On this week's episode of the Property Hustlers Show, we are joined by a special guest Michael Kramp who is a property manager, co-founder of Walcott Property Management, and a Canadian real estate investor who is venturing out into flipping houses in Ontario.

Michael started out working as a car salesman but found himself wondering how to get into real estate investing and got into it through property management. Starting in real estate can be hard especially when you're starting as young as he was, Michael decided the best thing for him was to get into real estate education and that is how he ended up taking our courses. 

Since Michael started when he was only 20 he was faced with some disadvantages of real estate but he did not let that stop him from following through with his goals. Getting into real estate Michael started with the Brantford Ontario real estate market but now finds himself also working in the Hamilton real estate market and Toronto real estate market. Working in Brantford real estate he has established some strong joint venture partnership however with real estate investing in Ontario he has seen some joint venture failure. With all of his experience, Michael is now looking into house flipping Ontario and not limiting himself to working in one city.

Despite his age, Michael now has invested in over 300 units and is making money in real estate. Something he deals with quite a bit is cash for keys, the cash for keys agreement is when the landlord offers the tenant something of value, usually money, in exchange for the keys to the rental unit. Michael handles these interactions with a lot of care for the tenants given the circumstances. 

 

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00:00 Intro
1:03 How long have you been in real estate? 
2:23 Was getting into real estate what you were looking for?
6:24 Does being young serve as an advantage or disadvantage?
11:55 Do you think being a property manager makes you a better real estate investor & vice versa? 
16:53 Legal system
19:28 Building behind-the-scenes connections
20:49 Has building these connections led to you getting a deal on a property?
21:38 what are some ways you are able to generate revenue through property management 
24:29 Has any of these relationships led to any JVs?
26:25 What does your day-to-day look like?
28:25 What's next?