Ep.129 – Student Rentals during COVID with Jared Henderson

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn how Jared’s investment strategy is keeping a steady cash flow going 
  • Find out about an exit strategy, just in case the student population dries up 
  • Find out where the sweet spot is, in single-family homes, so that it brings in steady cash flow and has manageable results

Resources/Links:

Summary: 

Jared Henderson lives in Montreal and started investing in real estate in 2012. He now focuses on cash-flowing student rentals in Peterborough and only invests in Ontario.

In this episode, Jared shares about the cash flow opportunities in student rentals versus single-family rentals. The odds of a vacancy in student rental property are slim compared to a single-family rental property. 

Topics Covered: 

01:06 – What his primary investment strategy 

01:41 – Why choose a small city in Ontario for his investments and not in his own city 

04:50 – Why he continues to invest in Peterborough and not in Montreal 

07:13 – Are his properties pre-existing student rentals or single-family homes converted as student rentals 

09:04 – What is a sweet spot in terms of the number of rooms for cashflows 

09:53 – How is his student rental set-up – co-ed or all-male or all-female 

10:32 – What good property management can do with cleanliness and orderliness 

11:41 – How long is the tenancy for student rentals 

13:11 – Is he catering to international students and how advantageous is it in having them over local students 

14:32 – How does he raise capital to buy properties 

15:20 – How much does he get having the place as student rental versus renting it as a family home 

16:43 – The advantage of having student rentals versus renting out the place as a family home 

Key Takeaways: 

What really attracted me to the student rental model is that I have multiple leases in these houses. I would never be without any revenue altogether. Worst case scenario is these days I’m perhaps half full or four out of six students are there. I’m always receiving a steady flow of cash which provides my business stability.” – Jared Henderson 

“The reason why I continued investing in southern Ontario instead of Montreal is because of the strong fundamentals in the GTA, through transportation development, job formation, and migration.” – Jared Henderson 

“If the student population dries up. And there’s too much competition with investors like myself or concentrating on cash flow and filling up all these rooms, I can either do a single-family by just converting it to a nice new home, or I can duplex the building.” – Jared Henderson 

“Six-beds is a sweet spot in terms of good cash flow and manageable results.” – Jared Henderson 

“I aim for a year-long lease. Most of my students are at Fleming College where you’re having certain terms to be 1, 2, 3 years versus typical University, which would be four years. So, with these shorter periods of time, I do have a little bit more turnover.”  – Jared Henderson 

“I’ve had success filling out my homes in the summer they would be slightly less occupied. But we’re talking four to five rooms complete versus six over the summer.” – Jared Henderson 

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Ep.128 – Real Estate Allowing for Life After Tragedy with Jay Gabrani

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about the simple strategy that has served Jay well in his real estate career 
  • Discover the tragic story that inspired him to create a business called Prepared Fathers focusing on how to build a real estate portfolio 
  • Learn about a new project he is venturing into called Teen Finance Accelerator 

Summary: 

After his first child was born in 2005, Jay Gabrani jumped into the world of real estate investing. Despite several challenges along the way, he built a seven-figure real estate portfolio that helped him take a multi-year sabbatical to deal with the heartbreaking tragedy when his wife passed away in 2014. Today, Jay makes an impact in raising three children and empowering families to secure their Family’s Financial Future as the founder of Prepared Fathers. 

In this episode, Jay shares how his income from real estate provided him the financial cushion when he needed it the most. And in his quest to find out how millionaires become millionaires, he found that real estate was the way to go. 

Topics Covered: 

01:15 – The primary investment strategy that has served him well  

01:58 – What does he buy and hold and why does he advocate one’s focus 

03:14 – What does he do with the properties with bungalows on it that he bought 

04:22 – Are they bungalows with secondary suites or are they just single-family homes 

05:51 – A backstory of what his career was before real estate and what made him shift to the latter 

07:15 – How his first real estate investment in Edmonton started 

08:17 – What’s his name of the game when in trouble 

09:53 – Making the most of joint venture when looking for capital  

11:39 – Number of properties he builds with his partners and how did the investment go 

12:14 – What is his business called Prepared Fathers all about 

13:08 – The tragic story behind what made him start Prepared Fathers 

17:51 – What this tragic story taught him and how real estate has been a financial cushion to him 

19:56 – His new project: Teen Finance Accelerator – what is it all about 

Key Takeaways: 

“I am a strict buy and hold long-term guy. It served me pretty well. And that’s the strategy I just like. I like things simple. I find buy and hold to be simple so that’s what I tend to stick with.” – Jay Gabrani 

“I had always driven to be successful. I was always rather ambitious, but I wanted to know how millionaires became millionaires. I read a whole bunch of stuff. I chose real estate.”  – Jay Gabrani 

“When you’re going through some trouble. Keep it rented. Keep the space full. So that’s one thing I want people to point out. It’s not always doom and gloom, even when the numbers go down if you stay rented.” – Jay Gabrani 

“There’s so much money just sitting around. You should never have the excuse of, there’s no money. Because if you don’t have one, that’s fine. Partner, partner. Be resourceful. It’s not about having resources. It’s about being resourceful.” – Jay Gabrani 

“I love doing the consulting and coaching so Prepared Fathers is what we’ll call an everyday business that I do.” – Jay Gabrani 

“What I encourage people to do is be ready for life’s curveballs and real estate lets me be ready after that tragic and obviously, a very difficult experience I went through.” – Jay Gabrani 

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Ep.127 – From Maintenance Guy to 4500 Doors with Glenn Gonzalez

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out about investment properties that give him the most profit, at the same time providing returns for his investors 
  • Learn why forging good relationships matter when looking for good partners and investment deals 
  • Learn about the best practices for the maintenance and the management of properties 

Summary: 

Glenn Gonzales has been in the business for the past 30 years. He started as a building maintenance man, learned the industry, and ran his own property management company. He then purchased 4500 units and in 2018/19 he sold the majority of those units. 

In this episode, Glenn talks about his wide range of experience in the maintenance and the management of properties and how that experience prepared him to eventually own his management company as well as several other multifamily units. 

Topics Covered: 

01:01 – His primary focus of concern as far real estate is concerned 

01:19 – What he loves about the investment strategy he chose 

02:49 – Why he chose to sell versus hold on for long-term before 

03:16 – The transition from being a maintenance guy to buying apartments 

06:48 – How he dabbles from one role to another 

09:16 – The time he finally got to buy his own apartment 

12:02 – How he found other deals from the first time he did 

Key Takeaways: 

“Part of my preference for selling versus holding on was where I was in my station in life. I wanted money in my pocket. And that was the quickest way to put more money in my pocket.” – Glenn Gonzales  

I learned a very valuable lesson of how important it is to have a good maintenance guy and a good manager. Because you can’t have a successful apartment complex without both of those people being on the same team and working together.” – Glenn Gonzales 

“For 25 years, I navigated through property management with several different management companies. And along the way, I was just getting more and more and more experience for sure, what to do and what not to do.”  – Glenn Gonzales 

“Getting 4,500 units, it’s not that simple, but yes, relationships and being in the right place and the track record to experience the 25 years in the trenches, so to speak, it gave me the experience because I could tell what was a good deal from what was a bad deal.”     – Glenn Gonzales 

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Ep.126 – Dentist to Real Estate Investor with Dr. Paul White

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out what Real Numberz is all about and how it helps organize your investments
  • Find out how to test run real estate without having so much risk and earn a decent potential of return
  • Learn why you have to trust your partners but still verify

Resources/Links:

Summary: 

Dr. Paul White is a former orthodontist and best-selling author turned real estate investor. With his son Trey managing his own investments, Dr. Paul created Real Numberz, the only comprehensive app in the real estate industry for investors with diverse portfolios of assets. 

Dr. Paul believes the key to achieving financial freedom has as much to do with optimizing your existing investments as it does to acquire more of them. The mission of Real Numberz is to revolutionize the passive real estate investor experience, empower individual investors to control their investments rather than letting their investments control them, and give any real estate investor, no matter their level of experience, the tools they need to achieve their freedom with less time, effort, and anxiety.  

In this episode, Dr. Paul shares what made him shift from dentistry to real estate. You will find out how he developed a business software that helps organize all your investments even when he, himself is not a programming whiz. Learn about his multiple real estate investment strategies that made him successful all these years. 

Topics Covered: 

00:43 – What’s the shift all about from being a dentist to becoming real estate investor 

01:09 – How long has he been with being a dentist before finally jumping into real estate 

02:48 – What investment strategy he invested in the beginning 

03:31 – What multiple real estate strategies is he into now 

04:16 – What is Real Numberz all about 

07:00 – The advantage and disadvantage of doing real estate actively versus passively 

08:36 – Trusting but at the same time verifying 

09:46 – How to test the waters in real estate without having too much risk 

11:08 – How was he able to do everything in Real Numberz even if he’s not a programming guy 

Key Takeaways: 

“The realization, I guess Warren Buffett said it best, he said, ’If you don’t make money while you sleep, you’ll work till you die.’ And that was sort of a wake-up call for me, and that started my journey to alternative investments.” – Paul White 

“I think what Reagan said a long time ago, ‘Trust but verify,’ is sort of the mantra that I would sing to all of them.” – Paul White 

“Most investors make the mistake of just handing people money and never going to the site or never having to pay somebody to drive by to see if it’s there. Or anything else about the operator, and talking to other investors that have worked with them. Maybe you have done a background check on those people. There’s a lot that needs to be done because it’s a lot of money that you’re usually putting out there.” – Paul White 

“I think the best thing you can do is a partnership, either with a seasoned investor or a seasoned operator, maybe rehabbing and renting a house together, so everything sort of split it, you can even do the same thing with some private lending as well.”  – Paul White 

“You know what, I’ve done a lot of syndications over the years and I will tell you, the operators that don’t have any money in the game makes me nervous.”   – Paul White 

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Ep.125 – Rehabbing vs Wholesaling with Beka Shea

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about the biggest benefits of rehabbing and wholesaling real estate 
  • Find out what it is about wholesaling that appeals to most people as an investment strategy 
  • Discover low-cost ways of finding deals

Summary: 

Beka Shea is a former Navy Mechanical Engineer Officer. She started real estate rehabbing full time in 2013 after which she laid the foundation to grow her real estate investments by Scaling. She’s rehabbed 60 houses, wholesaled 120 deals, and has 12 rentals. She now works full time with the company 7-Figure Flipping, guiding accountability groups and member success.  

In this episode, Beka shares what her transition was like from Navy Officer to Real Estate Investor, how she dabbled in rehabbing and wholesaling real estate, and finally what made her decide to devote herself full time to rehabbing real estate. What was it in rehabbing real estate that got her so focused on it? 

Topics Covered: 

01:25 – Beka defines what is rehabbing and wholesaling 

02:18 – The biggest benefit to rehabbing properties 

03:39 – How was the transition from being a Navy officer to real estate 

04:57 – What is wholesaling and what are the benefits of getting into it 

05:58 – What appeals to most people about wholesaling 

07:26 – How was it like juggling between rehabbing and wholesaling properties 

08:20 – Talking about working full-time rehabbing 

10:00 – Low-cost deals for finding deals 

12:38 – How she put up capital for her rehab deals  

14:11 – How does she secure her investors’ money 

15:11 – Typical price point for her property deals  

16:37 – What is Seven-Figure Flipping Mastermind 

Key Takeaways: 

“After doing a whole bunch of investing, I would say to your audience that I have noticed there’s a tendency of what type of people do better in which arena.” – Beka Shea 

“Rehabbers tend to have this project management bent. You see a lot of former accountants, engineers, contractors who do really well in the rehabbing space and I think it’s because they like breaking things down into the process.”  – Beka Shea 

“Managing the process, wholesalers as people assign deals. They tend to love the art of the deal.” – Beka Shea  

“I personally love the rehabbing side of things, taking something that other people would view as just broken down and worthless and being able to see the potential in it and then unlock that.” – Beka Shea 

So, wholesaling to me is a sales marketing company. I think a lot of people get into marketing, they often talk about them, like, you know, me, me, me, I buy houses, I fix houses, the sellers don’t care. They want to know how are you going to make their lives better. So, it starts with the marketing piece.” – Beka Shea 

“What is it with wholesaling that people like it so much as an investment strategy? It’s fast. And if you’re good at making deals and you recognize your value, I mean, there is a lot of money to be made.” – Beka Shea 

“When I wanted to start scaling my business, I joined a mastermind, which is a really cool way to get around people doing more to get out of just your local market and be exposed to people doing stuff on a greater scale.” – Beka Shea 

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Ep.124 – No Risk Airbnb with Jorge Contreras

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about a real estate investment that has survived COVID 19’s harsh effects and still makes cash flow margins every single month 
  • Find out investment strategies that will cost you the least amount of risk, as well as money
  • Discover about the marketing strategies he employed to get his units filled with renters even amidst the pandemic

Summary: 

Jorge Contreras is a real estate investor and a coach with 15 Airbnb that has a 6+ figure annual cash flow. 

In this episode, Jorge shares how he has pivoted in his Airbnb deals during these weird times without running out of cash flow every month. He also shares about his Airbnb strategy which gives you zero risk and costs nothing if a deal goes sideways. 

Topics Covered: 

01:03 – How has the pandemic affected Airbnb market 

05:19 – Three strategies to go with Airbnb 

06:58 – Which strategies does he recommend for most people 

07:52 – Why does he not recommend the leasing and subleasing strategy 

09:49 – Describing a scenario when a subleasing deal has gone bad 

11:37 – Some Airbnb tips from Jorge 

14:05 – Is a longer-term rental still permissible after laws prohibiting Airbnb takes place 

Key Takeaways: 

“How do we make adjustments now to bring more eyes to our shortterm rental portfolio? And so, we started marketing our properties on websites that market to corporate housing, and nurses who are traveling for work for COVID to work at hospitals.” – Jorge Contreras 

“We started bringing down the pricing where we started to attract locals who were living, say near downtown LA in tiny little apartment spaces where they had no social distancing and they were going down the elevator or something and they wanted to rent a single-family home with some space.”  – Jorge Contreras 

“Between the staycation, there’s the corporate housing and the nurses, we actually made less money, a lot less money. But we were still making some small profit cash flow margins every single month, even during the worst month of March and April.”  – Jorge Contreras 

“I believe that co-hosting is a great way to get your feet wet. You also learn management, marketing, customer service. It’s a great way for people that want to get into real estate investing, but don’t have a ton of money.” – Jorge Contreras 

“As an investor, we always look at how can I make the most amount of money with the least amount of risk and the least amount of money and the best I did is co-hosting.” – Jorge Contreras 

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