E106 Are You Missing Out on an Easy Way to Boost Rental Income?

Become an REI Hot Seat Insider: ⁠https://submit.jotform.com/info_Admin_info831/rei-hotseat-insider-sign-up-form In E106 of REI Hot Seat, Andrew Hines, Jacob Campagnaro, and David Hulshof discuss a new 21-unit investment opportunity in Hamilton, Ontario.  Located in a stable residential neighbourhood, the property offers significant potential for value-add through energy-efficient upgrades like mini-split heat pumps, LED lighting, and improved appliances, making it eligible for MLI Select financing.  The team explores strategies to increase income, such as converting oversized mechanical rooms into additional units, charging for parking and storage, and managing utilities to maximize profitability.  With many units recently renovated and vacant, buyers can choose tensants or have units leased before purchase.  Episode also emphasizes the importance of having a solid network of professionals for effective property management and ends with an invitation for interested listeners to reach out for a detailed property review. Don't forget to join the Insiders list for access to off-market deals and other unique opportunities. Andrew's linktree : https://linktr.ee/theandrewhines REI Hot Seat Instagram: https://www.instagram.com/reihotseat/ E106 Are You Missing Out on an Easy Way to Boost Rental Income? 00:00:33 - Intro 00:01:20 - Hamilton Market and Property Details 00:03:01 - Potential for Additional Units and Storage 00:05:08 - Current Status and Tenant Profile 00:10:02 - Financing and Cash Flow Analysis 00:17:02 - Utility and Efficiency Upgrades Discussion 00:22:26 - Investor Opportunities in Value-Add Strategies 00:23:00 - Pricing and Performance Metrics 00:28:38 - Final Thoughts and Closing Remarks Disclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision. --- Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively. His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.