This week we have Mackenzie Wilson of SingleKey the tenant credit and background check reporting service that recently acquired Naborly.
If you haven’t heard of SingleKey… well they are quite popular in the circles I run in and for you new investors, you’re so lucky you don’t have to run credit checks the old way…
Mackenzie is a very diligent investor from Calgary, Alberta. He shares how we went from oil rigs and IT at Telus and left it behind to start an online business in real estate that didn’t go so well but he survived, still owns his three duplexes in Calgary and works at SingleKey as a Director.
As you’ll soon tell, Mackenzie is a diligent landlord (one of the most diligent I’ve ever met) and loves to help other landlords in Alberta out as he’s always sharing and educating his peer group of 4,200 Alberta Landlords
On today’s show we talk about the difference between commercial and residential in Calgary, Calgary vs. Edmonton. Of course we talk about tenant screening as it appears to be a passion of Mackenzie’s even though his properties are in Alberta and how appropriate it is his day job is now at SingleKey.
One big nugget is I asked Mackenzie as a beginner investor, what should I buy in Calgary and his protip is a good one.
Please enjoy the show!
Alberta Landlord Communit: albertalandlordcommunity.ca/
Two recent articles Mackenzie recommends
On to this week’s show!
We have something different in that our guest is a successful entrepreneur in the world of Business and not real estate investing, YET.
Nick Kindler is the Chapter President of Entrepreneur’s Organization, a private membership of seven figure entrepreneurs that Cherry and I also belong too.
As a member of the real estate community, I find learning from entrepreneurs just as helpful as learning from real estate investors to broaden my learning. I also see all these memberships and masterminds costing $20,000-30,000 or more, I wanted you my 17 listeners to be aware of other masterminds, membership groups and Entrepreneurs Organization is less than $10,000 per year and I’m a big fan.
Who better to talk about Entrepreneurship than our very own Chapter President Nick Kindler who also happens to be my client who’s working with team member, Chris “the Captain” Hook to acquire quality investment properties.
Nick is here today to share his experience as an EO member, President, his entrepreneurial journey which includes a $4.5M business that went bankrupt but more importantly how he bounced back, the lessons learned so you may avoid the same mistakes.
FYI - failing businesses, losing money and letting staff is not a fun experience in my experience. Please take notes.
If you would like to learn more about Entrepreneurs Organisation please reach out to Nick on his company website www.kindlerandcompany.com/contact you can hit me up on email on DM or you look up your local chapter at https://hub.eonetwork.org/
I’ll be a the open house event on March 9th that Nick mentions so I hope to see you there! Link: https://www.eonetwork.org/toronto/Pages/upcoming-events.aspx?i=2&s=5
Nick’s consulting business helps innovative leaders communicate better, for example I attended Nick’s two day workshop on how to give a TED talk which was excellent where Nick deconstructed what goes into an excellent talk then walked us through to write our own and how to deliver with stage presence.
Nick is also the author of Impact: Simplify, Transform, and Perform Pitches and Presentations available at https://www.impactbook.ca/
Without further ado, I give you Nick Kindler.
Hello and welcome to another episode of the Truth About Real Estate, my name is Erwin Szeto, the four time award winning Realtor to investors, host of this podcast, the #81 Business podcast per iTunes, where we focus on bringing you true experts, masters of their craft and we have a great guest for you today in real estate coach and educator Elizabeth Kelly.
The term coach has been used lightly these days. I see even folks with 1-2 properties as side hustles call themselves coaches. Elizabeth Kelly has a bit more to her resume than that. Her own property management company hundreds of doors, she was a full time real estate investing educator at Rich Dad Canada having personally taught a couple thousand investors including many of the infuencers and coaches you see today on social media.
Today we touch on a couple subjects such as the investment in real estate education and some of the different options out there as there are more than ever but some offer better value than others.
Elizabeth shares about her career and investor journey to arrive at where she is today. Her strategies when starting out investing in 2008 is very different than how she invests today and my intention for you my 17 listeners is to see for yourself how a professional investors at different stages, lessons learn so you may avoid mistakes and make more money.
Then we will offend many when we discuss what’s working and what’s not working in 2023. This may shock you, many of the fad investments getting a lot of hype won’t work in 2023. Make sure to have a listen before investing in any coaching or courses or even property.
2023 is going to be a fascinating year and here at iWIN real estate, we will be arming our community with the best information possible. Staring with our free webinar on how to sell a tenanted property for maximum return on January 17th, followed by our iWIN, in personal networking meeting on Saturday morning Jan 28th when my team and I share our bold predictions for 2023 for our target investment markets and we have at REIT in the house, Lawrence Raponi of Equiton with a brand new presentation explain how professionals buy apartment buildings, from how they find deals, to the numbers they need before even looking further into.
Learn how the professionals invest or at least learn how investing in a REIT works including cash flowing from day 1.
If you’re on my email newsletter, then you know how to register. If you don’t? Well that’s just silly, go to www.truthaboutrealestateinvesting.ca enter your name and email and you will receive an email when we have events and when new episodes of this show is available.
New to 2023 is we will be producing a lot more free educational videos and podcasts. If you have suggestions for topics you would like covered please let us know.
It’s my pleasure to introduce to you, my friend who passed our strict screening, Elizabeth Kelly.
Please enjoy the show!
Real Estate Resilience Summit: https://realestateresilience.ca/sumreal-estate-resilience-summit-ek
We have Ken Bekendam who is up to many things to generate cash flow and build wealth in real estate. The best part is Ken is available for hire! One can hire Ken’s company https://legalsecondsuites.com for major renos to your home or investment property including basement apartments and garden suites.
Ken and Legal Second Suites has even been in the news representing one of his clients, a mutual friend of ours Alex who happens to be Ukrainian who wants to convert his garage into a garden suite to rent to Ukrainian immigrants but the rich neighbours think the added density of tenants living in a garage will damage the neighbourhood and increase traffic.
Thankfully, with municipalities trending in the right direction to allow for us private investors to create more housing… well I won’t spoil it and let Ken explain to you how the story ends. Rich homeowners vs. rental housing for Ukrainian immigrants….
In today’s show, Ken details what strategy makes up the majority of his portfolio and provides him with the massive cash flows. It’s not what you expect as none of the influencers out there are promoting, nor offering courses on this strategy.
Ken shares how to invest in garden suites including build costs and rents plus some conversion projects both big and small. This is really great episode for education purposes so do have those pens and pencils ready.
I give you my friend Ken Bekendam
Please enjoy the show!