On today’s show I invited my good friend Christian Szpilfogel to discuss the sad truth about real estate in managing and recovering distressed assets, understanding the root causes and having proactive strategies.

We discussed the risks of private lending, the responsibilities of the borrowers.  Christian has the unique perspective of having worked in a heavily securities regulated environment of Mergers and Acquisitions when he was a general manager under one of Canada’s richest Canadians only to see the wild, wild west that is real estate investing where some investors openly violate securities laws in soliciting the public for capital even offering guaranteed returns.  

The last time I heard “guaranteed returns” was from the owner of a now bankrupt company and he’s on the run from the cops.

Christian being one of the good guys in real estate, I thought he was ideal to text at 9:30am to come on the show for 10:30am to talk about losing money.  Christian is the owner of the Aliferous Group where he invests his and only his family’s own money, he has no courses to sell, no coaching to sell, he’s not accepting OPM other than the bank’s, he just wants to help people.  It’s why we get along so well.

Christian is also Vice President of OREIO, the Ottawa Real Estate Investing Organization, a non-profit, membership based educational organization.  Annual membership is only $127, I’m a member too and the value is unmatched. https://www.oreio.org/Membership

I’ve included some links to news sources in the show notes as well.  Sadly, I saw investors go belly up in 2008 in the financial crisis, we’re seeing many have problems today and we’ll see this happen again because some didn’t learn from history.  So please take this chance to learn from history else be doomed to repeat it.  Also watch out for confidence artists, note that con artist is short for confidence artist.

Please keep your investments safe and enjoy the show.

 

From the Globe and Mail article: 

https://www.ksvadvisory.com/experience/case/SID

https://www.cbc.ca/news/canada/hamilton/investors-bankruptcy-1.7102325

https://www.theglobeandmail.com/canada/article-former-ytv-child-actors-northern-ontario-real-estate-empire-files-for/