From Police to Profits in Multifamily with Jules Mckenzie
Tejas Gosai
RE Fund Manager | LVPEFUND.COM | $400MM/3000+ Units Closed | REI.MBA Podcast Host
In the dynamic world of real estate investment, success often emerges from overcoming obstacles, constant learning, and a relentless pursuit of financial goals. Episode 104 of the Real Estate Investor MBA podcast features the journey of Jules McKenzie, a seasoned real estate investor with a two-decade track record in Canada. McKenzie's candid account of his early struggles and eventual triumphs offers valuable insights for both experienced and novice investors. Listen in.
A Strategy Rooted in Resilience
McKenzie's strategy centers around the purchase and retention of residential properties, primarily focusing on fourplexes and fiveplexes in Orillia, Ontario. While this approach may sound straightforward, his success story is a testament to the importance of tenacity and education in overcoming financial challenges.
The journey began with initial setbacks and financial hurdles, but McKenzie's determination pushed him forward. He highlights the significance of perseverance, even during times of adversity, and emphasizes the role of continual learning as an essential tool in conquering the complexities of real estate investment.
The "10% Solution"
One of McKenzie's key investment metrics is the "10% solution." This metric entails multiplying expected rental income by ten or twelve and then dividing it by the purchase price. This formula helps him determine if a potential investment is worth further exploration. It's a simple yet effective method to gauge the feasibility of a property.
Raising Capital with Trust and Credibility
Raising capital is a critical aspect of real estate investment, and McKenzie has mastered this art over the years. He primarily sources funds from friends and acquaintances. Trust is the foundation of his approach, and his background as a police officer plays a pivotal role in building credibility and confidence with potential investors.
A Vision for the Future
Beyond immediate success, McKenzie has a more profound vision. He aspires to create a real estate legacy that can be passed down through generations. He has helped his own children purchase homes with income-generating suites, emphasizing the importance of building a financial future for the family.
McKenzie's journey showcases the significance of resilience, learning, and a vision for the future in the world of real estate investment. He also offers a glimpse into his perspective on the real estate market's future, hinting at possible adjustments in property valuations as interest rates continue to rise.
领英推荐
==============================================
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*?
Please subscribe to the Real Estate Investor MBA Podcast on the following platforms:
?? 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/