In this Questions of the Week segment on the REI Hot Seat, we break down one of the most important metrics in real estate investing: cash on cash return.

We explain what cash on cash actually means, how to calculate it properly, and why it is often the most important number investors should be paying attention to. We also walk through common mistakes, like leaving out key closing costs or expenses, and how that can make deals look better than they actually are.

This episode also covers how to use cash on cash as a tool to compare investments, filter deals, and even help determine whether a property is priced correctly in today’s market.

If you are analyzing multifamily or commercial deals, this is a foundational concept you need to understand.

Have a question you want us to answer next week? Send it our way and we will cover it.

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Questions of the Week |
What Is Cash on Cash Return and Why It Matters?

0:00 Questions of the Week intro
0:24 What is cash on cash return
1:17 What counts as closing costs
2:22 Common mistakes in calculations
3:07 Using cash on cash to compare investments
4:04 Why expenses matter more than you think
4:48 Cash flow vs mortgage paydown
5:20 Adding rent growth and appreciation
6:16 Using cash on cash to filter deals
6:39 Using it to validate pricing

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In Episode 153 of the REI Hot Seat, Dave and Jacob break down a freshly listed 8-unit mixed-use property in Belleville, Ontario. This one is a standout.

Fully renovated from the inside out, this deal is essentially a “restomod” building: the original structure remains, but the internals have been completely rebuilt with modern systems and full documentation to support it. From engineering reports to permits and inspections, the data room on this property is as strong as it gets.

We dive into what makes this asset unique, including full sub-metering, energy efficiency upgrades, and CMHC readiness. We also break down the commercial component, featuring a strong tenant with a long-term lease and CPI-based rent escalations.

On the numbers side, we unpack a ~6% cap rate, solid debt coverage, and a clear path to stable day-one cash flow with upside.

If you’ve been hesitant about mixed-use, this episode will challenge that mindset. We share real investor experiences, explain why commercial tenants can outperform residential in today’s market, and walk through deal structures like rental guarantees to reduce risk and keep timelines tight.

If you’re looking for a turnkey, high-quality asset with strong fundamentals, this is one you’ll want to understand.

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EP 153 – 8-Unit Mixed-Use Deal Breakdown | Fully Renovated, CMHC Ready

00:00 Intro + New Listing Overview
01:00 Belleville Market + Property Breakdown
03:00 Full Renovation + Data Room Deep Dive
06:00 Submetering + Efficiency Upgrades
10:30 Layout + CMHC Eligibility
11:30 Rent Roll + Lease-Up Strategy
13:20 Mixed-Use Investing Insights
15:00 Commercial Tenant + Lease Structure
18:20 Financials + CMHC Financing
22:30 Deal Structure + Rental Guarantees
26:30 How to Access the Deal

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In this Questions of the Week segment on the REI Hot Seat, we answer a common question from investors: where do you actually find reliable rental and market data when analyzing deals?

We walk through the tools we use to analyze over 1,500 deals a year, from platforms like Door Insight and CoStar to simple resources like ChatGPT, market reports, and property managers. We also explain why your numbers do not need to be perfect upfront and how to use multiple data sources to quickly filter deals before going deeper.

If you are analyzing multifamily or commercial properties, this episode will help you get to accurate data faster and make better decisions.

Have a question you want us to answer next week? Send it our way and we’ll cover it.

Sign up to the REI Hot Seat Insider
https://www.jotform.com/form/241655418022249

REI Hot Seat Instagram
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David Hulshof Instagram
https://www.instagram.com/davehulshof.realestate/

Jacob Campagnaro Instagram
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Questions of the Week
Where to Find Real Rental Data for Your Deals

0:00 Intro
0:14 Where to find rental data
1:13 Why property managers matter
1:36 Key tools we use
2:25 Using ChatGPT for research
3:47 Rates, taxes, and basic tools
4:40 Vacancy rates and market data
6:34 Bonus tool for short term rentals

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In this Questions of the Week segment on the REI Hot Seat, we answer a common question from investors: where do you actually find reliable rental and market data when analyzing deals?

We walk through the tools we use to analyze over 1,500 deals a year, from platforms like Door Insight and CoStar to simple resources like ChatGPT, market reports, and property managers. We also explain why your numbers do not need to be perfect upfront and how to use multiple data sources to quickly filter deals before going deeper.

If you are analyzing multifamily or commercial properties, this episode will help you get to accurate data faster and make better decisions.

Have a question you want us to answer next week? Send it our way and we’ll cover it.

Sign up to the REI Hot Seat Insider
https://www.jotform.com/form/241655418022249

REI Hot Seat Instagram
https://www.instagram.com/reihotseat/

David Hulshof Instagram
https://www.instagram.com/davehulshof.realestate/

Jacob Campagnaro Instagram
https://www.instagram.com/jacob_campagnaro/

Questions of the Week
Where to Find Real Rental Data for Your Deals

0:00 Intro
0:14 Where to find rental data
1:13 Why property managers matter
1:36 Key tools we use
2:25 Using ChatGPT for research
3:47 Rates, taxes, and basic tools
4:40 Vacancy rates and market data
6:34 Bonus tool for short term rentals

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In Episode 152 of the REI Hot Seat, Dave and Jacob are breaking down an active mixed-use deal in Scarborough on Eglinton that brings something a little different to the table. This is a freehold strip-plaza unit (not condo), fully vacant, with roughly 1,000 sq ft per floor: a 3-bedroom residential unit upstairs and 2,000 sq ft of commercial across the main and lower levels. The flexibility here is key — live/work, lease everything, or reposition it entirely.

We model the numbers conservatively: $2,500/month for the 3-bed, $5,500/month for the commercial, plus a third income stream most people overlook — an on-site billboard generating approximately $11,000/year. With separately metered utilities and light expenses, the deal pencils around a 6% cap at asking, and we walk through financing assumptions, DSCR targets, and what realistic mixed-use lending looks like without CMHC.

The real upside? Value-add. Nearly every neighbouring unit has expanded at the rear, significantly increasing square footage. There’s strong precedent for additions, opening the door to expanding commercial space or potentially reconfiguring residential density (subject to permits and planning). It’s priced based on what it is today, the expansion is optional upside.

If you’re looking to diversify beyond straight multifamily and want exposure to retail with residential stability and contract-law protection, this is one worth understanding. Reach out if you want the full underwriting breakdown.

Sign up to the REI Hot Seat Insider: ⁠https://www.jotform.com/form/241655418022249

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Jacob Campagnaro Instagram: https://www.instagram.com/jacob_campagnaro/

EP 152 Unlock Passive Income: The Secret Power of Billboards!

00:00 Intro + why this episode is different
00:35 The property overview (Scarborough mixed-use, fully vacant)
02:40 Layout, floorplans, and renovation/capex notes
04:30 Underwriting rents + why conservative
07:15 Billboard income breakdown (how it works + why it matters)
09:20 Expenses, NOI, and vacancy assumptions
10:45 Financing + DSCR targets for mixed-use
12:05 Cap rate & cash-on-cash scenarios (ask vs offer)
15:55 The value-add play (rear additions + precedent)
19:00 VTB conversation + leasing support for the commercial space
22:15 Wrap-up + how to learn more

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In this Questions of the Week segment on the REI Hot Seat, we break down one of the most common and misunderstood parts of commercial leasing: tenant allowances.

We explain what tenant allowances are, why landlords offer them, and how they compare to other tenant inducements like free rent or landlord completed renovations. Using real examples, we walk through how tenant allowances work in practice, when they make sense for landlords, and how different deal structures impact cash flow, control, and long term value.

This episode also highlights why commercial leases are not one size fits all and how creative structuring can help both landlords and tenants get deals done.

If you own commercial property, are negotiating a lease, or want to better understand how tenant incentives actually work, this episode will give you clarity.

Have a question you want us to answer next week? Send it our way and we’ll cover it.

Sign up to the REI Hot Seat Insider
https://www.jotform.com/form/241655418022249

REI Hot Seat Instagram
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Jacob Campagnaro Instagram
https://www.instagram.com/jacob_campagnaro/

Questions of the Week | What Are Tenant Allowances and Why Do They Matter?

0:00 Questions of the Week intro
0:25 What is a tenant allowance
0:56 Why tenant allowances exist
1:48 Real example of negotiating a tenant allowance
2:44 Tenant allowance vs free rent vs landlord renovations
4:15 How landlords choose the right structure
5:22 Risks of doing the work as a landlord
6:08 Using tenant allowances to protect cash flow
6:48 Combining incentives in commercial leases
7:16 Why commercial leases are fully negotiable

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

We’re officially in 2026 — so what does this year actually look like for real estate investors?

In Episode 151, we break down:

• How 2025 wrapped up and what Q4 told us about the market

• Why buyer demand is strong heading into 2026

• Whether prices and rents have stabilized

• If we’ve truly hit the bottom

• How cap rates and interest rates are finally aligned again

• What to expect across multifamily, retail, industrial, office, and development

We also discuss why deals are starting to make sense again, why off-market opportunities are picking up, and which asset classes we’re most excited about heading into 2026.

This conversation is grounded in real underwriting, real deal flow, and what we’re seeing on the ground with active investors — not hype.

CONNECT WITH US

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EPISODE 151
Cap Rates Are Back: What 2026 Means for Investors
00:00 – Welcome to 2026
00:28 – Wrapping up 2025 & Q4 market trends
01:48 – Why buyer demand is strong right now
03:56 – Have prices and rents hit the bottom?
06:02 – Cap rates vs interest rates explained
07:30 – Interest rate outlook for 2026
10:12 – High-level 2026 market predictions
12:45 – Development outlook (condos vs rentals)
14:26 – Industrial market trends
15:12 – Why retail remains strong
16:31 – Mixed-use opportunities
17:37 – Office market outlook
18:13 – What excites us most about 2026
20:45 – What we want to cover next + closing thoughts

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In this Questions of the Week segment on the REI Hot Seat, we answer a question that comes up all the time from investors, especially those entering the commercial and multifamily space for the first time: what questions should you be asking before hiring a commercial realtor?

We break down why commercial real estate is fundamentally different from residential, why experience in the space matters, and how deal flow, underwriting, and team structure can directly impact your outcomes. We also discuss the importance of working with brokers who actively operate in the market, understand financing, and bring a full team of professionals to the table before you ever enter a deal.

This conversation highlights common mistakes investors make when choosing representation, why being sent deals without proper analysis is a red flag, and how the right advisor should help you filter opportunities rather than overwhelm you.

If you are considering hiring a commercial realtor or evaluating your current one, this episode will give you a clear framework for asking the right questions upfront.

Have a question you want us to answer next week? Send it our way and we will cover it.

Sign up to the REI Hot Seat Insider:
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REI Hot Seat Instagram:
https://www.instagram.com/reihotseat/

David Hulshof Instagram:
https://www.instagram.com/davehulshof.realestate/

Jacob Campagnaro Instagram:
https://www.instagram.com/jacob_campagnaro/

Questions of the Week | What Should Your Commercial Realtor Be Doing for You?

0:00 Questions of the Week intro
0:27 The question investors keep asking
0:59 Why commercial is different from residential
1:48 Why experience and deal history matter
2:45 The importance of off market deal flow
3:09 Why team structure is critical
4:38 Understanding financing and underwriting
5:38 How real deal analysis protects buyers
6:49 Common mistakes investors make with brokers
7:39 The top three questions to ask a commercial realtor
8:27 How to submit questions for future episodes

DISCLAIMER: THIS EPISODE IS FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED INVESTMENT ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A QUALIFIED INVESTMENT ADVISOR BEFORE MAKING ANY INVESTMENT DECISIONS.

In Episode 150 of the REI Hot Seat, we break down a unique on market deal that’s now a power of sale and what that actually means for you as a buyer. Dave and Jake walk through the realities of buying bank controlled properties, why power of sale listings often come with limited information, and what you need to understand about as is where is conditions, no reps and warranties, and the schedule that can override your entire agreement.

They also cover how to protect yourself when the rent roll, expenses, and documentation are incomplete, including building your own rent roll from a unit by unit walkthrough, pulling public tax data, estimating utilities using comparable properties, and underwriting with conservative cushions and a risk premium. You will hear why some power of sale deals can close fast, how that can create opportunity for buyers with capital ready, and how aligning your offer with the lender’s motivation can lead to better pricing.

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Jacob Campagnaro Instagram
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EP 150 Power of Sale Secrets Buyers Need to Know

0:05 A unique on market deal that turned into a power of sale
0:48 What power of sale means and why banks must market the property
2:18 Why power of sale listings have limited info and no reps and warranties
3:23 The schedule and how the owner can reclaim the property before closing
4:09 The upside and the risks buyers need to be ready for
6:24 Deal overview Wasaga Beach motel conversion and why the area is bullish
8:10 Pricing assumptions and how the deal could look at different purchase prices
9:48 Why touring comes first on this one and what to document unit by unit
11:48 How to mitigate risk when the schedule supersedes your clauses
12:43 Building your own rent roll using tours, taxes, and comparable utility data
13:38 Underwriting with cushions, risk premium, and why returns look higher
14:41 Fast closes, timelines, team readiness, and how to win power of sale deals
17:02 Getting an opinion of value and joining the insider list

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.

In this episode of Questions of the Week on the REI Hot Seat, we build on last week’s discussion around CMHC financing and answer a question we get all the time: what deals can you not bring to CMHC?

We break down which property types are immediately disqualified, how CMHC looks at mixed use buildings, and why both square footage and revenue allocation matter. We also get into common misconceptions around mixed use assets, minimum unit counts, and how some owners and investors miss out on CMHC financing simply because they assume their building does not qualify.

Using real examples, we explain how reclassifying space properly, understanding nuances around basements and common areas, and doing things the right way can unlock significant refinancing and acquisition opportunities. We also cover the risks of misrepresentation, CMHC inspections, and why clarity upfront is critical before moving forward with financing.

If you own a building or are considering purchasing one and wondering whether CMHC financing is an option, this episode will give you clarity.

Have a question you want us to answer next week? Drop it in the comments.

Sign up to the REI Hot Seat Insider: ⁠[https://www.jotform.com/form/241655418022249]

REI Hot Seat Instagram: https://www.instagram.com/reihotseat/

David Hulshof Instagram: https://www.instagram.com/davehulshof.realestate/

Jacob Campagnaro Instagram: https://www.instagram.com/jacob_campagnaro/

Questions of the Week | Which Deals Do Not Qualify for CMHC Financing?

0:00 Questions of the Week intro

0:18 What deals cannot go to CMHC

0:41 Property types that are immediately disqualified

1:07 Mixed use buildings and the 30 percent rule

2:06 How basements and common areas are treated

2:49 Revenue allocation and why it matters

3:20 Unlocking CMHC on misunderstood mixed use deals

4:29 Minimum unit counts and deal sizing

6:07 CMHC compliance, inspections, and doing it right

8:32 Final takeaways on qualifying for CMHC

DISCLAIMER: THIS EPISODE, AS WITH EVERY EPISODE OF THIS SHOW, SHOULD NOT BE CONSIDERED AS ADVICE. INVESTMENT ADVICE IS NEVER GIVEN ON THIS SHOW. ALWAYS CONSULT A COMPETENT INVESTMENT ADVISOR BEFORE MAKING AN INVESTMENT DECISION.