3 Ways to Make Money Using Debt in Canadian Real Estate in 2021

3 Ways to Make Money Using Debt in Canadian Real Estate in 2021

****DISCLAIMER:
With any and all investing you should always obtain independent legal, taxation and financial advice from a licensed professional before investing any of your own money.

Time map

00:00 using borrowed money to get rich
00:38 my mission
00:47 debt misconceptions
01:51 insight #1 mortgage your properties
03:42 3 ways to make money on a rental property
06:05 how home equity line of credit works
08:39 bonus
08:58 how to use credit cards to make money in real estate
10:29 let’s connect
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Darren Voros

Darren’s diverse skillset has taken him to many stages around the world. He has been featured as an on-air renovation expert on “The Goods” (CBC) and “CityLine” (CityTV). Darren was also the behind the scenes contractor on “Save My Reno” (HGTV) and “Game of Homes (W Network).
Darren is an accomplished real estate investor, trainer and coach. He controls a portfolio of properties worth just over $10,000,000 and has travelled across North America educating, inspiring and motivating audiences on the subject of real estate investing, financial independence and financial literacy. Darren’s willingness to give back prompted him to launch his YouTube channel in 2020 in order to have a wider reach in educating investors.

[joelc]

Love your work. Just a note: at 5:30 your calc for rental property with 80% mortgage, you have 24k as opposed to 2.4k on screen.

[IanWilliams]

You made an error on you second example when calculating your cash flow with the home with 100k down. It was 2400/year not 24000/ year. So you anual total is significantly less than paying for a home in cash.

[rae]

Great explanation using simple numbers. Always like the humour!

[annswallow]

All good strategies Darren. I like the HELOC one.

[mayl]

Can the first topic mentioned be useful if the mortgage rate is higher like in 2023?

[IanWilliams]

Oh your total was correct, just confused me there.

[monikaleszko]

Ok so now I know I can buy furniture for my new place using their credit card ( no interest for a year ) and grow my credit score even more 🙏🙋🏼‍♀️ winning !!
I hope ikea has one lol

[HipChey]

Would love to see this same breakdown but with 2023 interest rates.

[gabrielyam]

Thanks for the videos Darren, always very educating! Question, where do I go to find these private lenders? I’m in my late 20s and I want to get into real estate investing.

[suenorton]

Thanks! If I take a Heloc on my primary residence and invest in a rental property or JV or Private REIT- are the interest payments on the HELOC tax deductible ?( I am not incorporated).

[JosephKimJoeyBigTime]

where do you find the people willing to pay 12% interest on the loan you give them using your heloc?

[PratipRao]

I didn't get the math part can you help me understand 12k+24k+15k = 29k ?

[tonyshaw]

I have a LLC (oilfield contractor) is it a bad idea to add real estate investing for rental income to it? Or keep it as its own company? Not much liability in my contracting company, just my pickup truck.

[michaelfarah]

Please note at 5:30 minutes of the video it is 2400 not 24000, however, the final answer is correct.

[austinfaulkner]

You made a massive miscalculation. You stated you’ll make $2, 400 per year with a $200 positive cash flow. In your calculation you wrote $24, 000, overstating your ROI massively.

[monikaleszko]

Darren,
Thank you for all your knowledge
Can’t wait to invest and be financially free one day and live on the beach haha 🏖

[presentowner]

Mindbuildingsolutions approved!
Excellent content and video.