Meet Georges El Masri, an experienced real estate investor with a wealth of knowledge in property conversions and overcoming market fluctuations.
Real estate investing poses many challenges and investors need to learn from their mistakes to thrive in the industry. It is important to keep pushing forward and continually refining one’s strategy as situations evolve.
Adapting to changes in the market or dealing with unexpected obstacles can help investors become more resilient and capable of achieving success. From Georges El Masri’s perspective:
During the podcast, Georges shares his experience of acquiring four townhomes at an unfavourable market height, leading to negative cash flow. Despite the challenges, he persevered and strategically aimed to convert the properties into legal duplexes. Through his determination, he found creative solutions to improve his investments and has turned this experience into a valuable lesson for his future endeavours.
With a track record of success, Georges has navigated the ups and downs of the industry while maintaining a strong focus on community involvement and networking.
As the founder of WellOff, Georges is dedicated to helping others achieve their financial goals through real estate investment. His ability to adapt and innovate in the face of change has earned him a reputation as a savvy investor and a valuable resource for others in the field.
In this episode, you will be able to:
- Master the intricacies of landlord-tenant boards and duplex conversions for a smooth property management process.
- Discover the significance of networking and community involvement in crafting a successful real estate portfolio.
- Uncover innovative strategies for maximizing rental property cash flow and securing financial stability.
- Learn how to adapt and overcome challenges in the ever-changing real estate investment landscape.
- Harness the power of technology for efficient property management and growth.
The resources mentioned in this episode are:
- Consider reaching out to a planner, accountant, and lawyer before buying properties with joint lot lines to avoid potential complexities with title merging.
- Explore the possibility of vendor take-back mortgages when negotiating with sellers, as it may provide favourable terms for both parties.
- Be prepared to pivot and explore alternative strategies if your initial real estate investment plans don’t work out as intended.
- Keep in mind the potential challenges with tenant evictions and the landlord tenant board process when planning for property conversions.
- Research the municipality and its regulations when applying for minor variances or other zoning amendments to ensure a smooth process.
- Look into investing in growing cities like Welland, Ontario, which is known for its business-friendly environment and potential for growth.
Brought to you by
BM Select/Butler Mortgage – https://bmselect.ca/