0 to 54 units in 12 months

0 to 54 units in 12 months

Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes

Hey guys,

I am a full-time real estate investor from Montreal, Canada. Almost 3 years ago, I started flipping single-family houses and subdividing land on a part-time basis. One year later, I was able to go at it full-time along with my business partner. To date, we have completed over 20 transactions. 

In September 2016, my partner and I decided to keep flipping, but to focus most of our attention on buying rental properties in order to build sustainable long-term wealth.

Fast forward 12 months later, we went from 0 unit to 54 units with a little over 1.7 million dollars in equity (along with 3 million in mortgage).

The key is simple: You just have to do it. Take action! Nobody else will do it for you. Everything you buy should ideally be off market, and you have to be very careful with your calculations in order to buy properties that will surely yield great returns. If you analyze the right way, you will decrease your risk drastically. 

No we are not rich, and we used OPM (other people's money) to complete all of our purchases.

If we could do it at 28 years old, so can you!

Let's go!!

G

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Joshua ThompsonBusiness Member
Accountant · Melissa, TX (Remote) · Member since 2017 · 210 posts · 135 votes
9y

@Guillaume D.

You mentioned the best deals are the ones off the market. I would love to know how you're getting your deals?

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  • Joshua ThompsonBusiness Member
    Accountant · Melissa, TX (Remote) · Member since 2017 · 210 posts · 135 votes
    9y

    @Guillaume D. That's a motivating story. Congratulations on your success man especially in such a short amount of time. 54 units in 12 months I can't wait to see where you're at in the next 12. Keep it up!

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  • Investor · Atlanta, GA · Member since 2017 · 136 posts · 54 votes
    9y

    Great job!  Thanks for sharing.

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Joshua Thompson @Troy Luster Thanks guys! I will definitely keep you posted.

  • Joshua ThompsonBusiness Member
    Accountant · Melissa, TX (Remote) · Member since 2017 · 210 posts · 135 votes
    9y

    @Guillaume D.

    You mentioned the best deals are the ones off the market. I would love to know how you're getting your deals?

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  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    9y

    A fantastic story and accomplishment, great job.

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Joshua Thompson On the streets driving for dollars, sending direct mailings, making a lot of phone calls, etc. We have a full-time employee handling most of it now. Every method can get you deals. Anything but the MLS ;).

  • Real Estate Agent · Chatsworth, CA · Member since 2016 · 112 posts · 72 votes
    9y

    @Guillaume D. Super motivating. Congrats on your success! :)

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Jolene Blazey Thank you! Hope it can help inspire others!!

  • Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    9y
    You are basically my hero! Good for you and good luck going forward!
  • Honolulu, HI · Member since 2017 · 6 posts · 2 votes
    9y
    Congratulations on your success. Very inspiring and as you mentioned, you just have to take action and take that jump.
  • Rental Property Investor · Boca Raton, FL · Member since 2017 · 329 posts · 237 votes
    9y

    Hello @Guillaume D.  

    Great story.  Congrats on your success!

    Bob

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Jason D. ahah thanks, but don't push it ;)! I have a lot more to accomplish to catch up with the big guys. 

    @Stephanie F. Thanks! Action is always the key. Good luck on your investments.

    @Bob Razler Thanks Bob. I appreciate it.

    By the way, I just went under contract for an 8-plex yesterday. We are visiting all units next Monday, inspection on Wednesday and if all goes well, it will be another extra 8 units moving up to 62 units!

  • Investor · Trussville, AL · Member since 2015 · 50 posts · 19 votes
    9y

    @Guillaume D. Very nice job, and the community thanks you for sharing! The key is action. Having a process that sets you up for success and sticking to it no matter what. Keep it up, sir!

  • New Rome, OH · Member since 2017 · 10 posts · 7 votes
    9y

    @Guillaume D., I would like to here why you advise to stay away from MLS. The MLS properties I've researched in my area still have cash flow even with conventional loans.

  • Rental Property Investor · Philadelphia, PA · Member since 2015 · 213 posts · 160 votes
    9y

    @Earnest Boyd I believe he's making the point, because you're probably never going to find a homerun deal on the market. Plently of investors looking at MLS deals, if it's originally listed at a price that can give you a 25% return on equity, an investor will probably overbid just to secure it and take a 15% return. If you get an off-market deal and the seller requests a price that will give you a 25%+ return, there is no competition to bid the price up.

  • New Rome, OH · Member since 2017 · 10 posts · 7 votes
    9y

    @Charles Kennedy So you just adjust the figures to the maximum price the deal is worth and start making offers.  Competition can be a good thing, it makes you think about how to make your offer appealing to the buyer.  If your deal is more appealing to the buyer your deal will most likely be accepted.  Am I not thinking in the correct direction?

  • Rental Property Investor · Philadelphia, PA · Member since 2015 · 213 posts · 160 votes
    9y

    @Earnest Boyd Yeah you can adjust your purchase price to make your returns 25%+ plus what I'm saying is that almost always you will be outbid because on the MLS hundreds of people will look at the property and will be able to run the #s and will be fine with taking a lower return.

    Again, you'll find deals on the MLS I just think you'll get fantastic deals off-market. These can also benefit the seller too as although you'll get a discount from market rate the seller isn't paying 6% in brokers commissions.

  • Real Estate Agent · Irvine, CA · Member since 2016 · 224 posts · 142 votes
    9y

    Awesome stuff @Guillaume D.!! Love hearing other fellow Canadians doing it!! 

    Keep it up!! 

  • Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Guillaume D. Sounds a little like my story only I am 19... hahaha. I am flipping and developing though and not buy and holding yet. Awesome story man, keep it up. I would rant and tell my story but the spot light is on you here. But you are 100% correct, the most important thing is to take action. I can vouch for that because if a 19 year old can do it... Anyone can do it. We are living proof that it is possible. JUST TAKE ACTION.

  • Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
    9y
    Good stuff man love to hear stories like this. I think that if you can find the right business partner it makes this a lot more possible as well!
  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Kris Reeves Thanks for the nice words! Sharing with the community is important to help inspire others. I want everybody to understand that they can do it as well :).

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Earnest Boyd Great question! I think @Charles Kennedy hit it right on the nail. By experience, yes you can find "deals" on the MLS, but they rarely provide the kind of return you can get from off-market deals. The reason is simple: no competition. The fact is that probably 95% of RE investors only focus their search on the MLS because it is accessible and easy. They don't want to take the time to go through the harder processes such as driving for dollars, direct mailing, etc. Therefore, whenever a potential "deal" comes on the MLS, every investor out there will fight for it and there is a very high likelihood that one of them will always want to pay more than you do. So most of the time, you will have to lower your desired return just to get a deal done.

    Now, don't get me wrong. I have bought deals from the MLS for flips and they turned out just fine, but never as profitable as my off-market deals. Of course, the definition of a "deal" is different for everyone and in every market, but the concept doesn't change: off-market deals have greater potential for greater returns.

    Hope this helps!

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Thomas Lorini Hey Thomas! Do you live full-time in California now?

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Mateusz Prawdzik Wow! Very impressive. At 19, I had not clue what I wanted to do for a living so you have a clear head start on probably all of us! ahah Keep it up and I would love to hear your story. 

    I bought my first triplex when I was 23 with 2 other partners so I didn't have to put any money into the deal, and completed my first house flip at 24 again with 2 partners for the same reasons. I then took the money I made from my first flip (about 7k), and I went out to participate to every RE event possible, bought RE books, enrolled in some RE classes, etc. The next house flip I made, after I gathered all of this knowledge, generated a profit of 50k so essentially my initial 7k transformed into 50k. Then the next house flipping deal was 100k profit, and so on and so forth.

    I started with nothing and never put a penny in any deal I've made. If we can do it, everybody else can! You just have to be knowledgeable and convincing enough to be able to gather OPM (other people's money) to grow your real estate business.

    G

  • Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
    9y

    @Antoine Martel Completely agree! Wouldn't have been able to be at this level today if it wasn't for my business partner. The key is to have complementary skills with your partner! I have a bachelor's degree in Marketing whereas my partner has a bachelor's in Construction Engineering. I participate in networking events, I make contacts, I am active on BP, I put deals through the pipeline via Marketing. He manages all of our projects and is in-field. 

    Having a partner also helps a lot with everyday motivation and having different point of views also helps make the right decisions.

    G

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