Guest: Scott Zandbergen, Real Estate Investor
This week’s podcast guest Scott Zandbergen, Real Estate Investor provides insights and advice on the Buy, Renovate, Rent, Refinance & Repeat (BRRRR) strategy and buying single-family homes and converting them to legal duplexes. He also discusses his reasons for preferring tenants that stay for a shorter amount of time rather than forever and goes through his tenant screening process. He also goes through some backup strategies and the importance of having extra cash reserves. Finally, Scott shares his story of what it was like leaving a safe corporate job at the beginning of COVID.
His main message is to just go for it. If you have a great corporate job and you don’t have any intention of leaving in the next 5 or 10 years, still start and invest in real estate. Find someone to work with or invest passively.
In this episode, you will learn about:
- How long did it take to retire from the job world
- Insights on tenant turnover
- What a typical deal looks like
- Finding tenants and the tenant screening process
- What it was like leaving the job world at the beginning of COVID
Scott Zandbergen lives in Georgetown, Ontario, with his wife and two daughters. He has been working in “corporate Canada” for the last 25 years and recently retired thanks to real estate. He’s been actively working on his side hustle since 2014, having acquired multiple cash-flowing properties for his growing real estate investment portfolio.
Frustrated with his poor-performing investment portfolio of mutual funds and ETFs from his employer contribution RRSPs Scott started his side hustle in real estate. He realized that the only growth was the money being put in every month and nothing was happening from a market perspective. The light bulb went off and Scott decided to educate himself by attending courses and networking groups to diversify into self-managed real estate investing.
Originally interested in Rent-to-Owns but after a few interesting experiences, Scott decided to shift his focus to buying single-family homes and converting them to legal duplexes by adding a secondary suite in the basement. This strategy is a proven method of raising property value in a short period of time while maximizing monthly cash flow.
This episode has been brought to you in part by;
Dalia Barsoum at Streetwise Mortgages https://streetwisemortgages.com/
Joel Wilson & Rob Lee of White Elm Design-Build https://www.whiteelmdesignbuild.com/