Buying a Rental Property: Strategies & Tactics, Part 2 of BRRRRing Elias St

[@junyu3453]

Watching this every 4 years now it still provides tons of value

[@CanadianRealEstateChannel]

Haha thanks - this comment made my day! 🚀

[@HarshYadav-yw2cn]

These older videos are gold

[@bldfinancial]

Absolutely

[@JeandrePetzer]

I'm literally taking notes right now 🙈

[@miguellacroix9990]

Great explanation mark. This is definately the direction that most interest me. Cheers

[@tintoLoreto]

MAN, this is the best video by far in you tube about real state techniques. Thank you so much.

[@CanadianRealEstateChannel]

Thank you for the kind words! This was one of the first yt vids I released - crazy to look back a year and a half and see how things have/are changing

[@lux5127]

Hey Matt, how much do you really need to start BRRRR journey, and whats the minimum amount of personal income do you need to get this project going of 1 brrrr at a time?

[@duncanhenry4981]

Matt I really appreciate all the information you’re sharing with your following.. I’m going to look at a place today think I’ll implement the “BRRRR” .. I really appreciate your wealth of knowledge...

[@youspilledthis]

Duude! This is jam packed with good actionable tips and information. High quality info right here, thank you.

[@CanadianRealEstateChannel]

Thanks Nommy! Appreciate the comment! I spent so long making this series of videos - I'm so glad some people are diving through my back catalog!

[@connorchristensen4007]

Hey Matt this is amazing stuff. I feel like I have stumbled upon a gold mine of information. Thank you so much for making this content. I am trying to move forward on buying my first rental and this has been a life saver in raising my confidence for the purchase and preparing me to make the right decisions. THANK YOU!

[@Jc-fh9sd]

Thanks for the videos, your time and posting is very much appreciated.

[@CyndiLH]

How do you get access to old listings and past property info?

[@RadyoMusic]

WOW this video was very informative my pad is filled with notes! 📝

[@CanadianRealEstateChannel]

I'm glad to hear you enjoyed and got value from the video, also thanks for commenting - it's great to hear from those who are watching my videos. Are you currently involved in real estate investing - or looking to get started? What spurred your interest in RE investing?

[@jonathanmorris5891]

Big fan. Love the evolution from t-shirt to blazer. That's what I aspire to :) Thanks Matt.

[@CanadianRealEstateChannel]

😂😂😂 - this comment just made my day!

[@DBane83]

Thanks for these videos! With respect to all of the upfront research on a property, how much time do you spend researching and do you delegate any of the effort (and to whom)? Getting as much information as possible is extremely important, but I'm concerned about someone else swooping in and snatching up a property while I'm trying to dig up information.

[@kekefitnesslife1502]

Do you live in London and have other people managing your properties?? And do you recommend anyone to do that if they live out of the city for example someone living in Toronto but has properties in London and Manitoba

[@edelesguerra535]

Thanks a lot Matt!

[@bldfinancial]

🔥 🔥

[@Ethan-zw4tk]

What’s a cover letter?

[@brianwahl8852]

Cover letter straight outta Think and Grow Rich, fucking brilliant

[@CanadianRealEstateChannel]

Yeah cover letters can be so powerful - I know there are deals and negotiations I would have never succeed at if it hadn't been for well crafted cover letters

[@bldfinancial]

🔥 🔥

[@supahotjoe6493]

what does under aksing mean?

[@bldfinancial]

Great question! Under asking price is simply a price that came in lower than what the seller had originally requested!

[@brunaw]

Hey Matt, Thanks so much for the videos! My husband and I have been binge watching them lol. My question is how did you buy so many properties in a year, keeping in mind that the seasoning period is around 5 to 6 months? Did you have partners that financed it instead of you, or did you pay for some of them all in cash without financing?

[@CanadianRealEstateChannel]

Hi Bruna! Glad to hear you and your husband are enjoying my videos! It really depends on the exact lending envirornment you're in and what resources you have available. For myself, about 20% of the properties we buy are cash purchases (the bank would be unlikely to lend on them in current condition, we fix up then refinance). In Ontario Canada, you can often also have shorter seasoning periods than 5-6months... I know some people that use the same banks as me, but are unable to do so. So much of getting favourable financing terms and strategies comes down to asking the right questions and building relationships. If you try to do something and get a no for an answer, reask the question, if you keep getting no, ask someone else etc etc until you get the situation/answer you want. A lot of things are possible, a lot less are easy. Another strategy I use is multiple partners, so some of them are on a 1-2 property a year cycle with me. We buy one fix it up, refi in 4-6months, then buy another one rinse & repeat. Hope that helps, I just realized I don't think I've done a video on how to do multiple BRRRR's at once, so I've added it to my list of video to make.

[@sherwinabante2639]

Hi Matt, I like your videos very helpful. Do you get the mortgage insurance that the bank offer because it really reduces my cashflow or do I need one? I have 2 properties one is rented out and the new I just bought is in MLS rental now. I start last year and buy one this year in niagara falls.

[@CanadianRealEstateChannel]

Great question. In general, I think mortgage insurance is NOT worthwhile for most investors. It really depends on your exact situation - but for the vast majority of investors I think they should really question if it's right for them before getting it.

[@raczyk]

Matt are all you conversions legal?

[@austinschultz354]

Hey Matt, I also commented on another vid but another question, im just starting to learn about investing and dont plan on buying my first property until end of summer/fall 2019. How do you search for these deal properties, it seems as though most good deals are picked over before they hit the market due to so many investors working with real estate agents and investor friendly agents. If this is how you do it, could you provide tips on how to build these relationships to find out about deals first? Loving the videos man, thank you

[@CanadianRealEstateChannel]

HI Austin - start with this playlist to get an idea on how to find private deals - kzbin.info/www/bejne/jWnXdYFjfpyJg5Y

[@austinschultz354]

Matt McKeever thank you!! Should have checked all the videos first

[@brianwahl8852]

You are the man, would you recommend getting my own realtor license here in the states?

[@CanadianRealEstateChannel]

It really depends on what your goals are. Do you want to be a realtor or an investor (or both?). Being a realtor isn't necessary for being an investor (though it can often be helpful), if you're not a realtor and you want to become an investor, you'll need to find a good realtor (just like you'll need a good lawyer, accountant etc).

[@paulplumstead1254]

Thanks Matt for the video!

[@CanadianRealEstateChannel]

Glad you enjoyed it Paul! Any tips or tricks you use when buying a rental property? Did you use cover letters when you bought property in the past? Will you going forward?

[@tylersierra25]

Ive been studying your videos and others and am wondering what a good number to save up for example (20,000-50,000?) to to start this method down in orlando florida if that matters im 19 and able to put away about 70% of my income

[@CanadianRealEstateChannel]

70% of your income? That's awesome! I would aim to save 20-25% unless doing an FHA loan (or CMHC in Canada), in which case you need way less down

[@vincentdublin3127]

Hi Matt. Im new to your channel. Can you recommend me some good books about real estate investing, which may also teach the brrrr strategy?

[@riverlundy3702]

Hey Matt, I have a few big questions about the BRRR process! Do you have Q/A sessions or would you personally message me?

[@임꺽정-톰]

wow good info

[@bldfinancial]

Absolutely!!

[@rickymagicanada]

Hey Matt, I love your videos, how can find a bird dog in London ON?

[@bldfinancial]

Hey Ricardo! If you haven't already, we would definitely recommend checking out Cashflow Tribe, which could be a great networking platform to uncover some local bird dogs.

[@bldfinancial]

🔥🔥🔥

[@arshdeepsharma850]

Property Enquiry System looks a bit outdated from looks 🤔

[@CanadianRealEstateChannel]

HAha - government websites usually are.

[@vincentdublin3127]

Hi Matt. Im new to your channel. Can you recommend me some good books about real estate investing, which may also teach the brrrr strategy?