Volition meetup 2019.09
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The secret world of construction financing! Learn how to get the bank to pay for your next project! You've seen our seminars on laneway housing, renovations, flipping and you want to get started. Who wouldn't be interested in unlocking the potential of a home through construction? Maybe you're creating a secondary suite, running a BRRR investment strategy (buy, renovate, rent, refinance), or building a green laneway suite? But there is one major problem standing in your way - money. How the heck are you going to pay for all this? Fear not fellow investor - we've got some help on the way! Hugo, Partner at VINE Group, is coming in to talk specifically about the nebulous world of construction financing. He'll walk through strategies and case studies on how to get your construction project financed! Hugo Dos Reis is a Partner and Mortgage Agent at VINE Group; the #1 team at Mortgage Alliance Canada in 2017 and 2018. Hugo has been in the finance industry for over ten years, cutting his teeth at some of Canada’s largest banks on Bay Street in Toronto. During his time at the bank, he was frequently recognized as a top performer and for the past two years, was named one of the Top 1% of Mortgage Agents in the country. Hugo and his team lead the way with investment financing solutions for clients across Canada and provide financing education presentations to thousands of investors on a regular basis through seminars and workshops. His signature client-focused approach, value-added advice, and background in financial planning is what has helped Hugo with his success year over year. Hugo’s personal philosophy is to “take care of your clients and they will take care of you”. You don't want to miss this opportunity to learn about construction financing in Toronto!
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Volition meetup 2019.09
- 4. @volitionproperties www.volitionprop.com Who is Volition? ● Certified Real Estate Investment Advisors ● Toronto’s Exclusive Investor Realtor for REIN Buyer’s Group ● Nominated for REIN’s Highest Award (Michael Millenear Leadership Award)… (and a bunch of other awards: SilverInvestment Award, Bronze Investment Award, Chairman’s Club, President’sClub, Top Producer, blah blah blah) ● $25M+ in personal holdings over 50 doors
- 5. Realty ManagementAdvisory Mentorship & Education & Consultation Acquisition of Investment Properties Design & Renovations Leasing & Property Management Renovations We are Toronto’s leading full-service, bespoke Real Estate Investment Firm
- 6. @volitionproperties www.volitionprop.com We do normal stuff better than normal agents! ● Why list with us? Investor advantage! ○ Your primary residence is a key tool in your investment portfolio ○ Active buyers / investor list ○ The BEST marketing ■ Virtual 3D Dollhouse, Drone, Lifestyle video ■ Multiple languages, foreign investors ● We can also help you find your dream home! ○ Top 1% of all agents ○ Extensive local knowledge of one of your biggest investments ○ Combination personal residence and investment property
- 8. @volitionproperties www.volitionprop.com Private Volition Mastermind Chat Group ● Open to Investor clients & Advisory clients. ● Talk about news, tenant issues, share contacts, basically help navigate the difficulty of this investor world! Let us know if we missed you!!
- 9. @volitionproperties www.volitionprop.com FREE Monthly “REI Coffeehouse” Web Chat ● What: No format. No presentation. No script. Q&A. Real people with real problems. Occasionally guest speaker. Send in your questions beforehand, and then we’ll chat about them and get your questions answered. ● Why: “Meetup once a month isn’t enough! I need more networking, more Q&A time, more learning, more community, more like-minded people, more engagement!” ● When: 12pm-1pm during your work lunch break. Once a month (in between Meetups). ● How: Log on using Zoom.us (webcam & microphone). Scheduled thru Meetup.com (www.meetup.com/Volition) (1. Also, if you have any suggestions on the format, content, etc., let me know!) (2. If you have a suggestion on the SPECIFIC TIME other than the planned 12pm-1pm, also let us know!) ON HOLD!!
- 10. @volitionproperties www.volitionprop.com Our in-house Volition Ambassadors!
- 11. @volitionproperties www.volitionprop.com Sign up for Advisory! ● 60 Minute complimentary Advisory Consultation ● We will help you determine ○ Where you are at ○ Where you want to go ○ Help you build a customized plan to get there ● Sign up with Ed! ● We will reach out to you to schedule a session with our Advisory team
- 14. @volitionproperties www.volitionprop.com Market Update - Sales Volume
- 15. @volitionproperties www.volitionprop.com Market Update - New Listings
- 16. @volitionproperties www.volitionprop.com Market Update - Average Resale Home Price
- 19. @volitionproperties www.volitionprop.com Volition Metrics - Downtown municipalities
- 20. @volitionproperties www.volitionprop.com Volition Metrics - Downtown SF Detached
- 22. @volitionproperties www.volitionprop.com Volition Metrics - Uptown municipalities
- 23. @volitionproperties www.volitionprop.com Volition Metrics - Uptown SF Detached
- 26. @volitionproperties www.volitionprop.com Key Themes from the Airbnb hearings ● There are many Airbnb operators who are using secondary suites / third suites in their primary residence ○ Much discussion on the restrictions on these units - basically these need to be legal suites ○ City only has about +2000 legal secondary suites but about +100,000 “illegal” suites ○ City can enforce on legal secondary suites, but those operating illegal suites will be a challenge to manage ○ The city offered no clear explanation of how it intends to stop homeowners from renting illegal secondary suites, only that it doesn’t want to be too explicit about enforcement because that would help people skirt the rules.
- 27. @volitionproperties www.volitionprop.com Key Themes from the Airbnb hearings ● Airbnb operators need the short term rentals to cash flow ○ Many who attended the hearings demonstrated their financial reliance on Airbnb and that regular rentals would be cash flow negative ● The impact of eliminating commercial operators ○ Commercial operators account for approx ⅓ of Airbnb listings ○ City is trying to encourage home sharing. Commercial landlords argue that kicking out commercial operators would actually impact real home sharing ○ Under proposed bylaw, residents can still rent their homes for terms of less than 28 days for up to 180 days a year. Individual rooms could also be rented for 27 nights at a time all year.
- 28. @volitionproperties www.volitionprop.com Key Themes from the Airbnb hearings ● Airbnb and other STR’s cause more noise, garbage and parking issues ○ Traditional hotels it’s costs of doing business but short-term operators make more money because they don’t have to pay to mitigate those issues ○ Toronto staff testified that the city has seen a rise in nuisance complaints related to short-term rentals. ○ Since 2016, the number of short-term rental complaints have tripled with zoning conformity being the number one complaint, followed by noise, property standards and waste ○ Arguments from landlord side were weaker on this issue ■ 99.98% of all Airbnb bookings are incident-free ■ Any street can have the neighbour from hell
- 29. @volitionproperties www.volitionprop.com Key Themes from the Airbnb hearings - Our Opinion ● Not a primary strategy - regulations can change quickly ● Always have multiple exits / strategies ● If regulations come into place - many rentals, or listings hit the market at once ○ Buy opportunity? ○ How to manage your rental through this time?
- 31. @volitionproperties www.volitionprop.com ● Purchased Price: $1.182MM ● Renovation: $500k ○ What did it include? ● ARV: $1.9MM ● Returned equity ~370k ● Top Unit (2nd / 3rd) - $3800 ● Main Unit - $2850 ● Basement - $2200 ● Total Rents - $8850 ● Cashflow Prior to Refi - $3315 ● Cashflow Post Refi - $558 ● ROI: YR1 167%!! Triplex -- Buy, Renovate, Rent, Refi! ● Close to transit - 4 min walk to street car, 11 min walk to subway ● Behind Dufferin Mall - Next Big Proposed Revitalization Projects
- 32. @volitionproperties www.volitionprop.com Buy Renovate SELL! Virtual Tour https://tours.bhtours.ca/429-brock-ave/
- 33. @volitionproperties www.volitionprop.com ● Purchased Price: $1.182MM ● Renovation: $500k ● Top Unit (2nd / 3rd) - $3800 ● Main Unit - $2850 ● Basement - $2200 ● Total Rents - $8850 ● Added laneway, top marketing, offer date ● $200k made in 10 months ● Sold $2.00MM Triplex -- Buy, Renovate, SELL! ● Close to transit ● Approximately ~10% growth from 2018 ● Close to malls ● The Next Big Proposed Revitalization Projects!!
- 35. @volitionproperties www.volitionprop.com ● All calculated here! ● Our secret weapon! ● BOOKMARK IT ON YOUR PHONE/LAPTOP! Volition Investment Calculator
- 36. @volitionproperties www.volitionprop.com The Main Event - The Secret World of Construction Financing!
- 37. @volitionproperties www.volitionprop.com Hugo Dos Reis - Partner - VINE Group ● Hugo Dos Reis is a Partner and Mortgage Agent at VINE Group; the #1 team at Mortgage Alliance Canada in 2017 and 2018. Hugo has been in the finance industry for over ten years, cutting his teeth at some of Canada’s largest banks on Bay Street in Toronto. ● During his time at the bank, he was frequently recognized as a top performer and for the past two years, was named one of the Top 1% of Mortgage Agents in the country. ● Hugo and his team lead the way with investment financing solutions for clients across Canada and provide financing education presentations to thousands of investors on a regular basis through seminars and workshops. ● His signature client-focused approach, value-added advice, and background in financial planning is what has helped Hugo with his success year over year. Hugo’s personal philosophy is to “take care of your clients and they will take care of you”.
- 39. @volitionproperties www.volitionprop.com Sign up for Advisory! ● 60 Minute complimentary Advisory Consultation ● We will help you determine ○ Where you are at ○ Where you want to go ○ Help you build a customized plan to get there ● Sign up with Ed! ● We will reach out to you to schedule a session with our Advisory team
- 40. @volitionproperties www.volitionprop.com What do YOU want to learn about this year?
- 41. @volitionproperties www.volitionprop.com Next Month - Joint Ventures! ● Wednesday, September 18th, 2019 ● Learn how to invest with other people's money! ● Right here at Creeds!
- 43. @volitionproperties www.volitionprop.com Networking Time! ● Please stay, have a drink / food and support a local business ● We will be here until 10pm THANK YOU!!
- 45. @volitionproperties www.volitionprop.com ● Revisiting the Mutli Family BRRR ● Purchased Last Year ● Price: $1.182M ● Reno: $500,000 + $50,000 carry costs ● ARV: $2,007,600.00 ● Expected Rent: $9000 ● Expenses: $1000 ● Mortgage: $6945 ● Cashflow: $854 Real Life: "If you bought this 5 years ago..." now
Hinweis der Redaktion
- Our new venue!! We kept on hearing that people were coming directly from work, and that they wanted some food and drink… Please... patronize the venue. Food & drink. It's a new place, and it's super cool, and it needs our support. They also rent it out for events and stuff. And they want us to #hashtag it and stuff. I think it's Buck-A-Shuck oysters tonight… $1 oysters. And the beer selection is awesome, and I don't know if they have it here, but the sister restaurant Queen & Beaver has amazing hand chopped burgers… so the food here should be good too!
- Ok, Chris Law told us to spend more time on this slide. I actually feel really stupid talking about this stuff… it’s like those stupid billboards or advertisements on a bus shelter from those annoying agents. “#1 in Downtown”... and we never wanted to be THOSE guys. BTW if you look closely, you’ll realize that it’s often their BROKERAGE’s numbers or sales volumes, not their own. What makes us qualified to stand up here before you speaking to you about investing in Real Estate? We could very well be a bunch of hacks, right? Bunch of other awards/qualifications as well. President’s Award, Chairman’s award, Top Producer award, top 1% of all Realtors in Toronto, Featured speaker at International Real Estate Conferences, at other Real Estate conferences/Meetups in Toronto, speaker at REIN. And this is probably the most important thing… we’ve actually DONE it. We have sizable holdings value at $25M and over 50 doors. So we’ve been in the trenches, we’ve been investing long enough to been thru the up-cycles and down-cycles, and so we know how to build resilient portfolios that can stand the test of time.
- Who is Volition: We are a full-service, bespoke Real Estate Investment Firm. NO, we are not a REIT. YES, we are a firm whose mandate is to give you EVERYTHING YOU NEED to be successful in your real estate investing (except the money. We don’t give you the money). Think of us as the guys who… no matter what you’re looking for in the context of real estate investing, we can help. We offer you a bunch of services, and then we have strategic partnerships for the areas that we don’t cover (Financing is the biggest one, but also insurance, lawyers, accountants, home inspectors, etc.). What really differentiates us, however, is our Advisory practice. We get to know you, your life goals, what you’re trying to achieve, where are you at now… and then we co-create a strategy together towards you reaching those goals. That is really the missing piece in the real estate industry. Think about it. You want to invest in real estate. So you call up an agent (your buddy, your aunt, your grandma) and say “I want to buy a condo”. And they say “Great! Let’s go find you a condo!”. We don’t do that. We will take a step back and try to understand your context much more thoroughly, WHY you want to buy a condo, WHAT you’re trying to achieve, WHEN is your timeframe to achieving your goals. Only after understanding that, do we even START to talk about real estate, what to buy, where to buy, etc. and building a customized strategy for you that makes sense given your goals, available capital, existing portfolio, mortgage qualification ability, etc. A common one is “I want maximum cashflow”. Ok, if you want maximum cashflow, then go buy a student rental in butt-fuck nowhere. That will give you maximum cashflow. It will ALSO give you maximum headache. See what I mean? It’s too myopic to focus on such low-level “consumer” level thinking. We don’t operate down here. We operate up HERE. Higher order thinking. -------- We get asked all the time “Are you agents?”. Yes, we are agents, but we are so much more than that. We are not just service providers, we are SOLUTIONS providers. What I mean by that is that we provide EVERYTHING you need under our umbrella in order to for you to successful in your real estate investments.
- Why list with us? Investor advantage! An actual ACTIVE list of investors/buyers. Unlike an agent who claims to have 1000s of emails to their list, adds everyone under the sun even if he doesn’t know them, and actually hits no one. Personally reaching out to 10-20 of our active buyers is a helluva lot better than spamming 1000 emails that no one will read or pay attention to. REIN Investor Database. As senior REIN members, we have access to REIN’s investor MLS. It has the ability to get your property in front of the eyes of investors from not only all over Toronto, not only across Canada, but overseas as well. Exclusive Toronto Investor Realtor for REIN Buyer’s Group…. Being able to showcase your property at REIN meetings in Toronto and across the country, and with our relationships with Keyspire, we can get your property showcased to Keyspire members as well. Our photography and virtual tour services are second to none. There is both an art and a science to it. Knowing what to show, what to leave to the imagination. Using specialized techniques such as filtering and lighting, and close ups of key features, in order to appeal to the demographic that we are targetting, can do leaps and bounds for driving more traffic. So we can get more eyeballs on a listing, drive more showings, and drive more interest, ultimately we will get you a higher price. If you have a tenant, oh man, be prepared to deal with that fallout. Because of our investment experience, we have the expertise and knowhow in dealing with tenant situations, especially with sales. Knowing how to list it properly, how to minimize impact on tenant, N12 and affidvaits to protect you as the seller, setting tenant expectations, can they stay or will they have to move out, etc.? How to get top dollar. Maybe you need staging, maybe you don’t, or maybe you just need to declutter/depersonalize and they we can bring in light staging and work with what’s there. Maybe you need very specific and targetted renos, maybe you don’t. Maybe your target will be a builder or renovator or a developer. We walk you the entire process. Do you live there? Our approach will be different and tailored. Are you planning to sell this and buy and move into a new property? We know how to discuss with your mortgage broker to get you bridge financing, if you’re going to be carrying both properties, and how to line up and get the right closing date for the sale and for the purchase. Do you purchase first or sell first? We have answers. Staging? Our very own can help you there, and even coordinate everything viz a viz design & key targeted reno upgrades as well. And we haven’t even talked about our super Investor ability to decipher data and read trends. We analyze comps better than anyone else, we track pricing better than anyone else, and therefore can more accurately predict your outcome better than anyone else. And with that, combined with the most appropriate listing strategy, will ultimately give you confidence in being able to make your next move (i.e. how much capital you’re going to have for your next place, etc.). And we’ll be able to help you determine your capital gains, based on your tax returns and your building depreciation, etc. And if it’s actually an investment property? There’s no question. You’ll depend on our assistance to build detailed financial reports, knowing what to provide to the potentially interested buyer (lease agreements, tenant acknowledgements), whether or not to provide utility bills. What if we could get you a higher price, but you provide a VTB to the seller (i.e. you make more overall because of a higher selling price AND you make interest just like the bank, but you don’t collect it all at once… and it defers your capital gains taxes). Man, there are just SO MANY STRATEGIES and ways to optimize. All the services you need under one umbrella. The point being, because we are Investor Realtors and because of Volition, we do everything that a regular run of the mill Realtor does…. Just much, much, much better. We are in the top 1% of all Realtors in Toronto (Out of 50,000 agents in Toronto), which puts us in the "Super Agent" category (like Ari Gold from Entourage). Only 500 agents are in our segment. And only about 50 of those Realtors are "Investor Grade" realtors. We know who they are, and they know who we are! Personal Residence. Like it or not, your personal residence will probably be the most expensive purchase you’ll ever make in your life Like it or not, it’s an investment. A really big one. With our investor abilities and background, we can help you look for things that are not only important to you, and check off the things on your needs list, but also ensure that we can coming at it with our investor eye as well. Perhaps there are ways to make your personal residence work for you. Or perhaps we are looking for floorplans that give you the flexibility to easily put in a second unit Or perhaps we can help advise you on how to not JUST make your personal residence a money black hole, but make it work for you as well. House hacking, Maybe we would suggest a 2bdrm and renting out the other room. Is it worth spending extra to get a 2bdrm instead of 1bdrm condo? We have answers for you. Because we know the financials and economics, and we can also read the trends. We also know the trends and know how to analyze them in a meaningful way to be able to answer key questions, like “is this the right time to buy?”, or help provide you with relevant information from related topics such as financing/mortgages (Should I amortize longer or shorter? Should I get variable/fixed? Should I get a HELOC? Should I break my HELOC into two components so I can keep my books straight for the CRA? Should I register a collateral mortgage so I can reduce my legal fees later?) We know which segments are trending up and down, and we know which areas are providing more value. We also have the in house design capabilities to help you identify something that is under-utilized, but where it creates the opportunity for you to get it undervalued and create the value/opportunity thru targetted design & renovations. We have helped clients with very high-end (as well as obviously tenant grade), so we can cover the entire spectrum. We also know the value in using leveraging your personal residence in order to further your investment business. They are often intrinsically linked, and so this provides opportunities for us as Investor Realtors to add additional value in order to help paint the picture of how your Principle Residence Let’s say you were moving out of a house and into somewhere else (like a condo or you were renting or something). Did you know that you can keep your house as your primary residence for up to another 4 years? Florence?? Or… maybe you’re looking for a combination Primary Residence AND investment property (i.e. triplex and you live in one of the units). We can help you analyze various scenarios to see what works best for you.
- Our mandate is enabling YOU and supporting YOU in your real estate journey. Keep this in mind… because I want to ask it again at the end to see if you think that we are (or can be) “the eraser” for you. The team who is blazing the trail before you, removing obstacles for you, helping you move forward.
- http://www.trebhome.com/index.php/market-news/housing-market-charts Sales were down 10.2% month-over-month from 8,585 in July to 7,711 in August, which comes on the heels of a 3.0% decline from July to August. This is typical, as most home-owners contemplating a sale in August would be wise to wait one month for the busy fall market! Year-over-year, sales are up a whopping 13.4% from 6,797 in 2018 to 7,711 this past month. This underscores my feeling about 2019: that sales will be up dramatically by year’s end.
- http://www.trebhome.com/market_news/housing_charts/index.htm New listings were down, month-over-month, at double the rate of July! Down 18.1%, from 14,393 to 11,789, compared to a 9.0% drop last month. Notice how everything looks twice as bleak in August? It’s just a slow month, and as I said, sellers would be wise to wait for September anyhow. Year-over-year, new listings were down 3.0%, from 12,158 in 2018 to 11,789 in August.
- http://www.trebhome.com/market_news/housing_charts/index.htm Average price was down month-over-month yet again, from $806,755 in July to $792,611 in August – a 1.7% drop. The drop from June to July was a much steeper 3.1% by comparison, but this is all typical in the slower summer months. Year-over-year, average price is up 3.6% from $765,252 in August of 2018 to that $792,611 number you see above. Average price was up 3.2%, year-over-year, in July, so with a 3.6% increase in August, we can see the upward momentum. This is all par for the course right now, and personally, I expect to see prices pass $840,000 by the end of October.
- Further zoom out
- Toronto Market Index shared on Volition Drive
- Will this continue? No. At the peak in 2017 the difference in the average price for a detached home and a condo was $700K In June 2019 that difference has shrunk to $450K. Prices getting to close.
- The city says its short-term rental rules are about protecting Toronto’s housing supply and maintaining the stability of its beloved residential neighbourhoods — even the ones located in high rises. Landlords say the rules restrict their property rights and income. The two sides waited a year to put their cases before the province’s Local Planning Appeal Tribunal (LPAT). Its adjudicator Scott Tousaw will decide whether the bylaw — originally supposed to take effect in June 2018 — ever goes into play. It’s not clear when he will deliver a decision but it will be after an Oct. 15 hearing date in which summary arguments will be presented by lawyers representing the city, the landlords, and the Fairbnb coalition — a group comprised of tenant advocates, hotel industry representatives, neighbourhood groups, residents and academics. Here are some of the take-aways from the first eight days of hearings that took place in August and early September after a year’s delay.
- The city says its short-term rental rules are about protecting Toronto’s housing supply and maintaining the stability of its beloved residential neighbourhoods — even the ones located in high rises. Landlords say the rules restrict their property rights and income. The two sides waited a year to put their cases before the province’s Local Planning Appeal Tribunal (LPAT). Its adjudicator Scott Tousaw will decide whether the bylaw — originally supposed to take effect in June 2018 — ever goes into play. It’s not clear when he will deliver a decision but it will be after an Oct. 15 hearing date in which summary arguments will be presented by lawyers representing the city, the landlords, and the Fairbnb coalition — a group comprised of tenant advocates, hotel industry representatives, neighbourhood groups, residents and academics. Here are some of the take-aways from the first eight days of hearings that took place in August and early September after a year’s delay.
- The city says its short-term rental rules are about protecting Toronto’s housing supply and maintaining the stability of its beloved residential neighbourhoods — even the ones located in high rises. Landlords say the rules restrict their property rights and income. The two sides waited a year to put their cases before the province’s Local Planning Appeal Tribunal (LPAT). Its adjudicator Scott Tousaw will decide whether the bylaw — originally supposed to take effect in June 2018 — ever goes into play. It’s not clear when he will deliver a decision but it will be after an Oct. 15 hearing date in which summary arguments will be presented by lawyers representing the city, the landlords, and the Fairbnb coalition — a group comprised of tenant advocates, hotel industry representatives, neighbourhood groups, residents and academics. Here are some of the take-aways from the first eight days of hearings that took place in August and early September after a year’s delay.
- You can go to other meetups, and they’ll speak extensively about “the next deal” or the “hottest neighbourhoods” or “how much money they made on their last flip”. Not that we don’t go thru those things, but we firmly believe that your real estate investments should be rooted in fundamentals MORE than anything else. It will help ensure that you aren’t “chasing the shiny object” and are investing according to the economics of an area, not just because “cashflow looks good” or “it’s cheaper” or “I can get a good deal”. Make sense?
- Deep-dive, real-life, real-time analysis of your mortgage qualification ability As if it was a real consultation, and your application was really being underwritten. (Speaking of which, Vine Group is looking for an in-house underwriter. If you’re super smart and willing to learn, let me know and I’ll pass along his contact).