Real Estate Golden Nuggets: Real Estate Investing Simplified

Not all heros wear a cape! In today's episode I have Alving Wong a full time Nurse who is investing in Real Estate in the Windsor and Sudbury market. Alvin realized early that just one income stream does not suffice and he is now actively looking to build his portfolio while still enjoying his nursing career. 

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Have you considered investing outside of Ontario? Want to get into a more landlord friendly market with great cashflow? Looking to grow your portfolio faster? Then you need to check out this episode! 

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Have you thought of enjoying a lifestyle you want that allows you time and financial freedom to keep the right balance of business and family life?

In this episode, our guest Josh Stevenson shares his journey from being a teacher to a full-time real estate investor - what property deals he got into and the strategies he employed to grow to an 87-unit portfolio and enjoys his freedom.

Josh Stevenson has been a property investor for 14 years now. He started in Barrie, Ontario, where he house hacked his first duplex. And then he moved back to his hometown of Orilla, Ontario, where he's been away for about 20 years as he travelled the world for many years and taught English. He came home to Canada and opened an English school that was later shut down by SARS, and started his career in real estate investing from then on.

Topics Covered:

01:50 - What got him into real estate investing

05:52 - One thing that initiated his diving into real estate investing

09:48 - Property deals he started out with

13:05 - Growing his portfolio to 87 units

16:38 - A funnel he created that helps in acquiring properties

19:50 - How a Vendor Take Back mortgage works

21:30 - Three main bread and butter deals

21:52 - What you want to know about credit unions including property assessment

25:41 - Things one should be looking at when buying properties other than appreciation

30:11 - Challenges that he overcame

33:49 - Plans of getting into property management

34:44 - Looking at the numbers in one of his deals

40:14 - Doing deals with no JV partners

40:52 - Books he recommends

42:06 - Where he wishes to travel now

42:30 - What he says to someone new to real estate investing

Episode Takeaways:

"We discovered that we could do something called a no-money-down deal. We deal with credit unions now. I found that credit unions are actually way better lenders, and they don't have as strict rules as conventional banks." - Josh Stevenson

"You know the 1% rule, that has been the golden rule for us. Truly believe that's how we've been able to build this portfolio so big. You can look at a building like that, what are the rents? And what is the price?" - Josh Stevenson

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With COVID stalling many businesses and the challenges you meet, how do you pivot and find strategies that are cash flowing and provide a return on investment?

In this episode, Jared shares how he started investing in different markets and landed in Peterborough's student rentals. He also talks about the deals he focuses on that speed up his BRRRR strategy, eyeing a goal of a 100-unit portfolio when he turns 45.

Jared Henderson started investing in 2012 in the Golden Horseshoe at the other end in Niagara Falls and wound up in Peterborough after experimenting in a few different markets. The BRRRR process is his main strategy.

Topics Covered:

03:01 - What got him into real estate investing?

04:28 - From condos to duplexes and the challenges

08:13 - Raised bungalow conversion to second suites

10:38 - Why student rentals, right tenant screening

15:08 - Reason for getting into the legal conversion strategy

17:21 - Deals he looks into in Peterborough, an existing layout, areas to go for or stay away from

22:02 - Sourcing deals and his successful off-market deals

26:29 - Finding contractors, funding deals, and raising capital

31:03 - How he manages his properties

32:43 - Going over a project he just recently refinanced

40:42- His travel plans

40:54 - Book recommendation

41:26 - What he would tell his own self when he was just starting out

Episode Takeaways:

"Why do I want to get into student rentals even when people say that they just party and trash the place, which is just not true. That will happen occasionally. But most people have a damage deposit; their parents are co-signing. You're always going to get your rent; rarely, you don't." - Jared Henderson

"The real value, the real equity is working with the right team, the right property managers, the right contractors, for sure. And that includes your legal team, the right mortgage brokers, and once you get a system down, you just rinse and repeat it, because it's simply effective." - Jared Henderson

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Why you have to check out this episode:

With COVID stalling many businesses and the challenges you meet, how do you pivot and find strategies that are cash flowing and provide a return on investment?

In this episode, Jared shares how he started investing in different markets and landed in Peterborough's student rentals. He also talks about the deals he focuses on that speed up his BRRRR strategy, eyeing a goal of a 100-unit portfolio when he turns 45.

Jared Henderson started investing in 2012 in the Golden Horseshoe at the other end in Niagara Falls and wound up in Peterborough after experimenting in a few different markets. The BRRRR process is his main strategy.

Topics Covered:

03:21 - What got him into real estate investing?

04:49 - From Condos to duplexes and the challenges

08:34 - Raised bungalow conversion to second suites

10:58 - Why student rentals, right tenant screening

15:28 - Reason for getting into the legal conversion strategy

17:40 - Deals he looks into in Peterborough, an existing layout, areas to go for or stay away from

22:22 - Sourcing deals and his successful off-market deals

26:49 - Finding contractors, funding deals, and raising capital

31:23 - How he manages his properties

33:03 - Going over a project he just recently refinanced

42:20 - His travel plans

42:33 - Book recommendation

43:06 - What he would tell his own self when he was just starting out

Episode Takeaways:

"Why do I want to get into student rentals even when people say that they just party and trash the place, which is just not true. That will happen occasionally. But most people have a damage deposit; their parents are co-signing. You're always going to get your rent; rarely, you don't." - Jared Henderson

"The real value, the real equity is working with the right team, the right property managers, the right contractors, for sure. And that includes your legal team, the right mortgage brokers, and once you get a system down, you just rinse and repeat it, because it's simply effective." - Jared Henderson

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In this episode, Kellan shares how he is able to strike a balance between his personal and professional life while growing his real estate business.

Kellan James reached financial independence through real estate cash flow by the age of 29. He was able to quit the rat race to pursue his passion for real estate investing full time. Kellan hosts the On FIRE Podcast, shares his daily journey on Instagram, and runs local meetup groups like London on FIRE. Kellan started by house-hacking: living in a duplex and renting out the other side in order to live for free. In just over two years, he built a solely-owned, multi-million dollar portfolio consisting of 10 properties with 32 units. Kellan was able to accomplish this while working a full-time job, using the BRRRR investing strategy. Since then, he has added to his portfolio, currently totalling 52 units, all solely owned.

Topics Covered:

01:54 - How he got started in real estate

07:55 - Financing his deals without JV partners

09:34 - How a credit union works for him in refinancing his deals

11:19 - Interest rates with a credit union and where he finds his deals

14:58 - Creating active income and thoughts on borrowing money from private lenders

18:54 - What his lifestyle looks like now and location of his goldmine market

21:19 - From residential to duplexes to apartment buildings -- why the shift to this portfolio

23:20 - Portfolio for someone just starting out in terms of monthly cash flows

24:07 - The extent to which you can self-manage your properties

25:41 - His thoughts when it comes to tenant screening

26:25 - Incorporating versus your personal name

27:19 - Maintaining your focus on where you want to make money

29:02 - What it takes to quit from your full-time job and fully focus on real estate investing

32:32 - His take on the cryptocurrency and the 'shiny syndrome' thing

35:32 - What's a day for him like and plans to scale his portfolio

39:04 - Books he loves and recommends, travel destinations, advice for anyone getting into real estate

Resources:

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Ross is joined by Cam Rowland, a real estate investor and coach from Winnipeg, Manitoba who specializes in acquiring properties with no money down using the Rent to Own strategy.   

In this episode we discuss how to invest with no money down, what is rent to own, the benefits of rent to own strategy, how to find rent to own/off market deals, what to say to a motivated seller to get a deal, how to find the right tenant to place in the program and how to ensure tenants are able to complete the program. 

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YouTube: https://www.youtube.com/channel/UCXJeEiAaVaEtYt0Sqr36TVQ/videos

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Instagram: https://www.instagram.com/creativeinvestor/

Ross is joined by Michal Wach, a husband, father, CPA, and real estate investor and coach from Hamilton Ontario. 

With investing experience across multiple cities in Southern Ontario, Michal is primarily a long-term buy and hold investor that has used the BRRR (Buy, renovate, rent, refinance) method to acquire 6 properties (15 units) and growing. 

After purchasing the first rental property in Hamilton in 2008 (a single family home), Michal has now put building blocks in place to leave his full time job in the near future to be able to focus on real estate investing full time, while spending more time at home with family and living life on his terms.

In this episode we discuss duplex conversions, common concerns/roadblocks of investors, the shiny object syndrome, overcoming mindset limitations and simplifying deal analysis to avoid analysis paralysis. 

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YouTube: https://www.youtube.com/channel/UCXJeEiAaVaEtYt0Sqr36TVQ/videos

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Instagram: https://www.instagram.com/wachproperties/

You are never too young to invest in Real Estate! Ross is joined by Jake Novis, a 25 year old full time Real Estate Investor from Cambridge Ontario who specializes in Multifamily Commercial Real Estate who has been investing since 18! Jake is a very inspirational young entrepreneur who believes in systems and long term wealth with a portfolio of 28 units and growing! 

In this episode we discuss multifamily commercial real estate investing, the difference between residential and commercial real estate, the qualification requirements for commercial financing, commercial CAP rates, tenant screening, property management systems and checklist, and the fundamentals of Lindsay Ontario. 

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YouTube: https://www.youtube.com/channel/UCXJeEiAaVaEtYt0Sqr36TVQ/videos

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