Property Investing By Goal Setting with Gillian Irving & Evan Unger
Welcome to the Wisdom Lifestyle Money Show, everyone. My name is Gillian Irving. And for those of you who don't know me already and haven't met me here, I'm a mortgage agent with Lendcity. I'm a longtime real estate investor myself with a portfolio in Ontario, New Brunswick. I'm also looking to expand into the United States, which is super exciting now that Lendcity can get mortgages there.
Gillian Irving:So I work with investors both on the financing side and the coaching side. And in my personal time, I'm an avid runner and a marathoner, and I'm really excited to have a conversation with Evan Unger of Tuck Capital today because reading your bio, Evan, I'm just gonna just touch on a couple of things that I saw. So you're a real estate entrepreneur. You're the author of Make the Decision, which is an Amazon best selling book on goal setting. You're a partner in 4 privately held companies, and you have 2 Guinness World Record records?
Evan Unger:Yep.
Gillian Irving:Okay. I don't even really know where to start with all of this. I think let's start with your Guinness world records. What are your Guinness world records then?
Evan Unger:Avi, thank you so much for having me. I really appreciate it. I'm excited to chat with you today and learn from you and hopefully, you know, create some value for for your listeners. That'd be great. To answer your question, I have 2 Guinness World Records for the highest standing jumps in the world.
Evan Unger:So if you know what a box jump is in the gym.
Gillian Irving:Yes. I've embarrassed myself many a time on box jumps.
Evan Unger:There you go. As we all have. But I have a Guinness world record for the highest standing box jump, and then I have my second record is for the highest box jump off of one leg.
Gillian Irving:Wow. That's pretty incredible. Yeah. I think mine I probably am the opposite of that. I feel like that is probably my weakest possible thing.
Gillian Irving:I I do have other areas that I do okay in, but box jumping is actually not one of them. So is that something you had to obviously, you trained for that for an awfully long time.
Evan Unger:I mean, I think, you know, the story goes that there was this coworker of mine who I used to work at a gym a while back, and I had this coworker who always challenged me. You know? Oh, who can bench more? Who can squat more? And then one day up with who can, you know, jump higher.
Evan Unger:And we ended up just going back and back. And, eventually, by the time we were finished, the gym was, like, clapping and people were, like, watching us. And so we googled it, and I was a foot away from the record. So I was like, I'm gonna train for this and beat it. And so I trained for just under a year, and a year later, I beat that record.
Gillian Irving:That's incredible. And so was this before you wrote your book on goal setting, or was your goal setting book before that, or did they inspire one another?
Evan Unger:I think the jumps definitely inspired part of the book. And so I was, you know, I was achieving some really big goals in my mind, and and people were asking me like, okay. What did you do for this? How did you stay on track? What is that?
Evan Unger:I bought my first house when I was in my early twenties, you know, in in Oakville, Ontario. I've just been hitting some goals from when I was younger and people kept asking me, you know, what are you doing to hit these things? I said, you know, I'm gonna write it out and and there we go.
Gillian Irving:And so has that do you feel like goal setting has been the foundation to your success? Is that what is rooted at the bottom of everything?
Evan Unger:I think goal setting plays a massive role in anything we do. All of your actionable tasks, all of your planning has to be systematized out of something. So if you don't have goal and a specific target that you're aiming for, how are you gonna create any type of next steps and next action? So I do believe the goal planning's had a massive impact. Yeah.
Gillian Irving:Just to keep it sort of related to to I mean, I'm sure your goal setting can benefit people no matter what industry or what their focus is. But if we keep it sort of centered on on on real estate, are there different goal setting techniques for those who are interested in real estate, would you say? Do they vary depending on what you're it's really all fundamentally the same thing.
Evan Unger:I believe that goal setting is fundamentally the same no matter where what you're in. And I think that's what makes it so powerful is you can sit back in your life and and pick any part of your life, personal, professional, from hobbies to health and fitness. You can pick anything. And you can create a goal the same way, and you can break that goal down and backwards the same way. That's it translates well across different parts of your life.
Gillian Irving:And do you feel like you have sort of areas of your life that you so what are the areas? So there's personal, you mentioned. So there's personal, financial. What else? Physical for you.
Gillian Irving:What are the areas that you tend to chunk it into for people or say you need to be thinking about all of these?
Evan Unger:Yeah. I think it's important to think about all of them. You know, it's not a bad thing to have priorities in one aspect of your life for your goals, but you do wanna make sure that you're you are focusing across the spectrum. So I would say you have your health. You have your money, you have your, you know, your hobbies and your fun, and you have your, you know, your relationships.
Evan Unger:And so those be, like, some key areas I would focus on for sure. Mhmm. You know,
Gillian Irving:I hear a lot of people talking about how health kinda has to be number 1, really. At the but, really, you can't have any of the other things unless you have your health. Is that something that you believe too that everything else has? You have to kind of they have to, you know, jimmy for priority, but at the base of everything, it has to be your health. Otherwise, you can't really accomplish much
Evan Unger:if you're not And, you know, you see a lot of young people these days who don't prioritize that. And I always tell them, you know, try achieving any of these goals in bad health, and you will quickly learn that your health becomes number 1. So and that's pencil and physical health. You gotta be, you know, setting goals and practicing, for both.
Gillian Irving:Yeah. I certainly, so I started running in earnest during the pandemic. You know? Like, what else were you gonna do, really? But I really took it seriously.
Gillian Irving:So, what, that's almost 4 years now, and I feel like everything is different fundamentally. I mean, with such a rock solid fitness as a priority, I feel just so much better about everything. Like, you kinda have the clarity you need for all the decisions that you make.
Evan Unger:Absolutely. I completely agree with you. Yeah. Mhmm. Sure.
Evan Unger:You're just gonna get a so your body is gonna get stronger. Your discipline becomes better. Your, you know, got the good chemical reactions happening in the body. Everything works better for you when you're in well
Gillian Irving:Mhmm. Now tell me a little bit about Talk Capital because I suspect the people who are gonna tune in to us today are gonna wanna know about sort of the real estate aspects of your life and how it is that you can either help investors either get started or tell me why don't you just tell me a little bit about Tuck Capital and what you do?
Evan Unger:Yeah. So Tuck Capital is kind of like our overarching consulting and and and brand that we have under like, over our umbrella. That is our umbrella. And then we have Tuck Developments. We have Choice Renovations Canada, and we have Liso.
Evan Unger:And these are all vertically integrated, basically to support our real estate system that we have. Capital was born out of, myself and my business partner Jordan consulting on different business ventures and deals. And, you know, we ended up consulting and and actually lending our own funds to someone who was building out a real estate portfolio. And it came to our attention, like, how are they borrowing at this rate and still being profitable? And so he said, instead of lending on these things, you know, we should jump in.
Evan Unger:A long time ago, we jumped in and learned the ropes and we haven't looked back since. We've really been in love with the real estate industry since.
Gillian Irving:So you provide loans to investors who are looking to grow. Is that what you do?
Evan Unger:Well, no. Not anymore. We can help, like, consult to help introduce them or help even goal plan with them for what they will need for that. Mhmm. But mainly, we're doing our own developments and and our own growth now and supporting our own system.
Gillian Irving:And where are you focusing your your attentions into like, what market are you focusing on in terms of the development?
Evan Unger:It's mixed. We're across you know, I think we're in, like, 8 different cities in Ontario. We have some good reach there. Southern Ontario, like, favorite spots are gonna be Hamilton, St. Catharines, Port Colborne, Welland.
Evan Unger:You know, Niagara and Hamilton region are more of my favorite southern. And then up in the north, you know, Sault Ste. Marie would probably be, like, my one pick up there.
Gillian Irving:And do you find it differ I mean, I've just been hearing so many people these days. Investors seems so tired of Ontario, like, with its the difficult landlord tenant board prices. There's so many things about Ontario. There's just so much investor ennui with this area. Right?
Gillian Irving:We're like, oh god. It's hard to do business here. What I mean, do you have advice for investors who are trying to make it in this market who who, you know, you appreciate investing out of province or far away. There's difficulties that come with that. You know, what would you say to an investor who is trying to decide whether to make it work here or go to a different province or out of the country to invest?
Evan Unger:You know, I feel the say I share the same sentiment of it is really hard to do it in Ontario. The landlord tenant laws are not even, like, in the tenant's favor. They're not in the landlord's lap at all. There really is no it's just so disadvantageous to be a landlord in in Ontario. But Mhmm.
Evan Unger:With that, you know, like, you're getting crazy appreciation compared to most other places. You know, you're getting some different demographic depending on where you are in Ontario. And we're a thriving economy compared to the majority of the other provinces if you look at the stats. Right? And I would say, no.
Evan Unger:Do your research and know what you're getting yourself into, and you should be fine. That's really the big thing. I see so many people who jump in. You know, they call me, Evan. I got this tenant.
Evan Unger:You know, they're they're not paying. What do I do? All this stuff. How many properties do you have? I have one.
Evan Unger:I didn't I don't I came over. I I kicked in the door. I did this. I was like, oh my goodness. Like, you know, a lot of that stuff comes as surprise, and that's where the majority of the pain comes from is just not doing and being surprised.
Evan Unger:So I say get educated and build your team out. Building your team will be one of the most important things you do. You know, getting that amazing paralegal on your side, getting the accountants, the realtors if you need them, the the contractors, especially. So these are the people in your team that you have to assemble, and they gotta be, like, your a team. They gotta you gotta be willing to go to war with these people.
Evan Unger:And if you are Mhmm. They all these things for you. Right? If you're trying to juggle everything on your own in a province like Ontario, it gets very hard very quickly.
Gillian Irving:I've always I I am a a heavy a lot of my portfolio is focused on student rentals. I don't have to worry. They're their own headaches. There's some headaches that come with students. But one of the headaches I don't have is nonpayment of rent and people staying forever and being out of market rents after a few years.
Gillian Irving:You know, it's funny. People look at that strategy and you go, Gillian, you're nuts for doing that, but I don't know. I've had an amazing appreciating portfolio, and the kids just leave after 2 years, and they just move out and move on. And then I just feel it again. So I guess, you know, also knowing the strategy, knowing the pitfalls of one strategy versus another is always kinda key.
Gillian Irving:That's right. Assuming you know.
Evan Unger:Right? Yeah. You'll I mean, you'll follow the we we have a mix of student rentals as well. We have a few of them, in Hamilton, some near Mohawk, and some near McMaster, schools. We enjoy that same opportunity.
Evan Unger:And like you said, every advantage also comes with its own its own problems to solve, you know, the turnover, sometimes the damage. You know, you're dealing with a lot more points of communication in a house versus one person from a family. You know, there's different things that come with it, but there are major advantages to it as well. And and we actually had ours as Airbnbs during the pandemic, and they did really well. Wow.
Evan Unger:They they weren't supposed to be student rentals. They were like really high end done homes, and we did them as Airbnbs. And then the pandemic ended, and I feel like the travel and destination places for Airbnbs were really good, but the, like, inner city Airbnbs just kinda flopped off a bit. So, we pivoted really quickly. We started putting out marketing for what we call luxury student rentals, and they filled up in no time.
Gillian Irving:You know, I've always thought that was a fascinating niche, and especially in Hamilton too where I feel like you draw from families that are coming, like, from Toronto or Oakville, a lot of them, so that there are some, you know, family assistance behind these students. And so let me ask you. Are your rents just unbelievable now in these luxury student rentals? People are paying for it, I bet.
Evan Unger:A 100%. A 100%. It's you know, the accommodations that we provide are much nicer. You know, the kitchens are really well equipped. The everything's furnished as if it's a high end Airbnb.
Evan Unger:So you're getting, you know, all your bedding and mattresses and bed frames. You're getting, like, decorate decorative stuff around the house. Like, it's nice. It's a really nice, like, upper and, you know, all the utensils and plates and everything. They're matching sets.
Evan Unger:Like, you know, it's this small stuff like that. It's Big difference. Right?
Gillian Irving:I I laugh. It's what kind of next generation of young adults they're gonna come out of there with very high expectations about the kind of, like I I sat on milk crates. Like, I had to I found my furniture from the people who moved out on the street. You know, you're like, oh, it's Thursday. It's big furniture, garbage day.
Gillian Irving:We'll go and see if we can find a new kitchen table.
Evan Unger:Yeah. No. They're sitting on, like, nice dining tables and chairs with, like, glass tops and, like, you know, canvases around the house, fake plants. Like, you name it, it's there. Yeah.
Evan Unger:We're doing really well with the rents.
Gillian Irving:You know? What do you think? Is that double what a typical student rental would be in terms of rent, do you suppose?
Evan Unger:I'd say we're probably close to that. I don't know about full double, but our stuff near Mohawk for a single occupancy room will be almost $1,000 for the room. And then and then we do entertain double occupancy for our larger rooms, and those will be 12 50 for double occupancy. So Mhmm. It's good.
Gillian Irving:Yeah. That's really incredible. And I you know, again, I think, you know, knowing who you're gonna attract with a place like that, chances are you're probably gonna attract people who want nicer, who are probably gonna behave a little bit better, and knowing too that if they're committing to a place that has to tie rent, if there's damage, that they have a financial ability to fix it. So there's a lot to be said about, you know, willing to put the money in. You know, it's not all about not spending money as a landlord.
Gillian Irving:Sometimes you spend the money, and it comes back to you a lot faster when you do that.
Evan Unger:That's exactly right. That's and then that's how we really feel. So we try and take care of these tenants and these students, and and we feel they're doing the same for us. So it works out really well.
Gillian Irving:Mhmm. That's fantastic. But what I hear in the story is that you're always looking for opportunity in the places you have, that you're never just letting things run ever. That's not a thing, that you're constantly looking at every investment and trying to optimize it. Can you tell me a little bit about that process and other changes that you might have made to your portfolio that would, you know, be an example for how you know?
Gillian Irving:So you move from a regular student rental to a luxury student rental. Are there other examples if that would give people ideas of what they might be able to do in their portfolio just to kinda give that little tweak?
Evan Unger:Yeah. Absolutely. So, I mean, that those properties, we pivoted multiple times on those properties alone. They were actually meant to be one of them was meant to be a flip. We were gonna flip it, and then we saw that, you know, the the the margin on the flip we had anticipated didn't end up being as as much as we wanted to.
Evan Unger:We said, you know what? I think this will cash flow well It's in a perfect location for an Airbnb. So that's when we turned pivoted to Airbnb. And then from there, we pivoted to luxury student rental. But I would say the advice I have is really making sure you know the operation of your properties no matter what scale you're at.
Evan Unger:If you have 1 or if you have a 100 or 200, you know, our bookkeeper provides us with, you know, NOI statements frequently so we can evaluate the health of each property. And and we're looking at that. A physical, going to the doctor and getting a physical also. You know, come in, check your health. We checked out the property.
Evan Unger:What are the utility bills? Why is this doubled now? You know? Oh, we're we're doing well here. Is there room to intensify this?
Evan Unger:How can we add, you know, how can we double the rent, the the the gross on this? Can we add laundry? Can we get paid parking? So these are things we look at often. We've taken many single family homes that we've had and converted them into multiunit dwellings to increase the NOI.
Evan Unger:So there's definitely many ways you can go about it for sure.
Gillian Irving:You know, but I think you're right about having a regular check-in. Right? I mean, you need to know you can't make changes if you don't know what's happening just like you can for your own health. Right? You're like, Houston, we've got a problem.
Gillian Irving:I mean, we had huge problems with utilities with students, right, especially if they weren't paying for the bills. They just were like, hey. I had I had one group of tenants once for properties in Saint Catharines, and we had one of those indoor garages, but it had no heating in it. But they had a 5 day beer pong tournament in there with and they used space heaters to heat it. Oh, wow.
Gillian Irving:I got this insane heating bill, you know, but so you get burned once, and then you learn your lesson, and you never do it again. So I had heating caps on any bills that, you know, utilities caps on any leases that weren't that didn't have the utilities included. But you wouldn't know that necessarily if you weren't taking a I mean, obviously, I'd noticed the, what, whatever, gazillion dollar bill I got on that one, but slight increases. I think it's really important. No one really cares about your property the way you do.
Gillian Irving:So I think having an accounting team that's giving you stuff regularly, I think, is probably one of the best bets there is out there.
Evan Unger:I agree. Yep.
Gillian Irving:Mhmm. And in terms of the team that you have around you, the the folks at Capital, do you all have different areas of expertise? What is the makeup of your team, and who occupies sort of what territory?
Evan Unger:Yeah. Great question. I mean, we we kinda built businesses around the the team members that we would need. So instead of incorporating everybody into one business, we helped other people start businesses and get into business. We partner with people who are way better than us and then create a business with them.
Evan Unger:And that's kind of how we did it. You know, the renovations company, you know, my business partner, Jordan, had a great friend. His name is Josh. And, you know, he was an amazing contractor and did gorgeous work. And so we partnered with him and created our construction company.
Evan Unger:And, you know, we did the same thing for our property management and did the same thing for our development. So Jordan and I partnered up for that as well. I think we we all have different roles. Some of our businesses are external facing. So, like, the construction company is, external facing, but the rest of them are internal.
Evan Unger:So it's it's been fun.
Gillian Irving:Right. But it again, it sounds like there's just so much like, there's a lot of self awareness too. It's know thyself. You're like, I'm not so great at renovations, but, boy, I know exactly the right person. Right?
Evan Unger:Yes. Yeah.
Gillian Irving:And so I guess that's the importance of creating your team is you're not trying to reinvent anything ever, really. You're trying to just find the right person to do the work that you need Yeah. That you know needs to be done.
Evan Unger:It's really who, not how. Know, it's it really is who can do this better than me and take this off my plate. And so I I just surround myself with people who do it way, way better than me.
Gillian Irving:Mhmm. And is one of your goals trying to manage your time? Is that a goal? I mean, I feel like that's one of the things I need to wrestle more is how do I control my day more.
Evan Unger:Yeah. Right. And the
Gillian Irving:who not how would help with that. Right? Who am I gonna give this job to?
Evan Unger:Yes. I agree completely with that. I think, I can absolutely improve on that part of my life as well. I feel like I'm I'm working quite often, but, you know, definitely delegation is key and and making sure you're setting yourself up for some personal boundaries will help as well. So that way you have to work within them.
Evan Unger:And that that kind of forces your hand to delegate or be more efficient.
Gillian Irving:And are there sort of do you have products or services that you offer to investors who are like, hey. I need consulting. You guys sound like you know what you're doing. Is that something like of a new investor or, you know, a semi sophisticated investors. I just need to scale, and I don't know how to do that.
Gillian Irving:Can I come to Tuck Capital and say I need help with this?
Evan Unger:Yeah. Absolutely. So you can come and we can consult in whatever area that you're looking for in the real estate, you know, process. We help people with turnkey renovations, planning. We help them with turnkey acquisitions.
Evan Unger:You know, like, we we help people optimize their income on their properties. We've mentored a lot of people to help them purchase their first primary or their first investment property or, you know, larger. We actually we help publicly traded companies do their acquisitions. We're working on with private investors and publicly traded companies from the ground up at every stage of the process. So it's been quite exciting.
Gillian Irving:That's really great. So it doesn't matter what your goals are, whether or not you just wanna get not dabble, but get just get started and start slowly. You can help with that versus all the way up to the big publicly traded companies who will buy up whatever That's correct. Neighborhood.
Evan Unger:Yeah. That's exactly right. That's exactly right.
Gillian Irving:Yeah. Oh, that's fantastic. And, you know, can we just I just wanna circle back a little bit to the to the goal setting. I mean, obviously, we want everyone to get your book, but are there a couple of tips, like, just a couple of tips that you could give our listeners on how to get started with goal setting or some suggestions that you have about because I feel like people make goals all the time, and they're not necessarily followed through. So how would you coach someone about creating meaningful goals that are likely to be followed through?
Evan Unger:That's an amazing question. It's the perfect question. So I hope I can give some amazing value here on it. I really believe that you have to have a very specific goal. Don't make it generalized.
Evan Unger:Oh, I wanna be rich. It's okay. You can't attract rich. You can attract $1,000,000 by, you know, February 16th. Like, that is a specific goal.
Evan Unger:You can even dig in more. I want to make $1,000,000 by February 16th by flipping homes or, you know, something super specific like that. That's that's how you start with your goal, And you really gotta come up with a why, a really deep rooted why. And that's your why is your reason you're doing this. So you gotta find something that's emotional to you.
Evan Unger:Getting out of bed for money, very few people will overcome the obstacles, hurdles, and speed bumps in the road to getting to achieving a goal just for, like, the goal itself. Like, the money isn't the goal itself. The car isn't the goal itself. You know, lifting this amount of weight isn't the goal itself. It's like there's a deeper reason for it, and you have to dig deeper for it.
Evan Unger:Right? Like, you know, maybe getting into better health will help you spend more time with your family for longer, be around for your grandkids. Something like that is a really deep rooted wire. Maybe you wanna earn more money to retire your parents or spend more time with your parents or your kids. There's so many deeper reasons as to why you're achieving these goals.
Evan Unger:And having something that you can anchor in deep rooted emotion, that's what's gonna get you out of bed in the morning. That's what's gonna keep you on track for your goals when, you know, all hell breaks loose. And then there's a lot of you know, when it's raining and out there. So you you really wanna have some deeper reason. And then the last thing I would say is you wanna keep that thing, that goal in front of you often and and keep reminders of it.
Evan Unger:You know, set a goal, wear a bracelet that, like, reminds you of this goal, or, you know, manifest and and and, you know, say a manifestation every day while you're touching this bracelet. And then every time you see the bracelet, you'll be reminded of it. You know, Bob Proctor used to to say, you know, bring a goal card with you and keep it in your front pocket. And every time you're put your hand in your pocket, you feel this goal card has your goal written on it. And it reminds you of your goal.
Evan Unger:It's just these small things that keep you on track to achieve your goal that really keep it in focus.
Gillian Irving:Mhmm. I heard Jim Carrey carried around a check for a $1,000,000 in his pocket when that amount of money was just absolutely unheard of
Evan Unger:Yes.
Gillian Irving:In Hollywood and that he would touch it, feel it, believe it every single day. And now it just seems, of course, he did. Right? Because, of course, he would be the person to have achieved that, but that is just a it seems like it's such a smart tool.
Evan Unger:Yeah. That's exactly how it works. I mean, you begin to think about it. You begin to attract it. You begin to consciously and subconsciously do the things that are needed to get there.
Evan Unger:You talk about it more. You act on it more. It's in front of your brain. Someone walks by. I mean, I'll give you a good example.
Evan Unger:This is the most ridiculous example. But we have a property that we're working on in Niagara region, and it needs, we're building it basically from the ground up. And we need to pour this foundation. Our foundation quotes came in for concrete. And I've been, like, meeting I was like, I I wanna get a better quote for concrete.
Evan Unger:I wanna get a better quote for concrete. And the other day, I was talking to my business partner, Jordan, about it. And at that moment, I walked by and there was just a guy in the gym walked by me with a shirt and it said
Gillian Irving:I pour concrete.
Evan Unger:Literally. And I just stopped him and I was like, hey, what do you do for a living? He's like, oh, yeah. Yeah. This business, I I do concrete work.
Evan Unger:I was like, anyway, can you give me a quote for this? And he came in 18% cheaper than what we were looking for. And so this is perfect.
Gillian Irving:But that's because you were you were thinking about it. It was on your mind. You knew it was a priority. It was
Evan Unger:Consideration with your goals. That's the problem is that I was on the phone and we're in the middle of building this out. So it's really easy for that to be a priority and be on my mind. But your goals that you're setting aren't, like, every day in front of you every 2 seconds. The whirlwind of the day becomes really reactionary.
Evan Unger:And so your goals tend to fade into the background. And so that's really why you wanna keep something front of mind because you're gonna see those opportunities. If I if that wasn't in the forefront of my mind, that guy probably just would have walked by me. I never would have seen that on his shirt. But now imagine your goal is is something specific that you've created, and it's in the forefront of your mind and you see a guy walk by.
Evan Unger:Let's say your goal is you wanna work for, you know, you know, you wanna work for Elon Musk and directly for Elon Musk. I don't know. Something crazy like that. Sure. You're gonna talk about it.
Evan Unger:You're gonna feel it. You're gonna and you're gonna remind yourself of it. And one day, someone's gonna say, oh, I worked for this company. You had this. But, oh my god.
Evan Unger:You have a connection here. Can I talk to you about that? And so it helps you get to that goal for sure.
Gillian Irving:But it does sound too that you're you have sort of long term permanent goals that are probably related to your health. Like, I'm gonna be fit. You know, I my one of my goals is to be healthy for my grandkids or whatever as a a hopefully long time away from that. I'm not I don't even wanna say that out loud. My kids are too young.
Gillian Irving:But so you've got goals for that, like long term health, But, you know, the foundation pouring for the house, like, that's an immediate goal. So are there so there's goals clearly for short term, midterm, long term. Is that what you do, or do you focus more on the bigger overarching goals and then you make short term goals? How do you prioritize the ranges of goals? Because, otherwise, you'd be making goals every day.
Gillian Irving:Like, you have daily goals, weekly goals, monthly goals.
Evan Unger:How do you structure it? So I would say the best way to do it is think of the biggest goal you have. Take any area that we spoke about, health, finance, relationship, everything, and pick the goal that means the most to you. Make it super specific, but make it huge. Make it so big that you're nervous talking to small minded people about Don't
Gillian Irving:they call them b hags, the big, hairy, audacious goals?
Evan Unger:There you go. I haven't heard that before, but that's fantastic.
Gillian Irving:Have been. Oh, yeah.
Evan Unger:That's fantastic. So that's the type of goal you wanna pick, something really big. And then you're just gonna, what we call, chunk down on that goal. So you have this big huge goal. Maybe it's I want to own 500 rental properties.
Evan Unger:That's great. Maybe you have none right now, but you want to have 500. And it's okay. You're not gonna focus on owning 500 for tomorrow. You're gonna plan this goal.
Evan Unger:You're gonna say, here's what I wanna have it done by. And then you're gonna break it down via time and effort and what needs to be done. So maybe it's, I wanna have 500 rental properties in the next 5 years. Okay. That's a 100 rental properties a year.
Evan Unger:Right? You're you're gonna be at roughly 8 properties, 8 and a half properties a month you need to be buying. And that becomes your goal. And then you break that down, and it's 2 properties a week. So, okay, we gotta be buying 2 properties a week in order to hit 500 properties by the end of 5 years.
Evan Unger:And that's really how you go from a really big goal, that's 5 years away to a goal that you can focus on today. Mhmm.
Gillian Irving:So that they're much more. Otherwise, I guess, you'd be paralyzed by the impossibility of it all.
Evan Unger:Of course. So you take it big, you chunk it down, and then you create action steps on it. So that's your goal of, okay, I want to acquire 2 properties a week. Then you take that and you say, how many how many properties do I need to analyze and underwrite a week? And then how many properties from the ones that I analyze every week do I have to make offers on in order to have a winning offer?
Evan Unger:And and that's and then you get to this point where you're like, great. I need to be I need to be analyzing you know, in order to pick up 2 properties a week, I need to be analyzing 30 properties a week, and I need to be offering on 17. I don't know whatever the numbers end up working out. And okay. Great.
Evan Unger:17 offers have to go out a week. Now what do I have to do? How many calls do I have to make to get 17 offers out? You just keep breaking it down until you have your routine, your daily routine in front of you. And then basically, from your overarching goal of 500 properties, you can have how many calls you need to make, how many underwritten properties, how many offers, and the people you need to have in place to do that.
Evan Unger:And there it is in front of you, your daily routine to hit 500 properties in 5 years.
Gillian Irving:Do you ever worry about you know, I hear, you know, I do hear a lot of real estate investors talking about how they want these huge portfolios. And in many respects, I think that's great. Like, I also have a big portfolio and always wanted a bigger portfolio, but sometimes I'm like, I wonder if you get to the top of that ladder and you're like, oh my gosh. The ladder's up against the wrong wall. That's not the right goal that you work really hard.
Gillian Irving:I mean, I suppose you have to really reflect about the why of it all because you could do the, you know, 65 calls, 17 offers, 2 houses a week for 5 years and have your 500 properties and go, oh my gosh. Has this brought me what I wanted? Right? So I suppose at some point, you need to make sure I guess that's the reason why you have to spend so much time really understanding the why of it all. Yeah.
Gillian Irving:Because I hear people put out these numbers. I want, you know, 200 doors, and I think, why? Like, what is your why for that? What is it you want from that? And some people, I think, want the I'm more I feel like my goals have changed from active management to more passive management.
Gillian Irving:I'd rather just not do all the property management stuff necessarily. Yeah. But, anyway, I just I think it's safe to say that your whys probably evolve over time, and you have to really spend a lot of time not only figuring out what the plan is to make them work, but also reevaluating them to make sure that they're still authentic goals and still make sense for all the things that you want in your life.
Evan Unger:Absolutely. That it's perfectly said the way you said it. I wouldn't add anything else to it. It's important for you to reflect often. You know, once a week, reflect on how your week went and do a brain dump.
Evan Unger:Once a month, do a larger reflection. Once a quarter, do an even bigger one. And then once a year, replan your annual goals. Like, your life is gonna change. When you're 18, your goals will be different from when you're 25, 35.
Evan Unger:So you're gonna have kids. You're gonna have grandkids. Like, your goals are gonna dramatically change. I mean, your life will dramatically change, and your goals need to change with them.
Gillian Irving:Mhmm. Evan, I feel like, I think we should leave it here. I'd like to have you back again because I wanna talk, about so many other things. Things. I feel like we've touched upon how real estate investors for people who want to get started, they have a sense of what Tech Capital does.
Gillian Irving:Can you tell our listeners how they can find you, where they can they follow you on social, and where can they reach you if they want your services to get started for consultations for their small, medium, large, huge portfolios, or any corporate private companies out public companies out there who wanna talk to you? How where can they find you?
Evan Unger:So you can follow any of us on Instagram, of course, at evanungar, or you can email me is the best way. It's evanevanat tuckcapital.com, and that's tukandthenthewordcapitalcapital.com.
Gillian Irving:Fantastic. I hope lots of people reach out to you. I'm sure you're gonna have so much helpful advice for them, and it has been such a pleasure talking to you. Thank you so much, Evan.
Evan Unger:Thank you for having me. I really appreciate it.
Gillian Irving:I really appreciate it. K.