Should I Become a Developer?

Podcast Episode 64:
Development Is a Senior Strategy.”

Buying and holding single-family homes is a great strategy for anyone starting out in real estate investment. Many people eventually get into multifamily properties, which builds on the experience of basic buy-and-hold. Becoming a developer is a very different type of strategy and is much more difficult. The rewards can be worth it for a senior investor, but there is also a lot of risk involved, and so development should be approached cautiously—if at all.

Download the audio file HERE and the text/handout HERE.
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Multifamily Location Is Key

Podcast Episode 58:
You Are Buying the Neighbourhood.”

When buying a property, you are buying the neighbourhood and neighbourhoods are not homogenous. Do some diligence around schools opening or closing, new public transit soon or in the works, and rezoning. Check parking lots and dumpsters where you intend to buy; these will give you an informal tenant profile. Any environmental considerations?

Download the audio file HERE and the text/handout HERE.
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Rezoning Property

Red Tape

Want to Rezone Real Estate? Diligence Is Crucial!

From time to time, my clients come in and they’re all excited! They’ve found a piece of property and it’s zoned for one use, but it would be so much better if it was zoned for a different use. For example, a property zoned for duplexes would be way better if you could build a 4 plex.

“Barry, how much trouble is it to rezone this property so I can build a 4 plex? There are already a couple of 4 plexes on the block. Give me an estimate of how much time it will take, how much it will cost?” Continue reading