On to this week’s guest, my friend, client, iWIN member, real estate investor, Captain Manny Cabral. He’s a great guy, for years he owned and operated a large scale construction company that even took on government contracts. One day Manny hurt his back and got a desk job running a car dealership. Manny loves cars and he’s got some good stories to share as he turned his passion into a successful side hustle importing luxury sports cars.
Manny eventually made the leap to leave his great job to be full time in contracting and investing in real estate. What I really enjoy about Manny’s application of buying private sales is even doesn’t squeeze the seller for every last dime and instead shares what price he needs for the deal to make sense for the work and risk he’s assuming. So without further do, I give you Manny Cabral of Simcoe House Buyers.
On the real estate front, can we stand down the red alert on real estate?
Not to say challenges are not ahead but much more is known about the problems we as real estate investors face compared to two months ago pre-march break.
Commercial is a sore spot both residential and non residential. Student rentals will be a challenge as McGill and UBC announced many classes will be online. What that means for our student tenants remains to be seen as many programs require labs, group work, in hospital rotations, etc…
For tenants who are looking to rent something, the timing couldn’t be much better. Same for those who have cash and credit to buy. There will always be opportunities for some so take advantage while you can. For example, I have a family member looking to sell a starter home in the suburbs and buy a bigger condo downtown Toronto. The timing could not be better. Again, opportunity will always come to those who know where to find it.
Speaking of chasing opportunities, we have a legit wealth hacker as our guest on this week’s show in Tim Hong.
Tim house hacked his first home, a 2+1 bedroom condo by renting out 1+1 bedrooms to students as his first taste of investing in real estate, then did rent to owns, an apartment building, student rentals, got licensed in real estate and coaches investors, started a property management business, had a tenant offer non monetary rent compensation, I’ll let Tim explain that, and Tim’s has been trading foreign exchange currencies for 5+ years. How’s that for a wealth hacker? I’ve also convinced Tim to do some stock hacking with his TFSA’s 😊. If there is an efficient means to make income, Tim is into it.
Tim is also a coach on my team at IWIN Real Estate and has been with me since I can’t remember, maybe 2012? It’s been a long time and without further ado, I give you Tim Hong.
On to this week’s show!
We have with us today real estate investor and private lending specialist Susan Flanagan!
Susan Flanagan is a seasoned real estate investor of over 25 years’ experience. She has done everything from regular buy and holds, student rentals, rent to own, flips and along the way added creative financing strategies to build her portfolio.
She has also been lending her own funds for mortgages for more than 12 years, as well as using private funds for her various real estate projects. That experience has led her to becoming a Mortgage Agent and then a Mortgage Broker, specializing in "Private Money 4 Mortgages" which is also the name of her website.
Susan services two types of clients.... the person who needs a Private Mortgage and the Investor who has money to lend out for a mortgage.
She considers herself a “matchmaker”, connecting lender’s and borrower’s for a WIN-WIN scenario.
On to this week’s show!
As a real estate nerd, I do enjoy reviewing real estate market stats however, we wealth hackers know, the stats are great for general consumption however none of us are investing in average real estate and the smart money invests in investment grade real estate. This is why I reached out to some of the best Investor agents I know in the top markets for investing just outside the GTA since we all focus primarily on cash flow.
On this market update show we have agents from London in the west, Justin Konikow of Prime Real Estate, Rob Break who works the same real estate brokerage I do, Rock Star Real Estate all the way from the East in Durham and Peterborough, most of you know him from the Break Through Podcast.
To the great white north of Barrie, we have John Beddome.
Representing Kitchener, Waterloo, and Cambridge, from my own iWIN Real Estate Team: Tim Hong.
And finally, the duplex queen, from Hamilton, Tammy Ditomaso.
To me this episode is a special treat as these are the agents I call when I want to know what’s going on, on the street in regards to real estate for investors. There is a lot of fear out there which is why I brought this group together to update you all on what’s happening on the front lines of real estate and property management.
I hope you enjoy the show! Without further ado, I give you Justin, John, Rob, Tim and Tammy!