We have my old friend Ming Lim of Volition Properties, Toronto Realtor and investor extraordinaire and the name volition is about living your life on your own volition thanks to financial peace from a great real estate portfolio. The nice thing about investing in Toronto is one can’t really beat the number of high quality tenants to choose from.
In my experience, the ideal tenant is gainfully employed and optimistic about the future as their credit history is valuable to them as they want to be able to get car loans and mortgages hence they can both afford the rent AND be motivated to be a quality tenant.
But Toronto is a top two least affordable city in Canada and one of the least affordable in the world so unless you have deep pockets for negative cash flow condos, you’re going to have to adopt an investment model of intensification and densification and that’s exactly why we have Ming Lim on as today’s guest.
Ming and I go back over ten years, he’s an engineer by training so he’s a bright guy, he doesn’t hide truths hence Ming share’s how some Toronto investors are faring holding pre-condo construction condos, very sad stuff. On the positive, Ming shares how CMHC’s MLI select program (read cheap, 50 year amortization financing) can be used to optimally invest and develop into multifamily properties in and around downtown Toronto.
For all you Toronto investors, you’ve asked “when will Erwin be downtown to meetup?” well Ming has invited me to speak at his meetup.
https://www.meetup.com/volition/events/297931009/
Tuesday, May 28, 6:00-9:00 pm
The Kingston House
(676 Kingston Rd, Toronto), google maps: https://maps.app.goo.gl/VKQLkSEc5cVxoa9j8
4.6/5 Google reviews
I’ll be sharing my journey of being a landlord in Ontario for the last 20 years and how I’ve started selling properties here to diversify to the landlord friendly areas of the USA. I’ve just returned from Savannah, GA, I’m in the middle of creating my corporate structure in the States to be prepared to start writing offers in the USA this month and I can not wait!
I hope to see you there and please enjoy the show!
Ming’s Volition on Instagram: https://www.instagram.com/volitionproperties/
Meetup: https://www.meetup.com/Volition/
Advisory call: https://cal.com/volition-matt/30advisory?month=2024-03
