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In E116 of the REI Hot Seat, Andrew Hines is joined by Brad McCrae and David Hulshof to analyze an on-market 12-unit multifamily property in Wasaga Beach.

The team explores the potential of the property, emphasizing its cash flow, development opportunities, and creative financing strategies through CMHC.

Key highlights include leveraging the property's location near new developments, such as a recently built casino, and the benefits of holding cash-flowing properties while working on development plans.

They also discuss Airbnb arbitrage, the importance of due diligence (e.g., environmental inspections and lease reviews), and strategies for negotiating favorable financing terms.

This episode underscores the viability of on-market deals in secondary markets for investors who prioritize safety, sustainability, and incremental value-add opportunities.

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E116 Do Profitable On-Market Deals Still Exist?

0:46 Exploring an On-Market Deal

1:56 Wasaga Beach Property Breakdown

3:00 Highest and Best Use: Development Potential

4:17 Cash Flow and Airbnb Strategies

7:12 Rent Lifts and Stabilized Value

9:00 Refinancing vs Selling Approaches

12:00 Building CMHC Conditional Clauses

18:00 Local Market Dynamics in Wasaga Beach

20:00 Why Wasaga Beach is a Thriving Market

Disclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision.

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Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively.

His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.