How and where Canadians may invest in Florida real estate, how short term rentals earn double that of long-term rentals, not just for ROI but ROL: return on life and more on this week’s episode of the Truth About Real Estate Investing.
My name is Erwin Szeto, 4X realtor of the year to investors, proud Canadian but you the listener, at least the half of you who responded to my survey on if you’d like to learn more about how a Canadian may invest in the USA, 91% of you wanted a webinar or workshop and 50% of you mentioned you’d like to learn more about Florida and why not since there’s no state tax, it’s the home to Mickey Mouse, and the sun is always shining there. Except when it hurricanes but don’t worry, I’ll be asking our guest expert, Ryan Poole with 20 years experience in FLA about hurricanes and insurance too.
Before we get to learning about Florida, I’d like to say thank you to everyone who’s come by to say hi when you see me in public. I ran into one of my 17 listeners at Costco and we were discussing how he’s getting his butt kicked in Sudbury and I told him the numbers are better in the sunbelt states of the USA, no snow, no frozen pipes, no rent control or LTB he booked a call with me 🙂. I’m always happy to book a call with one of our 17 listeners and 350+ past clients.
Others I ran into at the Ontario Landlord Watch Conference and thanked me for being a source of news entirely relevant to the Canadian real estate investor. I was just speaking to another investor who’s owed $175,000 in private lending to the wrong investor who’s the leader of the wrong networking group.
I told her I literally knew they were trouble for years and had one of their earlier victims, Tom Sullivan, detail his experience on my podcast back in 2019.
Due diligence so often would have saved many investors a lot of money and stress. I’m no different, I have PTSD from con artists which has simply fueled my analysis paralysis and forever search for the truth. For example, the YouTube algorithm suggested for me a video fact checking Geopolitics analyst Peter Zeihan and Bridgewater founder Ray Dalio. The Channel is called Money and Macro and I’ve binged it already and it’s been awesome.
I do luv staying informed and learning about economics, austerity, why rich countries are not having enough babies, Japan’s rocky economic history, so I may leverage the lessons from the history to make investment decisions accordingly.
Based on my research showing the USA will remain the top super power in the world combined with my experience of being a landlord in Ontario, I’ve decided to invest south of the border as the US government is investing heavily in bringing manufacturing back to the USA and I too will benefit by investing near the future locations of those thousands of six figure paying jobs so they may rent from me. Them or the tens of thousands of spin off jobs.
For example, did you know the world’s biggest contract chipmaker based in Taiwan, TSMC, is investing in a $40 billion chip manufacturing facility in Phoenix Arizona? That comes with 4,500 manufacturing jobs and you want to know why governments of all levels want to attract manufacturing jobs? Because each of those jobs creates 4-5 spinoff jobs so conservatively that’s another 16,000 jobs.
While back in Canada, Toyota was looking for funds to build EV batteries or cars in Cambridge, ON but unfortunately Cambridge average real estate is $800k per home, our governments are out of funds, hence Toyota will be looking to Michigan, North Carolina or Texas.
Follow the money, where there are thousands upon thousands of high paying manufacturing jobs as humans will move to where they make more money, for lifestyle and affordable housing costs. I can buy a suburban 3 bedroom, 2 full bath, 2 car garage in most top towns for the same as a house in Edmonton, AB or the same in Phoenix, AZ for the same price as a house in Calgary. But when you research the job and income growth from the thousands of manufacturing jobs coming, I’m earning US dollars vs Canadian dollars. Plus it’s buyers markets right now for most of the top towns in the sunbelt states with way larger populations, more diversified economies, the investment decision is pretty easy.
FYI: The entire province of Alberta is 4.4 million vs the greater Dallas area is 7.6 million.
From my research, the top, landlord friendly sunbelt cities in the States combined with commercial style mortgage financing which is way easier to get than what we’re used to in Canada on small residential properties. It makes too much sense to not at least get educated on US investing before buying your next investment property.
We here at theTruth About Real Estate will be offering deeper dives at our month iWIN Meetings. You’ll notice we are trending away from long-term rentals in Ontario as our topic at the upcoming November iWIN meeting is about vacation rentals by Darvin Zurfluh or Pinnacle Wealth Brokers, and my friend Andrew from Share Single Family Rentals will be sharing how he invests in Florida, Texas, Atlanta and upstate New York! Andrew owns 20 income properties he’s never seen before. How does he do it?
We have Victoria Cluney coming up on this show sharing how she grosses six figures per month on her short term rental motel in Nova Scotia, Canada.
Owning real estate is still a must for anyone who wants to defend and grow their wealth but ideally, avoid investments with rent control and dysfunctional landlord, tenant boards where not receiving rent for months to a well over a year are a risk.
How and Where Canadians May Invest in Florida with Ryan Poole
On to this week’s show!
Our guest is basically a Canadian as he grew up in Minnesota near the border. Ryan grew up further north that the vast majority of Ontarians so he knows snow, hockey, black flies and cold winters.
Then he smartened up and moved to Florida and participated in some roller coaster markets including the financial crisis and housing market crash of 2007-2009. Ryan will share his experience on how they made a killing back then.
Ryan is well beyond just being a Realtor, he’s the founder and CEO of RealTrade Inc. which is like the Facebook Marketplace for real estate professionals and real estate listings, a smart diversification play for Realtors to keep control of their listings vs the Zillows and Redfin.
On the Florida real estate side, Ryan recounts how he made money buying bad mortgages from the banks in 2009, the current market inventory and demand, short term or hybrid rentals which is a split between mid-term and short term rental, hurricane insurance and changes to construction, the landlord, tenant laws and tax benefits, what to do for fun the south Florida.
50% of survey respondents wanted to hear more about Florida so here you go! I give you Ryan Poole, 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.
To follow Ryan:
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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.