100+ door and more

Bill Mitsui

Bill Mitsui
REIN Member
Happy new year 2022! After 10 years joined REIN, I'm glad to let this wonderful community know that I purchased over 100+ doors by 2021 with my partner (also REIN member and we met in one of REIN meetings)

It started in 2010, when I joined REIN in Ontario after immigrating to Toronto in 1996. For me, It was not an easy task to manage a full time job and do BRRRR on the side back then. After 5 years of hard work, in 2015, I managed to own 6 properties around GTA. During this period of time, I have learned how to select a heating system, how to fix broken pipes and how to level the floor etc. and lots of debts and most of the properties were not cash-flowing but the market was super hot with great equity appreciation around GTA. In 2015, my family moved to Vancouver.

After much reading and analysis about the market in 2015 and attending most of the REIN meetings in Vancouver , I decided to sell all zero cash flow properties before 2016, and the last no cash flow property in Vancouver was closed on August 1st, 2016. (when Bill-28 started on August 2, 2016) and Toronto in 2017.

With a goal and drafted business plan, I left my job in March 2017. During a REIN meeting in 2017, I discussed my plan with a fellow REIN member and we partnered rightway. The first 24 unit multifamily property was purchased in May 2018 in the lower mainland of BC with great cash flow. The rest is history. We purchased over 100 doors after that and are looking for more in 2022.

There were stressful times after we bought the first apartment building, but with 100% support from my wife and my partners, we managed to make all our properties in great shape and cash-flowwwwwwing.

Entrepreneurship is a great part of this journey, with a determined goal and support from partners and family, we were able to face market and economic turmoil after 2018 when we purchased most of our multifamily properties during this period of time.

I know, BC is one of the hard places on earth to find multifamily properties that make sense. Look hard, work hard, be consistent, have a passion and goal. there are always bad markets, okey markets and deals.

Thank you for reading this.
 

Thomas Beyer

Senior Forum Member
REIN Member
Happy new year 2022! After 10 years joined REIN, I'm glad to let this wonderful community know that I purchased over 100+ doors by 2021 with my partner (also REIN member and we met in one of REIN meetings)

It started in 2010, when I joined REIN in Ontario after immigrating to Toronto in 1996. For me, It was not an easy task to manage a full time job and do BRRRR on the side back then. After 5 years of hard work, in 2015, I managed to own 6 properties around GTA. During this period of time, I have learned how to select a heating system, how to fix broken pipes and how to level the floor etc. and lots of debts and most of the properties were not cash-flowing but the market was super hot with great equity appreciation around GTA. In 2015, my family moved to Vancouver.

After much reading and analysis about the market in 2015 and attending most of the REIN meetings in Vancouver , I decided to sell all zero cash flow properties before 2016, and the last no cash flow property in Vancouver was closed on August 1st, 2016. (when Bill-28 started on August 2, 2016) and Toronto in 2017.

With a goal and drafted business plan, I left my job in March 2017. During a REIN meeting in 2017, I discussed my plan with a fellow REIN member and we partnered rightway. The first 24 unit multifamily property was purchased in May 2018 in the lower mainland of BC with great cash flow. The rest is history. We purchased over 100 doors after that and are looking for more in 2022.

There were stressful times after we bought the first apartment building, but with 100% support from my wife and my partners, we managed to make all our properties in great shape and cash-flowwwwwwing.

Entrepreneurship is a great part of this journey, with a determined goal and support from partners and family, we were able to face market and economic turmoil after 2018 when we purchased most of our multifamily properties during this period of time.

I know, BC is one of the hard places on earth to find multifamily properties that make sense. Look hard, work hard, be consistent, have a passion and goal. there are always bad markets, okey markets and deals.

Thank you for reading this.

Congrats !!


Thomas Beyer, Asset Manager & Improver, Hard Asset Investor & DeFi Asset Hodler, Author, Father, Mentor, Hiker, Kayaker www.prestprop.com
 
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