Category: VLOG (13)

We breakdown the four major sections of a multifamily conversion project; from the point of your accepted offer to handing the keys over to your new tenants!

 

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Volition is bringing back our REI Coffeehouse Chat!

Based on feedback from our clients and investors, you want MORE!

  • More networking
  • More Q&A time
  • More learning
  • More community
  • More like-minded people
  • More engagement…

And that a Meetup once a month isn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script.

Just an informal 1-hour Zoom call that you’ll actually want to join. Real people with real problems, and maybe the occasional guest speaker.

Send in your questions beforehand to info@volitionprop.com, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join anyway it’s FREE and a great opportunity to connect with other Toronto investors!

This month we talked about:

  • Learning the leasing process
  • The complexities of choosing the best layout for a basement apartment… unsurprisingly, it depends!!
  • Reviewing market updates
  • JVs

Watch the full recording below!

Attention aspiring investors! Ming takes us on a property tour and shares the details of why it works and what needs to change to make it a strong long-term hold.

While it’s not a straight investment property, it is set up well to help subsidize cost of living, or as a first rental property to get in and build equity.

Why It Works!

– Location: Located in East York in the Blake-Jones neighbourhood the property is 10-minutes from the subway. The area attracts a good tenant profile, allows for good rents, and has quick access to public transit, which is key!
– Ceiling Height: The ceiling heights are excellent which means no underpinning required.
– Not Turnkey: This was advantageous because it didn’t come with a turnkey price tag.
– Layout: The property is already subdivided and offers two units with their own separate entrances.

What It Needs!

– A whole new kitchen
– New flooring
– Updated exterior and new railings
– Back deck to create more outdoor space
– Landscaping and a fence to close off the yard

Want to learn more about investing in Toronto?
Volition offers a free Advisory Session – email us at info@volitionprop.com to get started!

 

For this coffeehouse chat, we touch on:

1. How to compare a real estate investment to other asset classes (like Mutual Funds, RRSPs, GICS, bonds, etc.
2. Secondary suites. Zoning & fire compliance, etc.
3. Short term rentals. Rental strategy viz a viz wanting to move back in to use as Primary Residence.
4. Going “green” to reduce hydro bills.
5. Should I legalize my triplex?
6. How to analyze preconstruction condo’s cashflow analysis?

You can access the web chat video here 

It’s that time of the month – the FREE Monthly Online “Real Estate Investing Coffeehouse” Web Chat! Based on feedback from our clients and investors, you want MORE! More networking, more Q&A time, more learning, more community, more like-minded people, more engagement… And that a Meetup once a month wasn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

 

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script. Just an informal 1hr online web conference chat that you can log into from your computer during your lunch hour … not too much different than if you were meeting a friend for a coffee at a nearby coffee shop. Just real people with real problems, and maybe the occasional guest speaker. Send in your questions beforehand, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join the web chat anyway because you can join from your computer!! (and it’s FREE!!)

 

The REI Coffeehouse will be using Zoom.us, so have your laptop’s webcam and microphone on to join the web chat. And we’ll be screen recording it and posting each REI Coffeehouse Chat on our website, along with our Monthly Meetup content.

For this coffeehouse chat, we touch on:

• Executive Rental Strategy with Triplexes
• Operationalization of your real estate business
• What does it take to be the best landlord in Toronto? Personally, I’m always interested in out-performing my neighbors not just the marketplace index
• What can I do (besides renovate my unit) to attract and retain premium clients?
• Which listing websites should I be using? Viewit.ca, Craigslist, Kijiji, AirBnB, Condo.ca, padmapper, torontorentals.ca, etc?
• rental application fee
• move-in fee
• criminal record check
• credit check
• allowing pets (and what is the best way to screen pets?)
• cleaning services included
• parking included
• utilities included
• internet included
• furniture included (I hate the thought of tenants destroying my newly reno’d property with all that back and forth)
• how often do you recommend checking in on the unit/tenant…. how often is too much
• general communication expectations
• Understanding the service expectations of my customer and their willingness to pay for those services is really important to me. I hope you’ll consider this topic.
• Have a corner lot house in north York by a four way stop that I want to add a second driveway. Typically how far from the intersection does it need? Where do they start measuring from?
• Off market deals
• You guys talk a lot about how you don’t invest in areas outside of the Toronto core (Hamilton, Waterloo, etc) I was wondering if you could elaborate more about that on why and if you had any anecdotes. Is that the same even if it’s a targeted purchase like student housing in a university town
• Between executive rentals and triplexes, the investment types i’ve seen you guys talk about tend to be on the higher end, for someone who’s just starting out and doesn’t have 800k cash, what is a strategy that you would suggest for a lower budget? (Or is there none and you should just save up more money)
• MONEY IS ONLY A ROADBLOCK IF YOU BELIEVE THAT IT IS A ROADBLOCK
• TVS Tenant Screening Servicestenanverification.ca
• what price point would you be looking at for a condo to start off

You can access the web chat video here 

It’s that time of the month – the FREE Monthly Online “Real Estate Investing Coffeehouse” Web Chat! Based on feedback from our clients and investors, you want MORE! More networking, more Q&A time, more learning, more community, more like-minded people, more engagement… And that a Meetup once a month wasn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

 

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script. Just an informal 1hr online web conference chat that you can log into from your computer after your dinner time (7pm-8pm)… not too much different than if you were meeting a friend for a coffee at a nearby coffee shop. Just real people with real problems, and maybe the occasional guest speaker. Send in your questions beforehand, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join the web chat anyway because you can join from your computer!! (and it’s FREE!!)

 

The REI Coffeehouse will be using Zoom.us, so have your laptop’s webcam and microphone on to join the web chat. And we’ll be screen recording it and posting each REI Coffeehouse Chat on our website, along with our Monthly Meetup content.

For this coffeehouse chat, we’ll be focusing on Triplexes Conversions! We’ll touch on:

  1. The triplex business model and why it makes sense
  2. How much capital is required? (Hint: It’s not for a beginner, but it’s well worth it!)
  3. What we look for in a property. What are the key physical aspects that make a property a good candidate?
  4. How to estimated construction costs
  5. Navigating the approvals process (permits, committee of adjustments, etc.)

 

You can access the web chat video here 

It’s that time of the month – the FREE Monthly Online “Real Estate Investing Coffeehouse” Web Chat! Based on feedback from our clients and investors, you want MORE! More networking, more Q&A time, more learning, more community, more like-minded people, more engagement… And that a Meetup once a month wasn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

 

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script. Just an informal 1hr online web conference chat that you can log into from your computer during your dinner hour (7pm-8pm)… not too much different than if you were meeting a friend for a coffee at a nearby coffee shop. Just real people with real problems, and maybe the occasional guest speaker. Send in your questions beforehand, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join the web chat anyway because you can join from your computer!! (and it’s FREE!!)

 

The REI Coffeehouse will be using Zoom.us, so have your laptop’s webcam and microphone on to join the web chat. And we’ll be screen recording it and posting each REI Coffeehouse Chat on our website, along with our Monthly Meetup content.

This is a new format, so we are going thru the learning stages of how to best make this work this work. The mandate for this is just that I kept hearing that Volition clients and Meetup attendees just wanted more opportunities to grow, to network, to learn from each other, to get their questions answered, and to share experiences both good & bad. So… it’s really informal right now. For now, I’m just going to run this as an AMA – Ask Me Anything. You can ask your questions, and either I can try to answer them or I can call upon others on the Webchat to share their experiences. Cool? No holds barred! Every question is fair game!

You can access the web chat video here 

Volition is starting a FREE Monthly Online “REI Coffeehouse” Web Chat! Based on feedback from our clients and investors, you want MORE! More networking, more Q&A time, more learning, more community, more like-minded people, more engagement… And that a Meetup once a month wasn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script. Just an informal 1hr online web conference chat that you can log into from your computer… not too much different than if you were meeting a friend for a coffee at a nearby coffee shop. Just real people with real problems, and maybe the occasional guest speaker. Send in your questions beforehand, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join the web chat anyway because you can join from your computer!! (and it’s FREE!!)

The REI Coffeehouse will be using Zoom.us, so have your laptop’s webcam and microphone on to join the web chat. And we’ll be screen recording it and posting each REI Coffeehouse Chat on our website, along with our Monthly Meetup content.

We will be scheduling our REI Coffeehouse Chats thru Meetup.com (www.meetup.com/Volition), so make sure you go there and sign up to get notified of the next one!

What do you think? Will you be logging on and joining us to talk about all-things-real-estate??

(1. Also, if you have any suggestions on the format, content, etc., let me know by posting it below!)
(2. If you have a suggestion on the SPECIFIC TIME other than the planned 12pm-1pm, also let us know by posting it below!)

Volition is starting a FREE Monthly Online “REI Coffeehouse” Web Chat! Based on feedback from our clients and investors, you want MORE! More networking, more Q&A time, more learning, more community, more like-minded people, more engagement… And that a Meetup once a month wasn’t enough! Volition’s mandate has always been to remove obstacles and roadblocks… and now the REI Coffeehouse will solve this problem!

Why did we call this a “Coffeehouse Chat”? Because the format is simple. No format. No presentation. No script. Just an informal 1hr online web conference chat that you can log into from your computer during your workday lunch hour (12pm-1pm)… not too much different than if you were meeting a friend for a coffee at a nearby coffee shop. Just real people with real problems, and maybe the occasional guest speaker. Send in your questions beforehand, and then we’ll chat about them and answer your questions with everyone else on the line… others may even jump in with their own input or experiences. Even if you don’t have a specific question, join the web chat anyway because you can join from your computer!! (and it’s FREE!!)

The REI Coffeehouse will be using Zoom.us, so have your laptop’s webcam and microphone on to join the web chat. And we’ll be screen recording it and posting each REI Coffeehouse Chat on our website, along with our Monthly Meetup content.

We will be scheduling our REI Coffeehouse Chats thru Meetup.com (www.meetup.com/Volition), so make sure you go there and sign up to get notified of the next one!

What do you think? Will you be logging on and joining us to talk about all-things-real-estate??

(1. Also, if you have any suggestions on the format, content, etc., let me know by posting it below!)
(2. If you have a suggestion on the SPECIFIC TIME other than the planned 12pm-1pm, also let us know by posting it below!)

 

Topics that we discussed:

  • Any new mtg products for investors?
  • I’m just hear to hear about the issues some people are having. Thanks for having me!
  • How to structure the legal entities on both sides of the border when investing in US market?
  • I there any hacks to save capital gain like 1031 exchange in Canada?
  • what markets are you looking at for student rentals
  • Hi Matt, what are your thoughts on commercial real estate? Do you own any commercial real estate? If yes, what factors/variables do you consider before buying? Thanks.
  • Do all the property analysis calculators and percentage rules mainly available through US based websites are also applicable to Canadian property market? Any exception or additions to rules what one should remember for Ontarios expensive market?
  • Where can I see GTA deals for practicing property analysis if I have not yet approached a realtor.
  • How can one become a part of some syndicate deal and is it even something a newbie should get into? Can you give some examples of how it works.
  • If I am trying to invest in SF homes in Ontario, how can I safely invest and have 10 mortgages under individual name without legal issues. How can I protect myself from any liability in cases of accident or mishap at the property  either due to the renters fault or no fault.

You can access the web chat video here 

34 joined our first ever REI Coffeehouse Webchat!!  About 20 stayed for the entire time, and 11 stuck around at the end to fill out a poll.  Pretty positive response… Most people rated it between 8-10 (out of 10)!!  And 10 out of 11 people said that they would join again.  I myself thought it was kinda boring, but maybe that was because I was staring into a blank sea of black screens (most people kept their webcams off) and so it kinda felt like I was talking to myself!!

Topics covered:

  • AirBnb (and possible tax implications)
  • Executive Fully-Furnished rentals
  • Condo Assignments
  • HELOCs
  • “Flipping to yourself” as a strategy
  • Including/excluding utilities in rents
  • Property Management

 

 

You can access the web chat video here 

 

 

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