All right. I’m just gonna call started. Hi Onkar. How’s it going?

Hey, Natu. I’m good. How are you? Good, good. Uh, today it looks like mostly Canadians because of the, uh, Memorial Day. So, uh, looks like it’ll be mostly Canadians. Yeah, I see. Just, uh, not too many. I was, anyway out, uh, I had some family issues going on, so probably. Last three months, I was, uh, totally disconnected with everything.

So I thought maybe I should join this call to see how things are moving on with others. And also I got my link account approved. Oh, nice. Fantastic. Yeah, just this morning I got the email that you link is active, so wanted to see like, uh, what should be the next, uh, step for me. Fantastic. Yeah, because we, we sense I think like maybe eight people in the last week, uh, because sometimes, yeah, just a lot of people.

So some people were saying I was taking a week and then, so it is good that you got approved because I, we had to just, um, go and, and send supports to them. So, so, okay. So what we can do is, um, I don’t know if you’re on your computer right now, but, uh, but just to make things move quick, I can actually just.

Take a look at your screen and set everything up. But, but the instructions and the, the next step is to get you on, uh, uh, is to get the campaign going so that you’re, you have the messages, like when you connect with somebody, there’s a certain message, uh, and the messages, we, we write them down. They’re all written down here, but, but just to tell you the points of it, we wanna just connect with the, the people that are from the search of the real estate and, uh, so Toronto and real estate investor.

And then we connect with them. And then after we connect with them, then we ask them, oh, are you, are you looking to um, you know, get some more passive returns? Uh, and then we just keep on asking that. Basically we just keep on asking that question. And then if they say yes, then, then we get them the, send them the link call.

So one, one kinda question or concern I had. Basically I’m looking for people who want, you know, like passive kind return. And not for maybe like those are, you know, like the high paid executives or maybe doctors or lawyers and not those people, like not everybody writes from the LinkedIn profile that I am a real estate investor until, you know, like they’re serious investor or part of firm or, so they’re just like, okay, he could be a high paid executive or some, like some high paid professional.

But then that doesn’t mean he’s LinkedIn profile. Say he’s a investor, real estate investor. Anything, do you? Yeah, no, it’s true. And then because the way we start, we start from the low hanging fruits and then the low hanging fruits is really, uh, small, but then it’s really qualified. So then the way we do it, if we want to be really, um, obvious, we just say even limited.

So we try this limited partner. Okay. Because these are people that are saying this about themselves. Mm-hmm. Yeah. So some keywords that have worked well is a really small, really small pool, but limited partner and a credit investor. And, uh, we set the location to, obviously you’re gonna set, it’s at Toronto,

have to set the location to Toronto.

Go up, uh, there. Yeah. Yes. Add the location. Thanks.

And see it’s too specific. So then we only get like 12 people if we don’t have sales navigator. So then we can do limited partner is high intense, so, okay. A hundred and you see like 120, which is still too small where the start, you know. And then after that then we’ll go to, um,

Real estate and who say investor, another thing. So this, this works pretty decently and then you can do real estate and whoops, whoops. Real estate and

angel investor. I, I hate the idea of angel investor, but we found out a lot of people that they say Angel invest, it’s really small, but we found out a lot of people that say angel investor and then also in real estate are really just to like commercial deals as well. Um, so, you know, in short we’ll send you some keywords, but, but ideally we got some new, uh, introductions.

In the meanwhile, while we get this going, uh, we got access to eight limited partnerships that are saying, or limited partners that are saying that they’re looking for deals. So, you know, now that you’re back and we’ll be able to just do a few more introductions to people that say that they’re looking for.

Either commercial real estate or multi-family real estate, uh, in the area. So we’ll do a few of those. Uh, but then the only way to know, but in going back to the LinkedIn, the only way to know if they’re, uh, qualified is just based on the messaging. Because there’s, there’s really no way to know. Like, like somebody can be, um, like there’s no way to know a hundred percent UN until the person messages, and then they start saying that, yes, I’m interested.

That’s the only way to know.

Yeah, that’s, uh, that’s what I thought. Like, uh, yeah. Okay. I, I just got it. So today I’ll start searching. If I don’t get enough people, I will, I’ll probably reach out to you to see. Yeah. Ab absolutely. So we’ll get that going and then, uh, and then just look out for at least, uh, you know, a few introductions in the next, like this week we can get that started, uh, because we got some more, um, limited partners as well.

So, Yeah. Okay. Sure. Yeah, I will, uh, I will, uh, reach out to them as well cause uh, yeah, I was, uh, kinda, um, outta touch for a long time, so I’m just reconnecting and I’ll update you. Good. Well, welcome back and we’re always here to support you, so, uh, so let us know how it goes and then just look at in the next two, two or so days for intros.

Yeah, yeah.  I’ll,

oh, okay.

No worries. Alright, so after Kar looks like Greg. Yeah, no, I’m just, uh, I sent out a few emails, made some contacts with some people you introduced me to that I found few others. I’m just basically waiting to hear back from a couple of them. Um, Just see how those conversations go. So that’s basically where I’m at.

It’s more for today, it’s just more of a jump on and kind of listen on and suit everybody else’s up to No, absolutely. And, and, and thing like I got notified that, uh, I think it was one that told me that, that you, we don’t, we don’t have to go into the details, but if you don’t want to, but there was a firm that, uh, you know, you added, you wanted us to add to the blacklist, and so, uh, went ahead and put that warning out there.

So, okay, good. Yeah, no, yeah. And well, I mean, since it’s on, I mean, we might as well share it since it’s already on the list. So, uh, I mean, it’s Creative global funding, uh, creative Global Financing Services. I can’t remember the name. It’s a really generic name, but I mean, like, I haven’t used them, I haven’t spent money on them, but, um, we just logged your complaints and then shared it on the list, so, yeah, that’s good enough.

I just got burned by ’em, so I just put out warning. No one else gets burned. That’s about it. How long was the engagement?

It was a couple months, and it was about a year, two years ago. So, okay. Oh, you worked with them two years ago about that? I think it was, yeah, 18 months, something like that for a bit. So it just, yeah. Okay. Got it. Hmm. God. Yeah. I think they’re, they’re between four and 7,000. Well, it’s better than a hundred thousand.

Like, I know people that are burned hundreds of thousands of dollars sad, but at least we’re warning people now, so it’s good. Yeah, just, he’s basically just a front for another company, basically, so, yeah. Yeah. I know, I can’t remember the name of the company because somebody was sharing a company after, uh, like somebody was sharing me exactly what happened after he paid.

So I remember he was like, and then you, they were pacing the same, uh, like the same stuff that they’re pacing on the term sheet was from that other, other website. Uh, yeah. So, yeah, so I, I can send you the other company, which I think is a little bit more legit, but, uh, Yeah, I can check it out. But yeah, just stay away from, there’s a whole on your investor list.

I think there’s a much better selection, much better context if you make, yeah, there we go. Alright, so good connects and then, uh, and then I’ll, I’ll move along. And so after Greg, it was AK or no, sorry, it was Shamara then ak then sir. Derek. Okay. Hey guys. Hey nato. How are you doing? Good. Just building as usual.

Okay. Um, I got a feedback from, uh, David, I think, uh, regarding to the two shopping complexes, I sent it to him. Yeah, I’d like to see some sort of feedback from your end. Um, so let me share my screen. Yeah, let me just put on a button. Okay. My bad. You can share it now? Yeah.

All right. So I was, uh, I got this, uh, information from the, can you see my screen? Yeah, yeah, yeah. So this is, uh, one of the things, uh, shopping complexes I got from, um, the, uh, two shopping complexes from the same broker. Um, but, um, numbers not that great. Um, he’s asking I think 13 million for this one. Um, it’s not that, not that good.

Um, only attraction is let’s have a Kroger. Uh, so it’s a good thing in my mind. Um, but, uh, numbers wise, uh, so they’re making a profit of close to one, 1.1, right? Mm-hmm. So there’s expenses, there’s a 43, uh, of production to, uh, 2 34. 6 59? Um, no, no, no. I’m not saying it’s not bad, but, uh, when I saw the np npv net, um, net present value, it’s 843 minus.

This is where I’m, I’m just getting confused. Yeah, because w and then this was the thing that he was, um, I saying, cause I started the ticket that, that he replied to, that David replied to there and then Yeah, he was saying that it’s not a profitable, um, and, and lemme try to pull this up on my end. Um, okay.

Alright. Okay. Let me stop sharing because, uh, yeah, because you can, you can continue, you can, you can continue Sharon, because for me to dig it up it would be a bit of a chore. Uh, okay. Alright. Yeah. So, yeah. And yeah, sorry, go ahead. Yeah. Uh, so one of the things I’m trying to figure it out is now.

Administrative income, everything add up, operating operating expenses 234. So, uh, so he’s making 659,000 right. Per year this year, is that right? I’m looking at, I’m reading this thing right? It, it looks like it matter if you’ve seen more of these and I have. So yeah, take the link. Go ahead. No, it looks like it.

Yep. Yep. Okay. So then EBITDA it’s 828? Uh, yeah. Uh, okay. So he’s pretty much making six. Six, but this year he’s making 6 67, right? 667,000. Yeah. Right. So now how do I know this is what I wanna get it out from you guys. Uh, so the thing, the thing is like, so this is correct. Uh, if we just look at the free cash flow, uh, I’m not really sure if he incorporated the, uh, the interest payments here.

Yeah, that’s what I was, yes. Yeah, yeah, yeah. Are they, are they up there? Are they in the gx? No. See, he’s, he’s put it on anywhere. Right? So he just put it on this, this information. That’s what I’m trying to figure it out. That was, that was my mind too. Yeah. So you, I think we would need to add the interest expenses in this for sure.

To calculate it. Yeah. But we should also be adding the. The future value. So these are the inflows. So 667,016 to 60 70, uh, six 76,000. Yeah. So these are all the per year inflows, like per and net profit, free cash flow that you’ll be achieving. But you would also be achieving, uh, selling this property at the end of five years.

So you would also incorporate that in, so whatever the price will it be. So you need to just factor that in as well. Okay. Do you think, uh, you guys can add that thing if you say it’s like a 6% for 25 years? I’m just thinking loud here. 6%, 4 25 year amortization and the 25 year Yeah. 20% down. Yeah. Ah, yeah.

We, we, we should be able. Yeah, we can do that. That’s not a big thing. Yeah. Because even though he’s in three. So, so purchase is 3.5 million, you said? But you were saying 13 million. Yeah, 13 million. That’s what he was asking. So yeah, so, so this is, uh, incorrect, right? So 3.5 you would change that to, uh, 13.5 million or 13 million.

And then you said 20% down, so 2.6 um, million would be down and the remaining would be debt. And we would be paying interest payments on that debt. Yeah. Year over year, correct? Yeah, yeah, yeah. So, DP equal, uh, this, uh, let’s see. I’m not sure. Let’s say we put two 20% down, right? So, so 2.62, then the rest, uh, the loan amount, loan amount.

Equal 10.4. 10.4 million. Yeah, this right. And, uh, so let just, uh, we can, we can do a quick mark if you want. Uh, it, it should not take that long. So if you wanna calculate 6% of 10.4 mil, so that said, six person would be the interest rate. Yep. Yep. So, so 6% of interest equal, I’m thinking loud here. This one, right?

Yeah. By let’s say 6%, right? Uh, yeah. 6%. 6%. So, yeah, so you pretty much, right? Yeah. So six 24,000. So if you take the six, 24,000 and add it on F 54.

What, 54? I’m sorry. F cell. Cell. F 54. Cell F 54. So you would be doing, is this one we talking about? Yeah. F Yeah. Column F. F, yeah. So you can just add the number. So just below this. Okay. Yeah, just add six, 24,000, just like Yeah, wrote it down. Oh, oh, oh, oh, oh. Okay. I got what you mean. Okay. Like this, right?

That’s what you said? Yeah. Minus, yeah. So you’re subtracted, not add it. Yeah.

And that’s your, okay, correct. No, um, you would, oh, freeze. Yeah. Yeah. Let me see. It’s the same amount, right? Yeah. So it doesn’t make a difference. Okay. And just, yeah, copy paste, that’s gonna be easier.

Why is that? You have to, the number, the numbers, that’s gonna be easier. Right? Click pace values only, uh, this one, right? Okay.

Alright. Yeah. Yeah. So inflows, and now we need to, uh, so if you’re saying that you’re buying this for 13 million, how much do you think you’ll be selling this for? So, um, good question. So the, uh, exit out strategy wise?

Uh, It’s hypothetical, but I think you can sell it for like a double, because I know this, this especially windward place, very popular area. So I think I should be able to sell it at least minimum. Uh, maybe 20. 20. Yeah. Okay. So we would factor that in. So 20 million is your inflow. So you’ll, uh, note it down here.

Um, on K column K 52. Okay. K 52. Yeah. Right. 52. Okay. Yeah. K. So let’s say we solid four, right? Right. No, no. Just below this 53. Sorry. Yeah, this one. Right. So let’s see. Yeah. Um, right. Yeah. So now you also want to subtract 10.4 million of debt from there. From this 20 million, so yeah, yeah, right. Yeah. 10.4 million.

Where do you see the 10.4 million? So that’s the debt amount, right?

Okay. Yeah. So these are your inflows. Now you are, uh, uh, on the row, E 55

different color. So that way I can figure it out. This thing like that. Give one second. Yeah, I can’t read it that blue. Okay. Alright. Okay. I’m sorry. Please go ahead. So on on E 55, you want to write minus 2.6 million? 65. Yeah. Here. Yeah. Where you are. Yeah. So negative 2.6 million, negative 2.6 million. That because of the down payment, right?

Yeah. That’s your equity because we want to figure out the returns for the equity investors and that’s how we’ll do that. Okay. This is, yeah. So we are good. Now if you go to the formula over there, n PPV formula, uh, yeah. And then B 56. Yeah. Select this. So just switch that two instead of B 60. Uh, so E 53 by J 53.

So you just changed that 53 to 55 E and do, yeah. And not J until K. Yeah, just do 55. Yeah. Five. Yeah. Oh, oh, oh, okay. So in J. Make it K, right? Yeah. Both 55, not 53, because we have to factor in the interest payments and the ending value. So we just incorporate those in. Yeah. So that’s your n p present value.

Okay. So there’s a hypothetical assumption we are making that we should be able to sell this thing for 20 million, right? Yes. Yeah. It’s, it’s all dependent on that value, the 20 million. So if you wanna play around with this number, you can just change that to 18 million and see how much you get. And, and you can, you know, uh, look at different scenarios for this,

um, Shaara? Yes, sir. Yep. How you doing, man? Hey, what’s up? Uh, Um, so whatever value you’re selling the property for, any business for mostly, uh, the function of the cash flow right now, that’s, um, you’re buying a commercial property mm-hmm. Which is more or less driven by car rates. So, and as it is right now, I’m looking at the numbers you have right now, you are buying at about 5% cap rates.

That’s right. Yeah. Now, if you’re projecting, you’re gonna have a bit of about 700,000. If you divide that by the going in cap rates, you are about 15 million. You’re not up to 20 million. Uh, even, even I agree that, say that, that’s a big leap of assumption from 13 million to 20 million. Yeah, please go ahead.

So you’re saying it’s, so you’re saying the, uh, price is like a 15 million. No, no, I’m not saying the price. Whatever you agree on right now, I’m saying your exit, uh, price, at what price are you gonna sell? Yeah. So what, what you need to factor in is our realistic is a better, can you achieve more than 700,000 if you can achieve a million?

Yeah. You could sell it for whatever it is, the corporate, the market cap is. So you have to be mindful of what value you think you can sell it for. It’s a function if I want to buy it from you. I look at what’s your, no, I It’s not about what you want sell it for. It’s about what? No, I says, and what’s the market on the basis of that?

I’ll just divide it by what your n no is. I say, okay, this is what I think is worth, but there might be other things I might factor in now. So, okay. Becau, even though it’s worth 12 million, I might buy it for. 13 or 14 million on base of this. This is maybe a putting certain things in place that has not actually materialized or your factor in some kind of goodwill, which I can see.

Then I can say, okay, I’ll buy it from you from that. But if I’m just buying it based on your cash flow without any consideration to, uh, the upside when it comes to, um, intangible, intangible things that you’re doing to the deal or to the business at that point in time. Yeah, I wouldn’t pay more than what the car dictates based on your noi.

So you need to, this, this projection, is this your projection on where you got from the, from the vendor? Yeah. Yeah, yeah. I, I was, so he have like a, pretty much 23 and 22, so based on that numbers, um, okay. 21, 20 22. Now he, I think, Expenses will go up, but also the, uh, this number will grow up gross sales because, uh, uh, and also the tax rate.

So I, I need to think about on the property taxes on there, because those are the places very high. Um, what, what is the revenue growth rate, uh, assumption here? Yeah. I’m not sure. That’s why I was like trying to figure it out. Uh, I dunno, it looks like 3%. So if you see growth rates on the highlighted section, uh, C 23 income.

Yeah. This is what it is, so, oh, okay. Yeah. 3%. 3% it is right? 3%. Yeah. So rather on column D? Column D, yeah. Yeah. At the very top. Let’s see. Yeah. Pass it there. Yep. Renting percent. You’re right, you’re right. Yeah. Yeah. Um, and occupancy also 90%. Um, so I think I can increase occupa. I, I, I assuming Okay, it can be go up.

So if I get a hundred percent, this number can go drastically up. Advantage in my mind is this deal have a, um, Kroger in there. It’s like anchor, like a shopping complex. Okay. So that have like a 10 year, um, 10 year lease? No, actually I’ll take it back. Five year leases up to 15 years, they can go up. So that’s what it is.

Is it? Uh, uh triple, triple net? Yeah. Triple net lease. Yep. Mm-hmm. Okay. So I think it is a triple net, but I think he’s paying something. I don’t know what it is exactly he’s paying, so if you, he’s paying some sort of insurance expenses and all those things too.

I don’t think it’s a full triple net. It’s not because it’s still doing some of these things, like all this GNA shouldn’t. So if it triple net, I think, I’m not sure, but I think it should just be, um, utilities. Um, utilities, uh, insurance and what’s the last one? Yeah, utilities, insurance. Tax. Tax. Property taxes.

Yeah. Yeah,

sure about the, sorry, I’m not really sure about the commission expense. So what, what exactly is that? 3% commission? You shouldn’t, right? Not me. The broker is getting, is the broker. That’s why he pay to broker if you have new, new tenants coming in, I guess. Yeah. So this guy is the person who bringing the new, new tenants so he get money too.

Right. So like, but, but that would be on the, the new tenants and not the whole portfolio. Correct? Um, that’s a one-time commission. I think it’s a one time commission, but I mean, I can get a clarity. I didn’t ask that question dig deep, but I know I, yeah. So yeah, so that should be on, um, the change in rent or, or like, like let’s say the churn rate.

So you would have to assume a churn rate for the year. So between 2023 and 2024, how many tenants are churning and how many of them, um, is the broker getting in? So you have to factor that 3% on that and not really on the whole portfolio or the whole, the whole the overall rent. Yeah. Yeah, that’s fine. But this is, uh, as, um, uh, a is saying, right, this is not a, this is you.

Right. It’s not a full triple net. Right. Because these guys doing a lot of things right. Pretty much what I’m looking at. Um, insurance taxes are pretty big. I think they should, well, if we can negotiate and, well, I don’t think we can right now, but at least with other smaller vendors, they should have the triple net fully.

Uh, that’s my thought process.

Is he selling it? Is he selling it as a triple net? Is, is that how he’s presented it? Yep, it’s, uh, he presented as a triple net, so I didn’t ask that question, but it’s a good point. Okay. Um, yeah. And, and what is the location for this? This is in Georgia? Yep. Yeah. Um, it’s north of Georgia, north of Petland.

I’m sorry. And I like it. Um, it’s a very nice neighborhood, nice area. I think they have the market already in there. And if something goes down south, literally if you see this cannot do anything, you can flat everything out and build an apartment complex and you can make more money there. That’s the benefit in my mind at least.

So exit strategy can be bigger, but um, literally, and it can convert easily. That is a heavily apartment a apart like apartment, uh, there apartments. Yeah. Mm-hmm. Makes sense. So, so then, so then this has been, this was kind of, uh, conclude with, uh, something specific we can do. So, uh, I, I think with the seller, uh, well, I mean, you want to press some hard, right?

Uh, obviously the, but at least it’s hitting. Um, what is the key outcome here? Everyone from, from this, I guess matter and, and then Shaara, you can sell it at a decent price or, I’m just trying to get the, the, the next steps, deliverables, you know, to be, uh, productive. Um, I think, uh, I would like to go price down more.

Uh, uh, I talked to him and I said, I’m thinking about nine. So it’s like, that’s crazy. I said, okay. Or at least tell me a number that you think now what? He said he will do a seller financing for a 9% or a 8%. I said, okay, but for three baun payment or something like that. So financ for 8%? Yeah, eight or 9%.

I, I thought it was too much. That’s too much. I know that’s, that’s the thing. But I want to get it. What, what I ask him like, no one going to pay this amount so gi come, come between, at least come to a certain reasonable number so that way we can work it out. That’s what I will tell him. So that’s why I was trying to gauge with him.

Um, yeah, it is too much. Um, outcome is I want to decrease this 13 million to 10 million. At least that’s my goal, at least. If I can get it to 10, but still in my mind, I would like to increase this number. This is where I think the bottle link as a ising, right? Um, in Hawaii, um, uh, sorry, Jamera quick question.

Yep. Was the cut rate for this kind of asset in the market?

Yeah. Six to, uh, five to 6% rate right now going on in 5%. Five, 5% to 6%. There’s no money here, ma’am. That’s the way I look at this. And the risk is high, right? Yeah. So the risk is high and it’s trying to sell to you about 5%. That’s the, um, the lower end of the market. Yep. If the risk is high, it shouldn’t buy on the lower end of the market.

Yep. Yep. I agree. That price. Yeah. Yeah. Buying at 6% or 6% plus if, if the risk is higher damage, there’s no, there’s no, uh, you don’t have a lot of buyers. So it’s more or less, uh, buyers market. Yeah. Because, uh, if you don’t have a lot of people that are paid for this kind of asset, you shouldn’t be paying 5% corporate.

You should pay more. It should be getting about 6% corporate. Yeah, I agree. And with that, you’ll pay less. You know, if you do 6% C rate based on what they have right now, probably usually end about, about, you know, maybe 11 or 10 then can negotiate that down. Yeah. Is he a hundred percent seller financing or what kind of seller financing?

Sir? He said he will do a seller financing for three payment. Eight or 9%. What, what percentage of the entire, um, deal price. Uh, I didn’t ask that much question. I talked him twice. Got a little bit of feedback, then I got the numbers, but I can go back again. Um, because all that will help you to establish your capital stock.

So even if it, if the guy is gonna sell to you at, if you know, let’s say it’s giving you 25% or 40%, even if 50% and is charging nine, eight or 9% interest rate does a lot, then you’d need to probably take another mortgage or another loan. You know, so you need to calculating the factor all that in. Yeah.

But as it is right now, if, if the number still works at 9%, which is probably what you’re going to get if you’re to get, um, you know, loan from, from the bank or a traditional lender. Yeah. That, I think that’s what you should be getting, nine to 10%. And if the number still works with that. Fine. Then you want to negotiate with this guy at least maybe six or seven.

Worst case, 7%. Worst case. Yeah. Yeah. On your interest rate. That’s, that’s where I go about it. Yeah. Good point. Um, do you think it’s worth try or should I let him wait a little bit? Uh, because I think, I’m thinking loud here because I think the risk is very high and the, uh, I would like at least eight, close to 8% cap rate because I know every property I bought 8% cap rate, I was able to bring it within two years to 10% cap, 10% cap rate.

So the, even the, the finance, like the investors make enough money. But this one, I feel like, uh, if something goes round and someone leave the place, pretty much these numbers can go down very quickly and the margin of error is very high. It’s my challenge, or at least I’m thinking loud. What margin error.

Low or low or high? Low margin error. So if you see it, uh, after taxes, their prices. The net operating income. Right. In why this part? It’s like pretty much 6 59, 6 67. Even if I bring an investor, I cannot give that much money. Sure. So my, I think that’s what a is probably saying without saying to me like, Hey, you need to, you cannot buy this thing for 30 million.

And his offer. So what is, what is he offering the deal for? Like what is he selling it to you for? Essentially 30, 30 million. So Thursday? Yeah. Okay. So what I, what I don’t understand, so matter if you can clarify, what I don’t understand is the purchase of the purpose of this, uh, I guess getting the valuation and, and enterprise value, is it not so that we can see what the valuation is?

So like then why is it that there’s such a difference between the valuation? Like, like it’s, it’s saying 4 million based on this NPV calculation, it looks like. So why is there such, like why is there like a 10 million difference between the, uh, you know, the valuation and then Yeah, yeah. So the valuations depend on, on our assumptions.

So we assumed a big thing at the end of the period that we will be able to sell this for 18 million. So, and that is driving all the value evaluation in the NPV metric that you see over there. So that’s a big thing. But, but what, uh, ADI is saying is it is going to be really hard for, uh, Chiara to sell this for 18 million since the cap goes around 5% and based off that it would be 40 to 15 million maximum.

So that’s a big assumption that we are taking. And if we are wrong about that assumption, then yeah, definitely It won’t be a po positive value. Catastrophic. Yeah. Where does the 18 million come from exactly? Yeah. Random number, not just a random. Yeah. Yeah. It’s, it’s, it is just a number I pick. I thought I can, within five year period of time, way things going on should be able to sell it for 18 million.

Okay. That, that’s, that’s the assumption. I’m, I’m making huge assumption here. Yeah. Well, well, yes, like 70% of the, and, and we may have to address others on, Nicole will have questions, but, but 70% of the, of the, of all the money here is from that one assumption. So that means that 70% of our efforts should be to validate that assumption.

Right? Yeah. Yeah.

Uh, when you’re taking, when you are doing this kind of, um, evaluation, um, what. For multi-family, for instance, you always want to add at least, um, you know, hundred, hundred percent, uh, hundred, uh, business points to your going in corporate as your exit cap rate. Some even push it to about one 50 business point.

So if you’re going in at 5%, you want to say, okay, you’re gonna exit at six or 6.5. That’s what you wanna target. If you exit at five, fantastic. But you want to be sure that you’re very conservative as to what you think your exit value is going to be. Mm-hmm. Now, when you’re doing commercial, like this kind of asset, it’s even more challenging, like you said.

It is, it’s not, it’s not like the residential where people are looking for a place to stay. Mm-hmm. For it to get it, for it to replace the tenant. It’s not something that it could take you six months. Your tenant slip, you take up to six months. That’s right. Right. So the risk is much higher. In that case, you want to add at least one 50 to 200 business points to your ex, to your entry, um, carpet rate as your exit rate.

So that’s what’s everything that is going drive your decision as to whether you should buy or whether I should not buy. Whether you’re paying, you’re paying too much. Yeah. You know, so all this you have to factor in when you’re making your decision as to whether is a good deal or whether it’s not a good deal.

True, true. Yeah. So from my conclusion, I think you’re right. I think if he doesn’t want to come down the price, I think it’s not a good deal and that that’s the way I look at, and I agree a hundred percent. I cannot guarantee I’m able to rent it out. Well, I’m able to rent it out all the a hundred percent occupancy.

That’s the one thing. Another part is. Um, I cannot guarantee in 18 million I can get it out. Also, this lead, this one. Um, so it’s, it’s, but yeah, challenge wise, yes, I agree. Represent, yeah. Um, I don’t mean to discourage you. No, I saw that thing.

Um, I saw that thing and he contacted me. I talked to him. He sent me the numbers very quickly. Then I look at the numbers, right? Do before do this kind of a, like a very detailed analysis. I went through my head and I punched the numbers and I realized this is not worth, and he’s kept it of 5%. Then I said, is anyone going to buy it?

Cut 5%. You understand the interest rate is 6%, right? So you want to make sure you are making the money so that pay, it’s sustainable the risk wise. So then he was like, this guy doesn’t have to sell it. If he said it’s great because he just has to hold on this property. So I’m like, okay, so send me as much information as you can.

Then I’ll underwrite and see whether it works. So it’s No, that’s why you’re coming, right? That’s why people like you have experience and give the feedback. Then you can see the things differently. In my mind, I always think that way. It’s a good thing, not a bad thing, because you don’t wanna buy a deal then you’re stuck with for next 25 years and make minimum wage because I know some people does.

Yeah. Doesn’t make money. You can make minimum wage for free so you don’t have to pay. That’s so Exactly.

Um, I don’t, I don’t wanna take everyone’s time. I know. It’s, it’s I think almost like 30 minutes I took, but, but thanks. Good feedback. I do appreciate. Yeah. And anybody, uh, feel free to raise your hand in the chat if, if anything, I’ll just go in order. Uh, otherwise, uh, okay. Let’s see. Uh, last thing here was.

So Derek Ma made this question about the deal. So Derek was asking, oh, what do you think about asking for a shorter term loan, like six to 10 year term at the interest rate? I don’t know if you addressed this already, this was actually like almost 10 minutes ago, but, uh, that was just a question from Derek.

So Derek, what do you think about it?

So, um, my 2 cents, um, yeah, but he, he’s told me his client willing to do for three, a balloon payment. Um, so eight to 9%, that means very high interest. Um, do I think it’s impossible? No. But, um, market comeback can be, you can predict the market comeback in any, any given time in, in the market. That’s one of the things, that’s what our days.

Emphasizing. I think the best ways in my mind is make sure n NOI is there. Yeah. Access to a reasonable price because if not, you’re buying a job. Yeah. So exactly. So no good. Uh, next steps. Yeah, just some deliverables. Yeah. Just make sure you press them on, uh, all those items on the, you know, obviously it not being triple net.

Yeah. And, and then why is it that, um, and obviously tripling down on that like assumption, not the 18 million. Cause that’s pretty soon. Yeah. And then third, obviously you’re just negotiating and then backing it up with data so that you’re not, it’s not opinion or not emotion. We’re just looking at the numbers.

So it’s good. Okay. Thank you. Thank you. No worries. Mm-hmm. Alrighty. So after, uh, I believe it was so after tomorrow, sir. Derek, uh, Victoria looks like it may be either Peter or Victoria. I’m not sure. And then Tanya, so next, oh, and then, sorry, it was Addie actually, uh, going off memory here. So Addie, uh, how’s it going?

Um, not bad. Uh, not bad. I don’t, I don’t really have anything today, so I’m just here to listen. Yeah, no, no worries. There was somebody called Michael who, um, I think we should, yeah, I saw your email. Thank you. I’m gonna rest, I’m gonna, uh, reach out to him after this call. Yep. He’s an Ottawa investor, has money to throw around, so, so feel free to get in touch.

He has money to throw around. Oh, he, he offered to invest in razors.com and we politely declined it, but, uh, but I mean, if he has money to throw around, then, then let’s just make it, make use of it, right. So, yeah, absolutely. Good stuff. Okay. And Sir Derek

Oh, oh, no, no. I don’t have any questions. Uh, um, regarding. What we’re doing. Cause we just had a, you know, we, we just had our, our meeting, uh, like two hours ago. Yeah, exactly. Yeah. No, good. So Derek and then Victoria. Victoria slash Peter. It’s me. It’s Peter. It’s not, yeah. Okay. It’s, it’s Peter up to me. I’m using my wife laptop, so that’s why you see Victoria showing us Mr.

The Peter showing up. Yeah. Yeah, that’s, yeah. Yeah. How’s everybody doing? Yeah, this is my first time coming in. Yeah. Welcome. Yeah, I, I’ve been working about on, um, getting the treatment that I set, uh, looking into, um, hotels. I’ve been also looking into residential, but my, my take is that if you have an hotel that’s been built for over 10 years, um, based on the things that I know.

I’m not comfortable with buying hotels. Um, I’m comfortable with construction and constructing them and, and the construction will be done rapidly using, um, a model of building system and hotel that will normally take about five to 10 years to build. Can be built in about five, I’ll say probably a year, can be built in a year.

And there’s, there’s a modular system that, you know, I can, when we talk I, I’ll, I’ll share the companies with you. One of them is located in, in Canada, one of them is located in the United States. So the fabrication is gonna be done in, you know, inside. And once department is granted, the construction can be completed from the, from the ground to the top.

It can be done in probably within a year. And so that will not only decrease the cost, that will also give you a chance to build a green asset. Green building that’s energy efficient, that’s gonna save you money over time. That will save you cost in terms of also increase your return over time. So that is what I’m leaning towards.

But you know, when we have a conversation, I can really talk to you about the best. You know, what, what shall I start with in terms of raising funds? Shall I just go out and go into a tough constructionist that building them, uh, to raise funds to build one if I’m able to successfully build one? I also have companies that are ready to manage them so they can manage them efficiently.

Just like the way all this franchise hotels are managed, like Marri Hotel or Shark Hotel, they’ll be able to manage them efficiently, that they’ll start making money from the, from the first day the door is open. So that’s those, those are the kind of things that I’m interested in doing. And I’m also interested in the ripping for me.

Um, if you build from the scratch, And don’t buy whole building that’s been already in the zig sense for 20, 30 years and they’ve already refinanced that building multiple time. And even though the cap rate might be a little bit high, might be a little bit low, but over time it’s always about the structure.

And, and there’s always a chance that because the building that’s been in the zig sense for a long time, the population change in the environment as, as change over time that tenant might leave. So for me, I’m leaning towards actually constructing new asset, not buying something that is already in assistance for 20, 30 years.

And, you know, and so those are the kind of things that, that I’m interested in doing here. Nice. And, and obviously feel free to network with everyone here. There are a lot more usually is just, um, absent flows and then we have this whole, uh, Memorial Day as well. But, so then for, for the, for the deal. So then you’re, you’re looking to do potentially, uh, hotel construction.

Yeah, yeah, essentially wholesale construction. Um, we had, we have some people that are into that space. There’s, there’s Tempus 22, uh, okay. They do tons of, uh, syndications. I, I think they’re just going, coming up on their, their one year with raises.com. So then they may have like expired the, the, the membership, but, but they’re really amazing.

Then we will try to get you connected because, um, they did tons of syndications with, uh, the hotel syndications, like, okay. Okay. Yeah. So that, I mean, if, if you still them, I’ll be extremely interested in working with them. You know, we’ll actually be from a day construction sta from until the end of the construction, the construction company.

Woo. We will see everything. We’ll be on the Zoom saying everything Ali is made in China. If you don’t, if we don’t wanna make, make those mud in China, they can meet them in United, they can be made in United States and you can have them as much as 40 stories. So, And you don’t have to worry about And it’s safe.

It’s safe and, and, but the, the good thing is you actually will, will build an hotel asset within a year instead of taking four or five years to build. And the building and stick method is the old method. So modular beauty construction is the best way to go. But if you have companies that have been doing it for 30, 40 years and now they’ve modernized the system of actually doing them using, um, a AI robots in the factory to build them quickly, um, anything you want actually can actually go into each of the space that you want while, while they, while they build them in the factory.

Yeah. So, but it, it’s an efficient process. Yeah. Nice. So then, okay, so, so lemme look at this. So then for you, you’re looking, I’m just guessing, you’re looking at, would you come in at the land level, say like, is that necessary? So find a piece of land, raise capital to acquire the land, and then get on the contract.

Yeah, X everything. So assuming that the cost of building is five, let’s, as soon it’s 10 million, so I would definitely make sure the cost of binding land is included. Yeah. I could get the line, the building product myself, or I could use the companies, I could do that. They’ll do the whole public process.

They’ll do that, and one of the company can actually do that. They’ll be responsible for anything. So they’ll go to a county, make sure the, the department, you know, they’ll pay for everything. Anything will be negotiated into the contract. So the viewing code to make sure that every modular unit is viewed in code aligned for that particular state or county.

And they’ll make sure that every, every, um, single pot of the mud structure are abide by the, because if you don’t have a structure, they’re aligned by the. County wants you to align by it. There’s always a likely chance that you’re not gonna be giving an pass per hope on your door. So they’ll make sure that anything aligns by the coding and they’ll be responsible for everything.

All you just have to do no to the cost, but I guarantee you is win cheaper than students buying something that’s been as exist success for 20, 30 years. And cause the rate is low, the population changes happen now they decided that their hotel is no longer as, as used to make the management is not doing a good job of himself maintaining the environment.

And that’s why people no longer come in to stay. So all that you can really avoid all that knowing that you’re buying something that is new and, and you can build it to, to be a green tructure, to make sure that the cost of actually managing the hotel itself is very, very low because everything now is about beating a green asset.

The cost of elect would come. Electric bill, water bill, um, structural units, everything is green aligned, and you’re saving money from every, every, every way of managing the building itself that increase your profit. And your investors will make more money that way. E exactly. So what is the company that is, and I’m just curious, what is the company that you said is one is Z?

One is Z Modular. They’re located in Canada. They also have Oh yeah. Ok. But they also have an office, United States there. Oh, okay. Got it. Nice. So then, and just, just for the more, just support stuff, is, uh, were you able to select, because we, when we, when you join, you have, we have this whole calendar thing that we have just for the onboarding because.

I think that, I think that gave you sort of like just a, a call on the, uh, the 10 minute call. Yes, you did. Yeah. Yeah. But then we can, we can have the more onboarding one for when you just joined. So did you happen, were you able to get all sorted smoothly, or, or how was that? No, I didn’t. No, I didn’t. Um, I didn’t, I didn’t have any other conversation with anybody yet.

Yeah. But I, I will look in the scheduled date and time. Yeah. Yeah. Cool. Okay. No, that’s good. I’ll make sure that somebody sends over something to you to welcome you that way. And then, uh, because ideally the next step is what you did exactly. Is because I, I got a notification that you filled in the data room.

So then, then we just do the initial drafts based on this. This just helps me know in the background. And then we do the first drafts, we go back and forth, approve it. Okay. And then outreach, like it’s pretty simple. We just prep a draft and then do outreach really straightforward here. And then that’s just what we’re going to do, um, going forward.

Because I think it was yesterday that, um, the data room documents came in. So it’s good. Okay, cool. Well, well listen, it was nice, uh, welcoming you here. And so then, um, any questions for me before I jump to the next person or No? I mean, I don’t, I don’t have any question at the moment and, uh, by time we have one on one.

If I have any question, I’ll, I’ll ask, but not the moment. Cool. So yeah, so just look out for the email and then, uh, either today or tomorrow somebody will get that data room documents off and then, and then just back Okay. Until, alright, thank you. No worries. Alright, so Roger and Tanya. Roger, how’s it going?

Uh, doing well. Na too. Can you hear me? Yes, I can. Okay. Uh, yeah, sounds good. So, um, yeah, just a bit of background. I think there’s, um, some people like haven’t met on the call. So, um, I joined raises.com like, uh, last year. So I just, just hear like, um, representing like Saltan Energy, which is the company I founded.

But also I can offer my services to the community. I, I specialize in, um, Excel and like real estate modeling. I’ve done it for almost a decade. So, um, for like Westfield, I worked for Westfield as a, a national leasing finance manager. So what that meant is, um, we would, um, I would build the spreadsheets that would analyze Westfield’s US portfolio, which are 7,000 spaces over 40 miles and, you know, um, all types of analysis.

So 20 types of, uh, lease term analysis, uh, leasing spreads, um, broker, broker analysis, tenant improvement comparisons. Um, and that was just for Westfield. And then for like Rexford Industrial, um, I, you know, we built a, a single financial model for a public reit, you know, and that’s like, that’s for example, that’s a 20 tab, at least a 20 tab workbook that’s connected with Yardi.

And connected with Argos. So Argos does the forecasting, and Yardi is the budgeting and the accounting, right? So that’s what a public read would look like. Um, so, you know, I’m interested in, in, um, working with the community and, uh, that’s just a bit of background on, on me. I can provide my resume if needed.

Cool. You wanna, uh, maybe, hey, maybe can some of the clients too, because, uh, like on on our side, we can keep that conversation on, on the, uh, probably offline too, but, uh, yeah, sometimes the demand gets high, so it’s, it’s good to know that, um, you’re professional in the field and then maybe somebody can engage you, uh, full-time, who knows, right?

Yeah, especially because, um, I think that my skills are best utilized at like a portfolio level. So if someone’s doing like standardized deals, like let’s say a multi-family, but they’re doing it in multiple states, I would be able to help a lot with that, right? Because I can make things much more organized.

Make the analysis better, make the investor presentations cleaner, tighter. And then it’s just, um, you know, like for Rexford, I was like the what, the 41st employee, right? I was the, um, I was hired as the first finance employee for the, you know, for the company, newly public and, you know, so, um, I can build out like a financial department I have before.

Nice. Well, listen, drop, drop your, uh, info in the chat and then if anyone wants to chat with you and then, you know, um, any questions for, for me or I would definitely be interested in, in knowing more about what you do. Yeah. Cause that, that, that’s something I can factor into. Um, other things that I intend to build in terms of, um, you know, evaluations and everything and modeling that, that in terms of, um, Speeding.

My, my, my pitch deck. Not only that, you know, anything you do, you definitely wanna have evaluation, proper evaluation done, so that, that sounds good. Yeah. Yeah. And it gets difficult. Like for example, like, um, you could do, uh, you could do n o I calculations by month, right? Or less. And if you have like a five year forecast, you have a, a, a spreadsheet with 60, 60 columns, right?

Ok. You know what I mean? And if you have the portfolio, if you have each property as a row, that’s what this, that’s what one of the sheets look like for like an no comparison. Okay. You know, sounds, sounds, sounds pretty cool. Yeah. But that takes a long time. Right? So if you’re working on your first deal, I don’t, you know, I’m still working on, on like my first deals, right.

So it takes a long time to get to a portfolio level. So that’s why I’m offering my services, you know. Okay. Exactly. Yeah. Good stuff. And then, um, but, but any, any questions, concerns, or anything before I give Tanya to Mike? Uh, uh, no, thank you. Na, too. Cool. Thanks for sharing the LinkedIn and then, uh, and then everyone can get in touch.

Alright, Tanya, how’s it going? Yeah, I’ll pop my, um, resume as well. Yeah, no worries. Hello? Hi. Hi Tanya. How are you? Good. Uh, hi. Just, yeah, just to note, let you know, um, so I think it was Juan who was trying to do an in investor intro and then the email was bouncing back. Uh, so we may want to look into that, eh, because I think there are some investors that, that, uh, they got the bounce back notification.

So, uh, for, this is for the, the second email that you sent us. I think it’s Marger Capital. That one didn’t work. Uh, Yeah. For some reason there was, yeah, it was bouncing down. I don’t know. What I was gonna tell you is I, I’ve been trying to reach Google work, workplace for the, the one that I made the tanya@marcapital.com.

That one doesn’t seem to be working because I, I, um, I, I was told by a few, uh, people trying to reach me that it wasn’t working. So I told them, just email me@marracapitalgmail.com. Oh, you want to take a look at it? Like, I think you can share your screen. Let’s take, let’s take a look. So feel free to share your screen and then, um, let’s just see what’s going on, if that’s okay with you.

Yeah, I just, I’m on my iPad. It’s easier on my laptop. Oh, okay. Yeah. But, um, let me see, uh, let see. How do I share it from this? Oh, Let me first see if I can pull it up before I share my screen. Yep. Gimme one sec.

Yeah. Or or worst case. Um, you know, we can just go on a, uh, you can just send an email, but we’ll try to get it over with now cuz I think we can, uh, see what’s wrong. Yeah.

Do you go to i admin.google.com and then log in because I, you, you, you can do that. Well, I mean, you can just go to, uh, You can just log into Gmail and, and it will, it’ll really help if, uh, I don’t know if you’re able to share the screen, that’ll help. But, but yeah, you can go, lemme do that. Lemme try. Hold on.

Okay.

Trying to do, wants to, it’s different on thing. I dunno. I should just probably log into my, my laptop. Gimme one sec. Yep. I’m gonna see, I, I’m gonna see if I can, um, uh,

So one, one thing we can do, we could probably just have you, um, I mean log in with, uh, your laptop and then just take five minutes out and do it. I, yeah, yeah. Gimme a moment. Uh, I’m gonna log in. Okay. Just, uh, hang on a sec. Alright, great. So, so then, so then you do that in the meanwhile, something that I wanted, uh, matter to, to help me out with is, uh, uh, just macroeconomic summary of the, you know, there’s this whole US debt deal, which was obviously what happened, but, but matter.

Can you just share any, um, your opinions on fiscal policy in the last, you know, few weeks and any changes, if any? Yeah, nothing, uh, much has changed since the last time we, we discussed this, um, similar stuff. Yeah. The dirt ceiling, as I said, like it’ll pass. Um, yeah, they’re just like politics going on and, and it should not be an issue, in my opinion, at the end of day, they will end up, um, raising it.

Uh, but what’s gonna come after is, is going to be difficult because the same thing, the interest rates are high. The, uh, it seems like the banking crisis isn’t really over yet. There is still a bank walk going on. So, deposits our living system, and that is putting a stress on, on all the small and medium, uh, banks, which, which mainly fund funds the real economy, uh, and the mainly funds.

The housing mainly funds the commercial real estate. So they don’t really have funds to, uh, support these lending opportunities that they’re, uh, that, that the market is looking for. So, yeah, I, I, I still have. Uh, kind of negative opinion for the next few months, uh, for the overall economy and in, in this kind of situation.

Uh, free cash flow is the best thing to have. So if you have cash, just it, it’s a great thing. Uh, hold onto it, preserve it. Um, yeah. Uh, yeah, that it just stays the same. Yeah. Yeah. Cash is a great thing. So, uh, I mean, not, not for the long term. For the short term, yes. Got it. Long term it’s, I I don’t think anyone should be holding cash, so it’s, it’s completely different.

Yeah. Um, I’m trying to understand the notion when people say people should hold onto cash, what exactly am I holding onto? What the purpose of holding onto,

uh, so I. When, when I say holding onto cash, that is more for the short term because the, the market is getting into an, in a recessionary environment. And at the same time, uh, you, it’s, it’s not easy for anyone to, uh, uh, get, lend, uh, get debt and, and finance whatever they want to finance. So from that perspective, because right now what the Federal Reserve and all the central banks are doing to curb the inflation is they’re taking liquidity out of the market.

And so they’re not really buying any bonds. Commercial bonds are, are, um, are any mortgage bonds, and at the same time, uh, the interest rates are high. So the lending conditions are so tight at this time, and, and if the situation worsens and the economic conditions worsens, Um, it is going to be difficult, uh, for companies to stay afloat without getting any additional funding.

And since the market is like that, I recommend in the short term, it is beneficial to hold cash. But at the same time, I don’t think cash is a good, um, instrument to hold in, let’s say over, over a one one year period. Yeah. Right now it’s good, uh, because of the market, but yeah, long term it will lose value.

It, it will get devaluated and, and that’s gonna, uh, obviously, uh, you, you’ll lose your purchasing power, um, if you keep on holding the cash. But yeah, short term, uh, it is, it, in my opinion, it’s, it’s a good thing. Okay. We different of thought, but I appreciate that. Thanks.

Have, go ahead. You got your mark. Yeah. So the, I think one, one of the key things I’m, I’m getting out of this conversation is, in a shorter term, raising money and getting debt is going to be a difficult process, right? Uh, yes. Correct. Yeah. Yep. Okay. Okay. Yeah, I, I’m just thinking loud. Yeah, definitely. Well, what, what, what’s interesting is that, I mean, there was a time when interest rates in the states were like, like in the teens.

So sometimes I wonder if it’s relative, because there was a point where everything was in here, zero. Um, and maybe relatives to that. Yeah. Uh, it’s, it’s, it’s harder. But then, um, you know, I mean, I mean, in the grand scheme of things, I wonder, uh, but I, I’m thinking out loud as well. Yeah. I think in this current market, I think we should get used to the way interest rate is right now, at least for the next two to three, five years.

That’s the way I’ll look at it. I don’t expect that interest rate is gonna fall. If it’s gonna fall. We are never going back to, well, I won’t say never, but I don’t see us getting back to zero to percent in the next five years. So maybe we’ll still be offering around five to 10% interest rates for the next five years.

And if you, if you have a deal and the deal still works at that interest rate, go for it. I wouldn’t want to order to cash because it’s not a good, it’s not gonna get better at any point in time. If I have cash right now, I’d rather buy cash generating asset rather than adding onto the cash because it’s not generating anything for me by adding onto it.

So I want to take advantage of whatever is in the market right now, whatever cash I have, so that it can generate more cash for me. Right. That’s the point of, that’s the way I would look at it. I don’t want to order onto any cash. If I’m gonna put my money in anything I have, it has to be generating cash flow.

If it’s not generating cash flow for me, it’s a wasting asset. So order on cash is a wasting asset. If I can’t utilize it, of course, you’re gonna hold onto cash onto when you find a viable, a viable, a viable deal. Or they, I’ve, I’ve heard some comments in the market about, oh, order onto cash at the market is gonna crash.

You can buy before. That’s, that’s all people we just conjecture. And that’s what you heard at the beginning of this year. Look at where the market is. The market is actually going back up now in spite of where the interest rate is. So people that have been holding onto cash thinking that they’re gonna buy some asset for, you know, for cheap, it hasn’t happened.

People are trying as much as possible to make sure that they don’t fall into that category of having to sell their, their asset for a penny or, you know, 20% or 60% discount to the value people are doing whatever it is, because they know this is a very short, fleeting period, that if they can weather this time for the next 12 months or 18 months, yeah, good, they’ll be golden.

Market will go back up and the market is going back up right now. So I would rather put money in an asset that’s, no matter how small the return is, at least generating something for me compared to me keeping it and the bank is giving me less than 1% return on it, on the assets. So that’s where I, I’m looking at it.

Like long-term. I think I, I completely agree with you, uh, in the medium to long-term period, uh, I like completely agree with your analysis and, and that’s how, that’s how your investment strategy should be. But I’m more talking about for the next three to 12 months, month period, like short term where cash might be beneficial.

Because the reason I say that is because all the, uh, like the interest rate increases and the, uh, liquidity constraints that the central banks have put in in the market, uh, the impact of all, all those things hasn’t really started to show up in the economy as of now. So, and, and it to show, uh, To basically see it in the economy in the next six months, two, two to three quarters in, in my opinion.

So that time period is going to be, um, sort of, uh, risky for assets, for risk assets because there, there is a good chance they might drop even more. And yeah, but I, I do agree. That’s all conjecture and, and the, you, you can never predict the markets and you, and, uh, at the end of the day, our markets aren’t really perfect either.

Like the center banks play a huge role. So if they decide in the next three months that they, they’re going to increase the liquidity in the market, it could rally. Like, I, I don’t deny that. Uh, but at the same time, I just don’t see that happening as of now with inflation so high.

Yeah. And, and bear in mind, I, I think a lot of the, uh, and I like the, I like the discourse and the, uh, And did, did I like potential disagreements because it’s different perspective, because it, I don’t think speaking neutrally, I don’t think it’s, uh, black or white. Uh, because sometimes there could be, um, like let’s say there’s a capital allocation strategy or an asset mix where instead of it being, you know, like, like 20% cash or 80% in assets, maybe it just shifts, you know, by a few percent points, uh, based on the risk profile and based on these, based on what people are thinking about the market.

So it’s not as if it’s like a hundred percent asset, a hundred percent cash. It would, I I think it’s more of just shifting in things, a few percentage points based on probabilities of things happening in the macro. Uh, so. Yeah. And, and another, another thing I, I would say to your, uh, point, Eddie, is I, I don’t think we will have five to 10% interest rates for the next three to five years.

Um, I, I don’t think the, our, like with the amount of debt our governments have, uh, on their balance sheet, uh, take it, us take it Canada, take it, other western European countries, um, I don’t think they, they can sustain that high of an interest rate, uh, for, for a long period of time. So I, I do think that it’s gonna come down.

Yeah, that’ll work in my favor, so, yeah. Yeah, for sure. Yeah. So they would curb the inflation, right? That’s the reason they increase the interest rate. I’m not, I’m very worse, but in my mind I look back and think, um, The, they’re trying to, so still in us, in my mind, at least, I’ll look at back. Uh, I don’t know what’s happening in Canada.

Side. Inflation is high in the summertimes products value, at least for the near terms. In my mind, at least for next two years, I see a higher interest rate. That’s the way I see it. I’m not saying I’m an expert on these things. My 2 cents, yeah. I cannot really say anything about the timing, but, uh, uh, yeah, I think it, it, they won’t cut it, uh, cut the rates until the inflation is down for sure.

That’s for sure. But, but there is also another thing about liquidity, which is not really related to interest rates, and that is related to the central banks balance sheet. So we might see a period where, you know, they might end up spending and the interest rates are still high. Our governments like the, the, they might include some fiscal policies, uh, and, and inject liquidity in the market to avoid recession.

Um, but at the same time, uh, yeah, it’s macro is way, way too complicated. Uh, and, and so many moving factors. Yeah, that’s, that’s how, that’s how I feel. Um, yeah. Yeah. There was one analysis that I heard, uh, this was just on this, um, uh, what’s his name? I don’t know if anyone’s familiar with this. All in podcast with, uh, Chama and.

And, and several other billionaires. But that one is pretty good because he was just saying that basically the, the shift in the interest rates show us that the banks, they had their, uh, their balance sheets were, were pretty like the, the, the, the change in the interest rates changed, the value of was allowed the assets that they held, which hurt a lot of the banks and incentivize a lot of these bank collapses because when the interest rate goes up, the value of their bonds go down.

So change their balance sheet around, and then they were defaulting in places where they didn’t expect to. And then some of the effects from that, maybe they, maybe the people would be incentivized to slow things down to prevent the continual collapse of the banks. Uh, that was just one perspective that I heard a few months ago, so,

yeah. No, that, that’s a good podcast. Um, you, they have already good insights and, and difference of, uh, opinions. Yeah, they, they have good stuff for sure. And another thing is the commercial real estate market hasn’t really, like, we haven’t really seen that many defaults from that. And I think that’s going to be another big, uh, issue in the market, uh, for the next, I think six to nine months.

Uh, because we, we do know after Covid that so many, uh, offices are not even getting rented out and, and it’s work from home, remote environment all over. Um, and at the same time, the, the financing costs are so high. So I, I do think that, that that market is going to, uh, go down a bit. Y yeah, because they’re discussing this saying at spf.

Uh, Their portfolio had a lot of Western like in his southwest of United States. They had a lot of those, they had a lot of lens that loans that they sent lend out to, to those commercial deals. And they also had some of them in their portfolio, which obviously would affect them a lot. Right, because when the occupancy rate is so low cuz of this remote work thing, um, yeah.

You know, in combination of the high interest rates, uh, yeah. It changes the, the value of the portfolio. How exactly. And the last question, and I think we’ll pop over to Tanya, but how exactly would, what exactly would happen to commercial real estate besides evaluation just going low because of the, uh, low occupancy rate and then high interest rate?

What, what is the problem with, like, specifically with commercial real estate matter? Yeah, so, so if you look at the banks right now, so banks fund, like regional and small banks fund all of the re commercial real estate and, and this market and. They are already struggling for deposits. So they’re, they’re getting a drain, uh, of deposits outside that and people are trying to invest in treasuries are, are keeping their money in the big banks.

Yeah. So they’re already constrained with lending and at the same time the commercial real estate owners who would want to refinance in the next year or so within the next year. Uh, the first point is they’re already, the occupancy rates are so low, so, uh, they’re not able to generate as much income. Yeah.

So they’re not as good of investments as they were for the banks. Um, so that is one point. And at the same time, uh, the, since the banks are so constrained for liquidity, Like, they won’t really finance the risky investments. They would only finance the top tier refinance. Not even finance, refinance, just the top tier ones.

So that’s, that’s going to bring the prices of Yeah. All of this market down. And that’s gonna slow the other, uh, adjacent economies, uh, that are related to commercial real estate. Yeah, like commercial, uh, cleaning and all that. That makes a lot of sense. It’s a feedback loop, basically. It makes a lot of sense.

Yeah. Oh, cool. All right. So Tanya, have you, uh, set up the, uh, the computer?

Hello, Tanya? Yep. I’m here. I, yeah, I’m on my, uh, laptop now. I’m trying to, um, uh, I’m, I’m having that issue with, uh, how to fix, why my email. Is getting bounced back cuz I, I’m, I switched it like I still have the info@tanyare.com. I, I still have that one cuz I switched it would goad it to monthly cuz I still have emails there that I was trying to uh, forward over and merge, uh, emails that I had, um, already going to that one.

So I switched it to monthly until I can get that sorted out. But why the email’s not working. I don’t, that’s what I, I’m having trouble with. No worries. Let’s just share your screen and then, uh, cuz I can always say, you know, you can go, I can always tell you to go harass uh, Google support, but then, uh, just to be productive, I’m pretty sure we can get it up and running and if not then uh, then even the Gmail at March Capital and the interim, just so that the introductions can go through and end and go from there.

But are you able to share the screen? Yeah, give me at the top right, um,

uh

oh, at the bottom here.

See now I’m in this one. This is the email here, and I click on how to manage it, but I don’t know how you can go in to fix it. Okay. Yeah. Got it. May I, uh, control your mouse and, uh, uh, yeah, I have to. Oh.

Okay, so let me see. So I’ll try to go to admin.

Okay, let me see if I’m in the right account first of all. Okay, so this is good. We’re here. Let me go to admin console.

Very load. Well, if the incident’s not working, then how are we talking? That’s the only question I have. Yeah, it’s, it’s, I don’t, I didn’t even know that, uh, button that you can press it and maybe try the, uh, pressing reload. Yep. That’s why I did, I mean, if, if it’s giving problems and we can just, um, I can get one of these, uh, part-time, uh, developers to, uh, like the person who’s doing our app, uh, I can get them to help you with this because, uh, so I mean, like, it’s a bit of a, I don’t wanna pour, basically, I don’t wanna pour everyone else on the go, so, uh, yeah.

But, uh, yeah, see it’s saying it’s temporary down. Okay. Lemme Okay. Try to, okay. One second.

Hey, hey. Is it, I’m sorry. How you. Tanya. Oh, Tanya. Oh, hey. Hey. So, uh, you use Google, I guess you used Google Mask, domain mask? I use, I, I bought the domain, Uhhuh Larger Capital and then this email. But none, both of them are not working. Oh, okay, okay. Because I’m gonna say sometimes when I start getting bouncebacks or the emails aren’t going through mm-hmm.

Um, it’s cause the inbox in the, so like wherever you go, whether it’s GoDaddy or I pages or wherever it is, it’s because that inbox is full. So you have to, uh, delete it from your, your inbox in order for the stuff to start pushing through. Cause you know, they only give you a certain amount of megabits of storage and everything.

So that’s what I was gonna say. But yeah. But I, I do see Google is, uh, acting crazy as well, so yeah, I don’t know. I don’t, I can’t help you with that one, but, you know, just thought, just thought I throw that out there cuz that might be something. Well, it’s a new email, so it’s definitely not that. But, uh, now, no, I The email from your, from your domain.

So like, um, okay, so, cause you, you got the domain from Google, or did you get it from somewhere else? I got it from Google. And what it’s saying is that there’s no domain there, so the emails are not coming to me saying that the domain doesn’t exist when it is like, I, it’s, this is it, it’s there. The mar mar capital.

Oh. Huh. Well you know what, I’ve reached my ceiling. I reached my ceiling, honey again.

Okay. Mind if I just, uh, lemme just put, play around if that’s okay and then, uh, yeah, sure, sure. Let see. So apps. Because I’m trying to go to the Gmail app here, manage this. Okay. And, and thanks sir Derek, for, for helping out as well. You’re welcome. The workspace.

Okay, so this is on. Sure. So then let’s go to, let’s just go to your g Let’s just go to your email and see how it looks like.

This should send you to your Marra capital email. Yeah. Cause I, it said it ask you when, uh, you log in with Chrome. Which one you wanna use? I just say again? No, I sent it to, it’s sent to its own browser with this email with Chrome on my laptop. Okay. Okay. Got it. Okay. Got it. Okay.

As Tanya add mill account storage is empty. Hmm. Yeah, to be honest, I’m not sure. I may have to, um, take this to the, I would take this to the, the person who developed her iOS app, uh, because they may be able to help with this cuz uh, maybe I’m reaching my ceiling for this as well. But, uh, um, yeah, because I was having emails forwarded to this email, but they were not going through.

And then I was seeing, uh, in the Outlook email, the info tanya.com, uh, so many emails were getting balanced back that weren’t working. Yeah. 1, 1, 1 thing, one last thing I’ll try to do is, uh, send an email to yourself and then see what error message it has. Let’s see if that, that does anything. Oh, okay. Yeah.

And then we can look at the error message code and then see what that means, and then get somebody to Google it and then, then we can harass, uh, whoever is responsible for causing the problem. So, okay. So Tanya, and I’ll send it to myself or to you.

Okay. So it works when you send it to yourself. So now we have to get somebody else to send it and see if that would still work. Yeah. Cause it’s, yeah, when it’s somebody’s sending to me, I’m not getting them. Yeah. So just bear with me while I, and I don’t know if I should forward this email to the mar one until I get sorted out.

I just leave it. Okay. So I got the message. So it says undeliverable. You’ve already got it. Mm-hmm. Yeah. So it says the recipient’s email address isn’t correct. Please check the email address. So that’s the error. It’s sa, it’s sane and the error code is, um, domain not found. So maybe, maybe it has something to do with the domain not being registered.

So I mean, here, I’ll just paste this in here just for, uh, discussion. Uh, where is the Zoom chat? Can’t paste the zoom chat, but basically the error code is 5 5 0. And this is what we, you will send to, uh, I’ll send to the person to fix this. So 5, 5 0, uh, 5.1 0.2. So this is the error code, so maybe it has something to do with this domain.

Probably it’s not registered properly. Uh, so we can get him to fix that. And while I’m still here, let’s try to look at the domain and see how that’s, that’s been set up. Uh,

whoops. I just borrowed it. I never did nothing. Okay. You purchased it. Okay. Yeah.

Verifi, verify the details.

Yeah, I don’t know. Everything was good to me, so, yeah. I’ll, I’ll get the, uh, this is my limit. I’ll get the, uh, program ready to see what’s, what’s up and by tomorrow they’ll, uh, you know, they’ll say, they’ll say what to do because, uh, oh, check this out. Wait. We may have found it. Uh, so domain isn’t serving because the registered email address can’t be verified.

It might be inactive. So let’s click on resend verification email. Okay.

So verification email is sent to this email. So then you have to go to that email. So take the lead on the mouse. So if you can go to that email and then click on whatever they say to click on. And then let’s see if it’ll work with back here. Click. Can you try and click manage? It doesn’t look like the Google workspace is showing us service.

Hmm. Uh, so X out of that, the, the, the one on the top. The layer on the top. Which one? This? Uh, larger capital. Close. Close. The one on the top? Yeah, you see the x? Oh, this? Okay. Yeah, that one. The dialogue box. Sorry. Um, go to Domains overview.

Where were you at before that was showing the services? Sorry? Uh, is that in the account settings? Oh, I think that, was that apps, you know, when it said Gmail on, you mean that or something else? Oh, I’m not sure. I, I just didn’t see that Google Workspace was, it should show as a service under the domain, right.

It said service is none right

at the top. Oh. Scroll all the way. Let’s scroll all the way to the top at on admin window. Oh.

And then click Manage domains under Marjo Capital

Manage, yeah.

View details,

uh, click manage domain via Google Domains.

Yeah. Cuz I could get my email working without, like using the admin console. Um, I think it’s, it’s the Google workspace needs to attach as a service. So click manage there on the right side. See how services says none. That’s what I was concerned about. Yeah. Oh, roll down. Scroll down, please build website.

Okay. Click website on the left panel website on the wall. Okay. See, see yours, Google Workspace is there. So go click website on the left panel. This part website. Mm-hmm. Um, let’s see.

Damn. This is work. That’s weird. Okay. Click DNS on the left panel. Yeah, on the left. Antenna.

Scroll down.

Uh, who’s your, who’s your, um, website host Google.

Google sites. Mm-hmm.

Wow. I mean, this, this will, this will take, uh, see, I don’t know. Yeah. So, so let, let, let’s go to, um, the Gmail and then, uh, and then just see if the verification would help. Uh, okay. Let’s try that. Cuz it’s the thing in Big Red that is like flashing in Big Red, you know? Yeah. Lemme see if

would it be here? Well, well it’s, it’s whatever email that you have, uh, march capital gmail com. So you just have to go to that. Oh yeah. The one that’s the, so not this email, not the tiny margin, but the other email link to links. Yeah. Oh,

let’s see.

Actually, actually required. Yeah, let’s do that. Okay. Click verify.

Okay, so it’s been verified. So now,

now let’s see if it works. So let’s just get somebody, uh, to send some email there. Uh, I’ll send an email. Okay. Doing this right now. So compose tanya marger.com. Mm-hmm. Subject is called test,

so I sent it.

Oh yeah. And just check to see if you got it. Yeah, I got it. Okay. So you, so all it needed was that verification. That’s why none of my emails have been going through it. It, it looks like and um, yeah, cuz it was saying it doesn’t exist. So I guess can you send a report back and test and tell Go ahead.

In terms of my web, the bra. I got it. I’m, I got it. Got it. Yeah, we’re good. Yeah. Okay, thanks. Yep. Now we can move on to actually raising money. So it was, I know. Oh my gosh. Thank you guys so much. Yeah, no worries. Thanks Roger as well. You, yes. Thank you, Roger. Cool.

Oh, alright. Th this meeting, uh, pretty, pretty bloated. Uh, so, so we can start to wind down, but, uh, but any, any last questions before we hop off Tanya? Um,

In terms of the brow, in, in terms of, uh, with Google, with the domain, uh, I have to go into that admin to make any changes to the, uh, website. Like I wanna start working on it. Well, what I recall, so then when I, when, when Roger asked, okay, what website you using? You said Google sites. I, I I, what’s that? Hello?

Yep. Uh, yeah, yeah, I, I guess I could answer that. So, um, you have your, uh, you have your, uh, mar marjo capital.com. So you own the domain. You don’t have a host and you don’t have a mailer, right? So when I was looking at D n s, I see you have Google Workspace, but you, I didn’t see like under website, I should see like your website preview, because you don’t have a website host.

You should click build a website and it’ll take you to Google sites or Blue Host or um, IU SiteGround usually. Um, and then also for the email, usually your host will include that. Um, so yeah, and then you can set up your user there as well, a different user like webmaster at Larger Capital or something like that.

Um, so yeah, I guess that that would be the advice. So it, when I go into here, the domains overview, I have to make those things. It would be under Google domains, uh, not Google. That’s, uh, Google. I think that’s Google Profile Admin technically. Yeah. But, but, but just, just to make sure there’s no confusion because, because before we’re talking about, uh, go high level, uh, because go high level, that was the, uh, I dunno if you remember with it.

That was like the original thing with the landing page. It’s like ClickFunnel alternative. So, you know. Yeah, just it is good tip, but just careful. I don’t have to worry about that right now. No. Well, I mean, first we’re just trying to send, send and receive emails to start with, but, you know, later on, I remember there, we were talking about like the email automations, the, the funnels and all this, uh, and then go level has, um, an alternative to Google sites.

I understand it may not be using the right terms, but it has an alternative to the, uh, to the, to the website builder that you may be able to connect together. But, but, but let’s just, let’s not get, uh, shiny Object syndrome. Let’s focus on, uh, on the, uh, you know, just getting the introductions now that they’re working.

So then I’ll get somebody to get those introductions and then away we go and we move on to the next thing. Okay. Thanks so much. Thanks for your help. I appreciate. No problem. Cool. All right everyone. Good call. Uh, this will be recorded. We have a backlog of calls. We’re gonna upload and it’ll be done, uh, asap.

And then, uh, and then happy Memorial Day everyone, and we’ll see you, uh, Wednesday at 11, and we also have one next week as well. All right. Happy more day. Thank you. Thank you. Thank everyone.

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