Brady McDonald
speaker
166 appearances
1 recordings
1 series
first heard Mar 2025
last heard Mar 2025
Brady McDonald’s voice in public audio — every appearance, attributed to the second.
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Appearances
You'll be able, you'll be, you'll be good. Your head, your headspace becomes clear.
dude. And I'm like, all right, well, I'll go to work. And we ended up putting 3.8 million in the bank and, you know, and, and everything was all good.
Yeah. I can breathe. Yeah. Now we can like, okay, we can slow down. We can sell the properties in a controlled manner and whatnot. But yeah, it was, you know, when you look back and you're like, fuck, I wouldn't wish that on my enemy. But yeah, I am glad it happened. You learn lessons. Like the one of the biggest lessons there is that you can't eat your equity. And that was one of the big thing.
We were only in real estate. So we didn't have any cash flowing, like real business. You know, the property's cashflow, like two or 300 bucks a month. And you got jackasses up in Ontario. Like the landlord laws are up there, like probably like New York or California would think. But, you know, you'd lose that cashflow. you know, all the time, very quickly, you know?
And so, but you can't eat the equity when shit hits the fan. And so I'll never do that again. You know, so we're doing it differently now, which is, which is good.
You can't find one big buyer like that. You could, you know, you hit down here, you'd sell your portfolio. You can't do that up there.
Yeah. If the bank was giving out loans, right? Like that was the other big problem. It's just everything tightened up the rules. So you couldn't, that was our option was to sell, but you know, the blessing in disguise was that we've had the portfolio for a while and we were buying right and renovating right. And we, so we had lots of equity.
Um, not necessarily because again, you max out at 10 mortgages anyway. It doesn't fucking matter how bankable you are.
Yeah. So what our strategy is just to liquidate. We've only got 17 properties left and then we're being a U and then we're becoming us tax citizen down here.
Yeah.
Yeah, so when we came down, we got two big storage developments in Houston, and then debt got challenging in 2022. Same moment in time, right? So I syndicated these two big deals, and debt got hard. So we ended up focusing on sourcing the land, doing all the entitlements for self-storage specifically, and then selling the dirt to other developers.
Yeah. And we are still, yeah, that's a huge, it's a huge play. Yeah. So they could be any, anywhere from like 600 to a million in, in, um, you know, value increased by doing the entitlement.
That and just highest and best use.
No, they're all over the U S they're all over the U S all in different.
Yeah. So we cut our teeth in Ontario and understood like in Canada. And so I did all the entitlement stuff myself. And so I just acted as if I was the planning guy. Right. And I went through rezones and did it all. So I understood it. And so down here, like some municipalities are great. Some are super political. And we just learn by doing. Right. I think that is really the only way.
Like there's no fucking blueprint to be a developer.
Right. I mean, if there was, we'd all be super rich. Yeah. Right. But you just go in and you just have to know what the right questions is. And at the end of the day, you have to trust but verify. And that's the biggest thing. I think you just like the processes aren't overly complicated, but there's nuance between every municipality.
And the big things that can catch you up is the political structure. The relationships. The relationships. Sometimes like some municipalities are just straight by the book. They'll just, you know, this is the way it is. But some of them, some of the other ones are like, if you don't get approval by this council person or this person, don't even submit the paperwork. I'm like, wow. Right.
So we went to a couple of these states, a couple of these places in North Carolina or sorry, in Virginia. And it's like, it's not happening. It's not happening. It's not happening. So yeah.
but other other municipalities you have good conversations and and and the one big thing is like people want to know what you are building and make it look nice yeah and storage has a horrible rap right to you know people hate storage for for the most part because they look like the garage doors so we're showing them nice class a modern apartment like looking facilities whether they're single story or multi-story you can make them look nice and we get approvals so
Showing 61–80 of 166 · page 4 of 9
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