Ep.134 – Replace Your Income with Tyler Soulliere’s BHIR Strategy

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn what a BHIR strategy is and how to fully leverage it 
  • Learn how to buy turn-key properties, increase the value and sell them for higher returns 
  • Learn how to find capital for your deals without digging into your own pocket

Resources/Links:

Summary: 

Tyler Soulliere is the President and Founder of TySoull Investor, which invests in Real Estate in the Windsor and Essex County Area in Ontario, Canada. They specialize in developing properties in Windsor, and Tyler is the CKO of TySoull Educator, a company that teaches others how to invest in real estate. 

In this episode, Tyler shares his real estate strategy that provides cash flow throughout the years; How to increase the value of your property over time and sell it for higher profits.

Topics Covered: 

01:10 – How he started out in real estate and what his main focus at this time 

03:31 – How he focuses on being a realtor and real estate investor-entrepreneur 

04:10 – What properties are giving him the cash flow these days 

06:10 – The highs and lows of flipping properties 

08:29 – What is a BHIR method strategy he’s focusing into now 

12:14 – On being named the Canadian Real Estate Wealth magazine investor of the year a few years ago 

14:59 – How he gets capital for his deals 

Key Takeaways: 

“As I kept flipping a couple of properties here and there, I started looking at the bigger picture, why always depend on a big payday when I could just slowly get out of the solid real estate to then have passive income from rental properties.”  – Tyler Soulliere 

“If you keep flipping properties, it’s not really a passive income, it’s always active.”  – Tyler Soulliere 

“If I can increase the income, I can increase the value and that’s kind of my strategy. I actually called it the BHIR method, the Buy, Hold, Improve, and Refinance method.”  – Tyler Soulliere 

“Because I found renovating any properties expensive, contractor. trades, labor materials are all getting more costly. So, then I look for this kind of almost hidden gems that I don’t need to do any work, they’re turnkey when I buy them.”  – Tyler Soulliere 

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Ep.133 – Women Real Estate Investors on FIRE with Tahani Abunareh

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about how she started from scratch and rose to become a multimillionaire in real estate 
  • Find out about the advocacy she founded to help women create wealth 
  • Find out her main investment strategy that is credited for her real estate success

Resources/Links:

Summary: 

Tahani Abunareh is a best-selling author, serial entrepreneur, and real estate mogul (investor and coach). Tahani is now trailblazing a new legacy project, the first of its kind in North America called F.I.R.E, Females in Real Estate. In addition to a wider free Facebook community for women, F.I.R.E. is a movement designed for women who want to build financial independence through real estate. Tahani believes every woman deserves the right to feel financially secure and independent, and she is on a mission to champion as many women as possible.  
 
In this episode, Tahani shares her real estate journey all the way from having nothing to becoming the multimillionaire real estate mogul that she is today. She talks about her advocacy for helping create wealth for women as she believes women have what it takes to bring impactful contributions to the real estate world.

Topics Covered: 

02: 30 – How she got into the real estate space 

03:42 – From a realtor to a real estate investor 

05:06 – Her primary investment strategy 

05:37 – The primary market she’s focusing on 

06:06 – What is this Fire Movement that she started on 

09:23 – Lessons learned from helping other people 

10:21 – Talking about the real estate book she wrote about 

11:29 – What she thinks are the challenges facing women today 

13:28 – What women bring to the whole formula of real estate investing 

Key Takeaways: 

“I focus mostly on adding a second suite house where I bought, I fix them, but not a flip. But we add some second suites and then we just going to rent them and sometimes on odd times we flip.” – Tahani Abunareh 

“Fire movement, it’s a real estate for women where I get together with women, where I teach whoever wants to learn, they can come in and I’m willing to help them learn and I teach them.” – Tahani Abunareh 

“It all really stems from the belief that if you can help more people, that people will push you and will lift you up as well. And that’s what happened to me is like, I had it, I just wanted to help my clients and the more I helped, the more I got helped.” – Tahani Abunareh 

“The challenges that women face is, it’s right here in between their heads because it truly is them believing. If you believe that this is something that you really, really want, you’ll find a way to make it work. And if you believe it’s going to be too hard, then it’s just an excuse. Because even if it’s too hard, there are others who have already paved the way. You just have to ask questions.”  – Tahani Abunareh 

“Women bring something different to the table. That’s what I love about it. They bring in a lot of amazingness into the whole formula of real estate investing.” – Tahani Abunareh 

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Ep.131 – Pre-Construction Condo Investing with Mitch Parker

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn and understand how preconstruction condos work from an investor, buyer, and developer’s point of view 
  • Learn how to leverage from purchasing pre-construction condos 
  • Find out the pitfalls when diving into this investment strategy so you are forewarned at the onset

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Summary: 

Mitch Parker is an energetic and passionate, real estate sales and investment expert. He is the Vice President of Sales and Marketing with Hersh Condos; a real estate brokerage specializing in marketing and selling some of the top new developments in the Greater Toronto Area. He’s been investing in real estate since 2006 and has transacted hundreds of millions of dollars of property for both clients and himself while becoming a go-to media expert featured on Canada Am, CTV, SiriusXM, Toronto Sun, Huffington Post, and more.

In this episode, Mitch shares what goes into the whole process of preconstruction condos, the timeframe with which it can be livable from inception. Basically, he walks us through strategies in which you can profit from these properties while under construction and during the time it’s ready for occupancy, while also sharing potential disadvantages of this type of investment strategy. 

Topics Covered: 

01:16 – What is a pre-construction condo 

03:08 – From student housing how did he transitioned to pre-construction condos 

05:40 – What goes through when you are ‘assigning a property’ in pre-construction condos 

07:30 – How long is the property livable from inception 

08:38 – As a buyer, how much do you put up as down payment 

10:09 – Timeframe with which you fully pay your down payment 

11:29 – How do developers profit from this whole pre-construction condos 

13:43 – What are the disadvantage of this investment strategy 

Key Takeaways: 

“Originally, I was selling homes, I was selling condos. And then I love business. I love the scalability of a business. So, selling buildings allows me to do that where you can come in some days, we’re selling like 120 to 150 condos in one day.” – Mitch Parker 

“With pre-construction condos, if you can assign it down the road and make a fortune, that’s awesome. But you have to have that plan B, where you’re going to close the property, put a tenant in also, and sort of ride it out until the values are stabilized. At the end of the day, that’s really how you build wealth, by keeping the properties, paying down the mortgage, or having a tenant pay down the mortgage. And I think you thank yourself at the end of the day for it.’  – Mitch Parker 

“Typically, a deposit structure would be like 5,000 on signing, balance, 5% in 30 days, and then your next 5% might come six months down the road, and then you might have another five for a year and a half down the road. So, it’s staggered out pretty well which is one of the nice advantages of doing it pre-construction condos.”  – Mitch Parker 

“And from a developer’s side, they’re putting up their own capital, they’re investing their time into it, you’re into hundreds of millions of dollars with these things. They do get paid well, for sure. But I would say it’s a direct correlation of the incredible risks that they take as well.” – Mitch Parker 

“You always want to be working with a developer that has done it before and has built that kind of product before. You know a lot of headlines have come out about projects that are not getting built. And I think that’s probably the biggest risk, but typically, buyers are protected. The money that you put in a deposit goes into a lawyer’s trust account.” – Mitch Parker 

Some people like buying houses because they ultimately have the control of what they can do with the property, and with condos, you own a box in what is one of many, so you’re a little bit restricted. So, I think condos have to be your style and it has to be what you want to invest in. But it comes down to personal preference at the end of the day.” – Mitch Parker 

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Ep.132 – Private Money with Susan Flanagan

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn why not to proceed with a joint venture at the beginning and go for private money instead 
  • Find out about the pros and cons of different refinancing options 
  • Learn what private lenders are primarily used for, especially to real estate entrepreneurs and investors 

Resources/Links:

Summary: 

Susan Flanagan has been investing in real estate for well over 25 years, and has done everything from regular buy and holds to student rentals to rent-to-owns, as well as many flips. She started lending her own money for mortgages over 12 years ago, so it was a natural progression to eventually become a Mortgage Broker so that she could connect lenders with borrowers on a regular basis. She is still an active investor but mainly focused on private lending these days. Susan is known as the “go-to person” when it comes to Private Money Lending. 

In this episode, Susan shares what a ‘private money lender’ is and how useful these lenders are to real estate entrepreneurs especially when investors don’t qualify for a bank mortgage. With a private money lender it’s fast and not much of a hassle. 

Topics Covered: 

01:30 – What is private money lending 

02:09 – Is there any difference between private money lenders and hard money lenders 

05:28 – What are the advantages and disadvantages of using different refinancing options 

08:03 – What do they need private money for  

08:33 – How to qualify for a private money loan 

09:33 – When do people usually use private money for first mortgages 

11:35 – Why do people get on JV partners at the onset when they could go through private money lenders 

12:51 – A logical reason as to why go for private money lenders rather than JV right away 

Key Takeaways: 

“Another good example of why real estate investors use private money is and I just did this on my last project. I took a second mortgage on one of my rental properties. I use that money for my down payment and my rental costs. And then I also took out the first mortgage on the purchase. All were private money again. And this is very expensive when you really work it in there. However, when I looked at all my numbers at the end of the day, I’m still making a decent profit once I flip the property.” – Susan Flanagan 

Sometimes it makes sense that people are using private money. First of all, it’s probably a lot less onerous to qualify. Second of all is probably, it’s a lot faster than jumping through all getting it through a big bank. And third of all, it’s when your debt ratio and all that kind of jazz that the banks are looking at don’t line up.” – Susan Flanagan 

There are many other reasons why you need private money. It could be a bridge loan, it could be you’re in the middle of selling, but then you need it. And it’s fast.” – Susan Flanagan 

“The biggest thing you have to qualify for is to show that you can pay it back. 

We want to know the story, the property, the exit strategy. I don’t care about your debt ratios. We don’t say we don’t care about your credit report. But if it tells me a story about your character that we don’t like, then I do care about it.” – Susan Flanagan 

“What I do suggest to a lot of investors though, don’t try to figure this out on your own. I say give me a call. And let’s brainstorm before you purchase it. And sometimes, getting a couple of people’s input prior is better than making the decision going in, no conditions, the works and then finding out this one isn’t a great property to even do this strategy with.”  – Susan Flanagan 

“It’s just another option for people to explore without assuming the only way to do it is to bring in a JV partner who qualifies for the mortgage.” – Susan Flanagan 

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Ep.130 – Ultimate Virtual Online Real Estate Investing with Laura Alamery

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about the tools and systems to automate your transactions to become more efficient in getting your leads and finding undervalued properties 
  • Find out how to run your real estate business by removing the day-to-day operations off yourself 
  • Find out the essential steps on how to get deals every time

Summary: 

Laura Alamery began in real estate in 1987 while studying in Honolulu, Hawaii. Also where she joined Dolman and Associates as an agent. She moved to Missouri after graduating in 1991, receiving her real estate Broker license in 1993 when she started her own brokerage company, Midwest Realty Corp. Her core business was flipping properties, with a management division for clients who purchased properties from her.

In 2001 she started a real estate investment club with a group of cash investors, buying and selling foreclosure properties. She quickly became very active in this sector in St. Louis, with an average turnaround of 40 buildings per year.

In this episode, Laura, who has been in the industry for decades-long, talks about reinventing her real estate business from being manually-led to an efficiently automated one. She uses tools and systems to run the day-to-day operations, thus, creating a business around her lifestyle and not the other way around. 

Topics Covered: 

01:22 – Transitioning to ultimate virtual online real estate investing model 

03:30 – What is it about wholesaling that makes it her primary focus these days 

05:02 – Reinvention has been her thing  

06:16 – What is wholesaling or flipping the contract is  

07:55 – Which money does she use to buy her properties 

09:07 – What is a virtual online real estate investing 

13:11 – Her advice to those just starting in real estate 

Key Takeaways: 

“One of the reasons I have thrived as a real estate investor over the years is because I always reinvented myself. If you don’t adapt yourself to the times and see what’s going on in the industry and position yourself in a competitive market, you’re going to be squeezed out of the market. That’s why it brings me here to talk about how we’re developing our systems nowadays.” – Laura Alamery 

“Wholesaling is really where heavily my market is because wholesaling can be done virtually very easily. It can be automated very easily. And then from that you can still pick property if you do want to buy and hold, or fix and flip.” – Laura Alamery 

“But it’s really about creating the business around your lifestyle, not the other way around. I see a lot of real estate investors struggling with this.” – Laura Alamery 

“Virtual online real estate investing is about using systems and things in place where you remove the day to day operations off yourself, meaning you don’t have to text or call or send letters physically.” – Laura Alamery 

“A successful real estate investor doesn’t go hunt for deals; the deals come to them. And so then I sat down and thought about my own experience. And I was like, ‘You know what, that’s right.” – Laura Alamery 

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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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