Welcome to the Truth About Real Estate Investing Show. My name is Erwin Szeto. Today’s guest loves to travel and invest in properties in several countries. He’s originally from our nation’s capital but has now put down roots in Costa Rica but before we get to Francois Lanthier…
I’m still buzzing after returning from Atlanta, Georgia for meetings and checking out properties that are under management by a large property management company. How large? They manage 2,000 single family homes for their institutional clients who invest in landlord friendly states. I’ve been told by insiders that institutions are rebalancing their portfolios away from commercial office, retail, even multi-family as cap rates are being squeezed.
Institutional demand is so big, the property manager just signed a new investor client with 800 single family rentals to add to their 2,000 properties under management.
The PM already has 800 single family rental properties in and around Atlanta, Georgia so who better to show us around investment properties at different stages: We visited a bank foreclosure sale, and a couple properties currently vacant, before renovation and after renovation. I was like a kid in a candy store. I would love to own the houses we saw. Each house had a gross rent yield close to 8%. That’s annual rent divided by the cost of the house. For example one house would rent for $25,000 per year and was worth $320,000 located in the suburbs of Atlanta who’s great area is 6.2 million population
Tim, a member of the PM team showed us a few of their properties under management currently in between tenants, he shared with us how he inspects properties and coordinates renovations when tenants turnover. The timelines were pretty quick and the budgets seemed reasonable in my experience.
No basement suite conversions or garden suites needed sense houses can cash flow as is. No renovictions or cash for keys since there is no rent control and landlords have rights.
I shared my experience as a landlord in Ontario with our new American friends and they stared at me with wide eyes like I was an alien.
Needless to say I’m excited to exit some of my real estate here and add some in Atlanta, Georgia. I’m also planning site visits to Memphis and Texas as I will want properties there as well.
If you’re looking to learn more about investing away from long-term rentals, our next iWIN Meeting is Wednesday night, November 15th, 7:30pm EST. We will have the CEO of Share Andrew Kim talking about investing in Florida, Texas, Georgia etc… and the CEO of Pinnacle Wealth Brokers sharing about his massive, 400 acres in vacation/recreation properties.
Link in the show notes and in your email for our newsletter subscribers!
Global Real Estate Maverick: How Francois Lanthier Is Redefining Investment Norms from Costa Rica
On to this week’s guest Francois Lanthier has already exited his long-term rentals in Ontario a while ago and now lives in Costa Rica with his wife and teenage kids.
Francois has investments in New Brunswick, Alberta, Michigan, Florida, Dominican Republic, Dubai, with plans to find more investments in Eastern Europe and Panama. It’s like he trying to buy up all the spaces on a Monopoly board!
On this show Francois details what he thinks is an ideal investment in Costa Rica and a three day real estate investing conference that Cherry my wife is speaking at in Costa Rica. You can learn more at www.investinpuravida.com
Francois shares a bunch of his research on where he invests and why and his path to leaving his Canadian tax residency. His non-negotiables for choosing where to live. Also interesting is what his kids are doing for school since they’ve moved from Ottawa to Costa Rica.
I’m sure many will find this to be a fascinating episode.
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.
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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.