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Welcome to a new episode of our podcast, hosted by none other than Dave Debeau. We have an exciting episode in store for you today because our special guest is an asset to the world of real estate, someone who has revolutionized and shed new light on this industry. Ladies and gentlemen, let us extend a warm welcome to Anthony Therrien-Bernard.
“Anthony Therrien-Bernard is a successful real estate investor and an esteemed professional in the industry. He turns every stone, checks every corner and leaves no room for guesswork when delivering promising opportunities to the table.” – Dave Debeau.
Here’s a little bit about the man who is taking center stage today:
- An early bird: Anthony jumped into real estate very young, showcasing an innate talent for strategies and calculations that others take years to understand.
- Result-oriented: His approaches are known to be innovative yet, at the same time, secure and well-planned. This gives his clients the confidence to trust him with their assets.
- The go-getter: Anthony is always up for a challenge and never backs down, fighting every obstacle with a strategic plan and a win-win attitude.
But first, if you want financing for your next investment and want to know what type of collateral may be involved, click the link below for a free strategy call with our mortgage team at LendCity to discuss your specific situation.
Introducing Anthony Therrien-Bernard: A Real Estate Expert
Meet Anthony Therrien-Bernard, a dynamic figure in the Canadian real estate scene. Originally from Quebec, Anthony thrives as a real estate entrepreneur and a realtor based in Calgary, AB. But did you know that he accidentally came upon real estate investing? Yes, that’s correct! Although he has only held his real estate license for about two years, his journey into this sector is fascinating.
Sometimes, when we think of real estate mavens, we often envision individuals who have always been immersed in the industry. However, Anthony is a shining example of successfully transitioning into real estate from a parallel track. That track used to be IT for him, and navigating the change has undoubtedly been a rollercoaster ride filled with thrilling challenges and sweet rewards.
Today, Anthony operates in concert with his partners, Santosh and Nathan. Together, they form a formidable trio at the helm of the Calgary Real Estate Investor Hub. They have carved out a niche in the sector, branding themselves as Realtors specifically catered to real estate investors. Such a tailored approach ensures their clientele receive top-notch service precisely attuned to their unique investment-centric needs.
Challenging earlier experiences with self-managing properties and dealing with unsuitable tenants have refined Anthony’s real estate acumen. He now channels these lessons and many more into his everyday work, helping investors navigate the choppy waters of property investing.
Anthony’s current passion project, which he hinted at in his recent conversation with Dave Debeau, involves splitting a full duplex and selling it as separate titles – a testament to his innovative approach to real estate investing.
You can learn more about Anthony’s ventures and follow his ventures on Instagram under the handle @investwithanthony.ca. Stay tuned; he’s just getting started!
Understanding the Concept of ‘Time-In’
To understand Anthony Therrien-Bernard’s approach to real estate investment, it’s crucial to grasp his key concept – ‘Time-In.’ Simply put, ‘Time-In’ refers to how long an investor holds onto a property and emphasizes staying immersed in the real estate market for a prolonged period. According to Therrien-Bernard, this philosophy significantly trumps the conventional ‘timing’ strategy.
In Therrien-Bernard’s terms, ‘Time-In’ means being a long-term player in the game. It requires finding a decent property and holding onto it for as long as possible. Therrien-Bernard assures us that ‘Time-In’ mitigates short-term market fluctuations and accumulates wealth steadily.
Pulled from his podcast conversation with Dave Debeau, Therrien-Bernard often found value in properties that had initially seemed problematic. For instance, his first property had issues like flooding. However, because he applied the ‘Time-In’ approach and held onto the property for an extended time, it was one of his best investments.
Therrien-Bernard has used this ‘Time-In’ strategy in unique ways, like a contingency plan for holding a duplex if the initial plan to flip didn’t work out. This flexibility reduces investment risk and exemplifies how ‘Time-In’ can work hand in hand with other investment strategies.
In sum, ‘Time-In’ is about commitment, patience, and adaptability in the real estate market. It would be best to remember that beneficial returns in real estate are often reaped in the long run, not immediately. It’s about playing a continual game, not a temporal one.
How ‘Time-In’ Differs from ‘Timing’ in Real Estate
As you already know, in the real estate industry, investors often juggle two pivotal terms: ‘Time-In’ and ‘Timing.’ Our guest, Anthony Therrien-Bernard, strongly advocates for the first ‘Time-In.’ But what are the differences between these two? And why does Anthony primarily focus on ‘Time-In’? Keep reading to get all these answers.
‘Timing’ in real estate essentially refers to a buy-and-sell strategy, also known as flipping, where investors aim to purchase a property and sell it again as soon as the market conditions are favourable. The goal is to make a quick profit. This sounds appealing. However, timing the market is a risky move. It relies heavily on market predictions and often on luck. One must deeply understand the real estate market trends and forecasts, as each misstep may lead to considerable financial losses. Let’s take an example: buying a property when the prices are low with the expectation that they will quickly rise. The reality is that predictability is a risk in itself, as the market is influenced by various external factors, such as the economy, politics, and even global health crises, which are often unpredictable.
Now, let’s focus on ‘Time-In,’ the approach Anthony Therrien-Bernard himself champions. Unlike ‘Timing,’ ‘Time-In’ is a longer-term strategy that refers to holding onto a property for a significant amount of time, reaping the benefits of long-term property appreciation. Anthony shares that his first property had issues, including flooding, but in retrospect, it was his best performer. Why? Because he held onto it for a long duration. ‘Time-In’ helps balance the highs and lows of the market trends, allowing investors to take advantage of long-term growth. It’s not about what the market is doing today or tomorrow but what it will do in a decade or two. This approach reduces the risk associated with market fluctuations and leads to more significant profits over the long haul.
In conclusion, while ‘Timing’ might seem like a glamorous quick-win strategy, the ‘Time-In’ approach intentionally advocated for by Anthony provides a safer, more profitable, and more sustainable path in real estate investing.
Common Mistakes to Avoid When Implementing ‘Time-In’
As simple as it sounds, implementing the ‘Time-In’ strategy in real estate isn’t always a walk in the park. It’s easy to make mistakes, particularly for newbie investors who may not be conversant with the ins and outs of this approach. So, what are some of the pitfalls you should watch out for?
Failure to Legalize Suites
One common mistake an investor can make is failing to legalize new suites. This can lead to severe losses down the line. If you neglect to go through the proper channels, you may have to rip out half of the suite and start over. It’s important to remember that strict enforcement of building codes for suites built after 2018 is now the norm. Therefore, as a ‘Time-In’ investor, ensure that any new construction or renovation meets all legal requirements. Also, remember that most suites require minimal work, such as installing smoke alarms or drywall in a mechanical room, and these small details make the difference.
Overlooking Contingency Plans
Another mistake is not having a contingency plan. Even the most experienced investors may find that flipping a property doesn’t always work out as planned. Always have a backup plan for holding onto a property if flipping it doesn’t pan out. This will save you from potential financial disaster and align perfectly with the ‘Time-In’ principle of staying invested for the long haul.
Failure to Harness the Power of Partnerships
Lastly, eschewing partnerships is another common mistake that can slow down your ‘Time-In’ strategy. Some investors may feel too busy or uncomfortable handling all aspects of the investing process. Remember, you can take advantage of partnerships if you’re one of those. The right partner can help you maintain a smooth operation and provide you with the time to focus on other critical aspects of your life or business.
In conclusion, understanding these common mistakes and how to avoid them is the first step towards mastering the ‘Time-In’ strategy. Take time to learn, plan and, most importantly, be patient. Success in real estate investing is a marathon, not a sprint.
Real-Life Examples of ‘Time-In’ in Real Estate
Let’s dive into some real-world applications of the ‘time-in’ concept in real estate. As Anthony Therrien-Bernard demonstrates, the power of ‘time-in’ shines in his real estate journey.
One of his first ventures into real estate started in 2011, not as a business strategy but out of a personal need for a place to live. He stumbled into investment somewhat by accident when he purchased a property with which he initially encountered a series of issues, including flooding. Despite these challenges, this property has proven one of his best-performing investments. And why is that? It’s not because of his considerable improvements, or it was in a rapidly growing real estate market. It all hinges on ‘time-in’.
“Holding the property for a long duration has proved beneficial in ways we could have never anticipated,” Anthony states.
The property was never intended for a quick flip; instead, it was a rental property planned to be held for an extended period. And with time, this property’s value has appreciated remarkably. The secret to such success was not the timing of buying the excellent property, which initially had issues, but the time spent maintaining it as a steady investment strategy.
Another example is his foray into bigger development-type deals and multi-family properties. These properties traditionally require a certain level of patience due to their large scale and complexity. It’s not about making a quick buck; it’s about ensuring you remain committed to the property, managing it effectively, and then reaping the rewards in due course. Anthony has addressed many of these sizable properties, experiencing first-hand the wealth generation capacity of these investment strategies over time.
These examples are emblematic of what Anthony has advocated for over the years: find a ‘good enough’ property and hold it for as long as possible. This approach highlights the power of ‘time-in,’ demonstrating its importance in successful real estate investment.
The Importance of Patience in Real Estate Investing
Possessing patience is paramount in real estate investing, which Anthony Therrien-Bernard vouches for through his experiences. Often, the successes in real estate investment are not about the ‘right timing’ but rather the result of sticking around for the long haul, holding on to your assets, and letting the market do its magic. This principle, unique to real estate investment, is the ‘Time-In.’
Anthony himself admitted that his first property investment was far from perfect. The property encountered flooding incidents and other challenges, making it seem less than ideal as an investment. However, because of his sheer tenacity and steadfastness to see it through, that property offered the best performance in the long run due to the ‘..time in the market’ concept.
‘Time-In,’ as an investment strategy, is predicated on sticking with your investments over a significant period, allowing you to weather market volatility and uncertainties. It is adhering to a longer-term commitment that differentiates successful real estate investors from others. They give their investments ample time to appreciate and grow, reflecting the ancient wisdom that ‘Patience is a Virtue.’
Implementing the ‘Time-In’ strategy will require you to resist the temptation to make quick and impulsive decisions based on short-term market fluctuations. Instead, it encourages you to maintain a holistic view of your investments, understanding that real estate is a long-term game. As Anthony Therrien-Bernard advises, it is about finding a property that is ‘good enough’ and sticking with it through thick and thin, as this typically reaps greater returns.
In conclusion, while resisting the roller coaster ride of short-term profits and quick flips may be challenging, leveraging the power of patience in your real estate investing strategy can make you a successful investor like Anthony Therrien-Bernard.
Our journey today with Anthony Therrien-Bernard has sure been enlightening. His wealth of knowledge and experience in the real estate industry boldly emphasizes the value of ‘Time-In’ over timing. His path in real estate development, from multi-family properties to much larger projects like a 64-unit townhouse development in Highland Park, is genuinely inspiring.
The key takeaway here is the importance of a comprehensive strategy. It’s not about making a quick buck but rather about taking a longer view, focusing on your time in the market, not just the ideal time to enter it.
Common pitfalls like failure to legalize suites, overlooking contingency plans, and not leveraging partnerships effectively can cause unexpected hurdles. Not only did Anthony underline these common mistakes, but he also shared how one can proactively avoid them.
In the dynamic world of real estate investment, patience is a virtue. A property might not yield immediate returns, but remember, it’s a long-term game and ‘timing’ often loses to ‘time-in.’ Having that patience and a well-thought-out strategy can help weather the challenges and capitalize on the opportunities available in real estate investing.
And if flipping is your style, always remember Anthony’s words about contingency plans. For instance, holding the duplex if flipping doesn’t go as planned is an excellent safeguard.
As Dave Debeau, our fabulous host, says – it’s all about knowledge and implementation. So, with these insights from our guest, Anthony, go forth and capitalize on your knowledge. As this program draws to a close at year’s end, remember, you carry the baton of learning forward. Apply these principles, avoid the common mistakes and watch your investments grow. It has been a pleasure having you with us on this episode, and until next time, stay invested!
If you are ready to start investing today and want more information about how your mortgage may be secured – or are looking to apply for a mortgage today – click the link below for a free strategy call with our mortgage team at LendCity today.