Category Archives for "Real Estate Investment Coaching"

A million-dollar TFSA, https://business.financialpost.com/personal-finance/taxes/the-road-to-the-million-dollar-tfsa-is-getting-shorter-for-millennials, sounds great except I’m not 100% convinced about these assumptions: a) earning 4.7% yearly, compounding annually, b) continuing to put in max $$$ every year for 47-consecutive years without fail. There are simply too many ups & downs over a lifetime. But, say you buy a half double like one of […]

There are some benefits to getting older. You tend to have more patience and perspective; you tend to make better decisions and, consequently, make fewer mistakes. After I left the Sens, I wanted to figure out what to do next and, at the same time, my spouse, Dawn Mac Millan Firestone, was training to become […]

I usually don’t really like rent-to-own (R2O) models either from an investor’s POV (point of view) or from a client’s POV. From a client’s POV, it’s an expensive way to buy property; they have to pay all of the costs of the property including mortgage payments, property taxes, insurance (tenant and landlord insurance), all repairs/maintenance, […]

[The problem with low appraisals] I am frustrated that Canadian real estate entrepreneurs have so few options when it comes to financing their projects. My friend, Matt Slobodian from Canada ICI wrote this: The regulatory framework in Canada focuses on safety and soundness (it is federally regulated via OSFI, which implies higher standards) whereas the […]

I coach some fantastic entrepreneurs in the US, Canada and elsewhere. However, there is an experience common to entrepreneurs the world over except for the US. Their business ecosystem is different. I wrote to a Canadian woman I coach who runs a real estate portfolio focused on Airbnb and student rentals who is expanding her […]

The story of Tamworth, a small town in Ontario “Animation” is a term I use to describe ways of adding new revenue streams to an existing property. For example, clients of mine are adding storage sheds, backyard workshops, basement apartments, backyard coach houses, play areas (things like outdoor ping pong tables), private patio areas, outdoor […]

[Another GaVinci Report by Corey Oliver] Pivot – in the business world it means to shift. To move to Plan B when Plan A isn’t working. It’s the art of recognizing change in a market or industry before the impact of those changes can damage a business or organization. The challenge is recognizing WHEN to […]

Substantial completion (aka, substantial performance) in real estate is usually defined this way: When approximately 97% of work outlined in a construction contract is done. This milepost is crucial in this industry for a number of reasons: a) so, a contractor can get paid out without having absolutely everything done, b) so, an owner can […]

(Excerpt from Don’t Back Down, the real story of the founding of the NHL’s Ottawa Senators and why big leagues matter) The most profitable businesses are either illegal (like drugs) or government-owned like property taxes, alcohol distribution (at least in Ontario and Quebec), utilities and lotteries (plus drugs, if you count legalization of cannabis in […]

As someone who has tackled hundreds if not thousands of projects, I know the difference. It’s why now as a real estate investment and business coach, I preach using biz models instead of doing “projects.” In my day, I created over 1,200 home sites in multiple subdivisions, dozens of office buildings and shopping plazas, started […]

This is the wrong questions to ask. Why? Because every entrepreneur knows how to pull endless rabbits out of his or her hat. So, what is the right question to ask? How do we turn a cost center into a profit center? This is what we did at Dunrobin Lake. We got permission from MNR […]

Yeah, right. In an alternate universe, maybe, but in Ontario, land of the RTA, residential tenancy act, it’s hard for landlords to acquire vacant possession. On behalf of a coaching client, I recently reached out to Brian Dagenais, founder of Dagenais Properties, and an expert property manager, for his advice on this subject. Here’s the […]