Do you want to invest in an investment strategy with maximum profitability, minimal hassle, and no need to worry about student-related conflicts and issues?
Gillian Irvingbecame a serious student of real estate investing and combined what she learned with her professional skills as a market research analyst to purchase 35 doors in Southern Ontario in 18 months. Today, Gillian is a full time investor and entrepreneur, focused on student rental investing with joint venture partners.
In this episode, Gillian shares her strategic and careful approach to creating a profitable rental portfolio that you can manage with minimal difficulty and avoid student-related issues, allowing you to maximize the potential of this lucrative opportunity.
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What you will learn from this episode for 19 minutes:
01:16 - What made her choose this strategy back in the day she started in real estate
02:46 - What your cash flow looks like monthly renting by the room versus to a single family
04:57 - The massive benefits of having student rental versus single family home [ and how to stay on top of all the students' shenanigans]
10:17 - How come stricter tenant laws are not getting in the way of Gillian's investment strategy
11:18 - Ways of avoiding student conflicts that happens from time to time
12:51 - Tenant issues she has to deal with in the early years of her business and how to prevent that from happening
14:25 - Leveraging partners, investors, and contractors in her real estate investment journey
15:18 - How Gillian scaled her real estate investment business
17:58 - Her way of networking with people and how she developed her public speaking skills and how it got her into building relationships and where it got her business now
19:41 - How to connect with people, talk and speak in front of like-minded groups and circles
"What I needed back in the day was a real estate strategy that had greater than average cash flow . And so that is what led me towards this strategy [student rental] and which has kept me there because that is exactly what it delivers on. It has all the goodness about single families, but this renting to students has better than average cash flow."- Gillian Irving
"When you rent by the room versus to a single family, you can charge a whole lot more."- Gillian Irving
"You never have to worry about people coming and never going. You have an opportunity to always reset your rents."- Gillian Irving
"Wherever possible, I try to get groups of friends to come together. That does not eliminate conflict, but it minimizes the possibility that there'd be difficulties."- Gillian Irving
"I delegate the responsibility of tenant conflicts to my property manager who will handle that professionally and seamlessly."- Gillian Irving
"You just kind of had to let go of the fear and just start talking about what you're doing, recognizing that no matter where you're at, that can be an authority for someone on the spectrum somewhere."- Gillian Irving
Connect with Gillian Irving:
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