How a Single Dad Refinanced His Home for Multiple Down Payments
Hello investors! I hope you’re enjoying the summer weather!! Sadly the summers are so short, all I can think about is how little summer this is left.
To enjoy the summer sun and as usual, combining things I enjoy: excitement, entrepreneurship, real estate, great company, I’ve been organizing get togethers with like minded, successful people. We had more events before kids and had gotten away with it but in my endeavor for self development and better networking opportunities, I restarted my “Hambundance” group. Hambundance is a word mash between Hamilton and abundance. It’s silly I know but it makes me laugh.
This week we rented power boats from the Harbour Front Center in Toronto, raced around the harbor, and trolled through Toronto Island for three hours. It was a blast, I posted more picture and video on my facebook.com/erwinszeto. After, we had lunch at the Amersterdam Brew House on the patio for more networking where I selfishly picked certified professional coach Ryan Hindmarsh’s brain on leadership. As 2pm approached, the rule of Toronto is to get the heck out of town or forever be trapped in its traffic jam. My car pool group combined owns over 30 properties so you bet the conversation was productive and the car radio stayed off.
This week I’m excited to bring to you Nick Ditomaso, he’s been investing for less than three years after 20 something years of sitting on the sidelines. Even as a single dad, he’s been super successful with just a few well selected investment properties and with the proceeds of just one property, Nick is paying off his mom’s car loan, paying for his son’s wedding, donating to charity, and still has sufficient capital for a down payment or two for more investment properties. Nick’s claim to fame is his ability to refinance his own home for multiple down payments, he almost did it THREE times within 12 months and successfully achieved above market appraisals each time. Listen in on his tips on how he did it, plus, his advice on books to read and clubs to join.
To Listen:
Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.
On Stitcher: http://www.stitcher.
Recommendations by Nick:
Real Estate Investing in Canada: Creating Wealth with the ACRE System by Don R Campbell
Secrets of the Canadian Real Estate Cycle: An Investor’s Guide
The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords
Rock Star Real Estate Membership
https://rockstarinnercircle.com/erwin
Real Estate Investment Network (REIN, pronounced rain)
https://rein.rstrm.com/3MU4oTq-4Mhaoh
Annual ACRE (Accredited Canadian Real Estate) Systems.
http://info.reincanada.com/edmonton-acre-2017
I usually have a discount code closer to the Toronto event each year.
“Erwin’s Group” Halton Real Estate Investors Group
Tenant Location Services in Hamilton, Crystal Ross
http://investorspropertymanagement.ca/
So Reit Club
https://www.facebook.com/SoReitClub/
Tony Robbins, Brian Tracy, Robin Sharma
Nick On Twitter
@propertysmarts
Google Play: http://goo.gl/CAM5Mn
On iTunes: https://itunes.apple.
On Stitcher: http://www.stitcher.
Download as an MP3 by right clicking here and choosing “save as”
If you would like to start out on your investing journey, be supported by a team of investor specialists and be successful like Nick, do join us at a future Haltonrei.ca event. Go to HaltonREI.ca to register or if you’d like to get started immediately in building your wealth, fill out the contact form at HaltonREI.ca/contact. Event space is limited as we always have waitlists so avoid disappointment by registering as soon as possible and I look forward to seeing you there. Thank you for listening, this is Erwin Szeto of the Truth About Real Estate Investing show and I’ll talk to you soon.
I am super proud of my little cousin Christopher, here I am wearing his Timmy’s visor. He’s not really little anymore as he just turned 17 but he did get a summer job at Tim Hortons. He’s still in training but the plan is he’ll keep working when he’s back to school to save up money for a car. Christopher is crazy passionate about all vehicles: tanks, planes, trains, cars, bikes. I seriously ask for his advice when buying cars but I have to temper his preferences as he seems to think I operate without a budget. I don’t need a BMW M3 or M5, I don’t care about the extra 2-300 horsepower, I care about my monthly payments and how much of my lease is tax deductible
large portfolio of buy, rent and hold investment properties with her husband. She co-founded a property management company based in Kirkland Lake, Ontario. Elizabeth also runs a boutique Rent to Own company, which specializes in providing home ownership options for families.
We’ve had guests in the past from the other side of the country. Don Campbell, who resides in British Columbia, Pierre Paul Turgeon, who’s from Alberta. This week our guest, Andy Tran, is on the other side of the world in Japan, visiting his wife’s family. I’ve been friends with Andy since 2009, when we met at a mutual friend’s birthday and ran into each other again at REIN. Andy was one of my first clients, as I helped him purchase investment properties in Hamilton back in 2010, but now the tables have turned as I have hired Andy to prepare my investment property for a legal basement suite conversion. As always, I believe in hiring the best to work on my business and it just so happens that Andy is a leading expert in accessory apartments in the golden horseshoe of Ontario. Andy is guiding me and my property through the city’s permit process including building code, certified drawings, working with the city’s planners and inspectors etc… stuff that I neither enjoy nor have time for.