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The Truth About Real Estate Investing... for Canadians

For Canadians by Canadians sharing the truths about generating wealth through real estate investing. This show is about getting rich slowly, investing is a marathon, no get rich quick methods will be discussed here hosted by award winning investor and three time Realtor of the Year Erwin Szeto aka Mr. Hamilton
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Now displaying: Page 7
Nov 23, 2019

On to this week’s show!

We have a very special guest in Derek Foster of Ottawa, Ontario.  He’s happily married with eight kids. Derek jokes it’s because Derek doesn’t have a regular job and neither does his wife so they’re home a lot hence the eight kids.  Derek is a six time best selling author and my favourite book of his is Money For Nothing And Your Stocks For Free because he introduces his strategy for option selling.

If you’re new to investing in the stock market, I recommend you read Derek’s books as they are written at an introductory level for a grade schooler. I wish I’d read these books when I was younger as I’d be further ahead.

Anyways, I’m a big fan of Derek and it’s not easy to get him as a guest so I bought of bunch of his books to get his attention that I’ll be giving away to iWIN members.  Derek explains on this show how his strategy worked, the mistakes he made and his biggest wins. How he lost 75% of his savings before finally getting himself properly educated.  

For anyone who thinks stock options is risky, Derek shares his own experience, strategy and stocks he’s trading. 

Disclaimer time!

This service is provided to you for informational purposes only and is not investment advice to you or any other person. We are describing the investments we have made for ourselves and is reflective of our own circumstances. Your circumstances are different and any discussion here is not intended to be and must not be considered to be a recommendation for you to make the same investment(s).  Consult an adviser or dealer licensed in your jurisdiction before making any investment decision.

Derek is a nice guy and so am I I hope. FYI, Cherry and I made a $10,000 donation on behalf of the Wealth Hacker Conference to clothe, feed and provide presents to Hamilton’s most impoverished families.  We’re still processing payments from the event and will make a second $10,000 donation for a total of $20,000. That’s enough to fund an entire holiday budget for us to support 40 families or our preferred metric at the Hamilton Basket Brigade: best Christmases ever.  I’m not bragging however I do believe actions speak louder than words and we Wealth Hackers, we will be the change we want to see in the world.

It is my honour to present to you Derek Foster

Nov 23, 2019

There’s so much going through our heads in the last 48 hours.

As excited as it was for us on Saturday at the Wealth Hacker Conference, we didn’t start out that way.

Our journey started off around the time when Cherry’s grandma passed away. A small idea was planted by Maryanne Gillespie, Erwin’s coach, to host free classes to share the idea of building long-term wealth through real estate investment.

We discussed and we brainstormed, nothing really firmed up and Cherry took off to Hong Kong to attend her grandma’s funeral.

When Cherry arrived at Hong Kong after her 16-hour flight, Erwin already recruited a bunch of his friends, most of them are real estate experts, to join him on hosting an all-day educational event.

Talking about taking action, I’ve never wasted time to take action!

That was the beginning of Wealth Hacker Conference.

In February, we attended 10X Growth Con at Marlins Park Miami, part of the 32,000 people who attended the event. We were completely blown away by the 10X philosophy, but we had little idea how much 10X Growth Con affected our own planning.

We hired an event planner, Shauna Arnott, who’s also the host of the event Haste and Hustle. She brought up the idea of bringing Grant Cardone to Toronto. 

Grant is a real estate mogul. His philosophy is about investing in himself and building long-term wealth. He’s all about taking responsibility of our own lives and 10X the goal and effort to achieve the 10X goal.

Grant was a great fit, but … would his personality get along well with our humble Canadian crowd?

When in doubt, Erwin turned to Facebook.

He posted the question and asked, “would you like to see Grant Cardone or Robert Kiyosaki?”

The rest is history.

We had delay booking Grant, then we had competition. Then we had problems firming up a venue.

We wanted to deliver the best value, instead of just another real estate educational event.

Erwin reconnected with his friend Omar Khan, who has been tirelessly sharing his simple stock investment strategy with everyone around him.

Omar has lived his life on his terms. He spends most of his days managing his properties and trading stocks. Almost no one has seen him speak in public before.

We know that the world needs to hear him sharing his virtually unknown investment strategy, but we had our doubts about him early on. Can we put Omar on stage to speak to 1,500+ attendees?

Our ticket sales weren’t exactly how we expected in the summer. Our marketing agency decided to leave us before end of summer. It was tough, but it was a blessing in disguise.

This was the turning point for us. A light bulb went off in our heads. We realized that both of us needed to step up, take charge, take responsibility and promote.

If this event is our version of 10X, we gotta 10X our effort to 10X our results!

It wasn’t easy. From writing the emails that you see everyday, to posting on social media strategically, to driving for a few hours to present at different venues, to interviewing Grant Cardone in person in Miami, we spent a lot of time, effort, money and tears along the way.

Is it worth it? Hell yes. 

We have grown to become someone that we have never thought possible. We now come to appreciate the value of our network and our list 100X more. Thanks to Tom & Nick Karadza, who taught us about building and nurturing our list, before we even started having any businesses.

Are we done yet? We hope not. 

We still have a message to share. We still want to continue to help you to build your long-term wealth.

We still want to make sure you can take control of your financial life, quit the job that you always want to quit, pay for your children’s education and travel around the world.

You can continue to join us on our wealth hacking journey here.

Thank you once again for joining us at Wealth Hacker Conference.

 

Until next time,

Erwin

Nov 9, 2019

Hello Wealth hackers!!

What a week!! Fresh off Thanksgiving so it’s already a short week and I took a 6am flight to Miami, Florida on Tuesday for my meetings with Grant Cardone and Steve Spray at Cardone Enterprises.  Honestly, I don’t usually book my own flights, Cherry usually does or my travel agent but being ultra frugal at times can cost me in different ways than money and this time it did. Getting up at 2am for a 6am flight really cost me a lot of energy on Tuesday so let that be a lesson learned for next time.

Hotel check in time is not until 3pm anyways so arriving at noon wearing in a suit jacket in humid, 28 degree celsius weather while dragging luggage with me is hardly practical…

Thankfully, I was able to check in early, Thank you Courtyard Marriot, at noon, I felt like crap so I had a nap and did some work. Till my 3pm meeting with my videographer Dorian Nash.

Dorian is a good guy, 25 years old from Michigan and moved down to Miami to get out of his comfort zone, make more money to pay off his student debts from college.  Sadly he could not find his path in college, he did study Psychology but they didn’t teach him anything about the Psychology of Success (That’s the title of a wonderful book by Brian Tracy that I highly recommend).

Sadly Dorian’s story is not uncommon.  He went to college, it hasn’t helped him in his career but he’s still paying off the debt.  He asked me on camera what I would advise someone who is 25 years old and my advice doesn’t change.  

Invest in yourself first, get educated in ways you can provide the most value in your current situation assuming you like where you work.  Look at who makes the most money in your organization then request to take on similar duties. You’ll notice whoever makes the company the most money or saves the company the most money earn the highest incomes. 

My path was no different when I worked in corporate: I explored ways to transition into the Sales Department as our Sales Executives all made six figure base salaries and very lucrative bonuses based on performance.  I was highly inexperienced when I checked the job description so I made the move from Operations to Product Management.

In a software company that sells software products, those who manage the products are valuable and my salary increased by over 40%.  Increase salary meant more savings, more RSP matching, more credit for mortgages for investment properties or funding your stock investing account.

Many people start out trading time for money so you may as well trade your time for as much money as possible.  I was no different and Dorian is no different. Then we discussed real estate and stocks. As he’s still in debt and doesn’t have a downpayment for a property, I suggested stock hacking and he’s definitely interested.  He’ll start small just like we all do but it’s better to start and start small then not at all.

Anyways, as mentioned, I was in Miami, Florida to meet with Grant Cardone’s team and to interview Grant for my podcast.  I’m just waiting on the recording and we’ll publish it right away. For me it was an awesome interview. I took a week to prepare my five questions I had to submit in advance, I wrote a sixth on the spot then had to freestyle as I think Grant was enjoying the interview and we went over the 20 minutes I was allotted.

I don’t want to spoil too much, we discussed how he’s scaling his business both in revenues and in staffing: today, Cardone Enterprises is around 175 staff. I think they were three around ten years ago.

We discussed how to avoid burnout, how he’s raising his daughters and their education, why he shows off so much with his Roll Royce and private Gulf Stream jet plane, why people hate him and why people love him.  The lovely Elena Cardone walked in during the interview as well so I couldn’t help but ask her if she’s coming to Toronto on November 9th and spoiler alert, she is.

Elena Cardone is totally underrated as an influencer by the way.  She has so much presence, it felt like Julia Roberts walked into the room when she did. 

I’m getting side tracked, on to this week’s show!!

Ready, Fire, Aim Real Estate and Stock Hacking w/ Habib Olawale

We have my friend Habib Olawale of no surname :) Habib doesn’t share his surname on social media so to respect his privacy I’ll leave it out here as well.

Habib is a real estate investor with properties all over the Greater Toronto Area.  His strategy is not quite refined but he’s bought mainly new construction condo apartments spread out over the Greater Toronto Area.  He’s done some stock investing as well as he explains but I think it’s safe to say his strategy was hardly sophisticated.

We met over social media as Habib reached out after being a fan of this show, he came to an iWIN meeting in July, saw the presentation by Matthew, Omar and Adriano, my stock hacker friends and ever since, Habib has been obsessed with stock hacking.

Habib took the first Stock Hacker Academy course in September and to date has made himself over $10,000 as a beginner stock option trader.  Note he’s made far more on his real estate but even Habib wouldn’t recommend anyone follow his strategy but the most important part is he got started.

For anyone interested, the presentation that launched Habib to 10k in less than three months, you can see that exact presentation if you use the promo code stock when purchasing your tickets to the Wealth Hacker Conference.

All you need to do is go to www.wealthhacker.ca and just before selecting what level ticket you want, click on the promo code blue hyperlink and enter stock.

Or use the direct link in the show notes: 

Link: https://wealthhacker.eventbrite.ca?discount=stock 

For anyone interested in taking the same Stock Hacker Course Habib did then save the dates Saturday and Sunday Nov 30th-December 1st for the in class portion of the next Stock Hacker Academy.

 
Nov 2, 2019

Here’s a quick update from these parts, my stock option selling is going great, my realized return is $550 and I’ve collected $1,100 in cash. 

In bigger news, my AirBnb is now sold, fully furnished and we close in just a few days! I can’t wait to have that capital back so I may trade more stock options!  The plan is to increase my bank roll into six figures and take it from there. The last six weeks have been amazing for myself and our group of 70 stock hackers. With each day that passes, we have more investors reporting in their first thousand dollars in profits.  Several have a couple thousand, my friend Monica reported 10% in returns in just six weeks. That’s the high number for the group thus far and just to clarify, those are absolute numbers not annualized and the last few weeks have been quite good for the market… let’s see how long the stock market holds up.

In even bigger news, we’re about to pass 1,200 in ticket sales for our Wealth Hacker Conference.  I’m realizing I don’t mention often how many tickets we’ve sold but for everyone involved, this is the biggest audience we’ve ever spoken too.  Grant Cardone our keynote has done several talks to much bigger audiences but this is yet another step out of my personal comfort zone.

Get comfortable being uncomfortable I always say.  If you’ve followed my story of always trying new things out: AirBnb, private lending, stock option selling to stuff in my personal life, I’m a weak swimmer but I got my SCUBA license and have done at least ten dives.  Crossfit, Brazillian Jiu Jitsu, my fear of heights etc…. I’m no one special but I’m determined to just show up, go through the process, give my best on a daily basis and results tend to show up. 

For my fellow introverts, this may shock you, I prepared and delivered a presentation in Toronto last week, I went through my slides once in preparation to a room of 50-60 of mostly strangers. I’ve never given a talk on joint venture investing in real estate before but it was well received.  Just like this podcast, I think people enjoy the, no agenda, no holding back sharing we do on this show. One thing I don’t like to do on this show is to NOT scare the listener. As I produce this episode, Halloween is only days away but I’m talking about much scarier things such as a recession.

Recession, recession, recession.  There I said it. I hear it often, I don’t know when it’s going to happen, my crystal ball is no better than yours but what I know my portfolio is designed for said occurrence because it pays for itself.  My portfolio mix is almost entirely duplexes and student rentals in areas with very little vacancy.  

The great things about recessions however is the opportunity to buy the bottom and retire shortly after like this week’s guest Brian Zammit.

How An Investor Retired Him And His Wife With Dividends in 2011 With Brian Zammit

I’ve known Brian for a couple years.  He’s extremely successful with his ecommerce business of buying goods from the far east to market and sell to the west, some on Amazon too. Brian has been doing it very successfully for years.

Brian is also a real estate investor but he didn’t retire off of his real estate, he is a real estate investor which qualifies him to be on the show however I wanted this specific part of his story so you the listener may benefit and hopefully retire shortly after the next recession like Brian and his wife did.  

Brian retired him and his wife off of the stocks he bought in 2008 and 2009 after learning how to sell stock options by reading Canadian author Derek Foster’s book “Money for Nothing.”  The same book we’ve mentioned one this show a couple times.

Brian timed a once in a lifetime opportunity and nailed it.  He doesn’t think so and I’ll let him explain but if you can make an investment and retire off of it, I’m all ears because who knows when the next correction comes because I want to be ready for it.  

Brian shares how he timed the market, the plethora of books he’s read, what he really thinks of Omar and Matthew’s Stock Hacker Academy, the same program him, myself and a couple other past guests are taking.

Brian is a good guy, really sharp, and I’m really glad we had someone like him in the first group through the Stock Hacker Academy to validate the strategy works.

Oct 26, 2019

Hello Wealth Hackers!! 

Welcome to the truth about real estate investing show and we have a special guest in Grant Cardone this week.  If you’re not familiar with Grant, he is the bestselling author of The 10X Rule and If You’re Not First, You’re Last as well as a sales trainer, speaker, and entrepreneur who has worked in real estate and the auto industry. Grant Cardone is a real estate mogul who built his $1.2 Billion portfolio of multifamily properties from scratch. Moreover he was named the #1 marketer to watch in 2017 by Forbes Magazine.

You know that saying how you can judge someone by how they speak to the secretary?

Well you should see Grant. He definitely leads from the front and I can see it in his people who work with him that he’s well liked. Grant will say people only like him because he makes them money and he’s definitely charismatic, funny, and witty.

Other than hanging out with Grant, I was hanging out with one of Grant’s lieutenants in Steve Spray, he’s the host of Cardone University’s Mastermind and he’s really cool. Steve used to be so broke, he secretly lived in a furniture store where he worked. Since Steve joined Grant when they were only around ten employees, today they are 175 and he is extremely successful. We had lunch and did a bro workout together. Steve did 100 pull ups. I think I did 45. I’m going to play the age card this time as Steve is 10 years younger than me.

Steve shared how Grant personally coaches him which is wild to have a coach on that level and again, Steve is already very successful and is still learning.

The experience of being around Grant and his people definitely expanded my mindset to think bigger and I hope the same for you the listener. It may not seem like it but I stewed on these five questions I was asked to submit in advance. I’ve watched a lot of interviews of Grant and wanted to pull out that story no one has heard yet.

Personally this is one of my favourite interviews in it’s challenge and it was fun from joking about Canadian modesty to next level, multifamily investing in the hundreds of units. Grant’s Cardone Capital manages $1.2 Billion dollars US in real estate so he’s definitely the biggest real estate investor we’ve had on this show.

If you’d like to see Grant live in Toronto, on November 9th, go to www.wealthhacker.ca and use the promo code thetruth to save 10% off the public price.

Link: https://wealthhacker.eventbrite.ca?discount=thetruth

Oct 19, 2019

Hello and welcome to the Oliver Manalese show with your guest Erwin Szeto. LOL.

This episode is something different.  My old friend Oliver Manalese, one of the most successful rent to own investors I know asked me to be his first return guest on his show.  Oliver is a good guy, his business is to coach people through their problems, many self inflicted. I joked with Oliver when booking our interview, I told him “you’d be losing you S&$% with me if I was your client” I know my coach already is. LOL.

Anyway, the tables are turned today, Oliver has known me for years, since 2008’ish so it’s cool to be interviewed by an old friend who will ask those next level deep questions.

Without further ado, I give you some guy, he’s a husband and dad trying to figure out the most efficient path to financial peace and to make his kids proud.

 

Oct 12, 2019

Hello Wealth Hackers!!

Welcome to the Truth About Real Estate Show!!

If you’ve ever felt like an underdog or that project or investment you wanted to start looks insurmountable then please just think of this podcast.

Everyone and everything starts from the bottom. If you did me the displeasure of listening to the first few episodes of this show, you know how bad it was.  I was nervous like heck, I spent hours to prepare and produce the show as part of a six episode experiment. I stuttered more than usual.

I like to experiment, a test, so if a project fails, you move on to the next thing, learn lessons and move forward. I knew from the beginning, I wouldn’t be the most well spoken, our music is well, something I put together on GarageBand, our audio quality won’t be the best as my guests are hundreds if not thousands of kilometers away plus driving is just a time vampire.

I’m not sure what happened in the last month but we’ve had an overwhelming inflow of positive feedback.  Shout out to Jody Fleck, you’re email still makes me smile and happy to hear you connected with Anna Moore who is a past guest of this show and doing amazing things in affordable housing for retirees.

This morning, I checked our reviews of this podcast as a barometer as I’m updating our Marketing from time to time and in the whole world of business podcasts on iTunes, this little podcast that could is ranked 88th.  Lucky number 88. A podcast with a niche of investing and for Canadians.

Want to know the crazy part? There are only three Canadian Business Podcast ahead of the Truth About Real Estate Investing including the CBC who has a lot more funding than I do. LOL. None of the three are about real estate so I’m just speechless.

Please do keep sending in your feedback, it does help me guide where we go with the show.

One consistent feedback we have been getting is how we much truth we are sharing on this show about failures, especially mine.  I’ve shared how I'm selling my now AirBnb as it doesn’t generate enough income above and beyond a long term rental and before that, it was a student rental that didn’t work out thanks to a mentally ill student tenant who was just a nightmare.

I’ve said it from the beginning, this is the Truth About Real Estate.  It’s not always perfect and many influencers out there do have an agenda to promote their businesses and as a marketer, you don’t want to share the scary parts and there isn’t really enough time for it in our format. 

However as the host of this show, I have a lot more talk time and to make it easy on myself, I speak off the cuff, unrehearsed, just telling it like it is.

In case you missed it, the property I offered for short term rental, didn’t work out for me hence I’m selling it to do some stocks with a goal to earn higher cash flow returns like my friend Adriano, my electrician from Etobicoke who earned $120,000 or 30% returns in his first year as a stock hacker.  I can’t thank Adriano enough for getting me off my ass to believe I could be an option trader too and he is the guest of this week’s show!

How An Electrician Learnt to Hack Stocks and Earn Six Figures From His Smart Phone with Adriano

Adriano is a wealth hacker, he operates a six figure business, owns a mid sized apartment building plus three other investment properties, and he’s a six figure stock hacker.

Adriano is also only a few years away from joining Canada’s top 1% of income earners.

Let that sink in. Someone who’s formal education is Electrician college and he will out earn 99 out of 100 Canadians.  I want the same as Adriano hence I’m selling one of my ten properties to fund this investment strategy. Call it diversity, call it a cash flow play, I just want for another six figure stream of income.

Adriano is mentored for Omar Khan and Matthew Todman, both past guest of this show from a 2-3 weeks ago. If you haven’t already, have a listen to those episodes after this one.

If you’d like to take a deeper dive, you will want to see Matthew and Omar present on Nov 9th at the Wealth Hacker Conference where we have some of the world’s leading experts on growing a business, investing in real estate and stocks.  Our keynote speaker is Grant Cardone who also has multiple streams of income totalling over $100 million in revenues and his real estate company manages 1.2 billion of real estate.

As a special bonus to fans of this show and those interested in learning how to hack stocks like Adriano the electrician, use the promo code stock when buying your ticket and we will send you an exclusive video of a private presentation Omar and Matthew and Adriano did for my members only iWIN group.  All you need to do is go to www.wealthhacker.ca and just before selecting what level ticket you want, click on the promo code blue hyperlink and enter stock.

Or use the direct link in the show notes: 

Link: https://wealthhacker.eventbrite.ca?discount=stock 

If you don’t like stocks, that’s ok, I didn’t either, I was almost wiped out in 2008 with my stocks.  The Truth is I chose very young companies, highly speculative ones that didn’t pay dividends. Now I only want to own the cream of the crop of blue chip companies with decades of track record paying dividends. Only boring stocks for me as I despise speculation and gambling.

Oct 5, 2019

On to this week’s show which has been a year in the making!

Rachel Oliver is an award-winning investor and co-host of Mothers of Real Estate TV Show. After 20 years in the corporate world, Rachel retired from the rat race to spend more time with her family and invest in Rent to Own properties. Today, she is affectionately known as the “cashflow queen” because she helps investors profit with Rent to Own properties — without headaches of being a landlord. She is also the author of an Amazon best-selling book Rent to Own Essential Guide for Homebuyers. Together with her husband (Mr. No), Rachel owns and operates Clover Properties, one of the most reputable Rent to Own companies in Ontario. Connect with Rachel at Rachel@RethinkRentals.com

Host notes: pay special attention to husband Mr. NO Neil Oliver’s role and how Rachel gets her leads, and their qualifying criteria. The Oliver’s are extremely good at what they do

Sep 28, 2019

This week’s guest is a real estate investor who received media attention east of Toronto.

Alex Kouramanis is real estate investor from Toronto, specializing in the Wholesale and Flipping strategies in markets throughout Ontario. He has been investing for over 6 years, with the last 2 years being full time. In addition to investing, he is an online educator on Udemy and Skillshare, teaching Real Estate Investment, Negotiation and Personal Finance. Alex also co-hosts the monthly meetup TREIA, the Toronto Real Estate Investors Association with his friend and partner Luc Boiron.

Sep 21, 2019

“Christian Szpilfogel started as a hobby investor in 2005 in the Ottawa area and, with Chaunei Chan, converted the hobby into a full time business in 2017. Originally they would acquire cash-flowing Multi Unit Residential (MUR) buildings and ride the market but this has been refined into a more focused forced appreciation strategy including MUR renovations, expansions and new builds. Their early days taught them the basics of property management and as their portfolio grew they have become much more sophisticated in the management of their properties and the more intricate aspects of tenant management, especially when they pick up distressed assets with troubled tenancies. They have applied a number sophisticated methods in property acquisition, advanced financing and credit techniques, property management and tenant management. While they predominantly focus on MURs they also have about 25% of their holdings in commercial units. Christian enjoys giving back to the community and is an active participant in various landlord support and networking groups.”

Sep 7, 2019

Speaking of short term rentals, Mr Sve Pavic uses AirBnb as part of his repertoire in his rental hacking.  He is the CEO of RentalHacker.com and LUX Rentals.

Sve’s a young man who’s already spent an extended period of time in Costa Rica with wife and young daughter while operating his rental portfolio from there.  What’s interesting about Sve’s story is how he’s implemented several strategies: rooming house, AirBnb, legal suites, mini hotel and he’s getting great rent by pushing the envelope with just a small number of properties. I think Sve’s story should give a lot of young people and those just starting out a lot of hope. Plus his use of automation in his management is impressive.  Get those pens and notepads ready! Without further ado, I give you Sve Pavic

Aug 24, 2019

On to this week’s guest!

Just wow, my mind is blown. I was introduced to Ryan Poole, Founder of Real Trade after I posted on Facebook in search of an expert on BlockChain and real estate and what do you know, Ryan’s Major Goal: To combine blockchain technology with real estate to revolutionize the real estate industry for the better and he’s rolling it out in phases including a globalized version of the MLS using Blockchain technology and a later phase for a Blockchain based currency called the Real to buy and sell real estate including fractional ownership of real estate. I’m probably not explaining it right so listen close to how Ryan explains it.

This is a very fascinating conversation I promise you.  Ryan is also a friend to Canadian’s as he helps Canadians buy real estate in Florida, we even chat about best places for a vacation home, how to finance it as I know you big time listeners can afford vacation property either now or in the near future :)

Aug 17, 2019

Hello fellow wealth hackers!!

How do you convince someone to invest in real estate?

This was a question I was asked while on a podcast which caught me off guard as I generally don’t try to convince anyone actively as I in I don’t tell someone to their face they should invest in real estate but maybe I should because that’s my exact advice to my family.

My cousin Christopher is about to turn 19 and he’s joining the Canadian Armed Forces. I couldn’t be more proud of him. Christopher is like a little brother to me and I’ve kept a close eye on him because we lost his father, my uncle too soon to stomach cancer just over ten years ago.

Christopher is a major gear head, he’s watched every episode of that popular TV show Top Gear five times each. His video game time is spent doing simulators of trains, planes, and automobiles. So naturally, he went to college to become a mechanic and in a few weeks, he will travel to Quebec for army basic training then Kingston for job training for 30 weeks.  Once he’s done training and is working, his salary is in the 60k range and he will get a full pension after 25 years of service. Not bad?

As a treat to Christopher, I allowed him to chauffeur my family and I around as part of his send off party in my new BMW.  He loves cars and driving fast but he said he can’t afford the payments. I agreed with him, he should never be paying so much for a car at his pay and how cars and houses are liabilities if they don’t make you income.

This is all beginner stuffs to all you listeners how if you’re going to buy a home to treat it like an investment: you’re buying for value, the property has value add opportunities whether it be renting out rooms or the basement or the garage or a parking space etc.... the location has amenities in demand, there is demand for both rental and resale. We covered all the basics and I told my cousin to rent and not buy his home but instead buy an investment property in Hamilton.  Why?

The armed forces has some wonderful subsidized housing and dining options. My cousin’s room and board and MEAL Plan is about $100 per week.  To me, that’s a no brainer for a single guy and because he could be transferred anywhere in Canada for work including poor investment towns, it make sense he invest where I can keep an eye on things, where he can adopt my real estate team to manage his property for him.  No need to reinvent the wheel.

That is my honest advice to my cousin in how I convince him to invest in real estate.

More generic advice for the starting investor is to invest within an hour drive of where you live. If your target area is too far, it makes management challenging and you are less likely to make that commute necessary to grow and manage your portfolio.  If you don’t invest where I invest, that’s totally cool, I have referrals for London, Kitchen/Waterloo/Cambridge, Barrie, in the East: Bowmanville, Oshawa, Peterborough, Lindsay, downtown Toronto with full service teams just like I have in Hamilton, Brantford, St. Catharines, and Niagara Region. 

This is your investment for your retirement or to fund your child’s education or a downpayment for their home. You don’t want to trust this process to just anyone, only settle for the best.

Speaking of the best, many of you have been asking for updates on our AirBnb property.  June was great as we grossed $4300 including HST but excluding cleaning fees as that expense is a pass through. Guests pay what we pay the cleaners so personally, I leave it out for this analysis.  We collected HST, AirBnb does not collect HST separately so it comes out of our revenues, and we pay HST on a bunch for cleaning, property management and all our operating expenses. We had lots of capital expenses and one party to clean up after so June was overall negative cash flow and we are ironing out the wrinkles with the property.  

In July we had a breaker fail.  The symptoms were: the 2nd floor lost power, flipping the breaker did nothing but it hummed when flipped on.  An emergency electrical service call was needed for $150. July generated the same revenue as July but without having so many capital costs, our expenses reduced by $1900.  For July we will positive cash flow about $1000 better than a single family. Keep in mind, summer months are better than other months of the year and as such, we were 90% occupied in the month of June and July. 

Our bookings are over 90% for the next 30 days which is great and fingers crossed we keep some momentum for September.  

Note this is just one of my properties and it made a lot of sense for this particular property to be an AirBnb.  The rest of our portfolio student rental and legal basement suites. My wife and I are professional investors so we do what makes most sense with each property.

We are wealth hackers and as such I’m starting stock option trading today. My friend Omar who owns over 30 properties is going to show me how.  Omar only works 30 minutes a day while options investing, he has more than me, works way less than I do and stock options is how he raised the majority of his downpayments to buy his 30+ investment properties.  Omar has been telling me to invest in stock options for almost two years and I didn’t really listen to him till I found out he taught my electrician who updated the electrical in my AirBnb to earn six figures in his first 12 months.  This I have to learn and I’ll provide updates here from time to time and I’ll have Omar and his business partner Matthew, both with 12 years experience options investing on an upcoming episode.

Omar and Matthew are wealth hackers and are speakers at our Nov 9th Wealth Hacker. Omar and Matthew have taught over 50 of their friends and family, funny enough, they’re all real estate investors too how to invest selling stock options. Omar makes a mid six figure income working a fraction of what I do hence we want to share this with the world.

Wealthhacker.ca for details and to get your tickets. Iamawealthhacker is my discount code for you.  November 9th at the Toronto Congress Center near Pearson Airport, all the best wealth hacks in real estate investment, stock option investing and starting a small business.  My friends Tom and Nick Karadza started a small business from zero and were awarded the Profit 500 award as one of the top 500 fastest growing companies in Canada for the last three years. www.wealthhacker.ca for more details and iamawealthhacker is my discount code for you listeners.

New Investor at Age 24, Working 3 Jobs, Lessons Learnt Buying First Property, Importance of Network and REI Friends with Joseph Costanza

On to this week’s guest, young Joseph Costanza who bought his very first property at the age of 24.  He’s a young hustler having a job since 16 and several side hustles as a bartender and landscaping. After graduating from university as an architect, Joseph was lucky enough to get a job in his field of study as an intern architect and quickly realized having a job did not translate into freedom hence he researched then decided on real estate.

After being referred to myself and my iWIN group, Joseph coached by Tammy Ditomaso on my team acquired his first rental property, a single family home he is turning into a house with legal basement apartment. 

Joseph is here to share his experience, the importance of surrounding oneself with like-minded people and has some tips on how to measure to produce drawings as part of the building permit process.  Joseph is an architect, hence he does his own drawings.

Aug 10, 2019

Hello Wealth Hackers and welcome to another episode of the truth about real estate investing.

Happy birthday to my partner in business and life Cherry Chan!! She’s a Super Woman in how she raises our kids, keeps me and my businesses in order and has her own thriving practice.

Quick funny story about Cherry: while she was still working in corporate, we were dating then and she would surf the MLS at work when bored (which was often) looking for investment property but she only owned her own home. After getting to know my business, we discussed investing in a student rental near Brock University in St. Catharines. My credit wasn't great at the time as I was a new agent so the house would be in Cherry's name.

I called Cherry while she was at work after I found a house in my target location, next to the only major mall in St. Catharines that doubled as a major public transit hub. I gave some vague details about the property to Cherry over the phone and we wrote the offer. We paid the owner exactly her asking as she was already discussing listing the house with a Realtor, the location and condition was A++ and any investor would want the same house because the annual rent would be over 1% of the after renovation value.

Cherry never saw the house till after we took possession and was happy with our purchase. The funny part was it wasn't till year after while reminiscing about how Cherry joint ventured on a property without ever seeing it, with her boyfriend she only knew less than a year but she wasn't concerned. Her contingency was if things didn't work out between us, she technically owned the house 🤣.

That was seven years ago. No different than our lives there were bumps, that basement flooded, a student snowboarded off the roof (he was on ODSP nonetheless) but otherwise it's been an excellent investment having doubled in value and the rents of gone up and zero vacancy the whole time.

Happy birthday again to my wealth hacker wife, to infinity and beyond. Together. 😘🥰😍

On to the subject on real estate

A kind gentleman who left a 5 star review on itunes asked me this: “my commute is 2 hours and I am taking courses to become a licensed real estate professional, what audio books would you recommend?”

My two cents: “If you're not first, you’re last” by Grant Cardone. The very same book, forms the teachings presented in part of Cardone University that he sells for a lot of money hence there is a lot of value in the book.  I generally find we can all improve our sales skills. Sales is not what most thing, the vast majority of sales people don’t take the profession as seriously as folks like yourselves do.  

No different than how the amateur invests in real estate vs. how a professional does.  If you’ve ever been a secret shopper as a tenant viewing properties for rent or for sale vs. toured our clients’ properties, you would see a big difference. Professionals invest more in their properties to attract the best tenants who pay the best rents knowing tenants all want clean and safe.  Invest more includes time and effort in marketing and screening tenants. If you read about tenant nightmare stories in the news, you’ll note the landlords never ran credit checks or a Naborly report on the prospective tenant.

You all know the hoops we must jump through to get a mortgage.  It would be advisable to screen tenants similarly as a bad tenant is a very expensive mistake when you are trusting them with a half a million dollar asset.

If you’re looking to get started in becoming a wealth hacker, someone on the most efficient path to building wealth, let us know.  We offer property tours in each of the top towns around the GTA which upcoming tours in Brantford and Collingwood.

We have the Wealth Hacker conference on Nov 9th, a master class on the most efficient paths to success in small business, real estate and stock options.  Go to www.wealthhacker.ca for details, discount code iamawealthhacker 

For those who are very serious about their success, we have my membership group called iWIN, short for the Infinity Wealth Investment Network.  We are a close knit group that meets monthly to share best practices on investing in real estate, staying up on the latest strategies. We meetup quarterly for a mastermind iWIN style, we do something fun together then we mastermind over a meal. So far this summer we did a Niagara Wine Tour on bike and a separate event on powerboats on a lake up north.  Both were followed by lunch and everyone had an amazing time networking with like minded people and coming away with actionable advice. For details, go to www.infinitywealth.ca 

Ex Financial Planner Now Multifamily Investing East of Toronto, Off Market Deals, Cap Rates and JV Structures with Sarah Coupland

On to this week’s guest, my friend who is a member of my mastermind group, Sarah Coupland of Tag Properties (www.tagproperties.ca

Sarah is a successful, multifamily real estate investor and one of the nicest people you will ever meet. In this interview, she took our virtual meet from her cottage afforded to her by her real estate businesses.

Sarah invests mostly where she lives, in Cobourg, Ontario where she owns several small multifamily properties.  Sarah shares how she got started and how her boyfriend now husband had to help her renovate her house if he wanted to see her (yay free labour!), she shares how she sources properties off market often buying the properties no one else wants for the best value add strategies, some crazy stories of police raiding one of her rental properties, her cap rates and show she structures the financials for joint venture partners.

Jul 27, 2019

Hello Wealth Hackers!!

 

If you missed the last episode, I shared how family and I were enjoying the weather on our back deck then we stood there powerless to watch a family of five skunks scramble to hide under my shed.

 

I love animals as much as the next person, I’ve had two dogs before, I teach my kids to respect all life, when an electrician was upgrade the service to my home, they left a space the size of a quarter in my wall leading to mice moving into my house. We live trapped over a dozen mice. Each morning I would get the kids all excited to check the live trap, they would ask if we could keep the mouse as a pet and the answer is no.  We would then release the mouse in the ravine as a family. As we kept catching mice, we got less ambitious and simply release the mice to our yard.

 

Anyways, to successfully get rid of the skunks, we didn’t hire professionals, if any of you are regularly having to hire folks to care for your properties, you know how the cost of labour is way up, we paid $100 for an appliance person to just look at my stove.  A fridge repair was $350… 

 

Back on topic, to get the skunks out, our fences and gates already keep out critters, it’s rare for me to find a rabbit in our rear yard but my kids left the gate open the night the skunks moved in.  So step 1 was to leave the gate open so the skunks could escape.

 

Step 2, as shown on my instagram I ran the hose to flood the space under my shelf

 

Step 3, I play kids song on repeat in the shed so the skunks would have no peace. Specifically “Old Macdonald had a farm….” 

 

Step 4, to check if the skunks were even still there, I placed a chunk of watermelon by the opening to the hole the skunks dug to see if they were still there.

 

Step 5, now day three, no sign or smell the skunks were still there, I blocked the opening with rocks.

 

It’s been a week and a half now and now sign of skunks but while I was running last night, I smelled skunk and if anyone was watching me, I looked like an idiot because I stopped cold in my tracks and ran off the sidewalk to the road to avoid the shadows and possible retribution from the skunk family.  I know I would be pissed off if sprayed with cold water and forced to listen to Old Mcdonald for 24hrs straight.

 

On a completely unrelated topic, we have my friend Ben Oosterveld back for now a third time to the show. If you don’t know Ben, he’s previously shared how he ran away from home when very young, lived on the streets and consumed all sorts of alcohol and drugs.

 

He’s since gotten his life together having gone on a binge of acquiring a 50+ investment properties in a short period of time, Ben is also among the highest performing Realtors I know personally having grossed over $800,000 in a year.

 

What sets Ben apart from most is his ability to wow people, let people know he cares.

 

For those of you out there looking to raise capital or build power teams of property managers, contractors, carpenters, etc… if you have a service based business which all of you landlords do: you are all what I call home service providers. Once you make the people you care about know how much you care, that makes doing business that much easier.

 

For those of you looking to level up your businesses, listen to what Ben does to wow his clients to apply to your own businesses because it works for Ben.

 

Without further ado, I give you Ben.

Jul 20, 2019

On to this week’s guest!!

She is not a real estate investor yet but she really wants to be but please don’t hate on her or my this podcast as she has many dynamo investors as best friends such as guests of this show Ian Szabo and Dion Beg, and maybe one day guest Brian Scrone who is a what I call, a centurian investor have owned over 100 investment properties in Florida.  

Why I brought Shauna on this show is because she is one of the most fascinating people I’ve ever met.  It is my belief that life is all about experiences and Shauna at whatever her age she is has 10X the life experiences of most.

One week she’s having lunch and planning a women’s conference with the Dutchess of York, the next week she flies to California for a meeting and charity concert with Maclemore, then it’s off to India for another major event planning session.  Shauna has hosted Gary V in front of 3,000 in Toronto, she’s hosting Sir Richard Branson in the next 12 months and expanding her events to Californation. But even more crazy is Shauna is going to 10X as she plans my event to host Grant Cardone :)

Funny enough, we investors all hustle and grind so we may one day travel more.  Shauna’s Haste and Hustle is so one day she may afford a down payment on an investment property and here is her story.

To follow up Shauna:

Website: https://www.hasteandhustle.com/
Instagram: https://www.instagram.com/hasteandhustle
Facebook:  https://www.facebook.com/groups/hasteandhustlers/

Jul 13, 2019

Onto this week’s guest, my friend, client, and my go to guy on construction.

This interview was triggered by hearing interviews on other podcast by beginner developers which is totally cool. Sharing is awesome and I wanted someone with mastery level experience to come on this show to share on developing and building houses.

That brings us to Steve Ford who has 12 years experience in construction and is a Project Supervisor for a local home builder having overseen the construction of over 800 houses.

Steve is a real estate investor as well having done rent to own and long-term buy and holds but is going next level in aggressively pursuing more active income by developing land and building houses via a strategy called in-fill development in which Steve explains on the show.

Steve is a wealth hacker and a good guy.  I give you Steve Ford.

To follow up with Steve:

Website: https://www.infilldevelopments.com/

Jul 6, 2019

On to this week’s guest!

For those with sights on bigger projects, Shane Melanson does exactly that! Shane started like many investors do with single family homes, did a few flips, progressed to commercial real estate including trailer parks, developing industrial condos and retail plazas.

Other than tackling these very large and complex 7-8 figure projects is Shane’s path to become a commercial expert and he’s here to share what triggered his investing, his career path before his first commercial investment and the mentorship he received along the way.

Also fascinating is how Shane structures joint venture investments with these large scale, capital intensive projects and % splits via general partner and limited partnerships.

To connect with Shane:

Jun 29, 2019

Do you golf?

I used to think golf was an inefficient use of time and poor exercise. I used to think of golf like fishing, or darts. It’s a great hobby to do with friends but my investor friends more and more have convinced me golf is great for networking and meeting fellow entrepreneurs so I bought a set of clubs and giving it go.

🏌️‍♂️But I suck at golf. Even w/ a few mulligans i shot at 139 including at 76 on the back nine at the lovely Hamilton Golf and Country Club this past Friday. Thank you to Charles Wah for inviting me out.

I suck at many things, Golf especially as I only golf 18 holes once per year but now I want to learn so I set aside time to practice, learn, I took a lesson and will take even more.

Trying new things is a challenge and as a teacher of #investinginrealestate I can draw parallels on the most direct path to success:

1️⃣ do it with friends: I’m golfing with friends who happen to be successful entrepreneurs including my wife. This makes the experience and journey that much more fun. Tomorrow I’m golfing with a successful stock investor who sells options and owns 60 units of investment real estate. His name is Omar and he’s teaching me to trade and he will be one of our speakers at the Wealth Hacker Conference in Toronto on November 9th.  Omar made $500,000 in 2018 from utilizing a little known strategy and has made a living doing so for over a decade.

2️⃣ take lessons: you don’t know what you don’t know so take advice from a professional who is who you want to be and has a track record of successfully coaching others to success.  Almost every investor I meet wants cash flow and that’s pretty much impossible to do where the live so they are relying on local experts to guide them to the correct investment decisions.

3️⃣Don’t be afraid to try new things, five or ten years from you will look back and laugh how you started from the bottom now you’re here. None of my multimillionaire clients expected to be here so fast in five-seven years. the next five-ten years will go by no matter what, how you spend them or rather invest in them is what will matter most.  With excellent guidance and coaching, you can really minimize your mistakes and maximize your returns.

Reach out if you don’t know how to get started as a may suck at golf but few others have a system and team of coaches that produces #realestatemillionaires like we do.

This episode is brought to you by iWIN’s Wealth Hacker Conference:

On November 9th, 2019 at the Toronto Congress Center, we will be sharing the best secrets of the rich including:

  • 10X mindset
  • Six figure income, 15 mins per day, options trading from your phone
  • Earning income like the bank passively, better returns and more stable than the stock market by private lending
  • Investing in real estate: apartment buildings, raising capital, AirBnb, student rentals, accessory apartments, land development
  • And so much more as we confirm more Wealth Hacker experts who do, no theory BS

Tickets are on sale now at: www.wealthhacker.ca and don’t delay, prices are going up and if you want VIP, we only have 100 of them and they will sell out first.

Increasing rent $1,000 w/ Middle Term Rentals; Student Rentals, Trampoline Park, Mother of Four w/ Gillian Irving

On to this week’s show! Mother of Real Estate Gillian Irving is an old friend, client, mother of four who had life pretty good yet decided to go next level, hire a real estate coach and buy a bunch of houses focusing mainly on student rentals.  She also started her own successful 36,000 square foot trampoline park, she’s had her own TV show on Rogers, and Gillian shares the story of our first meeting and how she bought a property that same day. It’s been a cash flow gem and nearly doubled in price in less than five years.  It goes to show Gillian’s preparation for action!!

Gillian was also kind enough to share her worst investment story in a large syndicated mortgage that included losses for her and those close to her.  That is the Truth About Real Estate, not all investments are winners, this show is about sharing lessons including from losses so you may win in all of your investments.

To connect with Gillian:

Website: http://investinstudentrentals.com/
Training course: http://www.mothersofrealestate.com/
Facebook: https://www.facebook.com/gillian.irving.79
Skyzone Trampoline Park: https://www.skyzone.com/ca-whitby

Jun 22, 2019

Congratulations Toronto and Canada, we are the champions!! We did it!!

History was made so I may have taken more liberties than I normally do in my conservative, boring life.  I like boring, I like being at home and going to bed early, and I’m glad life can finally get back to normal with less late nights and stress replaced by more family time, more sleep, more martials arts and Crossfit.  Life isn’t always boring though, I’m getting a new car soon next week my challenge to my mastermind group was to CN Tower Edgewalk, that’s walking around the outside of CN Tower at 1,168 feet high or 116 storeys. Nothing beats a low risk thrill for team building followed by a mastermind lunch in the 360 Restaurant for blue sky dreaming ideas of wealth hacking.

Speaking of Wealth Hacking, while I scroll through the pictures on my phone from the last week its been busy:

  • Our AirBnb is rocking, a single family home we would normally rent for $2,000 has booked $4,600 on AirBnb for June only, we are 77% booked so we can definitely break $5,000. I’m preparing a presentation right now actually for iWIN members tomorrow night to share how we arrived at this point with all the automation, apps, technology, hardware etc… as I didn’t lift a finger.
  • Cherry and I attend an Entrepreneur Bootcamp for two whole days and I have many takeaways around apps, scheduling, and scaling businesses
  • Sadly I missed a few hours of the 2nd day as we were out late the night before celebrating history as our Toronto Raptors won the championship.  We sent a video of apology to our hosts as we were cheersing tequila shots. They understand. This is history and life is all about experiences. We didn’t get in till the sun was coming up and I won’t be doing that again for a while.
  • Saturday was another loaded day as the kids had the day off from Chinese School and I was teaching my oldest to ride a bigger bike.  It’s really interesting to practice influence skills on a five year old, she resisted and wanted her old bike but she’s a champ and now only wants her new bike.
  • From there is was my clients’ open house of their new build, two semi detached houses, each with basement apartments. I’ll have the Steve Ford, one of the investors on this project on this podcast shortly to explain the ins and outs of new construction.  He’s a project manager for a major builder and an expert in construction. As always, we will bring you experts on this show. There is nothing wrong with just starting out but those starting out should not be offering coaching services. Just saying.
  • For some background on these new builds, my clients bought two houses: one a single family, the other a duplex, severed the backyards and built two more houses, each with a basement suite.  Each new build is rented for $3,400 plus utilities and over $10,000 in rent for these now seven units. This is next level investing so stay tuned for Steve Ford!

This episode is brought to you by iWIN’s Wealth Hacker Conference:

On November 9th, 2019 at the Toronto Congress Center, we will be sharing the best secrets of the rich including:

  • 10X mindset
  • Six figure income, 15 mins per day, options trading from your phone
  • Earning income like the bank passively, better returns and more stable than the stock market by private lending
  • Investing in real estate: apartment buildings, raising capital, AirBnb, student rentals, accessory apartments, land development
  • And so much more as we confirm more Wealth Hacker experts who do, no theory BS

Tickets are on sale now at: www.wealthhacker.ca and don’t delay, prices are going up and if you want VIP, we only have 100 of them and they will sell out first.

www.wealthhacker.ca if you’re interested in the best side hustle and income replacement opportunities.

November 9th we have the rich and successful sharing their secrets on how they became rich and successful. You don’t want to miss this event.

Police Officer Dave Knight Says You Have The Right, No, A Duty To Build Your Wealth

On to this week’s show!

Officer Dave Knight is a friend, an investor, client of ours, fellow podcaster of the First Responder Wealth Network spreading the word how even for those with a pension, people need more, especially for those who risk their personal safety everyday to protect all of us.

Dave is also a bigger fan and student of Grant Cardone having taken some of his masterminds and apartment building investing mastery classes delivered by Grant himself. Dave also has insights into Grant’s strategy and lessons as to what goes into his over $1 billion dollar assets under management portfolio.  This was totally not what I expected.

Have a listen, buy a timmies for a first responder when you see them in line and I proudly give you officer Dave Knight.

 
Jun 15, 2019

Have you been following the Raptors? Secretly I’m hoping all the hoopla ends soon so my early to bed lifestyle can get back to normal :)

Speaking of Raptors, my all time favourite Raptor player Vince Carter has some kinda words to share about our upcoming Wealth Hacker Conference.

Like Vince says, we including the leader of the 10X movement, Grant Cardone.  On November 9th, 2019 at the Toronto Congress Center, we will be sharing the best secrets of the rich including:

  • 10X mindset
  • Six figure income, 15 mins per day, options trading from your phone
  • Earning income like the bank passively, better returns and more stable than the stock market by private lending
  • Investing in real estate: apartment buildings, raising capital, AirBnb, student rentals, accessory apartments, land development
  • And so much more as we confirm more Wealth Hacker experts who do, no theory BS

Tickets are on sale now at: www.wealthhacker.ca and don’t delay, prices are going up and if you want VIP, we only have 100 of them and they will sell out first.

www.wealthhacker.ca if you’re interested in the best side hustle and income replacement opportunities.

$100 Million Portfolio To Almost Broke, The Myth of More, RRSP Secrets with Greg Habstritt

This week’s guest after a four-five year hiatus from the public spotlight is Greg Habstritt.

Greg has spoken on many of the biggest stagest in the world of entrepreneurship including 10X for T Harv Ecker, Dan Kennedy’s Super Conference plus hosting his on his own stage: Sir Richard Branson (Virgin), Dali Lama, Stephen Covey (author of 7 Habits of Highly Effective People), Brendan Burchard.

Prior to 2010, every attendee to entrepreneur or real estate workshops and related social media knew and admired Greg then he gave it all up and he’s here sharing his truths about real estate investing including amassing a portfolio of over $100 million to almost going broke twice, why he gave up his coaching business and his current focus.

Jun 8, 2019

Hello wealth hacker nation!

As our regulars know, I converted one of my single family homes from being rented to students to AirBnb after an awful experience with one tenant and then dealing with the pro tenant, Landlord Tenant Board Tribunal.

Good friends of mine who have much experience with short term rentals told me how great the tenant profile is vs. long term tenants.  Guests of short term rentals or STR’s for short are happy because they have vacation, they have budget otherwise they wouldn’t be taking vacation. My property is inspected more frequently as my cleaners are there every week to inspect of maintenance and damage plus damages are paid for by the guest via their damage deposit vs. a long term rental landlord has to collect themselves, come out of pocket, possibly go to small claims court, put the tenant into collections, possibly not get paid, etc…

So is the grass greener on the other side? We will see but so far in less than 72 hours we have $3500 expected revenue for the month of June. Note that’s inclusive of HST, our first guest arrive yesterday and we had our first complaint already, LOL.  Our grass is too long as the grass growing conditions have been perfect and as a student rental, we had the house mowed every two weeks.

Note I raised the rent for this weekend from $250/night to $850/night because the Canadian Golf Championship is in town so the rent is high but the lesson is to be aware of your market!! Many of my friends with STR’s did not adjust their rents as they weren’t aware of this major tourist event.  Fun useless fact of the day, my guests who booked golf week are from Florida.

FYI - the upfront investment is significant for time and capital to prepare a house for rent but I outsourced it all from renovations, cleaners, Property Management, furnishing the house, all of it and I’ll be sharing how we did things from beginning to end at a future iWIN members meeting plus all the technology involved to make the process completely automated.

This episode is sponsored by our Wealth Hacker Conference on November 9 and just announced is our venue: the Toronto Congress Center - North Building next to Pearson Airport in Toronto.  We also announce Pierre Paul Turgeon as one of our many Wealth Hacking Speakers. Pierre Paul is an old friend, the best teacher of apartment building investing and he grew his own portfolio from zero to 22 million in only a few years.  He walks the walk and talks the talk and he’s a good person as he donated several of his apartments to those who lost their homes in the Fort McMurray Fires in Alberta just a few years ago.

Our keynote speaker is none other than New York Times Best Selling Author and leader of the 10X movement, owner of Cardone Capital with over $1 billion in real estate under management, our #1 pick and ultimate Wealth Hacker Grant Cardone.

To register go to www.wealthhacker.ca, the sooner you register the better the ticket and better the price so please don’t delay, like many iWIN events, this one will sell out too.

 

 

On to this week’s guest who is less experienced to investing. This all started when I posted on Facebook that we can make any investor who is ready and willing successful as we have 15 millionaire clients who we directly assisted with their investments.  They seriously come from all walks of life. I’ll detail in a future episode some interesting statistics and observations of these millionaires.

Anyways, Joel Arndt sent me a direct message or as the young people call them, DM’s, if my statement was true and if he could ask me some questions.  He shared his back story, Joel actually goes to Church with one of our super star clients and past guest of this show Evelyn and though they knew each other have taken completely different paths.

Anyways, I asked Joel if we could record our Ask Erwin Anything session for all to share as I know we have many young listeners and folks looking to switch careers or learn about investing for a side hustle and he agreed and here is the interview.

I give you Joel Arndt.

Jun 1, 2019

What does work/life balance mean to you?

I make it no secret that I take Sunday’s off as Sunday is recovery from Raptors Game 6 Series clincher AND Sunday Family Day!! For all you entrepreneurs out there seeking balance I have no idea what balance is. What I do know is no one likes working on Sundays so it’s a good day to take off.

Note I’ve been a young hustler for over a decade and my business and investments keep working on Sunday’s and statutory holidays so I don’t always have to work. If I do need to check on a property, I’ll bring the kids as it’s part of their education and inheritance.

Going to school will get them a job. Learning to invest in real estate let’s them level up, turn down promotions for little pay, more responsibility and worse more hours so they can spend time with my grandchildren. To me that’s balance and the definition of wealth.

When my kids look back, other than being wildly embarrassed by my antics and silliness, I hope they remember they are a priority for me.

ICYMI (in case you missed it)

 

Our next speaker for iWIN’s Wealth Hacker Conference Nov 9th is...

 

We identified this speaker as the top educator in the area of multi-family (5 units and above) investing during our brainstorming phase and he just agreed to participate.

 

Pierre-Paul Turgeon is Canada’s leading authority and insider when it comes to investing in apartment buildings because of his unique perspective on this type of investment.

 

https://www.youtube.com/watch?v=Qin5AmB1KIc

 

He is a former CMHC multi-family underwriter (he analyzed the risks for an insurance proposal) and a full time multi-family investor with a portfolio of 160 doors valued in excess of $22M. As a former CMHC apartment building underwriter, he has analyzed hundreds of apartment deals in three provinces and three territories. He has analyzed more apartment buildings than most of the largest landlords in the country. Not only is he familiar with the front end of buying apartment buildings, he is also very knowledgeable about the back-end of this business (that is, when apartment deals go sour and investors default on their loan), as he also managed the default management department in CMHC’s Prairie office.

 

This wealth of knowledge and experience enables Pierre-Paul to invest in apartments buildings strategically to ensure a sound return for his investors with low risks.

 

To register for the waitlist to get advance access to tickets at early bird pricing go here: https://www.wealthhacker.ca

 

This week’s guest is….

 

Before I introduce this week’s guest, we just passed 100 episodes which is crazy.

 

What started as a six episode experiment, I was a never wreck with nonsensical questions for my guests, I’ll always Remember asking Julie Broad if she drank coffee or tea.  Her response was do people really want to know?

 

Time went on, it’s been three and a half years now. It’s insane to me how a niche Canadian content only podcast made the top 60 on all of iTunes in the investment category so I want to take a moment to say thank you to all my listeners, my guests, especially my favourite guests many of whom dropped bombs on this podcast publicly for the very first time.

 

One was kicked out of home for substance abuse as a young teenager and lived on the streets for years only to turn it around and now they are super successful and rich.

 

Another lost her parents as a young teen and became homeless only to become on of the top coaches in our industry and is wealthy and successful.

 

Many have shared how they overcame overwhelming odds, Tahani, born in a refuge camp, came to Canada for an arranged marriage only to become a single mom, barely speaking english to go on to become one of the wealthiest people I know.

 

Jules Mckenzie, an “Indian” as he refers to himself born and raised on a reserve was told he was worthless by his teachers, then to have a challenging job of a police officer on the reserve, many dark days, failed investments only to turn it around and become wealthy.

 

To celebrate 100 episodes, I’ve reached out to several of our most popular guests for updates plus for fun a few centurian investors: investors who have owned 100 or more properties to learn their lessons so we too may learn to invest like the best of the best.

 

First off, we have my friend John Roumanis, an old friend now who owns lots of property but also the honour of having our most downloaded episode.

 

John is very well educated: MBA, CPA. He even teaches at a local college for fun. He manages tons of people at work, Canada’s largest coffee producer, he’s really smart too as a conservative stock investor choosing value plays for blue chip companies that pay dividends. He’s also really smart for choosing me to help him make close to $1million in real estate, all part time in only eight years. If you want help build and grow a real estate portfolio let me know.

May 25, 2019

Did you hear about the major happenings this week?  The Toronto Raptors won back to back home games in the NBA Playoffs vs. the Goliath like Milwaukee Bucks.  My wife got us tickets and took me out for date night and it was awesome.

In other big awesome news, I was finally allowed to share our big fat secret I’ve been dying to share for the last three weeks.  That’s when we signed our keynote speaker for Nov 9th’s iWIN Wealth Hacker Conference. He is none other than New York Times Best Seller, the man who sells out stadiums of over 30,000, the top sales trainer and real estate investor whose company owns over 1 billion dollars worth of real estate, mr 10X himself, Grant Cardone.

Which brings us to this month’s sponsor of the show. iWIN’s Wealth Hacker Conference.

This all started with me putting on a free training event, I told Cherry and she wasn’t impressed.  Free stuffs are not appreciated nor valued, as the saying goes “those who pay, pay attention.”

Next iteration was a 30 person event in a library or something, then we applied 10X thinking: how about a 200 person plus paid event and I’ll reach out to some of my expert friends.

Then we had an idea to hire a celebrity keynote speaker, someone from my favourite CBC business reality show.  Around this time, we hired an event planner then our thinking grew another 10X. Together we did some blue sky brainstorming: who is the most in demand speaker in the world of entrepreneurship?

And we got him. Uncle G, Mr 10X, Grant Cardone is our keynote speaker for iWIN’s Wealth Hacker Conference this November 9th in Toronto.

Our objective for the attendees to walk away knowing they can take control of their financial future and we will give them the tools to become a wealth hacker: investors who can profit and thrive in any market and not just in real estate, we will experts share about blockchain/cryptocurrency, cannabis and options trading as well.

As always with iIWN events, the networking alone will be worth the price of admission.

We are still working out details for the events including venue and ticket prices but we have opened a waitlist at www.wealthhacker.ca. Friends on the waitlist will have first dibs on tickets at early bird pricing including VIP tickets for the best seats and the opportunity to meet my friend Grant and have your picture taken with him.

Again that’s www.wealthhacker.ca to register for access to early bird pricing and availability of tickets before the public plus we will announce speakers to the waitlist first.

Active Investing Vs Pre-Construction Investing, Doubling Investments Before Closing with Todor Yordanov

On to this week’s guest, my old friend Todor Yordanov, he’s the first REIN member I ever met.

I first met Todor at a meetup at a Tim Horton’s back in 2008 before anyone knew what a meetup was.  This was back in day when email distribution lists were how we communicated. A bunch of Hamilton investors organizing and communicating over an email list of like 50 people.

When I met Todor, he was investing in condos: specifically townhouse condos in Hamilton because they suit this rule 8-12%: the annual rent had to be 8-12% of the purchase price plus improvements.  Todor wasn’t the only one following this strategy as this was what we were taught. These houses cash flowed but in hindsight, the tenant profile was not a good one and the condo fees were inflating at about 15% per year.  The truth about real estate is when condo fees go up out of control, it negatively affects affordability and in turn the resale price.

Anyways Todor next invested in student rentals but now his focus is on condos in Toronto especially condos known as pre-construction meaning builders selling apartments in a high rise building before they are built.  The strategy works for Todor as it suits his lifestyle and passive investment preference.

May 17, 2019

This is the biggest, craziest thing I’ve ever done.

Bigger than buying a house without conditions, without seeing it, without my wife’s permission while we had another house vacant and undergoing renovations.

The feeling is more like that combined with skydiving, bungee jumping, hangliding, competing in martial arts, and public speaking in front of 600+ investors.

Everything I’ve done in my life and career has been building up to this moment and I’m grateful for my team and most importantly, my wife Cherry who has been my partner in this process and putting this event together.

I honestly tell her about these crazy ideas I have and she applies her critical thinking about how we make it happen.  What am I talking about?

These times we live in are hard. Housing affordability is the #1 or 2 issue all across Canada. Canadians without pensions are faced with working into their 70s or 80s to afford retirement. If you’re a parent or grandparent, you have to be worried about how the next generation can get a job let alone move out and buy a home.

If you work in corporate, are you getting ahead in life? Do you really want to keep working till your 70’s or 80’s or would you prefer to make money in your sleep?

I’ve been there, I worked in technology and survived two rounds of layoffs, once during the recession and again when our company was acquired.  I’m survived only to see my friends: mom’s and dad’s walked out by HR, folks with bills, mouths to feed and mortgages to pay, grateful I survived but  wondering when it was going to be my turn.

What is one to do about it?  Become a Wealth Hacker. Learn to make money in your sleep in any market. Take control of your financial future.

November 9th, 2019 is iWIN’s Wealth Hacker Conference and we have a massive, massive keynote speaker we just signed a wired a bunch of money to bring him to Toronto.

You may or may not have heard of him.

He is a New York Times best selling author

His limited partnership fund invested in real estate has over $1 billion in assets under management

He is one of the top top sales trainers in the world

Cherry and I along with numerous Canadians flew down to Miami to his conference, hosted in a sold out baseball stadium of 35,000 attendees.  Cherry and I were thoroughly impressed hence we brought him back to the great north for you all to enjoy.

His books are titled “If You’re Not First, You’re Last,” “Be Obsessed or Average” and “10X”

He is the man, the legend, Grant Cardone.

Grant reminds us all we are all capable of greatness, “SUCCESS IS YOUR DUTY, OBLIGATION, RESPONSIBILITY.” ~ Grant Cardone

Grant is our #1 overall pick as iWIN continues to bring the best speakers and education so you all can take control of your financial futures, take care of yourselves and loved ones. To become Wealth Hackers.

If you’re interested in attending on Nov 9th, iWIN’s Wealth Hacker Conference, the cheapest and fastest way is to get on our waitlist at www.WealthHacker.ca for the first 100 registrants who will benefit from having first access to tickets at early bird pricing.  This is your least expensive option to get tickets especially the VIP tickets as we are very limited and always the first to sell out.

www.WealthHacker.ca

Take responsibility for your financial future, we will give you the tools on Nov 9th in Toronto.

Financing Market Update, Financing Vacation Properties, Heart Attack by 39 With The Best Mortgage Broker Dave Butler

This week’s guest:

The recording is from late March and right after Trudeau’s announcement on how CMHC will help out new home buyers.  Unfortunately Dave didn’t have a chance to do a full review as he literally just got off a plane returning home from vacation but here are my two cents…

I’m really interested in knowing how the government plans on funding this program, FYI the deficit is huge and ever expanding under this government.  What is the repayment plan going to look like and do I really want the government owning a piece of my real estate?

More questions than actual insight but the truth about real estate is this.  Every time the government introduces new legislation around real estate, the market goes nuts.  In this case, I’d expect a buying frenzy when the new CMHC program goes live in the fall so if you’re actively growing your portfolio, I would buy sooner than later to avoid a buying frenzy starts.

Back to our guest who is Dave Butler of Butler Mortgages, the #1 Mortgage Brokerage in Canada and my personal Mortgage Broker. I’ve always been a fan of working with the best of the best which is why I work with Dave and Dan Patton and team.

Dave is crazy successful but he also paid the price of living as a workaholic, smoking, being overweight and pulling off 400 something all nighters resulting in a heart attack at the age of 39.

Please let this all be a lesson. If you have an inkling of a heart attack: pain, short of breath and discomfort, call 911.

Thankfully Dave is still alive and kicking to be here sharing on this podcast.

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