you know, are the ones that are really affected on it.

Scott Dillingham: 31:58

Nice. But no. I it's it's awesome. And you guys, I would recommend to check out Realtree. It's kind of like realtor.

Scott Dillingham: 32:04

Ca here, but it's much more fluid. It looks so much better. It's faster. Where I find realtor. Ca can be sluggish sometimes, really sluggish.

Scott Dillingham: 32:14

So it's really sleek. And then you can chat. You can chat with whoever's listing or what I like to and I think it's super important for the Canadian buyers is like Ryan saying, you can build your network. Kind of like a social media thing for real estate. So say, you know, you do want to buy and you want a property manager or you want an insurance person.

Scott Dillingham: 32:35

Right? You can literally find who services those areas and you can touch base with them. So you're not having to build from scratch. Right? And look these people up.

Scott Dillingham: 32:44

It's all it's all there in one resource.

Ryan Poole: 32:47

I would say follow you, Scott. Follow me. We got some great attorneys too that can help through the whole purchase. Great title companies that handle the closings here that you can get get connected with and best thing is the free service doesn't cost you anything. And, yeah, as far as our data too, it's it we're talking most up to date data than we have on there are on other forms, Scott.

Ryan Poole: 33:06

So we're not selling leads like these other platforms, you know, back to agents or other service providers. So we're giving literally the the buyers that are looking for properties the most up to date, most accurate information that they can't get literally anywhere else. So that's really exciting stuff.

Scott Dillingham: 33:23

No, that's awesome. So I'd like to open it up before we, we end this to see if anybody has any questions, me for the financing or Ryan, as far as buying, you know, real estate or anything Florida related. So we'll see. Does anybody have any questions?

Guest One: 33:38

So, Duswani, a quick question. In terms of property managers, And the rates, what are we sort of

Ryan Poole: 33:50

dealing with there?

Guest One: 33:51

And their rates. What are we sort of dealing with there?

Ryan Poole: 33:54

Yeah. So the property manager, they're gonna their rates are gonna depend on what kind of services do they have. You know, if it's, you know, if you're doing an annual lease, you don't have a property. You know, you don't have to have, for instance, a property manager, you know, because obviously they're gonna be leased. You're not someone that can go in and check on the property, which I'm a real estate agent.

Ryan Poole: 34:11

I'd be happy to do. But if you're doing a shorter term, it's gonna range anywhere from, like, 10 to 18%, you know, as far as the rates for the, you know, for the property managers. Now if you'd be paying, like, the 18%, we're talking full on property management for your short term rental property. So they handle the Airbnb, you know, profiles, the bookings, the cleanings, you know, the screenings, all those kind of things. They're gonna handle that for you.

Ryan Poole: 34:34

You know? So it's basically pretty much hands off, you know, at that point. Now if you're doing, like, the monthly rentals, remember, they're gonna the rates are gonna be lower because they're not gonna be running it, you know, 20 or 30 times a year. They're gonna be just running it maybe 8 to, you know, 12 times a year if you have a 100% occupancy. Right?

Ryan Poole: 34:51

So they their rates are a little bit are lower at, like, 10%. Awesome. Great question, Lee.

Guest One: 34:58

Yeah. And the other question is also, do you have, I guess, on their list of, I guess, trades or, contractors on the site as well?

Ryan Poole: 35:08

Yeah. No. We have contractors that are on there. So you can search out, like, you know, attorneys, inspectors, appraisers, you know, all those types of people that you need to use for your real estate journey can be found on it. Great lenders.

Ryan Poole: 35:19

Great lenders. You can find Scott on there as well. So, yeah, you can find them, obviously, agents. I'm on there. I'm all over there, so you're definitely gonna see my face as the founder.

Ryan Poole: 35:28

Hey. I'm on there as an agent. So yeah. No. It's a great resource.

Ryan Poole: 35:32

Feel free to use it.

Scott Dillingham: 35:34

Yeah. Just to further add to that, Wayne, I know. So I'm in Windsor. Right? For anybody here that doesn't know that I'm in Windsor across board.

Scott Dillingham: 35:40

Right? Detroit is rate, literally, a bridge away. So we have a few people here that no taxes on both the Canadian and the US side, and they can also set up corporations for you in the States as well. So if you do want to purchase, it is advisable through a corporation or limited partnership. You can close in the personal name, but then you will be subject to double taxation between the two countries plus the estate tax.

Scott Dillingham: 36:08

So in the states, when you pass away, there's an estate tax and everything goes, you know, to the estate. But if you have it in a corp or limited partnership, you can kind of defer that. And, you know, potentially, there might be ways around that. Again, I'm not a tax professional, but I can introduce you to those people to help you guys get set up so then you can move forward and make this happen.

Ryan Poole: 36:30

Now that's important. Right? No one wants to pay double taxation. No. A lot of the buyers, foreign buyer I have, they buy in, you know, in in vehicles.

Ryan Poole: 36:38

Right? LLCs, different entities, courts, all that kind of good stuff. We had to find out which was the best fit for you on that.

Scott Dillingham: 36:45

Yeah. And then you get that liability protection too in the personal or sorry, corp name.

Ryan Poole: 36:50

Yep. Which is Nice. Yep.

Scott Dillingham: 36:52

But, yeah, my corp, we set it up in, Wyoming for the business because Wyoming has no state tax as well. So that's super cool. But now I wish we set it up in Florida because that's where I wanna buy.

Ryan Poole: 37:03

And Yeah. No. A lot of them I mean, it's amazing. A lot of I you know, I one of my advisors on RealTrade, she's from Montreal, and she had domiciled here in Florida. She goes, Ryan, what's one of the best things that I ever did was domiciled my business here in in South Florida.

Ryan Poole: 37:17

Got the same income tax. She's very happy with that.

Scott Dillingham: 37:21

Yeah. That's awesome. Any other questions from anybody else on the call today?

Guest One: 37:27

So quick question. I I know we're focusing more on Florida properties and stuff. Does RealTrade also show properties in other areas in the states?

Ryan Poole: 37:36

Good question. Right now, we're South Florida focused. Some our our properties are in South Florida, but we do have some properties that are outside of South Florida on the marketplace. So you can go ahead and check them out. It just won't be all of them that are in that area.

Ryan Poole: 37:48

You know, just do some research on some different marketplaces in that particular area that you're researching.

Scott Dillingham: 37:54

But I think, Wayne, just to help you all, like, when we started getting into the lending, there was some astounding number, like, 70% of foreign buyers, like, Canadians, buy in Florida. Right? So I think that's why I wanna have Ryan on because I think he covers the the bulk of of of the purchasers who who would buy. But if they're not on RealTrade, they also have Zillow in the States, which is, I think, in my opinion, better than realtor.ca. I don't know.

Scott Dillingham: 38:25

What do you think, Ryan? Are you allowed to say?

Ryan Poole: 38:27

Yeah. No. I mean, obviously, real we it was a competitor of ours, but, yeah, they're good. I mean, I'm saying if you're looking at other states, especially, you know, the Midwest or maybe Texas or some of those other states, yeah, Zillow would be a a good a good platform to use for properties. We have listen.

Ryan Poole: 38:43

We have aspirations. We only launched 2 years ago. We have aspirations here of being, you know, across United States, maybe eventually into Canada and be, you know, be the trusted global database and community to real estate, which would be awesome. It takes some time. You know, it takes some time to get there.

Scott Dillingham: 38:57

For sure. But, yeah, absolutely. If you're looking for Florida, it's way better. Real trade is way better than the other ones.

Ryan Poole: 39:03

Yeah. We spent a lot of time. I wanted to make the UX and UI really nice, really easy to use, real really intuitive. I mean, you can filter out from sizes, you know, of the units, the types of units where there's condo, townhome. You know, the price point, obviously, you can shelter out so you can really really see the types of properties.

Ryan Poole: 39:20

And then, of course, you can save the properties that you like. Right? Then they're saved there under your profile, so you can always go back and view them and check them out, which is really nice option, which is a really cool thing that you can do on the platform. Yep. Yeah.

Ryan Poole: 39:33

I just tell people to check it out every once in a while and get on there and see what's new. You can filter out how many days on the market. So you could say, I just wanna just check out the new ones that are on here for the last couple days, you know, or the last week. Right? You go on once a week and just filter out, hey, the last 7 days and and check them out and see what's new.

Scott Dillingham: 39:50

Awesome. Any other questions, guys?

Guest One: 39:52

So quick question about RealTrade. It's so it's free for just browsing and stuff like that. When do you have to actually start paying for its use?

Ryan Poole: 40:01

Yeah. So the nice thing for the members, which would be a member of buyer sellers tree. The only ones that are paid would be the agents and then the service provider. So they have a a subscription model that they have that they paid for. So, yeah, for the members, which you'd be a member like a buyer, seller, or treat.

Ryan Poole: 40:15

The only time it would cost if you wanna advertise your your, you know, your business would be a way that it would cost you money. Can you hear me, Scott?

Scott Dillingham: 40:23

Yep. I can hear you.

Ryan Poole: 40:25

Okay. Cool. Hope that one ends. And does that answer that, Wayne?

Guest One: 40:28

Yep. It does. Thanks.

Ryan Poole: 40:30

Alright. No problem. Perfect.

Scott Dillingham: 40:32

Wayne, you've been awesome with the questions. Is there anybody else with questions?

Guest One: 40:37

I did wanna ask if there's any preconstruction opportunities on that site.

Ryan Poole: 40:42

Yeah. We actually have a lot of new construction projects that are on RealTrade. 1 of the you know, we have the Alba project, which is this big sponsor on the platform. There are new construction condos. Yep.

Ryan Poole: 40:53

Yeah. Basically, anything that's put into which, you know, that we have here in the states is called the MLS, which is the multiple listing service. We automatically get all of them, and then people can add things too on the social feed if there's new stuff too. So you're gonna be seeing things, you know, from all over the place that are on there, but the big majority of the listings are gonna be from the MLS. And all the new construction projects, they list their projects on the MLS.

Ryan Poole: 41:16

So you'll see them on you'll see them on real trade. Yep. Which Which I love new construction. I actually, that's how I started my whole real estate, you know, career with selling new construction condos. Have a great experience in that.

Ryan Poole: 41:28

So, yeah, you'd feel free to reach out to me, and I'll I could point you in the right direction too with some other, you know, some new construction projects too that are out there.

Guest One: 41:37

Thank you. You too.

Ryan Poole: 41:38

Thanks, Adele. Awesome.

Scott Dillingham: 41:41

I think we have a couple more minutes if there's any other questions. And if not, we'll we'll hand out.

Ryan Poole: 41:48

Yeah. I just wanna add one thing. You know, Scott is that, you know, I talked about this. It's just, you know and you can kinda hear my passion for my voice. It's like, just take that first step even if it's a small property to start and you start coming down here and spending more time and get more of experience here in the South Florida.

Ryan Poole: 42:05

You know, that return on life, it just can't be underestimate, you know, estimated shot. Like, it really is such a great experience. It's one of the best things I ever did. And all my friends, you know, that started out here, maybe buying a second home. Gotta be careful.

Ryan Poole: 42:18

You might end up living in South Florida. Sure. Lot of lot of friends over the years. That's how it started, and they enjoyed it down here so much that they ended up living here.

Scott Dillingham: 42:27

Yeah. And just to let you guys know too, like, if you, say you wanna get started in into this, but you're overwhelmed and you don't know what steps to do and you just don't have, you know, the confidence or whatever to move forward with this yourself. We actually have partners, and we we'll share the details later. I don't wanna share them on here. But we have partners that have a done for you service in Florida.

Scott Dillingham: 42:53

Right? Ryan's spoken to them. I've known them. Right. So so we have that.

Scott Dillingham: 42:58

And then even myself, I'm getting together some partners and we're going to be buying a ton of properties, right? We're building the team for the management and all that stuff. Right. We just want the money for the down payments, right? And we're going to get the financing and all that.

Scott Dillingham: 43:12

So there's avenues for you to get started without, you know, jumping all in and and feeling like you're alone. Right? There there's people that can help you to do this. So I want you to to know that. But if you guys do want, my contacts for the done for you service or whatever, just message me within the hub.

Scott Dillingham: 43:34

On there, you can find me. Right? I obviously, I run it. But send me a DM in there, and then I will, respond and share with you all the contacts that you need that we have access to.

Ryan Poole: 43:45

That's awesome, Scott. Yeah. I'd say just any way that you get, you know, get invested in in in Florida real estate. It's just gonna change so many things, and I have had so many clients over the year. They're like, Ryan, it was really scary taking that first step.

Ryan Poole: 43:58

But now that they have I have clients that now have 5, 6, 7 properties that started with just 1.

Scott Dillingham: 44:04

Yeah. And it's nothing crazy. And, I mean, we're all investors here, but it's new. Right? Just like some people, they might buy duplexes, and they're scared to buy a 4plex because it's something new.

Scott Dillingham: 44:15

Right? This is the same thing. It's something new. And, you know, there's hurdles, but they're not difficult to get past. So just inspire everybody.

Ryan Poole: 44:25

Awesome. Thanks for having me on, Scott, and thank you all for listening. It's been nice chatting with you all, and I've enjoyed the presentation. And, hey, if you're ever here in South Florida, West Palm Beach, love to take you out. I've had a lot of Canadian clients.

Ryan Poole: 44:37

We take the whole day and tour the whole areas, and I show them all the landmarks and all the great restaurants. Love to do that for you too.

Scott Dillingham: 44:44

Awesome. I'm gonna hold you to it because I'm gonna be up there soon.

Ryan Poole: 44:48

Get on the boat, Scott. We'll do some fishing.

Scott Dillingham: 44:50

Alright. Sounds good. Thanks everybody for joining. Thank you, Ryan, as well. Wealth of knowledge, and I love the fact that you've completely designed the best tool I've seen to find property.

Scott Dillingham: 45:02

So I just was super excited to get you on to to talk about it.

Ryan Poole: 45:05

Thanks for having me on, Scott. Appreciate it.

Guest One: 45:07

No problem.

Scott Dillingham: 45:08

Thank you. Take care.