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A community to level up your life! We are dedicated to supporting entrepreneurs create value in our society: entrepreneurs who start or acquire businesses, real estate investors. There are 3 main areas to our support: business, health and relationships. Click this link to schedule a call and see if the community would be a good fit for you! Aurélien Bonin Founder, The Real Estate Coaching Circle Mastermind Supporting entrepreneurs' growth https://calendly.com/boninaurelien/15min http://www.t ...
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I use daily affirmations to enlarge my horizon I use daily affirmations to influence my mood and my mindset I put myself in a frame of mind that is positive, welcomes difficulties as opportunities to grow, learn and become a better business man I frame the difficult projects I am dealing with in terms of I will overcome/succeed to remove the doubts…
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Not many people know what a real estate investor is Part I like least is landlord aspect so I don't discuss it I enjoy finding deals, negotiating, coming up with a business plan I don't really take investors' money so I don't try to talk about what I do I am a little more excited now to talk about what I do since it has to do with development and a…
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The biggest mindset shift for me was moving away from secure government job to real estate investing I remember wanting to work as a civil servant for the French government, ideally at university level, job security, vacations and pay cut when I purchased my first property, took some mindset shift. I educated myself but also spent some time in pray…
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I get that feeling sometimes, have a lot of irons in the fire break it down! Technique I used to use as a teacher with my students make a list and assign importance numbers and look at what absolutely needs to get done otherwise make sure the important stuff doesn't get forgotten because of the whirlwind, see The Four Disciplines of Execution by by…
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Discussion about hiring a VA: create list of tasks, explained through videos and get VA to do the tasks Will allow you to scale and focus on the important tasks, decisions making, you delegate the actual work so you can focus on the business itself, working on and not in the business VA: stay at home parent, hired for several hours a week or from a…
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Limiting beliefs - price of real estate I would look at | it takes the same amount of effort: underwriting, due diligence, capital raise: you can bring on partners for the raise | legal fees are similar | easier to manage: elect a tenant superintendant, bring in PM company, 1 roof, 1 boiler, 1 parking lot to plow | How do you push through: affirmat…
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relationship to the phone: many tools, work: text contractors and email property owners, entertainment, social media and time consuming | system, there are no true emergency where I can do something, the person needed is the contractor and worst case scenario the fire marshal or an ambulance | | I am available between 2-5pm Mo-Th for non emergencie…
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intro = at the core of any business endeavour, any role with responsibilities: you solve problems. It is no different with real estate you buy problems, problem properties in CRE and residential: vacancy, under market rents and your business plan describes how you will be fixing them | I was reprimanding my contractor recently for using the word ni…
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slow and steady wins the race | | | qualify for the initial property with your current job | | Find private lender to continue to grow | | Refinance with a bank | | Quit your job once you have replaced your income | syndication | | | educate yourself | | join mastermind groups | | invest alongside someone else to learn and build a trackrecord | | t…
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opportunity to improve the property and bring it to market have enough savings so you don't run out of cashflow with 10-15% vacancy outrun the competition time to schedule viewings: I have systems in place but stay involved in screening: potential property to buy and know what questions to ask when screening a tenant I like to ask tenants what they…
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this famous saying: "Your network is your networth" but not only from a materialistic perspective: if you have deals and connections you can find investors the more connections you have the more chances you have to find solutions to your problems you can use social media: LinkedIn, Facebook, meetups, covid is tough but it makes it eeasier to connec…
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Atomic habits: add habits to each other or stack them: swim, meditate for 30 min, listen to CRE podcast on the way back and forth system with accountability buddy: track 3 things, 1 habit 30 lengths at the pool, 1 professional task and 1 personal task gratitude list translate goal into daily habitsBy The Mindful Investor
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Dan Sullivan "Who not How" I started delegating the direct interaction to be in charge of my time so I get the messages in the afternoon so I can work uninterrupted in the mornings I am still the one calling the shots and handling the contractors so that I know what's going on Tenant are the front row consumers and the clients that need to be looke…
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Consumer Price Index | hedges against inflation: gold, real estate | | equity in a home increase as price of asset increases | multifamily: shorter leases ie possibility to increase rents | triple net property: increases are passed on to the tenant | Oct 20: 18 year high in Canada at 4.4% | inflation - the rate at which consumer prices rise | corre…
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Multifamily & Industrial | | information asymmetry to find deals | Increase in NOI will go way further | | | Expand one's horizon: CRE and other asset classes, created a group on fb and on meet up where the focus is on commercial, we have people specializing in all asset types and we talk business and are even thinking of investing together | | |…
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Me: real estate portfolio, get paid from rent collection Haven't monetized anything else: coaching, podcast, not really advertised but more present online so people know what I am doing in case real estate is of interest to them Starting to let people in on my deals, syndication: starting small, weekly call with a friend who had the same mentor: ho…
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house hacking to get started in real estate investing: you buy a house and rent out bedrooms in that house so others pay down your mortgage and you live free, building equity and with a property that potentially appreciates in value bought a house with basement unit but we now use it for family when they come to visit after bad experiences: weed de…
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lots of advantages to owning: you build up equity through mortgage pay down and appreciation in Ontario, can refinancing or take a heloc and use the funds to invest, can sell tax fee personally, if I didn't have a family I may rent so I don't have all the upkeep to do or live in a condo where everything is taken care of for you so I can focus on my…
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ocean of free and great resources out there: books, podcast, lots of thought leaders make knowledge available for free limiting beliefs: think big, delegate, partner up instead of thinking small, proverb: alone we go faster, together we go further lack of knowledge is a big hurdle but with democratization of knowledge it is becoming easier discipli…
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be diligent, download an exhaustive DD checklist online and read all you need to read on the matter, CRE can be demanding with lease agreements but be thorough and look at the small print | | what to look for = rent bumps, who pays for what, when is it renewing which will determine financing | get quotes from reputable contractors on the structural…
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Second mortgage, recommendation to not approach with this right away you would lose credibility otherwise, I wouldn't look down on people who get second mortgages, better to invest some money Becomes easier the more you do it and invest either in a specific area or gain experience investing in an asset class "Creative financing", where numbers meet…
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entrepreneurs tend to have lots of ideas and can be scattered a good entrepreneur is not someone who has a great idea but someone who executes well or surrounds him or herself with a team to execute well tools to stay focused: Focusmate Daily accountability coach Accountability partners for different projects: sponsor / MHP development / business g…
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$10k invest in your education/training, take a course or hire a mentor, somebody who has walked the walk or is still walking it and sharpen your skills, network and find partners. More creative and more self-reliant: live off the $10k and work full time on your skills: look at deals in the morning, listen to podcast in the afternoon, read books at …
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2 scenarios 1. enough for a downpayment - research a market where the numbers make sense with job and population growth - BRRR strategy: purchase a problem/value-add, refi and repeat to slowly grow a portfolio 2. not enough for a downpayment - sharpen your skills: listen to podcasts, look at deals daily, make connections with real estate agents so …
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