We have the founder of Property Technology company Viler Lika on the show. He is the founder and CEO of SingleKey and if you haven’t heard of them yet you will want to pay attention to this show as in my experience, they are providing us investors a ton of value at affordable prices. SingleKey is the largest tenant screening service out there with their recent acquisition of Naborly.
The majority of the professional investors I know are already using their tenant screening aka credit checking online software as it’s fast, cheap, encrypted, and the reports written in plain english. Even our big local REIT uses SingleKey.
Viler is super smart having both degrees in Engineering and MBA from the same Business school I graduated from at Western University in London. On today’s show, Viler shares his journey of starting up a real estate technology business that brought us small investors the same tools the big corporate REIT’s use.
SingleKey will even underwriter insurance on the tenant which can be purchased by the landlord OR the tenant. How amazing is that? The rental market is highly competitive is most medium/major cities. If I had to enter a bidding competition to rent a place, I would insure my rent to set myself apart from the others.
Viler is also kind enough to share what features are coming in just a few months to forever change how we screen non Canadians and report tenant rents on their credit/Equifax.
This is not an episode to be missed. Please enjoy the show!
As a bonus Viler was kind enough to provide us a discount code “erwin” my name, a five letter word for 20% off a tenant screening, background report that also works on Americans. I’ve included a link in the show notes!
20% off discount code:
We have Ben Bergen who has acquired 14 properties over a short period of time and has the scars to prove it! Ben is a graduate of one of those many $13,000 per year group coaching programs, spent close to $50,000 and in his words he grew too fast, too soon, ego driven, nearly lost his shirt when he had 3.5 major renovation projects on the go.
My observation is if not for Ben’s own sweat, hard work on the tools as he is in construction, he would have ended up bankrupt like some of his coaches and fellow students. In the business world Ben filled both the visionary and integrator role. If his business was Apple, he was both Steve Jobs AND Tim Cook or Steve Wozniak. As in Jobs could sell big dreams, raise capital but Steve Wozniak had to build the actual computers or Tim Cook had to make the Operations as smooth and efficient as possible.
In my study of failed real estate investors, they were incredible at raising capital, their influencer marketing was expert level BUT they could not execute on their vision of on time renovations, on budget in a challenging environment both in construction AND the truth about real estate that no one is talking about, there’s more folks out there than ever trying to raise capital from both veterans and weekend guru workshop graduates BUT passive investors/lenders have dried up.
Back to Ben, if not for some prudent decisions and his skillset, Ben would be in huge trouble hence it’s best you give this episode a listen. Ben lives and invests in Sarnia, has a construction background, has since left his six figure job and pension behind, and is starting up a property management company with the help of coach Elizabeth Kelly.
Please enjoy the show!
To Follow Ben:
PM Company: https://www.instagram.com/rsb_property_management_2021/
With all the craziness going on it’s nice to have a palate cleanse with go getters like my old friend Amanda Bouck and Marty Gordon.
I first met Amanda around ten years ago at Rock Star Real Estate when she was running the day to day as the in house Property Management business.
Fast forward ten years she’s managed a team of coaches, created educational content at Keyspire and together with her husband Marty, a licensed carpenter who’s gone from employee in construction to general managing their own property management company and investment portfolio of small multis in Guelph to small apartment buildings in London. Apparently Marty has free time between all that, their one year old son to coach as a Keyspire coach as well.
Hey, I’ll never fault anyone for multiple streams of income ;)
Amanda and Marty’s journey from beginner investors in their early 20s to the present, 17 years later, a fair sized portfolio and getting close to buying and building their dream home on large acreage and custom built mansion. It’s an inspiring and real journey.
Amanda and Marty share how they journey wasn’t easy and required hard work. Success is not guaranteed but with hard work, smart decisions, over a large period of time, it’s hard not to be successful.
To connect with Amanda and Marty
On to the show!
I had no idea how many new tax rules we investors have to deal with this year, the Underused Housing Tax is especially concerning as I’ve spoken to many pros out there who don’t understand it either. What’s worse is the penalty is $5-10k for not filling and a lot of us investors have to complete and submit the Underused Housing forms even though we are an excluded owner thus having no liability. We still have to file the forms though.
I’m not an Accountant though but I did invite my lovely wife, Cherry Chan, CPA, CA who happens to be the most in demand Real Estate Accountant speaker to share some of the top tax changes we investors face for 2023.
Cherry does break down these same tax tips on her YouTube Channel Real Estate Tax Tips so make sure to subscribe to her channel along with the 10,000 other subscribers.
In case you’re curious, yes Cherry is still accepting new clients but not sure for how much longer. firstname.lastname@example.org is the email address for your inquiries.
Please enjoy the show!