Three sleeps later and I’m still so disappointed in the Federal budget. 

Hello and welcome investors to the Truth About Real Estate Investing where it’s never been all sunshine and rainbows. My name is Erwin Szeto, Top 20 Real Estate Influencer in Canada, host of this tell it like is podcast ranked #81 in all of ITunes Business, my team and I have transacted on over $440,000,000 of income properties translating into over 45 self made real estate investor millionaires in Ontario where it’s harder than ever and the new budget makes me sick to my stomach.

Sadly I knew a tax grab was coming since our Liberal government loves to spend and go into debt. Someone was going to have to pay the piper which played into my decision to start selling off part of my portfolio in Canada. Thankfully those houses close in May so I’m good there. I have another house going vacant at the end of this month as I told the tenants back in December I was planning on selling.

A renovation is needed as the tenants were there for 9 years but the scope will have to be minimal for a quick turnaround to stage and list. I’ll set my asking below market and hold offers requiring a closing before June 25th of course.

Federal, Provincial, Municipal governments, you asked for it and I’ll be here educating hard working, middle class Canadians all day and night so we don’t have to be subjected to your onerous policies. 

In case you missed it, in 2022, the Ontario provincial Liberal said they’d get rid of Doug Ford’s Nov 2018 rent control exemption on new construction.  The NDP promised to go a step further, promising “full rent control … none of this changing the rent on a vacant unit,” former NDP Leader Andrew Horwath said, the honourable current mayor of Hamilton, On.

Link: https://nationalpost.com/news/ontario-election/ontario-liberals-promise-to-reinstate-rent-control-as-it-existed-before-2018-election

Needless to say we’re going to make real estate investing great again for my clients and family.  I’ll continue to share our journey to divest our Canadian investments to diversify, reduce risk, improve cash flow where there is no rent control in the landlord friendly USA. Our current target markets are Atlanta, Savannah, Georgia; and Dallas and Austin, Texas.

Ownership structure wise, it’s looking like Cherry and I will own our US company personally to at least maintain $250,000 capital gains inclusion at 50% for each of us and load up on liability insurance. Thank goodness mortgages in the USA are commercial style, DSCR so my personal credit in Canada matters little. It’s all about the quality of the deal and I can find those all day with SHARE’s help. Not advice, just sharing what I’m doing. Please seek professional advice. 

Side Hustle 14 Houses in Georgia USA. Giving Back To Entrepreneurs With Shawn Bedard

On to this week’s show! My friend Shawn Bedard who I first met at REIN over ten years ago and our real estate investing paths were quite different. Back in 2010, Shawn couldn’t find deals that make sense in Ontario so he went to landlord friendly USA and bought 4 houses in Atlanta and 10 in Memphis, Georgia. His experience and investment went…. I’ll let him SHARE.

Other than real estate investing, I’ve invited Shawn on the show to discuss his volunteer work at a non-profit organization called Entrepreneur’s Organization (EO), specifically the Accelerator program where Shawn leads the initiative to guide entrepreneurs with $250,000 to 999,999 in revenue USD to get over a $1 million USD and become a full member of EO.

EO has been an invaluable resource for entrepreneurs like Shawn and I. I luv it hence I joined the board of our Toronto chapter.  What I luv about EO members is they’re kind, successful people who all want to make their mark in the world. Our values are:

• Trust and Respect. Each of us is unique and equal. …
• Thirst for Learning. We have an insatiable curiosity. …
• Think big, be bold. We innovate, take risks and see opportunity in a challenge. 
• Together we grow. We are committed to each other’s growth and well-being.

To learn more about EO’s Accelerator program

https://eocanada.com/accelerator/

To connect with Shawn:

LinkedIn: https://www.linkedin.com/in/shawn-bedard-65a3/?originalSubdomain=ca

Web: https://jigtechnologies.com

To Listen:

HELP US OUT!

UPCOMING EVENTS

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

W: erwinszeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/

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.