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.
Hello fellow Wealth Hackers!
I thought I would have more time. More time to enjoy my kids especially my daughter before she grows up. Then I find out from Cherry my daughter has her eye on two boys from her class and two other boys have expressed their interest in her. She’s five years old about to turn six.
The great thing about turning six is she’s now old enough for Brazillian Jiu Jitsu classes so I’m more motivated than ever to enroll her. Brazillian Jiu Jitsu or BJJ for short is a martial art, a main staple of the UFC and MMA because of it’s effectiveness and reliance on leverage over size, strength and athleticism. A great analogy for how to run a business or real estate portfolio: efficiency and leverage.
The scheduling is a bit challenging as our club’s classes are on Mondays and Fridays at 5pm but at least they’re only 15 mins away and its not all the equipment, travel, costs of hockey. Thankfully, as a wealth hacker, Cherry and I for the most part have control of our schedules without long commutes.
To stir the pot, Cherry informed all four boys from my daughters class are invited to her birthday party.
Now here’s an inside look at how nutty my mind works. I’m going to plan future birthday parties for my daughter at the BJJ club. Why? Because I figure if kids know my daughter can take care of herself then the bullies will think twice 😊
Planning ahead is big for Cherry and I. It’s why we invest in real estate, invest in ourselves and in our business. Speaking of planning ahead, we’re already planning for the Wealth Hacker Conference of 2020. Thank you everyone who provided their input on who would rock your world as a keynote speaker, we have offers out and will hopefully have an announcement soon to coincide with the release of early bird tickets at early bird prices.
Do stay tuned here and my email newsletter, if you’re not already on it, well that’s just silly as you can stay informed when we are offering training classes, street smart tours, special promotions, and notified when new episodes of this podcast come out.
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Top Producing - Real Estate Investor - Elite Trainer – Mortgage Broker, Mortgage Alliance. Most importantly she was the lead sponsor of the Wealth Hacker Conference 2019 so obviously she has great taste!!!
Claire has been an active member of the mortgage and real estate investing industry for more than 30 years. She has experience from all sides of the industry, from managing over 140 properties in Spain, to growing her own successful mortgage brokering business in Canada. She has consistently been in the top 1% nationally with Mortgage Alliance, and recently has grown a team of agents, The Windrose Group.
Claire has a passion for educating and sharing her expertise, from new investors to sophisticated landlords. Claire and her specialized Windrose Group Investor Team specialize in helping real estate investors develop a comprehensive strategy from purchasing their first property to their hundredth.
The Windrose Group team focuses include cost of funds, asset protection, minimizing tax burdens, aligning acquisitions and exit strategies together with ensuring access to cash. According to Claire CASH IS KING! Claire loves sharing little know secrets such as being the banker with RSP’s, LIRA’s and TFSA’s or wholesaling strategies for those with no capital. Claire guides her clients through their entire investment strategy whether you are a newbie or long-term investor!
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.