Plumber buys a 24-unit apartment buildingOct 01, 2021
I’ve been investing in apartment buildings since 2004 and teaching real estate investors across Canada how to do it since 2008. The one thing I have noticed time and time again when it comes to what stops people from investing in multifamily properties is their MINDSET!
Henry Ford, yup that Henry Ford who started the automobile Ford company once said:
“Whether you think, or you think you can't, you’re right!”
Those who succeed in achieving higher goals are those who never take no for answer. John Lerat, as you’ll quickly realize in this video interview, is one of those people.
John didn’t have any particular skills other than being a hard-working plumber. He dabbled in real investing in small rental properties (defined as 1 to 4 units properties) but he knew that larger multifamily properties were the way to go.
How did he know that?
Well! He and his sons, who are also plumbers in his plumbing company, were responsible for doing the plumbing maintenance for 16 apartment buildings in the City of Regina in Saskatchewan. There was this one particular multifamily owner who had started with owning four multifamily properties, and now he owned sixteen of them.
John said to himself:
“Jeeze! This guy is doing pretty well! I wonder how I could get into it myself!”
And he would not take no for answer.
So, he started by educating himself by taking my training programs and a few months later he closed on his first multifamily deal, a 24-unit property in Regina, which was a private sale with one of his plumbing clients.
There are a lot of gold nuggets in this interview about how John did it and closed on this private sale!
Enjoy the interview.