On to this week’s show!! We have a special guest in Evelyn Lamarsh.
Evelyn who was on stage in front of almost 1,600 at the Wealth Hacker Conference and one of my first clients emailed me this morning: "Hey Erwin, Just for fun I keep track of my total rents paid over the years. As of this year, tenants have happily paid me over one million dollars in gross rents! 🙂"
Whenever I hear people tell me their reasons they can’t or don’t invest, I think of this 26 year old, single woman will a small amount of life savings pushed herself out of her comfort zone and bought a century home with a spotty roof, leaky basement, knob and tube wiring, in a historically rough area, and a street that shared the same address as many of the steel mills in Hamilton.
Evelyn had the courage to push through all the reasons in her head why she shouldn’t buy this house, I’m sure many non investors told her she was crazy and she did it anyways. For those who invest in the West Harbour of Hamilton know how history went, that same house has nearly tripled in value and this is Evelyn’s story via flash back to this episode we recorded in 2016. She’s since acquired more houses for a total of ten with plans for more in 2020. More importantly, husband Mike was able to retire as a car mechanic to work a 15 hour work week to maintain the properties and spend lots of time with their two young kids.
This is the truth about real estate: a 26 year old girl, on her own, can go onto accumulate a portfolio of ten cash flowing properties. I proudly present to you, our super star client Evelyn Lamarsh.
This week’s guest is my friend Andrew Hines and this is a great episode. We talk about developing real estate and where the development market is going, high end student rentals, how Andrew didn’t have to invest in disaster properties to receive great price appreciation, the importance of having a great mentor, borrowing private money to invest with. Again, a great episode.
Andrew Hines is a real estate investor from Burlington Ontario and he's primarily invested in London Ontario. As of the time of publishing this interview Andrew has a approximately $4,000,000 in real estate holdings and is the host of The Andrew Hines Real Estate Investing Podcast.
Andrew advocates the use of the BRRRR method to achieve financial independence and he has become quite proficient in construction management, building and development due to his value-add approach to real estate investing.
Andrew owns several companies, including a construction general contractor, and has built out multiple investment property units in Southwestern Ontario Canada.