00:00.66

wongga

Welcome investors welcome to the podcast. My name is Garrett Wong your host today I'm going to be spending some time with Dakota Sharon a local real estate investor but he's also found in a networking group which we're going to hear about more during the podcast Dakota welcome.

00:03.46

Dakotah

Save that slide.

00:16.85

Dakotah

Thank you Garrett! Thank you for having me so Garret I'm so sorry you're gonna have to rerecord this I think i.

00:19.58

wongga

So why don't we start off by letting the audience know a little bit about yourself. What's your story and your background.

00:31.61

wongga

Why.

00:36.65

Dakotah

May have stretched the mic a little too far and it started falling down and I was gonna hold it and I was like I I won't be able to focus on this interview if I hold it I came as prepared as possible. Give me one second I figured I'd stop you right? then? Oh why it didn't hold.

00:42.21

wongga

Okay, no problem.

01:11.86

Dakotah

Um, okay, that's as tight as it's ever going to be. It's not going to move.

01:15.86

wongga

I Can just imagine you watching it and it's just slowly sinking down.

01:18.10

Dakotah

Oh it was it was ever so slow and I was like what's okay and then I could see the desk and it's starting it. It came a little bit loose and started falling I was like oh boy. Okay well I'm good now. Everything is is is ready.

01:28.27

wongga

Yeah, no I want I want you to be comfortable. Okay, so what I'm going to do because the recording is still running is I'm going to clap 4 times and that's going to give an audio spike so my audio team can know that's a point where they can edit everything before that.

01:37.44

Dakotah

Cycle it's going to click sometimes 4 it's gonna be.

01:46.15

Dakotah

Everything. So.

01:47.98

wongga

Okay.

01:53.43

wongga

Welcome investors my name is Garret Wong host of your podcast today I'm spending some time with Dakota Sharon a local real estate investor but he also founded a networking group which we're going to hear about more during the podcast Dakota welcome.

02:09.57

Dakotah

Thanks for having me Garrett I appreciate this. So maybe I'll start with my story and then discuss the background. Ah.

02:10.41

wongga

I Appreciate it very much as well. Why don't we start off by having you tell the audience a little bit about yourself. What's your story and your background.

02:27.10

Dakotah

26 years old have been doing real estate for about 5 years I've always been interested in real estate and architecture and homes and and anything in that kind of realm whether it's design and and you know those types of things and so from a very young age I'd always been interested in art I'd always been drawing homes looking at homes. Throughout my teenage years I had been driving down streets fantasizing about homes and I quickly realized that that needed to be the field and industry I needed to be in in some capacity so going through high school I determined that you know my success story would be creating an architecture firm move to Bc and do some very cool custom homes and. Had it all planned and I had it all laid out and within my first year of university I decided that was not going to be my path so I had reflected on kind of what my interests were and and they went right back to you know the the housing industry if you will and I recognized that I had an interest in real estate investing. So as most people do you pick up a book. You attend a seminar you learn a little bit here and there and I quickly realized that that was the industry I wanted to be in now. That being said I didn't jump right in immediately. So I dropped out of university at the time I started a lawn care business and. Only had grown it for a buddy just over a year at the time and throughout that I had actually penetrated the real estate investor market. So I had I had done a lot of work for investors through that business and I had met 1 of our clients.

04:00.86

Dakotah

At the time and he was a real estate investor of course throughout the winter I had slowed down shut down the business and I had a proposal from this gentleman to essentially come work for him and so. I made the decision throughout the winter to do exactly that and come spring I had a tough decision to make on whether I was going to try managing this business sell it or just shut it down completely or do both and at once and at that time I had a prospective buyer that was coming in from outside of Winnipeg. Had approached me and I made the decision to sell that business and go into real estate full time with this other gentleman and fast forward. It was about 2 years we had done a fair bit together. I was very young at the time a lot of things took place and we we ended up parting ways and upon parting ways I decided to go it on my own and start my own. On real estate venture if you will just before that parting of ways as well. I had founded what was called the Winnipeg Investors Club it was very casual. It was a group of about 18 of us 16 to 18 of us at an Earl's and um very very casually and upon a year it it grew tremendously and so we had we had positioned it as what was called the Winnipeg Investors Club and then later was rebranded and transitioned into the national real estate investors community. So that's a little bit about my story and I forget the other question you had for me as well.

05:24.95

wongga

No, that's that's amazing I mean it's very interesting I think anybody in real estate that I know anyways didn't start off in being real estate I Mean you don't graduate high school and go well. Some people do I'm going to be a real estate investor. We all have different stories mine with science.

05:29.90

Dakotah

Interesting I think. Know what is do to or estate printing such a content.

05:40.58

Dakotah

See to storage space.

05:44.48

wongga

Um, so but what interests me in your answer there is you started off with a business so that entrepreneurial spirit was already there and then you naturally followed your path into real estate. Um, so that kind of answers. You know that question I was going to ask. Why did you get into real estate. But so you know you mentioned Winnipig Investors Club I have a memory of that you and I first met I believe when I I found that club on Facebook a few years ago um I remember very clearly you made me qualify if I was a legitimate investor.

06:13.00

Dakotah

Let's say look at.

06:19.65

wongga

And then shortly thereafter I went to a networking event. Um I Really want to dive deep into networking I mean you kind of just said you founded this you know win a big investment Club National Real estate investors association.

06:26.27

Dakotah

You cannot just so difficult some still stress So so use can.

06:33.94

wongga

What do you feel defines networking specifically pertaining to real estate investors.

06:39.97

Dakotah

I think it's being in an environment that ultimately fosters people helping people reaching their goals providing solutions and and finding the opportunities that one's really looking for I think at the end of the day. That's what networking is about and it can take shape in. And a coffee meeting a phone call conversation a Facebook message or an event that that fosters that environment.

07:02.42

wongga

Okay, so I mean obviously I guess maybe not obviously I know when I'm I'm also a real estate investor in just trying to find whether it's deals or. You know, ah investors that can come with capital joint venture Partnerships You can find those those leads from anywhere but you chose to kind of and maybe I'm putting words in your mouth get your own environment create your own group was that sort of the motivation behind this or was it just.

07:24.55

Dakotah

Sales for with with guide.

07:32.85

Dakotah

So consumption like it's funny. Most people think that I did want to start this and in fact I didn't I Wish there was a group like this that I could just be.

07:36.79

wongga

You wanted to get some people together and see what would happen.

07:49.11

Dakotah

You know, attending these events attending this environment having these resources. It was about a year after I had been in real estate I've been in real estate for 5 years coming this january I'm 26 so I got intuited about 21

08:04.26

Dakotah

When you asked me about my story I had I had sort of illustrated this picture that most investors go through and it begins with seminars. Um, you know they have these these shows that come into different different cities occasionally in various different books and what I found was that space was great. It. Opened my eyes to a lot of different things but I had already been experienced to some degree having been in real estate for a year full time already. Most of that environment is about teaching people how to get into real estate and not so much how to grow their existing real estate business or how to put themselves in a room with. You know money resources opportunities connections those types of things and so I quickly recognized that I wanted to be in a room of you know active investors investors that I could help contribute to their success and for them to be able to contribute to my success. At the end of the day I would like to say that all I wanted to do was give back to these investors but I'm also in it for myself and so is every and other investor we want to grow our own businesses and so I looked you know at the time I I didn't know what this vision looked like all I knew is that I wanted to be in a room like I described a room that had opportunity. Had active investors qualified investors where I could walk in and I could walk out with something and also contribute to their success and I went looking for it and quite frankly I couldn't find it a lot of the groups would potentially have a portion of networking or something to that effect.

09:32.61

Dakotah

But I always found that there was some form of coaching there was some form. Of course there was always a pitch and not that there's anything wrong with that and not that there isn't a space for that because there certainly is and there's people that need to learn and need to be educated. It just wasn't necessarily the space for myself and I'm sure it not. It may not be the space necessarily for people who are advanced already and so. I looked for it and I couldn't find it and so that's why I say it quickly it quickly started with you know, an Earl's Restaurant there was I forget the exact number it was between 16 and 18 people and that was a group of people that I put together that I knew would have money and people and and deals and and resources and it quickly grew and I think it grew because I was qualifying people. Um I didn't have the vision that I do today and I sure didn't have the vision back then to form an organization such as it exists today. It was really just being able to put a group of people together. To grow our businesses and here's where we are today.

10:30.82

wongga

Yeah, it's very interesting I would say like I've attended some of your events and they're fantastic. Um, what is really quite unique is that you know you're putting like with like right like-minded people like-minded experience. Um. And like attracts like so I can definitely see where you know somebody who's just wanting to get into real estate attends. 1 of your events and sees a lot of these successful investors. Some people have between you know 10 and some people have 20300 units and there's all its experience there but sometimes somebody with 200 units wants to have a good conversation with another person who has a thousand units because they want to learn and you've you've created that environment um quite amazing.

11:10.47

Dakotah

It.

11:16.13

Dakotah

Thank you I envision it sort of I don't know if there's a picture but I picture a meme or or some sort of you know inspirational quote but there's somebody kind of in the middle. And somebody is above them picking them up raising them up and then that person's also putting their hand down to somebody below them and that's what we're trying to create with this environment right? Is you've got people that are just beginning that have maybe 1 deal under their belt or a little bit of capital and then you've got people with you know, 2 3 hundred units more than that in certain cases and we want to continue to expand that so that no matter what place you're at you're either helping people and we try and and encourage and ensure that people that are that are a part of this community. Do give back and do provide value. It's not just a 1 way street where you're taking taking taking and we try and ensure that that takes place within our community. So. Naturally, you can give back. But there's also a place for you to learn and grow.

12:10.69

wongga

Yeah I I couldn't agree hundred you know 100% I think I don't remember where I heard the quote and I'm probably butchering it. But um, it's something to the along the lines of you don't want to be the most experienced sort of the smartest person in the room if you want to truly learn.

12:23.53

Dakotah

Thank you correct? Yeah so.

12:25.77

wongga

Because you want to learn from others. Yeah, so let's let's ah, let's talk about networking itself. What kind of benefits can people get by networking versus going on the internet and watching Youtube videos.

12:41.60

Dakotah

I don't want to be that guy who repeats the same quote that everybody else probably repeats when you ask this question but your network is your network worth? Um, what I found is that you know if you've got a network of of great people around you. The benefits are are limitless. Essentially because we can get benefits through various different resources whether it's Google it's courses. It's coaches. It's it's books. It's all these areas but you're still limited to some degree as soon as you've got a community of people or a network around you. Networking itself which ultimately creates what I'm describing then you've got everything you need at the end of the day. Um I've put myself around great people that are experts in the areas of their field. Their respective fields and industries and I've got a great group of friends and I've got a great group of investors. And I know that I can count on them at any time when I've got a question when I'm in need of help when I'm in need of a resource and it could be as simple as hey Garrett I need to educate myself on this what book would you recommend. And I've I've shortcomed in the need for research I've I've saved time I've saved money money in the form of of time I've gained a resource quicker. Um, so to me, you know I might be answering it in ah in a way that you probably would like to see specifics broken down but to me, it's really anything anything you desire.

14:04.50

wongga

Yeah.

14:10.62

Dakotah

Can come from your network provided you you build a strong network and that's the important element. But once you build it and you can continue to build it. It's limitless. You set.

14:19.35

wongga

Yeah I've attended some of these networking events and you know it's it's interesting because you never know who you're going to shake hands with you never know who you're going to meet and I've been to a lot of conferences and I used to be 1 of those people who would just attend the lectures.

14:27.28

Dakotah

For 13

14:37.64

wongga

And not go to the networking part but literally like you might pay $1000 for a conference and you meet that one person that gives you that one piece of advice that blows your mind and sends you off into that critical pivot in your real estate career and it. I Mean that that's what networking can do and you you're right? You don't know where that's going to happen.

14:53.30

Dakotah

Devil done something you can't do you. Absolutely so depart from just so first things first.

14:59.66

wongga

So quite often people may feel. It's not worth it to go to an actual networking event. What would you say to them and what could they be missing out.

15:15.33

Dakotah

You know at the end of the day I've I've probably got 2 trains of thoughts and I think the first one would be It's probably a mindset issue right? The moment that's your opinion whether you're attending a networking event or you're not or perhaps. You know your thought is I don't really want to go to this networking event. But I'm going to go and hopefully I get something out of it the moment you have any of those thoughts come through your mind you've already lost and and lost in the sense of of the game of walking away from a networking event with something valuable. Um it. It really is a matter of changing. Your opinion. Yeah I'm I'm just trying to figure out why it's coming through.

15:53.18

wongga

Just repeat that whole sentence. It really is a matter of.

16:06.92

Dakotah

My computer is on do not disturb So that's weird. Okay I'll repeat that whole sentence. Sorry.

16:15.23

wongga

Um, that's what editing is for.

16:18.86

Dakotah

I know but I like to be prepared and I don't like to have that happen. Okay I'm just gonna try 1 other thing here. No, that's not gonna do it. Okay, well hopefully it doesn't happen again. Do you want me to clap or something gonna try.

16:38.25

wongga

Doesn't matter.

16:41.22

Dakotah

So I have 2 thoughts to that question I think the first one would ultimately be the moment you have the conclusion that you. Don't want to go or that that event might not be worth it or I can picture it. You know you're putting your suit on to go to a networking event and you're you're chatting with your significant other and you're like ah I don't really want to go hopefully I get something out of it. You've already lost you've lost in the game of. Looking for opportunities of finding the value because your mindset is not there and so I think anybody that's going to a networking event needs to change their mindset and that being said, you know that brings me to my second point which is it only takes 1 thing. Literally 1 thing one opportunity 1 connection 1 nugget 1 introduction. That's all it takes and sometimes you might get 1 of those at every networking event that might not change your life but eventually you might get 1 that might be that 1 contact that completely revolutionizes your business your business model connects you with an investor and I think I want to remind people as well as that when you reflect on having attended an event networking specifically.

17:56.58

Dakotah

You may not see your results or the fruit of your labor of attending that event immediately so you need to be able to continue to build upon what you've taken out of that event whether that's a connection a resource. Because what I've quickly learned is that even though somebody might be at an event you might have connected with them each one of those people has their own network and so every time you connect with 1 person you have to recognize that. Not only are you getting the network that's at this event. But with each person you're getting another network another network another network of people and if you can do a good enough job at bringing value to that event to that person in all likelihood. You're going to receive value back and although you might not receive it at that event you could ask them and they might have access to whatever you're looking for in their network as well. And so naturally. Time after time and over time those opportunities will start to really come and they'll be quantifiable. So so.

18:56.95

wongga

Wow, That's ah I took away quite a few things from that I have to admit ah to my lovely audience I was I am that guy sometimes I I was that guy I guess I go to a networking event or I again at a conference I'm tired I want to just hang out my hotel room. And eat some room service and you drag yourself to the event and you know I'm a very shy person by by Nature. So for me to stand in the corner and not do anything. It's ah it's pretty easy. But I think um I've I've approached it like.

19:22.10

Dakotah

So and.

19:33.30

wongga

Kind of like purposeful work right? You go to a networking event. There's a purpose to it. You want to shake as many hands as you can I've gotten to the point now where I I collect these business cards Obviously business cards are being exchanged. But after that I'm taking a pen and I'm writing on the back of that business card. Um.

19:33.42

Dakotah

Courage it acomp to active to.

19:43.49

Dakotah

Business comes sickness has comes all of. Private business card.

19:52.68

wongga

Who that person was what I got from them What the conversation was and that I'm taking pictures of all of those and they're in my camera role so that when I go back I Sort of have a informal rolodex if you will and that's served me fairly. Well.

20:06.73

Dakotah

Yeah I'll be honest I don't really collect business cards and I don't hand out business cards. But I I heard of somebody sharing a similar strategy and what they recommended is use your phone in I know with iphones and probably samsungs as well with each contact There's a note section. And what they recommended is is every time you have a meeting with that person note something pick up on something even if you've met them at 1 event and they told you that their dad owned a trucking business. For example, it might not have any relevance to you today. But then when you come to the time where maybe you're doing an infill project. It's your first one and the guy you hire to deliver gravel all of a sudden isn't showing up. You just search in your phone and then that guy that you met at that networking event that you didn't think had any value for you. All of a sudden you're calling him and you're saying hey can you connect to with your dad I needed you know I need a. Ah, person to haul some gravel to get this infill done and you just search gravel hauling whatever in your phone and there it is and then a year later two years three years later, you've had that connection made and then building upon those relationships as well as saving things like their daughter's birthday their own birthday. Whatever that you might be able to comment on pick up just 1 thing that you can call them a year later hey I remember at the event you told me you had this goal and and you were looking to get your your second project that you had conditional. Did you get that deal done. How did it go relationship is instantly built.

21:31.18

wongga

Um, yeah, well um I had a previous interview where we were talking about relationship building and that's really I think that's the 1 constant in real estate.

21:37.60

Dakotah

But going from build.

21:45.37

wongga

Ah, whether you own a property whether you're a property manager whether you're a realtor that relationships is that commodity that we're trying to foster here and it's not going to go away. You cannot have ah well you can't have a networking event without people. So so.

21:51.80

Dakotah

For.

21:59.40

Dakotah

With no no.

22:04.57

wongga

Let's talk about networking events you put on quite a few um some of them are are very upscale I've even seen during during Covid you put on some digital ones. Um, what's the ideal frequency you would say for a meetup or networking event. How much is too much and what's not enough.

22:18.63

Dakotah

But well I wish I knew because I'd be doing it. Um, you know for us personally at one point we were doing monthly events.

22:31.12

Dakotah

Those would be monthly in-person events now we actually do about 18 to 20 events a year usually between 6 and 8 in-person events a year and then we have 12 keynote sessions which are online events with speakers I can't really tell you what an ideal frequency is from. And I'll speak to this on 2 points maybe somebody who's starting up meetups or networking events might be able to take value from my my first point which is it's a fine balance of understanding how often is too much and how often it's just enough that people want to be at every event every single time. That's the balance. We've been trying to identify because. You know we don't want to be in a position where if we have an event every single month. Everybody's looking at their phone and going you know what? I'm not going to go tonight because I got you know I'm going to put in an extra 30 minutes at the office or I'll catch it next week or I'll catch it next month and so we've tried to do it in such a way that. There's enough time between each event that people are like well if I don't come to this one I'm not going to be able to catch it for another month two months um I don't know the answer I paid a consultant three hundred and fifty dollars to tell me that answer which is I need to be hosting less events. So take what you well from it I will say that since we've made that that change we have seen numbers increase each time I think our last event had over just over eighty people there. So am I doing it right? I have no idea I hope I'll get that answer to you one day.

24:05.53

Dakotah

For people that are looking to network in and of itself I also don't know I think being able to stay in touch frequently is the important element building upon those relationships is the important element. Networking can be done in in many different ways right? You've got the networking event itself. But sometimes I think one touch point a week is my opinion. Um, if you're really building a relationship a quick text message once a week and then a you know a coffee meeting once every couple months maybe once a quarter. And then you see them frequently at networking events that's kind of my my opinion because people's lives change from week to week in real estate. You know you might talk to I I teach this to my team. Um, who do realtor calls I don't do them anymore. I've got I've got somebody who does them for me. But I tell them you got to be following up. Once or twice a week because you might call the realtor on Monday afternoon and they might be like I have nothing for you and then they get off the call and then they get a call hey I'm looking to sell my house I got your flyer. It's a fixer-upper and they might not even think of you so when you follow up with them the the following day or the wednesday. There's that opportunity and that's naturally what happens with real estate people are inherently lazy whoever they've got that they've got the most recent conversation with that's likely where the deal's going. So.

25:26.52

wongga

Interesting I mean I think what you're trying to do is just provide value wherever it's going to appear. Um, you know your your online events.

25:32.95

Dakotah

Commission your traffic.

25:39.23

wongga

They're attended well as as well and they're not really supposed to be networking but I I have been there where I've seen the chat box going on the side of the Zoom while the speaker is going and people are hey how's it going hey I want to speak to you after I've got a deal for you like it's very interesting because I think even seeing somebody's face in a Zoom meeting.

25:44.61

Dakotah

Out Softu Cru have an add company speak you know free want keep some release in zone and from something.

25:58.47

wongga

And you're not even shaking their hand prompts something at the back of your mind saying hey you know what I remember meeting that person at last in-person event I've got something for them right? It's It's all these little reminders and you don't know where it's going to come from so your events.

26:07.15

Dakotah

Something things sort something to correct. Yeah.

26:17.81

wongga

Um, are quite unique, um some of them. You know you've hosted at fort gary you know the Manitoba Club how much value do you place on the experience of the attendees. Yeah, and and do you think that impacts them coming to your next event.

26:34.40

Dakotah

Yeah I guess you want me to answer that as the founder of of NAC right so okay I just wasn't sure whether you were asking me more so for from an like the listener as a potential attendee so again, you know this could be for anybody. That's.

26:40.77

wongga

Um, well that's the experience.

26:53.76

Dakotah

Hosting events or whatever. But do you think that that impacts them coming to your next event. Well absolutely um, you know we as a founder of Andrac. We've hosted I think we just did the numbers I think we've hosted 44 in-person or 44 events so far. Um I think those are our numbers if I'm not mistaken so you know that's several dozen events that we've hosted and we're going to continue to host dozens upon dozens of events into the future. So. The first thing is I wish I could tell every single one of our attendees you get what you put in.

27:30.96

Dakotah

Like if only every attendee would come to our events and do 2 things deliver value and know what they want to take from it and they communicated that with the group and the people they meet. It would be easy. My job would be easy because I put people in a room. It's just simply not a reality right? So myself as a founder of these events. Or or the community and sort of the visionary behind these events I guess I have to really ask myself. What does a successful event look like not to us as an re I c but to each member and how do I make it valuable to each member and how do I make their goals. You know. Each member's coming with a different a different need a different goal. So how do I try and provide a space for as many of those members to walk away meeting that goal or that desired outcome. So naturally we have to be able to create the environment. It's you know we we do event introductions at every one of our events so we have everybody basically you know get into a circle and we pass a mic around we have everybody do a couple things 1 share their name evidently to what type of investor are you or do you specialize in burr multifamily new builds etc. And then either what are you looking to get out of this event. What is the 1 specific thing that you absolutely need to get out of this event and 2 potentially they're not looking to get something out of it but they have something to offer a deal capital and what that does is that instantly starts to create these connections.

29:04.33

Dakotah

At the beginning of our event rather than searching through a room. So I know that networking those connections are what people are there for do I know that somebody is going to speak to everybody and shake everybody's hand and say hey I'm you know I'm Dakota I'm looking for x do you have x o and here's what I have to offer no. They're going to go probably mingle with their closest friends that they know already they're going to naturally find their comfort zone and so it becomes my responsibility and my obligation to create a space for that value to be you know to be successful and on a second on a second note as you mentioned I've seen a lot of networking groups. They host their events in boardrooms I've I've seen them hosted in gyms I've seen them hosted in. You know, like community clubs type of thing. And that's probably more educational but I've seen people host networking events there too hotels those kinds of things we really focus on trying to offer something that's much more unique so much more unique venues. Um, you know we we offer valley parking in certain cases to our. Certain members. We call members before the events depending on different tiers and levels what drink do you want at the door for yourself this evening. You know these extra little elements of of experience.

30:31.64

Dakotah

Not only get people to say that was valuable but holy Cow What an incredible experience I Want to have that feeling every single time because it's to me my opinion is it's not, You're not going to well you might keep going back for the value but the value doesn't necessarily create an emotion. The emotion is created through the experiences of potentially feeling like you're valued. Ah you're Special. You got to dress up so now now you have that emotion of looking and feeling Good. You got to shake hands with somebody that you know is potentially way more. Um, successful than you. Whatever you defined as success. Maybe it's more units So That's my answer experience.

31:17.89

wongga

Yeah, no I I would definitely I think building on that experience keeps people coming back. That's in any business. Um, and you know I think your previous entrepreneurial journey has primed you Well for this Networking. Ah group because you are you're you're treating it like a business. You're not just trying to get some people into the room you're treating it like your mission is to provide an environment where people feel Comfortable. You're filling the room and that's just going to lead to more and more of those little sub-networks that you.

31:44.24

Dakotah

True for and people filter something. So.

31:53.28

Dakotah

Yeah, and it's It's really not easy and no matter how much we ask for feedback. We always let our community members know tell us what you want and we'll put together a team. We'll put together the resources we'll build it. That's always been my mentality.

31:53.54

wongga

That you talk about.

32:12.92

Dakotah

So from experience to value to any of those things you know you have to knock it out of the park first impressions last but it's not easy to It's not easy to be successful and a lot of I've just found that a lot of people don't necessarily want to leave feedback. Um, a lot of people won't tell you what they actually feel. Took place at your event and so you have to try and identify those things and just keep investing resources time creativity in just knocking every event out of the park time and time again.

32:42.50

wongga

Well, they're certainly well attended So you're doing something right.

32:48.88

Dakotah

I appreciate that you won't say they're not well attended on a podcast interview. But um, yeah I mean hey we had 80 people at our last event for for Winnipeg. So I mean it's it's all right? It's good.

33:01.51

wongga

Yeah, probably not where you've envisioned it. But that's okay, um, you know there's There's a lot of experienced real estate investors that might feel a networking event won't work for Them. You know again I think we touched on this but because they're experienced. Let's go over that again and and sort of dig a little bit deeper. How can they benefit.

33:20.40

Dakotah

Well once again, all it takes is 1 right? If you have the mindset that it takes 1 individual. It takes 1 resource. Maybe you have a problem that you're trying to solve. You could go to Google you could spend hours researching it or you could walk into a networking event with other successful investors and just pop the question and say hey I need help with x and then you've got several different ideas right? then and there so it's a matter of changing your opinion once again and just reminding yourself that all it takes is one. So if you can come with a purpose and no crystal clear what that purpose is and just don't leave the event until you find it if you got to shake 80 different hands and you're there for 3 hours and you walk out with it. You were there for 3 hours it was 3 hours of your time but you got the 1 thing you needed. Whereas if you're not purposeful about it. You're never going to walk away with anything and myself as experienced as I am I know that there's always something more to learn There's always something I can do more efficiently There's always something I can do better There's always something I can a way for my business to be more organized.

34:19.19

wongga

Right.

34:36.26

Dakotah

Ah, software a system like there's just dozens and thousands upon thousands of little things that you can get from talking to somebody on the street or a networking event wherever it might be so no matter how experienced you are and I think I talked with. We had thatch Newian I think is the last name he's quite popular in the us he came and spoke for us and I forget what the saying was precisely but it was just summed up as you know as soon as you stop growing. You're essentially dying. It's. In whatever space in whatever capacity right? if you stop working out or you stop exercising and you sit on a couch for days upon days. It's going to be a very quick and unfortunate. You know health decline and so that's the same idea right? You might be positioned well in your business but the moment you stop thinking that. I've made it or I don't need to go to networking events because there's nothing more for me to learn. You're going to quickly realize that after a certain period of time you're going to be looking up at everybody else. That's far more successful than you because you sat around thinking you made it and you stopped growing. So.

35:45.88

wongga

Well exactly markets change I mean you look at the current real estate environment. We're in right now at this particular time with the high interest rates things are fluctuating constantly. There's new tech that's coming into the space. There's things that people are doing differently.

36:02.15

Dakotah

Message Consult business or government. So like so they comes to to improve your business exactly and so I would just tell people.

36:02.62

wongga

And anybody in business. It doesn't matter whether you're a dentist or a doctor because those are still businesses or you have a real estate business or you have a restaurant you constantly have to innovate you constantly have to search for that next greatest thing to improve your business.

36:21.94

Dakotah

You know that are that are experienced and they may not want to attend a networking event be selective of the events you attend know who your potential audience that you want to be surrounded by is and make sure that you attend events that that have those types of people there and. Bear in mind once again that the fruits here labor won't show up at that event necessarily but they may come if you're strategic about the way you take notes the connections you build delivering value first. So that people remember you rather than you just remembering them and. Relying on your network is certainly 1 component but sometimes if you're not actively growing your network. You may be limited to some capacity or you'll grow to a certain point and you're only as good as as the network you've built so you always want to be continuously building upon that network. You've got the same 5 friends you've had for the last. You know, 15 years in business. You guys collectively if you're not building additional networks and and additional relationships. The 5 of you are only going to be where you know one guy got here the 4 other got here and you keep kind of raising but you're only going to be limited by that that specific group. So you always want to be networking with new people. New building, new relationships.

37:39.54

wongga

Yeah, very interesting I mean we we keep saying that buzzword business. You know, um, let's talk about entrepreneurs for for a bit here. You know like what are the things that.

37:41.82

Dakotah

Confused different 1 business.

37:47.11

Dakotah

Form.

37:51.55

wongga

You would look for and I guess a good entrepreneur or the red flags that make a person a bad entrepreneur. What's your opinion on that.

38:01.72

Dakotah

So yeah I guess characteristics attributes. Well, it's an interesting question because immediately I start to think of the people that I think are successful when I realize that sometimes people. You know, organized came to mind but then you hear of people that are ultrasuc successfuls and they run around and they got papers flying all over the place and their vehicle's a mess so it's hard to describe necessarily but you know one of the things that I've always said that defines myself personally. Being in business is is creativity somebody that's willing to be creative. Businesses are essentially created out of absolutely nothing and then they have to continue to grow and serve. And they're always changing and so being creative I would say is arguably 1 of the most important things a relentless work ethic being able to get punched in the face time and time again go through heartache get back up. Go back to bat contemplate. Whatever your. Your mind might contemplate um, all kinds of awful things. Dark places. Um, so resilience you know I did say organization I've seen countless people grow to a certain capacity not being organized and they can never.

39:15.15

wongga

We've all been there. Yeah.

39:30.14

Dakotah

You know they get to a certain point where now they can't get past where they've they've gotten themselves where they've gotten themselves into a bad place and now it's a never ending battle just to get out of what they've kind of built to get out of the hole they've dug themselves so to speak and I've seen a lot of people just do that through lack of organization. So I would say that that's ah, an important element passion similar to resilience I suppose but passion's an important element nobody will ever I shouldn't say nobody will ever. But if you're starting a business. Your family's not going to believe in you your spouse is not like not likely going to believe in you, you're going to have 0 customers believe in you your service or your product. You're not proven so you have to be the most passionate person both to the public's eye to your team and to you personally. Because you're going to be the only person who believes in yourself and what you're offering until at some point that changes where now you've start to build a following a customer base belief from your spouse your family significant others. I could probably go on and on. But I think that those would be some important ones? yeah.

40:41.76

wongga

Yeah, no that resonates with me as well. I mean well I'm in business I mean you you face really really tough times. You wonder why? the heck you're doing this. Why don't I just go out and get a 9 to 5 job but the passion keeps you driving through your dreams right. Um, but yeah, let's let's talk about failures for a second because I think failures teaches us to recognize success. Um, what business failure did you learn the most from.

41:17.51

Dakotah

Oh um.

41:24.10

Dakotah

Ah.

41:28.52

Dakotah

Well going back to my story I had I had worked with somebody who became a partner and then parted ways and you know I learned so much through that. But I think what I I ultimately learned and I think why it plays such a critical role in my life is that. I won't go into detail necessarily because our our community is small where where we're from locally but I was faced with having this individual at my wife and i's wedding and within the span of a couple months had seen a completely different character and. We had basically taken all of our accounts to 0 we had spent money in various different places on behalf of this individual that meaning pouring into their business and and other places that weren't ours and um, that would have been the most interesting time for me because. I had to basically come to the point where we made the decision that we're going to attack the biggest problem that we've faced as as a couple and I would say that personally as well because I knew it was going to be coming a potential lawsuit and. You know all these other things that were kind of coming behind it and we knew that in this moment I could choose to stay where I am and I might be okay I might be comfortable I might have a path or I can burn the ships and basically start from ground 0 right? after having been married thinking that.

43:02.42

Dakotah

I had to be a man in this new this new marriage relationship be the provider be the you know the the hunter the go getter and I had to look at my wife after my new wife after a couple months and say yeah, all of our plans. Everything we had thought all the money. It's all gone and. We're starting from scratch and that was the hardest 1 of the hardest decisions I've had to make in my life but it was the best decision and that taught me so much about again resilience being independent betting on oneself. Um numerous other things and. Throughout that journey at a young age. It taught me how to look at people's character business partners being organized always having a paper trail always doing everything legally you know so many different things and and yeah. I would do it time and time again I would go through that a thousand times over if I could as hard as it was because it's really shaped me to be who I am today. So.

44:06.34

wongga

And what's funny because you you spoke about networking and meeting people collapsing time and I believe you said you're 26 26 years old um learned some really hard lessons very early on how old would you be if.

44:14.90

Dakotah

Correct. Yeah, so.

44:24.13

wongga

If you hadn't sorry, let me rephrase it might take you into your 40 s without having those failures those hard lessons before learning you know and maybe shaping your business to wait I mean it collapsed time for you I think would you agree.

44:30.67

Dakotah

So things is appropriate.

44:37.37

Dakotah

Yeah I mean and and to that point I used to fear problems I used to fear those types of of challenges and I would say that mindset is is most oftentimes most people's. Biggest weakness certainly for myself and I know that countless other people you know it's the voices that run through our heads. But through that being able to tackle that and being able to tackle new problems that are bigger more challenging today and and probably will continue to be more challenging as I grow and. In my development I'm grateful for those challenges and at some points I may be in a position where you know maybe descriptive but I want to put a gun to my head but I know that I'm going to go to sleep that night I'm going to wake up the next morning I'm gonna I'm gonna. Take my very best shot that day and I'm just going to go back to bat I'm going to go back to the so-called war day after day and eventually I know that I'll win and it's because I don't have any other option. this is this is what I've set forward this is where I'm going and so I see every problem as an opportunity. I see every problem as something to be grateful for so long as we have the right mindset and right attitude and I'm still working on that you know I think everybody does um but I can tell you because of that that problem that story or or that journey I'm far more resilient.

46:14.48

Dakotah

Like at this point anybody can try taking me down and I know that they're not going to be able to. Yeah.

46:19.58

wongga

Yeah, that's wonderful. So before we wrap up here. Um I Always like to ask every guest on this podcast this question and I'd like to hear what you have to say as well. Um, so this is the win podcast.

46:26.30

Dakotah

Since quite ceremony. Do you going to fall so point that what for you? Well I'm a visionary.

46:34.35

wongga

How do you Define success and what does winning look like for you.

46:45.88

Dakotah

I've been described as one anyways. So I could tell you I could paint a beautiful picture of what success looks like materialistically Character. You know all these different things. But I don't think that's the point. So for me, you know. Right now I would I would say that I'm not successful. Some people might define certain metrics as being successful certain income as successful but you know I'm working on building an empire with both N Re I C and with R a holdings group my real estate company and there's a certain empire that I Describe. With Metrics by 2033 but to me and I'm going into more detail right now and I'll I'll get to my conclusion in a moment Very briefly. But you know I want a team that is working to earn enough active income to keep our lights On. To have you know a manager that's developing the business that I don't need to be in the business every day and that will continue to fuel The company's growth year after year whether I die or I'm alive or whatever and then on the holding side I want to have enough profitable assets that are in our you know. Possession that provide enough cash flow to essentially fund my lifestyle and ultimately by 2033 I Want assets paid down personally I want to be in a position where I can work on passion projects because I feel like it Maybe I'm going to bet on myself and say.

48:16.27

Dakotah

Hey, if this goes well I'll make a million dollars if it goes bad I'll lose $5000000 at the end of the day this is a passion project I'm going to do my best at it. Um I want to be able to take on much larger projects. Philanthropy um, you know n re I c is a not for profit at the end of the day I do it for the community. Um, but in the future we want to build self-sustaining communities globally so you know in 2033 I want to be in a position where I can choose to work as cliche as that sounds and I think that everybody calls freedom that but I know what that looks like and so I want to be able to decide what I do when I do it I want to be recognized as a leader in my home as a father as a husband in business. All those areas and I believe that that's done through being able to be there for others to support others and not have to go to work every day not have to say. You know? Yeah I went into business for freedom. But I think most of us realize that business is not freedom and we're very attached to it and we don't oftentimes get to decide when we go to work because at the end of the day problems. No matter how big your team is will end up escalating back to you and so. That's what I define it as I don't know if I explained it very well. But I want to be able to wake up each day and just go my business is operating my family's healthy. My family's provided for I don't have to choose to work anymore and therefore everything I do is to give back is to be.

49:44.89

Dakotah

Doing things that I'm passionate about doing things that I enjoy doing real estate things that yeah I enjoy I'm passionate about so.

49:54.70

wongga

Well said, no, that's ah, very eloquent. It's ah you've defined it. Well you you just want to be able to have everything on autopilot so that you enjoy the you know the things that you want to be able to spend your time on purposefully so I love it.

50:06.20

Dakotah

So we them its.

50:09.93

wongga

So yeah, let's wrap up then I really wanted to thank you for hanging out with me here today. Um I Love what you've built here I Love the fact that I'm actively networking and trying to build my own real estate investment side other than my property management business and um.

50:10.98

Dakotah

Take activity for a activity hundred.

50:24.51

Dakotah

You choice So well I appreciate that I do really hope that it was valuable for those that are listening and you know.

50:27.16

wongga

Ah, just wanted to thank you I Guess for the real estate investor community of what you're doing for us. So thanks for coming on the podcast today.

50:40.58

Dakotah

What you just said to me and thanking me for doing things for the community I could say to you as well because I know there's probably lots of of listeners that will be listening to this and and potentially many other podcasts and so I thank you for taking the same amount of time because at the end of the day if you were doing this for you. We'd be having coffee together. And this wouldn't be recorded so you're giving back to the community ultimately as well and so I thank you for that and I thank you for your time.

51:00.76

wongga

All right? Well said all right? we'll we will catch you at the next event. Thank you Dakota.

51:05.20

Dakotah

Sounds good. We'll see you then? cheers.