On to this week’s show, someone polar opposite to my strategy of lazy investing: fully involved and active investing including having executed on 150 or some deals in 2023 including 50 flips. While Luc Boiron lives in Ottawa, he has flips are far as Vancouver and while flips are sexy as people love to watch them on tv or take courses on flipping… well I’m sorry, not sorry we have Luc here to share a behind the scenes look at why he’s flipping and it’s not what you’d expect.
Luc is the founder of Bliss Realty, former lawyer, one of Canada’s leading investors. He has a massive team and even more massive advertising budget. Luc is a legit investor and even has some stories about fake it till you make it investors failed to close on buying wholesale deals from him.
Listeners, never forget, the community is a small one and we all talk. We know who the fake it till you make it investors and gurus are and where they learnt those strategies.
As Warren Buffet says “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
Luc Boiron has also recently launched his podcast the Selfwealth Real Estate podcast available on Apple Podcasts and my fav platform Spotify.
Please enjoy the show.
Our guest should need no introduction, it’s my lovely wife the Real Estate Accountant Cherry Chan!
Cherry Chan is here to share about the convoluted changes by our Federal government who seem to know more about what real estate we own, they keep coming out with half baked ideas only to delay, delay, make us all jump through hoops, make busy work. It’s really complicated stuff but Cherry is a talented messenger who can explain what the Trudeau, Liberal government is doing.
We also chat about our lessons from the downturn in the real estate market, how we are refocusing on at least cash neutral properties hence the decision to diversify to the landlord friendly states of the USA. I’m hoping Cherry and I can take a trip to the south: Georgia and Tennessee in May after tax season. Romance and cash flow. Two of my favourite things in life. I hope you all had a wonderful Valentine's Day and find more cash flow in your lives because never forget, cash flow is what affords you freedom. US dollars are also worth more than Canadian dollars.
Please enjoy the show!
In this enlightening episode, Rachel, with a background in advertising managing a $65 budget and a significant journey in real estate investment from growing up in a duplex to owning investment properties in Florida, investing in duplexes and garden suites in Barrie, Ontario to now full blown cottages resort business owner and operator in Muskoka. Rachel's story of strategic investment and personal growth. Our conversation touches on the challenges of property management, the insights gained from renovating and selling properties, and her aspirations to contribute positively to societal health through real estate.
Cottages and short term rentals are a hot topic in the community, Rachel has experience in both short and long term rentals, she’s a no BS kind of gal, she’s obviously smart, you don’t get $65 million dollar advertising budgets to manage for some of the most recognizable brands in the world at two of the top 10 advertising agencies in the world.
TikTok: https://www.tiktok.com/@chaletsmuskoka
Chalets on Muskoka: https://www.chaletsmuskoka.ca/
Property Management: https://www.caradengroup.com/
Facebook: https://www.facebook.com/rmholden
On today’s show I invited my good friend Christian Szpilfogel to discuss the sad truth about real estate in managing and recovering distressed assets, understanding the root causes and having proactive strategies.
We discussed the risks of private lending, the responsibilities of the borrowers. Christian has the unique perspective of having worked in a heavily securities regulated environment of Mergers and Acquisitions when he was a general manager under one of Canada’s richest Canadians only to see the wild, wild west that is real estate investing where some investors openly violate securities laws in soliciting the public for capital even offering guaranteed returns.
The last time I heard “guaranteed returns” was from the owner of a now bankrupt company and he’s on the run from the cops.
Christian being one of the good guys in real estate, I thought he was ideal to text at 9:30am to come on the show for 10:30am to talk about losing money. Christian is the owner of the Aliferous Group where he invests his and only his family’s own money, he has no courses to sell, no coaching to sell, he’s not accepting OPM other than the bank’s, he just wants to help people. It’s why we get along so well.
Christian is also Vice President of OREIO, the Ottawa Real Estate Investing Organization, a non-profit, membership based educational organization. Annual membership is only $127, I’m a member too and the value is unmatched. https://www.oreio.org/Membership
I’ve included some links to news sources in the show notes as well. Sadly, I saw investors go belly up in 2008 in the financial crisis, we’re seeing many have problems today and we’ll see this happen again because some didn’t learn from history. So please take this chance to learn from history else be doomed to repeat it. Also watch out for confidence artists, note that con artist is short for confidence artist.
Please keep your investments safe and enjoy the show.
From the Globe and Mail article:
https://www.ksvadvisory.com/experience/case/SID
https://www.cbc.ca/news/canada/hamilton/investors-bankruptcy-1.7102325