BROADCASTS.com

b'

Gary chats with friend and fellow investor Sarah Larbi. They\\u2019ve done several podcasts and webinars together, they touched on market predictions, but the focus of this episode is cottage properties. Sarah bought a short term rental cottage, sight unseen and has done well renting it out, but she provides some indispensable information on purchasing a cottage, whether it\\u2019s to create income or provide a place of rest and regeneration. She spoke of due diligence, ensuring the property is suited to your needs and avoiding issues later. Sarah also managed to purchase 9 properties by age 33!

What you\'ll learn:

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Gary provides a current market update - what does rolling back to a modified Stage 2 mean to investors, and the markets?

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Why Sarah, in a former life as a financial planner, determined that investing in mutual funds, etc. because the commissions took all the profit

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 The banks want you to buy their mutual funds because of commissions and fees, and don\\u2019t have your best interests at heart

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Sarah rents her cottage during July and August for $550 per night for 4 bedrooms, 7 night minimum. If it\\u2019s rented every night of a month it will be $16,500 for the month! You\\u2019ll make your money back buying a recreational cottage in Ontario

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Long weekends can make even more

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 You can get bookings in May, June and September at $350-$400 per night

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Long weekends or March break will be shorter rentals

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Why \\u2018your network is your net worth\\u2019

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Why a 3 season vs. a 4 season have differing down payment amounts!

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Proximity to a town for supplies

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Proximity to a larger city for renters

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 The more bedrooms the better

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 If you have 4+ you can rent to two couples

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Cell coverage and internet is HUGE

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Ensure you have the correct number of supplies to match potential renters (10 guests max, 10 glasses, etc)

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 How private is the cottage and property

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Does the value of the cottage and property increase on open lakes vs. closed lakes?

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Deeded land vs. leased land, and why appreciation may be slower

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Leased land and rules of use

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Septic systems vs holding tanks

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Drilled wells and dug wells

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Do you manage the property yourself, or hire out?

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Cleaning and prepping for visits, groundskeeping

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Security cameras for safety and security - being able to unlock the door, arm the security system and adjust the heat

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Why Air BnB is the tool Sarah uses for rentals, and why you may need to qualify differently

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Are you BRRRR-ing, or flipping?

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Why 16 weeks is the magic number for rentals

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 Main road vs. side road and are there maintenance fees

\\xa5\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 And MORE!

Sarah\\u2019s Bio

Sarah Larbi had the drive and focus to embark, build and grow a seven-figure, 10 property investment portfolio by her early 30\\u2019s, all whilst full-time employed. Known as the BRRRR Expert, her results-oriented approach has been featured in numerous Canadian media, on the stage at events like Canadian Real Estate Wealth Investor Forum and as a guest on many North American finance-focused podcasts.

Sarah hosts her own podcast \\u201cWhere Should I Invest?\\u201d, which reached the Top 50 of All Time for Canadian Investing on Apple podcasts and is also co-founder of The REITE Club and co-hosts their own successful podcast.

Website/contact info for guest:

https://sarahlarbi.com/podcast-home/\\xa0

Instagram - investorsarahlarbi\\xa0

Website - www.sarahlarbi.com\\xa0

Please a leave a review, as it helps Gary understand if he\\u2019s bringing on the right guests that you want to hear from!

Interested in learning more about Real Estate Investing? Visit https://www.smarthomechoice.ca\\xa0