010 The Five Year Plan - What it takes to become a Real Estate Investor, Training Courses, Apartment Buildings and Basement Suites

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units. While I continue to add doors to my portfolio (I added another 85 in 2018 alone and have another 87 under contract to close shortly), my focus is on training others to do what I have done.

I am a real estate investment coach. Multiple Ways to Wealth is a training, education and membership organization for real estate investors that I have developed. It is based on my experience, knowledge and training.

I provide training, coaching and educational resources. Through my programs, I share my real-life experience and practical knowledge. I give those in my programs access to my network of successful real estate investors to learn from their knowledge and experience.

My specialty is finding the money. I know how to find, attract and keep investors happy. I help my students attract the right investors so they can add hundreds of doors to their portfolios by investing with joint venture partners.

Living the life you desire takes work. I am a firm believer that with the right mindset and the best training we can solve our biggest problems to live the life we deserve.

https://ednakeep.com/

Transcription:

Edna

Hey, hey. It's Edna Keep here. Welcome to the seven figure real estate podcast. I'm your host. I hope you enjoy the episode.

Good evening. Edna Keep here and I just want to have a little chat with you about some stuff that's going on in our world. So, we are doing a big launch into our ninety day to five k program. This is a program that I have sold for five thousand dollars all throughout the year. I have had several students graduate and I have got nothing but great feedback from it. People are very very happy with what they've learned. I’ve got feedback throughout the course to see if there is anything that I needed to change or add and as I get that feedback I add stuff in because I want to make sure that I cover off the terminology and make it easy for people that understand. So, it is constantly changing. But this month the December 2016 we have decided to do something we've never done before and that is to offer our course at a greatly reduced price. Now for you to find out that price I do need you to attend my webinar because it is beyond valuable. To register for the webinar, it's just www.the5yearplan.ca and that webinar is going to show you what it takes to become a real estate investor and earn some really good money. The whole premise of the program is that when you're done it in ninety days you will know exactly what it takes for you to be earning five thousand a month in passive income and in three to five years, not in a lifetime. So, if that's something that interests you get on the master class. We did one this afternoon at one o'clock, we had quite a few people on and a lot of interest in in the program.

The reason that we've decided to launch it this month and give such a great price on it is I very strongly believe that now is the time to be moving forward with your real estate investing. We are seeing some really great prices and we're seeing some really good things happening in our economy. And when I say our economy I'm talking about Western Canada. We think that in the next eighteen months we buy now that we're going to see some really sweet growth in there. So, of course, you can't guarantee any of that, but we are seeing some reduced prices. And the other thing that's happening is the whole mortgage rules have changed. So, a lot of homeowners or people who thought they were going to be first time homeowners that may be delayed. So what that means to us as real estate investors is we're going to have more and more renters staying in the market, less homes being bought in that price range and I think a lot of homes that are going to be bought by first time home buyers are going to have to have a basement suite in them to help them with the mortgage because that is one of the rules set change to is now the lender and not all of them. So, check with your lender check with your mortgage broker if that's what you're looking for, but they will let you use up to one hundred percent of whatever you're collecting for rent from your basement suite or if you want to you could be the one that lives downstairs and rent the upstairs. We've seen people do that too. Now apparently with a brand new home, they're just going to give market rent. So, if market rents for a basement suite are eight hundred that's what they're going to give you. If they're a thousand and I'm not sure what it is on new homes right now but check with your mortgage broker. They do an appraisal and they ask for that. They say what's the market rents. And they'll figure that out for you. Now with a house that has a non-regulation suite, we just had our mortgage broker present to us last night at our Profit in the Prairies meeting and she said that they will allow but it's case by case basis.

And if you're the homeowner and you choose to live downstairs in the non-regulation suite that's your choice it's your home and you'll get credit for the upstairs rent. Now the lease has to be placed for two years though so know that. There are some rules involved and I'm not a mortgage broker, so I don't a hundred percent know the rules. I'm just going by what we were told last night so check with your mortgage broker if that's something that you're looking at. Another thing that I see going forward that is going to be great for real estate entrepreneurs is we're going to see more and more opportunities for rent to own with these people because you know what they'll have the deposit maybe their debt coverage ratio is a little bit high so they can’t qualify but they know they're going to be getting some good raises in the future. And there's lots of jobs for they tell you ahead of time what you're going to get for raises but we can get people into a rent to own and help them become homeowners. And it's a great strategy to use in a market like this. So, keep that in mind too.

If you know of anyone that's interested in becoming a real estate investor or real estate entrepreneur have them reach out to me because like I said we're offering ninety day to five key program at a greatly reduced price through the month of December. And I did have some trepidation I should say about doing that because we've offered it for five thousand we've had lots people go through the program, we've had great feedback and one of the reasons why I've kept my price pretty high is I believe that if people put a good chunk of money in the game they will show up, they will take the training and it's only if you actually take the training and participate that you're going to do well with it. If you buy it and never watch it or never show up or never do your homework you're not going to do well it doesn't work like that. It's not education by osmosis it's sitting on my shelf I'm absorbing it. No, it doesn't work like that. There are five to ten hours of homework each and every week and it's intense. I've had people that fall behind and catch up and the one nice thing about the program is once you've joined you have lifetime access to it. So, if you do fall behind because life gets in the way. Just know that you can start it up again. And I do offer it three times last year I think we might move that up to four or five this coming year. The next one starts on December 6th. All our webinar based training between an hour and an hour and a half and then on top of that like I said there's going to be homework of between five and ten hours and why I have the difference between five and ten hours is you know what if you're someone who has some real estate properties already you understand a lot about it you may have a little bit less homework than the person who's brand new and doesn't have any real estate at all.

So, somebody who has more experience, homework might be a little bit less or it might even be a little bit more because sometimes people are just trained in a different way or they've just kind of rolled by the seat of their pants and figured it out on their own. And we just do things a little bit differently. So again, one of the things that I teach, and I think a lot of people don't know is I'm not into the fits and flip at all. Not that we haven't done it. We have but I just think that that's another job and I'm not interested in another job and neither my husband nor I are very handy. So, it doesn't do for us to do fits and flips we'd have to totally hire it out and we really just don't want to do that. We like long term buying holds and we like to buy apartment buildings for that. That's our business premise. We like to buy apartment buildings that are undervalued maybe under rented need better management and maybe just haven't been run properly or haven't got the rents up where they need to be or higher than normal vacancy things like that.

That's the kind of apartment building that we'd like to buy and then we like to increase the value. And one of the things with apartment buildings that's different from houses is when you increase the value by increasing the rent decreasing vacancy getting more income into the property less expenses the value of your property goes up. And a lot of people don't realize it's different that way with your house. It wouldn't matter if you had a house where it was worth three hundred thousand and it would matter if you were earning twenty-five hundred a month on it or fifteen. The value is the same because they judge houses different. Houses are by whatever the market value is it's not run like a business which is also another reason why we have trouble getting financing with houses sometimes or why you're limited with houses. With apartment buildings, the lenders look at it as a business, so they look to see if the profit, what the profit is if the profits can carry the mortgage and even through a down market because they know that that happens. So, it just is mortgaged a little bit different. We actually find that apartment buildings are easier to finance than houses. We rent fifteen houses now, so we can't get any more.

We also find that are investors like apartment buildings better too. And again, it's back to the fact that it's a business, not just a rental property it's treated like a business. So, if that interests you learning how to create your wealth through apartment buildings reach out to me or join our webinar tonight we're actually putting it on here a day early.

Usually, I use my Facebook lives Friday morning at ten. I call them my free coaching Fridays. So, if you have any questions hop on tomorrow and ask away. And I'm not going to talk real long tonight. I just want to be able to let people know that at eight o'clock tonight CST. So, in what an hour and twenty minutes we're going to be doing a live webinar and I invite you to join us again go to www.the5yearplan.ca and if you're at all interested in a five year retirement plan as opposed to the traditional forty year plan I invite you to join us. Like I mentioned earlier decided to put my program on sale. I really want to make a difference and in a lot more people's lives, and my marketing team actually came up with the idea not me and they suggested that we try and so I said OK I'll try it for one month and we'll see how it goes. Because one of my one of my challenges with offering it at that price is I'm scared people won’t be committed to it.

It's not near as expensive as it usually is, and you know people pay five thousand dollars. It's very seldom that they don't show up for every class and even if they miss one they're looking for the recording. Where's the recording? I need to see the record and get my homework done because it builds on each other from week one to week twelve. You have to do them in order because each and everyone builds on the next one. And that's what you need to do in order to get your business in a place where you can attract investors, look after those investors so that they stay with you again and again or invest with you again and again and systematized your business so you're not building it all over again every time. Once you have it built and you have your systems in place you're finding deals are coming to you and we show you how to do that in the program as to how to find deals and how to get deals coming to you because that happens to us all the time now we get some of the best deals handed to us out there because we're known as people that buy. I actually had somebody call me today and they said something about selling real estate and I said: “Oh no I don't sell real estate I'm not a realtor I just buy real estate.” So, there is a big difference there.

Again, if you want to learn more about that. The other one that Chandelle just told me to put the5yearplan.ca is to join the live class tonight at eight o’clock and 90daysto5k.ca is if you want to read more about the course ahead of time. It's a twelve week course. We start out with your vision, where do you see yourself in five years, what would you like your life to look like. Then we move on to the gap where you are versus where you want to be and then we figure out what you need to do to get there and then we help you build that we help you build your own presentation. We believe that everybody has a story to tell and everybody's story is different, and we want your personal story to be in your personal presentation. We don't believe in hour long presentations the best kind of presentation you can give to an investor is fifteen minutes and there were there will be some that will ask for more information then that's fine you can give it to them, but the majority of people will know if they're more interested in fifteen minutes if they want to know more. So, keep your presentation to fifteen minutes and you'll probably have a lot more interested people.

I also talk about some of the things to avoid when you're talking to potential investors and some of the things that people just need to know when it comes to real estate because the biggest thing in real estate is you've never done anything with it before is you don't even know what you don't know. I know when we started I was a financial advisor for twenty years and I didn't think of real estate as an investment. I just didn't even think of it that way. I've never researched it. I've never had anyone approach me about it until a client come in one day and said that she was thinking of getting into a real estate and all I can think of is really you want to get into something that grows like three percent a year. Those kind of numbers are very exciting to me and I didn't have any idea. I never took into consideration mortgage pay down or the fact that that three percent a year if you leverage your property and put twenty-five percent down. Well if your property goes three percent you actually earn twelve percent on your money. Does that make sense? Because you only put twenty-five percent down on a property. So, here's an example; you buy a four hundred thousand dollar property in a year it's up three percent. So, I used to think four hundred thousand times three percent that's how much I earn but not very much. But, what it is the money you put in. So, if you put in one hundred thousand or twenty-five percent and your property grew three percent that hundred thousand grew twelve percent. Does that make sense? So, we’re going to talk about that a little bit more.

We're going to talk about an average deal a good deal or worst case scenario deal and how they can all work. You know that even most four deals have been average deals they have hit home runs. We've been buying apartment building since 2008 and really the price of them doesn't go down. We don't get much of a bargain. We get a bit of a bargain on some of them and we're finding some of our best bargains right now but they're not down to where the prices were three years ago. They're still higher. So just so you know and we're still buying because you know what we believe the value of them is going up where we're paying anywhere from ninety-five to one hundred twenty-five a door one hundred and twenty-seven even on a brand new building that we just bought and it's worth it. The cash flows there the numbers are there and if the numbers aren't there just, yet we know that once the market turns around the numbers are going to be there and in the meantime, we've got our mortgage pay down which really adds up to a lot.

So again, tonight eight o'clock. That's a little over an hour and I'll see on there you're going to learn a lot. Come bring notes. Tell a friend and let them know that it's Edna’s gone a little crazy and she's going to offer programs for less than half price quite a bit less than half price. You'll want to get on it because I don't believe I will keep this price other than for the month of December. Our next class starts on December 6. If that doesn't work for you the class after that starts January 10th. But it does have to be paid for this month in order to get in on the program. So, if that interests you please come on to the class tonight you're going to learn a lot, invite a friend, neighbor, wife whoever you want, invite them over for coffee or just send them the link. They're going to thank you someday if they've got any interest at all. They may not decide to do this themselves but maybe they'll be your next best investor. I know we've had people go through the program and say, “You know what I love what I do already that to me sounds like too much work, but I love what you're doing something to invest in you” and somebody that you invite might be that person for you. So, reach out like I said tonight to register for the class that starts at eight o’clock central. It's www.the5yearplan.ca. So, I'd love to see you there. Talk soon. Bye.

Thank you so much for listening. It's my sincere intention that you got value from this episode. If you're interested in learning more about building your passive income through real estate either by investing with us as a joint venture partner or as a student discovering how you can attract investors to your deals and build your seven-figure real estate portfolio by helping others build their passive income. Check out my website Ednakeep.com or watch my free master class Ednakeep.com/90daysto5k.