Have you stepped out of your comfort zone lately?
I’ve discovered that those who fearlessly challenge the status quo are the ones I consider to be truly successful real estate investors. This is what sets my successful clients apart from the masses.
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Based on my experience, real estate investors are often middle-class homeowners with kids and great-paying jobs/businesses.
Yet they still want more out of life, and/or their parents did, as the truth about real estate is many, many investors get help from their parents.
From significant financial gifts in the hundreds of thousands and/or guaranteeing or co-signing for mortgages.
This is the truth about real estate investing, and you’ve probably already heard of stories from people you know who received inheritances from parents or grandparents who were mortgage-free homeowners.
It’s no coincidence that real estate is commonly the cause of intergenerational wealth. Will that change anytime soon in Canada?
If immigration keeps on track creating excessive demand and worsening the supply of new housing being built, I’m still recommending quality, small multifamily properties to clients, especially if they can’t hang on to those negative $1,000+ per month “income” properties.
Speaking of getting out of their comfort zone, we have several new clients who are pivoting away from condos by selling them with our help, even in downtown Toronto, getting rid of the negative cash flow to rebalance their portfolio into a property that actually puts income into their pocket.
The idea of subsiding a tenant’s rent over $1,000 per month… I have better things to do with that money.
An example of why I’ve never been a fan of condos is because the options are so limited, condo fees rise faster than inflation, condo boards limit one’s control of the property…
On the other hand, my clients here at iWIN real estate own freehold houses on land. Those with a big enough lot can add a garden suite at better cap rates than any apartment building, and as a new build, the garden suite is not subject to rent control.
If you, too, would like to invest like one of our 45+ income property millionaire or multimillionaire real estate investors or need a real estate portfolio review, I highly recommend it, especially if you’re negative cash flow.
Know that interest rates are going up again in July as June’s job reports came in 3X higher than expected. The economy is stronger than expected, so more high-interest rate pain is coming.
If you’re not ready for action and would just like to learn, we have an upcoming iWIN Meeting, all online via Zoom, where I’ll be sharing the latest market update AND the artificial intelligence, AI for short, tools we’re using today in our business.
AI will cause massive disruption for the good of those who know how to use the tools to be more productive.
As always, I’m on a mission of truth-seeking to discover what works and doesn’t work in my own business and portfolio or real estate properties.
The iWIN Meeting is Tuesday, July 25th at 7:30 pm EST; my team will be breaking down the highest and best-use real estate investments our clients are executing right now that work in this elevated interest rate environment while the market is cool for the short-term.
For those who enjoy an in-person experience, we are hosting an iWIN MasterMind Tour the following Sunday, July 30th, in Kitchener/Waterloo, where we meet for coffee, tour two income properties, and mastermind over lunch.
There’s nothing better than learning hands-on, in person and hanging out with like-minded people, in my experience.
Ensure you’re on my email newsletter to stay connected to all these best-in-class educational events.
One can register on my website at https://www.truthaboutrealestateinvesting.ca/. On the right side, give your name and email, and you’ll know about all our latest and greatest events.
If you have friends and family who care about improving their financial futures, invite them along too 😊.
Speaking of being out of one’s comfort zone. I’ve been displaying my terrible golf game, which I’m self-conscious of to other golfers. While I love the game and the networking, it’s painful to consistently slide my golf ball into the woods and regularly 3 putt, sometimes 4.
On the positive, the people I’m meeting or getting to know have been awesome.
My new friend Susan is in the business of helping immigrants come to Canada. I asked, “How’s business?” Her answer, “It’s been busy.”
You know me, I have follow-up questions: “Busier than pre-pandemic?” Her answer is yes. I’m surprised and have more questions: “Don’t they know how expensive it is to live here?” She responds with a smile, “Yes, that’s why they’re moving to Hamilton.”
This type of macro and microeconomics information is gold for my clients and me.
We, as real estate investors, have two businesses: 1. We rent to tenants, and 2. We sometimes sell.
Hence I want to own what is in high demand from both tenants and buyers, and it continues to look like our clients, and I are investing in the right asset class and area as the immigrants are still coming.
Private Lending Update, Losses From A Downmarket With Calvert Mortgages
On to this week’s show!
This week we have our friends from Calvert Home Mortgage Investment Corporation back to give an update on the private lending/mortgage market, including lessons from the downturn: e.g. what did in-default real estate investors do wrong? What do they have in common? So you, the listener, my clients and I may avoid the same mistakes.
Please keep in mind real estate investing can easily be done wrong and less right. Ask anyone who speculated on pre-construction and is negative cash flowing or does not have the means to close.
Long-term that could be a fine investment, but most can’t handle today’s interest rates and strict lending guidelines.
Anyways, on today’s show, we have Garrett LaBarre, Underwriter at Calvert. He’s the guy who actually reviews mortgage applications from a risk perspective and determines if they’ll lend, and Jesse Bobrowski, who is Vice President of Calvert.
One of the magical things about real estate investing is the asset is so good that banks will lend me a lot of money which suits my objective of keeping the deal and equity to myself.
This is why learning about all your financing options is key to being a successful investor, BUT debt is a double-edged sword as your risk is greater, as you’re about to hear about in this interview. Such is the truth about real estate investing.
Since Jesse and Garrett live and invest in Calgary, they share a market and economic update on Alberta, which I know is a hot topic for investors.
You can check out Calvert at https://chmic.ca/.
As we do discuss securitized investments, here comes the disclaimer. Please enjoy the show!
The information and opinions expressed in this podcast are solely for educational and informational purposes and should not be considered investment advice. The hosts and guests of this podcast are not licensed financial advisors, brokers, or registered investment advisors, and their comments should not be construed as recommendations or endorsements of any specific investment, security, or strategy.
Investing involves risks, including the possible loss of principal. Before making any investment decision, you should conduct your own research and consult with a licensed financial advisor to determine the suitability of any investment for your specific financial situation and investment goals.
The hosts and guests of this podcast make no representations or warranties as to the accuracy, completeness, or timeliness of any information discussed in this podcast. The podcast is not responsible for any errors or omissions or for the results obtained from the use of this information.
Listeners are advised to use their own judgement and seek the advice of professionals before acting on any information provided in this podcast. The podcast shall not be liable for any damages, including but not limited to direct, indirect, special, or consequential damages arising out of or related to the use, inability to use, or reliance on any information provided in this podcast.
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.
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.