0 to 54 units in 12 months
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
Great stuff @Guillaume D. I'm from Montreal too. I only invest in the US but makes me happy to see the progress you've made with your partner. Would love to get connected!
@Guillaume Awesome work, I read every one of your comments too! I am about to start growing my investment portfolio, can you PM me with how you generated your leads/ mailing lists?
Dan
@Guillaume D. amazing!! and very inspiring thank you for sharing, it definitely motivates me to keep going! I'm in the learning phase of commercial residential units. I am knowledgeable on 1-4 units and am more intrigued with commercial as it can help me reach my goal quicker just like you!
few questions: how did you finance your 5+ units, commercial lending? if not, what type of lending? I'm learning about commercial lending and how it's different then residential. I'm intrigued with commercial lending as it is dependent on the property not one's income.
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Real Estate Agent CA (#01947914)
- Dulce & Co. | Real Estate
- 858.333.7597
- http://dulcebeltran.exprealty.com
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Great story and very motivational ---- thanks for sharing. I like how you just got a 8 flex under contract, then plan to visit property, and then inspection. Extremely proactive and I agree with this approach.
Guillaume D. Thank you for sharing!! What formula do you use to make a determination on whether to buy or not? Do you use the BiggerPockets rental calculator? Do you have a different method? Thanks again and much more success in the future!
A lot of you are asking privately how to find off-market deals. I've found great deals by "driving for dollars", with direct mailings and through business contacts. However, another way to find great off-market deals, which is not discussed very often, consists of driving a lot of traffic to my Lead Propeller website using Adwords (pay-per-click advertising). I have a bachelor's degree in Marketing and I've worked for an ad agency full-time for 4 years creating, managing and optimizing Adwords campaigns all-day long. That's how I am able to generate good leads and get a pretty interesting ROI. If you need any help on that front, hit me up in private and we can discuss.
I will try and make time to answer all of your other questions here on the forum post, but just give me a little bit of time. Thanks guys!
what type of Rental properties were you buying? Do you currently use OPM or are you using bank financing for your portfolio now?
@Isaac Antoine I own a triplex, an 8-plex, a 12-unit, an 18-unit and a 16-unit. I use bank financing, but cash down comes from OPM. This way, I don't have to put any money into the deal and can buy a lot of doors in a short amount of time. Not for everybody, but it's the strategy that works for us based on our objectives.
@Dario Contreras I have my own Excel calculator that is specific to Canadian financing laws in order to run the numbers. I wish we had a BP calculator for the Canadian market ;).
I love that approach! If you don’t mind me asking, will you do a refi to cash out your investors or do you provide an equity position? Thanks in advance
This is motivating thanks for sharing!
Are there 100% financing for multifamily units?
0 - 54 units in 12 months
Amazing Guillaume D. ! So are you investing in Montreal? Or in the States?
Good stuff man. That’s a great year.
Good work and congrats on your achievement! So cool to read this thread!
I just moved to Quebec City earlier this year ago and am getting a feel for the market here. I’m sure it’s quite different than in Montreal but I’m interested in what differences you have in your spreadsheet for running numbers in Canada. I have a worksheet from KellerInc.com (Hold: how to find buy and rent houses) but the figures are based in the US. I have a duplex in BC that cash-flows well and am keen to get another investment property here. Just learning how to run the numbers so any tips would be appreciated.