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15/10/2021
This week I’ll be discussing different ways to organize your money in order to set yourself up for success. It involves putting an emphasis on different strategies, such as budgeting. While no one rea...
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This week I’ll be discussing different ways to organize your money in order to set yourself up for success. It involves putting an emphasis on different strategies, such as budgeting. While no one really enjoys it, budgeting is the absolutely necessary first step. Having multiple bank accounts assigned to different aspects of your budget will help you to stay organized and on top of different payments you will have to make. Most banks allow you to make transfers free of charge between accounts, so you can move the money around as needed. Reckless spending can be avoided when all that’s in the assigned bank account is what you have to work with. What are some of your budgeting tips? Let me know in the comments below!
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08/10/2021
This week I will be discussing the inspection report. Following an inspection on a home, we receive the report from the inspector which we use to make decisions at that phase of a real estate transact...
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This week I will be discussing the inspection report. Following an inspection on a home, we receive the report from the inspector which we use to make decisions at that phase of a real estate transaction. It’s important to remember that inspectors write the report based on what they saw that day, and it’s their job to best represent the current state of the property. To the uninformed eye, a report may appear alarming and even aggressive, which is why we recommend that buyers be present for the inspection. The inspector may have said on the day that the problem should be addressed in a couple of years. If you only see it written on the report it could trigger a reaction that situation doesn’t warrant. So be there for the inspection, listen carefully, and trust your broker to be able to analyze and explain the report to you if and when you need the extra help.
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01/10/2021
This week I’ll be discussing a topic that came up in a discussion with a colleague. After being away for two weeks, they realized the amount of things I tackle during the day and they wanted to know w...
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This week I’ll be discussing a topic that came up in a discussion with a colleague. After being away for two weeks, they realized the amount of things I tackle during the day and they wanted to know what my motivation was, and how I bring the energy that I do. My answer is actually in the form of a question” “Why?”. Why do we choose to do certain things? What motivates us? What is the one thing that we want to accomplish? If you have a purpose as a driving force behind your actions, you will find yourself putting in the work necessary in order to achieve it. So think about, be introspective, take some time to reflect, write it down for yourself: what is important to you? What do you need to do to achieve it? Make it tangible. So what is your “why”? Let me know in the comments below!
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24/09/2021
This week, I’ll be discussing something that can happen to anybody when it comes to investing in real estate: analysis paralysis. This phenomenon occurs when you cannot make a decision because you are...
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This week, I’ll be discussing something that can happen to anybody when it comes to investing in real estate: analysis paralysis. This phenomenon occurs when you cannot make a decision because you are overthinking and get lost in the details. By getting bogged down and wanting answers to all your questions before making a move, it can mean that you never end up making that move at all. In no way should you skip your due diligence, but the only way to get over it is to jump in. Like anything in life: if you want to get something done, you have to overcome your overthinking and just start. We can help guide you through the details and questions that may be stopping you when it comes to real estate investments, so reach out today and make your move!
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17/09/2021
This week I’ll be discussing a question I get often: what should someone’s first investment be? The short answer is: it depends. There are numerous variables to consider that will point everyone in a ...
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This week I’ll be discussing a question I get often: what should someone’s first investment be? The short answer is: it depends. There are numerous variables to consider that will point everyone in a different direction depending on their situation. Your financial situation will dictate what kind of real estate you can invest in. Your desired level of involvement and availability of time will also point you one way or another. Any investment in real estate can be a great investment as long as you are selecting the best option for yourself and your situation and doing the proper due diligence. If you’re looking for some direction for your first investment, reach out to us today!
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10/09/2021
This week I will be discussing the differences between passive versus active investments. Simply put, a passive investment is a vehicle where you don’t put much, if any, work in and you receive some k...
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This week I will be discussing the differences between passive versus active investments. Simply put, a passive investment is a vehicle where you don’t put much, if any, work in and you receive some kind of payment or cash flow from it. Active investment is the opposite: you are very much involved in the activity day-to-day in order to get paid. It is so important when considering your retirement to ensure that passive investment vehicles are in place so that you can enjoy the same quality of life when you are at a place where you no longer wants to be actively working. What are some of your passive and active investment strategies? Let me know in the comments below!
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07/09/2021
I attribute a lot of my success to good habits. One of the best habits I picked up back in 2017 was consistently waking up early. Over time, my wake up has gotten earlier and earlier. Mornings, aren't...
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I attribute a lot of my success to good habits. One of the best habits I picked up back in 2017 was consistently waking up early. Over time, my wake up has gotten earlier and earlier. Mornings, aren't for everyone, but I've come to realize that mornings are the only time I have full control of my schedule. Things inevitably come up later in the day. Starting my day at 5:45am allows me to focus on my priorities before the rest. Shout out to my family at Hard Knox Gym in St-Henri, and my trainer Christian Hip!
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03/09/2021
This week I am discussing the three parts to a real estate return. When it comes to investment properties, most people may only think of the first two parts: appreciation and cash flow. But there is s...
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This week I am discussing the three parts to a real estate return. When it comes to investment properties, most people may only think of the first two parts: appreciation and cash flow. But there is something else to consider: the capital pay-down. You will be receiving rent and paying down your mortgage, which is two-tiered, the capital and interest portions. Initially they will start off as roughly 50-50 amounts and as your mortgage gets paid off more and more, you will be paying down more of the capital portion than the interest portion. When considering how much money you could be making, it is important to consider which of the three parts is the most important to you, as every investor prioritizes differently. Which do you think is most important? I’d love to hear from you in the comments below.
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27/08/2021
This week I will be discussing accountability and it’s impact and importance in regards to your goals. The subject of accountability ties in to the previous videos about mentors and goal setting, so f...
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This week I will be discussing accountability and it’s impact and importance in regards to your goals. The subject of accountability ties in to the previous videos about mentors and goal setting, so feel free to check those out as well. When it comes to our goals, the purpose of having a mentor or coach is to have someone there to make sure you show up and make sure that you achieve what you set out to do. Generally we are more likely to perform when someone is there to put us in the hot seat by asking us about our progress, ultimately, holding us accountable. Accountability is something I believe in strongly, what are your thoughts? Comment below!
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20/08/2021
This week I will be talking about goal setting: what it is, why it’s so important, and what it can lead to. When asking yourself what’s important to you and what you want to accomplish, don’t think sm...
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This week I will be talking about goal setting: what it is, why it’s so important, and what it can lead to. When asking yourself what’s important to you and what you want to accomplish, don’t think small. My first tip is: set large goals and don’t be afraid to think bigger. Even if you don’t quite achieve it, I believe that you will go a lot further than you initially thought was possible when reaching for that bigger goal. Secondly, make sure you are tracking your progress. When you are able to track your progression, you will be able to more clearly understand your results. You will gain and understanding of where you’re heading, how you want to get there, and who you need to get there. What’s your goal setting process? Comment below!
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13/08/2021
This week I will be discussing a questions I received from someone who flips homes for a living: what should you do if you fall in love with a home you’ve flipped? This person would flip a home, live ...
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This week I will be discussing a questions I received from someone who flips homes for a living: what should you do if you fall in love with a home you’ve flipped? This person would flip a home, live in it for a year (to avoid capital gains tax) and sell it to create capital in order to move on to the next flip. Falling in love with the home and deciding not to sell it might mean you don’t have the capital to buy your next project. Two weeks ago, I discussed how to to find money for your real estate deals so let’s take a look at this options. You can refinance the home to get some money back from the bank, you can borrow from or partner with others to regain the capital you’ve been using. There are always solutions, it’s just a matter of figuring out which works best for you. What would your suggestions be? Comment below!
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06/08/2021
This week I will be discussing mentors and the ways that mentorship has changed my life. Although I was doing well in real estate, having the guidance and assistance to implement functional systems an...
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This week I will be discussing mentors and the ways that mentorship has changed my life. Although I was doing well in real estate, having the guidance and assistance to implement functional systems and tangible goals is what really pushed me to the next level. It was through an organization and their program that I was able to meet some key people who had already done what I wanted to do, allowing me to meet my goals much faster. Mentorship can come from anywhere, you don’t necessarily have to subscribe to a program. A mentor can be anyone who is a few steps ahead of you in your field, be it business or life. Surround yourself with people always looking to move forward, and you will find yourself rising to meet them on their level.
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30/07/2021
This week I will be discussing a questions I get frequently: how and where to find money for your real estate investments. When you are starting out in real estate investing, it is often the case that...
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This week I will be discussing a questions I get frequently: how and where to find money for your real estate investments. When you are starting out in real estate investing, it is often the case that you may not have the capital that you’ll need. If this is the case, there are a number of ways to find money to make your investments possible. You can ask the people around you to obtain a loan. You can take on more work in order to create the extra income yourself. Once you have some investing experience, you can partner with others and use the combined funds to make the purchases you want. There is always a way to get it done, and if you need any more tips and tricks don’t hesitate to reach out to us today!
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23/07/2021
This week I will be discussing the effects of being self-employment from an investment perspective. While being self-employed comes along with many different benefits, there are important things to co...
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This week I will be discussing the effects of being self-employment from an investment perspective. While being self-employed comes along with many different benefits, there are important things to consider. Most importantly, your standing with the bank will change. You’ll be viewed as more of a risk and may have a more difficult time getting a loan from a bank. When purchasing an investment property, my recommendation is to stay in your current job, if possible, to facilitate getting the loan from the bank to potentially take advantage of better terms. When it comes to financing as a self-employed investor, it is important to understand all the risks. So if you have any questions, don’t hesitate to reach out!
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16/07/2021
This week I’ll be discussing another real estate investment optimization strategy: the BRRRR Method. I touched on it briefly a couple of weeks ago when discussing whether to hold or flip properties. T...
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This week I’ll be discussing another real estate investment optimization strategy: the BRRRR Method. I touched on it briefly a couple of weeks ago when discussing whether to hold or flip properties. The BRRRR stands for: Buy, Rehab, Rent, Refinance, and Repeat. Each part of it represents an important step in optimizing an investment property in order to create value. The BRRRR is the strategy of Buying the right property, Rehabilitating or renovating the aesthetics. Then on to Renting to create cashflow, and Refinancing to recapture the investment. You can then Repeat the process. Not every property can be BRRRR’d, so if you need help getting started in your search and going through the steps, reach out to us today!
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13/07/2021
Being a real estate broker in Montreal has allowed me to explore the city in depth and appreciate all it has to offer. I will now begin sharing with you some of my favourite spots in and around the ci...
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Being a real estate broker in Montreal has allowed me to explore the city in depth and appreciate all it has to offer. I will now begin sharing with you some of my favourite spots in and around the city, starting with coffee shops. When hanging out in the Sud-Ouest and Old Port, my go-to’s are: - September Surf Cafe - https://www.septembersurf.com - Clarke Café https://clarkecafe.com - Café Olimpico | Montreal - https://cafeolimpico.com What are your faves?
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09/07/2021
This week is part two of my Investment Series, and I will be discussing what is called the “Smith Manoeuvre”. This investment tactic allows you to take interest on your principle residence and make it...
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This week is part two of my Investment Series, and I will be discussing what is called the “Smith Manoeuvre”. This investment tactic allows you to take interest on your principle residence and make it tax deductible. Of course, there are conditions that must be respected, and it should only be used when you are creating a business or invest in property in order to create an investment income. While this allows you to tap into an equity source that most people have but haven’t really discovered, you have to be very careful. Be sure to actively track all your moves and paperwork to avoid any potential issues if you get audited. I would highly recommend consulting an accountant to be sure you are making the right moves. Be sure to follow us next week for more tips and tricks, and don’t hesitate to reach out with any questions!
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02/07/2021
This week, I am starting something new: my Investment Series, where I will be discussing different real estate investment strategies that I’ve picked up and used, and want to share with you. Today’s t...
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This week, I am starting something new: my Investment Series, where I will be discussing different real estate investment strategies that I’ve picked up and used, and want to share with you. Today’s topic is whether to buy and hold a property or to flip it. While there are advantages to both, it really depends on your situation and your plans for the future. A flip will bring a more substantial payout, but you’ll need to be more careful with your investment going in and ensure your calculations are correct in order to make your money. A buy-and-hold is a great way to add on to an already existing income and make a long-term play in the real estate market. Whatever your plans may be, you can always reach out to us to guide you in the right direction!
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25/06/2021
This week I’ll be discussing an interesting question: what were to happen to my real estate investment if the market drops in the next couple of years? If you are planning on staying in your home, the...
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This week I’ll be discussing an interesting question: what were to happen to my real estate investment if the market drops in the next couple of years? If you are planning on staying in your home, there is no real impact. However, if you were planning on selling or refinancing, you might find yourself slightly more constrained than you would be in the hot market we’re currently in. I believe that the prices will continue to steadily go up for the next couple of years and do not predict that there will be a severe correction. You should be staying in the money even if you’re selling in a cooler market. As a general rule, interest rates don’t spike heavily in Canada in order to protect the general population. While we will always see increases in interest rates, they will be slight and steady in order to achieve a more balanced market. If you have any questions or concerns, reach out to us today for questions and help understanding your options in order to make informed and smart moves!
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18/06/2021
Cette semaine, je vais discuter des différences entre l'achat d'un condo divise versus indivise. C'est un sujet assez particulier au Québec, et peu de gens comprennent bien les différences. Il faut d'...
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Cette semaine, je vais discuter des différences entre l'achat d'un condo divise versus indivise. C'est un sujet assez particulier au Québec, et peu de gens comprennent bien les différences. Il faut d'abord comprendre de quoi vous devenez propriétaire. Les condos divises ont chacun leur propre numéro de lot, et donc, à l'intérieur d'un immeuble, vous êtes responsable et taxé en fonction des spécificités de votre lot. Dans un condo indivise, vous devenez copropriétaire de l'ensemble de l'immeuble et vous êtes responsable de votre pourcentage. Il existe des différences dans le financement: le montant de la mise de fonds nécessaire et les institutions que vous pouvez choisir pour votre hypothèque. Il est important de savoir que vous ne pouvez pas non plus louer un appartement dans une copropriété indivise. Ces éléments sont très importants à considérer avant de faire votre achat. Si vous avez besoin d'aide pour vous y retrouver dans ces différences, n'hésitez pas à nous contactez aujourd'hui!
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11/06/2021
This week I’ll be discussing a very important topic: waiving conditions. In the current market, it has become increasingly competitive to get your offer accepted because of the lack of inventory. Some...
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This week I’ll be discussing a very important topic: waiving conditions. In the current market, it has become increasingly competitive to get your offer accepted because of the lack of inventory. Some buyers opt to waive certain conditions when submitting their offer in order for it to be more appealing to the sellers. By waiving conditions, you are essentially surrendering your right to do proper due diligence on what is usually the biggest transaction of your life. While in some cases an inspection is not absolutely necessary, such as when a recent report already exists or it is a brand new property, I am rarely comfortable waiving it because by doing so you are not being a prudent buyer. It is more favourable to look for longer and put in the work to know everything you can about the property so you can be covered, should any issues arise in the future. If you’re a buyer and need help navigating when to waive conditions or not, reach out to us today!
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04/06/2021
Cette semaine, je vais vous parler d'un sujet intéressant appelé "Househacking". Le househacking est un terme utilisé lorsqu'une personne achète une propriété et sous-loue une ou deux chambres. Cela p...
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Cette semaine, je vais vous parler d'un sujet intéressant appelé "Househacking". Le househacking est un terme utilisé lorsqu'une personne achète une propriété et sous-loue une ou deux chambres. Cela peut s'appliquer aux maisons, aux condos, et même aux places de stationnement. C'est une pratique utile parce que les loyers perçus de la sous-location peuvent être utilisés pour compenser les coûts liés à la propriété: hypothèque, taxes, assurance, et génère un flux de revenues pour la propriété où il n'y en aurait pas eu auparavant. Le househacking peut être appliqué à n'importe quel type de propriété: que vous louiez plusieurs pièces d'une maison ou la deuxième chambre d'un appartement. En créant un flux de revenus sur des parties du logement que vous n'utilisez peut-être pas, vous vous procurez les fonds nécessaires à l'achat du logement suivant et à la création de votre portefeuille immobilier. N'hésitez pas à nous contacter si vous avez besoin d'aide pour "hacker" votre maison!
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21/05/2021
I’m here this week with the Montreal real estate statistics update for April 2021. This was another really hot month for the market, especially when compared to the stats of April 2020. Sales and pric...
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I’m here this week with the Montreal real estate statistics update for April 2021. This was another really hot month for the market, especially when compared to the stats of April 2020. Sales and prices are up for properties across the board on the island: Single-family homes by 39%, condos by 18%, and multiplexes by 14%. The increase in price that we’re seeing is due to the fact that there is so little inventory on there market, there are currently a lot of buyers, and interest rates are going down. If you’re worried that the market will be this way forever, don’t be! There is simply not enough supply to absorb the demand right now, which has led to the numbers that we are currently seeing. We can expect to see a second waive of buyers coming into the market soon. All foreign buyers are likely to heat the market up a bit more when the borders open up. This will likely happen in September, right in line with back to school for university students. So I predict the market may stay crazy for another year or two. If you need help navigating, don’t hesitate to reach out!
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14/05/2021
This week I’ll be focusing on a question I mostly get from my real estate investor clients: should you invest in a property close to your own home? I think it’s important to live relatively close to y...
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This week I’ll be focusing on a question I mostly get from my real estate investor clients: should you invest in a property close to your own home? I think it’s important to live relatively close to your investment property to allow for access in case of any emergencies. That being said, it can be beneficial to keep your distance as well so you don’t have your tenants knocking on your door for issues that are not necessarily pressing and keep your boundaries in the landlord-to-tenant relationship. Another option is to hire a property manager and remove yourself entirely from the equation so that you don’t have to worry about how close or far you are. This particular option is a necessity for those investing in other cities. The important thing to consider when hiring a property manager is whether it fits into the scope of your investment and if it works with your investment projections. Feel free to reach out to us for help with any of your property management needs! We have the experience and are ready to help!
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