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James Knull, a realtor based on the West Coast, discusses strategies for cash flow properties in Western Canada in light of recent interest rate hikes. One suggestion he has is increasing the down payment, which can offset some of the costs associated with higher monthly payments.

In this week’s podcast episode, James discusses two strategies for increasing cash flow from rental properties: increasing rent and adding short-term rentals. Additionally, he suggests that self-property management can help reduce expenses.

There is a collection of buildings in Vancouver that are now opened up to allow executive rentals on a month-to-month basis. This has increased the amount of available rental inventory in Vancouver. In Edmonton, Alberta, it is easier to rent on a nightly basis due to fewer regulations. In Vancouver, it is still possible to rent on a nightly basis, but it is more difficult.

It is competitive to buy multifamily buildings in Edmonton right now because there are a lot of people who are interested in investing in them. However, there are also a lot of people who are trying to tie up buildings who don’t actually have the capital available to close on the building.

Multi-family realtors in Edmonton spend a lot of time vetting buyers to make sure that deals are likely to go through. This is because the due diligence process for a commercial or multi-family property can take a couple of months, during which time a lot can change in the market. As a result, serious buyers need to be organized and ready to move quickly.

James discusses the recent change to zoning bylaws in Edmonton that now allow for multi-unit dwellings in core neighbourhoods. This change was made in an effort to combat urban sprawl and make the city more sustainable. Investors are targeting these properties because they are cheap and offer a lot of potential for cash flow. 

In this interview, James Knull talks about the importance of consistency in real estate investing. He also discusses the changes in Vancouver’s laws regarding short-term rentals, and how this can impact investors. Finally, he gives some advice on how to establish oneself as a serious buyer in order to be ready to purchase a property when the right one comes along.

Get in touch with James Knull
E-mail: James@mogulrg.com
Website: https://www.instagram.com/mogulrg/
Instagram:  @mogulrg
Facebook: https://www.facebook.com/james.knull

Brought to you in part by:
Legal Second Suites – https://legalsecondsuites.com
BM Select/Butler Mortgage – https://bmselect.ca/

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The biggest fear that real estate investors have in getting into larger residential units is that they will be intimidated by the size of the investment. However, our guest this week, Seth Ferguson reassures us that as long as we have a repeatable system in place, the intimidation factor goes away.

He talks about his journey as a real estate investor, including the advice he received to invest in bigger deals. He attributes his success to his boldness, which has allowed him to do things that others may be afraid to do.

Seth is also the founder of The Multifamily Conference – the crazy guy who put together the first event in the middle of a global shutdown because a) he is stubborn and b) he is a firm believer that face-to-face networking is the foundation of real estate.

To get your ticket to this amazing event order your seat here
https://multifamilyconference.ca/ref/theREITEclub/  

He specializes in multifamily real estate investing. In this week’s podcast episode, he discusses the benefits of investing in larger multifamily units as opposed to smaller units. 

Larger deals are less risky and better because of 3 factors; 

• Better debt options
• Increased cash flow 
• Economies of scale 

He discusses the value add strategy for commercial real estate investing. This strategy involves buying an underperforming asset, making improvements to it, and then selling it. 

It is possible to compete against the big guys when buying larger apartment buildings, but it depends on the niche that the investor is in. It is also possible to build a portfolio of smaller buildings that do well.

Seth also mentions that syndication is a good option for investors looking to acquire larger buildings. Syndication is a way for passive investors to pool their money together and invest it with a general partner, who then manages the deal to earn a return. He notes that the syndication model offers many advantages over traditional real estate investing, including the ability to participate in larger deals and the protection of passive investors’ initial capital.

He also outlines three steps that someone interested in large multifamily real estate investing should take. They should;

1. Determine what type of portfolio they want to build and research investment markets.
2. Assemble a team of experts and figure out how to structure deals and raise money.
3. Underwrite deals and create a deal flow.

It can take a long time to go from deciding to invest in real estate to actually making an offer on a multi-family property, depending on various factors. Seth Ferguson teaches people how to successfully invest in their first apartment deal. He says that the first deal is always the hardest, but that it gets easier with experience.

A 14-year real estate veteran, Seth is the host of a cable TV real estate show, the host of a real estate investing podcast, and the founder of Moguls Mastermind: an invite-only collective of the top real estate thought leaders from across North America.

He is the CEO of the real estate investment company Multifamily Real Estate Investments Inc which provides investment opportunities for high-net-worth individuals by acquiring and improving underperforming apartment buildings.

Get in touch with Seth;
seth@sethferguson.org
www.SethFerguson.org
https://www.instagram.com/sethfergusonofficial
https://www.facebook.com/sethfergusonrealestate/

This episode has been brought to you in part by
BM Select/Butler Mortgage – https://bmselect.ca/

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Jamil Rahemtula is a real estate investor and agent based in Hamilton, Ontario. He helps clients invest in various types of properties, including residential and commercial, and he focuses on student rentals specifically. He markets himself to clients by doing extensive due diligence on properties and screening them for value-adds that align with his clients’ needs.

He highlights that it is important to find an agent who is willing to do research and provide information on properties, rather than just selling based on emotion. It is important to be aware of what is happening in the market and to find an agent who is willing to do their due diligence in order to get the best deal possible. Asking the right questions is key, and investors should be aware of all expenses associated with a property before making an offer.

Jamil also talked about his own portfolio, which includes student rentals, multi-family properties, and commercial buildings. He suggests that landlords should focus on upgrading their properties to attract tenants who are willing to pay higher rents.

He shares that to attract certain tenant profiles he works by furnishing and decorating the rental units in a certain way. He mentions that they used to offer furniture rentals for a dollar a day, but they stopped because it became too cumbersome. They also mention that they sometimes offer to paint an accent wall for tenants who sign a lease at the right time.

Jamil’s first real estate purchase was a student rental property in 2008. He paid a premium for the property, but he still owns it today. He bought the property because he had been reading Don Campbell’s books and wanted to get into the real estate investing business.  

He discusses how he handles student rentals and market turmoil and offers three tips for landlords of student rental properties: 
(1) ensure good internet service by testing in every room; 
(2) offer appliances like dishwashers and freezers
(3) consider hiring a maid service. 

The cleaner can also help landlords keep an eye on the property and report any needed repairs or illegal activity. 

Contact Jamil Rahemtula
Email: jamil@rockstarbrokerage.com
Phone: 416-275-7819
Web: https://www.rockstarbrokerage.com/jamil-rahemtula/

This episode has been brought to you in part by
Private $ 4 Mortgages – https://privatemoney4mortgages.com
BM Select/Butler Mortgage – https://bmselect.ca/

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Real estate investors, are you aware that some of the recent Federal real estate laws could have tax implications? 

One that is catching many investors off guard is the Underused Housing Tax. 

Did you even know that in certain circumstances there is a requirement to complete a new tax form for each investment property, and failure to comply will result in a $10,000 fine per property?

Daniel DiManno, Partner at Capstone LLC Chartered Accountants outlines what to expect for filing this April 2023 and subsequent years, what your obligations are, and the implications of not filing or filing incorrectly.

The Reite Club recently hosted an event with Daniel DiManno, CPA, CA, discussing the implications of the Underused Housing Tax Act. Daniel noted that there are severe penalties for failing to file for rental properties by April 30th and that the act could be expensive for investors who are unaware of it.

He also touched on the new anti-flipping rules stating that if you sell a property within 12 months of buying it, you will have to pay business tax on the entire profit, rather than just 50%. There are exceptions to this rule for those who have to sell due to life circumstances.

But the main focus was the “Underused Housing Tax” which is a 1% annual tax that is being imposed on the value of residential real estate in specific circumstances. The tax is meant to target non-primary residences that are left vacant for long periods of time. The tax applies to properties that are not the primary residences of the owners, and that is left vacant for more than six months out of the year.

The new UHT return applies to foreign or domestic non-public corporations, individuals who are non-residents or non-citizens of Canada, trustees of trusts, and partners of partnerships. These people are required to file the return if they own residential rental property. Canadian citizens are not required to file the return unless they are part of a partnership.

This episode discusses the types of property that are exempt from the UHT return, as well as the types of property that are included. It also explains how to determine whether or not a property is considered residential under these rules.

If you own a property that could potentially be considered residential, it could be advisable to file a U H T return in order to avoid any penalties. There are various circumstances under which an individual would be exempt from paying the 1% tax on secondary residences in Ontario. These include if the property is the individual’s primary residence if it is rented out for at least 180 days of the year, if the property is seasonal or inaccessible, if it is undergoing renovation, or if the owner has recently purchased the property. If the owner of the property dies, the executor is also exempt from paying the tax for one year.

The new tax will be 1% of the value of the property, and the value is determined by the most recent sale price or the assessed value based on property tax assessments. The penalties for not filing the return or for not paying the tax on time are quite substantial, and they increase based on the number of months that the return is outstanding.

The Canada Revenue Agency will penalize individuals who do not file a UHT return for each unit they own. The penalties will be multiplied if the individual owns multiple units. The deadline for filing the U H T return is April 30th.

There is some debate among tax experts as to whether or not joint tenants or tenants in common will be considered a partnership for the purposes of the UHT, but it is generally believed that they will not be treated as such. The filing deadline for the UHT has not yet been announced, but it is expected to be sometime in the near future.

Daniel DiManno provides valuable information on the requirements for filing for the CRA  including the need to get a RU number, including the need for businesses to call the CRA and obtain the number. He also discusses the implications of a husband and wife owning property jointly with a third party, and how the joint venture would be required to file.

Contact Daniel DiManno
daniel@capstonellp.ca

This episode has been brought to you in part by
BM Select/Butler Mortgage – https://bmselect.ca/

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This podcast interview with Andrew Choubeta was eye-opening as he outlines the real estate portfolio he is building in Ethiopia. He talks about how he saw potential in Ethiopia as an investment opportunity, and how it has turned out to be very lucrative for those who have invested there.

Andrew is building a diversified portfolio between agricultural land, apartment blocks, and duplexes/triplexes. He mentions that leasing land is common in Ethiopia and other African countries, and can be for a significant period of time, which gives some reassurance to investors and that it is usually possible to renew the lease.

Some key takeaways include;

• The importance of learning the local language when investing in a new country
• Benefits of getting on the ground and experiencing things first-hand 
• Networking and connecting with people in the country
• The importance of finding a business contact who can help with the nitty gritty details of investing in a new country.

Some people are choosing to invest in Ethiopia, despite the perception of the country being unstable and dangerous. They believe that Ethiopia is still a great investment, due to the low prices of properties and the increasing number of tourists.

The government is very welcoming to foreign investors and offers a number of benefits, including guaranteed loans. Additionally, the cost of living is very low and the laws surrounding property ownership and rentals are not as strict as they are in other countries, making it easier to invest in Ethiopia.

Because it’s getting harder and harder to find good investment opportunities locally many people are looking at other options outside of Canada. Andrew suggests that new investors look at Africa as a potential safe investment and that the biggest hurdle to overcome is the language and cultural barrier.

Contact Andrew Choubeta
andrew@caveatllp.com

This episode has been brought to you in part by
BM Select/Butler Mortgage – https://bmselect.ca/

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When Mathew Frederick, an investor of 38 years, faces looming recessions he tightens up, seeking efficiency and increasing revenue, but when COVID hits, he finds a new way to leverage the situation to his advantage, creating a compelling central conflict between his need to survive and his goal to make life better for himself and those he loves.

“What I’ve always done in these times is to tighten up. So a lot of people look at how I make more money. I first look at how I make everything more efficient. And then at the same time, I’ll actually look to increase my revenue as well. So again, I don’t worry as much about the situations I cannot control. What I can do is control me.”

Mathew Frederick is an experienced real estate investor who has been investing since 1984 and has gone through three recessions. He specializes in commercial real estate investments, including multifamily, strip plazas, and self-storage.

Having experienced three recessions in various places Mathew could be cautious, but rather than worrying about something he could not control, he chose to focus on what he could. He tightened his budget and used the time to learn, investing in himself so he could be prepared for the next recession.

He started out small, investing in two to three units, but then grew to thirty. He learned how to be efficient, and how to make his investments recession-, internet-, and pandemic-proof. After 38 years of investing, Mathew had become a master of knowing his expertise and adapting to survive any situation.

In this episode, you will learn the following:
1. How to survive and thrive during a recession by controlling your own actions and taking the time to learn.
2. The pros and cons of investing in different asset types such as multifamily, strip plazas, self-storage, and warehousing.
3. The importance of creating a system to delegate tasks and maximize your skill set.

Contact Mathew Frederick
Mathew.f@rccsol.com
289-440-2335

This episode has been brought to you in part by
Legal Second Suites – https://legalsecondsuites.com
BM Select/Butler Mortgage – https://bmselect.ca/

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Mike Beer is a full-time real estate investor and former IT executive who immigrated to Canada from communist Poland. He is currently investing in multifamily properties in Kitchener, Hamilton, London, and Toronto.

Mike grew up in communist Poland and his parents had to bribe officials with coffee to get passports to escape. At a young age, he had to take a leap of faith and jump into the deep end of the pool to get a swimming card, despite barely knowing how to swim.

This experience combined with his parents’ struggle and the scarcity mindset he grew up with ignited a drive in him to make money and he found that in real estate investing. Through his mentor and his team, he overcame his scarcity mindset and grew his real estate portfolio, eventually realizing he didn’t need a salary to survive.

His biggest lesson learned was to always find a property manager that specialized in the market you’re investing in to avoid costly mistakes.

In this week’s podcast episode, you will learn the following:
1. How Mike used his parents’ desire to escape from communist Poland to move to Canada as motivation to build a successful real estate career.
2. How Mike overcame a scarcity mentality and leveraged his team to buy multifamily buildings.
3. How to manage a portfolio of student properties in Hamilton to maximize returns.

Connect with Mike:
Website: https://www.mikebeer.ca/
Facebook: https://www.facebook.com/profile.php?id=100064234980838
YouTube: https://www.youtube.com/channel/UCc2dZAOcUgn7drtR2yy7MFA
Instagram: https://www.instagram.com/mikebeer_inv/

This episode has been brought to you in part by
Private $ 4 Mortgages – https://privatemoney4mortgages.com
BM Select/Butler Mortgage – https://bmselect.ca/

Follow The REITE Club:
Instagram: https://www.instagram.com/thereiteclub/
Facebook: https://www.facebook.com/groups/thereiteclub
YouTube: https://www.youtube.com/channel/UCKPoaUTDRdCx9-Db-aI0ehg
Website: https://thereiteclub.com/

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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.

Get in touch with Sarah and Aisha at Mid Term Rentals
E-mail: infoAmidtermrentalproperties.com
Website: https://midtermrentalproperties.com/
Instagram: https://www.instagram.com/midtermrentalproperties/
LinkedIn: https://www.linkedin.com/company/midterm-rental-properties/about/

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/

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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.

Get in touch with Andrea:
Instagram: @hodsonhomes
Email: andrea@hodsonhomes.ca

This episode has been brought to you in part by;
Legal Second Suites – https://legalsecondsuites.com
Paul Copcutt – https://paulcopcutt.com/personallybrandtastic/
BM Select – https://bmselect.ca/

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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.

Follow Sandro Ferreira
Email: info@sandrocanada.com
Website: https://sandrocanada.com/
Twitter: https://twitter.com/sandrocanada
Instagram: https://instagram.com/sandrocanada
Facebook: https://facebook.com/sandrocanada
Linkedin: https://www.linkedin.com/in/sandrocanada/
Pinterest: https://pinterest.com/sandrocanada
Tik Tok: https://www.tiktok.com/@sandrocanada?lang=sw

This episode has been brought to you in part by
Black Jack Contracting Inc – https://blackjackcontractinginc.ca/
BM Select/Butler Mortgage – https://bmselect.ca/
Sarah Larbi with Mid-Term Rentals- https://midtermrentalproperties.com/