From Social Work to Real Estate: Scott Thompson's Inspiring Path & Investing Tips
In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham interviews Scott Thompson, a realtor with at RE/MAX in Windsor, Ontario. Scott shares his background growing up in Windsor, from playing sports in Roseville Gardens to caring for his grandfather with dement…
In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham interviews Scott Thompson, a realtor with at RE/MAX in Windsor, Ontario. Scott shares his background growing up in Windsor, from playing sports in Roseville Gardens to caring for his grandfather with dementia, which inspired his entry into social work. He discusses his time at a rehab facility helping young men overcome addictions, building trust, and managing emotions—skills that directly translated to his successful real estate career. Emphasizing patience and informed decisions, Scott explains how he guides clients to avoid emotional pitfalls in buying homes or investments, drawing parallels to his social work experiences.
Transitioning to real estate, Scott highlights the value of transferable skills like reading body language and prioritizing client needs over flashy sales tactics. He provides insights into Windsor's market, noting opportunities for first-time buyers and investors through strategies like duplex purchases to offset mortgages with rental income. An example includes a client buying a $505,000 duplex where tenants cover 78% of the mortgage, setting up long-term wealth. As of November 2025, Windsor's real estate market shows stability with average home prices around $573,548 in October, down slightly from previous months, amid ongoing developments like the NextStar Energy battery plant now focusing on energy storage production starting this month.
Scott debunks market crash fears, pointing to historical rate cycles and growth drivers such as the $5 billion battery plant, new hospital, and bridge. He references projections for Southwestern Ontario's population to grow about 31% from 2024 to 2051, largely due to immigration, boosting demand. For investors, he stresses evaluating big-ticket items, using conservative rent estimates, and playing the long game for appreciation. This episode offers practical advice for navigating real estate in Ontario, blending personal stories with updated market realities for aspiring investors.
Key Takeaways
- Transferable Skills from Social Work: Building trust, managing emotions, and meeting clients where they are help prevent impulsive real estate decisions, much like in addiction recovery.
- Emotional Control in Buying: Advise sleeping on choices, journaling pros and cons, and avoiding gut reactions to prevent buyer's remorse in high-stakes purchases.
- Duplex Investing Strategy: First-time buyers can use duplexes to have tenants cover most mortgage costs, e.g., 78% on a $505,000 property, leading to positive cash flow and portfolio growth.
- Windsor Market Update 2025: Average prices stabilized at ~$573,548 in October 2025 with slight declines; expect growth from infrastructure like the NextStar Energy plant (now energy storage-focused) and 31% population increase in Southwestern Ontario by 2051.
- Long-Term Investing Mindset: Hold properties for appreciation, calculate all costs (taxes, maintenance, insurance) conservatively, and prioritize transparency to spot issues like foundation problems.
- Client-Focused Approach: Honesty and education build lasting relationships, encouraging informed decisions over quick sales for sustainable wealth building.
Links to Show References
- Scott Thompson's Contact: Phone - (226) 773-3162
- LendCity Mortgages (for Pre-Approvals): lendcity.ca
- (00:02) - Introduction to Scott Thompson
- (02:06) - Childhood Memories
- (04:37) - Transition to Social Work
- (09:45) - From Social Work to Real Estate
- (12:46) - Emotions in Real Estate
- (17:55) - Smart Investor Strategies
- (23:52) - Current Market Insights
- (29:51) - The Long Game in Real Estate
- (31:08) - Building Trust with Clients
Transcript
Introduction
Welcome to the Wisdom Lifestyle Money Show. I'm your host, Scott Dillingham. The show is designed to help Canadians invest better in Canada and the United States. We are the North America-based mortgage financing lender and provide education to both countries.
Discover how you can become a better investor and access the financing you need. Welcome to the Wisdom Lifestyle Money Show.
I'm your host, Scott Dillingham. I have another guest with us today who goes by Scott as well.
This is Scott Thompson. Welcome, Scott.
The Core Idea
Hey, guys. Thanks for having me, Scott.
Yeah, no problem. So Scott is a realtor with Team Gorin. And prior to that, I know you did some social work and I know that's had a big impact on helping you to be successful with what you're doing. And you're going to share some of the cool things with us today.
But let's start off with your childhood. Can you tell us about that?
Yeah, absolutely. So I was raised in Windsor, Ontario. I grew up on the east side, Roseville Gardens.
Deep Dive
I went to St. Alexander's School and then I went to St.
Joseph's, the old St. Joseph's on Empress. So I played a lot of soccer, played a lot of sports growing up. I never really know what I wanted to do.
I was always bouncing back. One week, I want to be an electrician. Next week, I want to be something else, a pilot, whatever. So I was just kind of figuring my way through life there.
When I turned 19, I moved in with my grandfather out in LaSalle. So that was pretty cool because he was like my hero growing up.
Practical Steps
That's awesome. Yeah, yeah. He'd always be fixing something and he would teach me how to like fix the lawnmower and ride the lawnmower and take me on different trips.
So he was a pretty cool guy. And I looked just like him too.
That's awesome. That's funny.
Yeah. Yeah. It was a great experience living with him.
Key Takeaways
And eventually he got sick. He started getting dementia. And it was just a big shock for me, right? Because dementia, as many people know, really takes a toll on families, right?
But it was definitely an opportunity for me to get closer to him. And just I learned that caring approach. You know, you really got to put their needs first and understand what they're going through and definitely developed a lot of patience for me.
Yeah. And my heart really started to go to other people with dementia. And I felt like we had a really good connection. And that thought led me into social work.
That's awesome how life works and how one thing leads you into another. Absolutely, right? They always say when you're not looking for it, you find it. And that's what happened with me at that moment in my life with social work.
Resources
I went to school and I was taking the classes and kind of figure out like what I could be doing. And then I graduated and I started working at a rehab facility actually.
Okay. So a bit of a difference from when I first started. But yeah, I started working for a rehab facility and it was basically helping men with addictions to learn how to cope, you know, get through that battle.
So that was a really cool experience. That's awesome. So when you were there, without getting into too many details, but would you be able to elaborate on maybe someone's story or scenario that you helped them to get through?
Sure. So I found I really connected with the younger guys there. Going through high school, like trying to fit in the peer pressure, going to parties and whatnot, living with their mom and then not seeing their dad all that much.
Introduction
I can relate to that. And then just, I found that a lot of the younger guys had issues with trust.
They couldn't trust role models. They couldn't trust maybe certain friends. And in social work, any type of like helping setting, trust is like the number one thing. And that's what I really wanted to establish is whatever you tell me stays with me.
I'm here to support you. I'm not here to put you down. And the biggest way I kind of do that is understanding where people are at and meeting them there. So, you know, if we're talking about certain subjects, you can see them in their face.
I don't want to talk about this. This makes me feel really uneasy. And maybe, yeah, it's a conversation that needs to come up somewhere down the line, but that's not where they're at. You can't help people recover in one day.
The Core Idea
It's a process. It is.
It takes time. Just like everything. It doesn't matter if someone's losing weight or they want to climb the corporate ladder in their career.
You have to take time. So that's cool. I love that you, one of the things that you said there was trust. Like you really work with them on trust.
And I think that really goes hand in hand with being a realtor. I totally think it does, which is awesome. Another thing that you told me, which I thought was really cool, is you help people with, like not letting their emotions take over their thinking process.
Deep Dive
Right? So can we touch on that and maybe where you saw people let their emotions get the best of them through your schooling or practicing it at work? And then we'll tie in how that has helped you now as a realtor.
Yeah, absolutely. That's a good point. A lot of the guys, when they were there in the rehab facility, they would be ambitious and maybe in the beginning that they're going to make this change. But, you know, being there after some time, it's just, I miss home.
I miss my girlfriend. I miss my friends, whatever. And then they decide, I'm leaving.
You know what I mean? I'm good now. I'm going to go back home and everything will be okay. And I really tried to help them.
Practical Steps
Hey, let's just think about it. Let's maybe sleep on it tonight.
See how you feel tomorrow. I know for myself, anytime I make an emotional decision, I usually regret it afterwards.
Yeah. Right?
So we help them to do that. Sometimes you can get this like gut feeling, if you will. And you think, oh, this is the right thing for me to do. I got to go home or my parents need me to be there.
Key Takeaways
And that doesn't always play out well either. Another thing too, I would have them journal or write something, like write how they're feeling. Because that really gets people in the moment. And sometimes it's hard for people to express how they're feeling, especially when they have all that anxiety in them.
Yeah. And so when they can actually write it down, it gets into more detail of how they're feeling. Not going to say it worked every single time.
Yeah. But it did work.
Yeah. No, it's cool. I like that you said that because even like with goals, right? You write down your goals, then you look back at them and maybe your ambitions or your motivation or your just goal in general change.
Resources
And it's something different, but it's cool to be able to go back and reflect on it. And no, I love that. And I think it's a super valuable lesson for anybody, right? To not let your emotions get the best of you.
Did you find that was, obviously addiction was a major part of why they were there, but did you find that it had to do with emotions a lot of it or was it just, oh, they're hanging around with the wrong crowd or what do you find the culprit? Let's say people, places and things.
Okay. Yeah. People, for sure, the people you hang out with, the places that you go, the things that you do. That's definitely a huge aspect of it.
The other part is learning to handle emotions in a healthier way because maybe they grew up in an environment where their parents didn't handle things a certain way. And that's learned behavior. And once you develop at a young age, it's really hard to change.
Introduction
Yeah. Yeah. Definitely possible, but it takes some work.
It does, for sure. No, I love that.
So, cool. So, no, what I want to do now is tie it into real estate. And then I do have a random question for you that's totally unrelated, but you said something about your childhood. Maybe I'll, you know what, let's start there.
But you mentioned when you grew up, you wanted to be a pilot and do it. Did you ever fly a plane?
The Core Idea
Did you ever do that? No, I just watched Top Gun and it seemed pretty, pretty cool.
That fulfilled you. Yeah, yeah. Seeing Top Gun, seeing Tom Cruise, it just seemed like a fun thing to do.
Nice. Yeah, yeah.
Cool, cool. No, I was just curious if you ever got around to doing it.
Deep Dive
So, you can do it. Did you know, like, they have at the Windsor Airport, I just did it last week, actually. You do an introduction course to see if you want to get your pilot license and they'll let you fly the plane. They have someone with you who guides you, but yeah.
Oh, I didn't know that. Super cool. I did know because I took my girlfriends on a plane tour or a plane ride around Windsor-Essex County.
And it's crazy. Like, you can get to Leanington in like 15 minutes in a plane, if not 10.
Yeah. But yeah, it was a pretty cool experience. So yeah, maybe that's something I will do.
Practical Steps
It's super cool. I don't know.
I'm doing it for fun. That's why I ask, because it's something that I like.
I'm doing it for fun. I don't want a career out of it, but it's just one of those things, right? Me, like you, when I was little, I thought it'd be cool to fly a plane. Now I'm at the age where I'm like, I'm going to just do it.
It's what I want to do. So here we are.
Key Takeaways
But no, cool. I know. So that was random, but I was just curious.
It's all good. You should put a Len City flag at the back of the plane.
I'm going to. Yeah. Once I have the license where I can fly myself, I'm going to do that and my partners, whoever I work with, I'm going to have their banner flying behind too.
All right. Throw mine up there too.
Resources
All right. We'll do it.
So cool. So no, I want to tie this back into real estate. And for those who are listening as well, Scott does a lot with investors. So this is where this kind of all ties in, but people buying their houses or investment properties, it's one of the biggest purchases that they're going to make right in their life.
So let's touch on how you've used what you've learned helping people in the past and how it helps you to become the best realtor for them now and for them to make their next investment or their home purchase an easier process. Yeah, for sure. So in social work, they always talk about these transferable skills.
Okay. With one job to the next, all these skills overlay. But I didn't really think of it, you know, heading into real estate, like how applicable social work could be, you know, but it's all about building relationships, building trust. You're working with people, you're helping them to achieve a goal.
Introduction
It's just in a different setting. Yeah. And so the more I started meeting with people and chowing around homes and taking them through the process, the more I felt like I am a social worker in a sense, but I'm a real estate agent too. So one of the first things I noticed is, again, people need to trust you.
One of the things that kind of held me back from real estate is like, I'm not this flashy, fast-talking, maybe a guy that really sells something, maybe the way that guy does on, what's that movie, Leonardo DiCaprio? Oh, with the stocks?
Yeah, Wolf of Wall Street. Yeah.
Yeah. I'm like, I'm not that guy, so I couldn't be a real estate agent. But I said, let's give it a shot.
The Core Idea
I like working with people. I love learning about houses, so let's give it a shot. And once I started sitting down with people, I'm talking to them like, why do you want to move? What are you looking for in a home?
What's important to you? What's not important to you?
So I got to know them. And then as we started walking through the home, one of the first things I would do is look at their facial reactions, look at their body language.
Do they like this home? Do they not like the home? If they're giving me a vibe that like, I hate this place, I'm not going to sit here and say, look at this kitchen or look at this or look at that. Look how awesome this place is, right?
Deep Dive
Yeah. Because they're just going to think, this guy's just not getting it.
I don't like this place. Leave me alone.
Right? So that was really important. And then just being honest with people. A lot of flips nowadays, they just throw lipstick on it, man.
They'll paint, pot lights, kitchen countertops, some laminate flooring, and the place looks awesome. And yes, that is what sells homes. You know, we had an experience last week where all that was done, but the foundation wasn't taken care of.
Practical Steps
Right? So we actually seen some water seeping very minimally at the baseboards. And upon further review with an inspector, we found that there was water seeping in and there was mold around all the bottom.
Right? Oh, just being able to be transparent because if that person, like they love the home, but if they bought it, it would have been a nightmare. So looking out for clients' best interests is definitely something that translates into real estate.
No, that's so cool. So let's talk about the emotional side of things.
Right? So I know that was something that was really big with your social work. How do you, in the real estate market, how do you have people not use their emotions? Because I know a lot of times where there's bidding wars, it's emotional based.
Key Takeaways
A lot of times. And so how do you help people with that, with real estate? Yeah, it's a good question because it comes up quite a bit. I'll be with a client and we'll go and take a look at a few homes and it could be like the first, maybe even the second time we meet.
And they'll see something. They love it. And like they can picture themselves living there and they're like, okay, let's write an offer. And I said, okay, do you want to check out some other homes first?
I know with myself, like I'm a human being too at the end of the day and I can make emotional purchases. I'll go into a store and I'll fall in love with something and I want to drop money and then I won't look at the other stores that were less than the more, right?
Yeah. And then I'll get that buyer's remorse. And that's over a pair of shoes or a jacket. But we're talking about houses here.
Resources
This is a huge lifelong investment. This decision will change your life. And so I try and tell people like, you know what, this is a great home, but the likelihood of you finding another home that you love is very possible. We probably will find one next week or in a week after, you know what I mean?
And I want you to make sure that you love the area, you love the home, you've looked at all of your options before making a decision like that. And, you know, sometimes it's like, I don't know, Scott, I really like this home. And I say, you know what? Let's go home, sleep on it.
I'll let these emotions kind of unravel, talk to your partner, talk to your family. And then if you wake up tomorrow and you feel the same way, then we can talk further. But I always tell people, take it easy. I had this guy call me the other day and he said, oh, I love this home.
Can we write an offer? I'm like, do you want to see it? He's like, oh, I don't know.
Introduction
It seems fine to me. I'm like, let's just go check it out. We went and checked it out. I was like, man, I'm glad I didn't buy this house.
Yeah, there's other options out there. And we got to, I just want to help people make informed decisions. I want to let them feel like they're a part of the process.
Yeah. So it's funny because in the beginning you said sleep on it, right? That's what you would do with your social work. You'd tell them to sleep on it, not to trust their gut, which seems like the same thing.
Like the first instinct of your gut, wait on it. Do you have them write things down on the property or no, that they like or don't like?
The Core Idea
Sometimes, yeah. We'll talk about some pros and cons. We'll like, you know, just weigh everything out. And then sometimes people will see the price and it might be a bit out of their budget.
Yeah. You're right. And they fall in love with it. It's just like, oh, I'll quit smoking or I'll sell my car or I'll do all these things so I can pay for the mortgage.
But at the end of the day, it's like, are you really going to do that? You know what I mean? Are you going to be house rich and cash poor, right? I don't want people to do that either.
Meanwhile, there was another house that they may could have done the same thing to. Maybe they could have bought 100 grand less and put in 20 grand, right?
Deep Dive
And made it their own. They would look just as good, but with their own finishes. So these other options are trying to help people walk through. You know what I noticed about real estate in every city is different, but with our market here, that even going one street over can have a drastic difference in house pricing, but you're still in the same area.
So you can still get that area, but literally one street over and you can save tons of money, which is pretty cool. Absolutely. Now, another random question for you because I'm a random kind of guy.
All right. When you found your gym, did you look at multiple gyms or did you, was it love at first sight? I was love at first sight, I think.
Yeah. Yeah.
Practical Steps
You didn't sleep on it? I didn't sleep on it, no.
You knew. Yeah.
It was good life. It was flashy. They had all the best equipment. I didn't care about the price.
Didn't care about the drive. And then I'm driving there all the time and I'm driving past this nice gym. It's a lot cheaper every day and I'm wasting 20 minutes. And I'm just like, oh man, you probably should go there.
Key Takeaways
So I ended up making a switch. Nice.
And the new gym's good? Yeah, it's good.
That's awesome. Yeah.
Yeah. Perfect. I know it was random, but I'm just curious if you, if it was love at first sight there.
Resources
So perfect. So I know you have an example as well where an investor, a smart investor, he didn't use his emotions to make the purchase. He worked with you and your team to run the numbers, analyze the property and they found one that really worked. Could you dive into some numbers and process that you guys went through to make sure this was a good buy?
Yeah, absolutely. So I'll use a different example just to kind of set the story for this one. I had a client reach out to me and he said, I really like this home. I want to buy it this price.
Can you give me like my net proceeds, my cap rate on all this? And I said, we need to find out what you're pre-approved for first. We need to find out what your rate is because if I don't know your rate, I really can't tell you much.
Yeah. 1 fix, like who knows what it's going to be.
Introduction
Yeah. And that determines everything. So I got him to get pre-approved with Lens City actually and work in the works. But with my client, I just helped buy a duplex last week.
First time home buyer. I love first time home buyers.
It's exciting. And you can really build that relationship.
You can build that trust. You can educate them so that they're making the right decision.
The Core Idea
Okay. So this gentleman had the best idea that I recommend to anybody if you can and we bought a duplex.
Okay. His idea was I want to have a tenant to pay most of my mortgage or all of it and I still have a nice place upstairs to kind of offset the costs.
Right? And so we, what we basically did is we looked at the unit below and we figured out, okay, how much can we get for this place?
What's the market rent? You know? And then we looked at what he's pre-approved at.
Deep Dive
What's his rate? And then we crunched all the numbers. And it's more than just the mortgage rate.
It's what's the taxes? What's the insurance? We got to include some maintenance fees in there every month because your foreigners might blow next month.
It's all the time. Yeah.
Yeah. It happens all the time. You know, it's working right there. Even little things like light switches.
Practical Steps
If the tenant breaks a light switch, even if it's an accident, it's something that you have to repair. It's, you just never know.
Yeah. Always got to be ready.
Yeah. Love it. So yeah, we calculated all those numbers and I gave it to him. I said, hey, this is what you can expect to get in rent.
This is going to be your payments. Are you okay with that number? And when we never liked the fluff up numbers, like if the market rent, you know, say 18 to 2200 for this home, I'm giving them about 18. This is for sure what you could make up to this number, but let's just stick with the lowest number just so that your numbers are safe.
Key Takeaways
I like that. Yeah.
I actually like that. The lenders, just so you know, they use the average. So in your scenario, they would have used 2000 a month for the rents.
So this one was 18. But it was 18 to 22, didn't you?
18 to 22. Yeah. So they would use 2000 for the client's application. But if you're using 1800, you're building in that buffer for extra security.
Resources
So I actually like that. Yeah, for sure. And the clients like it too, right? It's like, okay, this guy's not trying to sell me on anything.
He's being honest with me. And this is a very realistic number that I can get.
Yeah. And so when I gave him all those numbers, we went through the house, we talked about the area and we ended up getting the property at an amazing deal.
Nice. So a duplex 505,000 in a great neighborhood. So he has 78% of his mortgage being paid by this new tenant that he decides to bring in.
Introduction
That's awesome. And then if he gets married, grows a family, whatever the case may be, he can move out and then rent out the other side and then we'll have positive cash flow.
100%. 100%.
Super cool. Yeah. So he's paying, you know, $500 a month plus utilities for a nice place to live. Like where can you rent for that?
Yeah. I agree. That's what we did with our second house. So our first house was in Sarnia, single family house.
The Core Idea
And then we moved to Windsor and we rented out the one in Sarnia, but the one in Windsor had to be a duplex. We actually did the same thing and it was amazing. Actually, my sister lived upstairs for a bit and now she works with me. So it's kind of funny, but yeah, so we, that's what we did and it works amazing.
So I applaud you and your client for going that way because it's so awesome knowing that you have somebody helping pay your mortgage. So, and then from there, what is his goals? Does he have goals to buy more down the road or is this just to help with his payments?
He wants to invest. He wants to build a portfolio and continue to do this because he's a young guy.
He's my age, 35. You know, by the time he's 50, he plans on having several and then he'll have residual income. So he'll be making four or five grand a month.
Deep Dive
Which is awesome. Yeah.
We're doing nothing. Yeah. Just because he decided to invest in real estate at an early age and then when the mortgages are paid off, he'll be on a beach in the Bahamas just enjoying life.
That's it. Yeah.
I love it. Good for him.
Practical Steps
Yeah. And you could do it on a humble income. Like you don't need to be a millionaire. You don't need to make $100,000 a year to be making these transactions.
You know what I mean? I've seen a lot of buyers that will max out what they can buy on their primary residence and then they've got no money left over for investing. And I think it's smarter to do what your client is doing, obviously because I've done it too, but is to get something like that where maybe it's not perfect because you are renting out half so you don't have that privacy of having your own place, but that's a stepping stone. And if he does a couple like that, then eventually he'll have so much income coming in like you just said where then he can get that massive home that he wants and then the tenants will pay for it.
Not even him. Absolutely. So it's so smart to do it that way versus getting your best home that you can afford and then going from there do it in stages and then you'll get there eventually.
So. Absolutely.
Key Takeaways
I love it. In a couple of years when he has multiple properties and he's doing very well with it and making passive income, his friends are going to look at him like, man, like I wish I would have started when I was your age. I wish I would have listened to you because they might be looking at him like, oh, why are you doing that?
You know what I mean? But I mean, it's going to pay off in the long run. And then they're going to send them to you hopefully, right? Because they're going to say, look, it was Scott who helped me get here.
I don't see why not. Yeah, that's it. I think he's just happy to be at his parents' house for starters. I would be too, especially if he's at 35.
Yeah. Because you said he's your age, so. Yeah, I'd be happy to get at my parents' house at 35.
Resources
Yeah, I think so. Yeah.
Cool, cool. So do you have any other tips or things that you share often with investors or regular buyers just about mindset or just anything in general about buying real estate?
Yeah, there's a lot. I think the first thing that comes to mind is the state of the market right now.
There's a lot of talk. The market's going to crash.
Introduction
I'm just going to wait. But a lot of that you hear from the media and the media is always scaring people.
They scared people with COVID. They scared people with everything.
Yeah. You look at the Detroit news and if you're not around this area, you think, I'm never going to Detroit because of what's going on. But I go down there all the time.
It's safe. I've never had any problems. It's a great place to hang out. And the real estate's the same way.
The Core Idea
Just rates have gone up a couple points over the last six months, but they're still historically low. People are just spoiled getting 1% and 2% mortgages.
It's not sustainable. Right?
So it was just a matter of time. And this has really happened four times in history where the interest rates have spiked up like this. And usually it's taken 17 to 24 months for them to cool down and always go back to an all-time low again for the most part. They go down to a really low point.
And right now, so what's happened is like anytime an interest rate goes low, the prices usually go high. Because people, and you know this, but for the audience out there that doesn't know this, is when you're getting pre-approved at 1%, you can buy a lot more of a house.
Deep Dive
So people are going nuts. So now that they've gone up, prices since March have gone down about 20%.
Okay. So you're having a great deal right now. Yes, you're going to pay a bit more interest than say a couple months ago, but it's still a good rate. And what happens is when the rates go down.
Now that you have a property that bought at a great price and you're going to have a great rate. So it's a really good opportunity right now to purchase. That's, that's one good tip that I always give people. Uh, I do think the market will start to go up contrary to mass belief.
Yeah, I do too. It's a cycle.
Practical Steps
It always goes up. I think even if rates stayed exactly where they are for 10 years from now, let's just say the house pricing is going to up and up and up. There's a lot of demand in our area and in Canada.
So I agree with you fully. Absolutely.
Yeah. There's so many economic factors. Everyone's heard about the bridge and the hospital and the battery plant, the $5 billion battery plant.
And that's not Tesla. Tesla, did you hear that they want to have a battery plant in Canada too?
Key Takeaways
I don't blame them. What are they considering?
They might as well. It was just, they just talked about it like two days ago. And so in the back of my mind, I'm like, is that coming here because of all the other stuff that's coming here? That's the same type of thing.
Probably not. This is speculation, but potentially one is coming to Canada, which is cool. We are the motor city of Ontario or maybe Canada.
So. I'm thinking like we have a good chance, but even if that doesn't happen, there's still a lot of demand and market things that would allow to grow. And even if we're not talking about Windsor and Essex County, right, and we're looking at real estate as a whole, it always goes up over time.
Resources
So I agree. Yeah. And the other point too was the province of Ontario released a stat last summer that southwestern Ontario would grow in population by 35% by the year 2035.
Okay. Largely due to immigration with our politics and the immigration laws.
So many people are coming here. It's a safe place to live.
There are jobs. There will be more jobs. So show me a city with a large population that doesn't have high house prices.
Introduction
Yeah. I don't really know any. So Windsor's is going to continue to grow and grow. I always say that we're going to be like a mini Hamilton.
Yeah. So yeah, I think it's definitely a good spot to invest.
I love it here. I'm never moving. Another thing too, aside from buying right now with investors, I always like to tell them what are the big ticket items?
Top. You know, so yeah, you might get a home at a really good deal, but there's going to need to be waterproofed.
The Core Idea
It's 15 to 30 grand. The roof, it could be seven to 10. The AC, the HVAC, the window, it's like 15 to 20 grand right there. So I like to walk people through and educate them.
That way when they're making a purchase, say if you're doing a flip, it's just, okay, I'm going to buy at this price. I have my closing costs.
I have all my renovations. What's selling in that area that's completely redone.
You know what I mean? So like you have to incorporate all these factors before making decision. Like the worst thing that would happen is I tell my client, hey, this is a good deal. They spend the money on the renovations and then they sell at the same price or they just break even or make five grand.
Deep Dive
You know what I mean? I don't want them to do that either because that's a lot of work, right?
It's a lot of risk. Everything is calculated so it's all about numbers. It's all about research, providing people with the facts so they can make an informed decision.
I agree. And just to share on that, just to elaborate a little bit of a tip too, say you're somebody who is buying to invest or you're going to flip or renovate a property heavily. A lot of times the appraisers or if you're selling it, the clients, right, if it's three months later, they're going to be like, how did the home go up so much in three months?
And they question it. But I find in those properties and projects, if you can delay selling, maybe rent it for a year and then sell, then when you're asking a much higher sales price, people will look at it and be like, okay, they bought it a year ago, they did tons of stuff to it, but we can support the value. There's this just mental trigger when you just add a little bit of time and people think your property is worth a lot more. Do you know what I mean?
Practical Steps
Does that make sense to you? Yeah, absolutely. So for somebody flipping and investing, I think the long game is the best game to make the most money, personally.
100%. 100%. People look at me sometimes, some of my clients that own these properties and they're just like, oh, I'm thinking of selling. I'm like, why don't you just hold on to it?
They're like, what? Why? Because real estate investing, it really is a long game and it should be for the most part.
Yeah. You know, because I've met so many clients that said, oh, I bought this place 20 years ago, I sold it back about five, six years ago. Yeah, I made some dollars, but if I would have held on to it, that property would be worth double what it is today. I hear it all the time.
Key Takeaways
So, if you can, hold on to it. Obviously, certain people are in different situations they need to sell.
For sure. But, yeah, hold on to those investments because you're going to thank yourself one day. And I like that you said that too because you, at the beginning of this, you talked about trust, right? So, you're telling people, well, your commission's online.
Don't list right now. Hold on to the property, right?
So, it goes back to that trusting. I think even just that statement should help build a lot of trust and people listening to this about you. Like, it's a really cool thing that you would tell somebody that.
Resources
Yeah, yeah. I try and be transparent and real. And end of the day, it's like, I want people to treat me like that, right? Whatever real estate I had before, and I would expect them to be honest and upfront with me too.
Oh, that's awesome. Cool. So, let's say someone, they want to invest in the area or maybe they already here in the area with a realtor, but maybe they don't trust them. Maybe they're looking for someone different.
How would they get in touch with you? So, they can reach out to me.
My phone number is 226-773-3162. I am with Team Gore in Remax.
Introduction
So, I have an email. com.
I have a website. All right. So, you can find all of that on Instagram, on Facebook, stop by our office.
Yeah. We'll put the links below too so people can see that.
So, awesome. Thanks for coming on the show today. I'm so glad to have you.
The Core Idea
Thanks for having me, Scott. No problem.
Take care. All right.
Take care. Thank you so much for tuning into the show today. If you found value, please follow the show and rate it five stars. It would mean the world to me.
And lastly, all the resources that we spoke about are at the bottom of the show notes. Looking forward to seeing you on the next episode.
