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All Forum Posts by: Dan Mays

Dan Mays has started 1 posts and replied 7 times.

Post: Triplex conversion by adding a legal basement

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

You could check out SuiteAdditions run by Andy Tran. I’m not sure if they go as far as Brantford if you were to hire them. But they have a starters guide that you can use. I found it pretty helpful. Blog posts are also useful. Unfortunately I found it after I did my conversion in Mississauga, but now know better. 

Post: Brantford Ontario real estate agents

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

The Munir Group is based in Brantford and is investor friendly. 

Post: Newbie looking to start a mastermind

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

Thanks for the warm welcome everyone!

@Tapanga Matthews, This is what I'm thinking so far, but we can work these out as a group:

Frist meeting: intros, establishing group rules and goal setting. Group rules can be anything (ex: no selling, how often we meet, limits to the # of members, etc.) For goal setting, we'd each prepare a list of things we want to accomplish over the next year, in 5 years, in 10 years, etc. and use the others as a sounding board to refine those goals (maybe they're not realistic or maybe they're too easy) This is brainstorming really. The group would refine those goals for each member. Then we'd pick two/three people to be in the "hot seat" for the next meeting. This is why I think we should keep our numbers around 5-6. If we meet monthly, everyone gets to be in the hot seat at least every other month. Those two people then choose what they are going to accomplish by the next meeting and we put it in writing.

Subsequent meetings: The person in the hot seat explains / proves what they accomplished. For example, let's say in the first meeting I said I'd get new business cards, by the next meeting I should be able to hand out those business cards. That's a simplified example, but you get the idea. The others then offer constructive feedback; maybe the goals were too easy, maybe something was overlooked, maybe the person just didn't try hard enough. (That sounds more intimidating than it is).

Generally, the group is there to support, but challenge each other and hold everyone accountable to following through with what they say they will do in building their business. Brian said above that too many struggle on their own, and I completely agree. I've used masterminds before for other things and they are a fantastic tool for accomplishing what you want. When things get put in writing or when you tell others what you will do, you're more likely to actually do it. (I'm getting down from my soapbox now, this post is already too long).

You can send me a PM to discuss further if you'd like.

Post: Newbie looking to start a mastermind

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

Hello BP Community,

I'm relatively new to BP and REI. I'm currently house hacking my primary residence into one with a basement suite. This is my first venture into RE.

I'm in Mississauga, Ontario and looking to start a master mind group with some others (maybe 3-5 people) in the GTA region. Preferably in the GTA rather than spread across the country or US, since we could have the option of meeting in person. It would focus more on accountability rather than sharing knowledge, since there is plenty of that to be taken from various sources. I'm open to any ideas though. If interested, please let me know and I'll organize a time and place once we have enough people.

Dan

Post: New Member from Toronto

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

Hi @Samuel Sedore,

Thanks for the REI Group meetup. I signed up and will be there for the next meeting (May 2).

I'm likely going to look for properties in the Mississauga area (my home turf).

Would that be an area your interested in? What type of properties are you after? How much of a discount are you looking for from the ARV (the bigger the better, I know, but what is your absolute minimum)?

I've started some basic marketing and networking, I can't say a deal is around the corner just yet, but my goal is to do at least RE deal this year.

Thanks,

Dan

Post: Toronto Newbie

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

Hi @Ian Ramos and everyone,

I too I'm just getting started and thought wholesaling would be a good place to start. But the more I research it, the more I see it is difficult in Canada and especially in the GTA. I'm sure it can be done, I see evidence of those doing so in various areas in the city. Might be good if you only want a p/t strategy and I say p/t but still needing a lot of work. I found the Ultimate Beginer's Guide on the site (book and video) are good places to start.

To our success,

Dan

Post: New Member from Toronto

Dan MaysPosted
  • Rental Property Investor
  • Mississauga, Ontario
  • Posts 7
  • Votes 4

Hi @Marlo Moses,

I'm relatively new too. I've only purchased my primary residence, currently trying to get the basement turned into an income suite and have invested in my first note. But I'm looking to get a little more active and get my first true investment deal done this year. I recently finished the ultimate beginner's guide (book and video course) on the site and they are both good starts.

Not sure the strategy I'll use just yet. I was thinking wholesale, but the more I research it, the more I see it is difficult to do in Canada, especially the GTA due the higher median prices.

Best successes to us both.

Dan