The podcast this week discusses the reasons why people are looking to pivot to midterm rentals, citing reasons such as the control over the guest population that midterm rentals offer. It also discusses how the economy affects the short-term rental market, and how this can be an advantage for midterm rentals.
It is becoming harder to run short-term rentals, as municipalities are banning them or putting restrictions on them. Mid-term rentals are a good option for those looking to still make money in the rental market, as they are less likely to face rules and regulations. Location is important when considering a mid-term rental, as it should be in an area that is attractive to potential guests.
Guests Sarah Larbi and Aisha Govani explain that it is important to target guests and make connections with them in order to increase occupancy levels at a property. They also advise that property owners ensure that the finishes and renovations at their property are of high quality in order to attract and retain guests.
Sarah Larbi and Aisha Govani are the co-founders of Mid Term Rental Properties Inc. an executive and corporate property rental company. They offer a variety of services, including housekeeping, lawn care, and chef services. They are currently working on expanding their services to include preferred vendor discounts and meal delivery.
This episode has been brought to you in part by The REITE Club podcast – for sponsor slots contact Katherine at grow@thereiteclub.com BM Select – https://bmselect.ca/
Andrea Hodson is an incredible woman who has accomplished a lot in her life. She is humble and down to earth, and she credits her success to her ability to network and build relationships with people. Andrea’s most significant piece of advice for networking is to focus on quality over quantity – it’s more important to develop good relationships with a few people than to try to talk to everyone in the room.
Andrea started investing in real estate when she was 25 years old and living at her parents’ house. She bought a few properties that were student rentals and then took a few years off to renovate them.
In 2009-2010, Andrea started investing in real estate and continued until 2017 when she picked up her first commercial property. In 2019, she had her daughter and decided to continue the real estate journey. She started looking for properties outside of her area and comfort zone in 2020-2021 and picked up 59 units in New Brunswick. She is now trying to grow her business by partnering with others.
The conversation also covers time management tips and tricks. Andrea recommends time blocking and habit stacking as two effective methods for staying on top of tasks and goals. She stresses the importance of having a growth mindset and getting out of your comfort zone in order to learn about something new.
This week’s podcast guest is Sandro Ferreira, a Brazilian Canadian entrepreneur, real estate investor, certified coach, and professional public speaker. Sandro talks about his journey from working a nine-to-five job to becoming a full-time real estate investor and shares some tips on how to be successful in the industry.
Sandro immigrated to Canada in 2010 with the intention of buying a property. He found a condo that he liked but didn’t have the money for the down payment. He decided to use the money he had set aside for taxes to make the down payment, and ended up financing the purchase through the Canadian Revenue Agency (CRA)!
He then bought a second condo in the same building for investment purposes. In 2017, he started renting rooms in the investment condo to students, and the business was doing well until the pandemic hit in 2020. At that point, he realized he needed to get more education in order to continue growing his business. In 2019 he met a mentor, and by 2021 he had graduated from the program and owned 114 properties.
Sandro discusses the importance of having a positive mindset when pursuing goals. Sandro talks about how he was turned down many times when trying to get into the real estate investing business, but he never gave up. He says that he always pushes himself to prove people wrong and that he has never wanted to be the smartest person in the room. He feels that it is important to choose one thing and stick with it in order to be successful.
Sandro talks about his passion for real estate and how it has helped him to transform lives. He also discusses how he uses coaching to help him cope with bad days. When asked about a major lesson learned in his journey, he talks about the importance of following your dreams.
The major lesson is that we should never doubt our own abilities. If we believe that we can do something, we are more likely to be successful. This is especially important when starting out in business, as we may be limited by our own beliefs. To be successful, we should surround ourselves with people who have already achieved what we want to achieve, so that they can provide guidance and support. Finally, we should invest in our education so that we can change our lives and the lives of those around us.
Our podcast guest this week is Monica Jazyk, a mother of four who chose to stay home with her children instead of pursuing a career in education. After the 2008 financial crisis, Monica realized that she and her husband needed to do something different in order to achieve their savings goals.
In this episode, Monica discusses her journey to financial success and how she has helped her family achieve their goals.
She talks about how they changed their approach to finances after realizing that the traditional methods weren’t working for them. They decided to invest in real estate, which they felt was more achievable than they had initially thought. They also felt that this would give them a better chance to improve their financial literacy and knowledge.
They started investing in real estate by purchasing a ski condo in Blue Mountain. They had no previous experience or education in real estate investing, but they were familiar with the area and felt it was a safe investment. They did eventually add value to the property through renovations, but they didn’t know about important factors like condo fees and shoulder season vacancy rates. As a result, the condo ended up being a financial burden rather than a source of income.
Later they made the decision to purchase a property in Timmins, Ontario, based on the high rents and low prices. However, they eventually sold the property after the mines in the area closed down, leading to a loss of jobs and decreased demand for housing.
As a real estate investor, Monica is currently focused on investing in high-growth areas with strong economic fundamentals. She prefers to work with joint venture partners in order to take advantage of development opportunities and generate returns for her partners.
Monica feels that in the next few years, there will be some exciting opportunities for investors, as interest rates are expected to go down again. Those who are strategic about their investments and understand the market cycles will be in a good position to take advantage of these opportunities.
As the founder of the RPI Education group, Monica’s hope is to spread the word about wealth secrets and improve financial literacy among its members. One of the ways they are doing this is through the Wealth Immersion program, which offers resources like videos, worksheets, and group coaching.
Tracey Fines is a real estate investor who has been flipping houses for 27 years. She is passionate about helping others achieve their real estate investing goals. In her recent presentation at a real estate investing event in Ottawa, she impressed Daniel St Jean and Victoria Cluney so much that they invited her to be a guest on the podcast. During the podcast, Tracy shares her story and some tips on how to be successful in real estate investing.
Tracey Fines spoke about her journey from being a nine-to-five employee to an entrepreneur, and how emotional the transition can be. She also talked about how she made the leap and what propelled her to continue doing what she loves.
She started off “accidentally” in the property business 15 years ago. She was able to buy her first property and then took advantage of the opportunity to buy a luxury flip property. She talks about how she found these properties and how the financial situation in North America allows people to own their own property.
Beginning her career as a corporate interior designer in 1990, six years later, she transitioned out of the nine-to-five job and into flipping homes. She did this for a number of years until she was finally able to leave her day job and pursue design full-time.
When taking a break from her career to have a baby, she then decided to continue flipping properties full-time.
She is always looking to challenge herself and grow, which has led to the success she has had with more complex flips. She has done up to three multimillion-dollar flips at a time in the past but prefers to focus on one big project at a time now. Her biggest project to date is a 10 million-dollar house in Yorkville.
Tracey Fines talks about how people can get stronger and grow from challenges, and how viewing challenges as opportunities for growth can lead to more success. She also talks about her own journey with personal development and therapy, and how she has used her challenges as opportunities to learn and grow.
She attributes her success to her ability to think creatively and see potential where others might not, as well as her willingness to take risks.
Daniel St Jean and Sarah Larbi interview Ryan Carson from Carson Law. They discuss common mistakes people make in real estate investing, and how to prevent them.
Ryan discusses the importance of estate planning for real estate investors. They say that it is often neglected or put on the back burner, but it is actually very important. Right now is a great time to do this kind of planning, because there are fewer deals being done.
They also talk about opportunities in the market today.
There has been a decrease in business volume due to the sharp increase in interest rates. However, prices have also come down correspondingly, so people can still have a good cash flow.
They discuss how the current market conditions present an opportunity for investors. They note that prices are lower and there is less competition from other buyers, making it a good time to invest.
1. Even though interest rates have gone up, there are still many benefits to buying a property now, including lower prices and,
2. Ryan recommends that buyers include conditions in their contracts, such as inspections and finance approvals, in order to protect themselves.
This episode discusses the importance of having a proper inspection done on a property before finalizing the purchase, as well as how the inspection can be used to negotiate a lower price.
The question is whether it is better to buy a property with existing tenants in order to have the immediate cash flow or to buy a property intending to renovate it and then re-rent it at a higher rate. If the latter, the buyer needs to make sure that the seller agrees to terminate all existing leases prior to closing.
It is better to have a vacant property when selling, as it is more marketable. If there are tenants in the property, they may try to stay even after being given notice, which can be a problem for the new buyer.
The best way to deal with tenants in order to sell a property Ryan suggests giving the tenants a cash-for-keys agreement or terminating the tenancy so that the property can be listed empty. There is a risk that the tenants could come back if they are not given proper notice, but the speaker suggests that this is a risk worth taking in order to get the best possible price for the property.
Ryan discusses the importance of ensuring that all paperwork is in order when terminating a tenant’s lease in Ontario. They mention that the process can be tricky, and it is important to make sure that all notices are served correctly. Finally, Ryan Carson advises that anyone expecting to get vacant possession should leave themselves a buffer in case the tenants have not yet started packing.
They also cover Joint Venture agreements. The number one tip for setting up a successful joint venture is to document the potential problems that could arise and how to exit the venture if those problems occur. Other important factors to consider include each partner’s expected rate of return and what will happen if the project is unsuccessful.
It is important to have well-documented and signed agreements in place from the beginning of a joint venture in order to avoid arguments and legal issues down the road. Additionally, all parties should have independent legal advice to ensure that the agreement is binding and enforceable. It is also important to have a plan in place for how to deal with additional capital needs that may arise during the course of the venture.
The biggest mistake investors make when hiring a lawyer is waiting until the last minute to do so. This can often lead to missing out on potential opportunities to save money and protect themselves from legal issues down the road.
It is important to involve a lawyer early on in the process of negotiating and closing a deal, as they can provide valuable input and help prevent any last-minute issues. It is recommended to pick a lawyer who specializes in real estate, rather than using a family lawyer or someone who has handled a previous divorce, for example.
Always work with an experienced real estate lawyer who is familiar with investing. This will ensure that they are knowledgeable of the law and can relate to the investor’s situation.
Carson Law would like to invite listeners to follow them on social media or their website to learn more about their services in law. They specialize in working with investors and offer advice for those just getting started or in growth mode. Contact https://www.carsonlaw.ca/
In this podcast episode, Daniel St Jean and Victoria Cluney talk with Jacqueline Marshall, a real estate investor. Jacqueline covers her background and shares how she got started in real estate investing, despite not knowing anything about it at the time. She talks about how she is the poster child for someone who can be successful in real estate investing without having everything figured out beforehand.
Jacqueline got into investing in real estate accidentally, but after a few years, she decided to make it intentional. She realized that the passive income from her rentals was replacing her income from dental hygiene, so she decided to focus on real estate investing full-time.
She shares her experience flipping houses, and how she got into the business with no prior knowledge or experience and used YouTube to teach herself DIY skills. She emphasizes the importance of finding an investor-friendly real estate agent and shares her strategy for flipping houses in the current market landscape.
Jacqueline has been investing in real estate for over 7 years and teaching others how to do the same for 2 years. She believes that anyone can be successful in real estate investing, regardless of experience or resources, as long as they have grit and determination. This was instilled in Jacqueline Marshall from a young age by her mother. Even after facing challenges, she has persevered and achieved a great deal of success in her career as a real estate investor.
She recommends that new investors focus on one asset class and gain knowledge about that area before moving on to other investment opportunities. Successful people have to be prepared to face challenges and setbacks. They also have to be willing to work hard and be tenacious.
The conversation also covers the importance of confidence for women in male-dominated industries. It cites Jacqueline as an example of a woman who has been successful in real estate despite not fitting the stereotype of what a “successful” investor looks like. She emphasizes the importance of taking control and doing research in order to be knowledgeable about what you are hiring for.
2022 has been quite the year for The REITE Club podcast with us hitting over 200 episodes since we started and now identified as one of the top 1.5% most popular shows out of almost 3 million podcasts globally as ranked by Listen Score.
We have also been recently recognized by Zolo.ca as one of the best Real Estate podcasts in Canada and one of the Top 28 in North America to listen to – check out their list here The Top 28 Real Estate Podcasts You Should Add to Your Queue
This podcast features a conversation with two real estate investors and realtors from Calgary, Anthony Therrien-Bernard and Santosh Nathan. They discuss their own real estate investing experiences and strategies, as well as the market in Calgary.
Santhosh Nathan started investing in real estate while he was still a student at university in order to become financially independent. He did this by saving up money from his military service and using his mother as a co-signer on his first mortgage.
In 2012, Anthony Therrien-Bernard started buying property in Calgary. Despite the oil and gas crash of 2014-2015, their properties performed well. They attribute this to their investing strategies.
The speakers discuss how they got started in real estate investing and the changes they’ve seen in the market over the years. They mention that prices have gone up, but they both feel that it’s still a good time to invest.
The two realtors met randomly and decided to work together because they both have experience with real estate investing. They help investors find properties that fit their needs and budget.
They are both investors first and realtors second, and they feel that this gives them a unique perspective on the real estate market. They enjoy working with investors and feel that they are able to provide a valuable service to their clients.
The pros and cons of being a realtor and a real estate investor are discussed. The overlap between the two professions is also discussed. Strategies for getting started in real estate investing are recommended.
The Real Estate Investing Academy helps people by providing guidance on what strategy may be best for them, depending on their goals and risk tolerance. They also have a Facebook community where people can ask questions and connect with other investors.
In the Calgary real estate market, there has been a shift in prices due to seasonality. Properties are no longer selling for significantly above market value, and investors are more cautious about making purchase decisions. Real estate agents are working to provide more accurate projections and information to their clients to help them make informed investment decisions.
It seems that many buyers in Calgary are looking for properties with a “vendor takeback” option, where the seller holds the mortgage for a few years while the buyer makes the payments. However, sellers are often reluctant to do this. There is also less inventory on the market, which is keeping prices high.
The content discusses how it can be difficult to find financing for real estate investments, especially when the economy is struggling. However, things are beginning to improve, and investors from outside of Alberta are starting to show interest in the market again.
Santhosh Nathan and Anthony Therrien-Bernard discuss their favourite resources for real estate investing and the attributes that have made them successful. They both recommend podcasts and books as great resources for learning and emphasize the importance of having a long-term perspective in real estate investing.
They discuss the importance of getting into the market quickly and offer advice for those considering investing in real estate. In order to be successful in real estate investing, it is important to be analytical and have perseverance. Additionally, it is important to treat tenants more like customers than friends in order to stay firm with lease agreements.
Brooke Shang is a real estate investor who has only been investing for five years but has already done numerous deals and adapted her strategies to the market.
She started investing in real estate in order to create wealth and reduce taxes and as a side hustle while working a full-time job. She was able to be flexible with her job in terms of hours and location, which allowed her to invest more time in real estate.
Brooke took weekend courses and studied during the week, and also had a mentor who was already experienced in the field. She advises other investors to build up a power team of supportive people, including a network of other investors, a realtor, a lawyer, and a mortgage broker.
Her first investment property was her previous home, a condo in Toronto. Brooke has since converted a few duplexes into income properties and focuses on strategies that generate cash flow.
In this week’s podcast conversation, Brooke discusses different real estate investing strategies and how new investors can choose the right one for them. She recommends setting goals first and then learning about different strategies and how to properly execute them. She also says that it is possible to focus on more than one strategy at a time. She also discusses the importance of mindset and education when it comes to real estate investing. She also stresses the importance of creating a win-win situation for both parties involved in a deal.
Brooke wanted to write a book to show her son that it could be done and to brand herself. She ended up writing it with her son as an accountability partner, and they finished it in a matter of months. The book is about helping investors invest in real estate, with a focus on mindset and strategy. The author’s goal is to help readers feel comfortable getting started, and the book covers lease options and creative financing wholesaling.
The best advice Brooke has ever received is to learn like you’re going to die. This means being humble and constantly learning in order to be successful. The hardest thing she’s had to learn is to overcome fear, which can be self-doubt.
Resources: Please check out all our podcast episodes https://thereiteclub.com/podcast/ Loved this episode? Please leave us a review and rating.
