Happy New Year, my fellow truth seekers!!
Welcome to the Truth About Real Estate Investing, where we continuously look to learn the best practices from doers, not talkers, to extract from them repeatable investment strategies, and break them down into actionable items for both novice and seasoned investors alike.
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A word on seasoned investors…
I was talking to a client about the coach she was assigned from one of those large real estate education companies, and she told me her coach was very experienced.
I asked her to tell me more, as experienced means different things to different people.
For example, if I were to hire a coach, I would want someone highly successful with more skill and experience than me.
The funny thing is, the person I would hire costs very similar to these new coaches who hit the scene in the last 3-5 years, some of them with less than five years or worse dubious track records of investment themselves.
The market during this downturn and higher interest rates have let me know who the real investors and coaches are, and no, I’m not going to out them as I don’t want to be sued.
I’m hearing on the streets about struggling investors and coaches, mainly folks with multiple flips and BRRRs who can’t exit or make cash flow.
Times like these are the ultimate stress test.
Doing one’s own due diligence with the internet and social media has never been easier than ever, and the fun fact of the day, many podcasters don’t background check their guests.
I can tell.
Quick update on the Clydesdale Capital bankruptcy…
The owners Fayaz aka Mark Smith and Alex Solga, have turned down an invite to this show.
Alex was advised by his lawyers not to come on, so I don’t blame him at all. Nevertheless, Alex and I chatted, and he confirmed my understanding.
If you’ve been following me and my iWIN Meetings, I have mentioned before how these times are part of the market cycle causing to greed and new entrants to the market, lack of experience, skill and capital leads to poor execution…
One has to wonder if tens of thousands are spent on coaching each year to arrive at bankruptcy at the business and personal levels.
So many have gotten burnt with excessive leverage, poor business models, and a lack of cash flow management when the market was greedy.
I’m not guilt-free either; the duplexes I bought in 2021 are cheaper today, but thankfully they’re fully tenanted at high rents, so Cherry and I will manage just fine. We’re in this for the long term.
But don’t look at my crypto and growth stocks, lol.
Thankfully, by design, those positions were a small percentage of our overall portfolio since real estate is so safe, and when done right, one can outperform the market.
That said, I’ll be taking advantage of both real estate and stock markets.
If you haven’t been around a correction before, I strongly recommend you study what happens in recessions and how many get rich exiting the crashes.
All my friends with grey hair who’ve been actively investing since before 2008 all regret not buying more then.
Now is the time we right that regret!
As usual, we will cover how-tos in real estate investing via virtual webinars, in-person monthly iWIN Networking Meetings, and practical Street Smart Tours, where we tour target neighbourhoods and income properties, followed by MasterMind lunch.
The next 18-24 months will be a wonderful time to be greedy while the masses are fearful with above-market returns available to those who invest smart with minimal risk.
That’s how we’ve been investing around here since 2010, and our track record of over $400 million in investor transactions and very wealthy clients speaks for itself.
If you’re looking to make 2023 your best year and make the best decisions for your financial peace, then you’ll want a copy of my book; the electronic version is free from my website, www.truthaboutrealestateinvesitng.ca.
Enter your name and email, and you’ll also be notified when we offer our educational events at nominal costs.
In my experience, we have numerous millionaire and multimillionaire clients who have never paid for a five-figure coach or networking group.
Just recently, at a clients-only event, I had several clients say the best part of being a member of a certain group I used to belong to was meeting me.
I’m humbled and honoured and can’t wait to make a difference in more people’s lives.
Conversions, Student Rentals, Garden Suite Update With Ken Bekendam
On to this week’s show!
We have Ken Bekendam, who is up to many things to generate cash flow and build wealth in real estate.
The best part is Ken is available for hire! One can hire Ken’s company https://legalsecondsuites.com for major renos to your home or investment property, including basement apartments and garden suites.
Ken and Legal Second Suites have even been in the news representing one of his clients.
A mutual friend of ours, Alex, who happens to be Ukrainian and wants to convert his garage into a garden suite to rent to Ukrainian immigrants, but the rich neighbours think the added density of tenants living in a garage will damage the neighbourhood and increase traffic.
Thankfully, with municipalities trending in the right direction to allow us private investors to create more housing…
I won’t spoil it and let Ken explain how the story ends. Rich homeowners vs. rental housing for Ukrainian immigrants….
In today’s show, Ken details what strategy makes up the majority of his portfolio and provides him with massive cash flows.
It’s not what you expect, as none of the influencers out there are promoting or offering courses on this strategy.
Ken shares how to invest in garden suites, including build costs and rents, plus some big and small conversion projects.
This is a great episode for education purposes, so have those pens and pencils ready.
I give you my friend Ken Bekendam
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.
This episode is also brought to you by www.stockhackeracademy.ca, where everyday real estate investors learn the best practices in stock investing to earn cash flow in about 15-30 mins per day from their mobile phones. After real estate, Stock Hacking is the next best hustle, as you’ve heard from many past guests on this show. Among our students last year, 31 trades were shared with them. 30 were profitable for an over 96% success rate and 12% return on capital. I will be giving free demonstrations online, very similar to the one I gave my kid cousin, a full-time musician who just made a 50% return in 2021. Past, of course, does not predict the future, but if you’d like a free demonstration, go to www.stockhackeracademy.ca in the top right and click FREE Demo. At the demonstration, I’ll have special bonuses. We do not advertise publicly for all my favourite listeners, and I only have two more demos to give in the next few weeks.
Don’t delay www.stockhackeracademy.ca, what I consider the future of side hustles with real estate so unaffordable for many.
To Follow Ken:
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.