“Love extravagantly, work usefully, live joyfully.” – Mark Warkentin
Mark Warkentin grew up deeply connected to his family and his faith. With his father a pastor, the family moved around as the need arose, bringing them to California and many different cities and towns in western Canada. Mark considered a degree in engineering but eventually felt called to law and attended school at the University of British Columbia.
Mark is a founding partner at Linley Welwood LLP, the current president of the Abbotsford Chamber of Commerce, a member of the Abbotsford Police Board, a real estate investor and a long-term member of the Real Estate Investment Network. His legal practice covers a wide spectrum of expertise including the many areas and nuances of real estate, business transactions, financing, corporate, and commercial law. His work in public service feeds his desire to contribute, give back and be an active part of his community.
First and foremost, Mark is a committed husband of 23 years to Brenda and a father to two children all of whom do their own extraordinary work. He maintains the deep roots set down by his early life experiences as a part of the faith community in Abbotsford.
Mark has always had a natural curiosity which has prompted him to become an intentional and thoughtful person who takes deliberate action. Mark is quick to share his experiences, knowledge and insights with investors, clients and podcast audiences alike and finds joy in the contribution he can be to the people in his life.
Show Notes [02:12] Patrick introduces his next REIN Member guest in person at the poolside studio: Mark Warkentin [03:40] Patrick and Mark dive in to their conversation! [04:05] Mark’s elevator pitch – who is he, and what does he do? [05:50] A brief run-down of where Mark hails from and went to school. [06:49] The dinner-table “lawyer’s club” was the first spark that fuelled Mark to pursue law school. [07:54] With his Dad’s work as a pastor, and his Mom’s involvement in the church, Mark’s family of five was connected to their faith community from BC to California then back to Alberta and Saskatchewan. [09:11] Did the moral compass of growing up as a pastor’s son direct Mark towards or away from his faith as he became an adult and started considering his own path? [10:53] Once Mark chose the legal track he jumped in cold and learned as he rolled (a tactic he’s not quick to recommend to his current students). [12:53] Mark explains a bit about the qualities of a good litigator. [14:43] Merging two law firms to start his first practice proved to be a whole new training ground for Mark with some tricky infrastructure to navigate through. [17:19] Mark shares key points from building his business: know, like, and trust who you’re going into business with; trusting and mindfully acting on your instincts with hiring and firing; investing in young talent; work on your business, not just in your business. [20:13] Patrick and Mark riff on partnerships, whether they are co-ventures with partners or joint ventures in real estate; the partnership is not just about the transaction, it’s about who you’re in it with. [21:21] ATTENTION REAL ESTATE INVESTORS! Big joint venture learning moment ahead...Mark runs through a joint venture checklist for the real estate investor listeners. The overarching learnings – keep it simple and keep your ego in check. [27:20] The importance of knowing where your joint venture capital is coming from to protect all parties. [29:29] Before entering the deal, ensure your “money partner” is looked after, ensure you understand their risk tolerance and that all parties know where they stand if the market does not perform well and the asset decreases in value. [31:55] Getting back to Mark, he delves into his relationship with his wife Brenda, how they met and the significant role she plays in his business. [34:52] The deliberate way Mark and Brenda show up for each other a...