Save the date! Our next Live Virtual Workshop will be on February 26, 27 & 28, 2021

A 735% Cash on Cash ROI on his first apartment building! A GRAND SLAM!

success story Oct 29, 2020
 

I wanted to share another success story with you from a graduate student of mine, Tony Dinh, who took my very first 2-day live workshop back in 2011.

The above video is an excerpt from my interview with Tony. He and I had not connected since the workshop.

All pumped up after attending my workshop, Tony Dinh went out and bought his first 8-unit apartment building in Calgary with a $100,000 in down payment for a purchase price of $576,000 with seller financing. At $72K/door, the property was well under market value for the City of Calgary and I know many investors looking at that property might have passed on it!

Not Tony!  

It resulted in an 735% cash on cash return on investment (including principal paydown and cash flow) in just seven and a half years when the City bought the 8-plex for $1,260,000 as part of an expropriation process to build a light rail train system.

 This is a game-changer for his young family!

Tony is a first generation Canadian from boat people from...

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The State of the Mortgage Market for Multifamily Properties - Interview with Mortgage Broker.

mortgage broker Oct 25, 2020
 

In this post, I talk to Nadeem Keshavjee, a mortgage broker with Canada ICI, about the state of the mortgage market for multifamily properties during COVID-19.

Nadeem will be attending my upcoming virtual workshop from October 30 to November 1, 2020.

He indicated that since the beginning of the pandemic in March 2020, more funds were available for apartment buildings for CMHC-insured financing than from conventional lenders (non-CMHC-insured). Because of that, CMHC was hit with an immense surge of financing applications which resulted in very long turnaround times up to three months. 

As a result, last summer, CMHC issued guidelines restricting the use of funds on refinancing applications, or equity take-outs (see our blog post dated September 22, 2020) as a means to reduce the volume of applications.

Interest rates for CMHC-insured financing for quality borrowers and assets and in large centres for loan amounts in the range of $5M to $10M can be in the low 1% range and around...

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SUCCESS STORY! Young Family On Their Path to Financial Freedom with First Multifamily Investment!

success story Oct 22, 2020
 

Recently, I just reconnected with one of my graduate students Zorya Belanger, who took my live Canadian Multifamily Investing Blueprint workshop three years ago.

Using the knowledge I shared with her and armed with courage, she and her husband took action and acquired their first multifamily property, a brand new six-plex.

Above is an excerpt (6.54 min.) of my interview with Zorya. 

Click HERE to listen to the full interview.  I highly recommend you watch the full interview, especially if you're starting out to invest in multifamily properties. There are a lot of gold nuggets!

Although they initially set out to look for a larger existing apartment building in the range of a ten-unit or so, a different opportunity came their way with this brand new three townhouse project with each one having a separate one-bedroom suite below, but all units are above ground.

There are many things I like about their strategy, namely they remained nimble and seized a different...

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Big Fire in my Apartment Building! Let's talk insurance coverage!

Uncategorized Sep 30, 2020
 

Can you believe that last summer, I had two fires in two separate apartment buildings of mine just a month apart?

Crazy!

One of those fires led to a spectacular rescue of one of my tenants by a couple of utility workers who happened to be driving by my property with a ladder on the back of their truck.  They grabbed their ladder and saved my tenant who was about to jump off her balcony to escape her unit which was engulfed in flames and heavy smoke!

The rescue made the tv news headlines that day!

Out of twenty units in my property, sixteen of them have to be completely redone!

So in today's post, I'm talking about insurance policy requirements for your multifamily properties.

Cheers!

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No! The Sky Is NOT Falling in the World of Multifamily Investing! On the Contrary!

Uncategorized Sep 22, 2020
 

In this post, I talk about the current state of the multifamily investing world in Canada and the mortgage market despite the challenges of the COVID-19 pandemic.

It's GOOD NEWS!  The sky isn't falling. On the contrary!

Apartment buildings continue to be a strong asset to invest in, especially in times of great uncertainty such as those we're living in.

I also talk about the Canada Emergency Business Account (CEBA) which is a $40K interest-free loan the federal government is offering and of which $10K is forgiven if you repay the loan prior to December 31, 2022.

The government has extended the deadline to apply to October 31, 2020. 

You must apply for CEBA through your financial institution. Below is the link for more details on CEBA.

Link for Canada Emergency Business Account (CEBA)

Best regards,

PP

 

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Breaking News from CMHC! + Only a few days to Register for My Virtual Workshop June 5, 6 & 7

Uncategorized Jun 02, 2020
 

Hi everyone,

I hope you and your family are healthy and safe. Crazy times, indeed!!!

I shot a quick video about a breaking news from my former employer, Canada Mortgage and Housing Corporation  (CMHC) which yesterday issued a 'special measure' to essentially prohibit equity take-outs for the purpose of repaying shareholders back when refinancing. 

Here are links to:

1) summary from First National on the new measure: FIRST NATIONAL SUMMARY

2) CMHC's Q & A on the SPECIAL MEASURE.

Plus, you still have time to register for my upcoming virtual ZOOM workshop this coming weekend starting Friday night, then all day Saturday and Sunday, June 6 & 7, 2020.

This is a special covid-19 price of $1,997 (incl. taxes) which includes not only access to the 2-day virtual workshop and all my personal tools I use to invest in multifamily properties, but also lifetime access to the online version of the workshop and all future upgrades. I usually sell this combo package for $3,497...

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Preparing a Professional Personal Net Worth Statement (PNWS) - Free Training

Uncategorized Apr 16, 2020

As promised, I'm sharing with you a lesson (7-minute video) from my online course, the Canadian Multifamily Investing Blueprint on how to prepare a 'kick-ass' personal net worth statement that likely lenders will require from you if you decide to apply for CMHC's mortgage payment deferral program.

Here is the link to that video.

Video on How to Prepare a Personal Net Worth Statement

Wishing you and your family health!

PP

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How To Prepare to Get Federal Relief for Business and Multifamily Owners

Uncategorized Apr 12, 2020

In this video, I share more details about the federal relief programs which are available for entrepreneurs and apartment building owners and what I'm personally doing.

I have also corrected the links in my previous list of resources.

Here is a link with all these resources: Corrected Links to Federal Relief Programs & Other Resources

Starting this coming week, I'll start doing a series of FREE LIVE TRAINING ON FACEBOOK. The first session will be on how to prepare your personal net worth statement (PNWS) which you're actually going to need in order to get CMHC's mortgage payment deferral.  This is actually a lesson in my online course, the 'Canadian Multifamily Investing Blueprint'.

If you want to be notified when the free training will take place, please just like my Facebook page at facebook.com/multifamilyinvestingcanada/.  The training sessions will also be recorded.

Wishing you health to you and your family.

PP

 

 

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BUSINESS TIPS AND ADVICE FOR ENTREPRENEURS AND MULTIFAMILY INVESTORS + GREAT RESOURCES

Uncategorized Apr 10, 2020

Hi!

I hope you and your family are doing well in these difficult times and that you're all healthy.

I  shot this video with for you a while back during a Facebook live session but forgot to post it in my vlog.  In this post, I share some great tips for all entrepreneurs, not just multifamily owners.

All the federal programs I mentioned, including the list prepared by my accountant, are included in the link below.

Federal Relief Programs & Other Resources

As I come across more useful resources and tips, I'll continue sharing them with you.

Since many of us spend more time online, I'll be sharing a lot of free training online over the next few weeks and months.

Keep in mind, as I say in the video, after every crisis there are always great opportunities, including for multifamily properties, which is a very resilient asset class, especially in challenging times.

Stay healthy,

Pierre-Paul

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Breaking News from CMHC: 6-Month Mortgage Payment Deferral Program & Links to Federal Programs Available

Uncategorized Mar 25, 2020

Hope you and your families are doing well.  Below are some tools to assist you.

Good news for multifamily properties (5+ units) insured by CMHC. CMHC will allow approved lenders to defer up to six monthly mortgage payments (principal and interest) for borrowers impacted by COVID-19.

Here are the links:  CMHC Cover Note and Eligibility Criteria

CMHC's Questions and Answers

And here are links for the Federal Government's Relief programs put together by my accountants.

Federal Relief Programs

First National COVID-19 Guidelines

The "Scary Times" Success Manual (10 great advice)

Be well!

Pierre-Paul

 

 

 

 

 

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