"The tax game is a deferal game" - Charn Hansra

This month on the What You Should Know About Real Estate Investing Podcast we're speaking with Real Estate Investor focused accountant Charn Hansra.

As a chartered accountant in Mississauga, Charn Hansra's accounting firm, Clearhouse LLP, offers the highest level of expertise and experience to guide their clients through all financial aspects of their business, including tax accounting, in a straightforward manner. 

Charn's strength is in being committed and enthusiastic about the success of his client's businesses, and he takes pride in recognizing that most of their growth comes via recommendations from satisfied clients who are happy to share one of the keys to their success with friends and associates.

In our conversation with Charn we focus on taxes, corporate structure, and general best practices for real estate investors, including:

• Charn's  real estate investing origin story
• How Charn sees his role as an accountant for his clients
• When is it time for real estate investors to consider restructuring?
• How to get a mortgage through your investing corporation
• How investors can get paid through a real estate holding corporation
• Risks and rewards analysis of holding real estate personally versus in a holding corporation
• Differences around refinances for properties held personal compared to properties held in a holding corporation
• Tax differences between active real estate companies and real estate holding companies
• Ways to reduce your effective tax obligations in a holding corporation including expense capturing, CCA, and taking dividends
• How taking a dividend from your holding corporation affects the amount of tax the holding corporation pays
• The reason why an investor may want to have a holding corporation
• Why you should have life insurance!
• Should you have a  separate corporation for each apartment building you own?
• The differences between a holding corporation, real estate corporation, and operating corporation
• Section 85 Rollover
• When to use a JV structure and when to use a GP / LP structure

Amazing information from Charn on this episode, a huge thank you to him for joining us on the show!

Want to connect with Charn or find out more about his Accounting Services? Find him online at:

https://charnhansra.ca/

Got questions about the show?

Want to be a guest or know someone who would be a good fit for the show?

Got Real Estate Investing questions?

Contact us via e-mail to: wyskare@gmail.com 

Or send us a message  via our What You Should Know About Real Estate Investing Podcast Facebook Page

Thank you for listening!

- Ben, Trevor, and Nick

Are you looking to buy an apartment building?

Have you tried and realized it's not at all like buying a house?

What's involved, what's the mortgage like, how do you underwrite a property?

There are many questions investors playing (or looking to start playing) in this sandbox have. Luckily for our listeners, Tony Maruna of the Vine Group has joined us for an in-depth conversation on how to finance and underwrite the purchase of multi-unit residential properties.

Tony has enjoyed a 23-year banking career within Southwestern Ontario. Throughout his career Tony has excelled in commercial lending and corporate banking. More recently, he has focused on Commercial Real Estate in Kitchener/Waterloo, creating a leading reputation in the marketplace.

Through his behaviours, unparalleled customer service, and disciplined execution, Tony has consistently exceeded his targets by double digit year-over-year growth, achieving the #1 national ranking at his former bank in the past 3 years.

Tony looks forward to continuing to build on this momentum through his role as Director of Commercial Lending with Vine Group’s growing Commercial Team.

In our conversation, Tony shares his experience and knowledge in the area of commercial financing with a focus on multi-unit residential properties. Topics include:

• Understanding how different lenders determine risk level for different types of properties
• What lenders are looking at when underwriting a property to lend on
• What "recourse" means to a lender
• How YOU as the borrower play a role in a lender's due diligence in terms of your experience, track record, net worth, and requested amount to borrow
• Strategies for how investors can approach commercial financing and get to YES
• Important questions to get answers to before investing in multi-unit residential apartments
• Tips investors can use to do their own underwriting
• What a CMHC mortgage is and the pros of cons of them for multi-unit residential
• True of False Tony: It's easier to qualify for a loan on an apartment building over a single-family home?
• Why Tony got started in real estate investing, and why you should too!
• Final advice for the investor community in uncertain times

Big thank you to Tony for joining us on the show!

If you'd like to learn more about Tony or have further questions about commercial financing, you can connect with him in the following ways:

Phone: 519-497-0889

E-mail: tony.maruna@vinegroup.ca

For more information about the Vine Group visit:

https://www.vinegroup.ca/

Got questions about the show?

Want to be a guest or know someone who would be a good fit to join us for a conversation?

Got Real Estate Investing questions?

Contact us via e-mail to: wyskare@gmail.com 

Thank you for listening!

- Ben, Trevor, and Nick

“I don’t know many successful people who have had a lot of success without having a lot of challenges” – Ricky Mendez

In this edition of What You Should Know About Real Estate Investing, we're speaking with Ricky Mendez on  how to develop a mindset for success.

Ricky is an implementational speaker that creates lasting change, increases revenue and helps leaders achieve a higher quality of life.

Ricky has been President, VP of sales, and COO of companies spanning Southern California over the last 10 years. These companies have implemented Ricky's Mindset, Prosperity Planning, and sales programs in order to build a culture and foundation that can support explosive growth. With the help and dedication of these teams, Ricky has overseen operations in excess of a half-billion dollars in southern California, and has appointed key personnel to implement the mindset and sales programs.

Ricky has had working relationships with national brands such as Home Depot, Costco, American Residential Services, and he has spoken at national conferences to share his ideas and best sales practices.

In our conversation with Ricky we get to know how he got started in business before diving into the actionable ways you can develop a mindset for success. Talking points include:

• Reframing your perspective around situations and circumstances to see what you have, as opposed to what’s happening to you
• Understanding how the biochemistry of thoughts impact your life, and how to use this to your advantage
• Practicing converting negatives into positives
• Why self-development is so important for real estate investors
• Why mindset comes first, and business comes second, in entrepreneurship
• Mindset tips and shifts for investing in a hot market
• Why creation should come before consumption
• Ricky’s take on the difference between success and fulfillment
• Ricky’s morning routine, including the gratitude poem
• The reverse engineering approach to breaking down bigger goals
• The 3 words every person starting a business should live by
• Identifying if you’re “too busy” or just unstructured
• “Liquid Gold!”

Big thank you to Ricky for joining us on the show!

If you'd like to learn more about Ricky you can connect with him via e-mail, instagram, or phone through the following:

ricky@rickymendez.com

@rickymendezspeaks

Business Phone: 978-886-0043

Got questions about the show?

Want to be a guest or know someone who would be a good fit to come on the show?

Got Real Estate Investing questions?

Contact us via e-mail to: wyskare@gmail.com

Thank you for listening!

Ben, Trevor, and Nick

So you are thinking of adding a legal suite, secondary unit or a granny flat to your existing property but where do you start? Follow along as BCIN designer Gerard O'Rourke walks us through the process.

Why is an investor focused accountant important? What is capital cost allowance? How do you use depreciation? To incorporate or not to incorporate? Ali Raza Jaffer explains. Reach out to Ali at ajaffer@arjcpa.ca

Adriana Ostapanko from Master Homes Contracting walks us through her multi-unit investing strategy in Southern Ontario and shares some pro investor tips.  Topics discussed include finding properties, crunching numbers, appraisals, private mortgages, negotiating the right price and running renovations.

Email Master Homes Contracting at dri_canada@hotmail.com

Email What You Should Know About Real Estate Investing at wyskare@gmail.com

What's the deal with mortgage brokers? Why should you use one? Leanne Myles from Clinton Wilkens Mortgage Team explains.

You can reach Leanne Myles at: leanne@teamclinton.ca

You can reach us at: wyskare@gmail.com

Darren Jacklin walks us through the process of raising capital with integrity.

Contact Darren at www.darrenjacklin.com

Donate to www.ugandachildren.com and www.ly2nk.org

Email What You Should KNow About Real Estate Investing Podcast: wyskare@gmail.com