Welcome to the Truth About Real Estate Investing Show for Canadians, my name is Erwin Szeto

The City of Toronto has passed the renoviction by-law which will come into effect next summer.  While I’m all for protecting tenant rights and balance, friends of mine were in the news because they needed to upgrade all the plumbing in their apartment so ceilings had to come down in every unit on one floor as the building is 50 years old so of course much of the infrastructure does not support modern day living.

Speaking of modern day living, my friends were upgrading suites to have ensuite laundry and dish washers.  Naturally, plumbing and electrical upgrades would be needed and this is a good investment as who doesn’t want a dishwasher and ensuite laundry and willing to pay more rent for it? Most do thus improving the value of the building.

But because our immigration rates are faster than we can build, rents have skyrocketed and vacancy rates are at historic lows. Inflation has driven up build costs so new construction landlords are in a hard place as the rents they need to just break even on hard costs are hardly affordable to the average Canadian.

A friend of mine from the gym was just telling me his mortgage on his new construction, GTA, bachelor sized condo is over $2,200 plus $400 condo fee but his rent is $2,000.  Not a good investment in most people’s books and $2k rent for a bachelor, 400 square foot apartment is a lot of money.

Now with anti-renoviction by-laws spreading across Ontario, first Hamilton, then London, now Toronto and I know Ottawa and Waterloo are considering it.  The question begs, why would a landlord renovate?  Say life safety systems need to be updated like fire safety systems: sprinklers, fire escapes, floor, wall ceiling fire rated separation. It’s complicated, expensive, disruptive to the tenant but life saving.  How will a landlord get it done with renoviction by laws? 

Keep in mind the onus is on the landlord to rehome the tenant in a similar unit at same rent or compensate any rent differential and if the landlord fails to do so, the fines are in the hundreds per day so an N13 eviction for renovation is really not financially feasible. 

And the investment hypothesis only gets worse in Ontario IMHO.  

On the positive, I recently became a member of SOLO: Small Landlord Owners of Ontario, a not for profit organization to lobby in support of small Ontario landlords, provide support to landlords with tenant issues beyond the scope of what Landlord Self Help Centre provides.

I’ve spoken to a couple of the board members and interacted with members of SOLO on the free Facebook group and folks are truly helpful. Check them out at www.solo.ca or on Facebook: https://www.facebook.com/groups/sololandlord

Just note they do verify members of the Facebook group, the most stringent I’ve seen in having to prove one is indeed a landlord.

SHARE and I are also a proud sponsor starting January 1st of SOLO and hope to support their efforts in supporting small landlords who honestly get the short end of the stick. I look forward to a mutually beneficial relationship in 2025.

7 Figure, 20yr Appraiser From BC, To Real Estate Developer in Edm with Christine Traynor

On to this week’s show!

In this episode, we sit down with Christine Traynor, from Victoria, BC, a seasoned real estate professional who has navigated the industry from multiple angles.  She started as a paralegal in mortgage enforcement/foreclosures, became an appraiser in 2002, worked in for a high end real estate developer then buying a real estate appraisal firm, buying two more with creative financing and in 2024, sold those businesses for a seven figure exit. 

What’s now keeping Christine busy is her current ventures as an Edmonton, Alberta real estate developer, multifamily investor, Christine shares a wealth of knowledge and insights that are sure to inspire.

For those looking to raise capital, specifically registered funds like RRSP’s and TFSA’s, Christine is involved with a Mutual Fund Trust as part of a 94 unit build so you’ll want to hear about that.

Christine shares how and why she chose not to invest in local, tenant friendly, unaffordable Victoria, BC for landlord friendly Edmonton which is something pretty much every BC, Ontario, Quebec investor from a tenant friendly jurisdiction is considering. 

Christine is an advocate for empowering women around investing and finances, and is the host of She Builds Wealth, a (free) online community where she leads women in conversation around real estate investing, business, money and mindset.  She is also the creator of She Builds Wealth: A Foundational Course for Women on Building Wealth in Real Estate.

To follow Christine:

Instagram: @Christine.traynor.reinvesting

Website: www.christinetraynor.com

Please enjoy the show

To Listen:

HELP US OUT!

BEFORE YOU GO…

Before you go, if you’re interested in what kind of properties I am looking at in the landlord friendly states of the USA please go to iwin.sharesfr.com for what I consider the best investment for most Canadians, most of the time.

I’ve been investing in Ontario since 2005 and while it’s been a great, great run. I started out buying properties in the 100,000s and now it’s $800,000 to $1,000,000.  How much higher can it go? I don’t know

To me, the remaining potential for appreciation does not match the risk hence I’m advising my clients to look to where one can find rental properties that are affordable range of $150,000 to $350,000 US$, with rents that range from $1,400 to 2,600/month plus utilities.   As many Canadians recognize, these numbers will be positive cash flow and are night and day compared to anything locally. Plus the landlord has all of the rights, no rent control, and income is US dollars which are better than Canadian dollars.

If you don’t believe me, US dollars are better than Canadian dollars, go ask 100 non-Canadians which currency they prefer to be paid in.

So to regain control of your retirement planning.  Go to iwin.sharesfr.com and check out what great cash flow properties are available in the USA.  

The best part is, my US investments will be much more passive compared to by local investments as I’m hiring an asset manager called SHARE to hand hold me through the entire process.  As their client and shareholder, Share will source me quality income properties, help me with legal structure and taxes, they manage the property manager and insurance provider while passing down to me preferred rates so I save both time and money.  

Share will even tell me when to strategically refinance or sell.  SHARE can even support investors all over the country for proper diversification hence my plan is to own in Tennessee, Georgia, and Texas.  Share is like my joint venture partner but I only have to pay them fees while I keep 100% ownership and control.

If your goal in investing is to increase cash flow, I don’t know of a better strategy for most Canadians most of the time.  One last time that’s iwin.sharesfr.com to see what boring, cash flowing real estate investing can look like on your path towards financial peace.

This is how I’m going to make real estate investing great again for my family and hope you choose the same.  Till next time!

Sponsored by:

This episode is brought to you by me! We don’t have sponsors for this show. I only share with you services owned by my wife Cherry and me.  Real estate investing is a staple in my life and allowed me to build wealth and, more importantly, achieve financial peace about the future, knowing our retirement is taken care of and my kids will be able to afford a home when they grow up.  If you, too, are interested in my systematic strategy to implement the #1 investment strategy, the same one pretty much all my guests are doing themselves, then go visit www.infinitywealth.ca/events and register for our next event.

Till next time, just do it because I believe in you.

Erwin

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Disclaimer:

As a committed advocate for transparent and responsible real estate investment, I want to openly share my involvement with SHARE SFR (Single Family Rental) as an Advisor. I hold an equity position in this company and receive a referral commission for clients I introduce to their services. My endorsement of their business model – focusing on direct ownership of positive cash flow income properties – is consistent with my own personal investing since 2005, is based not only on a professional assessment but also on my personal experience and belief in their approach. Please note that while I stand behind my recommendations, it is crucial for each individual to conduct their own due diligence and consider their unique circumstances before making any investment decisions. As always, my priority is to provide you with honest, insightful, and practical real estate investment education.