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Decoding the Real Estate World with Jordan Silvestor

• Dwan Bent-Twyford • Season 5 • Episode 370

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Unlock the transformative power of real estate investing as I, Dwan Bent-Twyford, along with the erudite Jordan Silvestor, bring you a treasure trove of insights that go beyond mere profits. In a toast to our faithful audience, we delve into the heart of real estate's human element, discussing why it's less about sales and more about counseling. Our experience tells us that understanding your clients' motivations is key, and we share stories that illuminate the profound learning curve and the exponential growth that awaits when you foster relationships built on solid ground.

Strap in for a journey through the intricacies of real estate investment strategies and the dos and don'ts that can make or break your success. Jordan and I dissect the challenges faced when aesthetics cloud the judgment of clients, reinforcing the need to direct their gaze towards the structural and layout aspects of a property. We contrast the investor and first-time homebuyer mindsets, highlighting the importance of educating on the financial perks of property investment, a timely lesson amid soaring inflation. And as we discuss providing quality housing, we also consider the larger economic forces at play that shape property values.

Finally, we broaden our lens to compare the Canadian and American real estate climates, ponder government interventions post-financial crises, and stress the importance of financial literacy. The episode comes to a close as Jordan champions 'mentorship' as a guiding principle, imparting that it’s not about solving problems for others but equipping them to find solutions themselves. So join us for a dialogue that's not just enlightening but one that champions the entrepreneurial spirit, empowering you with the knowledge to carve your path to financial freedom.

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Dwan Bent-Twyford:

Hey everybody, Welcome to another exciting episode of the most wonderful real estate podcast ever. I have awesome guests to you today. My name is Dwan Bent- Twyford. I'm America's most sought after real estate investor, and our motto at Dwanderful is people before profits. So if there's something that resonates with you, you're at the right place. I'm your girl. This guy today, he's going to be so amazing. I have Jordan Silvestor as a guest on today and you know if you're a regular, we're just going to talk about things. So short intro. So, Jordan, how are you today?

Jordan Silvestor:

I'm doing well. Thanks so much for having me, Duann. It's great to get a chance to chat with your listeners. Yeah, your client, your your listeners.

Dwan Bent-Twyford:

Yeah, so we always start off with a toast. Everyone knows that, listens regularly.

Dwan Bent-Twyford:

They have a drink, so cheers and all of you watching cheers and thank you for taking your time to spend it with us today, because time is your most valuable asset and I appreciate when people take their time and spend it with me. So thank you, and all my listeners and watchers, thank you guys too. Everybody grab a drink, everybody take a deep breath, get rid of your stress and hang out with us and have some fun today. So we just like to dive right in. So what I'm going to ask you to do is just say your name so everything's in the show notes how people can contact you and then just give us like two sentences of what you do, and then I have this little fun page of questions and I'm just in chat and ask you questions. We're going to find out how you came to be.

Jordan Silvestor:

Sounds good. So I'm Jordan Silvestor. The best way to reach me is actually at jordansilvestor. com. I'm a realtor by primary trade. My dad was a real estate agent before I got in the business and I've been real estate investor helping people invest for most of that time through that. So, again, jordansilvestor. com is the easiest way if you want to reach out. You can reach out through the office, 519-960-0350. And you can get in contact with us that way as well. So those are the two easiest ways. If you want to see me, I'm all over Facebook, Instagram, Tik ToK and YouTube.

Dwan Bent-Twyford:

And what's your? Are you Jordan, Silvestor on all those.

Jordan Silvestor:

Yeah, I believe.

Dwan Bent-Twyford:

So I'm going to hunt you down after we're done today and follow all your stuff. That's what I do. After I interview someone, I I stalk them online. I follow every single solitary thing that they do and then I try to help promote everyone, because, you know, we're all in the same business of helping people.

Jordan Silvestor:

It's a team sport in the world of education and the one thing I've learned is perspectives matter and I have a perspective and you have a perspective, and the benefit is they're not always the same, so different people get different ideas and see from different angles. Again, everyone has their life experience to lean on and there's nothing necessarily always right or wrong. It's just how you feel about that experience and how you're able to invest and learn from them.

Dwan Bent-Twyford:

So now I a hundred percent. I mean I have people on from all walks of life and not even always real estate. Sometimes it's about mindset or taking care of your body or whatever, because it takes all of that to make you a healthy person and people think, oh, it's all about money, but it's really not, because you can have all the money in the world and if you were a jerk before now, you're just a rich jerk. It enhances who you already are. So I feel like it's like it is, it's like a whole community and there's just a lot of parts that moving parts to it. All right. So what is your favorite aspect of real estate? Cause you said you're an agent and now you help people become investors.

Jordan Silvestor:

Yeah. So my favorite part about uh, about life, is teaching wealth creation. So it's again the financial side of the world versus the sales side of the world. So, as a realtor, a lot of people think it's a sales job. It's really not. You're actually just really a counselor who helps people purchase real estate. People tend to want something in their life and so you have to figure out that. What is the motivations of that? And so the cool part is I'm really just helping somebody A kind of figure out what it is they're looking for and, if they're not sure, help them to create the clarity in their world so they can make really informed decisions.

Jordan Silvestor:

It's not about the real estate sales. It's about how are you? What are you trying to accomplish? Are you trying to buy a family home so you can you know long-term wealth goal? You wealth goal? You're trying to do an investment so that you can have you know whether that's for your kid's education, whether that's for your retirement, whether that's just for some extra cash to do some more vacationing, right, like what. What is your motivation?

Jordan Silvestor:

Because, again, people's risk tolerances are all different, people's ideas are all different and sometimes people are like I want to do this and I don't see any way through. It's like, okay, well, let's put all the can go from here to there and if you want to do it, you know most people don't realize they underestimate what they overestimate they could do in one year, but very much underestimate what they can do in three. And that's a really good mentality, because a lot of the first year is learning and stability and growth. And then you get into this cool spot where, on the investment side, like once you've built the relationships that you need to really ramp up in the business, then you can start to do things.

Jordan Silvestor:

And once you get through the first few, you're like, oh, now I see what you meant by X, or now I understand why you told me not to make like not to go down this road, but this path, and here's all the little things that make the business, you know, learnable. And the cool part is is I always tell people if you think you're smarter than me or you think you're smarter than investors, that's cool. Like, hey, innovation comes through people taking risks. But I said there are certain things from a person who has tried pretty much everything you can think of. Most things have a function and it's because there's a bigger engine at play than what we have in our perspective, the greater. The perspective I've gained is lean on experts and then listen to their advice.

Dwan Bent-Twyford:

You know it's funny, I could not. I can't even tell you how much I agree with you. I told everyone I said, listen, you're going to learn through mistakes and mentors and I am telling you mentors are cheaper. When I started back, I spent like 35 years now since I started. There were no real groups, there was no Google, everything. There were nobody coming through town teaching big seminars and workshops and stuff like that, and I learned by the seat of my pants. And I can't even tell you I could write 10 books on all the things I did wrong, like so many things.

Dwan Bent-Twyford:

But you know, I'm a quick study. So like when I would do this one thing, I was like, okay, write that down, I don't want to do that again. Then I do this and this. But I really had to kind of invent a wheel because we didn't have all the things we have today in 1990 right I remember getting my first laptop, or uh, my, uh, yeah, what are they called? Uh, your desktop.

Dwan Bent-Twyford:

And I was like, oh my gosh, I have a computer, I am like so with it and there was just not that much information. Now you can just, you know, you can watch youtube videos on how to do every single thing in the entire world yeah, like everything, and it's just, I didn't have all those things. So I tell people like you said, like listen, there's so many resources, there's so many people that already have decades of experience learn, find a person you like and let them help you because you're, you're right. The difference between one year and three years, it's like night and day my first year versus like my third and fourth and fifth year, and then versus my 10th year. It was, it was astronomically different.

Jordan Silvestor:

Yeah, well, we. I go back in time. I remember video games and you had cheat codes, right, so you could put cheat codes in. And that's really what it is. When you lean on advice of experience, you're taking access to a cheat code. Now, if you want to learn to play the game and figure it all out on your own, go ahead. You'll figure it out. The world will teach you. I promise you. This is one thing I've learned. The world is going to teach you and it's definitely not going to be nice about it. Or you can put and put in these cheat codes. Learn and listen to people of experience. And again, it's not to state like I, I'm very much innovative. I really like to think I can change or do things, but that's where, again, you mentioned it.

Jordan Silvestor:

The information's available. The question for most people isn't that the information is available. There's been budgets all around, but how many kids finish high school knowing how to do a proper financial budget for their, for their job and for their income and for those things? How many people know that financial literacy? So, even before investing and this is why it's funny, because I've grown up around it, so I didn't realize what most people don't know, and so I'm learning that. Okay, let's start at square one financial literacy.

Jordan Silvestor:

What does it mean to really become wealthy? It's to spend less than you make. That's really the most simple way to become wealthy. It's have a portion of your income that is for investing and for your future, that you're not spending today, on the extra pair of shoes, on the couple extra times eating out. Take that money and just sacrifice today so that you can have an amazing future tomorrow. And that's.

Jordan Silvestor:

I have an 18 year old, so I have a bunch of his buddies. They're over all the time and they're starting businesses and doing things. It's really cool to watch because I've tried to instill this mindset of guys understand delayed gratification. Today will be massive because when you look at the guy, I'll be 40 this year. When I look at 40 for my son, that's 22 years away. I said but I didn't delay a lot of the gratification, so I've had to struggle because I kept kind of pacing. I'd it's like oh, I just need to make 5,000 more, you'll spend it and you're not going to be any further ahead because you're just going to find something new a better car, a better house, a better whatever and you're just going to keep spending. So stop, sit. Sit where you're at for for a couple of years and magically, this magic thing happens you have money and you're able to invest it and put the money to work, instead of you always trying to work to catch up to your lifestyle.

Dwan Bent-Twyford:

It's so true. I first started off. I had waited tables in my 20s. So I'm in my 30s and I'm making all this money and I'm one of those like I'm rich on Friday people at that time and I had a convertible and I bought a boat and I bought a house and I bought jewelry and I bought diamonds. I bought all this stuff and nowhere was I buying rentals and right no place was I investing.

Dwan Bent-Twyford:

I was just like, oh my god, look how much money I have. I have all the stuff and after a while I was like I don't have anything else to buy. And then I'm getting older, because I had no financial literacy and I'm starting to go to classes and workshops and I'm reading books like a crazy person. It's like, oh, I don't know nothing about how to invest and I won't always be 30 and 35 and 40. And what happens when I'm 60 and 65 and 70? You know, you can't just live up all your stuff. So it took me a long time to learn the financial literacy that is so readily available for people today. So I grew up in Ohio. It's the country it was like get out of high school, get married, have kids and go work at General Motors and work on a factory and make cars.

Jordan Silvestor:

There you go. That's not that different than Windsor. We have Chrysler. Well, we don't have GM anymore and we had Ford, and so this is very much an automotive city. Most people, their dads and their moms, all worked in those industries for years and that's just repeat on the in that in that same cycle.

Dwan Bent-Twyford:

So yeah, yeah, Same in Ohio. I had all in Detroit like everything, and that was like my whole life get out of high school, get married. So I got engaged, I got a job in a factory and after like two weeks I was like, oh my God, why would? Why would someone that loves me want me to do this until I'm 60. When you're 18, 60-year-old people are like they have a foot in the grave and another one's halfway in. But then when you get to be 60, you're like I'm amazing, I'm not half dead. I'm so happy I got out of that and was able to change my mindset, because my kids don't know any other way Work for yourself, own rentals, rehab houses, buy some buildings that's all they know.

Dwan Bent-Twyford:

It's like you know, someone's got to be the first one that like breaks that factory job cycle, like you said, and where you're at too, and you know my parents did it and it's so great and they did it and they retired. I was like, okay, well, god love you, but I definitely not for me. I mean. I can't even imagine. It's like oh God, I can't even imagine what my last 40 years would have been like. So what is your favorite thing about real estate?

Jordan Silvestor:

Yeah, so again, that's just helping. Oh. So for me, real estate, the investment side, I don't look at pretty, I look at practical. So for me, the hard part, I, I, I struggle with clients who look at the house and say I don't like the paint color, I don't like the flooring, I don't like this. It's like that's all changeable, like these are the things we can easily fix. So again, the issue and this is personal, right, so it's not that I don't work with those clients and work through those situations it's just like, guys, we need to be concerned with layout, structure, foundation, roof, windows, the things that are going to be $20,000 and $30,000 problems. Those are things we should be concerned with when we're looking at homes. Whether or not it's got carpet, we can upgrade to laminate or vinyl plank. The paint paint's cheap If you do it yourself. It's a little more expensive if you hire somebody, but on the scale these are all very simple things to change.

Jordan Silvestor:

And so my favorite clients, of course, tend to be the investors who actually understand they're not going to live in the house. So I also have some investors who forget that they're not going to live there. And it's not to say you shouldn't make it again solid and sturdy and all of those things. But you don't have to like everything about the unit. You're looking for a tenant who does not. You, you don't got to live there.

Jordan Silvestor:

So I always find it really funny with the, with those clients who are, who are like, well, I wouldn't live here. I said that's, you're not, are you going to do you plan to move into this unit? They're like, no, I'm like then it doesn't matter if you would live there. Well, a tenant, live here. Is the house solid? Is the, are the things here?

Jordan Silvestor:

And again, or you can rent it as it is and more affordable, housing right, which is a big issue I know in the States, as it is in Canada, here, affordability Right. And so I always tell clients, it's, it's get out of your own way. A lot of times and you know it takes a few times around the barn to get them to understand that. And, like I said, with first time home buyers it's probably the hardest. But I still, again, I love to to teach people, to watch them, you know, go through that process, especially for the first time. It's just a cool thing when they get the keys to their home and they're able to like have their house in the process there, so I love that part.

Dwan Bent-Twyford:

I do too. It's funny because I, when I have students that are buying rentals, I'm like listen, say this to yourself when you're in. Like the Home Depot, I am not going to live there. I am not going to live there. Say it on repeat, because it doesn't have to be like what you want. But you're right, it has to be sturdy, it's got to be safe. It's got to be safe for kids you know, they want a pet or whatever.

Dwan Bent-Twyford:

But because you know, if I fixed up a house to what I would like, I wouldn't be able to afford any of my rentals because they'd all be too bougie.

Jordan Silvestor:

Right.

Dwan Bent-Twyford:

Because I'd have like the best of everything, and so I do mine. I make all of our properties nice too, because you know someone's going to live there and I want to provide like a home to my tenants, that they feel like they have a home. And I've got tenants I've had 10, 15 years I just keep renting and renting. I'm like, dang, you could have paid for this already. Well, you did for me, so, thank you. And they're just like they just want to rent.

Jordan Silvestor:

Oh, I don't want to own a home, why not? Well, it's again. I think it all comes down to fear and mindset, the education people like. So I don't want to deal with tenants, why not? Why would you? A - if you don't want to, there's these things called property managers, so you don't have to a nd, B, even if a tenant does do something to the property, like what, what's the worst, unless they burn it down, which you should have insurance like, even like everything that they usually bring up, it says okay, so, just, just so we're clear.

Jordan Silvestor:

The objective is not to invest the money. You just prefer to put it in the bank and hope everything will be okay, like that's and that's okay, don't go. You are allowed to have that opinion, I said. But here's the thing, as we've just seen in both countries in the last minute inflation. So money in the bank is worth almost 20% less.

Jordan Silvestor:

So if you had a hundred dollars in the bank in 2020, and you have it in there today it's probably worth $80, right? So if you had a hundred grand, it's worth 80 grand and it right. And you and let's say it's still lost the 20 grand At least it would be invested with the potential to recoup it right now. Right now, you're not invested to recoup it, which means that you'll never actually regain that value, whereas in an investment, even when the market tanks, the only way you really get in trouble is if you sell. Well, it's slow. The problem with money is I haven't seen it where we've seen it go in the other way, right, where instead of inflation we say deflation. If we see deflation, then fine, but that hasn't happened in a long time in either country.

Dwan Bent-Twyford:

It's been. I know, gosh darn, our countries are such a hot mess. Right now I'm talking, america is like on fire, with all these borders, all these people coming in and all the property values around, all those sanctuary cities and property. They're just tanking because everything's trash and people just they ruin everything, just oh, it's just like I watch on the news. I'm like what the hell? Why is this happening? I don't know if it's that up in Canada, but it's terrible here.

Jordan Silvestor:

Yeah, we have a huge housing crisis, but we brought in 1.3 million people and I get that doesn't sound a lot, but but we brought in 1.3 million people and I get that doesn't sound a lot, but you remember, we're 10%. We're only three, 36 million people as a country, compared to you guys at about 360, right, we're basically about 10%. So, when you bring in that many new people and we already have a housing crisis we already are in we don't have enough housing for the current people living here.

Dwan Bent-Twyford:

I'm not anti.

Jordan Silvestor:

I have never been anti-immigration. We're all immigrants to this part of the world, for the most part. So. But there is an idea where, if you're going to be, if we're supposed to be bringing people in for the opportunity to live the lifestyle of North America, we should be able to make sure they at least have a roof over their head and food in their belly. And if we can't do those things, then why are we bringing them into the country Like? That doesn't make a lot of sense, and if, by doing so, we're also taking away the opportunity for a Canadian or American to find an affordable home because we're adding too much stress to the inventory. People don't get that.

Jordan Silvestor:

They're like well prices are going to go down. It's like, how do they go down when there's still five people who want to buy one house? The only way it goes down is when there's five houses and there's only one person buying. That's how you need to have the inverse. You need a supply of property, and I'm not even saying it needs to be that drastic, but right now, like that's why we're seeing values in current even in the current economic condition of interest rates, we're still seeing values generally rise. It is stagnated more in the U S because we have a five-year fixed. You guys have 30 year fixed, so we have amortization for for 25 and 30 years, but we have to renew our rates every five years, so we don't have as much time to sit back and wait.

Dwan Bent-Twyford:

I didn't know that you have to renew every five years.

Jordan Silvestor:

Generally so you can get up to. In Canada most of our banking systems run on anywhere you can get a one-year loan up to a five-year loan and it's still amortized though over the course of 25 or 30 years. So you still are in the same payment. But the the structure is you can go all the way to 10 year. But it's almost never worth doing, except most recently when it was 3.69, 3.69. Right now you'd be killing it Cause. Right now it's 5.25, but forever.

Jordan Silvestor:

At that very same time you could have got locked in for five years at 2.4 or 2.2% in Canada because again we can go lower than the States can because we're on that same cycle. So it's interesting as we watch that. But again for us, like cause again being part of Keller Williams, that's a huge piece of the U S market. So we were just down at the thing listening to Gary Keller speak about what's going on in the U S. They say 61 or 63% of the movement in the U S right now because of interest rates, is only divorce. So people who are getting cause they have to sell. It's not because anyone would want to sell. Who's going to break a three or 4% 30 year rate to go to six or seven Like and so and so when I look at all of this stuff, it's very interesting how yet we're.

Jordan Silvestor:

If you come up to Canada, like if you grew up in Ohio, where I can be in Ohio in an hour right, I live on the border of Detroit, so it's funny. I crossed the border all the time, hang out in Detroit all the time. It's no different. Everybody's the same. We're different people somewhat, but overall you wouldn't tell that I'm necessarily a Canadian if I cross the border, vice versa. But yet what's so crazy is how different our economies truly are.

Jordan Silvestor:

I know, how different the states and Canada function in that way, and so I always talk with the Americans and the Americans with me, and we were always chatting about okay, so what are you guys seeing? And they're seeing this. It's like man. That's so weird because we're seeing almost the exact opposite. We're seeing transactions still be lower than of course they were, but our prices are still rising. We're not seeing stagnation. We're seeing price increases because we still have transactions happening because of the forced five-year adjustment and so again, with that, most people would lock in normally on a fixed five-year or the variable rate, which again got us into a lot of trouble, because variable, of course, was even lower than the 2%, and now today it's at 6.2 or 7.2 if you're on a zero, like if you have no discount on it, but yeah anyway.

Dwan Bent-Twyford:

So I you know, I don't know how I don't know that because I interview people from Canada all the time we used to be able to um, I do a lot of owner finance like subject twos. People do me a house and I sell it to a homeowner subject to, and I used to put, you know, 30 year amortized, but with a five-year balloon. But after that big crash I'm like eight, nine, ten, the dodd frank won't let you do that anymore, right? So it's like okay, so then I have to give someone a loan and we have to have like a verbal or like a written agreement that in five or six years you'll refinance this because this homeowner's name is still on this loan. We're not allowed to do five-year balloons anymore. And I was like, okay, you guys just cut into my subject two business, but you can do three years.

Dwan Bent-Twyford:

You can make them refinance in three. But if they're doing owner financing from a subject two, they can't go to a bank. They're probably not going to have their credit good enough in three years to really refinance it anyway. So you have to give them like five or six or seven years. That I can't pin them down now to an exact time anymore.

Jordan Silvestor:

Right, you can't control the, the, the like drop dead date, like where they have to make this decision or not, and and again they're like if you look back at the 08 fall in the US. What was very interesting was you guys were lending at 125% loan to property. I remember that's when I jumped into the business, so my dad had been in real estate since 88, but I came in in 08 and started working in 07 as his assistant and I just remember watching all of that and trying to understand. We had 0% mortgages up here. We have like we have. We went to 5% with CMHC insured mortgages up here in Canada and you guys were. You guys were lending like people could buy boats. Basically, they buy a house for a hundred grand. You give them 125, they could go buy a car or a boat with the extra cash and I'm just like how does it?

Jordan Silvestor:

like my brain just tries to process how does how, how does that actually work in any common sense? At what point did that become a bank practice? That made sense to the bank and I still have never really gotten to the bottom of how that ever became a good idea. But it was something they were doing and so I find it interesting. Again with the rule changes Some of them are good, some of them are bad.

Jordan Silvestor:

Usually, the government regulation is not always a great thing. I find they tend to mess up more than they fix right. We just had a thing I find they tend to mess up more than they fix right. They just changed our capital gains rule and raised our capital gains tax on us by 36%, so now we pay 36% more. So we were paying. Let's say, on a $200,000 capital gain, we'd pay about $50,000. Now we're paying about $68,000, $69,000. So again, and they want us to, of course, create affordable housing for them. And then we, of course, if we're going to give that to somebody else, we have to sell it, which creates the capital gain, and we don't have the transfer. We can't push the gain forward like you can in the States.

Dwan Bent-Twyford:

I know.

Jordan Silvestor:

So again, it's just so many of the things you come along, you're like really, and the government's like we're going to fix the problem. It's like watch the government try to fix problems. They seem very inept at doing that. They create too much cogs in the wheel that slow everything down to actually get anything done, whereas business owners tend to have this thing called profit they're aiming for and trying to get to, whereas the government's like we'll just tax more money. It feels like it's like oh, if we make a problem, we'll just tax further, we'll just print more money out of nowhere, which causes like again, I don't like to get overly political, I just don't understand the logic.

Dwan Bent-Twyford:

I'm just like what are you guys doing? And you know that whole 125,? I remember when that started and I thought and they had two year, five year and seven year balloons and I would tell people and I would teach at seminars like listen, the market's going to crash. You can't lend people 125% of the value and then put a five-year balloon. Because of the five-year balloon, if the house isn't worth more, everyone's going to sell their houses at the same time, which is exactly what happened.

Dwan Bent-Twyford:

I used to tell people like listen, all my students like, hey, you need to refinance whatever you need to do, because when this balloons come due, it's going to be a disaster. I remember talking my husband and I were on the stage with like 400 people. We said the market's going to crash and they were like boo. They booed us and I'm like honey, we've been investing for decades. At this point, I am telling you, everyone's going to refinance. At the same time, the market buyers aren't going to be up, the people that can't reinvest are going to sell and the market's just going to go, which is exactly what happened. So we were like prepared, we had everything refinanced, we had everything ready to go.

Dwan Bent-Twyford:

And I mean, I know people that lost millions of dollars and hundreds and hundreds and hundreds of rentals and thank God, we were able to make it through all that because we, just, like I, didn't understand how people couldn't see it coming Right able to make it through all that because we, just, like I, didn't understand how people couldn't see it coming right. How do you not see it coming? It's not like they have these loans forever. They're interest only so they're paying this tiny payment on this house. That should have a payment up here and they can't afford it, and when the payment changes, everyone put their house on the market, like I don't understand. So I know that I you guys probably know this too, but Ronald Reagan had that famous quote like the nine scariest words are I'm from the government and I'm here to help.

Jordan Silvestor:

I want to stop helping us.

Jordan Silvestor:

Yeah, again, I have a charitable mindset and I guess so I'm. I'm a fundamental capitalist, under the idea that capitalists should be giving, meaning that in the community we should have an uh, uh, an altruistic outlook to give back to the people that need. But I also agree that I know better in my community that I'm living in who that need should be to, not to everybody who thinks they need. See, we have a culture, um around us that that is teaching people that the government will pay you, the government will give you. We went through covid, we CERB and different things that we had up here where the government was just giving money to people and it's like I get it. I understand, but the issue is is you need to be able to stand on your own two feet. You need to be able to not be, because if the government's the one giving you the money, then they're the ones who are, they're the ones who now control your entire ability to, to decide how you're going to afford property, how you're going to invest, how you're going to do any of it, because they control all the funds I said so the question is is are you competent enough or not to actually make your own decisions and and and. People are like well, what do you mean? I'm like you have to decide whether or not you want the government to be your. Your the person who makes all the decisions for you, or if you want to be that person. And it's totally up to you, because if you allow the government to keep doing this to you, you're going to get into this false sense of security, yeah, and then you're going to be seeing this spot going.

Jordan Silvestor:

How did I end up here? It's like you just walked down the road. You chased the care like the carrots right there. You followed it right off a cliff and the government. Now what if you're? If you continue, you get. It's this slow fade into whatever you want to call it and you're just like man. All you need to do is change that mindset slightly.

Jordan Silvestor:

I'm not saying you don't need support. I think a lot of people need support. We need to get them from where they are to where they need to go, and we should come alongside them again. Mentors and mentees, right, like come alongside, coach, train, give opportunity and then, and then grow. Versus here's just some money and hopefully you'll be okay. It's like why don't we teach them how to take that money and be okay, versus just handing the money. And, like you know, I just think we need a different culture in our mindset around how we deal with human beings in kindness and clarity. I don't think it's right to be out there berating people either. I think it's just bringing that. That's why I said financial education is a foundation where I'm learning.

Jordan Silvestor:

It's like it's missing in a lot of people and you think because people have money and they've done well, they even run businesses. Sometimes they don't even know how money works. They just sort of they've gotten lucky might be the right word They've just done the same thing for so long and it just happened to work out all the time and they've never been in a problem. Until there is a problem, then they don't know what to do. You're like. This is why you need financial literacy. Like you said, you started to read books, you started to invest in yourself.

Dwan Bent-Twyford:

You started to rebuild. I tell people all the time when they start working I'm like, listen, you don't know what you don't know. So you can't just say I want this wholesaling program because you might come across a rehab or you might come across subject to, or you might come across a commercial property, and so you don't know all the millions of things that you don't know yet, which is why I always encourage people to use mentors. So when I was in high school I graduated hold on, back in 1977.

Dwan Bent-Twyford:

You probably were not quite even born yet, but in our high school we still had home ec classes and we still had it was called family living. Where we had to, they paired you up with a guy, and so for a semester, only for a semester, but during that semester you're paired with the guy and you had to and like okay, you have this much money and you had to do a budget. And you had to like, plan a wedding and you had to plan house payments and they taught us how to budget and balance checkbooks, like not you, you know, but stuff like now they don't even teach kids anything like that and so family living. So I remember the guy I got paired up with was like the most popular guy in high school and I was so freaking shy. It's like, oh my god, this is my worst nightmare. Because he's like, hey, I'm just like, I was so shy.

Dwan Bent-Twyford:

But you know, all of us had to plan and like we went up to the church and had like a little mock wedding and we all had to do a budget on houses and cars and insurance, like all this stuff. So we spent six months, you know, learning budgeting and then the home back is like you know the cooking, the cleaning, all the things like that. But the kids now they don't learn any of that stuff. They're just in school. They graduate and they get out. They don't know how to balance their checkbooks, they don't know how to use money and work with money. You know they get credit cards and they run them completely up and by time they're 22, they're ready to file bankruptcy and because there's just nobody teaches that and they don't learn in college either. Here.

Jordan Silvestor:

No, they don't. I don't think there's any financial literacy, because a financially literate culture breeds a problem for a government, because when you actually understand what's happening, you actually see the spending, when you actually look at the numbers and you understand the difference between government spending and, like I mentioned earlier, corporate spending or business spending. Business spending has this fundamental requirement, which is a profit model it doesn't mean it's going to work requirement, which is a profit model. It doesn't mean it's going to work, but it has a profit model. Otherwise, what are you doing? Government doesn't seem to have to do that. I don't feel like they come up with a profit model. They just come up with a model of how to spend money.

Jordan Silvestor:

But there's like what did you get for your money? Kathleen Wynn was one of our people. She was trying to do something in the in, like the environmental crap around electricity and building stuff. She spent $2 billion on nothing. We have nothing to show for it. $2 billion just gone. And that like that's Ontario, that's not the Canada government, that's just this province. And so when I look at that, it's like how do you misappropriate $2 billion and have nothing to show for it? And it's like she got voted out. So again it did work itself out that she was gone.

Jordan Silvestor:

But again it's like what point did we, did we stop? Like, at what point did you somehow lose $2 billion where you didn't know what? At 80, 80 million or at 120 million? Like, how did you get to 2 billion before this thing was done? But before you didn't understand. I can understand it in the context of of of certain R and D again, drugs and medicine and different things they're doing. But like, again, they still have a profit model that works and they, they function.

Jordan Silvestor:

The government just is like well, we made a mistake, we'll just print money. It's like that, that can't be in a. That can't be a response. Could you imagine if you're a business owner You're like ah, we didn't make enough money last week, we extra money and give it to the people and the thing. It's like where's the accountability? And that's all I'm looking for. I'm not looking to get rid of government completely, I just want accountability structures in there, just like you would in business.

Jordan Silvestor:

And I think if you build that back in, I think you would have a better overall system where it's accountable to the result and if you don't get the result, you lose your position. You should be able to. I get people can vote, but I think there's not enough clarity about what they didn't do. I think, like when I I can't, I can't honestly tell you exactly what my guy's voting, you know what he voted for and all that stuff. But if he had to produce that and show here's what we voted for, here's what that did, here's the results, here's where things went well, here's where things went bad and you actually got to read it, you might be able to make a different, educated decision, whereas most people are like I'm a Democrat or I'm a Republican, I'm a liberal, I'm a conservative, whatever you're like, you just do that out of out of like a knee jerk response, like maybe we should look at you know results, not ideology.

Dwan Bent-Twyford:

I'm with you. I could talk politics and business with you. I I just like I feel like I get up on the soapbox. A lot People are like I'm like, listen, you know, I've been in business for decades and I didn't know anything when I started and thank God I learned. But I mean, I've had to take some financial classes and I've had to do some things over the years, because nobody in my life ever taught me more than balance your checkbook, work at a factory and then retire and that's it. Call it a day on your life. It's like I don't want to do that. I get so much more fun to be an investor and work for yourself and control your hours and your money and what you do and who you work with, and podcasts with awesome people like you and stuff like that. So so what are you working on right now? Like, what is your? What's your next like biggest goal that you're working on, and how can all of us at Dwanderful help you reach that?

Jordan Silvestor:

Yeah. So actually the biggest thing I'm working on is I had zero social media presence as of September zero and I'm actually in the process of building out with the podcast, with education, with videos and everything across all the platforms. My primary thing, again, as a realtor there is a lot of real estate, but it is an educator and I'd rather lean more into the education for people. For, especially, I got my kids, uh, 18 and 15, who I'm looking at and it's like how do we, how do we educate, how do we give them the one leg up? How do we get them into those things? So we're we're looking at courses in the background, looking at at stuff designed more for the let's call it 14 through 24 window, um, and really and really looking at some of uh, how we, how we reach them. So there's stuff on the background around that. So, again, the big goal is again create the influence, come with integrity and then and then be able to bring education more than real estate. Like I, I again, I am a realtor, it is what I do, I'm an investor. I think these are important, but the primary thing is, if we can educate the culture and educate the youth of the culture, then you can. You can see positive change in their lives, which is the coolest part when I see these kids starting their little businesses and going door to door and doing all this stuff and doing like labored work to go get these jobs and making money Like like my, my kids running is what a window cleaning business, other buddies running a rototill business, the other buddies running a lawn care, and they're all out there doing it and they kind of worked within each other's worlds but they're out there doing these things and they're all like 16 to 18, 19 years old and to me it's like it's the entrepreneurial spirit.

Jordan Silvestor:

And again, I don't think there's anything wrong with a nine to five. If you're built for a nine to five and that's your comfort, go ahead and do a nine to five, but understand how you're going to spend your money and write and educate yourself. Okay, so I make $45,000 a year. I'm going to put $8,000 of that or $9,000 of that into some savings, into some investments. I'm going to spend 10% of that. So I'm going to spend $4,500 that year on stuff I want. The rest goes to living, into cost of like just being an operation and if you can understand that, that, that that 60, 10, 20 rule, and again we adjust it based on.

Jordan Silvestor:

It's not perfect, but you know, you look at that and you say, okay, so how do I give? And then, and then from the the growth and stuff, how do I give what? Where do I give into the community? Cause, if you want to build businesses, you want to do it. The number one way to make wealth is in relationships, not in money. Yes, the trick of the game is in relationship with human beings, because if you know the right human beings, they always say it's not how, it's not how much money you have, it's who you know. Because the people you know who have money are more than happy to give their money or like lend their money and support businesses that are community minded and growth minded. I love to support these kids and see what they're doing and as an entrepreneur and business owner myself.

Jordan Silvestor:

So I think and I tell them all the time I said you should just go knock on other businesses. So if you're going to go do something, get a, get a flyer, get a thing. If you want your flyers paid for, go ask a business local to pay for the flyers and you'll put their ad in it. You, you're going to go door, knock 2000 doors. What business owner on the planet isn't going to say there's going to be a kid standing there at the door handing you something for their business and your, your coupon or whatever you're offering, is right there, right, that's a such a different level than the. You get it in the mail from the mail carrier, right, like, and again. So for me that's like the, the. The vision is in that education.

Jordan Silvestor:

Real estate is always a foundation because I believe, like again, a good place to invest, because it's where I live and understand, is in the real estate world.

Jordan Silvestor:

Wherever that is commercial, you know whether you're wholesaling, doing whatever you're doing there. But again, the more I learned about the stock market, even though I don't do it myself, I tell people I said dividend. What I've understood, it seems like, is dividend. Stocks are a very good place to put your money because they keep buying their stock and it kind of just grows all by itself and you just kind of leave it sort of like cashflow investments. If you don't pull capital out in the early years, you pay down that loan and all of a sudden now you have this massive asset that's sitting there with value that you didn't pay for. Like you said, why didn't these tenants buy the property? Well, because they decided to buy it for you. So you have these tenants who bought you a home and again it's it's their choice, they they in. And that's the part that we want to try to figure out I've had so many people.

Dwan Bent-Twyford:

I had C cynthia lived in one of my houses for 15 years and I was just like I don't understand. I was like you know, I could help you buy a house and I could, like, sell this one to you. No, no, no, I don't want to own a house, I want responsibility, it's like. But you, I mean I've had a lot. I ran into a lot of section, eight women and they would live in those houses for 10 or 15 years and like they're paid for. So by the time I, you know, keep renting them and the next person comes along. It's like, thank you, government, for paying those people that paid me and paid off my house and and that's the the thing is is I what I want?

Jordan Silvestor:

is I want people? I doesn't mean people are going to choose to make the right decisions. They said, magically, with Google you could know anything you want to know. You can Google almost any answer to any question. And I, and we're not smarter today. It's no different than the calculator. The calculator did not make people smarter. It gave people a crutch that they could lean on Right. And so the issue is I love the fact that if I can't remember specifically, you know, okay, oh yeah, this model, the NOI model or the cap rate model, I can just go to Google and quickly grab it, but because I know what to do with it once I have it.

Jordan Silvestor:

See it's one thing to have knowledge, it's also important to have the wisdom on how to use it. And that's where your mentor again, I'm always going to come back to the people in your life, those mentors, these people who know the systems, know the models, have already made a lot of the mistakes. See, if I learned to listen better at a younger age, I would be much better off. But because I'm stubborn and stupid in some respects, I'm getting better. No, but, like honestly, I want to tread my own path. I, I want to tread my own path. I believe that I am smarter than most people and to some extent, that's not wrong. But at the same time, because I have found some more things that have worked. But the rule is, if it's consistent for 20 years, it's probably consistent for another 20 years if you follow the model. And, yes, you might be able to get lucky along the way, which is what we don't always remember, like my live lucky hat, you can get lucky, but luck is required by hard work. But the other problem is don't ever bet on luck again, because if you're always betting on that luck that produced that result but it wasn't a consistent thing, you can see and repeat. Be very careful. Yes, that worked out amazingly.

Jordan Silvestor:

But if you now change your model to the luck version, you're going to lose, right? If you leave it in the, in the functional version, then you'll get lucky. Because here's the thing If you stay in the functional, you can't really lose, because it's the operational thing. It's not to say you can't lose at all, but you're much safer. But if you switch over, oh, I made an extra 70 grand. That means now when I project, I should project the extra 70 grand on that deal. No, that was just the way that deal happened to work out. It happened to have this thing that got you that extra money.

Jordan Silvestor:

Keep the model you're working with and if it happens again and now if it happens 10 times in a row, maybe you need to change your model, like, but, but, but, but, because now, now you have proof. But again, I think people so quickly over-evaluate their success. And that got me because, like I said I, I started to believe more in the result than I did in the model, and then I ran into some issues, and that's what I mean by I was betting on the market more than I was betting on the house, and that's why I've switched back to, which it's not that it was never true, but you don't make money on the sale, you make money on the buy. You always make money when you buy it, so you cannot make money on the sale.

Dwan Bent-Twyford:

If you can get everyone to follow that like you make the money when you buy it, people would make less mistakes because I think, okay, well, I can sell for that, but then you can't always sell it for that. So, okay, we're going to jump topics for a minute. I love your thought and you're. I'm excited for this podcast to come out and I'll put it all over social media and help you with your. Big goal is social media education, because I'm all about like 100 about education at this point. Because I'm like, if I could do this like literally anybody can, literally anybody can. Um, what's your favorite band of all time?

Jordan Silvestor:

band? Oh, that's a very interesting question. So if I had to go back in time, it's probably like so. If I go to my youth, it's probably Blink-182, you know, going way back and seeing them live a few times when I lived in Toronto when I was younger, and differently. There's that Green Day like that was. That was the secular side. You know DC Talk from the 90s would be another more on the Christian side of things.

Dwan Bent-Twyford:

I love Blink-182. I love Green Day. I like them all. Yeah, I love Green Day, I like them all yeah, so that that blink blink always.

Jordan Silvestor:

I felt like you know there's certain songs and you just listen to them and they just sort of like you hear yourself in them. That's a lot of that music. So.

Dwan Bent-Twyford:

Yeah, I like that. It's interesting because I feel like you can always tell a lot about people what kind of music they listen to.

Jordan Silvestor:

Yeah.

Dwan Bent-Twyford:

Cause it's like the bands that are your favorite. It's because the music speaks to you. But if you know that band, I feel like you have a little bit more insight into the person.

Jordan Silvestor:

Right, yeah, and for me, when I look back at the 90s rock and a lot of that and then you have the Eminem Eminem's probably one of my favorite artists of all time it's interesting because it's just the way they speak, the rhyme, the beat, the way you feel. The issue can be, though, if I'm not careful, those can dominate me, and I've learned to stay. Even though I like the music, I've learned that sometimes it's not the most appropriate.

Dwan Bent-Twyford:

It's too much cursing for me.

Jordan Silvestor:

Well, sometimes the attitude that can be produced by the listening is not exactly what I want to emulate, if that makes sense.

Dwan Bent-Twyford:

No, I understand. Like the OG hip-hop came out, you had like run DMC. I was like oh. I am loving this music. And then it kept getting like darker and darker and I was like, oh okay, I'm I'm good on what's your favorite food food pizza and I like pineapple on it, which usually makes half the half the people like yeah, pineapple.

Dwan Bent-Twyford:

Other people like you do not put fruit on pizza now, I agree you don't put fruit on pizza, but my grandkids love pineapple on their pizza so I've had it so much lately that when I get a pizza without the pineapple I'm like oh isn't that something, but at first I was like who puts fruit on pizza.

Dwan Bent-Twyford:

I was that person, but I've I don't even know. The kids just love it and we get pizza hut all the time. And now I'm just like, oh, there's no plan. Where would we get this pizza from? Why is it not pizza? And it's weird. I think you just develop a taste for it.

Jordan Silvestor:

Yeah Well, it's a sweet and savory flavor. We usually, I do like it's called the anger Hawaiian. So basically you do pepperoni instead of ham and then you do the hot peppers. So you have the three things and it's a fun one. It's a little spicy, but it's good.

Dwan Bent-Twyford:

I love pepperoni on everything. What's your favorite part of the day Out of?

Jordan Silvestor:

the whole day. What's your favorite part of the day? What is my favorite part of the day? So what's really interesting is I used to be a night owl and now I'm more of a morning person. I still stay up late on occasion, but for me it's when I first get up and I'm able to get moving. I usually do breakfast or do something very early in the morning with friends or things. That's probably my favorite part of the day Getting up and just going to hang out with somebody and have a conversation.

Dwan Bent-Twyford:

I love that, I love that. And so just one more time tell everybody how they can reach you and across your socials and everything.

Jordan Silvestor:

Yeah, so the best way to reach out is at jordansilvestor. com. I am on Facebook, I'm on LinkedIn, I'm on Instagram, tiktok and YouTube, so you can reach out across any of those platforms as well. I'm looking forward to getting the podcast up and running with. That'll be coming out shortly and that'll probably be on Spotify as well. So, but right now you can search my name and you'll see all the uh podcasts I've get to be on, like this one with Dwan today, um and so it's just been an honor to hang out.

Dwan Bent-Twyford:

Yeah, I know I've loved having you on. I love people that uh, you know, just have really good energy and are easy to talk to and, like I don't have to like pry words out of them, because by the end of a show like that, you're like, oh my gosh, I don't know what to say, I can't talk to me. All right, folks, if you enjoy the show today, I want you to go to dwanderful d-w-a-n-d-e-r-f-u-l. com and opt in to my website. I've got some free ebooks for you. So I took dwand and wonderful and I made a new word. So everything is Dwan-der-ful over here and I'm on all the socials Dwan-der-ful.

Dwan Bent-Twyford:

And I also want you to do me a favor and, wherever you're listening to this podcast, leave us a five-star review and just say something like how great the show was, how awesome Jordan was, how great I was, and just tell everyone how great it was and refer us to other people. We do podcasts to teach and educate you and they are definitely a labor of love, and for us to grow, you have to help us grow. So please take a moment and do that for me, if you would. And then, jordan, the last thing of the day is I want you to give me a parting word of wisdom, but just one single word Mentorship.

Dwan Bent-Twyford:

Good word. I don't ever tell anyone ahead of time that they have to come up with a single word, so then they spend the whole show thinking about the word and such. Now. So, men, so so the people that listen to me regularly, they know that that is everyone. That's your word of the week, so that is the word of the week, and they're supposed to focus on mentorship. But we want to know is what it means to you. Like, what does that word mean to you?

Jordan Silvestor:

So so mentorship, what what it really means is where did I get some of the best advice I've I have to lean on, and so when you ask that, usually it's a different question.

Jordan Silvestor:

Usually it's what piece of advice would you get, like you give yourself when you're younger, or whatever that one is. So I chose mentorship because I'm like, okay, where did I hear the advice? So, instead of the thing cause for me it's it's the people that have been in my world that have given me the advice when I'm in moments where things are not good right and life is not treating me the way I'd like it to and things are hard, and you were able to lean on those people and they're able to give you small pieces. They're not trying to fix all your problems, they're just trying to help you get a better mindset to deal with them. Because one of the things when I look at mentorship, it's not that I want to fix the person I'm mentoring's problem. I want to give them the tools to succeed through their problems, because if they learn that, they win the game.

Dwan Bent-Twyford:

Amen. I cannot agree with you more. That's a good word, and I always like people tell us what it means to them, because someone could say the word success and then what they think success is, and I think it is not the same thing. So we always want to know. So, everyone that is a regular Dwanderful listener mentorship, and I think right here you get two great people that will help you on your journey because I'm all about helping people on the journey and you are as well, and there's nothing better than a good mentor that can encourage you and help you through the mistakes, or help you not make the mistakes at all and just make.

Dwan Bent-Twyford:

My path was long, and I like to see people turn around and, you know, make a half a million dollars in the first year and have a shorter path, less mistakes, and it's like, oh, isn't that great, it's worth everything, so, uh.

Dwan Bent-Twyford:

So, first, I want to thank you for being on the show today, jordan, we uh, and everyone that's listening, I I know that time is your most valuable asset and I appreciate you taking the time to spend it with the both of us today. Uh, when the podcast comes out, though, it'll be on youtube, so make sure you go over to youtube to wonderful real estate and follow over there and on all the social medias you'll see videos. You'll see. Well, he'll just we'll be all over the place there for a minute and then you'll share on all of your social sites as well. So we're here to help you, I'm here to educate you and I want to thank you and I'll be back next week, same bat time, same bat channel. And remember that the truth is in the red letters. But everybody, ciao, have a good week bye.