Hello Everyone Real Estate Investing in Hamilton Ontario!!
The Oscars are way past my bedtime, Marvel and Batman movies never win so I’m not watching them, as per usual. But, I am pleased to announce our client, Charles Wah, AND our Mr Hamilton Team member, Erika Spencer, are finalists for Canadian Real Estate Wealth Magazine’s Top Investor awards in the category of Rising Star. We wish them both the best of luck and honestly feel like they both deserve the award.
At last week’s REIN meeting, another of our clients, Nabil Salama, was honoured with his Bronze pin as a reward for acquiring his third investment property. Congratulations Nabil!!! I’m so proud of Nabil. He has a crazy busy work schedule, two young kids, and yet he still manages to get it done. Make sure to go and celebrate! Along with Charles, you investors have no idea what a minority you are in actually sticking your neck out and taking action. We as coaches/mentors/teachers provide each and every client the same advice and yet it’s the minority who follow through to create a financially successful future for themselves, their families and charities.
With Charles Wah’s permission, I am sharing his submission to endorse my nomination as real estate agent of the year:
“Erwin has been the single most important mentor to me since I met him in December 2014. With his support, my family has increased our cash flow by over $5,000 a month. He has been invaluable to our success and I can honestly say that we would not be in the position that we are today without him. Erwin is extremely generous as he always thinks about others before himself. He empowers and educates investors through his informative blogs and podcasts, he helps his clients implement their investing plans and celebrates successes together with them by hosting generous appreciation events, and he organizes the Hamilton Basket Brigade which has fed over 1,000 less fortunate families in Hamilton. Erwin is a true leader – he’s ultra successful yet humble and he has a giant heart towards helping others. Erwin fully deserves the award for Real Estate Agent of the Year!”
Details on the Investor Forum are here: http://www.theinvestorforum.ca/
McMaster U Acquires NINE Properties for Planned Student Residence
“McMaster University has bought a cluster of nine houses adjacent to the campus with plans to build a multi-storey student residence with room for 800 beds.”
“And McMaster has now paid $9.5 million for nine of the homes the group assembled, a total of 1.45 acres. “
McMaster University is growing again! A couple things are interesting about this deal. The investor/developer/speculator who sold the nine properties to Mac paid “in the range of $600,000 to $750,000 each” and the university paid him $9.5 million in total. That’s a very healthy return, well deserved for the risk the investor was assuming because at the prices the investor paid, there’s no way he was able to cash flow those properties. Food for thought when you look at properties and keep the best and highest value use in mind. I know the average investor would not have the same long-term view a developer would.
For Mac student rental investors, this is a good thing. A university makes money by enrolling students. By adding a potential 800 beds, McMaster may grow its student body, particularly first year students who factor in residence availability when selecting a school. For student rental landlords, this could mean several hundred more potential customers for our safe, secure, clean housing.
How about this? No fixed address: How I became a 32-year-old couch surfer
A young professional in Toronto, making good income, can not afford market rents – let alone buy a property. Incomes are not going up as fast as property prices so what to do? Apparently parents are kicking in an average of $3,000 USD per year per child to support their living, based on this article in the NY Times: A Secret of Many Urban 20-Somethings: Their Parents Help With the Rent
I have a feeling that with the rising cost of living that figure is going up. If you’re like me and want financial security to be a part of your child’s life/future, then you better work more, start a small business, and/or invest!
Thanks for reading and happy Hamilton real estate investing!
Erwin Szeto | MrHamilton.ca
Sales Representative, Owner of Hamilton Real Estate Investment Property
Rock Star Real Estate Inc., Brokerage
President of the Basket Brigade Charity
Podcast Host/Producer of the Truth About Real Estate Investing for Canadians
REIN’s Top Player Award 2013, Silver Award.