In E278B, I share updates on my projects, including the success of my book “Real Estate Titans,” the upcoming Audible version, the Bank of Canada’s rate cut, changes to the CMHC MLI Select program, a $1.5 million raise for Tobermory hospitality, and significant progress in our Florida off-market acquisitions with Matt Piche, despite some challenges.
First, a big thank you to everyone who bought my book, “Real Estate Titans.” We hit bestseller in both digital and paperback! I’m also working on narrating the Audible version myself, which should be ready in a couple of months.
Now, some big news: the Bank of Canada announced a quarter-point interest rate cut. This could boost real estate investing sentiment and increase buying activity, but we have to watch what the US does too, as our rates can’t drop too far without risking inflation.
The CMHC MLI Select program has updated its rules. Restrictions on refinancing multi-family buildings are gone, and new requirements for energy efficiency, affordability, or accessibility are in place. Investors are busy adjusting to these changes.
On my end, we’re finalizing a $1.5 million raise for our Tobermory hospitality business to add amenities like a pool and sauna at our Grotto Getaway glamping site. The aim is to extend guest stays and boost revenue.
In Florida, Mat Piche and I are full steam ahead with off-market acquisitions, spending $15,000 monthly on lead generation. We got 90 leads last week and have multiple offers in play. Despite some challenges, we’re seeing great progress, including a new team member securing a $180,000 profit deal in her first week.
Order your copy of Real Estate Titans : Tools, Tactics & Wisdom for Canadian Real Estate Wealth today: https://www.amazon.ca/Real-Estate-Titans-Tactics-Canadian-ebook/dp/B0CZZZWP3Z/
Sponsors:
Build Your Portfolio Of Hassle-Free U.S. Real Estate (SHARE Partnership): http://bit.ly/sharesfr
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