Financial Planning Wealth Hacker Style with Kathleen van den Berg, MBA, CFP, CLU

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How is your perspective on life?

I generally prefer to keep things light on this show, but I’m going to take some liberties this week and stray from the normal.

A very good friend was participating in a charity 50km bike ride on Sunday and his friend suddenly passed while on the ride, likely due to heart attack. My friend was the last person to see him alive and he’s obviously upset by this.

In times like these, life is put into perspective. I question what I’m doing all the time and today I ask, is what I’m doing right now what I want to be doing? Do I spend enough time with the people I care about? How do I improve how I spend my time? I know for you listeners who are commuting while you listen, many would like to commute a little less. My commute was over an hour each way on a train to work downtown and it drove me nuts every evening when all I wanted to do was get home.  

Please do make sure you design a life you want and don’t wait for something terrible to happen to get started, like Tom Sullivan shared on his show. He didn’t get started building his retirement fund of ten investment properties until he got cancer. Our award winning joint venturer of the year client, Justin Chung, didn’t start building his empire until his dad was really sick.

If you were to pass today, is your family set up in a position to continue without you financially? I had a client pass just two years ago, leaving behind his wife and two kids, the elder of which just graduated university with plans to go to Dentistry school. When I first learned of his passing (now don’t judge me, I have a personality of a critical thinker), my first thought was, “thank God they have real estate.” Two investment properties that had appreciated significantly, over six figures of equity each, and return cash flow over $1,000 each house, each month.  It’s not an enormous sum of money, but those are quality assets that give the family one less thing to worry about as they attract great tenants and the rents keep going up. Give it another five to ten years and this widow will be a real estate millionaire and will be better off than most widows.

What is the lesson?  I ask myself that question every time something bad happens. In times of sudden passing like a heart attack, I ask myself if I lead a lifestyle conducive to someone living a long and healthy life. To share in my learnings from being the son of a doctor and the patient of a high performance Naturopath, I limit my salt and sugar intake, I don’t eat much fast or processed food, I have 4 or 5 workouts planned this week and I sweat a lot in those workouts. My workouts are so hard, I have doubts every time if I can finish.  I’m lucky as I’ve found exercise that I enjoy doing for fun in Brazillian Jiu Jitsu and Crossfit. I get plenty of sleep most nights.

I’ll also take a moment to constructively criticize the celebration and acceptance of dad bod, how being overweight is socially acceptable.  It is socially acceptable, no one is judging, I’ll just counter with a question, “Is the lifestyle and diet that leads to being overweight the one that provides one with high energy to conquer the day’s work and workouts? Does having a dad bod predict a long and healthy life?” You all know the answer. I’m no health or nutrition expert, so I’ll leave it there. I do have the occasional glass of wine or dessert, but my body fat % is well under 10%, I have visible abs and have for over four years. I am 40 years old. This is my dad bod and this will be my kids’ context for a lifestyle to follow.

Speaking of stuff I’m no expert at, as a critical review of this show informed me, and I quote: “Erwin does not know the nuances of RESP’s”, and it’s true, I don’t. I chase enough shiny stuff already as I’m preparing to start option trading in the near future and I’m car shopping for a new BMW today.  That’s not the important work I do… the work I pride myself on is helping everyday, local investors become millionaires and multi millionaires and learning from multi-multi millionaires. Fun fact for the day is none of them told me RESP’s was the key to their success.

Quick side note: if you have criticisms or there is a gap in wealth building knowledge you would like filled by an expert, please drop me an email.  I have an extensive network of the best of the best experts who I can request a favour to have on the show.

Financial Planning Wealth Hacker Style with Kathleen van den Berg, MBA, CFP, CLU

Back to the show 🙂 To be clear, my financial position and goals are different than most. I’m looking for 30% returns from my investments. My overriding principle is the investment you do is better than the investment you don’t. If I never lost 40-60% of my stock portfolio during the last major recession, I would never have given my full focus to real estate and the money I lost in stocks is pennies compared to the money I’ve made as a real estate investor.

Anyways, enough from me.

As someone not qualified to speak to RESP’s and retirement planning, I had my friend Kathleen van den Berg come on the show, who has a lot of letters behind her name and is qualified. The Truth About Real Estate Investing show continues to bring you experts in investing.

Kathleen has her Masters in Business Administration, her CFP – Certified Financial Planner and CLU – Chartered Life Underwriter, the Canadian wealth transfer and estate planning designation. She also owns 10 investment real estate properties.

Kathleen is here to explain the three buckets of assets everyone needs and which order to fill them, and has even more controversial opinions to share on RESP’s, LOL. Note that Kathleen does fee-based financial planning and is one of the rare CFP’s to do so, to ensure she can provide you unbiased financial advice unlike mutual fund sales people, so we are really lucky to have Kathleen on the show so we may all learn.

If you are already on my email list, you will receive my type notes from the interview. If you would like to receive my personal notes from interviewing guests, simply go to www.truthaboutrealestateinvesting.ca and enter your name and email on the right.

Without further ado, I give you Kathleen van den Berg, MBA, CFP, CLU and RESP expert. 😉

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To follow up with Kathleen:

Facebook: https://www.facebook.com/groups/DurhamMoneyMatters/
Web: http://www.kavwealthstrategies.com/
LinkedIn: https://www.linkedin.com/in/kathleen-van-den-berg-mba-cfp-clu-7b20b258/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

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

Flipping Houses in Detroit Starting at $57,000 For A House with Savio Almeida

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Have you seen The Avengers Endgame?!?

We did just last night and holy cow!! I won’t share any spoilers, but I will share that I’m a superhero movie fan. I’m wearing my Iron Man shirt as we speak, I’ve watched every Marvel Universe movie at least twice, some three or more times. I’m so nerdy that I caught pretty much every inside joke intended for those who watched the past movies, including Hulk a Hulka Burning Fudge and Steve Rogers’ “on your left” reference from Winter Soldier.

Or when Captain America unveils his shocking new super hero powers.

I know it’s all fiction and preposterous stuff, but at the root of what superheros do, they all sacrifice and fight for good and the greater good. Which reminds me about investing…

I have had so many people tell me it’s too late for them to invest. Not because the opportunity has passed, but they feel there is not enough time to invest and capture all the benefits for themselves. I get that, but let’s not forget about all those who you can help by getting started today, like your kids, grandkids, nieces and nephews, or your favourite charity.

I’m actually seeing some investors buying houses and condos not for cashflow, but rather to rent out until their kids need the house down the road. For my wife and I, I think we’ll move out of our house eventually and leave it to the kids, while we live in a condo by the lake. Whereas many non-investors I know are banking on the equity in their homes for their retirement.

Just imagine a life where you live mortgage-free. I see it in friends my age, and they have so much more time and freedom for travelling.  I can’t wait to be there soon, and that’s what I want for my kids instead of these $4,000-7,000 per month mortgages buyers today have in order to own a house. Less if they plan on living in a condo, but I’d prefer to see my grandkids grow up in a house.

Speaking of buying houses, my team of investment specialists conduct tours of the elite 8 towns for investing in Ontario.  This past Saturday we were in Brantford, Ontario and identified a gem of a property that was well maintained and ticked most of the checklist boxes of the Wealth Hacker Investment Funnel. It was located in a elite 8 investment town, there are several options for excellent property management services, at first look the property would be an ideal candidate for a legal basement apartment, and it would cash flow quite nicely.  As I speak, an iWIN member is preparing an offer.

That is the objective or our Elite 8 town tours, to have licensed real estate professional specializing in investments show newer investors around a top town for investment. These are fun networking events as well to meet like minded people. We even hosted a certified appraiser for one of the big four banks, a foundation contractor, plus all sorts of other real estate entrepreneurs on our last tour. Everyone had such a great time and great conversations, the lunch we hosted immediately after the tour went over two hours.

We have two tours already planned for May in the Elite 8 investment towns Barrie and Hamilton. To be notified of our tours, simple go to www.truthaboutrealestateinvesting.ca add your name and email on the right side and you’ll be notified over email when the tours are available.

Note that spaces on tours are limited, we have sold out every tour we conducted in 2019, so as soon as your hear about one, don’t delay in registering to avoid disappointment or worse, missing out on a great deal.

Save the date: Nov 9th: iWIN’s Wealth Hacker Conference, all day event.  We just signed our keynote speaker and can’t wait to announce who it is in the coming weeks but for now, save the date.  iWIN members, your general admission is included in your membership fees!

Flipping Houses in Detroit Starting at $57,000 For A House with Savio Almeida

On to this week’s guest who lives and invests in Windsor, Ontario but his full time work is flipping houses in Detroit, Michigan. He started there in 2018 after a much more challenging, low yielding flip where he lived in Oakville, Ontario. After tasting success in Detroit, he moved the whole family to Windsor, made lots of connections going to any and all networking events, including iWIN. If you can believe it, Savio paid only $57,000 for a three bedroom house in a nice neighbourhood in Detroit and flipped it for a $43,000 profit. Listen to his story of how he did it!

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To connect with Savio:

Instagram: https://www.instagram.com/realestateinvestorsav/
YouTube: https://www.youtube.com/channel/UC8BkhR1T9LVj7wfpJcs1YRg
Facebook: https://www.facebook.com/realestateinvestorsav/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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Ten Houses, Financial Peace, in Only Eight Years with Evelyn Lamarsh

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How goes your balancing act with life, work, investing and charity?

Last week, we definitely pushed our limits to the edge. My wife and I are parents to a three and five year old, Cherry is in her final stretch for tax season doing Accounting for over 100 local real estate investors, our charity (for which Cherry is VP of Finance and I am President) had one of our three major events this past weekend, fulfilling the wish lists of 32 of Hamilton’s poorest families.

Thank you to all our donors and volunteers.  If you see my post on Instagram, you’ll see Batman and Thor, God of Thunder, were in attendance to spread some cheer.

On top of all of that, we closed on our newest investment property on Thursday, and it’s one of the worst closings I’ve ever seen. Mostly our own fault, and the general difficulty of the lending market and lots of learning lessons.

The biggest lesson here is to start your financing process earlier than we did. Most of you are on the ball, as you have your financing in order before conditions are lifted. We did not have a financing condition, so we let that deadline slip a bit too far. I do, however, want to thank Butler Mortgages, specifically Dave and Michelle, as they bore the brunt of our challenges, but got it done.

Also, I’d like to thank Crystal at CAP Law for getting our deal closed and doing an excellent job coordinating with the sellers’ lawyers.

Real estate investing can be all things: easy, challenging, fun, challenging, rewarding, challenging – yet worth it.

Tonight is game 7 of my hockey team, the Toronto Maple Leafs vs. Boston. It’s also my favourite team, the Toronto Raptors, game 5 of their playoff series. But guess what I’ll be doing? I’ll be in Hamilton with a wet/dry shop vacuum to get the water out of the basement at our newest property.

This is one of the realities of investing, the best deals are often houses with challenges. This one, the basement is known to leak, but it’s a very easy fix by rerouting the downspout away from the foundation. I’ve already done that, but now I need to get the rain water out of the basement to prevent mold growth in our unfinished basement. I’ve always wanted to own a shop vacuum anyways, and I’ll be home in time to watch the remain two thirds of the game.

If you don’t like doing any work on your properties that’s totally OK. I was just way too slow in booking my handyman to do this job and, again, I’ve always wanted a shop vacuum. 🙂

Ten Houses, Financial Peace, in Only Eight Years with Evelyn Lamarsh

Speaking of investing being challenging and worth it, that brings us to this week’s guest Evelyn Lamarsh, our client since she was 26 years old when we met in 2011. Fast forward to today, she is one of those few investors with 10 properties and living in financial peace.

Evelyn and husband Mike are living the dream. Evelyn has her dream job, Mike retired from his job in his early 30’s, they have two young children they get to spend lots of time with, and they just bought a 30 foot boat to spend family time on and entertain friends and family. A boat paid for by their investments.

Financial peace and living the dream are indeed possible with some early hustle as explained by our client and more importantly friend, Evelyn Lamarsh.

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To follow up with Evelyn:

You will find Evelyn at iWIN events and;

On Facebook: https://www.facebook.com/evelyn.difrancesco

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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Ex CRA to Full Time AirBNB Operator Bryan Kirow

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What is the deal with AirBnb rentals and short term rentals?

First off, I’d like to thank everyone for leaving their reviews on iTunes. It results in this show being one of the top investment podcasts in all of iTunes. If you have any constructive feedback or questions please send them in and not write them in a less than 5 star review.

We received a less than stellar review about my lack of understanding of RESP. Admittedly, I don’t understand the nuances of RESP’s, nor do I care to, but don’t listen to me. My investments for my kids’ education plan returned only a couple hundred thousand in less than five years.

Personally, I’m a problem solver, and the problem for a dad with young kids is affording their education. It’s going to be expensive. A Globe and Mail article forecasted my kids’ education costing $70,000 each for a four year undergraduate degree for tuition alone.

I have two kids, so I need to make an extra 70k times two. How do I solve this problem of affording university?

In hindsight, investing in real estate has worked out quite well based on the results of equity gains in the hundreds of thousands while my kids are only five and three years old.

In asking Certified Financial Planner, Masters of Business Administration holder, investor of 10 properties, and upcoming guest of this show, Kathleen Van Den Berg, she informs me the nuances of RESP’s maximum grants per lifetime are $7,200 per kid. Again, I don’t understand the nuances, I have shiny-thing syndrome, but my problem is saving $70,000 big, not $7,200 in grants.

I’m not saying don’t invest in RESP’s, I think for some they make a lot of sense, but personally, for my kids, I need a lot more savings and flexibility. More and more I see the quality of education for Sales, Marketing and Business to be better outside of traditional brick and mortar universities. Back we can talk about that another time.

Ex CRA to Full Time AirBNB Operator Bryan Kirow

While we are talking about my kids’ houses, one of them we have changed strategy from student rental for college kids to a short term rental. What a coincidence I had an in depth learning session, I mean interview, of a full time AirBNB operator Bryan Kirow of Northern Host Kirow Management Inc with over 400 overnight stays in his units, and counting.

As you can tell from the interview, he’s quite bright. Upon graduating university he worked for the Canada Revenue Agency (CRA). For our American friends listening, that’s the equivalent to the IRS in the USA. Bryan worked there until life had him move out of town and he decided to make a full time gig of operating short term rentals remotely, as some properties are over 300km’s apart, and he’s acquiring more properties. Currently he owns four properties with seven units, but his portfolio is doubling in size in just a few months.

His investments have worked out quite well, as he’s often doubling or tripling the rental income of a long-term strategy, and at the same time avoiding many of the tenant issues from long-term tenancy. Bryan even shares the little known renovation to try to double his already tripled annual rents on his property in a vacation town. Doubled his tripled rents. I know that sounds weird, but when you listen it will make more sense.

Would you like my show notes?  The notes I’m taking during the interview, as I know many of you listeners are pre-occupied while commuting or cooking or working out while listening to this. If you are interested, I will include my notes in my weekly email that lets folks know the episode is available. Like you, I’m an investor, and here to learn. I’m finding typing my own notes is a good practice for learning. My notes can be yours too if you simply go to https://www.truthaboutrealestateinvesting.ca/ and enter your name and email to subscribe.

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To connect with Bryan:

NorthernHost.ca → click contact to get a message to Bryan

I have Bryan’s email too, but I fear we will break his inbox, so if you’re a client or iWIN member, simply ask.

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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Financial Peace with Rav Toor

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Are you ever really sure you know what you’re doing?

I regularly check in with our investment decisions and, more importantly, what my wife and I are doing as parents. No different than investing, a custom approach is best and kids with their personalities are no different.

Admittedly, I’ve taught my kids some controversial things. Today is international bully awareness day, so I thought I would share. My son enjoys hitting and wrestling, my older daughter not so much. So, I’ve told her to tell him to stop and, if he doesn’t, walk away. If he keeps pestering you, then hit him back, just not in the face.

I know many don’t believe in violence, but from everything I’ve read on bullying and from my experience, there are people out there who don’t understand words. So I view this as a learning experience under the safety of our home. My daughter learns to stand up to bullies and my son learns that unacceptable behaviour will result in being hit by the victim.

Even though their fighting drives me bonkers, to see how they are best friends makes it all worth it. Here they are, my daughter riding my son’s bike, because she got tired of riding her scooter. My son is copying me, how I was pushing my daughter when teaching her to ride without training wheels.

My family is my motivation to work hard to afford more financial freedom and financial peace. Financial peace is a term I first heard from this week’s guest, who is mega successful thanks to his TV show, The Everyday Investor. He has peace, as he does very little other work, other than starting his own church. He has peace, as he called his phone company to remove the texting function from his phone and he deleted all of his social media.

Financial Peace with Rav Toor

Rav was a Realtor and owned his own brokerage, plus several investment properties, but the lifestyle of hustle and the demanding schedule did not suit him. So he stopped being a broker and sold all his investment properties. Instead, Rav focuses on producing his show and teaching others how to invest passively in land developments. However, by far the majority of his time is spent with his wife and two teenagers. Financial Peace indeed, as Rav is rich, yet his favourite store is Old Navy and the only car they own is not fancy and over ten years old.

Here I am as a guest on Rav’s Show: https://www.youtube.com/watch?v=IzRuyalspiY

If you’re interested in learning more about investing in real estate, we have upcoming Street Smart tours of two of the elite 8 towns: Brantford and Barrie.

Saturday morning of April 27th, we have the former Economic Development Officer of Brantford leading our tour of potential investment properties. One property will be ideal for the recreational investor and another for more intermediate to advanced. The tour will be followed by a mastermind lunch with fellow local investors, including experts from the iWIN community.

To get your tickets: https://www.eventbrite.ca/e/iwin-april-27-brantford-street-smart-tour-tickets-59267081436

Save the date: Saturday morning of May 18th, same idea for Barrie: a street smart tour led by award winning Realtor and investor of 10+ properties, John Beddome. He was a guest on this podcast just two weeks ago, and has been investing in Barrie since 2007.  John will be hosting a tour of properties, followed by a mastermind lunch with fellow local investors, including experts from the iWIN community.

Save the date for now and stay tuned for how to buy tickets which will be in the show notes at the https://www.truthaboutrealestateinvesting.ca, or get on the email list so you are emailed when new episodes are released and informed when we host events.

Subscribe on Android

To follow Rav, again he doesn’t have social media:

Everyday Investor with Rav Toor: https://everydayinvestor.com/
Simple Church: https://simplechurch.ca/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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How to Prevent Basement Leaks with Manny Cabral

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The 40th birthday that never ends….

My clients, I call them the infill boys: they buy houses with large lot sizes and build a 2nd building on the same property.

They invited me dinner, a Raptors game, post-game drinks, midnight Chinese food, followed by a night cap of bubble tea because, why not?

My clients are Andy, Charles and Steve. They are my clients and, more importantly, they are my friends and it’s so great to have like minded friends. We can share business ideas and goof around so things NEVER get boring.  

At dinner, Andy was telling me about an opportunity to turn a suburban bungalow into a three family home with basement apartment and rear edition.  I know a little about investing, so I have questions around utilities servicing and parking, to which Andy has answers. We even used whatever was on the table to visualize the plan.

Here, I’m using my phone to represent the addition.  It was the rear addition to the napkin (main house), but now it’s the second storey to the main house.  Mind blown. Imagine buying a house for $400,000 and being able to convert it into a four family home for under $400,000.

With today’s market rents, that same property would generate $74,400 rent, plus utilities, per year. All under one mortgage. :p

It’s a dream, but hopefully we are two years from being two years away from making this a reality.  Assuming you have all the money you need for downpayments. Speaking of money…

New addition to the April 13th Agenda

What’s the #1 problem for real estate investors? How to systemize a real estate business, so we have added it to our agenda for April 13th. It is tax season after all, so I’m sure you’re all enjoying figuring out your tax stuff while the weather is all of a sudden warm and sunny. 🙂

How to better systemize your real estate business. And not just teach you – but show you the best systems by actual professional investors. We’ll have best practices for bank accounts, receipt keeping and filing, filing systems for both paperwork and online record keeping. We could go on!!!

Our instructors:

– Kristy Allison McDonald, owner/operator of BK Real Estate with an 80+ property portfolio including lots of flips and legal duplexes.  Kristy and husband Brady live on their new 50 foot boat in the summer in the Bahamas. That’s how systemized their business is.

– Cherry Chan, Real Estate Accountant, investor of a 10+ property portfolio, and Accountant to many of the top investors in Ontario. We got her in the middle of tax season at a massive expense, of course, so you all can benefit.

As per iWIN policy, we learn from the master class experts. Doers. Not Theory.

I have also asked Russell Westcott, JV Jedi, to offer more bonuses to attendees. I’ve negotiated, not ONE but TWO legal document joint venture agreements and the related checklist.  Russell has paid his lawyers a rate of $500/hour to prepare these documents and these will be free to attendees.  Attendees are saving Thousands with these documents alone.

April 13th, all day (9-5), Oakville. Click on the link for full details and to register: https://events.infinitywealth.ca/register

Or email Maria at maria@mrhamilton.ca

iWIN members: this meeting is included in your membership and will be recorded for your future enjoyment purposes.

How to Prevent Basement Leaks with Manny Cabral

Onto this week’s show!

I’m getting a lot of emails and seeing it all over the investor Facebook groups, folks are experiencing basement leaks. I’ve invited my secret contractor, friend and client, Manny Cabral, on the show. Just to warn you, he’s ultra-busy and selective of who he works with. He’s earned the right, as he’s so busy with his own portfolio and existing referral business.

Anyway, Manny is a real professional contractor. He used to manage government renovation contracts for government buildings and schools.  He’s used to large scale projects with lots of regulation and moving parts, which makes him well suited to be a general contractor, investor, and house flipper.

Manny, plus his two sons, are members of iWIN and he used to sing and play guitar in a travelling rock band. As the serial entrepreneur that he is, Manny also collected and sold Corvettes. When our dollar was near par, Manny was the biggest reseller of Corvettes in Canada, but that’s all boring compared to leaky basements, so have at it Manny!

Subscribe on Android

To follow Manny Cabral:

Web: primoinvestmentproperties.ca
Instagram: https://www.instagram.com/emanuelc101/
Facebook: https://www.facebook.com/primorenoinc/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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How to Invest In Barrie Easily And With Stable Cash Flow with John Beddome

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Is it weird to work on your birthday?

I kind of enjoy working, and our events allow me to see our clients and friends in person. This past Saturday, our team hosted 50+ investor on the iWIN Flip Tour in Hamilton. Our friend, client and iWIN member, Manny Cabral, is in the middle of flipping two properties so we could get the inside view. Literally, as some walls were not just closed, and Manny explained how the deal went down and planned renovations to maximize returns. Both houses were bought off-market, but will be sold on the market via our top Real Estate Agent team who has been working with investors for last four consecutive years.

One of the key factors of a successful flip is to purchase the property at a price below what it would sell for on the market. Often times the property is so unmarketable, and sometimes dangerous, that some owners prefer to sell off market. When selling a fully renovated, turn key property, the best practice in my experience is to sell it on market. Those who buy off market want a discount. If you’re looking to sell and maximize sale price, then you want to market the property to as many buyers are possible to be in a position of strength when negotiating, as our client and iWIN member Manny Cabral is doing when his flips are done renovating.  

As I’ve mentioned on this show, the market is often irrational in how it behaves. I once had two offers on one of my listings, one was our offer, at asking with conditions; the second was $80,000 higher without conditions. If the property was not listed, I would not have received that 2nd offer for $80,000 more. But do know that communication and positioning had to be executed perfectly to generate that crazy aggressive 2nd offer.

As is goes with my networking group, the Infinity Wealth Investment Network (iWIN for short), we will continue to teach about flipping and off market deals and wholesaling, along with our full suite of investment hacker strategies. Our guest speakers last Thursday, Ryan Carr and Susan White, have done it all: tiny houses, vertical splits, horizontal splits, storage rentals, rent to own. They know and have done it all, they are investment hackers which enables them to maximize returns on any given property.

Why is that important? Sometimes, a great deal will come across your desk and the amateur might think, “This is a great buy and hold” or worse, “I’ll pass”. Whereas an investment hacker would look at the same property and think, “This would be a great property for a coach house addition for short-term furnished rental to someone waiting for the insurance claim to come in and rebuild their home and we can 3x the rents of a single family buy and hold.”

Which investor do you think will come out of the next recession in the best shape?

Such is why we will continue to teach the latest and greatest at iWIN events:

As for our upcoming event:

April 13: [iWIN All Day Meeting] in Partnership with Russell Westcott: 7 Steps to Raise $100K+ Real Estate Raising Capital Academy-LIVE

VENUE – Sheridan College Conference Centre – we’re back!!

    • For iWIN members, this is included in your Membership. Tickets are available to purchase for non-members as this is a special event. Members, not sure if you’re registered? Email maria@mrhamilton.ca !
    • Russell Westcott, best selling author, expert instructor on the subject of raising capital for real estate investors is back to take an all day deeper dive on the subject of joint venturing where YOU the real estate expert will learn the expert secrets to attract capital partners for your real estate co ventures.

How to Invest In Barrie Easily And With Stable Cash Flow with John Beddome

On to this week’s guest!!

Sadly, the truth is there are few people I like in the real estate industry and even fewer in the real estate investment industry.  John Beddome is not only of the good ones, he’s one of the great ones.

John is a licensed real estate professional, he listens to what his clients want and gets them exactly that. The job is to guide investors as best as possible with the highest possible return on time and investment, and John delivers exactly that.

When I was checking John’s references (I check references for guests of the show 🙂 I was informed this client was showed seven properties by John, and the investor bought five of them because John listened and found them exactly what they wanted.

John is also an investor, a top 10% investor, as one of the few who achieve double digit investment properties at 12, having started in 2007.  Even more important is what a good man, husband and father he is, but I won’t spoil it for you here, but around the midpoint of the interview he had me choked up.

Finally, John is an original member of iWIN and member of the League of Extraordinary Real Estate Professionals that I personally endorse.  After you have a listen, you will understand how John qualifies.

Without further ado, John Beddome

To reach out to John:

Facebook:https://www.facebook.com/beddome
Web:http://investedinyou.ca/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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How To Get The Bank To Give You Mortgages On Investment Property with Dion Beg

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How were your 20’s compared to your 30’s or 30’s compared to your 40’s, … etc?

To me, it’s all a blur and went by so fast. I still look at my kids in astonishment and can’t believe they are mine and I’m responsible for them. Parenting should really be more regulated. LOL

By the time you’ve heard this, I will have turned 40. I can’t help but think back how much more I accomplished in my 30s than my 20s. What blows my mind is what I have planned for the next decade, and I thank you all for listening and following along in my journey. My birthday wish for all of you is to do what you can to build a stable, prosperous portfolio that meets your goals. Maybe one day we can grab a drink somewhere with a warmer climate and share stories, give thanks to our past selves for the hustle we put in so our retired selves could live a little more without worry over money.

This podcast also approaches a milestone of 100 episodes. It started with a crazy-nervous host with some odd ball questions, but top notch guests, as an experiment to do six episodes. We were far from perfect, and still are now, but we got it started and the podcast was ranked #55 on iTunes in the investment category.  An all Canadian podcast vs the whole wide world of podcasts, and it all started in my bedroom. I still record the majority of episodes from my home office.

To celebrate 100 episodes, I have a couple things planned. I’m inviting what I call “centurian investors” on the show to ask them their lessons from owning 100+ properties. What would they do differently so, as usual, we all may learn from their mistakes, their tips and tricks we can apply immediately, and for the long-term for our own portfolios. Even if you’re a beginner, would you want to adopt a centurion investor’s top strategies?

A couple quick announcements to make for our upcoming live and in person events.  In this world of internet and social media, these tools can not replace networking face to face where you will learn at least one thing to take your business to the next level.

March 28th: [iWIN] March Meeting – Off Market Deals, Tiny Houses, Vertical Splits!!

      • Our guest speakers include titans of our industry, Susan White Livermore with over 70+ properties and Ryan Carr who has bought about two houses per month for the last three years. Ryan just sold the Tiny house as well, so let’s find out how the deal went down and how much money he’s counting!
    • This really is a treat to have such high level investors come and share with us all to raise our collective skill and experience levels.  No where else do you find this level of talent in one room

April 13: [iWIN All Day Meeting] in Partnership with Russell Westcott: 7 Steps to Raise $100K+ Real Estate Raising Capital Academy-LIVE

    • For iWIN members, this is included in your Membership. Tickets are available to purchase for non-members, as this is a special event.
      • Russell Westcott, best selling author, expert instructor on the subject of raising capital for real estate investors, is back to take a deeper dive on the subject of joint venturing where YOU, the real estate expert, will learn the expert secrets to attract capital partners for your real estate co-ventures.
    • Getting mortgages is tougher than ever, the ability to raise capital for any business or investment is key to continuing the growth of your portfolio.
    • For tickets, go to events.infinitywealth.ca. Please don’t wait. Our events always sell out and early bird pricing ends April 5th for $100 off, or bring a friend 2 for 1 special. Again, events.infinitywealth.ca

May 30th: [iWIN Members Only Monthly Meeting] Mastermind Dinner

      • After countless requests for more networking time, iWIN is hosting a Members-Only dinner.
        The cost of this dinner is included in your iWIN Membership.
    • Location TBD and near Pearson Airport
    • There will be structured networking, so expect to be having new conversations with experts you have not met before.

Summer iWIN Socials: Mastermind On A Boat, Mastermind on a Bike – Niagara Wineries Bike Tour.

The epic 2019 continues!!!

How To Get The Bank To Give You Mortgages On Investment Property with Dion Beg

On to this week’s show!!

In 1964 a comic strip called “Wizard of Id” was published

In the first panel the diminutive tyrannical King character addressed his subjects from the balcony of his castle and emphasized the need for “peace and harmony”.

In the second panel the King continued by stating “We must all live by The Golden Rule”.

Traditionally, the golden rule is to do unto others as you would have done onto you.  That’s what nice people do. The tyrannical King, the central character to the Wizard of Id, is not nice so you can imagine the confusion by both the reader and the audience before the king.

In the last panel the jackass king character states “Whoever has the gold makes the rules.”

In today’s real world, the banks have all the cheap money, cheap money all us investors want, and on the show we have my old friend Dion Beg who specializes in mortgages for investors. He just so happens to belong to the #1 mortgage company in Canada, Butler Mortgage.

I’ve always believed in working with the best of the best, and bringing you the best of the best, hence I asked Dion to give us all an update on the mortgage markets specific to us investors and across multiple investment strategies.

Pay special attention near the end when Dion explains the break down of his clientele between recreational, intermediate and advanced. I may have many super-stars on this show, but as Dion shares, you don’t need much to build a healthy retirement nest egg. If you’re new to investing, start there. Because no one else is going to give you a pension for this little effort.

Without further ado, I give you Dion Beg.

To reach out to Dion Beg:

Web: https://www.mortgagesbydion.com/

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

W: erwinzeto.com
FB: https://www.facebook.com/erwin.szeto
IG: https://www.instagram.com/erwinszeto/
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Aha Moment for the Hamilton Basket Brigade and How to Invest in Brantford Like a 28 Year Veteran with Former Economic Development Officer Paisely Mackenzie

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80+ Houses in Only Three Years, Raising Capital on a Boat w Kristy and Brady Mcdonald

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Every investor’s greatest fear is buying a lemon of a property. A money pit, if you will.

I made that mistakes way back when I started. We were offered what every investor wants, an off market deal! We made an offer well below what the seller’s Realtor thought they could get and,  boom! We got ourselves a money pit. The house had a log foundation and the driveway was sloped to direct water into the basement window and onto the dirt floor of the cellar.

The water that came out of the taps was brown from time to time… I learned a lot from that house.

Mistake #1 – We didn’t get an inspection.  The brown tap water is a symptom of galvanized steel plumbing. An old type of plumbing known to leak, hence the insurance companies I use today won’t insure it. If you find it, you better have a plan to replace.  No insurance = No mortgage.

If you were going to renovate a house with galvanized steel, would you get permits and update the plumbing to today’s standards when renovating the bathrooms and kitchen or would you leave the old plumbing and just replace the bathroom and kitchen?

A mastermind member of mine, let’s call him Brian, called me and asked my opinion. He had an accepted offer conditional on home inspection, on a nicely renovated property BUT the home inspector found some improper electrical and the bathroom and kitchen fixtures were connected to galvanized steel plumbing. The same stuff I mentioned earlier that insurance companies will not insure. There were no permits taken out, obviously.

What would you do? You bought a house you thought would not need renovation, with a new kitchen and bathrooms, now you find out the electrical is problematic and the plumbing all has to be redone. Doesn’t that feel like bait and switch?

I told Brian what I thought his options were:

  1. Counter with the seller agrees at their own expense to get electrical and plumber permits to fix all the problems.
  2. Get a reduction in price to reflect the cost of remediation.  Not my ideal choice, because now you have to manage contractors and have a vacant property during the renovations.  This was Brian’s Realtor’s preferred option.
  3. Walk away.

A couple lessons here. Trust no ones’ renovations and workmanship, always get an inspection unless you plan on gutting the place anyways. Even brand new, I had my new construction houses in Brantford inspected. They had passed their electrical inspection, but my inspector found a mistake in the arc fault circuit interrupter that should not have passed inspection. The seller fixed it at their expense. My inspector also pointed out how the step was missing off the rear patio door, something required to obtain an occupancy permit allowing people to actually move in.

Houses are a big investment, an ounce of prevention is worth a pound of cure. Get an inspection.

On the other side, when you renovate, don’t cut corners. You don’t want that as your reputation, as the investor community is a tiny one. As Warren Buffet said, It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.

Our next Infinity Wealth Investment Network, or iWIN for short, meeting is here in Toronto on March 28th. If you’d like to come, you have to act fast as these events sell out.

You can grab your ticket here: https://iwinmonthly.com/optin

On to this week’s show!!

While my wife Cherry and I were on a cruise ship in the Caribbean, working the whole time, we fit in a podcast with our new friends Kristy and Brady Mcdonald. With partners who contribute both the cash for down payment and renovation, plus getting the mortgage, they have been able to acquire over 80 properties in just a few years. Some were flips so they only still own 60+ properties, depending on when you talk to them.

Pay special attention on how they are able to manage both the acquisition, renovations, and all those tenants. Also note that the Mcdonalds now spend a lot of time on their 50 foot boat in Florida and the Bahamas, cruising and exploring uninhabited islands. Their boat is called Living the Dream.

Kristy also survived a tragic boating accident as a teenager and lost her arm in the process.  She’s no victim though, as she practices a positive mindset.

I give you, Kristy and Brady Mcdonald.

If you enjoyed the show and would like to learn more about investing in real estate then you do not want to miss my Top 10 Tips On Real Estate. It’s FREE to Download!!

I’ve interviewed many of the leading authorities in real estate, including Best Selling Authors like Julie Broad, Don R Campbell, Russell Westcott, and Tom Karadza. My super star investors include folks who acquire two properties per month or have transacted on over 100 properties. I have learned a thing or two in my own investing and distilled it down to 10, you-can-not-ignore, tips if you want to be a successful investor.

To download the report go to www.truthaboutrealestateinvesting.ca/book

Sponsored by:

TitanInvestmentRealEstate.com – 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 admin@mrhamilton.ca. 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.
Erwin
Hamilton, St. Catharines, Toronto, Land Development, soon to be builder and Real Estate Investor

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