Episode 142 – Taylor Steele – Walking the Talk

“I think that grind and that process of those real estate meetings late at night after a full day of work and making that trek to Edmonton, that’s the stuff that I think people don’t see in the business. They see we raise these deals; we raise $500,000 for a deal; they don’t know what it took for those clients to trust us with their money and understand what we do enough to believe in us.” – Taylor Steele  

  • [02:08] Patrick introduces his next TEDM guest, Taylor Steele.
  • [03:22] Taylor and Patrick get rockin’ with a bit about what Taylor does, his start in the business of real estate and real estate investing and where he is now with IRR, the company he co-founded with Cynthia Aasen (former TEDM Guest!)
  • [05:28] Taylor explains the entrepreneurship designation he studied within his marketing management program at BCIT (British Columbia Institute of Technology). Growing up in a strong entrepreneurial family, Taylor was excited to dive into it in an educational setting.
  • [08:14] Clarity through process of elimination: no NHL career, no pro golf career, spending summer breaks trying on different job sectors, Taylor’s path ultimately led him into entrepreneurship and full time in the world of real estate.
  • [11:00] Taylor offers guidance from his experience, about owning and running a business, mentorship, and the importance of designating the right roles to the right people.
  • [16:56] What is the driver and the why for Taylor? What lights him up about what he does?
  • [19:25] Leading two investment companies – real estate investment brokerage and private equity exempt market dealers – Taylor and his partners are able to offer a wide range of accessible opportunities to their clients which don’t always require a large monetary investment.
  • [23:54] Taylor explains where they’re actively working and investing in the U.S. and the places that work really well, with a great track record for their investment clients.
  • [28:56] Economically speaking, Taylor offers his boots-on-the-ground viewpoint of what’s happening in the U.S. and the migration of people and businesses from increasingly unaffordable or undesirable states to more approachable ones.
  • [31:25] Taylor illustrates the way in which they mitigate risk and provide growth with their particular investment approach.
  • [36:00] From the millennial standpoint, where many don’t see themselves being able to own real estate, Taylor provides ideas for simply getting started and getting your money to work.
  • [40:44] Patrick and Taylor discuss the growing number of baby boomers gifting their wealth to the next generation, and how that may potentially be used to get into the real estate market. Taylor expands on the potential restrictions on the private equity side, that a new investor would need to consider.
  • [43:18] Self storage and car washes! Taylor takes us down the road of a British Columbia based development group they work with who specialize in re-zoning development sites for self storage facilities and car washes.
  • [46:49] With the ever-changing landscape of the world and the movement to work-from-home, Taylor offers his perspective from the lens of sales, rentals, commercial office space and actually, the recovery of downtown cores.
  • [53:44] Taylor discusses his vision for the future of IRR, their focus on prioritizing technology development, and extending the baton of opportunity that was offered to him, now to one of his good friends to work with IRR and build his own business.
  • [60:51] Journey to the outcome. Taylor talks about some of the less-than-ideal moments along the way so far, that were a necessary part of building relationships and trust with potential clients and the rewarding outcomes of the time spent.
  • [67:10] Does Taylor experience much in the way of comparison to his dad, Dave Steele?
  • [69:07] Taylor shares how he looks after his self-care in support of his overall health and wellness.
  • [71:36] Winding down to the rapid-ish fire questions: a great book recommendation; paper book or audio; iPhone or Android; favourite inspirational quote; favourite swear word; experience at the pearly gates; where he’s at on the weirdness scale; what he’s not very good at but keeps trying anyway; room-desk-car; favourite band; favourite movie for a good laugh.
  • [75:54] Taylor’s gratitude.

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