Guest: Paula MacFarlane & Jake Tayler @tartandevelopments, Real Estate Investors & Developers
Listen to the full episode at http://bit.ly/WSIILatest
This week’s podcast guests are Paula MacFarlane & Jake Tayler – Real Estate Investors & Developers.
Paula and Jake were both paramedics and they wanted out! Paula quit her full-time job in 2019 and Jake more recently in 2021. They were able to replace their incomes with the active income earned by flips, land severance, and new build projects. They focus on the London, Strathroy, and Stratford, Ontario markets. They’ve often found that simply severing a lot is sometimes better than building a new house. Their biggest tips are to hire a planner, a project manager and choose the best of trades! Also, if you’re hoping to invest in land and flips, you will need relationship-based financing to acquire development projects. You need private funds and plan accordingly. Lending institutions do not lend on this type of project at the beginning. Raising capital and creative financing is a must! There are huge opportunities to create your own deal rather than getting into bidding wars and doing the same as everyone else. Their new focus is on doing fewer projects that are more profitable. They’re focusing on the best ROI for their time!
In this episode, you will learn about:
- Land severance basics
- Fees and timeline for land severance
- Development strategies
- How to plan to quit your job
- Having the right team in place
- Active vs. passive income
- How to finance land and development deals
Get in touch with Paula & Jake:
This episode has been brought to you in part by;
Dalia Barsoum at Streetwise Mortgages – https://streetwisemortgages.com/