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.
Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
9y
Hey guys! Thanks for the incredible support and feedback. I will do my best to respond to everybody's comment, inbox and colleague request, but I am getting SWAMPED right now so thanks for your patience!
Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
9y
@Michael Ablan We are actually targeting bigger properties since my partner and I each owned a triplex for several years and we wanted to get into the larger building game. We own an 8-plex, a 12-unit, an 18-unit and a 16-unit at the moment. We have another 8-plex lined up and we are actually doing the inspection today on that one.
Real Estate Investor & Marketing Specialist · Montreal, QC · Member since 2013 · 182 posts · 367 votes
9y
@Brian Ploszay I agree with you. I started with a triplex over 5 years ago. That's how I gained experience on how to manage tenants. I was also in the real estate world for about 3 years doing flips and other projects before I bought all of these units.
Charlotte, NC · Member since 2015 · 65 posts · 15 votes
9y
Good stuff! My partner and I are working on our first rental, and looking for flips to build cash reserves and allow he and I to go at it full time. He's a realtor so he will be doing the selling.
We have a goal of 10 rentals by mid September 2018, but if we can get 20, or more, I will not complain.
Rental Property Investor · FL · Member since 2017 · 74 posts · 27 votes
9y
Guillaume, truly awesome! Question for you, did you use the profits from the flips to buy the rentals? Just wondering where the cash for those down payments came from. Thanks! :)
Investor · Charlottetown, Prince Edward Island · Member since 2017 · 1 post · 0 votes
9y
Hey Guillaume, It's so great to hear success stories like yours in the Canadian market!
I know you're keen on using OPM for the equity portion of your deals, but for the debt portion - are you usually entering into conventional funding with bigger Canadian banks or using other resources?
If your team is ever interested in real estate on the east coast (I'm in Prince Edward Island) - be sure to drop a line! I'd love to hear more about how you stay profitable with our inflated Canadian land prices.
Thanks for sharing your story and all the best in the future, sir!
Investor · Elizabeth, NJ · Member since 2017 · 70 posts · 14 votes
9y
Guillaume D. Also wanted to ask if you don’t mind sharing when you say directmail how do you source your list? If you can PM me I’d appreciate it. Thank you
Best of luck!