Playing To Win | Matt and Olanie
Realtor – Gary Hibbert
We got into the real estate rental market many years ago almost by mistake. We wanted to move into a larger home in the area, and this meant the sale of a property we owned. Of course, the house didn’t sell, so we did the rental thing. With no tenant experience, we made our mistakes and ended out selling after a few years. After the sale, we were amazed at the profit we made with all our inexperience.
Since we could somehow come out on top after that one, we brushed it under rug and continued on. Lucky for us, we bumped into SHC with a great rent-to-own deal on the table, and while we were at it, picked up another Bowmanville property as well. With the experience we gained from our failures, there was no stopping us.
Fast-forward to today… We’re pulling equity to build on our portfolio, Olanie picked up her mortgage agent license, and we’ve done some RTO wholesales. Over the past few months, we’ve been renovating. We’re taking a single family bungalow and converting it into a multi-family unit rental. Not just any multi-family rental, a vertical split! The benefits of splitting a home vertically (front and back) instead of the usual horizontally split upstairs/downstairs homes is of course more cash flow. Now we’ll have two upstairs tenants willing to spend the extra dollar for a main floor.
With our current sale of our Bowmanville town house, we hope to pick up a few more investment properties this year, and as many as we can with joint venture partners. What can we say… We’re hooked!
Matt and Olanie
