Steve Forget Immobilier

J’aide les investisseurs immobiliers à faire leur première transaction et/ou à faire croître leurs parcs immobiliers locatifs.

[StripMallGuy @realEstateTrent]

The secret to life is asking for things

[Steve Forget Immobilier @ImmoSherpa]

@theficouple Those are very low income taxes! (I’m canadian…)

[Steve Forget Immobilier @ImmoSherpa]

Si les semi-commerciaux t’interpellent, va voir le lien dans ma bio ci-dessus avec tous les détails. Curieux: tu en penses quoi du semi-commercial? 👀 (4 de 4)

[Steve Forget Immobilier @ImmoSherpa]

NOUVEAU - une première depuis 3 ans! La majorité des investisseurs immobiliers restent dans les immeubles 100% résidentiels. Dès qu’on parle de semi-commercial… ils bloquent.
Et pourtant… c’est souvent là que se cachent d'excellentes opportunités! 🤩(1 de 4)

[Steve Forget Immobilier @ImmoSherpa]

’ai monté une formation là-dessus il y a trois ans et je la mets à jour en ce moment de façon plus costaude (4 sessions en direct, petit groupe).🗓 Dates: 4 mardis soirs: 12 mai, 19 mai, 26 mai, 2 juin (Oui, les séances seront enregistrées si tu en manques une). (3 de 4)

[Harley Finkelstein @harleyf]

Québec: #1 in North America for life expectancy

Feels a lot like a blue zone.

Joie de vivre. Strong community. Slower meals. Deep connections.

[Steve Forget Immobilier @ImmoSherpa]

@richardhetu En gestion de projet, on a un terme similaire: Scope Creep. Une perte de contrôle de l’envergure initiale du projet.

[Steve Forget Immobilier @ImmoSherpa]

@dkreative1 He and his brother own a large amount of land that they inherited from their father. It was valued at $2.7 million in 2016 and has likely tripled in value since then. And that’s just one of their assets.

[Steve Forget Immobilier @ImmoSherpa]

@frank_sbr @hydroquebec Comment HQ a su que ton père était décédé et qu'il fallait changer le nom?

[Gérald Fillion @geraldfillion]

La crise du logement est-elle en train de se résorber ?
Le nombre de mises en chantier augmente, tout comme le taux d'inoccupation. «Les jeunes acheteurs et les locataires ne peuvent pas encore crier victoire» dit le professeur Jean-Philippe Meloche à #Zoneéconomie

[The Real Estate God @TheRealEstateG6]

1. Go to tertiary market
2. Find a product type that’s profitable to build
3. Check zoning code and figure out the zoning that allows for that product type
4. Reach out to every property zoned for that use but currently operating as a *different* use
5. Buy, profit

// THREAD //

This takes the “off-market property” strategy one step further

The issue with most off-market strategies is that the owner actually has some idea of the value of the property

For example, most owners know approximately what a multifamily property should be worth in the area

That’s because of three reasons

1. They can base the value off the in-place cashflow
2. They can base the value off comps (and there’s always a ton of multifamily comps)
3. They can call up a broker to tell them what the value should be (and the broker will actually know)

This isn’t to say you can’t get multifamily properties for a discount off-market (you absolutely can)

Just that it’s harder to get a steep discount on them because the market for them is so transparent

The brilliance of the strategy laid out above, however, is that the market becomes a black hole when you switch uses (ex from industrial to self storage)

It works so well because the owner legitimately has no idea what the value of their land should be once you change uses

The valuation methods used above no longer work

1. The owner can’t base the new value off the in-place cashflow because the cashflow obviously changes when you change uses

2. There are barely any comps for switching uses and the ones that exist are almost impossible to look up

Anyone can look up a multifamily sale, how many unsophisticated owners can look at sales in their market and ascertain which properties have switched uses?

My guess is literally zero

3. Brokers (especially in tertiary markets) have no clue how to value a property when you switch uses so the off-market seller can’t even go to them for advice

For example, a property I’m prospecting off-market is currently operating as 3,000 SF owner-occupied industrial facility

But it sits on 10 acres and can accommodate ~200k SF of self-storage. The owner has no idea

I don’t reveal to the owner what I’d be building

So, in order to value the property correctly, a broker needs to understand storage is the highest and best use, know exactly how much SF can be built, know how much it’ll cost to build and know what market rate and new NOI will be

I know for a fact zero brokers in my market are capable of that analysis

So the off-market owner has no one he can turn to to provide him a correct valuation for the property

This means he’s shooting completely in the dark, which is incredible for you

The hit rate on off-market deals is obviously incredibly low but when you hit on an off-market deal with a changing use, you can pick it up for a very steep discount

Often a 50%+ discount because the owner truly has no idea about the actual value

Very manual process, but when you hit big on a deal like this, you hit really big

These are the deals that can retire you early. Just need to hit on 3-5 of these deals in your entire life and you’ll be sitting on a beach drinking mojitos wondering what to do with all your money

If you’d like to learn how to buy deals like this (or even smaller, my first deal was $200k and I only used $2,500 of my own capital) apply in the next tweet for the Acquisitions Bootcamp to work 1-on-1 with me

[Steve Forget Immobilier @ImmoSherpa]

@PuertoVallarta My running spot 🏃🏼🏃🏼

[Daniel Foch @danielfoch]

Toronto (and the GTA) have the highest development charges in Canada by a MASSIVE margin.

Municipalities need to get serious about housing affordability. Even CMHC is calling them out.

[Steve Forget Immobilier @ImmoSherpa]

@DimitrisSoudas ChatGPT

[Steve Forget Immobilier @ImmoSherpa]

Tu veux jaser de stratégies HORS MARCHÉ?
Écris-moi “HORS MARCHÉ” en DM ou en commentaire.
On en parle. (6)

[Steve Forget Immobilier @ImmoSherpa]

Pourquoi l'immobilier HORS MARCHÉ peut complètement changer ton parcours d’investisseur immobilier 👇(1)

[Steve Forget Immobilier @ImmoSherpa]

Miser seulement sur Centris, c’est aller à la pêche avec les mêmes appâts, au même quai que tout le monde.

Tu veux te démarquer? Va là où les autres ne vont pas.(5)