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Building Multifamily Investments in Today's Market with Jonathan Wallace
Manage episode 422377176 series 3527885
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Jonathan Wallace is a realtor and real estate investor in Ontario with years of experience investing in his own portfolio and listing properties for us alongside other investors in the area. We have invited him on the Self Wealth Real Estate podcast to talk about his experience as a realtor and investor, the opportunities he is seeing in the market, and so much more.
Listen now to hear market insights from a seasoned real estate professional so you know what opportunities to look for and how to navigate markets like we have today!
Key Talking Points of the Episode
00:00 Introduction
01:29 What is Jonathan’s background?
04:50 What should people know about investing in mobile homes?
09:01 What kind of deals does Jonathan specialize in?
11:10 How did Jonathan get into real estate investing?
15:07 What does the market look like today for buyers?
17:26 What challenges is Jonathan seeing in building and flipping properties today?
24:16 Why is it more practical to build multifamily properties in today’s market?
25:36 What kind of investments is Jonathan focused on today?
31:00 What is Jonathan’s advice for investors looking for off-market deals?
36:44 What opportunities is Jonathan seeing in today’s market?
39:53 What was Jonathan’s best deal like?
42:49 What lessons did Jonathan learn from his best deal?
51:54 What is the best way to manage contractors on site?
57:21 What are the biggest mistakes investors are making on their projects today?
01:00:40 What has changed with Jonathan’s approach to real estate?
01:01:12 What is Jonathan’s advice for his younger self?
01:07:06 What is the most overlooked or overhyped investing strategy today?
01:10:01 How can you get in touch with Jonathan?
Quotables
“I feel like the properties that weren’t selling were the ones that were a bit rough around the edges, but sellers were more motivated to move the product so it opened opportunities.”
“Don’t be afraid to make those phone calls to movers and shakers of the market and say “what do you have that no one else knows about?” because that’s where some of the fruit lies.”
“As an investor, start hunting. The deals don’t just typically land on your desk and it’s the home run, slam dunk deal if you don’t go looking for it, if you’re not purposeful in your conversations to say “here’s what I’m looking for”.”
Links
Website: Bliss
Instagram: Jonathan Wallace
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