Episode #224: Tenants, Toilets, Partners and Evolving Strategies. Nuts and Bolts Real Estate Talk with Tom Sullivan

Here is What you will learn in our interview with Tom:

• Key factors to ensure you place good tenants

• The big challenges that are Par for the course when you decide to invest in real estate and how to navigate them

• Things to consider when first starting out

• Avoiding partnership pitfalls

• And much much more…

Bio:

Tom grew up in an average family household in Cambridge Ontario. He followed the traditional golden rule of go to school, obtain a good education and secure a good job. He took education to heart earning multiple university degrees and a professional accounting designation. However, he realized formal education would help secure a good job it would not necessarily generate financial security or long-term wealth. Early on Tom knew real estate investing would provide financial freedom from the 9 to 5 job.

While working as Chartered Professional Accountant at one of the largest telecommunications information technology and consumer electronics company, Tom decided to begin real estate investing in 2015, running it as a business not as a hobby and purchased 11 properties in a 9-month period. Since then, he has not allowed obstacles slow him down but rather thrived to find solutions around such obstacles.

Tom personally and along with joint ventures have purchased and sold over 30 properties, currently he has a portfolio of properties with a current market value exceeding $10M. Tom has employed creative financing and forced appreciation strategies to purchase his properties, allowing him to use little of his own capital to purchase his portfolio including the purchase of his primary residence. Tom specializes in joint ventures purchasing single family homes and forcing appreciation by adding a legal secondary suite. As the real estate investing environment changes Tom has expanded his strategies including international markets to remain running a profitable business.

In addition to purchasing properties Tom is a multiple award real estate investor recipient. Tom loves to talk and share his knowledge of real estate investing. He has been featured in the Canadian Real Estate Wealth Magazine, guest speaker throughout Ontario and featured on many prominent real estate investing podcasts. He is actively lobbying on behalf of landlord rights.

Tom credits his success in having the right power team in place to purchase the right properties to be able to force appreciation by adding the legal secondary suite utilizing the buy, rent, renovate, rent, refinance strategy to provide his joint ventures and himself a solid return.

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Websites Tom Mentions

Landlordeasy.ca

frontlobby.com

Openroom.ca