The Truth About Real Estate Investing... For Canadians

On to this week’s show! We have one of my oldest real estate investor friends Andy Tran who was among my first clients and home inspectors.   I’ll always remember the first deal we did together, a detached house in Hamilton for $216,000. The house had been sitting for nearly two months before we came along and during our appointment to see the property, I noticed there was something not right.  The owners listed a man and woman’s name but while inspecting in the fridge and closets, I could tell only the father and kids lived in the house.   In speaking with the listing agent to gather information for our offer, the agent informed me the sellers were divorcing and hated each other.  Knowing we had a motivated seller, our offer was a low one and was promptly accepted to our surprise.  Note that we also included our closing costs to be paid for by the sellers.  This was back in 2010 and we’ve both come a long way.   Fast forward to the present, Andy is the market leader in secondary and tertiary suite additions.