Multifamily Moguls

In this episode, we cover:

• How Chris Miles found his way in real estate investing. He started out as a traditional financial advisor. But shifted his focus to real estate investing because he realized that saving money in mutual funds isn’t going to help people become financially free.
• Chris describes his first real estate investment deal to be the best and the worst. It was with his starter home as a financial advisor. He was creative enough to find a way to get all the equity out and still maintain control of the property. But then it got trashed and had to spend on cleaning up the house.
• Cash flow and profit are key. Chris advises anyone in real estate investing to only do the kind of investing that lights them up and lets them have fun. This is how you’ll know you’re in the right place.
• Chris says he’s not buying into the hype. He considers this attitude to contribute to his success as an investor. He says he’s curious and asks questions but he is not somebody having dollar signs in their eyes and taking unnecessary risks.
• Saver mentality doesn’t equate to financial freedom. People with a saver mentality will never become financially free. Find out where your money is trapped and get it out. Invest it.
• Striking a balance between investing and cash reserves. As tempting as it is to deploy everything in investment, Chris tells people to at least have six months of cash reserves on the sidelines.
• Money Ripples is all about Chris being a teacher. He loves teaching people to have hope. He teaches people to deal with money in a different way than we've always been taught by financial advisors.

Resources and links mentioned: 

Darren Mitchell - MGM Wealth

Connect with Chris Miles:

Website: https://moneyripples.com/

Podcast: https://podcasts.apple.com/us/podcast/the-chris-miles-money-show/id895555599

About Chris Miles

Chris Miles is a cash flow expert and an anti-financial advisor. He is the co-founder of Money Ripples. He actually started out as a financial advisor 20 years ago and left the industry to become a mortgage broker in 2006. He managed to become financially independent twice by the time he reached 39. He focuses on creating passive income today and achieve financial freedom safely in the future. He loves being a leader and a teacher.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/ 

Email: [email protected] 

In this episode, we cover:

• How Shawn started in real estate investing completely by accident. When he moved to Windsor, he bought a house and decided to rent out some of the rooms to other law students. He then bought another one near the University to offer value to the students who need a good place to live but also generate a return on investment.
• Shawn combined his passions of real estate investing and applying his law degree as a real estate lawyer. He’s currently working with Ryan Carson at Carson Law. At the same time, he has a couple of multifamilies out in Eastern Canada and a pre-construction project in Toronto.
• The difference between a typical real estate lawyer versus a real estate investor lawyer. There are many real estate lawyers within ten blocks and they’re closing transactions for people who want to buy their homes. A real estate investor lawyer is someone who practices investing for himself. He understands how it feels to be a property buyer or investor because he also experiences it.
• Shawn elaborates on the different corporate structures available for different sorts of real estate deals. A joint venture agreement is the most efficient but least secure because it relies only on trust between the parties involved. Holding property in a corporation and having investors invest equity into that corporation and receive shares is a more secure way but it’s a little more complex.
• Shawn shares his thoughts about incorporating, when is the best time to get incorporated, who are the persons involved in the discussion.
• Shawn’s advice to someone searching for the right lawyer to represent them. Questions to ask are how many rental properties do you want, have you invested in real estate before, what’s your experience with real estate investing. Find people who are doing deals.

Resources and links mentioned: 

• Carson Law Office Professional Corporation
• Complete Taxation Guide to Canadian Real Estate Investing

Connect with Shawn Quigg:

• Email: [email protected]

About Shawn Quigg

After Shawn earned his law degree, he decided to take on another passion of real estate investing. Being a real estate company owner and an active investor, he has the right balance of someone who is in the industry and also knows the complexities of investing while also knows the legal aspects of it and how to handle them. Shawn is currently a real estate investor lawyer at Carson Law Office Professional Corporation.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/ 

Email: [email protected] 

In this episode, we cover:

• How Mark started off in real estate investing. Mark has a background in marketing and business consulting. He had his own firm but chose to exit from it four years ago. He started investing in commercial space, multifamily then jumped into the building along with his partners.
• Mark’s first real investment deal was meant to be a wholesale deal. He learned strategies from a training program in the US and tried them out in Canada. He ended closing a deal out of his own neighborhood after four months of putting up signs and paying for advertisements.
• Mark shares his transition from working full-time to becoming a real estate investor. He believes that in real estate if you operate it as a business there’s a higher chance that you’re going to succeed. Operate it like a hobby or something on the side and it will fail.
• Mark’s advice to someone interested in investing in the multifamily space. He says that anyone can do it. Have the right mindset because that’s the biggest roadblock and figure out your biggest “why”.
• Mark elaborates on his mindset secrets. He says that patience is important because some deals are more than others. Don’t let the numbers hold you back. Surround yourself with the right people and let your fears and hesitations disappear.
• The biggest lessons that Mark learned as a multifamily mogul. He emphasizes the importance of having the right team members on your team. Work with the right people who have the right experience and always do the right thing. He mentions that he regrets not starting on real estate investing a lot sooner.
• The most successful multifamily project that Mark had. It was a property that was listed for 400 days already and they ended up closing the deal for $200,000 under market.

Resources and links mentioned: 

• Real Estate Investment Network (REIN): https://reincanada.com/
• Multiple Listing Service (MLS): https://www.realtor.ca/mls

Connect with Mark Baltazar:

• Website: https://peakmultifamily.ca/
• Facebook: https://www.facebook.com/Mark-Baltazar-709723302798371/photos/
• Instagram: https://www.instagram.com/mark_baltazar/?hl=en
• LinkedIn: https://www.linkedin.com/in/mark-baltazar/

About Mark Baltazar

Mark Baltazar has a marketing and business consulting background where he worked for nearly 20 years, collaborating for growth with the world’s leading brands. He has a determined focus on achieving more and is a true believer that our decisions today will impact our future generations

Mark is one of the co-founders of Peak Multifamily Investments. Having been in the business for numerous years, he has transacted over $50 million in real estate and withholdings of nearly $20 million. He has been awarded the Multifamily Winner of the Year, the Top Player Award, and the bronze, silver, and gold Multifamily Investor Award by REIN. 

Connect with Adam Stelmach:

Website: https://adamstelmach.com/ 

Email: [email protected] 

In this episode, we cover:

• Randy’s roadmap to becoming a real estate investor. After two years of becoming an electrician, he bought his first rental property. He took a course on real estate investing and got his start in single-family homes after six months. They have now scaled up into large development properties together with his partner, Steve.
• Randy talks about his first investment deals. He bought townhouses once every six months. Realizing he didn’t want to live with strangers anymore, he pitched on a half-duplex house and got into the deal.
• Randy went on a self-development journey. He took workshops and invested heavily in himself to learn more. He went all-in on himself and on his investor self.
• Randy’s advice to someone who’s about to embark on the real estate investing journey. The biggest thing that pushed Randy was living, breathing, and eating real estate. He became obsessed with learning about developing properties. The biggest thing is to have a mentor.
• The factors that contributed to Randy’s success. Having their own community was one of his biggest successes. His background in construction enabled him to bring value to working with developers.
• How to get started in the development space. Aside from finding a partner, Randy was told to go talk to the city if he wanted to find deals. Get acquainted with the city and learn what needs to be learned from it.
• Randy shares that one of his most successful deals is a triplex. They bought it for $500,000, spent over $100,000 in construction, and got appraised by the bank for $800,000. The property sells on the market for about $900,000 today.

Resources and links mentioned: 

• Rich Dad Poor Dad: https://www.richdad.com/
• Rae Ostrander: https://raeostrander.com/
• Keyspire: https://www.keyspire.com/
• TLA Developments: https://www.tladev.ca/

Connect with Randy Molland:

• Website: https://thereinvestors.ca/
• Facebook: https://www.facebook.com/randy.molland
• Community: https://www.facebook.com/groups/thereinvestors/

About Randy Molland

Randy Molland is the co-founder of a real estate investment and education company called The REInvestors. He paired his background in electrical trades and construction with his passion and knowledge in real estate investing. He is inspired to help everyday people understand the value of investing in real estate. His true passion lies in the bigger mission of wanting to inspire people with their go-big-to-give-big moment where they can encourage others to go bigger with their dreams and goals so they can give bigger to those around them.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/ 

Email: [email protected] 

In this episode, we cover:

• Shane currently focuses on development projects, retail, industrial and multifamily. He has been in the industry for 15 years. He got better at raising money, finding opportunities, and finding partners.
• How Shane made the transition from working full time to flipping homes, and eventually getting into the commercial space. His father-in-law took him in the family company and showed him the entire process of getting into real estate investing.
• A piece of advice for someone starting to invest in multifamily or commercial real estate is to find someone that has experience. The only way to know if a deal is good enough is to have a little expertise.
• The factors contributing to Shane’s success as a real estate investor. One is to get to know who the players are in the local markets that you’re investing in. Another is to not be afraid to do the most mundane things. Shane does cold calling in finding opportunities.
• How to get into the development space. Before diving into this type of opportunity, make sure you have people around you that can protect you and your assets. But nothing beats partnering up with someone who has the expertise.
• Finding investment opportunities in the US. Get a good grasp of the markets by spending some time learning about them, touring the properties, and making contacts. 
• One of Shane’s most successful deals. It was an industrial land that he bought for around $2.7 million. He built it and the total cost was $9.3 million and he ended up selling it for over $11 million within a period of 16 months.

Resources and links mentioned: 

• Club Syndication by Shane Melanson: https://shanemelanson.com/pdf-book/free-book/
• The Real Estate Game: The Intelligent Guide To Decision-Making And Investment by William J. Poorvu and Jeffrey L. Cruikshank: https://www.amazon.com/Real-Estate-Game-Intelligent-Decisionmaking/dp/068485550X

Connect with Shane:

Website: https://shanemelanson.com/home

About Shane Melanson

Shane Melanson is a commercial developer based in Calgary, Alberta. He helps high-income earners convert their income into cash flow through investing in commercial real estate. He has completed more than $70 million in real estate projects and has invested across Canada as well as the southwestern United States.

Shane is the author of Club Syndication, How the Wealthy Invest Their Money. He also hosts his own podcast, The Investing Advantage Podcast.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/

Email: [email protected]

In this episode, we cover:

• How Rochelle and Alisa started in the real estate investing business. It was in 2013-2014 with her partner Alisa Thompson. They were working full-time and didn’t know any real estate investors or landlords. They took courses on real estate investing to learn how to do the business.
• The Hassle-Free Landlord Program is a win-win agreement. It is an agreement where the investor gets to own the property. At the end of the two-year contract, the investor can sell the property back and may want to be out of the deal. The partners get to keep the principal paydown.
• Finding the right general contractor to work with. Make sure to deal with people who are ethical, get referrals, and don’t take people at face value. Rochelle shares that she also relies on her gut feeling and vibing with people in choosing to hire the right contractor.
• Rochelle talks about the factors leading to her success and growing the business to managing over 500 properties. Education is on the top of the list, to continually evolve and be a sponge for knowledge. Mindset is also a big factor.
• Rochelle and Alisa’s personal development activities. Rochelle says the Hoffman process is mind-blowing.
• Management strategies for their huge portfolio. Departmentalize everything that their company does, and have heads of each. Rochelle mentions that they have to be good at delegation. They are also currently building their company’s own software.
• Recommendations for the average investor. It really comes down to having an answer to, “What are your goals and what are you working with?” Be realistic about who you are, what you want, and what you’re willing to give up.
• Rochelle shares that one of their most successful flips was their first flip because it was a foreclosure with $100,000 equity and they pushed the value by $100,000.

Resources and links mentioned: 

• Rich Dad Investing Courses
• Hoffman Institute Canada

Connect with Rochelle:

• Telephone: +13067177848
• Rochelle’s Facebook: https://www.facebook.com/rochelle.laflamme.9
• Epic Alliance Facebook page: https://www.facebook.com/epicalliancesk/
• Epic Alliance Instagram page: https://www.instagram.com/epicallianceinc/?hl=en
• Epic Alliance Website: https://www.epicallianceinc.com/

About Rochelle Laflamme

Rochelle Laflamme was an electrician working full-time before she began real estate investing seven years ago. She had a personal goal to retire at age 40. She is based out of Saskatoon, Canada. Rochelle is the co-founder of Epic Alliance. Its mission is to simplify and streamline residential real estate investing. Epic Alliance now controls over 500 residential properties worth over $130 million. The company is mastering the potential to create win-win opportunities for passive investing.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/

Email: [email protected]

In this episode, we cover:

• Cory’s very first investment deal in the year 2000s. It was a single-family house with a basement suite. Cory shares the cost and how much he rented it out. Then did a progression into multifamily from there.
• Cory's advice for someone who’s about to dive into investing in multifamily—research, follow people for inspiration, analyze, find a mentor.
• Factors contributing to the success of Cory as an investor in the multifamily space.
• How Cory managed to survive and protect himself from the downturns of the real estate classes that he had been investing in. He started with a well-selected property, having solid management in place and a substantial reserve fund.
• An investor in multifamily space must understand the pro forma and apply this to expense reduction.
• Finding deals. Be careful taking advice from people. Find someone who is already there and doing what you want to do.
• Cory shared his most successful multifamily projects and how he found the deals. He talked about how he navigated around the structural issues and the low occupancy rate of the property.

Resources and links mentioned: 

MLS

RioCan REIT

Connect with Cory:

Website: https://altynequities.com/

Facebook: https://www.facebook.com/altynequities/

Email: [email protected]

About Cory Sperle

Cory Sperle is known as the Multifamily Authority and Professional Real Estate Investor. He has been a professional multi-family investor for the past 20 years. He has been consistently generating predictable returns. He is based in Kelowna, British Columbia Canada. He primarily focuses on the mid-level legacy multifamily apartment buildings in the prairie markets in Saskatchewan and Alberta Canada. He loves assisting other investors to attain their goals in this asset class.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/

Email: [email protected]

In this episode, we cover:

• The biggest investment is investing in ourselves while the biggest mistake is assuming to know everything. Real estate is constantly changing and you are always learning. 
• Elizabeth’s advice for a new investor in multi-family space. Educate yourself and don’t be afraid of missing out. People are always finding ways to make money.
• Mistakes, challenges, and lessons learned. Always make sure that the market matches your strategy. Be prepared to take action and don’t be afraid to make mistakes.
• How Elizabeth efficiently manages a large number of units. Outsourcing frees up time and brain power so you can focus on what you really want to do and find the next opportunity.
• Financing is one constant challenge for investors whenever you are trying to grow. Having one or two people like a great mortgage broker can be helpful.
• When you’re struggling to find a deal. 
• Wholesalers invest money rather than buy properties from a seller who is in desperate need to liquidate their property. Realtors serve a market with no timelines.

Resources and links mentioned: 

Rich Dad Education

Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by  Dan Sullivan and Benjamin Hardy

MLS

Connect with Elizabeth:

Website: http://www.Ekconsulting.ca/

Facebook: https://www.facebook.com/EKConsulting.ca/

Facebook Groups: https://www.facebook.com/groups/ElizabethKellyREGroup/

https://www.facebook.com/groups/2287667041508554/

About Elizabeth Kelly

With over 15 years of investing in the industry, Elizabeth Kelly is a very experienced real estate investor. She is based in Kirkland Lake, Ontario Canada. She specializes in the acquisition and management of rent-to-own and multi-family residential properties. She and her husband run a full-service property management company. They're now the largest rental housing provider in Kirkland Lake, ON. She also recently started EK Consulting and Coaching to assist both new and experienced investors plan, structure, and creatively finance their real estate portfolio so they can enjoy early retirement and leave a legacy for their families.

Elizabeth is a people person. She has a passion for helping people achieve their financial dreams through the purchase of investment properties.

Connect with Adam Stelmach:

Website: https://adamstelmach.com/

Email: [email protected]

In this episode, we cover:

• From selling her house to get started, Kelly tripled her net worth in her first five years through different investment strategies.
• There are many different ways of funding real estate deals. You don’t have to be limited by your own equity. Reaching out to potential people to invest with.
• A joint venture is like an equity stake for both parties. The person putting the bulk money into the deal gets their name on the title, on the mortgage. The working partner finds the deals and manages the whole process.
• In a private mortgage, the lender is someone to get the financing from instead of going to a bank.
• What the borrowers or lenders should be looking at before getting into business—the money, the stats, the occupancy rates for the area. The most important thing is to make sure that they’re someone you really know, like, and trust.
• Registered and non-registered funds. There are independent trust companies that will allow you to hold mortgage investments in your portfolio in any registered investment. A real estate investment is a more secure investment.
• Promissory notes are riskier. Kelly says that only lend in a promissory note if you really know the person, their business model, and if they’re trustworthy enough.
• Learning more about lending with registered funds, promissory notes, or joint ventures.

Resources and links mentioned:

Mutual Fund Dealers Association of Canada

Olympia Trust Company

Community Trust

Canada Revenue Agency

Connect with Kelly:

Email: [email protected]

Website: https://www.whitecapproperties.ca/

About Kelly Wagner

Kelly Wagner is the owner of Whitecap Properties, a company on acquiring, renovating and managing investment properties based in Waterloo, Ontario Canada. She started in real estate investing by selling her house. She tripled her net worth in five years and doubled her income through different investment strategies like flipping, BRRRs, long-term holds, multi-family, preconstruction, rent-to-own, and short-term rentals. She is currently focusing on small to mid-sized apartments.

Connect with Adam Stelmach:

Email: [email protected]
 
Website: adamstelmach.com

In this episode we cover:

How to be the bank
Cash value life insurance
How to control your money
Investing in a tax free asset
Investing in an "and" asset as opposed to an "or" asset
Deal analysis of purchasing a $750 000 condo with $400 dollars

Connect with Darren Mitchell:

Website: www.controlandcompound.com
Email: [email protected]
Book: Be the Bank by Darren Mitchell

Connect with Adam Stelmach:

Website: adamstelmach.com
Email: [email protected]