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John Helfrich, Broker, Real Estate Homeward , Brokerage | 416.698.2090 | Direct: 416.464.8920 | John@EastEndTorontoHomes.com

Toronto Real Estate Investing Guru Shares Her Secrets

June 16, 2011

How to succeed at Toronto Real Estate Investing

Toronto Real Estate InvestingCindy Wennerstrom could be the poster-child for Toronto Real Estate investing. Over the last 5 years she's acquired 7 profitable investment properties, in Toronto, while holding down a full time corporate job.  And she's done it on her own.

People noticed. She's been interviewed by most Canadian media outlets for her audacious and profitable approach to Toronto Real Estate investing. She's been a keynote speaker at the Real Estate Investment Network conference. A lot of people would like to know how to do what she's done.

Doing What Can't Be Done - Creating Positive Cash Flow from Toronto Real Estate Investing

Wennerstroms approach to real estate investing flies in the face of today's popular beliefs. For years I've heard that "Prices in Toronto Real Estate are too high." "You can't find an investment property that makes financial sense these days!" Her response is  "That's absolutely false."

After listening to her speak for 2 hours on how it's done, I believe her. There's no arguing the fact that Cindy bought and transformed 7 East End Toronto homes into highly profitable investment properties. Each one spins out $700 to $1,000 per month after all expenses and contribution to a reserve fund. And she's ready to buy more.

Toronto Real Estate Investing may not be quite as easy as the next few paragraphs make it seem, but it is possible. And if you're the kind of person that has a craving for a 2nd (or more) property, Cindy brings common sense and clarity to the process.

The Secrets

Finding the right property- Often it's not about finding the right investment property, it's about creating it. You make money with Toronto Real Estate by solving problems. And that often means renovating and redesigning. Turning 1 unit into 2 is good, 3 is better. Search East End Toronto neighbourhoods for potential investment properties

Financing - In the beginning, the bank is not your friend. Be prepared to deal with a mortgage broker and secondary lenders. And turn yourself into a great client. Organize your financial affairs and improve your credit rating before you approach a lender. (Find out how to significantly improve your credit rating)

'Good' is not good-enough - Your objective is to dramatically improve the investment property to the point where it can be reappraised at a higher value, then refinanced so you can take money out to reinvest.

'Good' is not good-enough - Part 2 - You need peak market rents to pay the bills and make a profit. So you must create a rental unit that's better than anything else in the area. Then charge a higher rent for it.

Once the property is purchased and renovated, you become a property manager, not an investor. That means you must be meticulous about who you choose as tenants. Remember, only the best tenants. Be finicky, fussy, diligent, painstaking... you get the idea.
Be the best landlord a tenant ever had. It's the tenants that make the mortgage payments and provide your profit. Treat them like valuable customers, or better.

Winning at Toronto Real Estate Investing is about cash flow. It's about holding on for capital appreciation. It's NOT about flipping properties to make a quick profit. I don't have room to get into this here, but  get in touch and I'll explain.

Know yourself. It's a rare person who has all the traits and skills needed to do all of the above. Know when to hire: a Toronto Real Estate Agent, a designer, a contractor, a property manager. When you're ready, get in touch for advice on how to get started.

Make an appointment to view any property.

Tips on Selling a Toronto Investment Property that's Tenant Occupied

You can reach Cindy Wennerstrom at www.oroproperties.ca or email cindy@oroproperties.ca

 

 

 

 


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