I rarely have guests on the show to talk about real estate, especially real estate investing, since there are so many sharks out there trying to sell some get-rich-quick scheme or there are just so many other real estate-specific podcasts already out there. But when I had the chance to meet Daniel Foch and Nick Hill at an event recently, I knew I had to have them both on the show to fill us all in on what’s going on with the Canadian real estate market.
Not only do they host The Canadian Real Estate Investor Podcast, but they also have years of experience working in real estate in a variety of roles as well. They also have personal experience with homeownership and real estate investing too. We go through a lot in this episode, so if you’re thinking “Is this a good time to buy a home or sell my property?” you’re gonna want to listen to this.
Takeaways
- The podcast started in 2022, but the hosts have a long history in real estate.
- Real estate is a topic of constant concern for many, especially in uncertain times.
- Building a community around real estate education has been a key focus for the hosts.
- Coaching programs emerged from audience demand for more in-depth real estate knowledge.
- The real estate market is qualitative and requires a personalized approach to investing.
- Many first-time investors jump into real estate without proper analysis of their needs.
- The condo market is currently facing challenges, particularly in major cities like Toronto.
- Long-distance investing can be a viable strategy for many investors.
- Understanding the risks associated with tenants is crucial for property owners.
- It’s essential to have a solid property management plan in place to ensure investment success. Do your due diligence on tenants to ensure a good fit.
- Never rush to fill a rental unit; take your time to find the right tenant.
- Real estate investing is a business, not just a source of passive income.
- Incorporating a business can help with organization but may not provide tax benefits.
- Evaluate properties using metrics like cap rates to compare investments effectively.
- Look for market opportunities based on demographic and economic trends.
- Renting can provide flexibility and capital allocation advantages over homeownership.
- Women statistically own more real estate than men, indicating a shift in the market.
- Seek mentorship and community support when starting in real estate investing.
- Understand the costs associated with buying and selling real estate to make informed decisions.
Things I Mentioned in the Episode
- I’m giving away copies of all the books featured in this season of the podcast! To enter, visit jessicamoorhouse.com/contests
- My free resource library, where you can find budget spreadsheets & more!
- Apply to enroll in my investing course Wealth Building Blueprint for Canadians
- Check out my shop!
Follow Daniel Foch & Nick Hill
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