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Strategic Real Estate Investing in Western Canada & James' 6-Plex Development Formula with James Knull
Manage episode 390919496 series 3527885
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James Knull is a seasoned real estate investor based in Vancouver, with a successful team of 20 agents between multiple cities. Despite having a great real estate business, James is still heavily focused on real estate investing and he is on the Self Wealth Real Estate podcast with us to share his journey in the industry, the strategies that work for his business, and the lessons he learned along the way.
Listen now to learn more about James, the different strategies he is using for his real estate business, and the opportunities you can find as a real estate investor today!
Key Talking Points of the Episode
00:00 Introduction
01:21 What is James’ background?
02:04 What is James focused on today?
03:46 How is James developing 6-plexes in Edmonton?
05:44 What criteria are used to calculate affordability for the MLS Select program?
08:30 What funding options are available for investors through MLS Select?
09:30 Why did James decide to develop 6 units?
12:50 What is the build cost of the 6-plex that James is developing?
16:35 Why did James decide to invest more into the development of the 6-plex?
18:32 What does the market in British Columbia look like today?
22:05 How much has flipping activity changed in Vancouver this year?
23:32 What is it like to invest in Edmonton today?
27:07 What does affordability look like in Edmonton?
29:47 What other asset classes has Wes gotten involved with?
33:15 Why did Wes decide to build the 6-plex to rent?
34:18 Why is Wes investing both actively and passively?
37:46 How does Wes manage his team?
40:45 What is Wes’ favorite deal like?
Quotables
“In a roundabout way, there’s a tax efficiency to getting negative cash flow if you’re seeing it as the negative $50K over 5 years of negative cash flow just counts as part of your initial investment.”
“People want good lots in good locations, so lots that are flat and are easier to build on, lots that are close to parks, lots that are close to schools.”
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