How a New Investor Acquired Five Duplexes in Six Months

/0 Comments/in /by

Hello ladies and gentlemen investors from across Canada, welcome to another episode of the truth about real estate investing, where it is my pleasure to bring to you investor stories to educate, inspire and maybe even entertain. This week we have a guest referred by a friend of the show in Amy Halpenny. She’s new to real estate investing, but she shot out of a cannon. She acquired five properties in just over six months in Collingwood and the Durham Region, converting each of them to add secondary suites, for a total of ten units.

On-the-job Amy combines strategic ‘big picture’ thinking with well-honed management skills, operational know-how, and a relentless persistence to “get ‘er done.”

Before getting into real estate, Amy worked in small business and start-ups for over 15 years in strategy, sales, marketing and operations.

In this interview we talk about Amy’s reasons for investing, the courses she took, and how they helped. She also discusses how her investing strategy will insulate her from market corrections.

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Coaching recommended by Amy: https://durhamrei.com/coaching/

Breakthrough Coaching and Living your Purpose

/0 Comments/in /by

Hello ladies and gentlemen investors from across Canada! This week we have a special guest, Oliver Manalese. I’ve known Oliver for many years, dating back to my first year at REIN in 2008. However, he no longer invests in real estate. Just to confirm, you are indeed listening to the Truth About Real Estate Investing show and one of the truths of the investment business is it’s not for everyone. In Oliver’s case, he built a successful business, made a bunch of money doing so, and later decided to change directions.

Since 2012, Oliver Manalese is a Breakthrough Coach. He coaches, consults and trains creative leaders in a process of Aligned Reinvention. Through breakthrough insights, intuitive guidance, and transformational tools, his clients create lives and businesses that reflect their deepest purpose on this planet.

His work is based in Ontology. Simply put, he looks at the different ways we are being and how it determines our reality of what is possible and not possible. In today’s culture of hustle, overwork, and never enough, being is the key component that’s missing. Returning to being is what translates into a greater sense of presence, flow, and trust in the unfolding of our unique process.

In this episode we talk about a variety of topics: how rent-to-own works, how Oliver raised capital as a 22 year old with limited start up capital, how real estate taught him about entrepreneurship, the importance of personal development and growth. He was so good at the business, other investors sought out Oliver to hire him to be their investing coach.  This led to Oliver’s aha moment of wanting to help people in a more fulfilling way as the full time break through coach that he is today.  Apparently, it’s working as for both personal or professional projects, Oliver’s clients report having a greater sense of inner peace, satisfaction, confidence, joy, and abundance.

So, without further ado, I introduce to you, Oliver Manalese

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Oliver is also host of The Oliver Manalese Show, a podcast that dives into the breakdowns and breakthroughs of influential people. Guests include accomplished entrepreneurs, coaches, and authors who vulnerably share their genuine challenges and the insights that empowered them to breakthrough.

For more information and complimentary sessions visit: http://www.olivermanalese.com/

Connect with Oliver on Facebook: http://www.facebook.com/OliverManalese

Oliver’s podcast: http://www.olivermanalese.com/show

Real Estate Investment Network: reincanada.com

Think and Grow Rich by Napoleon Hill: https://www.amazon.ca/Think-Grow-Rich-Million-Dollars/dp/0449214923/ref=sr_1_1?s=books&ie=UTF8&qid=1492093250&sr=1-1&keywords=think+and+grow+rich

Psycho-Cybernetics by Maxwell Maltz: https://www.amazon.ca/Psycho-Cybernetics-Updated-Expanded-Maxwell-Maltz-ebook/dp/B00SI02BW4/ref=sr_1_1?s=books&ie=UTF8&qid=1492093294&sr=1-1&keywords=maxwell+maltz

Last Word on Power by Tracy Gross

https://www.amazon.ca/Last-Word-Power-Tracy-Goss/dp/038547492X/ref=sr_1_1?s=books&ie=UTF8&qid=1492093380&sr=1-1&keywords=Last+word+on+power

War of Art by Steven Pressfield

https://www.amazon.ca/War-Art-Through-Creative-Battles/dp/1936891026/ref=sr_1_1?s=books&ie=UTF8&qid=1492093420&sr=1-1&keywords=war+of+art+by+steven+pressfield

The Way of the Superior Man by David Deida

https://www.amazon.ca/Way-Superior-Man-Spiritual-Challenges/dp/1591792576/ref=sr_1_1?s=books&ie=UTF8&qid=1492093507&sr=1-1&keywords=the+way+of+the+superior+man

Interview with Don R Campbell – Part 2

/0 Comments/in /by

Welcome to another episode of the Truth About Real Estate Investing, where it is my job to bring you lessons from the streets, education on all things real estate investing, inspiration, and maybe some entertainment.

This week we have a very special guest, a multiple time best selling author, the best selling Canadian real estate author in history – but he doesn’t just write! He knows what he’s talking about. Don is a veteran investor, a teacher, a philanthropist, market analyst, and in his free time, Don pursues his passion which is organic farming – and not just plants, livestock too.

Don has spoken to tens of thousands of people on stages all over North America, Australia, and Ireland, sharing his analysis, his strategies and his life philosophies. When the national media: CBC, BNN, CTV, Global News, Financial Post, Globe and Mail, Sun Media, etc… wants an unbiased comment on the real estate market, they go to Don in his role as Senior Analyst of the Real Estate Investment Network, a company that has provided detailed forecasts and analysis of housing markets across Canada for over 24 years.

Today, my goal is to build upon the interview we did 12 months ago (episode 2). I suggest you listen to it if you haven’t already. Today we dig more into economics, more specifically about the craziness going on in our major markets, what’s causing it, the one book we all need to read (and no, it wasn’t written by Don), and what it was like investing in the 80’s when interest rates were in the double digits and climbing. We also get deeper into Don’s story, to drag out some tips and strategies you may not have heard before. You’ll find this a fast-paced discussion, so I suggest you get your notepad ready. Without further ado, let me welcome Don Campbell to the podcast:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Going All In: Poker Player to Full Time Investor

/1 Comment/in /by

This week we have a special guest in Michal Wywrot, who started out investing in real estate at the age of 17 while going to school and playing Poker. He used the winnings to graduate university debt free. Mike traveled the world as a professional poker player on the top three world poker tours, having played in LA, Las Vegas, Croatia, and Monte Carlo. Michal and brother Luke’s investing is just as varied and spread out, having investing in new construction condos in Markham, nine student houses in Hamilton, flips and rent to owns in Brampton and Durham regions, an apartment building in Etobicoke, and finally, their current project, developing 30 units in Toronto.

Should you want to learn more about their business or join them in a future development opportunity, go to their website at www.lch.to

On Instagram: https://www.instagram.com/lch.to/

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

On the podcast, we talk about:

  • What Michal does to stay in shape and de-stress
  • The boom of online poker, risk analysis, exploiting early advantages
  • Reading opposing poker players and skill transfer when screening tenants
  • Michal’s investing career starting at age 17 with a new construction condo
  • Flipping a house in Etobicoke
  • Converting 3 units into six units near Humber College
  • Current project: 30 unit new development project and the challenges, including an unexpected $500,000 environmental cleanup

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

6 Years Part Time and $600k in Returns

/0 Comments/in /by

That’s right, a part time investor from Toronto investing in cash flowing, Hamilton real estate and improved his net worth by $600,000 in just six years. Gross rents of $8,000 per month and John’s personal efforts to generate those revenues is 30 minutes per week or 2 hours per month, therefore his hourly rate is $4,000/hour.

After over a decade of sitting on the sidelines and knowing real estate was an excellent asset class, John finally took the leap after meeting his real estate coach in Erwin Szeto (full disclosure, John is my client). John, son of Greek immigrants, being a rather smart guy who has his MBA and Chartered Professional Accountant designation, took the leap and purchased his first investment property, in April 2011, a single family, semi-detached for $240,000 which is now worth over $400,000 in today’s market.

John has a full time, management job in Toronto, recently married to lovely wife Freda, and they are expecting their first child. With busy life including teaching at Sheridan College, achieving a black belt in Karate, learning to play guitar and full-time career, John still managed to make investing in real estate a priority and invested in one additional property per year.

John is an avid stock investor within his RRSP account using his own and his company’s contributions and we had a great conversation around SELF DIRECTED, educated, conservative, stock investing as well.

Show notes:

Final thoughts, I couldn’t find my proper mic for in person interviews so please do turn up the volume as I sound quiet and I know for future episodes when I am serving/consuming wine, to remove the wine charms 😛

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

This episode is brought to you by Rock Star’s Real Estate’s Free Training Class: rockstarinnercircle.com/erwin.  As always, I only ever recommend services, investments that I would invest in myself and I have attended this training class at least twice, I’ve been a consumer of Rock Star’s newsletters, events, VIP events, etc. since 2010 and highly recommend them. Recently, I’ve been recommending the Free Training class even more often as I’m finding many novice investors, even the highly educated ones with post graduate degrees (including my brother, Tony, who has a higher IQ than me and my cousin Simon, a professional engineer, who have both recently registered) would benefit from fundamental, real estate training for beginners.

The class is 90 minutes, it will teach you about opportunities in Ontario’s golden horse shoe to invest in. There is no charge, no commitment, and I recommend every investor and entrepreneur to take this class at least once.

To register, the link is rockstarinnercircle.com/erwin

Developing Different & Interesting Places with Steve Kulakowsky

/0 Comments/in /by

This week we are talking to Steve Kulakowsky, co-owner of Core Urban Inc., where him and partner Dave have renovated and converted a 26 unit apartment building into condos, turned a former school into 36 condos, and transformed a few other dated and rough buildings into attractive, interesting places for people to call home in and around downtown Hamilton. Steve’s story in his rise to fame and success contains many lessons for new and old investors, so I’m really excited to share his story with you. Do make sure to check out Steve’s portfolio on his website at www.coreurban.ca/projects/ as words do not do justice to what Steve means by “interesting places”

Check out this article as well on Why restaurant veterans are ditching Toronto for Hamilton. The article mentions several restaurants located in Steve’s buildings on King William in downtown Hamilton.  The article says a lot about why people from all walks of life are moving to Hamilton. Quoting the article “$25-a-day parking, brutal traffic, high prices, miserable people and the money-rules corporate restaurant scene.”

screen-shot-2017-01-10-at-4-18-30-pm

Empire Times – Mix of restaurant and commercial spaces

Reading between the lines, these restaurant professionals are quitting their jobs to start their own ventures in Hamilton partly because the spaces, rent, renovation costs are so much less.

If you enjoyed this interview, please leave a review on which ever platform you’re using. If you’d like to say thanks to Steve, I’m sure he’d appreciate you dining at one of his tenant’s restaurants, or if you know a commercial property coming up for sale please let Steve know!

To reach out to Steve, you can contact him through his website here: http://www.coreurban.ca/general-inquiries/

On twitter: https://twitter.com/coreurban

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Thanks for listening! Until next time!

Tom Karadza – From Zero to Profit 500 REI Business

/0 Comments/in /by

This week, we have a very special guest in Tom Karadza (https://twitter.com/tomkaradza), co-founder and co-owner on Rock Star Real Estate, a two time Profit 500 company, which makes Rock Star one of the 500 fastest growing companies in Canada. Rock Star manages a membership of over 800 investors called the Rock Star Inner Circle and you can learn more about it on their website www.rockstarinnercircle.com.

Even though Rock Star members invest in every real estate strategy imaginable, they are best known for rent-to-own, having members transacted on 1,800 – 2,000 rent-to-owns to date. If anyone out there has done more in Canada, kindly let me know because I don’t think any other group or company comes close.

During this interview we talk about the day Tom was yelled at in front of his co-workers for missing a sales target which was the catalyst for Tom to change paths and begin his and brother Nick’s journey to starting Rock Star Real Estate.

img_6959-1

We talk about the investment of Tom’s money, time, but more importantly, the sacrifices of family time and health to take the business where it is and shares his lessons learned. We talk about rent to own as a strategy, how it works, which markets the strategy is best for, what makes certain investors successful or not so.

For fans of gold and silver, like myself, Tom gives his recommendations on why gold and how much we should own.

We could have gone on for hours, so if you listeners enjoy this episode please let me know! preferably leave a review on whichever platform you are using to listen e.g. on iTunes (I read it all) or simply email me. Anyways, without further ado, I present to you Tom Karadza

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Thanks for listening! Till next time!

How to Develop Land with Charles Wah

/0 Comments/in /by

Charles Wah was born and raised in Hamilton where he invests in many forms of real estate, from rent to own, long term hold, a commercial building and, for the topic of today’s discussion, land development where they have two proposed developments for a total of 150 townhouses.  Charles is a full time entrepreneur and co-founder of the Gateway Group, his real estate and development company.

Charles was a finalist for Canadian Real Estate Wealth Magazine’s newcomer of the year, he is a proud member of the Real Estate Investment Network, a Rock Star VIP member, Hamilton-Halton Builders’ Association, and Hamilton Chamber of Commerce. Charles is always looking to connect with like-minded entrepreneurs to network and raise each other up.

In his personal life, Charles is a sports fanatic, especially soccer. We’re actually attending Major League Soccer’s Eastern Conference Final tonight to cheer on the Toronto Football Club and depending on when you’re listening to this, hopefully we won! So without further ado, I give you Land Developer, Charles Wah.

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

In this episode we discuss:

  • The family real estate business
  • Why Canada over Malaysia, I heard the beaches there are lovely
  • The decision to go full time real estate entrepreneur
  • Feedback on the different networks he belongs to: REIN, Rock Star, etc…
  • Why focus on land development?
  • Financing land acquisition
  • What’s a vendor take back mortgage?
  • Starting out
  • Target return on investment
  • Stage of land development
  • What to look for in a parcel of land
    • Location (transit, infrastructure, schools, shopping, other amenities, is the surrounding area mature or being developed?, etc)
    • Is the surrounding area mature or being developed?
    • Are there subdivisions in the area? If so, are they single family houses, townhouses, etc?
    • Sources of noise (commercial, industrial, road, highway, etc
    • Access to a highway
    • Lot size and layout (square, rectangle, pie shape, irregular, etc)
    • Lot grading (flat, sloped, etc) including any topographical constraints (e.g. steep slopes)
    • Zoning
    • Designation under the municipality's Official Plan (may differ from zoning)
    • What density is allowed in the current zoning and designation? What is the existing density in the surrounding area? Does your proposal fit the character of the neighbourhood?
    • Are there any environmentally sensitive features such as woodland, watercourses, etc? If so, are they regulated by any
    • local conservation authorities? What setbacks will be required from these features and how much of the property can be developed?
    • Are there municipal services (sanitary and water) available at the street?
    • Are there any existing buildings? If so, can they be rented out to mitigate costs in the short term? Are the buildings on septic or sewers, well water or municipal water? Are there any heritage designations?
    • Is the property on a major road or side road?
    • History of the site
    • Any possibilities of contamination in the soil?
  • Costs for development
    • Land Acquisition
    • Development Soft Costs and Professional Fees
      • Legal
      • Planner
      • Architectural
      • Landscape Architect
      • Traffic
      • Environmental
      • Geotechnical/Soil Tests
      • Noise/Vibration
      • Stormwater Management
      • Archaeological
      • Marketing
      • Financial Consultants
      • Engineering
      • Surveying
    • Servicing Costs (i.e. Hard Costs)
      • Demolition
      • Tree Removal
      • Silt Fencing
      • Signage
      • Earthworks
      • Miscellaneous Site Works
      • Stripping/Grading
      • Fill Requirement
      • Hydro
      • Street Lighting
      • Road Works
      • Sanitary
      • Water
      • Stormwater
      • Lots/Street Trees
      • Landscaping
      • Entry Features
      • Retaining Walls
      • Fencing
      • Parks
    • Municipal Costs
      • Application Fees
      • Engineering Fees
      • Utility Fees
      • City Development Charges
      • Regional Development Charges
      • Park Levies
      • Special Area Levies
      • Credits/Recoveries
      • Local Improvement Charges
    • Finance Costs
  • Skills a developer needs
  • Tools and resources
    • Google Earth Pro
    • Hamilton Maps (http://map.hamilton.ca/)
      • City Of Hamilton’s online interactive mapping tool which contains lots of useful information. For example, not only can you see zoning but you can also view infrastructure on the map such as sanitary and water to see if the land is serviced.
    • MPAC (https://www.aboutmyproperty.ca/)
  • Advise for novices

From Refugee to Real Estate Land Developer

/0 Comments/in /by

You can read Tahani’s bio here: http://www.tahani.ca/about.aspx

How I like to introduce Tahani, is that she is living large. A super successful real estate investor who started out buying new construction, has owned 39 properties, and now constructs her own properties – including a 48 town houses project. But she comes from the humblest beginnings having lived her early life in a Jordanian refugee camp. She married at the age of 15 to a stranger and immigrated to a country she’d never heard of where we speak a language she did not know. Tahani’s story of determination and entrepreneurial spirit inspires me. I knew I had to share it with all of you.

My apologies if I sound off and you can hear my coughing, as I’m getting over a cold, but I couldn’t delay this interview because Tahani is in serious demand as an international speaker, author, business owner, investor, mother, etc…

In this episode we discuss:

  • What Tahani is all about
  • The major life changing event of getting married… at the age of 15
  • Getting started in real estate
  • Focusing on real estate investments
  • Starting a business at a young age
  • How regular realtors and investors clash
  • Financing land development with all CASH
  • Contractor challenges
  • Sourcing deals for land development and developing those key relationships
  • The moment Tahani decided to learn everything there is about investing then to teach anyone who wanted to know. Her belief in abundance.
  • Investor agent certification: http://www.savvyinvestoragent.com/
  • What to look for and why hire an Investor Savvy Realtor
  • Tahani’s book for beginner and intermediate investors: https://www.amazon.ca/dp/B006ISI2OO/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1
  • Email info@tahani.ca to connect
  • Tips for raising successful, empowered children

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”

Lessons from Managing Thousands of Tenants

/0 Comments/in /by

Diane is possibly the most highly rated Property Manager that I personally know.  Diane operates a highly successful property management company in Kitchener-Waterloo-Cambridge and every referral I’ve ever sent her has glowing feedback.  Each year, her company manages over 600-700 tenants across student rentals, apartment buildings, small multi-family, rent-to-own, and single family homes. It also helps that Diane is a practicing Paralegal who takes tenants to court when needed. She can practically recite the entire Landlord Tenant Act so tenants know not to question her authority.

In this episode we discuss:

  • The truth about appearances on social media
  • Diane’s most recent acquisition and the numbers
  • Who shouldn’t invest in real estate
  • How to spot bed bugs
  • How to avoid getting fleas on you
  • Ideal neighbourhoods in Kitchener-Waterloo-Cambridge
  • What happens to a market when rental licensing is introduced
  • Tips on managing tenants
  • Type of property for maximum appreciation
  • Ease of permitting basement suiting between different towns
  • Are student condos good investments?
  • Advice on choosing locations for student rental properties
  • Dealing with asbestos in your building

If you would like to reach out to Diane, here is her email: acso@rogers.com and website: http://www.thehome4u.ca/

Podcast available here:

Google Play: http://goo.gl/CAM5Mn
On itunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr

Download as an MP3 by right clicking here and choosing “save as”