In this episode of The BLD Financial Podcast, we’re joined by Michal Wach, a real estate investor, tax accountant, and coach who has been investing since 2008.

Michal shares how he built a portfolio that includes a Muskoka luxury cottage, navigated multiple market cycles, and transitioned into tax advisory for investors and self-employed Canadians. They unpack common mistakes investors make with taxes, incorporation, and structuring, and explore how smart planning and professional guidance can protect and grow wealth.

In this episode, we explore:
✅ How Michal started investing during the 2008 financial crisis and built long-term wealth through rental properties
✅ Lessons from 15+ years of market cycles, including the explosive 2019–2021 boom and today’s correction
✅ How social media has turned everyday investors into “economists” tracking CPI, job reports, and bond yields
✅ Why tax strategy is the most overlooked element in real estate investing
✅ Common mistakes investors make: unfiled taxes, poor bookkeeping, and rushing to incorporate
✅ When incorporating makes sense and when it can actually hurt your portfolio
✅ Advanced structures like family trusts and holding companies: who really needs them
✅ Debunking myths around capital gains, double taxation, and long-term planning
✅ Why transitioning from real estate investing to owning an active business can accelerate cash flow and wealth

Whether you’re a beginner investor, scaling a portfolio, or looking to optimize your tax strategy, this episode delivers actionable insights to help you make smarter decisions and protect your financial future.

Who is Michal Wach?
Michal Wach is a husband, father, accountant, and real estate investor. Alongside his wife Anna, he owns and manage multiple investment properties in Southern Ontario, and has been investing since 2009.

Follow & Connect with Michal Wach:
Instagram - https://www.instagram.com/wachproperties/
LinkedIn - https://www.linkedin.com/in/michal-wach-cpa-ca-2955a37/
Website - https://wachproperties.ca/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360

“2025 was the year of volatility — but out of the chaos came stability.”

In this episode of the BLD Financial Podcast, Josh & Ehren break down what defined the Canadian real estate market in 2025—and what investors need to prepare for heading into 2026.

They unpack the interest rate shifts, CMHC policy updates, and bond yield movements that shaped the past year, and share actionable insights for navigating the multifamily, construction, and development sectors as the market stabilizes.

You’ll also hear their take on the rise of missing middle housing, why mid-size developers are leading the next wave of growth, and how to structure financing in a tighter lending environment.

Topics covered include:
✅ How CMHC’s premium and underwriting changes affect new projects
✅ The real impact of bond yields and policy shifts on cash flow
✅ Why lenders are tightening up even as rates fall
✅ The growing opportunity in missing middle housing
✅ Smart acquisition and refinancing strategies for 2026
✅ How to position your team and relationships for off-market deals

Whether you’re an investor, developer, or industry professional, this episode will help you understand the capital markets behind Canadian real estate and make confident, data-driven decisions for the year ahead.

Subscribe to the BLD Financial Podcast for more insights from Canada’s top investors, developers, and industry experts.

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360

“We’ve Killed the Condo Market.”

Toronto City Councillor Brad Bradford joins Josh & Ehren to break down how policy, red tape, and costs are choking housing supply — and what it’ll take to make Toronto buildable again.

Listen to the full conversation on Toronto’s housing crisis, missing middle development, and the future of affordability.

 In episode 16, urban planner–turned–City Councillor Brad Bradford shares how smarter planning, better policy, and collaboration can unlock housing affordability in Toronto.

Brad shares how his journey from the private planning world to City Hall—and a razor-thin election win by just 286 votes—shaped his belief that the only path forward is through supply-driven solutions, not political posturing or red tape. We unpack Toronto's “missing middle” opportunity, the disconnect between planners, politicians, and developers, and the urgent need to modernize the city’s housing framework. We discuss the economic, social, and policy levers needed to restore balance and affordability in one of North America’s most expensive markets.

In this episode, we explore:
✅ How Brad’s background in urban planning led him to challenge City Hall’s “culture of no”
✅ Why bureaucratic red tape, not developers, is the biggest barrier to housing supply
✅ How the “missing middle” could solve Toronto’s affordability crisis
✅ Why government fees and taxes now make up nearly 30% of a home’s cost—and how to fix it
✅ Why condo projects are slowing down and how small builders can seize the opportunity
✅ The dangerous rise of anti-development politics and how it drives prices higher
✅ Why leadership means managing change, not avoiding it
✅ How empathy, collaboration, and trial-and-error policymaking can rebuild public trust
✅ The connection between policy, capital, and supply, and why alignment is critical

Whether you’re a developer, investor, or policymaker, this episode takes a look at what it will take to make Toronto buildable again.

🎧 Listen & Subscribe:
 Find the BLD Financial Podcast on Apple Podcasts, Spotify, Amazon Music, or wherever you get your podcasts. 

Who is Brad Bradford?
Brad Bradford is the City Councillor for Ward 19, Beaches–East York. With experience as an urban planner, Brad has been the driving force behind important housing initiatives like accelerating and streamlining the approvals process, enabling office-to-residential conversions, building more modular housing, increasing density on major streets and avenues, eliminating the “wedding cake” angular plane from midrise buildings, and reducing the cost to build purpose-built rental homes and multiplexes.

Follow & Connect with Brad Bradford:
Instagram - https://www.instagram.com/bradfordgrams/
LinkedIn - https://www.linkedin.com/in/brad-bradford/
X - https://x.com/BradMBradford
Facebook - https://www.facebook.com/BradMBradford/
Website - https://www.toronto.ca/city-government/council/members-of-council/councillor-ward-19/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360

Nick Hill shares a warning every Canadian real estate investor, broker, and entrepreneur needs to hear about the future of AI, Universal Basic Income (UBI), and the direction of Canadian real estate investing.

In the fifteenth episode of the BLD Financial Podcast, we’re joined by Nick Hill, Canadian real estate investor, mortgage agent, and co-host of the Canadian Real Estate Investor Podcast. From building one of Canada's top real estate podcasts to helping thousands of investors understand the market, Nick reveals lessons on consistency, community, and adapting to change.

This Nick Hill podcast episode explores:

 ✅ How Nick turned a niche podcast into one of Canada’s leading real estate shows
 ✅ Why COVID accelerated the growth of online real estate communities
 ✅ How AI tools like ChatGPT are changing investing, business, and society
 ✅ Opportunities in multiplexing, land assembly, and housing strategy
 ✅ What universal basic income (UBI) could mean for investors and markets
 ✅ The role of consistency in content, investing, and business growth

Whether you’re an investor, mortgage professional, or entrepreneur, this conversation is a playbook for adapting to change, building influence, and thriving in the future of real estate.

Subscribe to the BLD Financial Podcast for more conversations with Canada’s top investors, entrepreneurs, and developers.

Who is Nick Hill?

Nick Hill is a Canadian real estate investor and host of The Canadian Real Estate Investor Podcast who simplifies complex strategies for everyday investors. From multiplexes to market trends, he shares insights that help both new and seasoned investors build wealth with confidence.

Follow & Connect with Nick Hill:
Instagram - https://www.instagram.com/mybuddynick/
LinkedIn - linkedin.com/in/nick-hill-337a8762
The Canadian Real Estate Investor Podcast: https://www.instagram.com/canadianrealestateinvestor/
Podcast: https://podcasts.apple.com/ca/podcast/the-canadian-real-estate-investor/id1634197127

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

What does it really take to scale from duplexes to ground-up developments? 

In the fourteenth episode of the BLD Financial Podcast, we’re joined by Bryan Bouchard, a seasoned investor and developer who has built a career helping Canadians navigate CMHC programs, construction financing, and multifamily development. From comparing CMHC construction loans to conventional financing to managing investor expectations and building teams, Bryan reveals the strategies that can make or break your development projects.

He shares why understanding capital structures, construction costs, and lender requirements isn’t just important, it’s critical for maximizing profit and reducing risk. From velocity of capital and takeout strategies to choosing the right markets and building-to-sell versus building-to-hold, Bryan brings practical, no-nonsense insight for real estate investors looking to grow beyond the first few units.

In this episode, we explore:
 ✅ Why CMHC construction debt can make sense even with higher premiums
 ✅ How conventional financing compares, and when it might work better
 ✅ The importance of capital velocity, equity, and cash flow in development projects
 ✅ Investor communication: why transparency builds trust and fuels future growth
 ✅ Choosing the right markets for development: tertiary cities, emerging opportunities, and risk mitigation
 ✅ Building-to-sell vs. building-to-hold strategies for scaling portfolios
 ✅ How design, construction, and financing all intersect—and why small mistakes can cost hundreds of thousands
 ✅ Lessons from scaling from house-hacks and duplexes to multi-million-dollar developments
 ✅ Why having a skilled team and hiring for gaps in your expertise is the ultimate growth advantage

Whether you’re a new investor looking to buy your first rental or a seasoned operator ready to scale to ground-up development, this conversation is a masterclass in navigating financing, scaling smartly, and building profitable, sustainable real estate projects.

Who is Bryan Bouchard?

Bryan Bouchard is an entrepreneur, an avid real estate investor, and a High-Performance Coach located in Toronto, Canada. With limited guidance, Bryan’s career began as a construction worker before becoming a professional poker player, a Toronto firefighter, and ultimately working with the right mentors to become an entrepreneur, seasoned investor and educator. Bryan has helped hundreds of people across Canada and the United States to increase their income, transform their bodies, and most importantly, build unbreakable habits through deliberate self-development practices. Mr. Bouchard is the President of a holding company which owns private businesses including real estate acquisitions, property management, personal and professional education, and real estate development. Bryan’s core belief is to first master our own self by building our mind, building our body and building our wealth before pursuing our true purpose, which involves making an impact on the people and the world around us.

Follow & Connect with Bryan Bouchard:
Instagram - https://www.instagram.com/bryan.the.investor/ 
LinkedIn - https://www.linkedin.com/in/bryan-bouchard-pic/
Website - https://www.bryanbouchard.com/

Follow & Connect with Passive Investing Canada:
Instagram - https://www.instagram.com/passiveinvestingcanada/
Website - https://passiveinvestingcanada.com/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

What does it really take to navigate rising insurance premiums?

In the thirteenth episode of the BLD Financial Podcast, we’re joined by Samuel Castillo, an expert in multi-family and builder’s risk insurance who’s built a career helping investors protect their assets and their bottom line. From understanding loss ratios to navigating CMHC requirements, Samuel reveals the strategies and hard truths that can save—or cost—investors thousands.

From builder’s risk rates and surety bonds to the impact of inflation and tariffs on premiums, Sam brings deep industry knowledge and a practical, no-nonsense approach to risk management. He shares why paperwork is one of the most overlooked profit levers in real estate—and why, if it’s not your strength, you should hire someone who can master it for you.

In this episode, we explore:
✅ Why insurance premiums are rising for investors in today’s market
✅ How inflation, tariffs, and skilled labour shortages are impacting rates
✅ Loss ratios explained—and why they matter for every project
✅ Builder’s risk rates, surety bonds, and replacement cost vs. cash value
✅ CMHC insurance requirements every multifamily investor should know
✅ The biggest mistakes investors make with insurance (and how to avoid them)
✅ How $10K in premium savings can transform your ROI
✅ Why doing what you’re good at—and hiring for the rest—is the ultimate investor advantage

Whether you’re a new investor buying your first project or a seasoned operator managing a portfolio, this conversation is a masterclass in protecting your investments, reducing risk, and making smarter, more profitable decisions.

Who is Samuel Castillo?
Samuel Castillo is a Financial Advisor and Mutual Fund Investment Specialist with Co-operators Insurance, dedicated to helping Canadians achieve their financial goals for over 9 years.

At his office, Samuel and his team create customized plans designed around each family’s unique needs—whether that’s building long-term wealth, protecting assets, or planning for the future. His approach goes beyond simply recommending products; he coaches clients so they fully understand what they’re investing in, empowering them to make informed decisions with confidence.

Passionate about doing things the right way, Samuel believes true wealth is built through clarity, consistency, and trust. His mission is simple: help families build wealth with confidence, and build wealth the right way.

Follow & Connect with Samuel Castillo:
(905) -978-9721
Instagram - https://www.instagram.com/sammytillo/
LinkedIn - https://www.linkedin.com/in/sam-castillo-9a093253/
Website - https://local.cooperators.ca/samuel-castillo-associates-en

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

What does it really take to go from maxxing out your credit cards for a downpayment on a 2-bedroom house to doing a $1M renovation on a 32-unit apartment building?

In the twelfth episode of the BLD Financial Podcast, we’re joined by multifamily real estate investor & developer Carlos Afanador. With a track record of scaling from student rentals to midsize multifamily properties without partners, Carlos has built a multimillion dollar real estate portfolio. 

From executing a $1M renovation on a 32-unit building to navigating MLI Select financing and commercial lending strategies, Carlos brings hands-on experience, creative deal-making, and a deep understanding of value-add investing in today’s complex market.

Carlos shares how he bought his first student rental, added value through densification, left his corporate tech job, and became financially free at 26. From BRRRRs to commercial financing and midsize multifamily plays, he’s done it all and learned what it really means to be an operator.  

In this episode, we explore:
✅ How Carlos scaled from student rentals to midsize multifamily with no partners
✅ Why densification is the next frontier for value-add investors
✅ Lessons from a $1M renovation on a 32 unit building 
✅ The real risks of overleveraging and why reserves matter more than ever
✅ How commercial financing opens doors residential loans can’t
✅ Why Canadian real estate still holds massive potential for those willing to adapt, innovate, and get a little uncomfortable

Whether you’re just getting started or scaling into midsize assets, this episode is packed with no fluff advice, and a masterclass in creative investing.

Who is Carlos Afanador?

Carlos Afanador is a self-made real estate investor and developer who scaled from student rentals to midsize multifamily acquisitions without relying on partners or outside capital. After leaving a career in tech sales, Carlos went all in on real estate just before the pandemic and reached financial freedom at the age of 26.

Carlos is part of a new wave of Canadian investors reshaping the multifamily space through densification, creativity, and grit.

Follow & Connect with Carlos Afanador:
Instagram - https://www.instagram.com/carlos.afanadoors/
LinkedIn - https://www.linkedin.com/in/carlos-afanador/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

What’s the real reason most real estate development projects fail?

In the eleventh episode of the BLD Financial Podcast, we sit down with Ryan Valente, a hands-on real estate developer with over 15 years of construction experience and a growing portfolio of mid-sized multi-family projects across Toronto. From custom home building to CMHC-financed 4-plexes, laneway suites, and now an 18-unit build in High Park—Ryan has lived every phase of the development cycle.

In this episode, we dive into:

✅ Ryan’s journey from high-end custom home builder to full-scale multi-family developer
✅ The reality of construction risk, cost overruns, and why execution is everything
✅ How Ryan navigated CMHC’s MLI Select program (and the setbacks they never tell you about)
✅ Raising capital, working with high-net-worth partners, and structuring long-term portfolios
✅ The painful disconnect between bureaucrats and builders—and what needs to change
✅ Tips for new developers: why your builder might be your biggest risk
✅ Parking-light design, transit-oriented sites, and lessons from building in Toronto’s west end
✅ How to scale responsibly, partner wisely, and survive policy shifts, interest rate swings, and financing delays

If you're a builder, investor, or aspiring developer navigating the missing middle, this episode is a must-listen. Ryan doesn’t just talk about development—he’s in the trenches, building smarter, leaner, and for the long haul.

Follow & Connect with Ryan at Reside Properties:
Instagram - https://www.instagram.com/reside_properties
TikTok - https://www.tiktok.com/@reside_properties 
Website - https://www.resideproperties.ca/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

Is the war on real estate developers finally coming to an end?

In the tenth episode of the BLD Financial Podcast, we’re joined by Josh Kaufman, one of the most experienced minds in Canadian real estate development. With over three decades of leadership across firms like Starlight Investments, Dream, and Rogers, and a portfolio that spans residential, commercial, and industrial sectors across multiple provinces, Josh brings unmatched perspective to the table.

In this episode, we explore:
- Josh’s early roots in homebuilding and how growing up on job sites shaped his career
- Lessons from working with SmartCentres, Dream, and Starlight on projects across Canada
- The founding of InnoDev and why now is the most opportunistic time for mid-market developers
- How shifting municipal attitudes and policy changes are creating a "golden age" for housing development
- Insights on development financing, CMHC programs, and why collaboration—not conflict—is the future of city building
- The rise of missing middle housing, parking-light developments, and how smart, mid-rise projects are transforming urban communities
- Why developers must become educators and partners with municipalities to solve Canada's housing crisis
- The importance of innovation, deal flow, and long-term thinking in today’s market

Whether you're a developer, investor, or simply interested in how real estate is evolving, this episode is packed with practical wisdom and forward-thinking ideas about building better cities—and better outcomes for all.

Who is Josh Kaufman?

Josh Kaufman brings over 30 years of dedicated experience in the real estate and land development industries across Canada and the United States. Throughout his real estate career, he has held senior roles in project management, development and construction at Canada’s leading industry recognized companies, including Rogers Communications, SmartCentres, Dream, Fusion Homes, and Starlight Investments.

Josh’s expertise spans multiple sectors, including single, and multi-family residential condominiums and purpose-built rentals, retail and commercial, industrial, and infrastructure. He has developed properties in several municipalities throughout British Columbia, Alberta, Saskatchewan, and Ontario, bringing a deep understanding of diverse regional markets.

Josh holds a Master’s in City and Regional Planning from The Ohio State University and a Bachelor of Art’s in Geography from the University of Western Ontario. Currently, he serves on the Advisory Board for Moskowitz Capital Management and is the Past President and current Board Member of the Guelph and District Home Builders’ Association. He also actively volunteers with Habitat for Humanity and Covenant House.

Follow & Connect with Josh Kaufman:
LinkedIn - https://www.linkedin.com/in/josh-kaufman-96326816
E-mail - [email protected] 
Phone - 416-917-3121

Follow & Connect with InnoDev Partners:
Website - https://www.innodev.ca/
LinkedIn - https://www.linkedin.com/company/innodevpartners/
Instagram - https://www.instagram.com/innodev.partners

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/@bldfinancial

DLC National License: 12360
  
#CanadianRealEstate #multifamilyrealestate #realestatedevelopment

Ever wonder what factors real estate appraisers utilize when calculating the value of a multifamily property? 

In the ninth episode of the BLD Financial Podcast, we sit down with Graham Morrison, Principal, Senior Director, Valuation & Advisory Services at Avison Young, to talk about the key factors driving multifamily real estate valuations in the GTA.

Graham shares how appraisers calculate cap rates, including the critical role of location, unit count, and historical market data. Graham shares insights into the latest trends in commercial real estate, CMHC appraisal process, and the impact of shifting vacancy rates on investment strategies.

Who is Graham Morrison?

Graham Morrison is the Principal and Senior Director of Valuation & Advisory Services at Avison Young. Beginning his career in 2013 as a residential appraiser, he spent three years in the field before his small appraisal firm was acquired by Avison Young in 2016. Since then, he has specialized in commercial valuations. 

Connect with Graham Morrison:
LinkedIn - https://www.linkedin.com/in/morrisongraham/
Website - https://www.avisonyoung.ca/professionals/-/ayp/view/graham-morrison/in/toronto-north
Avison Young LinkedIn - https://www.linkedin.com/company/avison-young-commercial-real-estate/

Follow & Connect with Josh & Ehren:
Instagram - https://www.instagram.com/bldfinancial
Facebook - https://www.facebook.com/BLDfinancial
YouTube -  https://www.youtube.com/channel/UCHyUMXqdg7zMJgjmFJpUfqg 

DLC National License: 12360

#CanadianRealEstate #MultifamilyRealEstate #PropertyValue