Victor shares a lot today about how to scale up a real estate portfolio, how novices can get started interning/volunteering on development projects to gain invaluable experience for a smoother transition from side hustle developer to full timer.
There’s Victor’s strategy of “buy on the line, move the line” for investing in gentrifying locations. We’ve been practising the same strategy in our local markets, I just didn’t know there was a name for it. In Hamilton the old rules were to stay south of Main St. and West of James St., as a rule breaker we didn’t listen knowing affordability would cause the areas we targeted to appreciate and it worked out incredibly well.
If you too are looking to build out a team in the areas east and west of the GTA where properties actually cash flow then don’t miss out on our street smart tours! New to 2023 we’ll be operating tours of income properties in Oshawa followed by a mastermind lunch for which I’ll be in attendance as well. This a wonderful opportunity for investors of any level, especially novices to see how the FOUR time Realtors of the Year to investors service their clients enabling them to build intergenerational wealth.
Make sure you’re on our email newsletter along with 10,000+ other hard working Canadian investors available at www.truthaboutrealestateinvesting.ca. I hope to see you in 2023 at one of our iWIN Real Estate meetups and/or street smart tours. Like Victor says, there are going to be some great deals available in the near future. Learn what a deal looks like and work with an award winning team that produces successful, multi-millionaire investor clients.
BTW, Victor is also the President of OREIO and if you’re in Ottawa, you want to check them out. In my experience, the value and quality of group can’t be beat hence I’m a paying member as well.
Personal Website: http://www.victorjm.com/
Work Website: www.Ystreetcapital.com
This week is a lovely story about a young Millennial who started his journey in his passion: health and fitness, if you’ve seen Vince Lee in person, he’s jacked and looks like a personal fitness trainer. Unfortunately for personal trainers living in Toronto, it’s hard to get by.
Thanks to his supportive partner, shout out Chewy and the Trust Your Talent community, shout out Tim Tsai, Vince has been able to create a side hustle in real estate investing, specifically rent-to-owns, scaling to larger and more projects, and moved the family from expensive Toronto to more affordable Edmonton, Alberta.
Vince’s story is a good one and reminds me of why I invest so hard, so I can afford to keep my kids close and living in Ontario.
Congrats to Vince’s success, please enjoy the show!
To follow Vince:
How refreshing is our guest Diana today! It goes to show one can’t judge from an Instagram handle. Eg Diana’s is @investorgirldiana when really it should be @sophisticatedinvestordiana but I get it. We are supposed to be humble and modest in our marketing.
But screw it. Diana is legit. She shares her experience and numbers flipping from a $2.3M luxury house in Toronto and to a century home in Hamilton to Windsor private lending as well. There are lots of numbers in this episode including mortgage rates as some of the capital was private money AND Diana shares how she personally lends her own money.
Diana’s taken expensive courses and masterminds. The quality of some is questionable as there were folks in the same masterminds as her years ago who are now bankrupt financially. That’s right, some courses, memberships, and coaching have negative return on investment. You as an investor have to conduct proper due diligence on anything you invest in including education.
Diana however with her conservative projections and husband as a skilled general contractor have navigated this declining market and exited flips profitably. Some are more profitable than others and not without challenges which Diana shares.
Sidenote: I’ve noticed a trend where an investor’s ability to execute on construction or renovations can be make or break for investors. Especially the full timers. In my experience, constantly working with the best of the best contractors has been instrumental to my clients and our own success in our portfolios. Those unable to execute
Not that any contractor is perfect unless maybe you marry them like Diana but much risk can be mitigated with the right one and proper oversight. That’s something we do for our clients, connect them with the same contractors we use and we are in regular weekly contact with them for our own projects and for our clients. As we here at iWIN Real Estate, we do volume hence we are usually our contractors top referral source and we’re all looking for win-win-win results. Win for the contractor, win for the client, win for us in that we have a happy client who buys more houses and sends us referrals.
We are in this for not just long-term but rather intergenerational relationships to create intergenerational wealth as we literally have three generation clients: grandparents, parents and the kids.
To follow Diana:
We have old friend of the show Russell Westcott who was in town all the way from Vancouver to Toronto for the Wealth Hacker Conference.
Russell has owned 100+ properties and has the battle scars and lessons on how to invest better in Edmonton Alberta. Russell is a smart guy and here to share about how his coaching clients are navigating this high interest rate environment with creative, above board financing and a couple different investment strategies for highest and best use to create more housing units and of course generate higher rents on properties that other investors simply don’t see.
As always it’s a treat to have the JV Jedi on the show, someone who’s always thinking outside the box on how to maximise returns for his coaching clients and on their properties.
I give you best-selling co-author Russell Westcott!