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All Forum Posts by: Roy Cleeves

Roy Cleeves has started 2 posts and replied 668 times.

Post: Buying with family tips

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

You have the most important items already in your mind. 

1. Exit strategy

2. Written agreement on who will do what work and how income and expenses will be shared. 

3. Written process for buy out and in the event of death. 

4. Add a dispute resolution process such as agreeing to arbitration or mediation etc. 

5. Consider property management instead of trying to do it yourself.  That way it is impartial and in the hand of a third party so there is no resentment or claims of not doing the best for the property in terms of tenant placement etc. 

6. Talk through some scenarios and discuss how each of you would handle that scenario and this will help you see if you are in the same page. 

And best wishes.  I did this with my brother in law for the first investment and it was a sore spot till we sold the property. 

So I learned the hard way!

Post: Growing a Brokerage From 0 to 100 Agents in 5 Months

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369
Quote from @Jonathan Forbes:

Life can be very unpredictable.

Something I could have never predicted was becoming a brokerage owner at an early start in my real estate career.

Being thrown into an unfamiliar industry, I was entrusted with managing brokerages in 3 different States and 1 Province. I built the structure and scaled these cloud brokerages starting from zero.

But of course, I wasn't alone. I had a fellow business partner who was the driving force and leader in executing this new venture.

We started out owning a Brokerage in Ontario, Canada our home Province and Country. We were able to collect referrals from our lead generation services that we did on the side. At the time we didn't prioritize Real Estate, but understood the Marketing systems and took advantage. Up until our venture was paused due to Covid, we then switched our focus completely on Real Estate.

We took everyone's feedback and expanded Operations into the United States, starting in Florida and Nevada, then Texas shortly after. Being that we had a small team based in Canada, we ensured all our operations were cost efficient and of most importantly, cloud based. This marked the start of our journey of being a North American-wide cloud-based brokerage.

This was not an easy task to execute. There was a lot of work in front of us and I took on the responsibilities for our internal procedures and workflows. This included our agent recruitment process, onboarding, cloud-based technology, online environment & culture, and our lead generation tactics, which I already had experience in.

This was A LOT to take on, especially with no experience, resources or tools out there to help. What was most shocking however, was the lack of resources available to help Real Estate Professionals with launching their own Brokerage and expanding their Realty Business.

Nonetheless, after trial and error I figured it out and was successful in building, implementing and managing these tasks. We surpassed our goals, rapidly recruiting in all our markets generating a consistent flow of agents. Additionally, I was able to hire and delegate some of my work to experts who were even better than me, building a team I couldn't be more proud of.

Our hard work took us to heights we never imagined, like reaching 100 agents in 5 months!

After seeing success at a small scale, we were ready to expand operations across the States, replicating the process I've built everywhere. However, life showed me once again how unpredictable it can be. Due to unforeseen internal issues with shareholders, the focus and funding towards scaling was halted. This resulted in my team and I losing out on the opportunity to scale the company to compete with eXp Realty as the number one cloud brokerage.

Additionally, this decision resulted in there being drastic layoffs, causing the team I built to be let go.

Given the relationships I've built and loving the work we did together, I decided to step away from my position within the Brokerages and keep my team together to pursue a new venture.

That's what brings me where I am today. Choosing my team over stability, I've decided to support Brokerages, Agents and Teams across North America.

We'll be taking our expertise, experience and tech to help other Brokerages, Agents and Teams. Whether it's with recruiting, implementing innovative tech, lead generation or building / optimizing a workflow structure, we'll be there.

This is something I wish I had access to when getting started and I believe is essential to have within the Real Estate Industry.

With it only being 2 months since we started, I'm blessed to say we've already had 4 clients sign on, officially starting my new chapter has officially begun!

Stay open minded, go with your gut and always give it your all!

Congratulations!

let’s connect.  

maybe we can go together. 


I have sent you a colleague request. 

Post: Ban on non resident to buy real estate in Canada

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

If you buy in the name of a resident of Canada and do a partnership without you on title.   

It seems like that would work yet best to confirm with a lawyer.  

And understand the risk of not having your name on the title. 

As you said - maybe a trusted relative or friend yet also ensure you have everything in writing to protect yourself. 

Post: Ontario, Canada multi-family investors: TOU or Tiered hydro?

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

I found my hydro company - Kitchener Wilmont Hydro has a comparison of TOU and Tiered for my actual use.  It was within a few bucks either way.  So for mine it didn't really matter.

Hopefully some other responses will be helpful.  Good Luck!

Post: Insurance for Halifax Rental

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

We use Jeff at viewpoint insurance. 

Post: Buying in a Cooling Market

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369
Quote from @Hai Loc:

@Roy Cleeves

Finally KW was going nuts for months

So true.  Time again now for buyers!

Post: Buying in a Cooling Market

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

@Meagan Peters

It depends upon whether you have your financing interest rate locked in or not. 
lf you wait and interest rates go up then ultimately your monthly payment may cost you more than a few by now. However if you have a preapproval with a locked in rate and you can buy may be 60 or 90 days out then there is a very good chance that you will get the best rate possible along with a better price than what might be possible today.

.

I hope that helps 

Post: Buying in a Cooling Market

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

I feel a cooling of the market in Kitchener - Waterloo now.  If you are buying at this time, you want to negotiate strongly for a discount from the Seller's inflated expectations from the past few months.

And be prepared for the market to maybe go even lower than the price you paid.  Otherwise, you may want to wait, yet it is always hard to tell where the bottom is and where the top is.

Post: 2022- Where are you currently looking for deals?

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

I have been investing in Nova Scotia.  Still deals available.

Post: Joint Venture Agreement

Roy CleevesPosted
  • Residential Real Estate Broker
  • Kitchener, Ontario
  • Posts 687
  • Votes 369

I have a form you can use - at your own discretion as I am not a lawyer.

Private message me and I can send it to you.  Cheers