May 16, 2023
Episode 167 – Darryl Frankfort – The Rise, Fall and Comeback of the Toronto Real Estate Assembly King!
”When I look at it in hindsight, all the little things I did along the way, made me capable of doing what I do now. It might look like it’s easy, but it took 30 years to make it look easy.” – Darryl Frankfort
- Selected links and people mentioned from this episode:
- Deal Core Properties
- Rich Dad, Poor Dad and Before You Quit Your Job by Robert Kiyosaki
- E-Myth and E-Myth Revisited by Michael Gruber
- [0:42] Patrick introduces his next TEDM guest, Darryl Frankfort.
- [03:08] Darryl and Patrick get rolling on their conversation and right into the podcast Darryl co-hosts with T.K. Butler, plus what he’s up to in the world of real estate and where.
- [06:11] Darryl takes us back to his early years working in the family lumber yard, where he got the bug for real estate through osmosis with his customers, and eventually started his own gig as a developer. Darryl recounts the story of his first venture and the big lessons learned.
- [12:00] After completing the first sale with a little cash in hand, Darryl wasn’t satisfied with the trials and tribulations of building one brand new house, so he decided he was ready to go for two at the same time! The economic downturn of 2008 added an undesirable layer of complication.
- [17:46] Although it didn’t come down to bankruptcy, Darryl’s describes the fallout of that deal and the road it next led him down.
- [22:43] Reflecting on that path, Darryl shares where his mindset was, some of the insights gained, and what he discovered was his real and true passion.
- [28:03] Darryl talks about where his entrepreneurial spirit came from and what continually kept it alight. And although making money was certainly a priority, that lure perpetuated his business for a bit longer than Darryl would have liked. Eventually curiosity won out and he decided to move on.
- [32:40] The next adventure was another great learning experience for Darryl, the result of which was the impetus for him to strike out on his own once again armed with more knowledge. It didn’t all come without big risks, which in retrospect may not have been the smartest with a young family, but his desire to feel free from a j.o.b. was stronger.
- [36:50] Fast forward to present, Darryl describes where he is at, and how he feels about life now with business, YouTube, and the connections of social media.
- [40:20] So what about real estate, what does Darryl really love about it? It starts with imagination.
- [45:45] Getting back to YouTube, Darryl shares the back story, the intention, the joy of creativity, and a bit of guidance.
- [52:35] As a self-admitted cynic, skeptic, but also open-minded individual, Darryl shares his view of the Canada we live in both current and future. Seems to him there is a strange alignment to Star Wars films.
- [60:26] Patrick and Darryl riff about the state of things politically, economically, and socially. Darryl also shares under what circumstances he would leave Canada, and where he would go.
- [69:35] Showing up in leadership in a world of confusion, serves to eventually bring about clarity and always opportunity.
- [73:17] Digital currency is bigger than tracking where we spend our money. Patrick refers to China, how it has been occurring there for years already, and the consequences of that level of control.
- [77:14] Furthering that reality, Darryl talks about the reality of the tracking, tracing, control, and divisiveness that has already occurred in Canada for the past few years.
- [80:16] In the context of real estate Darryl shares his perspective of fundamentals and cycles when the national and global game keeps changing. The game board has got to flip!
- [86:00] Ready for a rapid rapid-fire while Darryl’s wife patiently waits for him! Apple or Android; favourite inspirational quote; most impactful book and a side story on Robert Kiyosaki.
- [80:34] Darryl’s gratitude.