Small Multi Sweet Spot with Georges El Masri

Georges El Masri is a passionate real estate investor who is interested in helping people get over the fear of investing in real estate.

In this episode, Georges shares how he finds his small multifamily properties in competitive markets – The way he finds deals is worth paying attention to. He’s got practical tips to quickly grow your deal-flow and real estate business.

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What you’ll learn in just 17 minutes from today’s episode:

Find out the main advantages of small multifamily properties
Discover about a unique and less costly way of finding deals
Learn helpful tips to help you grow your real estate portfolio quickly

Resources/Links:

https://welloffpodcast.ca/

Topics Covered:

01:27 – What made him focus on small multifamily properties
03:17 – What is his advantage against big guys in the industry
04:35 – Why go for the residential financing and not the commercial
05:50 – How many units can he qualify for residential financing
06:31 – On working with joint venture partners
06:50 – How does he find properties other than from MLS
07:36 – What is an exclusive listing
07:54 – Why a seller signs a listing agreement rather than have it in MLS
08:23 – Other means of finding deals that worked well for him
08:46 – Which neighborhoods does he send flyers to and how does he send them
09:26 – How does he make sure the flyer reach the actual owner
10:24 – Encouraging words for those intending to get started in real estate
11:42 – Being open to partner with both active and passive investors
12:27 – Taking a look at how his partnership with joint venture partners work
13:29 – How does he make his joint venture partners get interested to partner with him
14:13 – Why did he start a podcast and how does it help his business

Key Takeaways:

“I just love the idea that I can have a property even if one person’s not paying, I have three or four other people that are and I won’t have any issues paying the mortgage at the end of the month.” – Georges El Masri

“You just got to try it and see what works. There are all these different methods that you have to try and, and you find opportunities in different ways.” – Georges El Masri

“I love looking for off-market opportunities. And part of that is because if you can get them for a bit of a discount, let’s say that you don’t charge commission or whatever and you get it for a discount.”– Georges El Masri

“With residential financing, it’s easier to qualify, you don’t have to do a phase one. You don’t have to pay for all the broker fees and all that, you’re just getting it through the bank. So, the costs are lower, the learner fees are the same as a typical mortgage. – Georges El Masri

“I can say that the reason that I’ve become this comfortable, or even that I dove into four to six units, is because I hired a coach, and I got help.” – Georges El Masri

“There’s a bunch of different ways to do it. But I really think that you need help. It’s hard to grow quickly if you’re trying to do everything on your own.” – Georges El Masri

“I’m always asking. Anytime that I see somebody who’s interested in investing, but they don’t know how, or they’re afraid, I always bring it up. I follow up with people, so I don’t just ask somebody once. And if they say no, I’ll check in with them again in a couple of months or whatever. Always, always on the lookout, always staying in touch and talking to people.” – Georges El Masri

“Why I started a podcast? I figured it’s an opportunity to share a good message, and I get to pick people’s brains, which is awesome. So, a lot of people that I probably never would have had an opportunity to sit down with and have a conversation with are open to it when you say I’m recording a podcast.” – Georges El Masri

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