EP 104: From Police to Profits in Multifamily with Jules Mckenzie
In this episode, our guest, Jules McKenzie, shares his insights and experiences on the dynamic world of real estate investment. Jules discusses the importance of economically viable investment deals and the invaluable lessons he learned from his early career investments. One area that particularly caught Jules' attention is Orillia in Ontario, Canada, which he considers a top-notch location for real estate investment. He dives into the rental rates for residential and commercial properties in Orillia and offers his predictions on how interest rate changes can impact rents and property values. Sharing his funding strategy, Jules emphasizes the power of investor partnerships and highlights the requirements for conventional mortgage rules in Canada.
As a master of cold calling and a successful commercial real estate agent, Jules shares valuable tips on prospecting and network marketing. From navigating difficulties to bouncing back, Jules shares his personal journey, including his experience with a loan and a highly profitable townhouse investment project sold in 2020. Join us in this engaging episode as Jules McKenzie's expertise and candid stories inspire listeners to explore the world of real estate investment and unearth new opportunities for success.
💥💥 Remember, this is your MBA. Have a notepad handy, and get ready to take some 📝 notes!
Key Points from This Episode:
The importance of making economically viable investment deals
Lessons learned from early career investments
Orillia as a top area for real estate investment
Rental rates for residential and commercial properties in Orillia
Predictions about the impact of interest rate changes on rents and property values
Funding strategy through investor partnerships
Requirements for conventional mortgage rules in Canada
Repayment structure for investors in property deals
Mastery of cold calling and success as a commercial real estate agent
Establishment of a private equity fund and educational podcast for investors
Lessons learned about prospects and network marketing
Jules’ experience with the real estate investment network and the possibility of accreditation
Jules’ desire for increased efficiency in real estate investing and predictions about interest rate hikes
Comparison of interest rates for residential and commercial mortgages
Jules’ perspective on valuations in the real estate market and the need for alignment with fundamentals
How Jules bounced back from difficulties
Experience with a loan and successful townhouse investment project
Profit made from the sale of the townhouses in 2020
Tweetables:
“The first thing I had to learn was these are my prospects, they're not the suspects.” –Jules McKenzie
“If I'm looking at a deal, the deal's got to work. It's got to make economic sense for my wife and I to proceed.” –Jules McKenzie
“Perceived valuations will have to come down at least 30%-40%, maybe even 50% in some cases, for things to make economic sense.” –Jules McKenzie
“People want to invest with people that are credible.” –Jules McKenzie
Resources
51 Success Stories from Canadian Real Estate Investors by Don R. Campbell
About Jules McKenzie
Jules McKenzie was born in Temiscaming Quebec about five hours north of Toronto on the east side of the Ottawa River. Jules is a successful real estate entrepreneur. Jules currently holds an interest in 50 separate properties and is the operations manager in over 12 joint ventures. Jules McKenzie is a retired police officer from the Rama Police Service, with a successful career of 33 years serving alongside the Ontario Provincial Police.
Jules and his wife have dedicated the past 22 years to investing in residential real estate, particularly fourplexes and five plexus. However, their most notable achievement is a stunning and lucrative short-term rental property located at 241 Mississauga Street West in Orillia. With an impressive career behind him and a thriving real estate portfolio, Jules McKenzie is an experienced and accomplished individual. His story is featured in the Don R. Campbell release, "51 Success Stories from Canadian Real Estate Investors."
==============================================
The education we provide is sponsored by Lehigh Valley Fund. The fund earns returns through real estate investing and pays inventors an average 10% return with a 12 - 18% target*
Click here to book Fund Manager Tejas Gosai.
Contact Jerna Bentilanon to schedule a visit to our offices or a tour of one of our properties: j.b@lvpefund.com, 610-230-7777
==============================================
Please subscribe to the Real Estate Investor MBA Podcast on the following platforms:
iTuneshttps://www.linkedin.com/company/realestateinvestormba-com
Spotify
Stitcher
iHeart Radio
TuneIN
Google Podcast
🙌 If you like what we are doing and see that we are providing a lot of value, please be sure to leave us a 5-star review and positive comment. In doing so, this helps us continue to attract the highest quality type guests to interview and for you to listen to.
Check us out at our new website at: https://www.rei.mba/
Follow us on Social Media:
✔️ YouTube
✔️ Facebook
✔️ LinkedIn
✔️ Instagram
✔️ Twitter