I’m always out there networking and connecting with other real estate investors in our community.
I’m on Instagram, Facebook and Twitter to keep my finger on the pulse of what investors are interested in or what’s going on.
Currently, the market has turned, interest rates shot up, and credit and capital markets have dried up.
SVB and Credit Suisse Bank are gone, and central banks around the world have promised to provide liquidity, meaning more inflation and economic turmoil, which is great for mortgage rates.
We’re already seeing the real estate market pick up, and prices are well past the bottom, which is looking like it was in August.
I wasn’t expecting interest rate cuts in the US or Canada till early next year, but with all the current happenings, the bond market has moved up the timing and increased the size of cuts.
Sadly we’re seeing novice investors and coaches not only lose their investments but go bankrupt.
Real estate investing is not supposed to be like this when done right, which is slow, boring, and with cash flow.
As the Warren Buffet quote goes, “when the tide goes out, you realize who’s been swimming naked.”
While gurus are selling coaching and courses on how to high leverage and invest in real estate with little capital, that’s too much risk for our 350-something clients – None have gone bankrupt, and they’re actually thriving.
I wonder if the other coaches and gurus out there can say the same!
If you, too, want to learn how to invest in the right way for most people, most of the time, I’m hosting a webinar TONIGHT on one of my favourite investment strategies: student rentals. No charge!
If you want to learn how the strategy works that allowed my clients to raise their rents 40% over last year’s market rates, you’ll want to tune in.
Invites have gone out in our email newsletter to our 10,000+ subscribers.
If you’re not already subscribed, I recommend you do and share with anyone you care about. www.truthaboutrealestateinvesting.ca, simply type in your name and email address on the right side, and you’re good to go besides checking your spam 🙂
This coming Saturday as well, for the very first time, Cherry and I will be hosting our monthly iWIN meeting in Whitby, Ontario, immediately followed by an income property tour in Oshawa led by our team member, coach Steve Phillips of HGTV fame.
In the meeting, Cherry will share her top tax tips for 2023.
IMHO, this is the most challenging Accounting year with all the new changes, anti-flipping tax and Under Used Housing Tax.
I’ve been following the economic story as always, with Silicon Valley Bank’s demise and US Federal Reserve’s bailout.
I’ll present data that shows where interest rates are going, so if you’re deciding between fixed and variable, you won’t want to miss this.
14 Properties: Too Fast, Too Soon, Nearly Broke With Ben Bergen
On to this week’s show!
We have Ben Bergen, who has acquired 14 properties over a short period and has the scars to prove it!
Ben is a graduate of one of those many $13,000 per year group coaching programs, spent close to $50,000 and in his words, he grew too fast, too soon, ego-driven, nearly lost his shirt when he had 3.5 major renovation projects on the go.
My observation is, if not for Ben’s sweat and hard work on the tools as he is in construction, he would have ended up bankrupt like some of his coaches and fellow students.
In the business world, Ben filled both the visionary and integrator roles.
If his business was Apple, he was both Steve Jobs AND Tim Cook or Steve Wozniak. As in, Jobs could sell big dreams and raise capital, but Steve Wozniak had to build the actual computers, or Tim Cook had to make the Operations as smooth and efficient as possible.
In my study of failed real estate investors, they were incredible at raising capital, and their influencer marketing was expert level.
However, they could not execute their vision of on-time renovations on a budget in a challenging environment in construction.
The truth about real estate that no one is talking about; there are more folks out there than ever trying to raise capital from veterans and weekend guru workshop graduates, BUT passive investors/lenders have dried up.
Back to Ben, if not for some prudent decisions and his skillset, Ben would be in huge trouble; hence it’s best you give this episode a listen.
Ben lives and invests in Sarnia, has a construction background, has since left his six-figure job and pension behind, and is starting up a property management company with the help of coach Elizabeth Kelly.
Please enjoy the show!
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 FREE Online Training Class. We will be back in person once legally allowed to do so, but for now, we are 100% virtual.
No need for you to reinvent the wheel; we have our system down pat. Again that’s www.infinitywealth.ca/events and register for the FREE Online Training Class.
To Follow Ben:
HELP US OUT!
BEFORE YOU GO…
If you’re interested in being a successful real estate investor like those who have been featured on this podcast and our hundreds of successful clients please let us know.
It is our honour to give back and educate others on how we build cash flowing real estate portfolios using all the best practices shared on this podcast, from the lessons of our hundreds of clients and of course our own experience in owning investment real estate.
If you didn’t know already, we pride ourselves on being the best of the best real estate coaches, having the best property managers, contractors, handy people, cleaners, lawyers, accountants, everyone you need on your power team and we’re happy to share them with our clients to ensure your success.
New investor or seasoned veteran investor, we can help anyone by providing our award winning coaching services and this isn’t all talk.
We have been awarded Realtor of the Year to Investors in 2015 by the Real Estate Investment Network, 2016 by the Canadian Real Estate Wealth Magazine and again in 2017 because no one told the judges no one is supposed to win the award twice but on merit, our peers deemed us as the best. In 2018, we again won the same award by the Real Estate Investment Network.
Hopefully being the most decorated team of Realtors in Ontario will make you consider us for your first or next real estate investment. Even if you don’t invest in our areas, there’s a good chance I know who would be ideal for you.
I’ve been around for a while, some Realtors are talented at servicing investors there are many with great ethics. The intersection of the two, talent and ethics is limited to a handful in each city or town.
Only work with the best is what my father always taught me. If you’re interested, drop us an email at firstname.lastname@example.org.
I hope to meet you at one of our meetups soon.
Again that’s email@example.com
Infinity Wealth Investment Network – would you like to know how our investors returned 341.8% on positive cash flowing real estate over the last five years? On average, that was 68.4% per year.
Just imagine what winning in real estate could do for you.
If you would like to know how we did it, ask us how by calling 289-288-5019 or email us at firstname.lastname@example.org.
Don’t delay, the top markets we focus in are trending upward in price, so you can pay today’s price or tomorrow’s price.
Till next time, just do it because I believe in you.
Hamilton, St. Catharines and Toronto Land Development, Real Estate Investor, and soon to be builder.