Is the BRRRR Strategy Dead in Canada… Or Is There Still Opportunity? ft. Jack Bernstein Ep. 28

"Does the BRRRR strategy still work in Canada… or is it over?”In this episode of the BLD Financial Podcast, we’re joined by Jack Bernstein of Bernstone Capital to break down what’s actually happening in today’s Canadian real estate market and why many of the strategies that worked over the last cycle are no longer producing the same results and how investors are being forced to adapt in today’s market.From rising interest rates and shifting cap rates to softening rents and tighter lending conditions, the environment that made BRRRR so effective has fundamentally changed.This conversation goes deep into what investors are getting wrong right now, where deals are breaking down, and how experienced operators are adapting their strategies to survive and scale in this new market cycle.We also explore the growing shift from small residential portfolios into mid-size multifamily (5–25 units), and why access to deals, proper underwriting, and long-term thinking matter more than ever.We break down:✅ Does the BRRRR strategy still work in Canada today✅ Why high-leverage deals (90–95% LTV) are becoming increasingly risky✅ The truth about cash flow and why it’s often an illusion early on✅ Why many investors are struggling with refinancing and negative equity✅ How cap rates, rent shifts, and market cycles are impacting deal viability✅ The shift from “velocity investing” to long-term buy-and-hold strategies✅ Why most multifamily deals aren’t as simple as they look on paper✅ How serious investors are adapting their approach in 2026 and beyondAs the Canadian housing market continues to reset, this episode provides a real, unfiltered look at what’s working, what’s not, and what investors need to understand before making their next move.Whether you’re a real estate investor, developer, mortgage professional, or simply trying to understand where the market is heading, this episode offers a grounded, insider perspective on navigating today’s investment landscape.If you enjoyed this episode, make sure to follow or subscribe to the BLD Financial Podcast and share it with someone who would find it valuable.About Jack Bernstein:Jack Bernstein is the founder of Bernstone Capital, a real estate firm focused on mid market multifamily transactions across Ontario.Specializing in the 5 to 50 unit space, Jack works directly with investors to source, structure, and execute deals that sit between traditional residential investing and institutional grade assets.His approach is centered on guiding clients through the full transaction process, from acquisition strategy and underwriting to stabilization and long term portfolio growth, with a focus on navigating complex deals in today’s shifting market.With a strong understanding of capital markets, deal structuring, and evolving investor behavior, Jack helps bridge the gap between opportunity and execution for investors looking to scale beyond small residential portfolios.In a market where many traditional strategies are breaking down, his focus is on helping investors adapt to changing fundamentals and make more informed, long term decisions.Follow & Connect with Jack Bernstein:Instagram - https://www.instagram.com/bernstonecapital/Facebook - https://www.facebook.com/jackdanielbYouTube - https://www.youtube.com/@BernstoneCapitalWebsite - https://www.bernstonecapital.com/Follow & Connect with Josh & Ehren:Instagram - https://www.instagram.com/bldfinancialFacebook - https://www.facebook.com/BLDfinancialYouTube -  https://www.youtube.com/@bldfinancialDLC National License: 12360