If you missed it, here’s Sean McCormick, expert mortgage broker, and Bruce M Firestone, real estate investment and business coach, on CFRA 580’s Experts on Call along with host Dave Watts…
“I listened to Bruce on Experts-on-Call. I really enjoyed it. It was awesome for real estate investors just starting out. I especially liked the idea of finding one type of real estate you are really good at it and then sticking to it—repeating it over and over and getting better with each iteration,” Rob Lamontagne, owner of 36-doors, RTO (rent-to-own) specialist and coach
We covered off how to create and finance an above-average real estate portfolio that will take care of you and your family for 3-generations.
What was discussed?
-why use a mortgage broker like Platinum Mortgages, https://platinummortgagesottawa.com/
-what is the advantage of using a mortgage broker who has their own private fund like Castlebay Alliance
-a case study of Paul, who had his mortgage unfairly revoked a few days before completion and what was done to fix the issue
-why a $500,000 purchase of a duplex isn’t like a $500,000 tech startup–it has a much lower risk profile
-what’s happening in Ottawa’s super hot real estate marketplace and why
-a case study of how Mimi went from renting for $1,000 a month to owning her own home with a 1-bedroom, lower level, walkout, rental apartment, which brought in enough income so that she could live in her own place for just $600 a month
-why amortization is your best friend and how you can refinance your property to become a real estate mogul!
-your minimum program is to own 4, 5 or 6 residential rentals and to generate from $10,000 to $15,000 a month in net operating income so you don’t have to rely on your on your CPP (average of $555 a month) in Canada or social security in the US (average of about $1,230 a month)
-Warren Buffett strategy applied to real estate–buy ‘n hold
-why house prices are taking off in many cities
-how this impacts first time homebuyers and why they need to make their principal residences an asset (by having some rental income from a basement apartment, a roommate, a microsuite, a backyard workshop, or other animations, ie, adding new revenue streams) not a liability
-it’s not what a thing costs that is important, it’s what it makes
-finding your why
-what is a business model and how does it apply to real estate investing
-Ray and Tammy’s story
-why so many women are discovering real estate investing
-what the heck is “Mad River” financing–a marriage of investors with money but no time and real estate entrepreneurs with time, skill but not a lot of $$$
-why is trust so important
-what is a cap rate (capitalization rate)
-what are the three main returns in real estate
-why investors always beat savers
-a few Sens (NHL’s Ottawa Senators) recollections
Thank you also to Bell Media account executive Tracy Cole and producer Chris Wyss.
FOR REAL ESTATE INVESTMENT AND BUSINESS COACHING THAT’LL HELP YOU PROVIDE FOR YOURSELF AND YOUR FAMILY FOR 3-GENERATIONS, PLEASE CONTACT:
Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
Real Estate Investment and Business coach
ROYAL LePAGE Performance Realty broker
Ottawa Senators founder
• MAKING IMPOSSIBLE POSSIBLE
• FREEDOM VIA REAL ESTATE INVESTMENT AND PB4L, PERSONAL BUSINESS FOR LIFE
• FEHAJ, FOR EVERY HOME A JOB
• MAKE YOUR HOME WORK FOR YOU, INSTEAD OF YOU WORKING FOR IT
• HIGHER ROI NOT JUST FOR OWNERS AND INVESTORS, BUT FOR TENANTS, GUESTS, VISITORS, NEIGHBORHOODS, COMMUNITIES, TOWNS, VILLAGES, CITIES AND THE ENVIRONMENT TOO
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