The RECC Podcast

Dan Sullivan "Who not How" I started delegating the direct interaction to be in charge of my time so I get the messages in the afternoon so I can work uninterrupted in the mornings
I am still the one calling the shots and handling the contractors so that I know what's going on
Tenant are the front row consumers and the clients that need to be looked after and also the ones that can say when something is wrong with the property
Challenges as a landlord = only exposed to negativity and called upon when things go wrong and not thanked when you fix them, sometimes a sense of entitlement
Don't take anything personally - book The 4 Agreements by Don Miguel Ruiz
commercial = tenants improve your property, share on the TIs, the tenant improvements

Consumer Price Index | 
hedges against inflation: gold, real estate | 
 | equity in a home increase as price of asset increases 
 | multifamily: shorter leases ie possibility to increase rents
 | triple net property: increases are passed on to the tenant
 | Oct 20: 18 year high in Canada at 4.4%
 | inflation - the rate at which consumer prices rise
 | correlation between cap rates and interest rates due to NOI keeping up with inflation, source CBRE

Multifamily & Industrial |  | information asymmetry to find deals | 
Increase in NOI will go way further |  |  | 
Expand one's horizon: CRE and other asset classes, created a group on fb and on meet up where the focus is on commercial, we have people specializing in all asset types and we talk business and are even thinking of investing together |  |  | 

Me: real estate portfolio, get paid from rent collection
Haven't monetized anything else: coaching, podcast, not really advertised but more present online so people know what I am doing in case real estate is of interest to them
Starting to let people in on my deals, syndication: starting small, weekly call with a friend who had the same mentor: how do we move the needle?

BRRR buy renovate rent refinance repeat
buy with high vacancy
buy with below market rents
buy from a seller who didn't maintain the properties well and rehab
buy on a large lot and expand or redevelop
buy a large space and subdivide it into microunits

house hacking to get started in real estate investing: you buy a house and rent out bedrooms in that house so others pay down your mortgage and you live free, building equity and with a property that potentially appreciates in value
bought a house with basement unit but we now use it for family when they come to visit after bad experiences: weed delivered to the home, tenant complained they got a parking ticket and tenant couldn't get in
can turn into a nightmare in a pro tenant environment if you have to live and share part of your space with tenants who are not paying or loud. I remember my parents used to rent a room to a student and we would cook for her.

lots of advantages to owning: you build up equity through mortgage pay down and appreciation in Ontario, can refinancing or take a heloc and use the funds to invest, can sell tax fee
personally, if I didn't have a family I may rent so I don't have all the upkeep to do or live in a condo where everything is taken care of for you so I can focus on my passions

With Carina we dive into land development: buying, rezoning to best and highest use and selling.