Connect with Terrie Schauer:
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Selected links and people mentioned in this episode:
Mindful Landlord by Terrie Schauer
Big Five Personality Test
Rich Dad, Poor Dad by Robert Kiyosaki
Way of the Peaceful Warrior by Dan Millman
Anxiety, Phobias & Panic by Reneau Z. Peurifoy
Logotherapy
The Mindful Wealth Podcast
12 Rules for Life by Jordan Peterson
Mindset by Carol S. Dweck
Connect with REIN Canada
REIN Canada
[email protected]
Facebook
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SHOW NOTES
02:08] Patrick introduces his next TEDM guest: Terrie Schauer
[04:45] Terrie and Patrick get the show rollin’ to hear Terrie’s elevator pitch, her turn from Montreal to France and back again plus why she reinvented herself as the “Mindful Landlord.”
[06:52] The two pivotal influences that steered Terrie toward the pursuit of real estate and property management concurrently with her University studies.
[09:20] Terrie came by her entrepreneurial mindset honestly being surrounded by a family of entrepreneurs. Conversations about business and her father’s company were common around the dinner table and everybody got involved. Although early signs pointed Terrie away from business, to her surprise her life course headed right in that direction.
[12:01] Terrie’s inherent personality, systems thinking, and character poised her to quickly take on the role of house manager in University days which informed her future experience and success.
[13:24] From manager to rental property provider. After successfully running student housing from other people’s properties, Terrie decided she was going to get some skin in the game and pursued a new venture. A triplex in a rather cracked out neighbourhood of Montreal brought opportunity for ingenuity, creativity, tenacity, and a desirable business model to market.
[18:07] Before moving to Marseilles to pursue her dream in semi-professional kickboxing, Terrie capitalized on the value increases in her neighbourhood and with the equity she had accumulated purchased a second building five minutes away to broaden her student community and a create a spirit of fun.
[20:56] In a business space where she wears multiple hats, Terrie is still most gratified by her vision for managing a property’s potential. To see an area, a building, and visualize its highest and best use, optimize its potential and bring it to fruition.
[23:09] Terrie provides insights into Montreal’s rental market, a very tenant focused market where tenancy laws don’t account for much personal responsibility. Most of Terrie’s coaching clients are also focused either in Quebec or are looking to get a foothold in the interesting investment opportunities that Quebec offers.
[26:54] Terrie offers examples of some of Quebec’s most glaring differences to other Canadian rental markets to illustrate how tenant-centric the laws truly are. From no ability to collect a damage deposit to lack of eviction remedies, rental property providers have their work cut out for them. Thankfully, the screening process can still provide strong filters.
[31:22] In the landscape of the Quebec rental market, Terrie talks about building types, patterns for investing, and what she sees for the evolution of real estate investing; less about increased rent control and restrictions (they are already about as tight as they are going to get) and more about the practice of working within them to take advantage of a thriving market.
[35:35] Patrick and Terrie touch in on the effect of this past year’s events in a city that is the most densely populated in North America and the economic challenges they pose post-mortem from such lengthy and intense shutdowns.