Gary chats with good friend Georges El Masri! Georges is a fellow investor with numerous properties (12 doors), a real estate agent and podcaster with the Well Off podcast! Georges primarily works in the west end of the GTA. Gary was previously a guest on Georges' podcast, and he has an incredible story. Georges' parents had to flee from Lebanon due to civil war in 1989, and they moved to Toronto to start over. Georges learned from his father about being an entrepreneur. Gary and Georges touched on the market, what Georges is personally seeing in freehold properties, condos, etc. They also discussed digital currencies, why it’s important to learn from the past, as history doesn’t necessarily repeat but leaves clues and rhymes.
What you'll learn:
How he got 12 doors in 3 years! He felt it was a slow growth, but he has 12 in 3 years, which is incredible! Why it’s important as an investor to use an agent that is more than familiar with an area, but invests there themselves! Why his dad hated his job, and how that affected Georges Why his own dislike of jobs after university pushed him into real estate - he felt he couldn’t grow and was ‘stuck’ Depression is like ‘not growing’ for George, when he feels he’s repeating himself Anxiety is worrying about future ‘problems’ Georges' 4 year journey from getting his license to buying his first investment property Why his broker’s unexpected request for an additional 10% on his deposit changed everything, and forced him to buy this first property How raising capital plays into his aggressive expansion plans How some investors don’t put their own capital in to JVs (joint ventures), their partners qualify for the mortgage yet they own it 50/50 Why he property manages all new investments for 2 years, then offloads them to a property manager Why 4-6 unit buildings are his next strategy Why some banks treat multi units as residential and NOT commercial How commercial mortgages can allow more money to be borrowed Off market opportunities are on his radar as well The mistakes that investors make in multi family units - fire code inspections; bed bug infestations, etc Why Georges still uses a coach, who has also helped him avoid pricey real estate mistakes Why condo rents are dropping as well as their values Will rates stay low and will stimulus money continue? And MORE! Georges' Bio
Born in Canada after my parents fled the civil war in Lebanon. They sacrificed their home to give their children a better life. I grew up with an inherited survival and partly scarce mindset. With that said, I was also gifted an entrepreneurial spirit and a hunger for a better life. I strive for financial freedom through real estate investing.
Website/contact info for guest
Web: welloff.ca welloffpodcast.ca
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