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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: June, 2019
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.

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