My apologies in advance for how many times I say the word “fascinating” in chatting with Ryan Poole who’s company, Real Trade, is coming out with a real estate listings service like MLS on a Blockchain platform.
But before I go there, for those following my story, I made it back in one piece from a bachelor party in Cancun, Mexico. I signed a non disclosure agreement, so not much to share, but I will share how I was getting home sick by the 4-5th day. I’ve been seeing all this talk on the social media about not buying one’s home, which only makes sense in select cases. In Canada, the homeowner capital gains tax exemption is one of the biggest tax breaks we as Canadians will ever get, so that has to play into your consideration.
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Another simple one is, how much would it matter to you to have to move at the landlord’s whim? Like any other investor, I don’t like risk and I don’t like the risk of having a landlord or their family member wanting to move back and displacing me and my family from our home.
All you parents out there know how we will do anything for our kids, and I am extremely worried for young people with the state of our housing market. Too much demand from immigration, not enough supply with all the rising costs to build, combined with anti densification sentiment among municipal governments.
Is it out of the question for the cost of a house to double between now and 18 years from now? My real estate investing is not just for investment, but as a hedge in case housing prices get out of control, and I definitely think there is a chance of that happening.
We have hundreds of investor clients whose homes in the GTA worked out as great investments, and then they turned their home equity into 1-5 investment properties and from there, those original investments grew in equity for downpayments for even more investment properties. It’s tough to argue with that track record. Plus, if you own your home, you get to put down roots and enjoy it at the same time.
One still needs to wear their investor hat when choosing a home. I’ve told many not to buy where they want to live. Eg. condos without great transit in Toronto. Instead rent and buy a house just outside the GTA. I have a family member who did just that. They rent on the east side of Toronto where the landlord deals with negative cash flow while my family member owns two investment properties just outside the city that do cash flow. It’s tough to argue with that logic too.
So remember, buy smart, even for your own home. Consider, would you have any problem renting out your home to pay the bills or part of your home on AirBnb? Vacancy rates are at historic lows where we invest and rents are up 10% over last year.
Finally, my wife and I plan on leaving our current home to our kids, should they want to live there, and start a family with no mortgage payments. If I were a tenant, I guess I could sublet to my kids so they could take advantage of rent control, but it’s not quite the same. Plus my house could easily have a basement apartment, which was a major consideration when we bought it. In my opinion, your home is an investment if you make it one.
On a side note, I did something on social media that you’re not supposed to do. I replied to a hater’s comment. LOL.
He wrote on my facebook, “Dude my parents did not have as much money as you to give me for Real Estate investing
Sorry dude I ain’t a rich cbc.”
CBC is short for Canadian born Chinese.
My reply was “dude, my dad came to Canada at 18, youngest of six kids, barely spoke english, my parents had three mortgages on one house, my mom rented out rooms and cooked for people in our home to make ends meet. I graduated university 30k in debt. We started from the bottom now we’re here.
Your parents might not have been rich so it’s on you if you want your kids to come from a rich family.”
He goes to accuse me to teaching get rich quick schemes. We go on and exchange for a bit, then I click to add him as a friend. He accepts and is of course bewildered, asking if i’m trying to kill a hater with kindness.
We get chatting, he’s a recent grad living in a small bachelor apartment with precarious income and $45,000 of student debt. I let him know, this is why I worry for my kids, to which he completely agrees. Our first agreement, he actually writes “kids without money are F*&#ed”, hence the reasons I’m trying to get the message out there via this podcast, my email list, my social media, our iWIN membership, and of course the Nov 9th Wealth Hacker Conference.
The hater asks if I have it good now to which I reply, “not when I was your age. lived at home with $30,000 in debt. unemployed for almost 12 months. first job was 35k salary.”
Now I have his respect that I wasn’t handed anything. Then I invited him to this month’s iWIN meeting as my guest, because I think he needs help and a change of scenery. He suggests I give the ticket to someone who could actually be our real estate client as he can’t. I explain that I’m in this business to help people. Don’t care about your net worth. I only care that you leave that meeting having learnt one thing or making one contact that moves you forward.
At the Wealth Hacker Conference on Nov 9th in Toronto, considering the line up of experts we have, I would expect all attendees to have more than one takeaway and one connection made. If you’re looking to start or build a business, you need to be here. If you want to level up your real estate investing or buy your first investment, you need to be here. If you want to learn how to hack stock investing buy selling options to make six figures in 30 minutes per day, you need to be at the Wealth Hacker Conference.
Even all you haters out there. LOL.
As a listener of this show I have a discount code for you for 10% off. Code is thetruth – that’s it. One word. Do note, prices are going up immediately following labour day weekend and we are almost sold out of the coveted VIP tickets that include a meet and greet with Grant Cardone.
Speaking of Grant, here he is speaking of one of the truths about money..
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On to this week’s guest!
Just wow, my mind is blown. I was introduced to Ryan Poole, Founder of Real Trade, after I posted on Facebook in search of an expert on BlockChain and real estate. And what do you know, Ryan’s Major Goal: To combine blockchain technology with real estate to revolutionize the real estate industry for the better. He’s rolling it out in phases, including a globalized version of the MLS using Blockchain technology, and a later phase for a Blockchain based currency called The Real to buy and sell real estate, including fractional ownership of real estate. I’m probably not explaining it right, so listen closely to how Ryan explains it.
This is a very fascinating conversation, I promise you. Ryan is also a friend to Canadians, as he helps Canadians buy real estate in Florida. We even chat about the best places for a vacation home, and how to finance it as I know you big time listeners can afford vacation property either now or in the near future. 🙂
To follow Ryan:
Real Trade (start by reading the one pager): http://realtrade.io/
If you’re interested in Florida Real Estate: https://rsiasset.com/team/ryan-poole/
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.
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 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, Toronto, Land Development, soon to be builder and Real Estate Investor