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March 23, 2021

Episode #111 – Terrie Schauer – The Way of the Mindful Warrior

 


 
  • SHOW NOTES
  • 02:08] Patrick introduces his next TEDM guest: Terrie Schauer
  • [04:45] Terrie and Patrick get the show rollin’ to hear Terrie’s elevator pitch, her turn from Montreal to France and back again plus why she reinvented herself as the “Mindful Landlord.”
  • [06:52] The two pivotal influences that steered Terrie toward the pursuit of real estate and property management concurrently with her University studies.
  • [09:20] Terrie came by her entrepreneurial mindset honestly being surrounded by a family of entrepreneurs. Conversations about business and her father’s company were common around the dinner table and everybody got involved. Although early signs pointed Terrie away from business, to her surprise her life course headed right in that direction.
  • [12:01] Terrie’s inherent personality, systems thinking, and character poised her to quickly take on the role of house manager in University days which informed her future experience and success.
  • [13:24] From manager to rental property provider. After successfully running student housing from other people’s properties, Terrie decided she was going to get some skin in the game and pursued a new venture. A triplex in a rather cracked out neighbourhood of Montreal brought opportunity for ingenuity, creativity, tenacity, and a desirable business model to market.
  • [18:07] Before moving to Marseilles to pursue her dream in semi-professional kickboxing, Terrie capitalized on the value increases in her neighbourhood and with the equity she had accumulated purchased a second building five minutes away to broaden her student community and a create a spirit of fun.
  • [20:56] In a business space where she wears multiple hats, Terrie is still most gratified by her vision for managing a property’s potential. To see an area, a building, and visualize its highest and best use, optimize its potential and bring it to fruition.
  • [23:09] Terrie provides insights into Montreal’s rental market, a very tenant focused market where tenancy laws don’t account for much personal responsibility. Most of Terrie’s coaching clients are also focused either in Quebec or are looking to get a foothold in the interesting investment opportunities that Quebec offers.
  • [26:54] Terrie offers examples of some of Quebec’s most glaring differences to other Canadian rental markets to illustrate how tenant-centric the laws truly are. From no ability to collect a damage deposit to lack of eviction remedies, rental property providers have their work cut out for them. Thankfully, the screening process can still provide strong filters.
  • [31:22] In the landscape of the Quebec rental market, Terrie talks about building types, patterns for investing, and what she sees for the evolution of real estate investing; less about increased rent control and restrictions (they are already about as tight as they are going to get) and more about the practice of working within them to take advantage of a thriving market.
  • [35:35] Patrick and Terrie touch in on the effect of this past year’s events in a city that is the most densely populated in North America and the economic challenges they pose post-mortem from such lengthy and intense shutdowns. It is nothing short of a mass extinction of small business. In the space of rental real estate Terrie highlights the main reasons for increased vacancies both in residential and commercial space.
  • [43:59] Hopping back into Terrie’s story, she shares how martial arts and kickboxing showed up in her life to the competitive level that it did. Terrie found that the work necessary to achieve the level she desired required a shift in her mindset from the ground up that rippled out into all aspects of her life. This began to change how she occurred in the world.
  • [46:08] Nature and nurture. Naturally a competitive and embodied individual, in her early twenties Terrie began to realize her mindset and the mental health issues she was experiencing were barriers to her success. She began to not only study ways to optimize mental habits for success and examine the mental conditioning required but also how to feel fulfilled within it.
  • [50:23] Terrie talks about her work as a coach, both in the space of real estate investing and in martial arts, specifically female athletes who want to elevate their game.
  • [51:29] Going back to Terrie’s challenges with mental health in her early twenties, she discusses the two different types of anxiety and the derealization that was occurring for her with persistent panic attacks. It is an acute moment of terror only it is not related to anything in the way a phobia might be. Terrie shares the steps she took and can be taken to overcome anxiety, a big part of which is cognitive behavioural therapy. The good news it is one of the easiest mental health problems to fix if you deal with it.
  • [58:08] The future state of Terrie Schauer. As an industrious goal setter what does Terrie envision for her life going forward? She discusses her participation in and subsequent withdrawal from the “bank account Olympics” by reframing her priorities, mindset, and needs. Being of contribution has become the guidepost.
  • [61:00] Writing her book Mindful Landlord was a dream project for Terrie. She talks about the driving factors behind creating it and the process of structuring and producing it.
  • [62:35] Terrie shares her rich perspective of success and happiness.
  • [69:39] Significant forks in Terrie’s road have primarily come in the form of books. Being introduced to these influential ideas opened doors in her head that allowed her framing to expand and interpretation to improve. A growth mindset allows you to acquire the plasticity to react in an optimal way to things you meet and elevate your experience.
  • [72:48] Terrie shares her information ingestion style.
  • [74:41] Let’s kick it into the rapid fire: Terrie’s self-care practices; journal or no journal; favourite and gift-worthy books; iPhone or Android; a job she does even though she dislikes it; favourite swear word en francais; message at the pearly gates; what she’s not very good at; room-desk-car; German rap music; favourite movie.
  • [79:15] Terrie’s gratitude.

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