When I first started planning to produce a podcast, I had targeted Pierre-Paul Turgeon because he is a tremendous educator and his experience and background is like no other apartment building investor that I know. I first saw Pierre speak at the real estate investment network many years ago while he still worked at CMHC, who insures mortgages on apartment buildings, and I am in awe of how he left his cushy government job and has grown his portfolio to 160 doors valued in excess of $22 million dollars. Pierre is a busy guy so we’re really lucky to have him on the show as he’s in the middle of acquiring more buildings thanks to the several millions of dollars of capital he has attracted.
Something of note since the interview – Pierre mentioned he has more than usual vacancies due to the down turn of oil prices and, since this interview, Fort McMurray has been decimated by forest fires. So, what does a super awesome guy like Pierre-Paul do? He’s offering his apartments to displaced families for at least the next two months for FREE. That’s worth thousands and thousands of dollars so next time you hear someone ragging on greedy landlords, remember there are great people out there like Pierre-Paul.
In this episode, we discuss:
- Pierre-Paul’s work experience at CMHC – Canadian Mortgage Housing Corporation
- Alberta’s downtown and planning for down turns
- Being unhappy at work, planning to leave the J-O-B and transitioning into becoming a full time investor
- The plan to leave the J-O-B
- The various risks factors when investing: utilities, market, valuation, borrower, building risks
- Lessons for novices
- The importance of confidence
- Going above and beyond to ensure minimal vacancy
- Tips on how to source deals on apartment buildings
- When Pierre-Paul feels oil prices will go back up
Podcast available here, make sure to subscribe so you don’t miss an episode:
On itunes: https://itunes.apple.com/ca/podcast/truth-about-real-estate-investing…/id1100488294
On Stitcher: http://www.stitcher.com/s?fid=87335&refid=stpr
Download as an MP3 by right-clicking here and choosing “save as”
If you would like Pierre-Paul’s free ebook, head to his website: http://www.multifamilyblueprint.com/ and sign up!! For those who do sign up, you will also receive notification of when Pierre is offering his training course and if you are serious about being a professional on the level of Pierre, I recommend that you do.
Check out the success of our mutual friend Kevin Gatchalian, Hamilton investor and now Edmonton apartment building owner thanks to Pierre Paul’s help: http://blog.reincanada.com/2015-multi-family-investor-of-the-year