Sherilynn Milsom's Real Estate Insights & Innovation

Surprise question during a presentation today... What are my favourite books? I know what my favourite books are but I got the authors and titles mixed up. There are so many I like. The two favourites I was trying to list were "Influence" by Robert Cialdini and "Grow Rich With the Property Cycle" by Kieran Trass. (For a moment I got him mixed up with Dolf de Roos whom I also enjoy reading, and I have his real estate analysis program which I love. And I got the title of Trass'...s book confused because he co-wrote "Secrets of the Canadian Real Estate Cycle" with Don R Campbell.) What are your favourite books on real estate or business?

#realestateinvestment #landlord #prolandlordtip #proinvestortip

Exciting news! Eviction specialist Donald Gray will be joining us LIVE this Friday at 10 am MDT. Trust me, regardless of the location of your rentals, Don's insights will be pure gold. You do NOT want to miss this. We'll be chatting about what you can to do AVOID needing his services, and also what you need to do if you must evict. He'll walk us through the court-ordered eviction process and what can be expected at the end.... Here's a bit about Don...the man, the myth, the legend: Before retiring from Property Management, it became apparent to Don there is a need for someone to help landlords navigate the eviction process and advocate as an agent. Edmonton Eviction Services Inc. (EES) was born. A property owner himself, Don had honed his skills in the eviction side of the rental business in the old-fashioned way practice. Now, with more than a thousand cases under his belt, he is here to help those of us who may not have the time or the inclination to handle this part of the business. #eviction #Evictions #prolandlordtip https://www.edmontonevictionservices.com/

I should clarify that you need a post office box rental company that provides a physical address for service and not just an unmanned post office box. Tenants are able to affect service of legal documents at the address of my mail service #prolandlordtip #prolandlord #realestateinvestment

Eviction specialist, Donald Gray, shares insights on what to do after you evict a bad tenant: damages, damage claims, and how to get your money. www.edmontonevictionservices.com

Stumbled across this article in the Real Estate News EXchange and thought I'd share: https://renx.ca/tal-sees-stable-housing-and-slower-rental-/ Although this article is Canadian, I think the situation will be similar in the States. "The next six months will be more difficult economically than the past quarter, but the Canadian housing market is expected to continue its V-shaped recovery." ... If you aren't familiar with the idea of a V-shaped recovery, it means we'll recover quickly just like we plummeted quickly, and that's because the fall was based on an odd situation rather than a change in economic fundamentals. Low interest rates are prompting many investors to pick up additional units, so the housing sector remains fairly balanced. The article says rental demand is suffering, but I haven't seen that in my units. I think it depends not only on location, but also the types of rentals one owns. How are your rentals doing? I'd love to hear from you. #RealEstateNewsYouCanUse #realestatewealth #realestateinvestment #realestate

Mortgages 201...these are tips bankers and brokers won't tell you. So...you want to pay off your personal mortgage quickly, but committing to accelerated payments will mess with your debt coverage ratio (critical if you want to buy more properties). Plus committing to high payments is a scary prospect. Not only will this type of mortgage pay off your house faster, but also it will protect you in times of crisis. Whether it's a job loss, a family emergency, or you want to sell... your house with seller-financing or an assumable mortgage, this is the solution. When we bought our personal residence, we wanted to pay off our mortgage as quickly as possible. However, I'm also a professional Real Estate Investor so I need to keep my monthly payments low. So we took the maximum amortization to get the lowest possible payment, but we also signed up for automatic "match-a-payment." This means our required payment was only $1123 per month, but we were paying $2246 per month...with the extra $1123 going straight to the principal. Because the automatic extra payment was optional and could be stopped at any time, it didn't count towards our debt coverage ratio AND we would be protected if we ever needed a bit of extra cash. Part two of this amazing mortgage plan is to have an automatically re-advancing home equity line of credit attached to the mortgage. This means as we paid our mortgage down, our secured line of credit (with a ridiculously low interest rate) would have more available credit each month, which we used to buy more properties and renovate our current properties. Part three...after paying basic expenses on the rentals (mortgage, taxes, and insurance), we took all the excess rent and made extra lump sum payments on our personal mortgage. Of course, then our line of credit increased so all of that money was available to reinvest in the rental business. End result...we had our personal mortgage paid off in 2.5 years and we have a HUGE secured line of credit with tax-deductible interest (as long as we use the LOC for business purposes). BAM! Did I just blow your mind?

IMPORTANT! Eviction specialist, Donald Gray, will be back October 16th at 10 am MDT to discuss tenant damages, damage claims, and how to recover your money. Last week we chatted about the eviction itself, and this week we're talking about what to do once you get bad tenants out of your property. So be sure to join us LIVE and get all your questions answered.... In case you missed last week, you can find the replay here: https://youtu.be/g71JCzO4eLY www.edmontonevictionservices.com #eviction #landlord #landlords #realestateinvestment #BadTenant

Calling all past students... I hope to do a quick Zoom call or Facebook live sometime over the next couple of days to get a couple of case studies from past students. If you would like to be featured please get in touch. This could be from courses you've taken directly from me or from presentations on other stages. Thanks in advance

How to avoid needing an eviction specialist and what to do if you must evict. And at 10 am MDT on Friday, October 16, Don will be back to discuss what happens after the eviction, including dealing with damages and damage claims. https://www.edmontonevictionservices.com/... About Don: Before retiring from Property Management, it became apparent to Don that there is a need for someone to help landlords navigate the eviction process and advocate as an agent. Edmonton Eviction Services Inc. (EES) was born. A property owner himself, Don had honed his skills in the eviction side of the rental business in the old-fashioned way practice. Now, with more than a thousand cases under his belt, he is here to help those of us who may not have the time or the inclination to handle this part of the business.

Last night's free training on how to buy properties with nothing down and no mortgage qualification was AMAZING! If you'd like to expand your portfolio with no can and no messy mortgage, then click below to access the free replay. https://realestatewealth.sherilynn.ca/AFSwebinarReplay

Join me at 5 pm MDT for a FREE webinar on buying properties with zero cash and no mortgage qualification...yes, it can be done! Register here: https://realestatewealth.sherilynn.ca/AFScashcowWebinar

Want to know how to buy properties with zero down and no mortgage qualification? I'll be going LIVE at 3 pm MST to tell you a bit about my free training today at 5 pm MST. You can watch me at 3 or you can register for the FREE training now. https://realestatewealth.sherilynn.ca/AFScashcowWebinar #realestateinvestment #realestatewealth #creativerealestate #businesstool #realestate #financialsecurity #financialfreedom

Reminder: FREE training tomorrow! Discover how to buy properties with ZERO down and NO mortgage qualification. (Yes, it can be done.) https://realestatewealth.sherilynn.ca/AFScashcowWebinar

Buy properties regardless of your financial situation. Register for Wednesday's FREE training here: https://realestatewealth.sherilynn.ca/AFScashcowWebinar

Buy properties regardless of your financial situation. Register for Wednesday's FREE training here: https://realestatewealth.sherilynn.ca/AFScashcowWebinar

I'll be going live today at 3 pm MST to share why you'll want to join me on Wednesday for some free training on how to buy properties with no money and no messy mortgage. See you here in about 20 minutes!

Had a blast on Maria Rekrut's radio show today! I was bursting to share more about how to buy properties with no money and no mortgage qualification, so a couple of times she had to remind me to breathe. This buying strategy is a game-changer for real estate investors...and I'm hosting a FREE webinar on Wednesday, September 9th, to share how it works and why everyone should do it. And thanks again, Maria. https://realestatewealth.sherilynn.ca/AFScashcowwebinar #creativerealestate #realestateinvestment

Several people have asked me what platform I use for my courses and membership portals...it's Kartra. I love that Kartra is all-inclusive, from the contact list and emails to the shopping cart and membership portal. And they are always improving. Totally satisfied with them. If you'd like to give them a shot, here's a link to their free 14-day trial. https://sherilynn.krtra.com/t/RD15nOUFJE9c #onlineclass #Onlinelearning #businesstool

What if you could buy multiple income-producing investment properties (or even your personal residence) without qualifying for a mortgage and with little to no money? How would that change your life? How would that impact your financial future??? Your retirement? Your enjoyment of right here, right NOW? The Guru Intelligence Network recently invited me to explain how people can buy properties regardless of their financial situations. If you'd like the low-down on this amazin...g way to buy properties, then click this link for the free replay: https://realestatewealth.sherilynn.ca/AFSreplay I'll warn you now, the video is over 50 minutes long...but only because it's absolutely jam-packed with investment strategy tools and tactics! #creativerealestate #realestateinvestment #realestatewealth #financialsecurity

A Rent to Own Cash Cow Formula student sent me his first success story! So excited for him! He mentioned getting questions about why the option payments are non-refundable and why they are so substantial. Here was my response: I think most people serious about rent to own don't ask about it being refundable because they plan to buy the house.... If they ask about it being refundable, they either may not be serious or possibly aren't ready to commit to home ownership. In the rare case people ask, I say jokingly: "Yes, all option money is non-refundable if you walk away...so don't walk away." (Of course all contracts clearly state option payments are non-refundable, and we advise people to seek independent legal counsel to review all documents.) And if people want to pay a super small initial payment, I tell them "that amount of money would be more like the security deposit on a regular rental, and we are looking for a rent to own client, so we would require a larger up front payment in order to set that up. We can work with as little as $xxxx as long as there would be more lump sums coming within the next few months." The key to remind prospective clients is "it is our responsibility as a rent to own company to set up our clients for success. And part of that is ensuring they will have at least the banks' minimum down payment when the time comes to buy."

I'm back! And I have exciting news about two upcoming FREE events to increase your income and wealth. First let me apologize for my long absence. I don't know about you, but about 6 weeks after the pandemic was declared, I had internet/Zoom overload. So I unplugged for a few months. Happy to be back and even more pleased to announce these two events.... On August 22 & 23 is an expert summit on wealth creation and preservation hosted by Monica Guerrera, founder of the Guru Intelligence Network. I'll be one of the speakers, discussing Agreements for Sale and how you can use them to increase your income and your real estate wealth by buying properties with little to no cash down and no mortgage qualification. Here's the link to register for this free event: https://guruguerrera.kartra.com/page/CDR69 And in September I'm hosting a free webinar on Agreements for Sale, diving deeper into how to implement the strategy in your portfolio (or to buy your own personal residence). More details to come. Looking forward to helping you with your real estate investment questions. :)

I'd like to invite you all to join the Creative Real Estate Investors Mastermind group. Open discussion for creative ways to buy, sell, and operate real estate. https://www.facebook.com/groups/realestateinsights/

Do you realize being a residential housing provider is the most basic essential service? Everybody needs a place to live. And investing in residential rental properties even in these tumultuous times is still the best investment you can make. Why?...because not only is real estate investing indexed for inflation but also it can't possibly fall to zero value like oil and stocks can. If you'd like the security of investing in Rock Solid residential rental properties, then please message us. #realestateinvesting #invest #investinrealestate #realestate #safeinvestments

I'll be going LIVE on Sherilynn Milsom's Real Estate Insights & Innovation Thursday at 2 pm MST to answer your questions about Rent to Own and how it can work for you. Be sure to join me! And feel free to comment here with your questions. #realestateinvesting #creativerealestate #renttoown #leaseoption #RTO

Jam-packed with info, this free training will explain Rent to Own and how to set up a successful rent to own to either sell properties for WAY more money or set up an Active RTO investment business. In case you missed the live training, here's a link to access the replay: https://realestatewealth.sherilynn.ca/RTOtrainingReplay Also, my Rent to Own Cash Cow Formula is now available if you want to use RTO to dramatically increase your profits and cash flow. It's a deep dive into all aspects of RTO. I talk about it at the end of the training, so be sure to watch that replay.

When conducting a move-out inspection, be sure to check the tops of the drapes for bedbugs. An elderly couple moved last week from one of our suited houses, and we discovered the bugs when we removed the drapes to launder them. Now that the upstairs tenants are gone, the bugs have moved downstairs and are biting our amazing basement suite tenants. BTW, it was our choice to not renew the upstairs tenants' lease and I am thrilled at that decision, especially in light of my dis...covery. Fixed-term leases are THE way to go in Alberta. #bedbugs #moveoutinspection

The FREE Rent to Own training is still available for this weekend only! Register here and we'll email you the replay link once it is posted. https://realestatewealth.sherilynn.ca/Freetraining #renttoown #leaseoption #creativerealestate #renttopurchase

https://realestatewealth.sherilynn.ca/Freetraining Free rent to own training!

Rent to Own can dramatically increase your income and cashflow, and on Friday I'll dive deep into setting up a successful rent to own. You don't want to miss it! Here's the link to register: https://realestatewealth.sherilynn.ca/Freetraining And if you can't make it live, then register anyway because the replay will be available over the weekend. See you tomorrow!

Our highly diversified economy is one huge reason why Alberta is the safest place in the world to invest. This plus our residential tenancies act which is quite balanced and fair to both landlord and tenant Feel free to message me if you are interested in investing in Alberta real estate. #investing #realestate #AlbertaRealEstate

Click the link to register for this FREE training on setting up a successful and profitable Rent to Own! https://realestatewealth.sherilynn.ca/Freetraining

We did a few property showings today. First we ensured the prospective tenants viewed the video tours beforehand. Then for the showings I wore an n95 mask and gloves (which we already had for my husband to work on his car). Difficult to conduct a property showing and keep a 2-meter distance at all times. The prospective tenants greatly appreciated our extra measures. And an important takeaway from this is tenants are still looking for new residences

Feeling awesome. Have spent over two hours this evening helping tenants who have been wronged by unscrupulous landlords. Slumlords poison the opinions of tenants against all of us and they should be taken down. On a lighter note, my free rent-to-own training is coming up next week. So sorry for the delay but unfortunately I've been fighting a terrible cold...NOT Covid, but I have been isolating anyway. And I haven't been able to do my training because I had almost no voice. But it's back and the training is coming soon.

News about federal relief

If you need assistance, please seek it. Now is not the time to be proud.

Helpful info for our tenants

Still no details on how people can access this assistance but that will come. And feel free to use all or part of my tenant email below. I want to make it clear to tenants that rent is still expected and also ensure they know the government is there to help them if they run into difficulty paying their bills.

Here is the email copy I sent to all of our tenants: Subject: Cxxxx-19, Rent, & Toilet Paper Greetings to all of our valued tenants!... We wanted to reach out during this crisis and discuss a few important items. Could you please read this email and reply to confirm you've received it? Thanks. Obviously the Cxxxx-19 crisis and social distancing and the resulting business closures are a problem for a lot of people who are not able to work from home. We recognize this issue and we want to be sure you had heard PM Trudeau's speech the other day promising assistance so Canadians wouldn't need to worry about not being able to pay for rent and basic necessities. I have no information at this time on what measures the government is taking or how to access assistance, but let's hope for information to be released soon. Of course I know nothing about your personal situation, but I know when I once needed Employment Insurance I felt awkward even applying for it. Growing up we stood on our own two feet and never expected handouts, even when we had to do without. However THIS is not the time to be proud. As for rent, even if banks decided to forgive mortgage payments being late for the time-being, those payments would be expected at some point and the interest will continue to pile up. Plus there are a lot of other expenses. Bottom line is: we need the rent in order to pay the expenses. That being said, we will always try to accommodate our tenants in times of need. This has always been the case and always will be. So if you are worried you won't be able to pay the rent on time and in full, then please contact us as soon as possible to let us know so we can work out a plan. If we are able to devise a solution that works for both of us, then there will be no late fees or penalties. (But if you do not contact us in advance, that is a different story.) Toilet paperI cannot stress enough the only thing that should ever be flushed down a toilet is toilet paper. Even tissues should not be flushed as they are not designed to break down quickly enough and can cause clogged pipes. If you are in absolutely desperate need of toilet paper, we have a few extra rolls. (I have two teenage daughters, so a stock of TP is a requirement for life.) And if you are being a true Canadian and making do with what you have, then please remember anything other than toilet paper should be put in the trash. Showings: for any tenants moving, we will try our best to limit contact with prospective tenants, especially if you have health issues. If you have any questions or concerns, feel free to contact us. First and foremost, take care of your health. Anything else can be worked out. :)

In case you missed today's "Doomsday Prep" for Real Estate Investors...here is the link to the replay. https://youtu.be/u0H8RV0owbs This was an open Q&A / brainstorming session where we covered: ~ How to better prepare your portfolio for the Covid-19 crisis ~ Our new reality: handling vacancies, showings, and marketing... ~ Why real estate investing fundamentals are more important than ever ~ Pro landlord tips for advanced tenant screening ~ How to serve your current clients (tenants) and what to do if they don't pay Like this page to hear about upcoming training and broadcasts. (I teach Landlording as well as Creative Strategies such as Rent to Own and Agreements for Sale.)

"Doomsday Prepping" for Real Estate Investors. ;) A free, interactive brainstorming session. Bring your burning questions and top concerns and we'll work them out together. Please register in advance at this link: https://zoom.us//regist/uJwudeitqDsqzH7qds9nqFCRXsC6bIKZtA ... After registering, you will receive a confirmation email containing information about joining the meeting.

I'm so excited to share my secrets with you! How you can dramatically increase your income and cashflow and how you can sell a house for way more money. Registration will soon be open for this FREE, live webinar on March 19 at 5:30 PM MST. As soon as the registration link is live, I'll repost this. :)

So true! I'm not a realtor but I've certainly seen these code words in action.

Join the Real Estate Wealth Summit NOW! https://realestatewealth.sherilynn.ca/Summit

Day One of the Real Estate Wealth Summit is happening now! It's not too late to register: https://realestatewealth.sherilynn.ca/Summit Each day you'll receive an email with a link to that day's broadcast, to watch online at your convenience. Today's speakers cover the MASSIVE cashflow available through Residential Assisted Living and rocking your real estate goals so you can take massive action. You don't want to miss this!

In which zone are you? If you'd like to move into the Learning Zone or Growth Zone, be sure to register for this week's Free online Real Estate Wealth Summit! https://realestatewealth.sherilynn.ca/Summit (I LOVE this graphic! Thanks to R.E.I.N Real Estate Investment Network for creating it.)

Excited for the Summit tomorrow through Friday. It is an online event. The broadcasts will be available online FREE for 72 hours. Register here to receive the links and details: https://realestatewealth.sherilynn.ca/Summit

We don't show suites to people until they have answered a few simple questions about their situation (for example: "how many people will be living in the suite?"). Occasionally someone will say something like, "I'll be happy to give you that information once I know I like the place." Here is today's response: "Unfortunately if you cannot answer questions such as "how many people will be living in the suite" and "are you working," then we will not take the time to show you th...e suite. "Let's look at the worst case scenarioyou could be an unemployed family of 12 smokers with 6 large dogs. This would not be a suitable fit. "Have a great day." Perhaps too blunt for some of you, but I don't see any point in showing a suite to a family who would obviously not be a good fit. That would be a waste of both our time and theirs.

Catapult your investing to new heights...attend the FREE Real Estate Wealth Summit

My friend, Barry Friedman (marketing master and juggler extraordinaire), shares insights on marketing and entrepreneurship. Whether you are marketing a property, a product, or for money partners, his insights are PRICELESS!

The Real Estate Wealth Summit is in only eight days! You will never know what stroke of brilliance you will gain from it unless you register for this FREE online event. https://realestatewealth.sherilynn.ca/Summit

So excited the Real Estate Wealth Summit is nearly here! Join me and a host of global real estate experts as advanced investing strategies and tactics are revealed. This is a free event, and registration is limited, so reserve your seat now! https://realestatewealth.sherilynn.ca/Summit

The MANY ways to grow rich through real estate...

What is your biggest challenge when it comes to doing a Rent to Own?What is your biggest challenge when it comes to doing a Rent to Own?

Real Estate Wealth Summit 2020 coming to you in February...first interview done moments ago with Rennie Gabriel, author of "Wealth on Any Income"

What are your go-to tips for challenging tenants?What are your go-to tips for challenging tenants?