{"id":11584,"date":"2019-02-05T15:15:14","date_gmt":"2019-02-05T23:15:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11584"},"modified":"2019-01-30T10:28:08","modified_gmt":"2019-01-30T18:28:08","slug":"how-to-invest-by-choosing-the-right-property","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/02\/how-to-invest-by-choosing-the-right-property\/","title":{"rendered":"How to Invest by Choosing The Right Property?"},"content":{"rendered":"<p style=\"text-align: justify;\">Choosing the right property in which to invest is only half the battle\u2014the other half is ensuring that it\u2019s renovated to full potential.<\/p>\n<p style=\"text-align: justify;\">But what if there were somebody to do both for you?<\/p>\n<p style=\"text-align: justify;\">In 2013, Magellan Wealth Advisors was founded by Carlos Rodrigues, an erstwhile advisor for Freedom 55 Financial who realized that his personal real estate investments produced vastly superior yields to what he was contractually obligated to sell his clients. While still a fine wealth advisor, Rodrigues considers himself an even more astute real estate investor.<\/p>\n<p style=\"text-align: justify;\">Magellan buys single-family houses and converts them into multi-family homes, and in doing so pumps their values through the roof. Operating on either joint ventures, or accepting up to five investors at a time, Magellan finds properties, renovates and then manages them from start to finish.<\/p>\n<p style=\"text-align: justify;\">\u201cThe investor puts up capital and, typically, we\u2019ll be on title of the mortgage to qualify for it,\u201d said Rodrigues. \u201cWe take care of all the work but we take half the risk off of the investor\u2019s shoulders. We find that people want to get into real estate but don\u2019t have the time because when something is being renovated, you need to be present.<\/p>\n<p style=\"text-align: justify;\">\u201cRight from the beginning, we have our own real estate agent who\u2019s in-house and who can qualify the investor for financing. We endeavour to make the whole process of real estate investing no work at all for the investor. It\u2019s as hands-off as possible for them, but\u2014on the joint venture side, for example\u2014they\u2019re getting the full potential of being the owner of a rental property without all the headaches.\u201d<\/p>\n<p style=\"text-align: justify;\">Magellan sometimes flips the properties, but that\u2019s only if an eye-popping offer is made. What it usually does is hold onto the properties and eventually buys out its investor partners after around half a decade. The opportunity exists for the investor(s) to buy out Magellan, too, says Rodrigues.<\/p>\n<p style=\"text-align: justify;\">\u201cWe never try to sell,\u201d he said. \u201cWe get asked all the time, \u2018Do you flip these properties once they\u2019re renovated?\u2019 If it\u2019s appropriate, then sure, but the real money is made by holding it. We haven\u2019t flipped any because they\u2019re all cash cows.\u201d<\/p>\n<p style=\"text-align: justify;\">The company currently operates in Hamilton, where it\u2019s based, St. Catharines, Welland, Cambridge, Kitchener-Waterloo, and Brantford, but it has designs on the areas east of Toronto where cash flowing properties are aplenty, like Oshawa and Ajax.<\/p>\n<p style=\"text-align: justify;\">An example of a Magellan property is in Hamilton Mountain, where the company turned a house purchased through estate sale into a duplex.<\/p>\n<p style=\"text-align: justify;\">\u201cWe gutted it completely,\u201d said Rodrigues. \u201cIt went from three bedrooms with one kitchen and one bathroom to five bedrooms with two brand new kitchens and bathrooms. It has proper insulation now with spray foam, which is nice for temperature maintenance; we painted everything and went the extra step of making it a legal apartment, which we do with all of our properties. Hamilton Mountain has proper fire and sound separation, and we increased the size of windows.\u201d<\/p>\n<p style=\"text-align: justify;\">Even ensuring both units have separate outlets is part of the renovation plan.<\/p>\n<p style=\"text-align: justify;\">\u201cIf, for example, you have a house with two apartments and one outside outlet, it has to be connected to one of the panels, so who pays for the guy downstairs vacuuming his car? We go as far as splitting everything up and going the extra step of mitigating any issues that may come down the pipe.\u201d<\/p>\n<p style=\"text-align: justify;\">With years of experience as an investor, Rodrigues knows opportunity when he sees it.<\/p>\n<p style=\"text-align: justify;\">\u201cWith the need for rental accommodations such as they are in the region, it\u2019s easy to buy a house and bump the value of the property up with a second stream of income,\u201d he said. \u201cThat\u2019s why we hold onto our properties\u2014we\u2019re still cash flowing just short of $800 a month with the Hamilton Mountain property, so why sell the cow providing all the milk?\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/how-to-invest-without-renovation-headaches-253763.aspx\">How to Invest Without Renovation Headaches<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Choosing the right property in which to invest is only half the battle\u2014the other half is ensuring that it\u2019s renovated to full potential. But what if there were somebody to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/02\/how-to-invest-by-choosing-the-right-property\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11584","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Invest by Choosing The Right Property? &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/02\/how-to-invest-by-choosing-the-right-property\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"How to Invest by Choosing The Right Property? &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Choosing the right property in which to invest is only half the battle\u2014the other half is ensuring that it\u2019s renovated to full potential. 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