Ex Financial Planner Now Multifamily Investing East of Toronto, Off Market Deals, Cap Rates and JV Structures with Sarah Coupland

Hello Wealth Hackers and welcome to another episode of the truth about real estate investing.

Happy birthday to my partner in business and life Cherry Chan!! She’s a Super Woman in how she raises our kids, keeps me and my businesses in order and has her own thriving practice.

Quick funny story about Cherry: While she was still working in the corporate world, we were dating then, and she would surf the MLS at work when bored (which was often) looking for investment properties, but she only owned her own home. After getting to know my business, we discussed investing in a student rental near Brock University in St. Catharines. My credit wasn’t great at the time as I was a new agent, so the house would be in Cherry’s name.

I called Cherry while she was at work after I found a house in my target location, next to the only major mall in St. Catharines that doubles as a major public transit hub. I gave some vague details about the property to Cherry over the phone and we wrote the offer. We paid the owner exactly her asking as she was already discussing listing the house with a Realtor. The location and condition was A++ and any investor would want the same house because the annual rent would be over 1% of the after-renovation value.

Cherry didn’t see the house until after we took possession and was happy with our purchase. A year later we were reminiscing about how Cherry joint ventured on a property without even seeing it, with her boyfriend she only knew less than a year, but she wasn’t concerned at all. Her contingency was that if things didn’t work out between us… she technically owned the house 🤣.

That was seven years ago. There were bumps. That basement flooded, a student snowboarded off the roof (he was on ODSP nonetheless), but otherwise it’s been an excellent investment having doubled in value and the rents have gone up and there’s been zero vacancy the whole time.

Happy birthday again to my wealth hacker wife, to infinity and beyond. Together. 😘🥰😍

On the subject of real estate…

A kind gentleman who left a 5 star review on itunes asked me this: “My commute is 2 hours and I am taking courses to become a licensed real estate professional, what audio books would you recommend?”

My two cents: “If you’re not first, you’re last” by Grant Cardone. The very same book, forms the teachings presented in part of Cardone University that he sells for a lot of money, hence there is a lot of value in the book.  I generally find we can all improve our sales skills. Sales is not what most think. The vast majority of sales people don’t take the profession as seriously as folks like yourselves do.  

No different than how the amateur invests in real estate vs. how a professional does. If you’ve ever been a secret shopper as a tenant viewing properties for rent or for sale vs. toured our clients’ properties, you would see a big difference. Professionals invest more in their properties to attract the best tenants who pay the best rents knowing tenants all want clean and safe.  Investing more includes time and effort in marketing and screening tenants. If you read about tenant nightmare stories in the news, you’ll note the landlords never ran credit checks or a Naborly report on the prospective tenant.

You all know the hoops we must jump through to get a mortgage. It would be advisable to screen tenants similarly, as a bad tenant is a very expensive mistake when you are trusting them with a half a million dollar asset.

If you’re looking to get started in becoming a wealth hacker, someone on the most efficient path to building wealth, let us know.  We offer property tours in each of the top towns around the GTA which upcoming tours in Collingwood.

We have the Wealth Hacker conference on Nov 9th, a master class on the most efficient paths to success in small business, real estate and stock options.  Go to www.wealthhacker.ca for details, discount code: iamawealthhacker 

For those who are very serious about their success, we have my membership group called iWIN, short for the Infinity Wealth Investment Network.  We are a close knit group that meets monthly to share best practices on investing in real estate, staying up on the latest strategies. We meet up quarterly for a mastermind, iWIN style. We do something fun together then we mastermind over a meal. So far this summer we did a Niagara Wine Tour on bike and a separate event on powerboats on a lake up north.  Both were followed by lunch and everyone had an amazing time networking with like minded people and coming away with actionable advice. For details, go to www.infinitywealth.ca 

Ex Financial Planner Now Multifamily Investing East of Toronto, Off Market Deals, Cap Rates and JV Structures with Sarah Coupland

On to this week’s guest, my friend, who is a member of my mastermind group, Sarah Coupland of Tag Properties (www.tagproperties.ca

Sarah is a successful, multifamily real estate investor and one of the nicest people you will ever meet. In this interview, she took our virtual meeting from her cottage, afforded to her by her real estate businesses.

Sarah invests mostly where she lives, in Cobourg, Ontario where she owns several small multifamily properties. Sarah shares how she got started and how her boyfriend, now husband, had to help her renovate her house if he wanted to see her (yay free labour!). She shares how she sources properties off market, often buying the properties no one else wants. For the best value-add strategies, some crazy stories of police raiding one of her rental properties, her cap rates and how she structures the financials for joint venture partners – have a listen!

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To follow Sarah:

Website: www.tagproperties.ca
Instagram: https://www.instagram.com/couplandsarah
Sarah in CREW Magazine: https://www.canadianrealestatemagazine.ca/features/something-from-nothing-232912.aspx

Do you have questions on wealth hacking? The shortest path to financial success or questions on investing in: houses, basement suites, coach houses, syndicated mortgages, private equities, public equities, sandwich leases, lease to own, student rentals, AirBnb, wholesaling, off market deals, house construction.  I’ll admit when I don’t know and will dial a friend for an answer.  

If you have a question, we don’t have any fancy means to receive questions so if you enjoy the show and want to leave a five star review on iTunes, your question will definitely make its way to me and I’ll answer your question on a future episode of this podcast.

I’m also grateful for all your positive comments and fans of this show. It is my view that life would be a bit better for everyone if we all could make and save a bit more money at the end of the month and if you make a lot more then your family and community would benefit even more and nothing would make me happier.  Till next time, my name is Erwin and I am a wealth hacker bringing you the truth about real estate investing for Canadians.

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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