I came across this great little tool called 'The Scary Times Success Manual' by the amazing business coach, Dan Sullivan. Dan originally created this manual during the climate of fear following 9/11 and in it, he shares ten strategies for dealing with uncertainty and turbulent times.

The world-wide COVID-19 pandemic definitely falls into the category of highly uncertain and turbulent times.

Although the manual was designed for entrepreneurs, most of Dan's advice is spot on and applies to the current pandemic. It's a short two-page read well worth it!

This is my humble way to help out and I will continue to share whatever other tools I come across that may help you, including, of course, stuff to pertaining to multifamily properties.

I wish you and your family well!

Pierre-Paul

CLICK ON THE PICTURE BELOW TO DOWNLOAD THE SCARY TIMES SUCCESS MANUAL.

When conducting due diligence when purchasing an apartment building, one of the critical steps is to obtain an environmental site assessment or ESA. All lenders and CMHC will require you to get an ESA Phase 1.

The purpose of a Phase 1 ESA

Phase 1 ESA is to identify actual and potential site contamination. It looks at the current use of the property and its history.

In this post, I discuss what's in an ESA. The ESA is done by a qualified engineer and you would normally only need a Phase 1 ESA done unless an environmental site contamination potential is found and which case you need to get a Phase 2 ESA, which could be problematic.  A Phase 3 ESA would deal with the remediation of the site contamination.

YOU MUST TREAD CAREFULLY!

Lenders and CMHC have a huge stigma attached to site environmental contamination and you could run into a lot of problems and be unable to get financing if the site is contaminated.

Banks and CMHC require a 'CLEAN PHASE 1 ESA'!

To know more watch the...

In this post, I discuss the importance of the 'STABILIZATION PROCESS' when investing in apartment buildings. By stabilization, I mean  'maximizing the performance of the asset', namely by maximizing income and reducing operating expenses in order to maximize the NET OPERATING INCOME or NOI.

WHY NET OPERATING INCOME IS IMPORTANT

I always tell my students that NOI is their BEST FRIEND!  As investors, our job is always to achieve the highest NOI possible as the value of the asset is driven by the income the property generates.

I hope you'll find this post useful.

Please, leave comments and tell me if there are specific topics you'd like me to talk about in future vlog posts.

QUICK REMINDERS: 

FACEBOOK LIVE FREE TRAINING SESSION - Thursday March 19, 2020 at 1 pm MST

I'll be doing an hour-long or so Facebook Live Sessions on the topic:  'The Magic of Cap Rates Explained'.  Be sure to catch the replay if you cannot make it as I'll be demystifying cap rates...

In this short vlog post, I share quick and easy tips, with examples, on how to BE IN THE KNOW in areas that matter to real estate investors.

It's critical for real estate investors to monitor things that can have an impact on their investments, be the mortgage market, key financial indicators, the geo-political situation, etc..

In this post, I share with you examples on how I personally do this.

P.S. Registration for my 2020 Canadian Multifamily Investing Blueprint workshops is now open with early bird pricing in effect.

REGISTRATION FOR 2020 LIVE WORKSHOPS 

Pierre-Paul

SEE BELOW FULL TRANSCRIPT OF VIDEO:

It's Pierre-Paul Turgeon here, Canada's Multifamily Investing Authority and as you probably know, former insider!  That's right, I used to be with an apartment building with Canada Mortgage and Housing Corporation and in today's short vlog posts, I want to share with you some tips and examples on how to BE IN THE KNOW, as in knowing something in areas that can make you a...

Hi,

In this vlog, I answer a supplemental question from one of my online students related to my previous blog post on how to figure out how much to pay for multifamily properties.  In that post, I mentioned that investors needed to get data on recent sales for comparable ('comps') properties they're looking at purchasing to see the range of prices they're currently trading at.  My student asked where he can find comps in his market and I answer this question in this post.

In addition, I also share a couple of tips on where and how to find apartment buildings to purchase.

To your life's success and fulfillment!

Pierre-Paul

A couple of students of mine in my online course 'Canadian Multifamily Investing Blueprint' asked me the following great question:

" If a building is over-priced in a realtor’s listing, how do you figure out the maximum amount you would pay to make it a worthwhile investment?"

In this video, I answer that question. There is no perfect answer!

Also, in case you have not heard, at popular demand, I'm having a second live workshop, the 'Canadian Multifamily Investing Blueprint' in Hamilton on November 1 (pm only), 2 & 3, 2019.  The event is ALMOST SOLD OUT but I still have VERY FEW SEATS LEFT at the early bird discount which you can access using the link below.

This is an early bird PACKAGE COMBO which includes not only one ticket to the live workshop, but you also get lifetime access to the  ONLINE VERSION of the workshop and all future upgrades. 

There is no other training program like this in Canada for people who want to...

 Hi,

Last week, I was coaching a student of mine who recently took my 2.5-day live workshop. He was working on his first acquisition and was running into some problems because he was making some basic mistakes that I have seen lots of novice investors make over the years.

In this blog post I share those mistakes with you. Please, watch this short video and make sure you don't make the same mistakes too.

Also, as a result of popular demand, I'm having a second live 2.5-day workshop in Hamilton on November 1-3, 2019. 

I've already sold 2/3 of the limited seats available. So you'll have to act fast if you want to secure your spot.  That's because of the 'EXPERIENTIAL' format of my workshop, that is 'learning by doing', I keep the group very small - no more than 25 people or so.

The good news is that there still room at the early bird price. Click below to get more details:

Link For Hamilton Early Bird

In addition to that, I'm super stoked to...

This is a great interview with a graduate student of mine who attended my multifamily live worshop in Hamilton just 2 years ago and who is now purchasing his second property.

Mark Baltazar shares with us his mistakes, his good deeds and how he raises capital for his investments in apartments buildings.

Many great lessons that can help you shave years from your learning curve.