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Ontario's Multifamily Market with Georges El Masri
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Georges El Masri is a real estate investor and podcast host based in Ontario with years of experience as a realtor before he got into real estate investing. We’ve invited Georges to the Self Wealth Real Estate podcast today to tell us about his journey from being a realtor to a real estate investor and his decision to focus on multifamily properties.
Listen now to learn more about Georges and his journey in real estate, his best practices as a real estate professional, and what it’s really like to be a multifamily investor in Ontario today!
Key Talking Points of the Episode
00:00 Introduction
01:15 What is Georges’ background?
02:29 How did Georges get into real estate investing?
03:26 What was Georges’ first rental property?
07:55 Why is it such a challenge to deal with fleas on a property?
09:46 How did Georges acquire an apartment building in a high-interest-rate market?
11:08 What is Georges’ strategy for the apartment building he recently acquired?
15:54 What are the utilities like in Georges’ apartment building? 21:31 What are the challenges with financing in the multifamily space today?
25:47 Where do we think inflation rates are heading in the coming months?
30:01 What projects is Georges currently working on?
34:52 How can you handle tenants who back out after agreeing to cash-for-keys?
39:56 What is Georges planning to do with his duplex?
45:47 What is Georges’ favorite deal like?
48:37 What lessons did Georges learn from his favorite deal?
50:56 How did Georges start working with real estate investors?
54:30 What is next for Georges?
55:38 What has changed in Georges’ approach to real estate?
56:25 What is Georges’ advice to his younger self?
57:00 What is the most overlooked or overhyped investing strategy today?
58:24 How can you get in touch with Georges?
Quotables
“It seems that demands are superficially low because demands are high and this is what I’m unsure about – if rates do come down by the end of 2024, we’re in the 5% range for prime, is that gonna create a frenzy in real estate?” “From my understanding as well, once the order is filed, the tenant has a certain period of time to file a motion if they want to oppose it. If they don’t, then I assume that the eviction will be enforced.”
“It’s not a very good deal to get a 1-year term if you’re assuming tenants, because this whole process of dealing with tenants, negotiating with them, and getting them out – it’s not easy.”
Links
Website: Well Off Podcast
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