Active Investing Vs Pre-Construction Investing, Doubling Investments Before Closing with Todor Yordanov

Recorder 2 49

Podcast Transcription

Erwin Szeto [00:00:06] Hello, Real Estate investors. This is the truth about real estate investing. My name is Erwin Szeto, but the truth about real estate investing. Hence the name of the show. Did you hear about the major happenings this week? The Toronto Raptors won back to back home games in the NBA playoffs versus the best team in the NBA. The Goliath like Milwaukee Bucks. My wife got us tickets and took me to a date night for Game four and it was awesome. Hopefully, by the time you’re listening to this, we’re still in the playoffs. If not, I’ll be really upset. In other big, awesome news, I was finally allowed to share our big fat secret. I’ve been dying to share for the last three weeks. And that’s when we signed our keynote speaker for November 9th. When Wealth Hacker Conference. He is none other than New York Times bestseller The Man Who Sells Out Stadiums over 30000. The top sales trainer and real estate investor, whose company owns over $1 billion worth of Real Estate. That’s American dollars, too. So that’s like two billion dollars Canadian dollars. I’m kidding. We’re talking about Mr. 10x himself green card. Which brings us to this month’s sponsor of the show, Ireland’s Wild Hacker Conference, and the story of how this all got started. It’s crazy. This all started with me putting on planning to put on a free training event to, you know, generate new business. I told sure my idea, and she wasn’t really impressed for anyone who’s done this before, done these sorts of events before or done anything around this subject or run their own business. They understand that free stuffs are not always appreciated and are valued, as the saying goes. Those who pay attention. So the next iteration was we’re planning to throw a person event in a library or something, and then we apply 10x thinking, how about a 200 person paid event? And I’ll reach out to some of my expert friends. Then we have the idea of hiring celebrities, keynote speaker, someone from my favorite CBC business reality show. And around this time we had our event planner who was big time. For example, she’s hosting Sir Richard Branson in June. Anyway, so we hired a big time planner, and then our thinking grew another 10x. We together we did some blue skies brainstorming. Who is the most in-demand speaker in the world of entrepreneurship? And we went out and got him. Uncle G. Mr. 10X Grand Cordon is our keynote speaker for Iowans, while Packer Conference this November 9th in Toronto. Yeah. And saying our objective for attendees for the wealth conference is to walk away knowing that they can take control of our financial future and we will give them some of the tools to do so. To become a wealth hacker, investors can profit and thrive in any market and not just a Real Estate. We will have experts share about blockchain, cryptocurrency, cannabis and options trading, as well as always with Erwin events. The networking alone will be worth the price of admission. We’re still working on details on the events for the event, including venue ticket prices, but we have opened the waitlist at WW Dot, while Packer dossier friends on the waitlist will have first dibs on tickets at the early bird pricing, including VIP tickets for the best seats in the House and the opportunity to meet my friend great and have your picture taken with him. Understand we only have 100 tickets under VIP tickets available for the entire event, so there will be severe shortage and I’ve been advised by my team that these will be the first to sell out. So again, folks on the waitlist will have first dibs on tickets that become available. Again, that’s what the hacker dossier. Don’t forget the WS. Apparently, that’s a big deal to register for early access to early bird pricing and availability of tickets before they go to the public. Plus, we will announce our speakers as they become available to the waitlist first before to the public. Last time, let me WW Dot Wealth Hacker Dossier onto this week’s guest my old friend totoro danos is the first remember I ever met. I first met Toder at a meet up at a Tim Hortons back in 2008 before anyone knew what I was. This was back in the day before any of us were really using social media to coordinate events or to group our friends. Instead, we had an email distribution list. We basically would, you know, just be like a growing thing. Anyone who is like my age ish remembers these things. You know, you email a friend and then you meet other people and you add them to this email list. So this is what it was. It was an organically grown email list of folks who want to communicate each other with each other around the subject. Invest in your Hamilton and then the list grew to like 50 people. When I first met Toder, he was he was investing in condos, specifically townhouse, condos and Hamilton. For those who know, like they’re in the Green Hill area off of the Retail Valley Parkway because they suit this rule, this rule that many of us have read about in books, a book actually one, specifically one book. It was an eight to 12 percent rule understanding that was like top of funnel that was long, like the first thing. The first hurdle a property should get over. Remember, this book was written quite a while ago, when interest rates were probably like two or three times what they are today, anyway. For this rule, the annual rent had to be eight to 12 percent of the purchase price, plus improvements. Whatever innovations you have to do to the carpet, whatever. It wasn’t the only one following the strategy, as this was what we were taught. These houses cash flowed, but in hindsight, the tenant profile wasn’t a good one in the condo. Fees were inflating when I, when I was analyzing the condo fees were inflating at about 15 percent a year. Anyone knows that’s considerably higher than the national inflation rate. The truth about real estate investing is when Kadhafi’s go up and out of control and negatively affects the affordability of the property and in turn, the resale price of the property. It also doesn’t give buyers or homeowners much faith in the condo board in the way they’re operating the company anyway. Toward our next and best instant rentals. But then his focus is now on condos again, specifically Toronto condos known as pre-construction, meaning builders are selling apartments in a high rise building before they are ever built as trading works for Ta-Da as it suits his lifestyle and passive investment preferences. So this is actually really interesting podcast in terms of like Twitter shares a lot of tips around the strategy and also his investment objectives specifically to return. And there was actually the first time I ever heard it described. So it’s an interesting strategy for those who want something extremely passive and also of an idea of what type of investors are buying pre-construction condos. So without further ado, I give you Todor Yordanov..

Erwin Szeto [00:06:18] I’ve known you since 2008, I think

Todor Yordanov [00:06:24] Has it been this long

Erwin Szeto [00:06:24] I think I met you this summer.

Todor Yordanov [00:06:27] Oh, right. Yeah.

Erwin Szeto [00:06:28] I think maybe, maybe even 07 anyways. And it’s been it’s been a while.

Todor Yordanov [00:06:33] It’s been a while. Yeah.

Erwin Szeto [00:06:35] And at the time you were investing in, what do you remember? Did you already have? Yeah, only a property in Hamilton.

Todor Yordanov [00:06:40] I think I started it. Yeah, I started buying. I don’t remember what year I joined REIN, but shortly after I joined, when I started buying properties and all of them.

Erwin Szeto [00:06:51] So I’ve been messing with my storytelling these days. We’re going to start with the end. Not necessarily the end. Let’s fast forward to the present. So we’re old friends. I follow you on social media, too. You do a lot of traveling.

Todor Yordanov [00:07:03] I do. Yeah.

Erwin Szeto [00:07:04] How often you out of the country? How much time do you spend traveling?

Todor Yordanov [00:07:07] I was gone for good couple months this winter. I left to Antigua the day after Christmas, and it was supposed to be only. Two weeks. And then again, I saw some business opportunities a few days before I before we came back and I came back here, I think, around January six, January 10. And it was pretty cold and it was really not much to do in my business. So it like, what am I going to do here? Like, Why am I here? I might as well just go back and, you know, explore business opportunities and enjoy the sun and the sea. So I went back. I went back three times to Antigua this this winter. So all in all, I was going for a little bit over two months and came back March 15, March 16, and the markets completely changed like everything is on fire right now, so there’s quite a bit of work to do. So, yeah.

Erwin Szeto [00:08:06] Why Antigua? Why did you choose to go there? I have no context for Antigua

Todor Yordanov [00:08:11] in mind who was looking at buying a business and a place to operate. And he called me up and says, Do you mind going down to Antigua and check it out for me and see if it makes sense? Before he showed up? So that’s what I did

Erwin Szeto [00:08:26] to show what the opportunity was.

Todor Yordanov [00:08:28] Yeah, it’s a little hole out on the beach with a bar and like a very big terrace. And this hotel is owned by a former Canadian. His wife passed away and his wife passed away. He she lost the desire to run the business so he let the business deteriorate and the building a little bit. So he was looking for a way to get out of it. So my friend was going to take it over and fix it up and rent it out again and run the bar, run the entertainment space and I go and see it. And I was excited at the beginning. But then we started running some numbers and we started running some scenarios and getting to know the islands and getting to know everything about the island. And I decided that’s just not the right opportunity for me or my friends, and we’re looking for something else right now.

Erwin Szeto [00:09:24] Right? It’s funny, you know, Hamilton and many cities are no different. I was driving along King Street and I see all these businesses that have gone under. You know that the signs are still there, but they used to do and they’re all being boarded up and you see the for lease or for sale signs. And it reminds me how grateful I am to be a real estate investor

Todor Yordanov [00:09:42] is exactly it. At the end of the day, everything comes to mind. I mean, there’s no shame in talking about money or talking about money. For the most part, they’re not in a business organization because that’s, you know, money like we keep score by how much money the business generates. And so I looked at it, the island lifestyle or the islands itself, the culture. But we also looked at the amount of work that is needed, the amount of capital that is needed and what is going to produce in, you know, in monthly and in the revenue. And I looked at it and that’s Stutsman. I can make much more than that in Canada, you know, doing what I’m doing like, why would I? Why would I leave? Hmm. I don’t mind making another jump in, you know, changing things a bit, but it has to be a significant jump into a bigger, bigger business venture. Bigger and bigger, bigger everything, right?

Erwin Szeto [00:10:45] So what are you doing? What are you doing in Canada?

Todor Yordanov [00:10:49] Pre-Construction? Because I think so. And so because I’ll find you a lot of work in the condo, as you know, the condo construction. Mm-Hmm.

Erwin Szeto [00:11:01] So like anything, we’re always comparing opportunities, right? So kind of like you said, you’re comparing the opportunity in Antigua versus what you’re doing with pre-construction condos now. Are you referring to pre-construction condos as in being a conduit for people to buy them or for? You’re comparing the investment opportunity to buy her condo versus investing in a hotel?

Todor Yordanov [00:11:20] Well, you know, my background is basically buying investment grade three with state finances, Hamilton student rentals. And so I’m very familiar with working with small to midsize investors. And right now, I’m basically helping them make money in buying pre-construction condos by selecting the right buildings that I builders. The right locations, the right unit sizes that I find records, everything that I can project that will make them money three, four, five years down the road and longer.

Erwin Szeto [00:11:55] Okay, so I want to get back to this, but let’s go back to when I knew Twitter. I first met Twitter around 11 years ago. What were you investing in back then? Justin Hamilton and has condos, the estate of condos.

Todor Yordanov [00:12:12] I didn’t even know about going back then, but it was far from this year for Halton Hamilton.

Erwin Szeto [00:12:18] So why did? The decision to invest in Hamilton townhouses,

Todor Yordanov [00:12:21] you know, I listen to Russell back then he was talking about most of his investments. You know, I say it’s like if, if, if it works for him. I like the idea of having a corporation, taking care of the grounds, taking care of the exterior of the building. And so that kind of cuts the work and the exposure to future expenses and. Mm-Hmm. And I like the idea of having all the houses into one or multiple similar complexes. So you’re not all over the place. I guess the unification of the units and it worked. It worked pretty well. Not without challenges, obviously, but how we should have walked more back then.

Erwin Szeto [00:13:08] Autonomous condos?

Todor Yordanov [00:13:09] Yeah, townhouses. Okay. So remember, we were buying them with five percent down and you know, even sometimes like build percent folded down payments

Erwin Szeto [00:13:19] for two year amortization.

Todor Yordanov [00:13:20] Exactly four years of motivations. And you know, there were like a hundred and twenty thousand dollars and we were still thinking about it.

Erwin Szeto [00:13:29] Yeah. So you work in sales now, you know how it is to how people are all. They always want to be better.

Todor Yordanov [00:13:35] Yeah, we’re always thinking about.

Erwin Szeto [00:13:38] Remember those days when you do cash flow, a single family home, pretty much any home you could single digit cash flow. And then the objection was there’s not enough cash flow, you know,

Todor Yordanov [00:13:51] you could have bought stopping in. Even in Toronto, duplexes like Sense, five percent down payment and down payment, everything was cash.

Erwin Szeto [00:14:00] Yeah, you’re probably buying for like three hundred grand.

Todor Yordanov [00:14:02] Exactly where it will never come back.

Erwin Szeto [00:14:07] No, never come back. That’s a market question. People are like single corrections bubbles. Whatever, it’s never come back. I know there was a point where you did not stay with what the townhouse, condos and Hamilton.

Todor Yordanov [00:14:17] Yeah. What I discovered in rentals.

Erwin Szeto [00:14:21] Oh, OK. So then you moved on this June rentals.

Todor Yordanov [00:14:23] So that’s why this car accident at one point that I got fired from doing the townhouses and I needed a new challenge, I needed something new and exciting. So I found Szeto rentals in St. Catharines and I bought one house and bought a second one third one. Then I started bringing clients to St. Catharines for bicycle rentals. I really like that, so I started selling the townhouses and moving everything into rentals. That period of my love life lasted for about three or four years, I think, before I discovered the pre-construction condos in Toronto. I really like the studio rentals as well. Great. Gosh, right? Do you still have them?

Erwin Szeto [00:15:06] What? What do you still have? You don’t have the they don’t have the townhouses anymore.

Todor Yordanov [00:15:09] So I sold, I sold the townhouses, rentals, pre-construction. All right.

Erwin Szeto [00:15:15] Well, my decision to move on.

Todor Yordanov [00:15:17] And you know, as you as you do stuff like you always find something that is better for you. It’s meet your criteria is better in my life. I’ve done a lot of what I was doing the pre-construction when I was in the townhouses in Hamilton, I also opened up a property management business, primarily in business. So I did a lot of renovations for other investors. I did two properties that you were managing. I didn’t like any of that stuff like I was. I was doing well, but I didn’t actually like it. I was really, really excited at the beginning. And then I do it for a year or two. I’m like, OK, what else is there? What else can I do? So when I moved back to the rentals, I quit the renovations and I quit the property management company, and then I discovered the. So I was always looking for more, always looking for. But I guess, you know, there comes a point when I don’t want to deal with tenants anymore, and I didn’t want to deal with all these other distractions and managing places of managing renovations. And so, so pre-construction allows them to do that. It’s not completely hands off, but it’s as close to investing in the stock market as we can get, right? But doing it in that it was

Erwin Szeto [00:16:36] in terms of passivity.

Todor Yordanov [00:16:37] Yeah, exactly. Because you’re really not touching Real Estate like you touching your houses or your condominiums, you buy them off. Once construction takes them, it takes the builder and other general three, sometimes four years to build them. And at that point, you either sell them or you put a tenant in. But the condo tenants are very different than the house tenants, and the condos are very different in terms of maintenance and managing. And is there’s nothing to do, really. Mm-Hmm. You don’t fix roofs, basements, driveways that you don’t have snow removal. You don’t do yard work. None of that stuff. So it gives you a lot more time.

Erwin Szeto [00:17:23] And that’s what you want

Todor Yordanov [00:17:24] sacrificing on the gospel, right? So this is no cash flow in in the construction going to wine, but you get depreciation.

Erwin Szeto [00:17:34] Fantastic. So this is life. So we had a question from Danny Pitana Rob Break at the last name correctly. So he’s asking who you are? So my favorite this is a joke, a joke. I tell this joke to people all the time. You know, my favorite words in the English language is, don’t you know who I am? It’s shocking. Nobody knows who I am, but Twitter is an old friend of mine. What are you doing to old friend of mine? And now he spends most of his time doing pre-construction condos for those who are interested in who Twitter is. So can you describe your strategy now with new construction condos? Are you closing them and tending them and holding on to them? Or you talk? You told me.

Todor Yordanov [00:18:17] Mine is to hold on to the units of the clients they have. It’s kind of a floating starting gate. So lately people want to buy condos as potential investment, but they also want to pick a layout that could work for their kids side if they decide to come and live downtown and go to universities downtown. Also, they want to be close to transit so they can potentially rent them to other people. And then potentially a few years down the road, people are thinking, you know, maybe when I get to closer to retirement age, we’re going to sell the house in Vaughan or King Szeto or whatever, and we’re going to move in downtown and live in that condo. So it has to like in most cases, it has to be a layout and a unit size that can work either way. And in terms of an investment strategy, a lot of people are thinking about like, I’m going to buy it now and I’m going to decide what to do with it three years from now when it’s built. Mm hmm. And I always, especially now I tell people I like, look for you to really maximize on this investment and to really maximize on the amount of money that you can do it as investment. You make sure that you can close on the condo and then hold it for another one to three years and then see how it goes from there. You know, going on the days when people kill other people or we just buy it and then sell it on an assignment and then you make a bunch of money and nobody knows about Szeto. That’s not what the right thing to do right now, right? Like I was, you know, you have to put a little bit more time in the market in order for you to really see the return on the investment. Oh, totally. Kind of a quick get rich schemes. And because virtual condos look, nobody knows how well a project is going to be and how well is going to go. You know, you may buy something today for, let’s say, $400000 in two years from now is like six thousand dollars, but it could be $450000. So you have to be able to take this investment to its fullest potential and give it time. Mm-Hmm. Mm-Hmm.

Erwin Szeto [00:20:34] So you tackle a long stretch? I’m actually really happy to hear people are thinking ahead by planning housing, especially around kids, because it’s ridiculous how expensive it is for anyone to enter this market right now. So I have a selfish question. Say I’m buying a cottage for myself. Just like some of your clients are doing, they’re essentially buying themselves a cottage sort of right. They’re buying a secondary home and then say they’re planning to go through CMHC put like five percent down. But I know a lot of builders require like, you know, like five down and another. How would that work? So when the closers return of capital or something like that?

Todor Yordanov [00:21:16] So typically, you know, pre-construction purchase you are in with a 20 percent deposit. Yeah, yeah, OK. Most of the time, the deposit amount to 20 percent and it’s extended, so it’s broken down into five percent chance. So let’s say five percent in the first 30 days, five percent in 480 days, you know, five percent in 365 days and then another five percent either at four hundred and fifty seven days or occupancy and occupancy is when you get your keys. But from day one, until you get your keys, the builder will require at least 15 percent or more likely 20. So you have to come up with a 20 percent down payment. Mm-Hmm. Now, for the moment, you get the keys to the moment the building actually closes and registers. There is a period of about six months to nine months, sometimes up to a year. It’s a big deal. And during that time, you don’t have a mortgage, but you’re paying a little rent to the builder every month until the builder is finishing all the of the inside of the building. Then it goes to the city, registers the building and you get a mortgage when you get a mortgage. Now what the bank is going to request from you is a down payment is a different story because you already have 20 percent. So if you qualify for five percent yet with the bank, you’re going to get your original 15 percent of your original deposit. Right, right. You know what I mean? But if the bank says the 20 percent, you know, we need five more, then you have to come up with five more depending on your financial situation, but not a mortgage broker, not a mortgage agent. So I really can’t speak to that. But I think I think that if you already have 20 percent deposit with the builder on your original purchase three years from now, it’s 20 percent down payment. I think you should be able to qualify for a mortgage and not have to get more right.

Erwin Szeto [00:23:27] May I ask how many partners you currently hold?

Todor Yordanov [00:23:30] Five hundred.

Erwin Szeto [00:23:32] Her contract, so as

Todor Yordanov [00:23:34] well, yeah, pre-construction,

Erwin Szeto [00:23:35] yeah. Also, the don’t exist yet.

Todor Yordanov [00:23:36] Not very interesting.

Erwin Szeto [00:23:39] And what’s your plan? Are you going to close them and then tenant them

Todor Yordanov [00:23:43] again, like you said to everybody, when they’re ready, that’s what I’m going to decide. If I like the building. I still like the location. I don’t have any better business opportunity at the moment that I need the cash for. I’ll hold them or is going to be the side that it is like multiple exit strategies with deconstruction condos. And that’s why that’s why I like it.

Erwin Szeto [00:24:08] I think you kind of already went through it, but you go through it again. Whether you’re closing, what are your options?

Todor Yordanov [00:24:12] Transactions are OK, so the option is to sell it as an assignment. Assignment means that right now I don’t have Real Estate. Real Estate condo building becomes a Real Estate at the registration council and the builder is completely finished with the building it goes to the city, gets the final approval, the final inspection that goes to the city and says, You know, I was building this project now it’s built, it’s completed. Register it. So once it goes into the registry office, then it gets registered, it becomes Real Estate. So that’s why, like when you write big construction, you don’t have real estate, but you have a contract to the purchase. So anytime you sell before our actual final registration, it’s called an. Hmm. So because you’re signing your contract for purchase to somebody else. So that’s one option to sign your contract and you can sign your contract at any the builder will tell you when you can start the signing. But any time, let’s say, in the last six months to a year before registration, typically you you’re allowed to choose to do an assignment. So that’s one option. And other option is to, you know, when you get the keys, you can put tenants in or you can move in yourself and then you can close on the goals of the purchase. Once you call them approaches the very next day, you can put it on the market, then you can sell it as a condos and it was sell it. You can have tenants for a year or two and see how the building is kind of stabilizing and you know how the market is responding to the building and you can make the determination at that point. That’s okay. Appreciate it so much. I want to refinance, for example. You know this like you can’t refinance and pull some of your capital out of the purchase or to just sell it. Mm-Hmm. Very cool. Yes. Just like any other Real Estate with

Erwin Szeto [00:26:10] assignments, is the owner of the contract on their own and how would they go about doing it? Do you have like a recommended strategy? Did you go about assigning something signing a contract?

Todor Yordanov [00:26:20] What do you mean to be just

Erwin Szeto [00:26:21] going to post it on their Facebook or something like that? Yeah, yeah, that’s it.

Todor Yordanov [00:26:24] Yeah, yeah, you can. You can say I have full time; I have this condo in this building and, you know, I’m willing to sell it. You can put it on, you can put it on Facebook. You can hire your estate agent and in some cases, they can put on a license. In other cases, they can operate on MLS. Yeah, but you can do it yourself. You can hire real time to do a parent through Facebook groups that deal with assignments. Oh, no kidding.

Erwin Szeto [00:26:49] Name one for the benefit of the listener.

Todor Yordanov [00:26:51] Can you think of one? Don’t know. I don’t know the name of it. I can look them up, but it’s just look up GTA assignments and I’m sure you can find them. That’s awesome,

Erwin Szeto [00:27:01] because this market’s crazy. I love creative methods of getting property.

Todor Yordanov [00:27:05] There’s exactly I mean, I didn’t think about that, but I mean, I’m more active in that market. But I know that they are investors that are looking to purchase contracts from the original buyers when the only regional buyers just need the money and they will sell as what they originally bought it for.

Erwin Szeto [00:27:26] Right, right, right. Or even just an end user.

Todor Yordanov [00:27:28] Right.

Erwin Szeto [00:27:29] So you just moved to town. You need a place to live there.

Todor Yordanov [00:27:33] Not it’s not a place to live because it’s not ready yet.

Erwin Szeto [00:27:35] Oh, no, but you know you’re you need a place to live in three months.

Todor Yordanov [00:27:40] But there’s a lot of savvy investors that are looking to basically buy the contract of a building that is about to be ready. Right from your original investor, because the original investors, something’s in their lives, that they lost their jobs, businesses and their locations, whatever

Erwin Szeto [00:27:56] stress tests

Todor Yordanov [00:27:58] they just need to get, you know, get out of the deal. So, so in some cases, they’ll sell at the original price or, you know, with a little bit of a profit. Right. And that’s when the savvy investor comes in and buys the contract for less than what they can sell it to the market six months later, eight months later, make some great money. Right, right.

Erwin Szeto [00:28:21] So this is a tough question because I know, I know this is a tough question because I’m I’ve been I’m in a similar business working with clients to acquire investment properties because they’re often going to ask, like, what are the returns look like? So how do you handle this? Action with people. And then I think the question that the question that’s easier for me to ask for, for example, myself, I’m looking to make over 30 percent returns to my real estate investments. Right. I can’t promise that anybody that’s I’m looking to do. Yeah, I’m going to make 30 percent of my estate mesosphere. I don’t get that every year, right? You know, like we had, we had we had a we had a bit of a correction after the fair housing plan. Very fair. Right. But I wouldn’t be going through all the troubles that I go through unless I’m making over 30 percent some years. I have better years, some years and only have a good a year. And when you’re comparing opportunity, it would be A. Hotel versus your opportunity for a pre-construction condo. You must have an idea as to what your what you expect for returns.

Todor Yordanov [00:29:14] So I think that in your world, it’s a little bit more detail and a little bit more kind of a spreadsheet line item by line item process. And you can actually and you can actually show people what’s happening with their money and how money is going somewhere and how you somehow in mind in my world is more about the image and the believes in the future. Mm-Hmm. Because, you know, in your world, you have cash flow. In my world there is no cash flow. There’s just appreciation. And as you know, appreciation is something that we don’t know. This is not happening. It’s not going to happen. It’s completely dependent on, you know, many, many, many different factors, right? And everything else. So what I tell people, and so far I’ve been what I’ve been, I’ve been right and I said is like, Look my promise to you and what I’m aiming to do for you is to double your deposits. So if you put like seventy thousand dollars in a pretty good selection project, REIN takes two and a half years for this project to be completed. I want you to get to double that money. And if you double that money, then I’ve done my job. And in most cases, then they way more than double the money. They don’t make so many thousand. They will make like a hundred, don’t make a hundred and twenty plenty of stocks on that. They just do that. But that

Erwin Szeto [00:30:47] didn’t work.

Todor Yordanov [00:30:48] This is this is kind of like when I feel like I’ve done my job right and we’ve done the work.

Erwin Szeto [00:30:52] I right. I’ve done my work. I don’t know. The investors done no work to earn that income.

Todor Yordanov [00:30:58] Exactly. And you had nothing. No tendency are not innovations. You if you do have to do anything to show up with a checkbook, sign a contract and see in four years. Hmm. That’s it. And this is this is this is why I like it. And it’s heavily dependent on appreciation. So it’s quite a bit of like I put a lot of stress on myself when I make a promise or not because I do like I just read in the in an article today that last year there were eight hundred and eighty two projects in the city. Hmm. And that’s not only kind of progress. I think the condo tower progress for about 200, but there is a lot of smaller and infrastructure builders and there’s a lot of activity in the city and that’s just in Toronto. So how do you how do you pick a building that is going to perform well so I can keep my project, my promise? And that’s what I that’s what I do. I look different builders. I look at different products and what’s done well. You know where people kind of looking to move to and where the price appreciation is going to be the strongest right?

Erwin Szeto [00:32:09] People talking about Real Estate as always as an investment, you know, I like to relate it to business that you’re talking about your investor doubling the returns without having to hire employees, without having to commit to salaries where they’re having to deal with H.R. human rights. Paid rent sign a lease for a building, right? All these sorts of things. Because just like you and I were laughing how we complain, like, Oh, this house isn’t cash flow enough? And it’s one hundred and twenty grand. Yeah, yeah, right. People are the people need to be a bit more grateful for the opportunities that are available to us. So I’m always very grateful to the opportunities that are available to you and me in with the condo buying pre-construction condo. People think of it as an investment, but we’ll get into the other thing that we always laugh about it offline. This is business by what’s in short supply.

Todor Yordanov [00:33:04] Absolutely. Absolutely. You mentioned Twitter projects and another and another thing that I realize this this past summer, we were in Rome, and the Rome has basically put this like it’s almost like few cities into one city. So you have the ancient Rome, you know, the weather where everybody goes to see the ruins and the. And all that that was built like many, many hundreds of years ago. But then you have all the modeling Rome and not some other Rome, but the Rome that was built at the end of the 19th century. So nineteen eighty two, about nineteen eighteen, 1880 to about 1910. So it just occurred to me that the city where everybody lives and everybody knows is Rome today was built in about 40 years. All these houses, all these buildings that are housing people and businesses and offices in Rome today were built in a span of about 30 to 40 years. And then I looked at other cities like You look at Hamilton and you look at Toronto and you look at any live look at Manhattan, you know when where all of these buildings in Manhattan built and how long did it take? What was the time span that all these buildings just started coming up on this island? And you will find that it took them about 30 to 40 years and it was done. So same thing is happening in Toronto now, like these cranes that we have in the sky and we have the most cranes in the world. These claims that we have in the sky, they’re not going to be here forever. There’s a cure for about 20, 30, 40 years old. These buildings are built and then it moves on to another city and it will never repeat in our lifetime. So we, as Real Estate investors, I think it’s very, very important to wake up and be aware of the fact that this is happening. This is not something that it’s not a fluke. You know, it’s not like all condos are coming up tomorrow or today, but I don’t know what’s going to happen tomorrow, right? Know this. This is it. This is it like these buildings are coming and they’re coming in in amazing numbers, in an amazing size. So what can we do to be in this process? As real estate investors, I know you talk a lot about joint venture ships and then things that are that that, yeah, it’s the same thing as like. But just like you are being a joint venture partner to some of the country’s biggest builders like Empire and Multimillion, and these are companies that have been building for six to seven years. They have hundreds of thousands of units already produced in the market, and you’re just basically helping them with the next project. So it is, in a way, a joint venture ship. The way, the way I see it, it gives you more stability. It gives you more you. It takes away the risk.

Erwin Szeto [00:36:11] So it sounds like you’re saying history is repeating itself and we have a 30 40 window. Toronto has a 30 40 year building window. Yeah. How much do you think is left on that window?

Todor Yordanov [00:36:22] I have quite a bit more judging from all of the projects that are in the pipeline. Mm-Hmm. From what I know, the amount of buildings, the number of buildings that are that are approved and ready to go in the next three to five years, it will be Dubeau than what we have now. And I don’t see it stopping five years from now. It will probably go on for another 10 15 years just because the building itself, you know, the massive infrastructure transportation that is that is happening in Toronto. LRT subways, highways like the city needs to move because it’s almost doubling in size in 15 years,

Erwin Szeto [00:37:04] then to build more schools to her city places finally getting a school every everything. Can we talk about the thing we always laugh about? I don’t know how it all started, but you and I are. We’re told a long time ago from a stage that condominium is the common term for high rise apartment buildings that are condominium ownership. Correct. So that’s what we’re that’s what referred to when we say condos. Even though condos isn’t really accurate because earlier we’re discussing townhouses, condos, because those are condos to buy in. When people discuss condos, generally, they’re talking about high rise apartment buildings that are condominium ownership. So we were told years ago of a likely oversupply situation of condos, and that didn’t turn out to be very accurate. OK, well, based on where prices have gone, it doesn’t seem like we have an oversupply issue.

Todor Yordanov [00:38:01] No, not at all. Not at all. I mean, every year there are about anywhere between 18 19 thousand to twenty five thousand units coming to market being built. And you know, every single corner sold there is there is there’s a massive need for more housing in Toronto, ever increasing need for housing. As you know, the condo sizes are getting smaller and smaller. The prices are getting more and more expensive. I know that. That’s not what most people want to see, smaller sizes and, you know, more in mortgage payments. But it is the reality of living in the city and you can compare the city to anywhere else. You know, somebody was just like a friend of mine was. We were having lunch and he showed me his friend’s house and outside of Chicago. And he says, like, look, I was like, I don’t like massive, you know, 5000 square feet houses on my four acre lot. And he says, like, you bought this for $600000. What can you get in Toronto for six thousand dollars? I’m like, Yeah, I can get a phone call.

Erwin Szeto [00:39:08] Exactly right.

Todor Yordanov [00:39:10] But you know, I mean, he’s in Chicago, where here you can again compare notes if you want to live in Toronto and this is what it is. If you don’t live in Toronto, you just move out of Toronto and you find different opportunities. You know, the beautiful thing is that we have choices. So, you know, I don’t want to complain that I don’t want to overanalyze the fact like, why is it the way it is? It is. This is the way it is, and this is the way it’s going to be. It’s going to be. This is this is a very busy city. A lot of people are here and a lot of people want to be here. You know, interestingly, you know, since we’re on that topic, the condos that we were selling two or three years from now, the people would kind of historically people would come to buying condos because houses were too expensive. And that’s the only thing that they can afford. So how close were cheaper than houses, much cheaper than houses? And people who couldn’t qualify for houses in this part of the city? You know, that’s the only thing that they can do quite a bit of change now since last year. I think that no, I don’t think I know condos are more expensive than houses and people are still buying condos. And I’m like, why? Like, why are they still buying condos? And I realize why it turned into a lifestyle choice. So it’s no longer only always cheaper. So I’m going to get into a condo. Now it’s a lifestyle choice. I live in a condo and it’s completely a lifestyle choice. You know, I could live in a house. I don’t want to, you know, I have a very busy life, a very busy schedule. And then I’m not even in the country for months and months of the year. So I just lock up the door. I go and I don’t have to worry about anything. And during the day, I’m like in and out, in and out all the time. I don’t have time to deal with any issues that obviously come up with the house cutting the grass and Sandy. I don’t want to do that. Dealing with windows, getting with rules, dinning cleaning garage and I drive like, I don’t want to do that. I don’t, right? So it’s a lifestyle.

Erwin Szeto [00:41:21] You’re an empty nester as well.

Todor Yordanov [00:41:23] Right. So now people know people are coming to. Exactly. So a lot of people know their things like, you know, a few years from now, I can see how we’re going to sell the house and we want to move into a condo. We’re going to be downtown. We can go to entertainment every now and then I’ll walk around the lake and travel, and it’s a lifestyle and people are spending one point five million dollars in sales. Abouts, do you live? I’m going to ask you the building site.

Erwin Szeto [00:41:49] Oh, I don’t know if their house is there. It’s nice area. Can you view the water? He spent around. Oh, nice. Oh, very nice for the folks who are just listening tours spun the camera around. Oh my god, do you want this place to respond for the for the listeners benefit Twitter? Spin the camera around to show me is a very nice Lakeview view. What story are you on,

Todor Yordanov [00:42:10] Hawk

Erwin Szeto [00:42:11] thus far? Like you said, I’m busy. I can’t imagine. Like lugging Costco for groceries. 46 Stories. This is

Todor Yordanov [00:42:23] good. You know things. Things are changing. I think the city is embracing kind of embracing the kind of lifestyle more and more. And you know, there’s also statistics that are proving that like 50 percent of the kids don’t get driver’s licenses, so they’re not planning to go back to, you know, suburban lifestyle. They’re not planning to. They don’t have the houses. Maybe they will, you know, eventually when they get a little bit older and they get into a family situation and their kids and they need the schools, and maybe they will. But for now, everybody is focused on just like coming downtown and living.

Erwin Szeto [00:43:03] Yeah, I think these are historic times as I was actually pulling a whole bunch of people, people I knew I had asked them if you know anyone who raised a family in a condo in Toronto and it’s very almost nobody. And if they did, there are rich and they have 800 square feet or something like that. But today that seems to be changing because again, lifestyle commutes are difficult.

Todor Yordanov [00:43:26] But Toronto is not the same city that it was 15 years ago. It’s completely changed. It’s just not the same place, you know, the vibe, the culture, the restaurants, the just entertainment and the places to go and things to do. It’s completely different, definitely different.

Erwin Szeto [00:43:44] So you can almost say it’s been gentrified because, for example, I worked at Queen of Spadina for years, and I always remember King West was not a very nice area. But if you go now, it’s very nice.

Todor Yordanov [00:43:56] One of the more desirable places to be in the city,

Erwin Szeto [00:43:59] you didn’t see that kind

Todor Yordanov [00:44:01] of restaurants and bars with, you know, all kinds of shopping, entertainment, things to do just fine. So I want to

Erwin Szeto [00:44:08] ask, are there layout styles that you prefer when you’re recommending clients to buy

Todor Yordanov [00:44:13] typically? No, not really. You know, one of the things that investors are looking for, you are looking for a functional them. So they if they go to a one bedroom and then they would look for a den that houses the size of a small bedroom. Sometimes you get them with windows sometimes depends on the project. So these are popular layouts. One bedroom and a den with the den is larger and you can use it as a spare bedroom. Another one, it could be also a one bedroom and a den with two bathrooms. But more and more, I kind of suggest to them should go with a two bedroom because, like I said, sizes are getting smaller and prices are getting higher. So I’m like, OK, if going to be buying a one bedroom and a den for, let’s say, four hundred and fifty thousand dollars? Why don’t you consider a two bedroom four five 10 five 20 that will give you an extra 150 200 square feet? You have two proper bedrooms, two washrooms and yeah, you pay a little bit more. But in the long run, you know you’re going to be owning quite a bit more Real Estate that ten years from now, most people are not going to be able to afford to buy. You have it right.

Erwin Szeto [00:45:33] I saw some statistics. You can you can tell me I was seeing something like 70 percent of buildings are usually like one bedroom

Todor Yordanov [00:45:40] and not like, I’m not going to comment on that because I’m not clear exactly on what the city is dictating to the builders. Right? I’m really not. Not exactly sure. So I don’t want to give you misinformation. But my understanding is that during the planning stages, Sandy approval stages, when the building is going and working with the city to develop the project, the city has a say in how tall the building is going to be and then what kind of a mixed units do they want to see in the building or the city to

Erwin Szeto [00:46:18] take

Todor Yordanov [00:46:19] the city with the builder? You know, there is like it’s a dense right. You know, we’ll give you this, but then you have to give us that and then you can only go this high. But if you improve that park, maybe we can allow you to do another story. It is a dance is right. But again, I’m not involved in that process and I’m not intimately familiar with that process. But the city has a say like, for example, they will not allow a building to be just one bedroom units that will be the most profitable projects for the builder, right? In terms of price per square foot. They’ll make the most money, but then the city will not allow it. So the city will say, No, no, no, we need to see some two bedrooms. We need to see some three bedrooms. There’s going to be families moving into this area. All right. We’re building schools, so you can’t have a building that is going to have just single individuals. Mm-Hmm. We need to have families living in your building as well. So that’s how the layouts kind of get finalized at the end of the day.

Erwin Szeto [00:47:22] So if you have a question, you can take a question. Sure. What’s the average monthly maintenance fee downtown for McGaw Garcia? Old friend Manuel Garcia,

Todor Yordanov [00:47:31] that’s for pre-construction condos or existing condos.

Erwin Szeto [00:47:35] We’ve been talking about pre-construction this whole time, so it’s temporary

Todor Yordanov [00:47:37] construction condos right now. What is the impact on projects is anywhere between 58 to 62 cents per square foot pre-construction right now, downtown Toronto.

Erwin Szeto [00:47:49] And then there’s a range that you’re staying within for price per square foot.

Todor Yordanov [00:47:54] It’s all over the place, downtown Toronto. But it’s fair to say that the average right now on projects that are sitting in downtown Toronto is well over a 100 000 square foot.

Erwin Szeto [00:48:06] How high does it get? What’s like? What’s the most expensive right now?

Todor Yordanov [00:48:09] I don’t know about the most expensive. If I don’t, I think the one that was launched less than two years ago, I think went close to three thousand dollars a square foot. I know that conceived Thinking Toronto and other beautiful projects on King Street by a celebrity architect. I think this one is close to. Somewhere around twenty to twenty five point two dollars a square foot, some units there was there was a unit that was just launched a couple of weeks ago called the United. That came out to about seven dollars a square foot so that that would be like seventeen. Eighteen dollars a square foot would be two thousand dollars would be the ceiling. But now we’re talking about, like, really expensive.

Erwin Szeto [00:48:53] So right before our goal?

Todor Yordanov [00:48:55] No, no, no, actually, no, no. I mean, the finishes could be a little bit better, could be pretty standard different. This is just cheaper locations with designs and appeals to people that want to spend this kind of money. It becomes a little bit more of a status. Not so much investment. Not so much, right? You know, the everyday buyer got it. It’s more of a sign of sort of building, so we can compare this to all of the regular condos that are coming up. So a stylish condo? Yes, that it’s going to be up to 3000 could be over three thousand dollars.

Erwin Szeto [00:49:32] And it sounds like you’re saying that you exclude stars condos from your investment criteria.

Todor Yordanov [00:49:36] It’s not an investment credit, it’s not investment grade condo. Yeah. Got it. It could be. It could be is just like A. specialized in that market. Got it. You know, I mean, you could be buying like ultra-luxury homes for multi million. Yeah. And make money selling them or renting.

Erwin Szeto [00:49:57] And it’s just riskier.

Todor Yordanov [00:49:59] I just don’t know how like this is like, I’m not familiar with that market. Yeah. But you know, we can’t we cannot say that, you know, high end products. Real estate is not investment grade because that would not be accurate. Oh, it’s true to make money. People do make money with those kind of products. Well. Right?

Erwin Szeto [00:50:19] Yeah, that would just comment that it’s I’m going to guess it’s riskier because when we’re talking like a thousand square foot condo, that’s three thousand dollars a square foot, that’s $3 million, you know, trying to assign that. How many people can afford that?

Todor Yordanov [00:50:34] The surprise? Okay, all the people are going to be able to afford that and pay now. Do I have access to those? Yeah, yeah. Yeah.

Erwin Szeto [00:50:43] And what’s the other cost to get access to those people?

Todor Yordanov [00:50:45] Exactly. I have to brush up on my nails. Saudi Arabia is going to have no right.

Erwin Szeto [00:50:54] So not without challenges, right? Okay. So the question from Danny Pantano, hopefully, of giving his last name correctly regarding interim occupancy, what fees, what a purchaser be paying. And are there restrictions to renting during this period?

Todor Yordanov [00:51:08] Most of the time I will have. I’ll have an amendment to the contract that says that you are allowed to rent during occupancy as far as the fees. There’s a formula that builders use to calculate the so called rent that you’re going to be paying to them. The way I explain it is like this look, if because people are starting to figure out like, oh, they had to pay extra to the builder and says, Look, if you had bought this property, you have a mortgage, right? And they said yes. So in the mortgage, there is two components. There is the principal pay down and the interest paid out. So what the builder is going to be charging you is pretty similar to what you would pay in interest if you had a mortgage with 20 percent down. That makes sense. That makes sense to me. I don’t know, because you’re the expert. And then I say, and then I say, Look, the interest that you pay on your mortgage is lost money to you with regard to whether it goes into the bank’s pocket or it goes into the baby’s pocket. You don’t care that money. Money’s gone. Right, right? And that’s pretty much what the builder will charge you.

Erwin Szeto [00:52:23] It’s like rent.

Todor Yordanov [00:52:24] Yeah, it’s like it is like when? Because you have four to four years of the unit, that’s cool.

Erwin Szeto [00:52:30] And that’s cool. I didn’t know you can Mendez.

Todor Yordanov [00:52:32] You can rent and you can move in. You can sell it to changing anything.

Erwin Szeto [00:52:35] No, but I love the fact that you’re renting agreements to say that you’re allowed to allow rent.

Todor Yordanov [00:52:39] Yeah, always. That’s one of the things that I always look out for.

Erwin Szeto [00:52:43] That’s awesome. All right. Twitter running out of time. Thank you so much for doing this. You’re welcome. Anything else you want to share? Any final thoughts? We didn’t go into that one. Which how much? How much we make. We joke about how wrong the information was about condos. You live in, you learn and says, Look, you’re capitalizing now.

Todor Yordanov [00:53:05] Exactly. I don’t want to go back to that because I, you know, we were led in one direction and it was a good direction. We learned a lot and we did a lot. And then, you know, I come to realize that I still know very little about they always say, Yeah, there is. There’s so much more to know and there’s so much more to do. Right? So I guess the you know what I often talk about and what I often think about is like. All we need to get the fear out and the risk out of our minds because this is this is it’s not even a question of risk and it’s not even a question of fear. This is happening. We know what it was. Faith works. We know that it’s extremely unlikely that you can lose money in Real Estate. And even if that was to happen, you’d still be OK. Mm hmm. Like, it’s not the end of the world. Right, right. Like when we evaluate risk and fear and it’s like, Oh my God, like fifty thousand dollars or six thousand dollars? And what if this happens ten years from now, 15 years from now, we’re not even going to remember it. But if you keep on investing, you could keep on buying. Your life will change. It will change. And you know, with your clients how you’ve changed lives by what you’ve been doing and what you’ve been coaching people to do and helping them to do. And then five, six years, you know, I don’t know if they come back to you and say, like Erwin, thank you so much. My life is completely different. Thanks to you. Probably not. But you do know that the path was changed for the better to them. And I love it. There was just like, Just grow. Don’t be afraid of going in. Don’t be afraid of doing things, especially Real Estate. Hamilton trying to sync up all the way to Niagara Falls. Everything you touch is gold 15 years from now guaranteed. You know, obviously by rights that obviously I get a good property and a good location, something that is happening in that location, transportation, jobs improvements and don’t think about it. There’s nothing to think. All you have to do is employ a couple of people, you know somewhat to handle your finances, mortgages, getting your money down, payments and financing. And all that is somebody to go out and look for a good property for you. You don’t.

Erwin Szeto [00:55:36] Right, right. And you mentioned risk the worst case yet to rent out your condo so you can close it. Worst case, you’re renting. I’m sorry. So you can’t say you can’t assign it so you can flip or whatever worst case you rented it. What’s the demand like for rentals?

Todor Yordanov [00:55:51] I have friends, and I kid you not calling me and saying, you know, can you? Can you show me? And we’re really talking about the building across the street from me, right? And it’s like, I see this unit. Can you show it to me? And I’m like, Is it with an agent? Yes, it is. I’m not going to show it to you because I will be doing you a disservice if I show it to you, like I can walk into that building. It’s not going to take me time. Why? Because the demand is so high, you know? And then when you go to agents like you, everybody’s doing their due diligence and you’ve got to do a lot of paperwork. And I was like, Look, John Kijiji or just go directly to the listing agent, go directly to the owner and deal with them directly. So don’t what I’m trying to say is, I think, rent within seconds, within minutes. Yeah. So they think that because I know condos, they have a better chance with me. I’m like, No, you don’t. You know, you just you really need to get. You have to talk to the owners directly. Right? And do something different. Something so competitive right now, so competitive

Erwin Szeto [00:57:03] that friends with the condo young and shepherd. I think overnight they had eight offers for rent overnight the first night.

Todor Yordanov [00:57:12] Yeah. Right, exactly. So why do I tell them not to use me? Because if they use the listing agent, the listing agent can help making the deal happen. And you know, the incentives for the listing agencies to, you know, take the whole commission or maybe reduce the commission a little bit, then help the owner. And if they can go directly to the owner and I don’t know, but I’m just telling them, you just have to be very, very quick and very organized in order to be aggressive. Super, super competitive and difficult to get in to see.

Erwin Szeto [00:57:50] Sounds like you’re in a good business owning condos in the city. Oh, and I’m sorry, I want to ask another question. Yeah. Is it just your focus within the city or do you not focus outside? Or is it not as good an investment to be outside the city?

Todor Yordanov [00:58:04] No, that’s a great question. I did look outside of the city at the end of last year and early this year, and I was ready to go. I was very, very excited. I made some phone calls and I was looking at some projects visiting some projects, all like the whole show, all the way to the other Stoney Creek. Think you have great, great big construction projects you have? Great reconstruction progress. It’s just like, I’m busy here at the moment, I’m not super busy here, I’m going to be looking at other projects that are selling well and other projects that have potential for investors or will be just like they have buyers that are looking for this kind of stuff. And I’ll be all over those projects. But you know, just right now, I’m, you know, I can only do so much so that I can only focus on two projects in a month and do those. But you know, there’s great projects all over the place, including Hamilton, including Stony Creek, including Grimsby, including Burnsville as Profits right now by Empire over megaphones, REIN conference everywhere.

Erwin Szeto [00:59:15] You can’t be everywhere either,

Todor Yordanov [00:59:17] or we can’t out there exactly be just like so much happening right now.

Erwin Szeto [00:59:22] Twitter For folks who want to follow with you, how should they do so

Todor Yordanov [00:59:25] or they can? Best thing is to reach me by email text. My email is my first name and we are gonna follow our day and we both come back.

Erwin Szeto [00:59:38] I don’t generally recommend people to give their emails, give a website Instagram, Snapchat.

Todor Yordanov [00:59:45] I do have Instagram. I don’t know what my Instagram account

Erwin Szeto [00:59:49] message to be later. So you like email best, so I could include your email in the show notes. Hopefully, it won’t

Todor Yordanov [00:59:55] break my name. I think I think my Instagram should be my name.

Erwin Szeto [00:59:58] I will look it up and include it. Yeah, the politicians sniffles this tree season. So I’m sniffling. Oh, Twitter, thanks so much for doing this.

Todor Yordanov [01:00:08] It was a pleasure when it’s

Erwin Szeto [01:00:09] been long overdue.

Todor Yordanov [01:00:11] Pleasure and honor to be on your podcast.

Erwin Szeto [01:00:14] Thank you. Thank you. We’ll talk

Todor Yordanov [01:00:15] soon. Okay, take it easy. My name.

Erwin Szeto [01:00:24] Are you looking to the Greater Toronto Hamilton area? Are you interested in becoming a real estate investor, earning extra income in your sleep without getting calls from tenants or unplugging toilets? Then please join us live and in person at the Halton Real Estate Investors Group meetings at the prestigious Sheridan College in Oakville, Ontario. Our meetings are catered to both seasoned and novice investors to share and educate the fundamentals and truth about real estate investing so you two can earn seven figure net worth like our clients and guests of the show, how great it would be to be financially free to take more time off your family, retire earlier and more comfortably, or to support your favorite charity. If this is of interest to you, then get on the invite list at WW W Dot Truth about real estate investing dossier slash meeting. The host of the meeting is yours truly Erwin Szeto? That’s me, a four time winner of the real estate agent of the Year to investors for the years 2015, 2016, 2017 and 2018. Results are not guaranteed by our investor clients who’ve been with us since 2012, earning over 400 percent returns on cash flow and investment property. So come take us out soon, as you can do to enter your fire code regulations. We can only have so many attendees and we have been waitlisted in the past, so don’t wait to register at WW Dot Truth about real estate investing dossier slash meeting. But you for listening. And if you enjoy the show and we like to learn more about real estate investing, then you do not want to miss my top 10 tips on Real Estate report. It is free to download. I’ve interviewed many of the leading authorities in Real Estate, including bestselling authors Julie Broad, Gunnar Campbell, Russell Westcott and Tom Carranza, a superstar investor. Guests include folks who acquire two properties

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