How I Bought 3 Condos With No Job

How I Bought 3 Condos With No Job

Every inexperienced investor believes they need to work hard and save up to put money down for an investment property.

I’m happy to break it to you — this is not true.

I have bought more properties without a job than when I had a job.

Let’s be clear on one thing though: I am not throwing shade on those who have a job. In fact, I am about to start another 9-5 job very soon. Huh? Yes. Read on.

For the last 5 years, I was working over 70 hours per week, but only paid for about 54. How does that work?

Most people (especially employers) only count the hours they pay you as the hours you “worked”. However, the job usually takes up much more of your time than what you’re paid to do.

Most people wake up or start getting ready for work at least 1 hour before they start getting paid, and they often get home 1 hour after they finish getting paid (especially managers!). And most employees are not paid to eat lunch or take breaks during the day.

So in reality, our jobs take up much more of our day than we get paid for, and that time is invaluable when you’re trying to pursue other passions like real estate.

Do the math: there are 120 hours in a Mon-Fri work week. If someone sleeps 8 hours per night and works 40 hours/week (37.5hr if you take away lunch breaks), that leaves 42.50hr/week “free”. So how and why is everyone so tired and burnt out if there is that much “free” time each week over and above of weekends?

It’s due to the extra hours we put in around our jobs that secretly steal our time away from us.

So in those 5 years that I spent over 70 hours per week tending to my managerial job, I had very little time or energy to for anything else other than my marriage, and physical and mental health.

When I resigned from that position in October of 2021, I was offered a different career that would provide me with a little more flexibility and a better work-life balance. This would provide me with more income, more opportunities and more free time to pursue my interests in real estate. All I had to do was wait for a new work permit to come through.

So I suddenly found myself with a LOT more free time…when I wasn’t helping out more around the house with cleaning, dishes and meal prep 🙂

I used this time to figure myself out. I learned what I wanted to do. I set goals. I immersed myself in the real estate world where I’ve wanted to be for so long.

It took 4 months from the day I started building my personal brand on IG to closing the purchase of 3 vacation rental condos in Turks and Caicos. Two months of that was the closing period where due diligence and financing were sorted out.

I built up a small social media following. I posted content about Turks and Caicos relating to real estate. I educated people on what it’s like to invest in this country. I followed people who were doing similar things.

Someone soon reached out to me and said “tell me more”. We had a zoom call and 2 days later she said “I want to invest there – let’s do this!”. Two days after that, she told me she had another friend who was IN as well. An offer went in that same week. It was accepted, and 2 months later they came down with their families to celebrate the closing of our new investment.

This would simply not have happened if I was working over 70hr/week at a job. I would not have had the time to spend on IG creating content and building relationships with other investors.

I’m not suggesting you quit your job and do what I did. Remember, I was forced into this position while I wait for a new work permit. I will be entering the 9-5 world again soon, but I wanted to show you what can happen when you have more time freedom to focus on what really makes you happy.

The irony of all of this is that the income we will earn from those 3 condos will nearly replace my new 9-5 income and already surpasses the previous income!

Continue to follow along my journey on IG @palm.tree.life and if you want to be part of our next deal, go to the contact page and send me a message.

You can also sign up for my newsletter where I share information (~ once per month) about Turks and Caicos and the real estate market here, including potential investment opportunities.

See you in paradise!

MP

How I Started My Rental Property Business

How I Started My Rental Property Business

The steps for starting a rental property business are similar to most other business ventures. It’s much easier to achieve investment goals and financial objectives when there is a plan in place. If you fail to plan, you plan to fail. It’s that simple.

While every real estate investor may take a different path, here are the main steps I followed to start my rental property business:

  1. Networking and education

Getting a good education builds a solid foundation for a rental property business. Real estate is all about who you know and what you know. I became educated by reading books and blogs, attending in-person networking events to rub shoulders with other investors, and signing up for online real estate courses, virtual events, coaching, mentoring etc. I treated every opportunity as a learning experience.

Having said that, I learned the most once I made the decision to dive in and commit to buying my first property. I did it alone, but you don’t have to do that. You can partner with someone more experienced and have them guide you through the process until you’re comfortable enough to do a deal on your own.

  1. Consider the different types of investments

Single-family houses, condos, and smaller multifamily buildings are popular among first-time rental property investors. Houses, condos and apartments are plentiful, simple to comprehend, and come with a choice of financing options. Condos have the added bonus of having someone else take care of the exterior and included amenities. I don’t advocate new investors getting into the wholesaling or flipping business. Those are not as easy as people make them out to be.

  1. Check the numbers again (and again)….and again!

Investors want properties that generate cash flow, appreciation, and have their tenants paying down the mortgage. We examine the potential profits from rental properties using a range of financial criteria, including:

  • Gross rental income
  • Operating expenses
  • Net operating income (NOI)
  • Cap rate
  • Cash flow
  • Cash-on-cash return
  • Appreciation and rent growth
  • Internal rate of return
  • After repair value (ARV)
  • Mortgage rates/terms
  1. Options for Financing

Most beginner investors finance rental properties through a traditional bank because it’s all they know and what they probably did for their primary residence. However, the key to maximizing cash flow and ROI is to source a variety of financing options before making a decision. A bank is typically not the best option. Different investments also work better with some types of financing, but not others. One type of financing I like to deploy is owner financing, sometimes referred to as a vendor take back (VTB). In this scenario, there is a LOT of room for negotiation.

A typical owner financed strategy involves giving the seller a relatively small down payment of maybe $20-$30,000. Then every month or quarter, the investor pays “rent” to the owner which covers the owner’s expenses plus a little extra. At the end of 1-3 years, those regular payments add to the initial down payment which then better positions the investor to obtain a traditional mortgage from a bank or private lender. We have done this a couple of times and it has worked out very well.

  1. Management Responsibilities

I always recommend new investors to manage their first couple of properties themselves. Some of these reasons include learning how to fix things without hiring someone to do it, interacting and negotiating with tenants, managing income and expenses, screening tenants etc. After a year or two of doing that, there are NO questions asked when they hire a property management company and get charged 10%/month for their services. That is money WELL SPENT to free up your time to continue sourcing and financing more properties.

If you want more details on anything explained here, feel free to reach out to me or join my newsletter where I continue sharing tips, strategies and pieces of my story each month along with exciting new investment opportunities in Turks and Caicos.

All the best,

MP

Why Invest In Turks and Caicos?

Why Invest In Turks and Caicos?

Only 8 months before I moved to Turks and Caicos in 2014, I had never heard of this place. I had no idea where it was even located on a map. When I talk to people today, most have also have never heard of this beautiful place.

Just to quickly catch you up to speed, the Turks and Caicos Islands are made up of 40 low-laying islands just north of the Dominican Republic. It has a 14-mile barrier reef off the north shore of the main island – Providenciales, and a dramatic 2,134m underwater wall off the coast of the capital island – Grand Turk. Providenciales (Provo) is the most populated island and where most of the tourists flock to visit, which is a 1hr45 flight from Miami or 4h from Toronto.

Grace Bay Beach is located in Provo and spans 12 miles of perfect white sand and crystal clear water. This is where most of the hotels and resorts are located. Grace Bay has been voted the number 1 beach in the world for many years from various sources and media outlets.

Aside from the crystal clear turquoise water and the white flour-like sand on miles of perfect beaches, and the 25-30C daily temperatures, there is a lot of amount of money that can be made around real estate in Turks and Caicos.

Here are some of the ways investors take advantage of what Turks and Caicos has to offer and why Turks instead of other countries:

1. Popular tax benefits:

  • no property tax
  • no income tax
  • no corporate tax
  • no inheritance or estate tax
  • no capital gains tax

2. Wide variety of investment opportunities:

  • Villas – standalone or townhome style
  • Condos – managed by the resorts themselves, property management companies or self managed
  • Land – it’s a premium on a small island
  • Businesses – relatively easy to start a business in terms of paperwork. The challenge is in finding reliable labor. Many many opportunities.
  • Construction – shortage of long term rentals and labor.

3. More development starting to take place on neighboring islands that are more pristine and undeveloped. They are arguably more beautiful than the main island. Many tourists take day trips to tour these best kept secrets. Prices for land are relatively still cheap on those islands.

4. Numerous luxury concierge services to accommodate the long list of celebrities and high net worth individuals who frequently visit. This includes a private airport, chauffeur services, private chefs, butlers, concierges etc.

5. Small island = short drives to everywhere tourists want to go

6. Low level of crime.

7. 350 days of sunshine every year

8. The majority of hotels and resorts are VERY expensive. Middle class tourists need alternative options for accommodations.

9. Many flight options to and from major hubs including Miami, New York, Ft Lauderdale, London, Montreal and Toronto

10. Operates with USD currency and governed by the UK

In many cities around the world, STR’s need to compete with the local hotel industry. In Turks, the nightly rates that can be obtained in STR’s are impressive as they “compete” with very high local hotel rates. In simpler terms: a lot of entry level vacation rental options can charge a premium price and still be considered a bargain for tourists. After that, the value tourists receive from rentals with rates above $1000/night doesn’t even compare to the hotels and resorts.

In the last 2 years, Provo has seen unprecedented growth in real estate from sales to construction and there is no indication of this slowing down anytime soon. The pandemic opened the eyes of wealthy individuals who obviously still want to vacation with their friends and family, but prefer to do it more privately rather than at congested resorts. This demand helped fuel the construction of villas and residences across the island.

If you would like to learn more about investment opportunities in Turks and Caicos, sign up to my newsletter here to receive intriguing investor news about Turks and Caicos and the latest cash flowing opportunities that catch my eye.

You can follow along with me on Instagram as well to get more insight on what it’s like to live in Turks and Caicos.

Cheers,

Mark

Why Airbnb Works Well In Turks and Caicos

Why Airbnb Works Well In Turks and Caicos

When you think of the top Airbnb destinations, you likely think big, fancy or exotic cities/towns like LA, New York, Miami, Paris, Rome, Phuket, Dubai, Greece etc. However, those places typically have a lot of competition with a wide variety of discounted or chain hotels and motels. Many big cities also have tight restrictions on vacation rental properties ie. short term rentals are banned or a limit of 1 per person.

So if short term rentals are not easy to run in your area, why not consider investing in one outside of your area? Out of state or out of country investing is becoming much more popular due to inflation, higher purchase prices, lack of inventory and taxes. It’s becoming easier to obtain mortgages and buy properties in areas you don’t necessarily live. The power of social media also allows us to build reliable connections with people who can help acquire and manage successful property investments.

Turks and Caicos is one of these countries that has proven to be rewarding for all kinds of real estate investors. Below are some of the reasons why investors prefer to put their money to Turks and Caicos for short term rentals.

  • popular upper class tourist destination
  • no local taxes (income, inheritance, property, estate, capital gains)
  • direct flights to/from Montreal and Toronto
  • short flight to Miami or DR
  • local hotels are very expensive
  • easy to explore the island freely and safely
  • cleaning labor is cheap
  • everywhere is close to a beach
  • lots of amenities

The combination of all of these points make Turks and Caicos an excellent Airbnb location to invest. The various types of vacation rental investments in Turks include:

  • massive luxury stand alone villas
  • townhome style villas
  • condos at boutique resorts
  • residences in high end resort complexes
  • boats (yes, you can rent a boat)
  • private estates for $47,000/night

Our preference are the condos at boutique resorts. I’ll keep this short and save that reasoning for another post.

If you would like to get involved in the Airbnb market in Turks and Caicos, contact me now and see what is currently available. If you want to buy and have us manage it for you, we can discuss those details. Typical management fees in Turks are 40-50% of gross revenue (extortionate), but we wouldn’t request that much. We are also open to joint venture partnerships as well.

Take away: do not miss out on profitable out of state or out of country investments because of fear or lack of knowledge. Ask questions and network with people in those areas who know the area well and can help guide you.

Hope this helps.

Mark

Profit Center 5: Mortgage Paydown

Profit Center 5: Mortgage Paydown

The largest expense in real estate, whether it’s a personal home or a rental property, is usually the monthly mortgage payment. This is a combination of the principle repayment of the loan from the lender plus interest. In rental properties, the rent that tenants pay SHOULD be covering all the expenses, including the monthly mortgage amount owed.

It’s critical to find and negotiate a good mortgage with a lender as it has a direct and significant impact on profits. That topic is not for today’s discussion though. I want to talk about the beauty of other people paying off my mortgage!

Mortgage Paydown: simply a repayment of the loan each month that was given to purchase the property. Part of the repayment goes toward the principle (amount owed to the lender) and a significant part of the repayment is interest charged by the lender.

In commercial multi-family rental properties that are relatively new (built within the last 5-10 years), it can be challenging to find one that cash flows well. This is primarily due to 1 reason: the value of a new build is higher so the purchase price is higher, which means the mortgage (debt servicing) is higher and that in turn eats up a significant amount of the rental income. In many cases, the cash flow can be negative.

I am still firmly against acquiring any negative cash flowing rental properties, but for the sake of this article and for those who do believe it’s ok in some cases, I will explain why in SOME cases, investors choose to acquire negative cash flowing properties.

The larger the mortgage on a rental property, the higher the monthly mortgage payments – simple. As mentioned earlier, the mortgage payment is broken down into principle repayment and interest. In larger commercial multi-family properties that cost over 2 million to buy, with the same down payment percentage as smaller properties, the mortgage payment each month is BIG! VERY BIG! This means the equity of that property is increasing a lot each month – much more for a larger property than a smaller property.

The difference at the end of one year can easily be $100,000++ depending on the size of the property. This is why SOME investors will sacrifice maybe $1000/month when they acquire a property if it means earning $100,000/year in equity [$100,000 – (12 x $1000) = $88,000].

After a few years of doing this, and remembering most big lenders will refinance up to 80% LTV, a LOT of money can be pulled out of that one property to be used all over again and acquire another one (my preferred strategy)….or do whatever you want with it.

I hope that gives you a better understanding of why some investors may purposely buy a property that does not cash flow. There are other ways to make significant income from a property, but with that larger income comes higher risk. Otherwise, everyone would be doing it. Obviously, you also need to have extra money to invest every month for a number of years to make something like that work. That’s not including the unforeseen costly expenses and emergencies that can and sometimes do occur with rental properties.

Summary: find the biggest multi-family rental property available, leverage lenders as much as possible while maximizing cash flow, and watch the equity build MUCH faster than smaller investments.

Have a great week and let me know if you have any questions about tenants paying down your mortgage in rental properties. I also work with some great mortgage brokers if you need some additional technical assistance.

See you on the beach!

Mark

Competition in Multi-Family Properties

Competition in Multi-Family Properties

This post complements the video I sent out this week. You can watch that very windy video by clicking here! I want to keep the videos as short as possible, so I will elaborate a little more on the competition in acquiring multi-family (MF) properties. Question: why do we actually have fewer people competing against us when acquiring our type of MF properties? The main reasons are listed below. Most are centered around a lack of knowledge in this specific area of investing.

  1. Assuming the acquisition process is more difficult than SFH
  2. Not enough capital to invest
  3. Lack of understanding of how to manage a larger asset
  4. Not competing against large companies, institutional investors, or investment groups.

When I was acquiring my first single family rental condo, I had already purchased my primary home. I knew that process, so I just duplicated that and acquired another one to rent out. It was simple. Most people know how to do this. I had no idea how to 1. Find larger commercial properties 2. Identify the expenses and project cash flow or 3. Actually acquire the property, meaning the process involved and qualification terms. These factors will keep a lot of potential investors from trying to acquire MF properties.

I think the main reason more people shy away from commercial investments is because they don’t have the capital or investment required to obtain these cash machines. Most new investors I have met want to do everything on their own. They want to own and run a rental property all on their own. The issue with that logic (aside from being completely ignorant on creating true wealth) is that most people do not have $300,000-$500,000++ kicking around to buy a commercial property. So instead, they save up smaller chunks of $20-$60,000 at a time and buy smaller properties …sometimes with the help of their own equity. I’m not sure if you’ve done the math yet, but this is an incredibly slow way to generate wealth in real estate.

If you’ve ever managed a rental property on your own, you’ve probably hated is at much or more than most real estate investors. I managed my own first rental property, and although I did a good job managing it, and always ensured it made money, it was such a pain in the butt to deal with each month! Can you imagine multiplying that experience by 10? or 20? or more, depending on how many units are in your apartment building? Commercial buildings can have pools, elevators, underground parking, balconies, boilers, storage facilities, communal areas, party rooms, individual hydro meters, fire escapes, etc etc that are not commonly found in single family properties. All of these things need to be managed properly. Updated. Replaced. Cleaned. Upgraded. Maintained. Certified as safe, inspected etc. The majority of investors do not know how to manage any of these things. Investors get scared off when they don’t understand a particular type of investment because they know they will probably lose a lot of money in miscalculations and simple ignorance.

The small to mid-range multi-family properties I focus on are not big enough for large companies, institutional investors or investment groups to buy, so I’m never competing against the big boys, which is actually much harder to do than competing against average investors. Why? These big conglomerates have a LOT of money and don’t always care to acquire the best deal. They just need a place to park their money (safely) and have it grow slow and steadily.

Summary: The types of MF investments I focus on produce above average cash flow with above average ROI’s, and do so with little to no competition from other investors or conglomerates.

Contact me at mark@perryinvestments.ca to learn about the MF properties we are currently analyzing and why they make great investments.

Stay hungry!

Mark

Profit Center 4: Forced Equity

Profit Center 4: Forced Equity

We’re now over halfway of going through the 7 different profit centers associated with rental properties. In my last post, I discussed Instant Equity. In this post, I’m going to explain Forced Equity and how it can add significant income to your next rental property.

Forced Equity: performing minor (or major) renovations to increase the value of the property.

This kind of equity can be increased in a personal home as well as rental properties. Most often in personal homes, forced equity happens just before putting the property on the market to sell. It increases the value of the property and makes it more appealing for new buyers.

In rental properties, forced equity is a great idea to implement at any time during ownership. Yes, it’s more common to invest money into the property just before selling it so it attracts buyers and top dollar. However, these renos can also increase monthly rents.

Once a tenant moves out, a paint job is standard to give the place a fresh look. It also covers up dents and scratches that new potential tenants won’t appreciate. It may be time to replace vanities, bath tub and light fixtures. Good lighting can make a big difference in a rental unit. If the unit has carpet, it can be a good idea to replace with a laminate flooring alternative. It looks nicer and easier to keep clean.

It’s also important to take care of the exterior of the property. This includes landscaping. A property that has good curb appeal will attract a steady stream of tenant interest, which means you can set a higher standard for tenants living in your building. Exterior paint generally fades, so it’s important to re-paint the exterior every couple years or so.

Larger renovations obviously can do more wonders for a building. Things become outdated. It’s normal. Potential tenants don’t want to see appliances that are rusty and clearly 15 years old. Out with the old and in with the new! It can be expensive to change out all appliances in a multifamily building at the same time. Even changing them all out of one unit can be costly, but think about the bigger picture: higher rents, attracts better tenants, and they are more energy efficient which will reduce your expenses and increase cash flow.

Replacing old furnaces with a boiler system is another costly upgrade, but one that can save you a LOT of money in heating expenses. This type of upgrade doesn’t do anything for attracting tenants, but it does big things for your bottom line.

All of these upgrades, big or small, are types of forced equity. They can have immediate impacts like increased monthly rents or reducing expenses, or they can increase the market value of the building when it’s time to sell. Commercial multifamily properties are unique in that the amount of revenue they generate directly affects their market value. So if it’s possible to increase the rents through minor renovations here and there, the overall market value of the property also increases. It’s not necessary to spend tens of thousands of dollars to increase the market value of a property.

So how EXACTLY is the forced equity received? It’s a good idea to take before and after photos of renovation projects. These can be used to show appraisers what you’ve done to improve the property. Once noticeable renovations are completed, you can prepare a little presentation showcasing the improvements you’ve done to the property – inside and out. Give this package to an appraiser and have them conduct a new appraisal for the property. This costs money and is generally not done in the first few years of ownership. When it comes time to re-finance or sell the property though, that is when an appraisal is good to have so you know how much your property is worth.

In terms of re-financing, if I bought a property for $500,000 and completed upgrades mentioned above, and an appraiser says my property is now worth $550,000, then I just “earned” $50,000 of additional equity. The value of my property increased by $50,000. I can now access up to 80% of that equity from my lender in a home equity line of credit (HELOC). I can now also increase the listing price of my property if it’s time to sell, which will lead to more profits.

In summary: a little bit of elbow grease can go a long way in rental properties, especially larger multifamily properties. The improvements and upgrades can immediately increase rents, lower expenses and increase the overall market value of the property and thus, increasing profits.

If you’ve ever done these kind of upgrades before and saw a large ROI because of it, or you’re interested in doing something like this with me, send me a quick message to mark@perryinvestments.ca and we can talk!

Cheers to profits!

Mark

Profit Center 3: Instant Equity

Profit Center 3: Instant Equity

I previously covered the two most well understood profit centers in rental properties (#1 here and #2 here). This post will quickly explain a less obvious profit center that happens before we even take possession of the property! Who doesn’t like instant returns??

Instant Equity: the positive difference between the MARKET VALUE and PURCHASE PRICE of the property.

I emphasize market value and purchase price because I don’t want anyone to get confused. If the asking price of a property is $350,000 and I negotiate a sale price of $325,000, did I earn $25,000 in instant equity? Maybe, but not necessarily.

If the value of the property is only $330,000, then my instant equity is only $5,000 since I only purchased the property for $5,000 under the market value of the property. Conversely, if the market value of the property is $375,000, and the seller wanted a quick sale and asked for $350,000, then I actually made $50,000 in instant equity ($375,000 – $325,000). This is assuming I can get full market value when I decide to sell. As we know, real estate has generally increased in value over the long term, so this should be a true realization.

Therefore, it’s always important to understand the true value of the property when entering negotiations. Just because I get the seller down $50,000 from their asking price, doesn’t mean I got a good deal. Also, acquiring a property for the asking price does not mean you got hustled either. Maybe the seller doesn’t know the true value of their property (happens more often than you may think) and you want to acquire the property ASAP before another savvy investor scoops it from underneath you, so you offer the asking price and avoid back and forth negotiations. This also helps reduce the chances bidding wars.

In summary: always try to “earn” as much instant equity as you can when negotiating with the seller. This adds to your bottom line and ROI when you sell, but also reduces your debt servicing, which directly increases cash flow.

Keep an eye out for Profit Center #4 coming soon!

Stay strong.

Mark

Profit Center 2: Appreciation

Profit Center 2: Appreciation

Spoiler alert: although money can be made with appreciation, this is NOT the main reason anyone should get into real estate investing.

In my previous post in a series explaining profit centers of rental properties (Cash Flow: Profit Center 1 of 7), I explained the number 1 reason everyone SHOULD invest in real estate. Many inexperienced investors have a “theory” or hope that any particular property will become much more valuable over time. While this is hopefully true, it’s not guaranteed and is purely speculative. Speculating in real estate is a dangerous game to play.

Appreciation, in terms of real estate, is simply the increased value of a property over time. If I bought a property today for $400,000, and in 10 years I was able to sell the property for $450,000, that means my property appreciated by $50,000. Many factors can influence a property’s appreciation – additional parks, businesses and services, increased development, positive economic growth factors, public transit upgrades etc. A property’s appreciation basically increases as the demand to live in that area increases.

Savvy investors will buy undervalued properties in areas they know are planned for growth. Property sales will increase when news drops of upgraded public transit plans. In Ottawa, Canada, when news broke they were going to develop a new LRT system in the city, property values near the proposed route skyrocketed. Investors who acquired properties early on will reap the benefits once the system is completed. Not only will the value of their rental properties increase, but they will also be able to charge premium rent as demand for housing increases along the public transit route.

When things go as planned, appreciation is great. What happens when things go wrong? Using the same example above in Ottawa, what could happen if I predicted wrong? Say I learned about the new proposed LRT route and quickly purchased a property nearby for $500,000 with the intention of selling it off 5 years later after completion. I run the numbers and get input from agents and brokers. The numbers indicate I could sell for $600,000 in 5 years!

So I purchase the rental property, but it doesn’t cash flow. It actually costs me $300 out of pocket each month to pay all the expenses. I say to myself it’s ok because losing $3600/year ($300×12) will still be worth the $100,000 payoff in the end! 2 years later and half way to completion, the contractor goes out of business or they find out they need to re-route part of the rail system due to unforeseen circumstances or the courts get involved and stall construction or a meth lab is discovered 1 block away from my property.

All of these things can happen and would be a nightmare for my investment if I purchased solely for the appreciation. Each month that the project gets delayed is another $300 lost. That may not be such a problem…but what if the route needs to change and no longer goes in front of my property? The value of my property will decrease dramatically overnight….as would public knowledge of a nearby meth lab! The value could even drop below what I paid for the property!

In summary: None of these events could have been predicted. This is why investing on speculation is dangerous. It is imperative to invest in a rental property that makes money as quickly as possible. It doesn’t matter if it’s a buy and hold or a flip. Make sure you get your investment to make money as soon as possible. I will not look at a property that does not cash flow from the first month.

If you want to team up in some hands-off real estate investing that can product income immediately, contact me and I’ll show you how we do it.

See you on the beach!

Mark

Happy New Year!

Happy New Year!

Another year has ended and a new year has already begun. If you are like most people, 2018 was a challenge with some positive experiences sprinkled throughout the year as has been the case for most years before that. The great news is that you are here right now. You got through whatever happened in 2018 both good and bad, and aside from any unfortunate tragedies, you will also get through whatever 2019 has in store. Just keep swimming!

My 2018

Overall, I had a great year! 2017 was a transition year for me with a new relationship and a new job, and I knew in my gut that 2018 was going to be the beginning of something great….and it was! I always reflect on my years with perspective. I consciously review each year and reflect on what went wrong, how it happened and what I learned from the experience. I also do the same for all positive experiences and try to figure out how to tip the scales with more positive experiences.

Good things that happened that were planned:

  1. Travel to Italy
  2. Paid off ALL debt
  3. Living in Turks and Caicos for another year
  4. Get educated on multi-family investment properties

Good things that happened that were not planned:

  1. Proposing to Lili in Italy (a few hours after this blog photo was taken)
  2. Launched a real estate investing website
  3. Started a Youtube channel
  4. Parents visited me in Turks and Caicos for the first time

Unforeseen challenges:

  1. Managing 10 staff members with weak skill sets
  2. Working far more unplanned extra hours
  3. Not being able to accompany my fiancé to Canada for the first time
  4. Being pulled away from the gym late in the year and unable to hit my goals on top of losing mass

So you can see that great things can happen whether you plan for them or not, and bad things can happen even when we try to avoid them. Life happens. Embrace it. Move on. We only lose when we stop trying.

My 2019 plans (without giving away all my secrets!)

  1. Marry my best friend and supporter
  2. Increase my number of income generating assets
  3. Continue to develop quality Vlog content
  4. Write quality blogs on a consistent basis
  5. Create memorable experiences with others
  6. Develop a solid income generating side hustle

I do not make new year’s resolutions anymore. They don’t work. We do not need a calendar date to begin a project or start a new habit. I start new habits or new projects whenever I want….even in December! And you should too. The time is always NOW.

Goal setting is important. I do set goals for things I really want or need to accomplish by a specific date. I have a great system for goal setting I learned years ago. Email me about it and I can send it to you.

In summary, the seeds were planted in 2018 for acquiring multi-family rental properties. I got the education. I made the connections. I built the team. 2019 is the year we move forward and put all of those lessons and work to good use. If you want to be part of this growth and earn above average returns on your investments, contact me at mark@perryinvestments.ca to learn more about what we do and how to get started.

I hope you have an exciting 2019! It’s going to be epic!

Mark

 

Contact Me

Mark Perry

Professional Real Estate Investor

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