Real Estate Investing Morning Show ( REI Investment in Canada )

"Real Estate Investing Morning Show" with Canadian investor power couple, Wayne and Gabby Hillier. We talk everything real estate. Joint Ventures, Landlording, Buying/Selling, Financing, Flipping, BRRRR, Multi-Family, Secondary Suites, Condominiums, Agreement For Sales, Rent to Own, Wholesaling. Not to mention, sharing routines and strategies that we've implemented into our lives that have helped us 10X our performance, our drive and our efficiency.

Real Estate Investing Morning Show ( REI Investment in Canada ) is a business podcast hosted by Unknown Host, with 200 episodes on record and a Required Pod Score of 80.

Unknown Host hosts Real Estate Investing Morning Show ( REI Investment in Canada ), a business show with 200 episodes published.

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  Real Estate Investing Morning Show ( REI Investment in Canada )

  Canadian Real Estate: 2% Vacancy Rates or 2% Interest Rates?

  Oct 5, 202648 minS14

  This or That: Real Estate Investing Edition Would you rather own a single-family rental or a duplex? Choose Edmonton or Calgary? Keep an excellent tenant below market rent or turn the property over to chase higher rent? Take 2% interest rates or a 2% vacancy rate? Today's Canadian Real Estate Investing Morning Show brings back a segment Wayne and Gabby haven't played in more than six months: This or That. The rules are simple. Wayne gives Gabby two choices. She has to pick one. Some answers are easy. Others open up much bigger conversations about how experienced investors actually think about risk, cash flow, tenants and market cycles. Single-Family Rental vs. Duplex Gabby's choice: single-family rental. Wayne and Gabby have increasingly emphasized investments that attract strong long-term tenant profiles and are simple to operate. More doors don't automatically create a better investment. The property still needs to make sense based on the complete investment. Long-Term vs. Short-Term Tenants Gabby chooses long-term. For their investment model, stability matters. Keeping a good tenant for years can reduce turnover, vacancy, cleaning, advertising and management headaches. That theme comes up again later in the show. Turnkey vs. Fixer-Upper Gabby chooses turnkey. Interestingly, she admits her answer might have been different 10 or 15 years ago. Where you are in your investing journey matters. An investor building capital and willing to contribute significant sweat equity may make a different decision than an experienced investor with an established portfolio who increasingly values simplicity and time. Edmonton vs. Calgary Edmonton. Edmonton vs. Red Deer Edmonton. Red Deer vs. Calgary Red Deer. Red Deer vs. Grande Prairie Red Deer. Gabby explains that markets she has personally watched experience dramatic boom-and-bust cycles make her uncomfortable. She prefers markets where she believes the economic and rental fundamentals provide greater long-term stability. Self-Manage or Hire a Property Manager? Gabby chooses self-management. Managing their own properties gives Wayne and Gabby direct knowledge of what's happening inside their portfolio, from tenant demand and applications to rents, maintenance and changing market conditions. Rent by the Room or Rent the Whole House? Whole house. Again, the decision comes back to simplicity and the tenant profile Wayne and Gabby prefer. Basement Suite or Garden Suite? Garden suite. Multi-unit garden suites have become one of Wayne's strongest current Edmonton real estate investing theses. Unlike basement suites, garden suites create additional above-grade housing on an existing property while potentially adding substantial rental income and equity. Refinance and Repeat or Pay Down the Mortgage? Gabby chooses refinance and repeat. For investors actively building a portfolio, strategically accessing equity can allow capital to be redeployed into additional investments rather than remaining trapped inside one property. That doesn't mean refinancing blindly. The resulting investment still has to remain financially sustainable. Student Rental or Family Rental? Family rental. Wayne and Gabby consistently favour strong, stable tenant profiles and properties people can comfortably call home for longer periods. Great Tenant Below Market Rent or Turnover for Higher Rent? Gabby chooses the stable tenant. That's an important answer. Maximum rent doesn't necessarily equal maximum profit. Turning over a good tenant can create vacancy, cleaning costs, advertising expenses and uncertainty about the next tenant. If the property still produces strong cash flow, keeping an excellent long-term tenant slightly below market rent can be financially worthwhile. Newer Property or Older Property With Value-Add Potential? Gabby chooses the newer, lower-maintenance property. Again, she acknowledges this answer reflects where she is today. Earlier in an investor's journey, creating equity through renovations can be extremely valuable. Later, simplicity and reduced maintenance can become increasingly attractive. Partner or Invest Solo? Solo, if the investor has the resources. Partnerships can provide capital, financing and expertise that make deals possible. But if all the necessary resources are already available, Gabby would rather maintain control and ownership herself. Fix and Flip or BRRRR? Neither was Gabby's preferred answer. Forced to choose, she picks the flip. Wayne and Gabby have used both strategies, but market conditions matter. A strategy that worked extremely well during one market cycle doesn't automatically remain attractive forever. $50,000 Renovation or Another Down Payment? Gabby chooses another property. If $50,000 can either be invested into renovations or used as the down payment on another strong cash-flowing asset, she'd rather expand the portfolio. And then Wayne brings out the hardest question of the morning. 2% Interest Rates or 2% Vacancy? Gabby chooses 2% interest rates . That answer splits the room. Her initial reasoning is straightforward: apply 2% financing to their existing portfolio and the reduction in mortgage expenses would dramatically increase cash flow. But a 2% vacancy rate has enormous advantages too. Low vacancy means rental supply is tight. Properties can be easier to fill, landlords may receive more applications, tenant selection can improve and upward pressure on rents can increase revenue. So which one is actually better? Wayne works through the economics. On one side, lower interest rates reduce financing costs. On the other, lower vacancy can reduce turnover losses and increase rental income. There isn't a universal answer. Why Wayne Would Take 2% Interest Rates Too After exploring both sides, Wayne ultimately leans toward 2% interest rates as well. His reasoning goes beyond lower mortgage payments. Vacancy rates are cyclical. Rental markets move between periods of undersupply and oversupply. Wayne expects those cycles and builds his portfolio to survive them. Interest rates are different. They're significantly more difficult to predict. An unusually low interest-rate environment can therefore create a temporary opportunity that investors may not see again for decades. Wayne remembers coaching investors when mortgage rates were around 2% and telling them how unusual the opportunity was. Some continued waiting because they assumed those conditions would last. They didn't. Years later, some of those same investors were finally ready to buy but now felt interest rates were too high. There was always another reason to wait. Low Interest Rates Create More Than Cash Flow Cheap financing can also stimulate the housing market. More buyers qualify. Competition increases. Property values can rise. For an investor who already owns real estate, that can create opportunities to refinance, sell, reposition assets or strategically access equity. Wayne compares it to temporary star power in Mario. You know it isn't going to last forever, so you take advantage while it's there. The Market Wayne Actually Prefers Despite the debate, Wayne and Gabby ultimately agree that neither extreme is necessarily ideal. They miss boring. Moderate interest rates. Moderate vacancy. Sustainable rent growth. Gradual appreciation. Wayne would happily take a market producing steady appreciation of roughly 3% per year without the dramatic swings Canada has experienced in recent years. Boring can be incredibly profitable when your investing horizon is measured in decades. What Edmonton Investors Should Do Now Edmonton's market isn't as simple as it once was. Wayne argues that investors can't simply buy almost anything and expect it to work. You need to understand the specific market, property type, tenant profile and supply-demand dynamics. At the same time, he sees opportunity in current conditions. If listings rise and sales soften heading into winter, that can create better purchasing opportunities for investors willing to act while other buyers hesitate. The point isn't to ignore what's happening in the market. It's to understand it and respond appropriately. The 5% Rule Rental markets will change. Vacancy will rise and fall. Interest rates will change. Rents will fluctuate. Those cycles are inevitable. That's why Wayne believes investors need enough cash flow from day one to withstand the periods when conditions aren't ideal. The 5% Rule™: (Annual Cash Flow ÷ Down Payment) × 100 5–6% = sufficient 7–9% = strong 10%+ = excellent Search "The 5% Rule by Wayne Hillier" on Amazon. Canadian Real Estate Investing Morning Show Hosted by Wayne Hillier and Gabby Hillier. Live every weekday at 7:00 AM Mountain Time from Edmonton, Alberta. Sponsors Calvin Realty – Edmonton Investor-Focused Realtor Team www.calvinrealty.ca Finngo Bookkeeping & Tax Specialized bookkeeping and tax services for Canadian real estate investors. www.finngo.com/rei Kirkwood & Brennan Mortgage Group Investor-focused mortgage planning for Canadian real estate investors. www.kbmortgages.ca keaton@kbmortgages.ca

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  Real Estate Investing Morning Show ( REI Investment in Canada )

  Real Deals. Real Numbers. What Canadian Real Estate Investing Can Actually Look Like

  Oct 2, 20261h 17mS14

  Real Deals. Real Numbers. What Canadian Real Estate Investing Can Actually Look Like There's no shortage of hypothetical real estate investing content. Buy this property. Renovate it. Refinance it. It could appreciate. You could make this much money. Today's episode is different. Wayne and Gabby open up the books and share real examples from their own portfolio and from REI Masters students who have actually completed these deals. Some produced huge short-term profits. Others created equity. Some generate hundreds of dollars every month in cash flow. Others were acquired with virtually none of the investor's own money. But they all illustrate the same principle: look for upside while building the investment so it can succeed without depending on that upside. Risk Before Return Wayne explains that the goal isn't simply to find the investment with the largest theoretical return. The question is: How much return can we generate while controlling as much of the downside as possible? Appreciation isn't controllable. Market conditions aren't controllable. Buyers aren't controllable. What investors can control is what they buy, the price they pay, the cash flow they require, their financing and the systems surrounding the investment. That's why an investment generating a steady 20% or 25% return without requiring appreciation can sometimes be more attractive than a deal promising enormous upside while exposing the investor to considerably more risk. A $10,000 Assignment in Less Than Two Weeks REI Masters students Kyla and Fabian built an off-market lead-generation system to find properties directly from sellers. A recent opportunity came through their system that initially looked like a potential renovation project. Instead of completing the entire project themselves, they assigned the opportunity to another buyer and earned approximately $10,000 . From receiving the lead to completing the assignment, the process took less than two weeks. It's an example of what happens when the difficult work of building a system has already been completed. Once the lead-generation machine exists, individual opportunities can be evaluated and monetized in different ways. Building a Wholesaling Business Wayne and Gabby also discuss longtime REI Masters student Matt and the growth of his wholesaling business. The bigger lesson isn't simply the number of transactions. It's what can happen when someone learns a strategy, develops the systems around it and consistently executes over several years. Wayne also stresses the importance of ethics in wholesaling. Making an assignment fee isn't enough. Reputation, integrity and making sure buyers understand what they're purchasing matter. An $80,000 Edmonton Fix and Flip Samuel completed an Edmonton fix and flip that generated approximately $80,000 . Wayne uses the deal to make an important distinction. Fix and flips can produce significant profits, but they're also one of the strategies Wayne considers higher risk because the investor ultimately needs someone else to purchase the finished product. The deal worked because Samuel bought appropriately, created a strong finished product and successfully exited the investment. The profit was real. So was the risk. The $125,000 Edmonton Townhouse One of the strongest examples comes from 2022. REI Masters students Annette and Bradley purchased a West Edmonton townhouse for approximately $125,000 . They renovated it, refinanced it and recovered almost all of the capital they had invested. After the refinance, Wayne estimates they had created approximately $40,000 in equity. Today, Wayne estimates the property is worth more than $250,000 and generates approximately $600 per month in cash flow . The important detail is timing. That opportunity existed in that particular market cycle. Buying the same type of property today at today's price wouldn't necessarily produce the same result. Strategies have to change when markets change. A Leduc House That Gained $75,000 In 2024, Wally purchased a single-family home in Leduc for approximately $325,000 . Wayne had originally planned to purchase the property himself before his joint-venture partner backed out. Wally moved quickly. Two years later, Wayne estimates the property is worth approximately $400,000 , representing roughly $75,000 in appreciation. It also generates more than $500 per month in cash flow . The appreciation is fantastic, but that's not why the property worked. It was purchased because the numbers worked without appreciation. The Slow BRRRR Amanda's Red Deer property demonstrates another version of the BRRRR strategy. She purchased a suited property in what Wayne considered an undervalued market and initially house-hacked it. Instead of forcing appreciation through a major renovation, she simply held the property while its value increased. Within approximately two years, she refinanced it and recovered all of her original capital and more. Today, Gabby says the property generates approximately $665 per month in cash flow . Sometimes the best strategy is simply buying the right property and giving it time. Six Properties in the First Year Dennis and Andrea started as new investors and have now purchased six rental properties during their first year. According to Wayne and Gabby, those properties collectively generate more than $2,800 per month in cash flow . Josh has purchased three properties during the past year producing more than $1,500 per month in combined cash flow . Chung purchased three cash-flowing rental properties this year while simultaneously operating a business and raising a family. Different investors. Different circumstances. The common denominator is buying properties where the economics work today rather than requiring future appreciation to rescue the investment. Two Edmonton Townhouses Jazz and Rupinder joined REI Masters in January 2026 and have since purchased two Edmonton rental properties. Their first was a South Edmonton townhouse purchased below asking price. They used Purchase Plus Improvements to finance renovations into the mortgage, created significant equity and ended with a property generating approximately $500 per month in cash flow. Their second townhouse was purchased for approximately $160,000. After relatively minor improvements, Wayne expects it to generate more than $700 per month in cash flow . Wayne and Gabby's Long-Term Deals Wayne also shares several investments from his own portfolio. One house purchased in 2017 for approximately $250,000 is now worth approximately $400,000 and generates roughly $1,000 per month in cash flow . Importantly, the property barely appreciated for years. It continued producing returns anyway. That's exactly the point. Another investment was refinanced after approximately one year, allowing Wayne and Gabby to recover their original investment plus approximately $25,000 . Because the property didn't cash flow well enough after refinancing, they didn't simply keep it and accept the negative economics. Instead, Wayne structured seller financing for another buyer. That buyer has paid Wayne approximately $500 per month since 2018 , with several years still remaining on the arrangement. $200,000 From a Zero-Down Property Another property was purchased roughly a decade ago using seller financing. The seller financed the entire transaction, allowing Wayne and Gabby to acquire the property without putting their own capital into the purchase. Wayne estimates the investment has generated more than $200,000 over approximately 10 years while continuing to produce cash flow. It's one of the examples that shaped Wayne's belief in mastering creative financing strategies early in an investor's career. The Opportunity Wayne Is Pursuing Today Markets change. The $125,000 Edmonton townhouse opportunity from 2022 doesn't exist in exactly the same form today. That's why investors have to understand what is working now . One of Wayne's biggest current investment theses is multi-unit garden suites. Wayne and Gabby purchased an Edmonton property for approximately $400,000 and are building a four-unit garden suite in the backyard. Wayne estimates the construction will cost approximately $650,000 , with the completed property expected to be worth approximately $1.3 million . That would create approximately $250,000 in equity through the development strategy. This isn't a hypothetical strategy Wayne is discussing from the sidelines. It's one he's actively executing. The Bigger Lesson The purpose of today's episode isn't to suggest every investor should wholesale, flip houses, BRRRR properties, use seller financing or build garden suites. Different strategies work during different market cycles. The real skill is understanding why an investment works. Buy properties that produce returns today. Look for opportunities with additional upside. Don't depend on appreciation. Control the risks you can control. And give good investments enough time to work. REI Masters Mentorship Special The current REI Masters promotion ends October 3, 2026 . Join before the deadline and receive 24 months of mentorship for the price of 12 , including coaching from Wayne and Gabby, courses, resources, contracts, deal analysis and ongoing support. New members also receive entry to the REI Masters Retreat in Edmonton, October 16–17, 2026 . www.reimasters.ca Sponsors Calvin Realty – Edmonton Investor-Focused Realtor Team www.calvinrealty.ca Finngo Bookkeeping & Tax www.finngo.com/rei Kirkwood & Brennan Mortgage Group www.kbmortgages.ca keaton@kbmortgages.ca

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  Real Estate Investing Morning Show ( REI Investment in Canada )

  Our Tenant Can't Pay Rent on Time. Here's What We're Doing.

  Oct 1, 202656 minS14

  Our Tenant Can't Pay Rent on Time. Here's What We're Doing. It's October 1st. Rent is due. A few days before rent day, one of Wayne and Gabby's tenants sent an email explaining that she wouldn't have enough money to pay her full October rent. She's temporarily receiving Employment Insurance because of a health-related issue and is waiting for her first payment. She has approximately half of the rent available now and offered to send it immediately, with the remainder coming once her EI payment arrives. So what should a landlord do? Today's episode walks through the situation in real time, including Gabby's decision to work with the tenant, Wayne's concerns about the risks involved, and the systems landlords can use to prevent one late payment from becoming several months of unpaid rent. Late Rent Doesn't Automatically Mean a Bad Tenant This tenant has been late previously, which is an obvious warning sign. But there's another side to the story. In both situations, she communicated with Wayne and Gabby before the rent was due. She explained what was happening, took responsibility for the situation and was willing to accept the consequences associated with paying late. That communication matters. Wayne and Gabby explain that tenant history, communication and character can provide important context when deciding how to respond. The numbers may identify risk, but you're still dealing with people, and sometimes legitimate circumstances prevent otherwise responsible people from meeting an obligation exactly when expected. That doesn't mean landlords should ignore the risk. The Real Danger of Falling Behind The biggest concern isn't necessarily the missing $800 today. It's what happens next. If someone normally lives relatively close to their monthly budget and falls $800 behind, where does that $800 eventually come from? If the tenant uses their next paycheque to catch up on October, they have less money available to prepare for November. Then an unexpected car repair, illness or another expense can push them further behind. One late payment can become a cycle. That's why Gabby doesn't want to allow an open-ended arrangement where the tenant simply pays whenever she's able. Gabby's Decision Based on the tenant's previous communication and history, Gabby decided to accept the proposed arrangement. But she also established an expectation. The tenant needed to confirm that the delayed October payment wouldn't affect November's rent and that she had a plan to prevent this from becoming an ongoing cycle. The tenant confirmed that she did. That doesn't guarantee everything will work out. Gabby is consciously accepting additional risk based on the information and experience she has with this particular tenant. If the promised money doesn't arrive within the timeframe discussed, however, Gabby doesn't intend to continue extending the arrangement indefinitely. Put Everything in Writing One of the most important lessons from today's episode is documentation. Wayne and Gabby conduct their tenant communication through email, which means there's already a written record showing what was proposed, what was agreed to and what expectations were established. If you're making arrangements verbally, Gabby recommends putting the agreement in writing. If the situation eventually requires formal action, documentation becomes extremely important. Compassion Doesn't Mean Ignoring the Business Wayne makes an important distinction during the conversation. This isn't about whether the tenant is a good person. By all accounts, she's a lovely person with a good family, and Wayne and Gabby genuinely want the situation to work out. But a landlord still has contractual obligations, operating expenses and, in some cases, investment partners whose capital must be protected. The decision therefore has to consider the facts rather than being based entirely on emotion. You can care about someone's circumstances while still protecting your business. Why Wayne Doesn't Like Long Payment Plans A viewer suggested spreading the missing $800 over several months. Wayne explains why he generally doesn't favour that approach. Today, the exposure is approximately $800. If the arrangement continues and another full rent payment is missed, that exposure becomes substantially larger. Meanwhile, the landlord could also face vacancy, turnover, cleaning and other expenses if the tenancy eventually ends. The longer the problem continues, the greater the potential loss. Wayne would rather see a clear plan explaining exactly where the missing money is coming from and when it will be paid than continually extend the balance into future months. There Is No "Three Strikes" Rule Wayne and Gabby don't use a fixed three-strikes policy. Their question is simpler: Is there still a credible path to getting the tenancy back on track? A tenant who communicates, provides a clear explanation and follows through may receive flexibility. A tenant who repeatedly fails to follow through without a credible solution may require a much faster response. The decision is based on whether Wayne and Gabby can see a realistic solution, not an arbitrary number of previous late payments. Systems Create Confidence Early in their investing career, a late rent payment could create significant anxiety. Today, Gabby treats it as something that needs to be managed. The difference is having a system. Knowing what happens next, documenting communication, understanding the landlord-tenant process and establishing clear boundaries removes much of the uncertainty. That allows landlords to respond logically instead of emotionally. REI Masters Mentorship Special The current REI Masters offer ends October 3, 2026 . Join before the deadline and receive 24 months of mentorship for the price of 12 , including access to Wayne and Gabby, coaching, courses, resources, contracts, deal analysis and support. New members also receive entry to the REI Masters Retreat in Edmonton on October 16–17, 2026 . www.reimasters.ca Canadian Real Estate Investing Morning Show Hosted by Wayne Hillier and Gabby Hillier. Live every weekday at 7:00 AM Mountain Time from Edmonton, Alberta. Sponsors Calvin Realty – Edmonton Investor-Focused Realtor Team www.calvinrealty.ca Finngo Bookkeeping & Tax Specialized bookkeeping and tax services for Canadian real estate investors. www.finngo.com/rei Kirkwood & Brennan Mortgage Group Investor-focused mortgage planning for Canadian real estate investors. www.kbmortgages.ca keaton@kbmortgages.ca

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  Real Estate Investing Morning Show ( REI Investment in Canada )

  Edmonton Basement Floods - Tenants Are Complaining About Lingering Smells

  Sep 30, 202644 minS14

  Your Basement Flooded. The Water Is Gone. But What If It Still Smells? Edmonton's unusually wet summer created serious problems for homeowners, landlords and tenants. Basements flooded, roofs leaked, restoration companies became overwhelmed, and months later some property owners are still trying to put their homes back together. Today's episode starts with a detailed question from an Edmonton real estate investor whose basement suites flooded during the summer. The restoration company removed drywall and flooring, dried the basement and reported that mold or mildew remediation wasn't required. But there's one problem: the tenant still detects an odor they believe smells like mold or mildew. What do you do before rebuilding everything? Wayne and Gabby's Experience With Flooded Properties This wasn't a hypothetical situation for Wayne and Gabby. Their portfolio experienced more than $100,000 in expenses related to this summer's rain and flooding. Some properties had relatively minor problems, while others required substantial work. One property remains vacant while they work through multiple sources of water intrusion and prepare to complete the renovation. Wayne explains why this year reinforced one of their biggest investing principles: cash flow isn't spending money. They keep the cash flow generated by their portfolio in reserves so that unexpected events don't force them to borrow money, sell properties or scramble for capital. The flood was expensive. But because they were prepared for an unexpected event, it didn't threaten the portfolio. Can a Basement Still Smell After Remediation? Wayne and Gabby have noticed lingering smells during some restoration projects. Their experience, however, has been that those smells disappeared once the renovation was fully completed. Wayne compares it to renovating extremely distressed properties. Cigarette smoke, animal odors and other smells can seem impossible to eliminate when you first enter a property. After proper cleaning, new flooring, paint, baseboards and other improvements, the finished property can smell completely different. That doesn't mean a property owner should assume an odor is harmless. The first priority is determining whether the remediation was completed correctly. What Should You Verify With the Restoration Company? Gabby suggests confirming exactly what the remediation company did. Was damaged material removed? Was disinfectant applied? Was proper drying equipment used? Were moisture levels checked before reconstruction was approved? Those are important questions because the goal isn't simply to hide an odor. It's to make sure the property has actually been properly remediated before rebuilding it. Should You Get a Second Opinion? One of the most practical suggestions from today's conversation is to bring in another restoration professional if you aren't confident in the first company's assessment. There are two different perspectives in this particular situation. The tenant believes they smell something. The restoration company says the property is ready. Gabby's suggestion is to introduce an independent third perspective. That could mean the landlord inspecting the property personally or asking another qualified restoration company to assess the work and provide a second opinion before the walls and flooring go back in. Wayne and Gabby agree that cutting corners doesn't make sense. Tearing a finished basement apart again because something was missed would be far more disruptive and expensive. Flooding Is a Landlord Responsibility Wayne also discusses something they saw repeatedly in Edmonton this summer: tenants looking for new rentals because their existing landlords hadn't properly repaired flooded basements. Removing standing water isn't the end of the job. A landlord has a responsibility to properly address water damage and make sure the property is safe before putting everything back together. Wayne emphasizes that the investor who submitted today's question appears to be taking that responsibility seriously. The fact that they're considering an independent environmental assessment demonstrates how seriously they're approaching the problem. The Bigger Investing Lesson: Build Your Reserves Flooding is also a reminder that owning rental property means dealing with expenses you can't predict. Wayne and Gabby's philosophy is to avoid spending the cash flow produced by their properties, particularly during the early years of ownership. Instead, cash flow builds reserves. A portfolio that looks fantastic on paper but doesn't have enough money available to handle a major repair is vulnerable. That's one reason Wayne uses the 5% Rule™ when evaluating properties: (Annual Cash Flow ÷ Down Payment) × 100 5–6% = sufficient 7–9% = strong 10%+ = excellent Cash flow creates the cushion that helps an investor survive the things nobody included in the original spreadsheet. Rapid-Fire: Edmonton's Rental Market The episode finishes with several investor questions. Wayne describes Edmonton's current rental market as highly competitive, with considerable rental supply giving tenants more choices. His expectation is that landlords will need to compete harder for strong tenants and that some rents may soften. At the same time, Wayne says he's currently achieving some of the strongest investment returns of his career. His distinction is important: a difficult rental market doesn't necessarily mean a bad acquisition market. Investors need to buy the right property and become much better at marketing and operating their rentals. How Should Someone Learn Real Estate Investing? Wayne's answer is education before acquisition. Understand how to choose a market, analyze a property and operate the investment before committing your savings or someone else's capital. The Canadian Real Estate Investing Morning Show provides free education and coaching every weekday morning at 7:00 AM Mountain Time. How Do You Buy More Properties When You've Run Out of Money? Wayne's rapid-fire answer: seller financing. Seller financing, including Agreements for Sale, played a major role in Wayne and Gabby's early portfolio growth. Rather than relying entirely on their own down payments or conventional financing, they learned how to structure transactions where the seller provided financing. It's one of Wayne's favourite strategies for experienced investors who understand how to buy and operate rental properties but have exhausted their available capital. REI Masters Mentorship Special Join the REI Masters Mentorship Program by October 3, 2026 and receive 24 months of mentorship for the price of 12 . New members also receive entry to the REI Masters Retreat in Edmonton on October 16–17, 2026 . www.reimasters.ca Canadian Real Estate Investing Morning Show Hosted by Wayne Hillier and Gabby Hillier. Live every weekday at 7:00 AM Mountain Time from Edmonton, Alberta. Sponsors Calvin Realty – Edmonton Investor-Focused Realtor Team www.calvinrealty.ca Finngo Bookkeeping & Tax Specialized bookkeeping and tax services for Canadian real estate investors. www.finngo.com/rei Kirkwood & Brennan Mortgage Group Investor-focused mortgage planning for Canadian real estate investors. www.kbmortgages.ca keaton@kbmortgages.ca

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  Real Estate Investing Morning Show ( REI Investment in Canada )

  Canadian Property Taxes: What Real Estate Investors Are Missing

  Sep 29, 20261h 5mS14

  Canadian Property Taxes: What Real Estate Investors Are Missing Property taxes might not be the most exciting part of real estate investing, but they can completely change the performance of a rental property. In today's episode of the Canadian Real Estate Investing Morning Show, Wayne and Gabby compare residential property taxes across 20 major Canadian cities and show just how dramatically the numbers can change from one market to another. Using the same $500,000 assessed property value in every market allows for an apples-to-apples comparison. The difference between the lowest and highest cities in the comparison works out to thousands of dollars per year and hundreds of dollars every month. For a real estate investor, that's cash flow. How Property Taxes Actually Work Property taxes aren't structured exactly the same way across Canada. Depending on the province and municipality, your bill can include municipal taxes, provincial education taxes, regional authorities, transit, fire protection, waste collection, school taxes and other local levies. The terminology and assessment systems can also differ between provinces. The important lesson for investors is that looking at a property's purchase price isn't enough. You need to understand the actual assessed value, applicable tax rates and any additional charges specific to that municipality. Why Assessed Value Matters Property taxes are generally calculated using the municipality's assessed value of the property, which isn't necessarily the same as the purchase price or current market value. That distinction becomes especially important when buying a recently renovated property, adding a legal secondary suite, building a garage or completing another improvement that could increase the assessed value. If the municipality hasn't yet incorporated those improvements into the assessment, the existing tax bill may not accurately represent what you'll eventually pay. Vancouver Has the Lowest Rate in the Comparison One of the biggest surprises in today's episode is Vancouver. Using the rates discussed on the show, Vancouver had the lowest combined percentage among the 20 cities compared. On the standardized $500,000 assessed property used throughout the episode, the approximate annual property tax was $1,682, or about $140 per month. Surrey, Kelowna and Victoria were also near the low end of the comparison. Wayne discusses an important reason why percentage rates alone can be misleading. Markets with very high property values can use lower percentage rates while still generating substantial tax revenue because those percentages are being applied against much larger assessed values. Edmonton vs. Calgary Property Taxes The Edmonton-Calgary comparison was particularly interesting. Using the same $500,000 assessed property: Calgary: approximately $3,325/year Edmonton: approximately $5,182/year Difference: approximately $1,857/year That's roughly $155 per month in additional expenses for the Edmonton example. But Wayne stresses that this doesn't automatically make Calgary a better real estate investment. Purchase price, achievable rent, insurance, utilities, cash flow, tenant profile and other operating expenses all have to be considered together. A lower property-tax rate can't compensate for an investment that doesn't otherwise produce the returns you're looking for. Windsor Had the Highest Rate in the Comparison At the other end of the list was Windsor. Using the figures discussed during the episode, a $500,000 assessed property produced an estimated annual property-tax bill of approximately $10,483, or about $873 per month. Compare that with approximately $1,682 annually in Vancouver. That's a difference of roughly $8,801 per year , or about $733 every month . For a rental-property investor, an expense difference of that magnitude can completely change the economics of a deal. Why You Can't Just Compare Mill Rates This episode isn't intended to suggest that investors can simply take a city's headline tax percentage, multiply it by a purchase price and call it done. Assessment systems aren't standardized across Canada. Different jurisdictions can have separate school taxes, regional levies, parcel taxes, waste charges, borough-specific taxes and other fees. Properties can also fall into different classifications. That's why investors need to research the actual property they're considering. Wayne's 5-Step Property Tax Due-Diligence Process When analyzing a new rental property or unfamiliar market: Get the property's actual previous tax bill. Don't rely exclusively on an MLS listing or what the seller tells you. Determine whether the current assessment reflects recent renovations, additions, secondary suites or new construction. Look for separate charges including school taxes, regional levies, parcel taxes, waste fees, stormwater charges and local improvement charges. Verify the property's tax classification and whether your planned use or renovations could change it. Stress test the deal. Don't assume today's property-tax bill will remain unchanged for the next 10 or 20 years. Property Taxes and the 5% Rule This is another reason Wayne emphasizes cash flow. A property that barely works using today's expenses can quickly become a bad investment when property taxes, insurance, maintenance or other costs increase. The 5% Rule™ cash flow test is: (Annual Cash Flow ÷ Down Payment) × 100 5–6% = sufficient 7–9% = strong 10%+ = excellent Cash flow isn't simply money to spend. It's part of the financial buffer that allows an investor to absorb unexpected changes while continuing to hold the property for the long term. Search "The 5% Rule by Wayne Hillier" on Amazon to learn more. REI Masters Mentorship Special Through October 3, 2026, anyone who joins the REI Masters Mentorship Program receives 24 months of mentorship for the price of 12 . New members will also be able to attend the upcoming REI Masters Retreat in Edmonton on October 16–17, 2026 . Learn more: www.reimasters.ca Canadian Real Estate Investing Morning Show Hosted by Wayne Hillier and Gabby Hillier. Live every weekday at 7:00 AM Mountain Time from Edmonton, Alberta. Sponsors Calvin Realty – Edmonton Investor-Focused Realtor Team www.calvinrealty.ca Finngo Bookkeeping & Tax Specialized bookkeeping and tax services for Canadian real estate investors. www.finngo.com/rei Kirkwood & Brennan Mortgage Group Investor-focused mortgage planning for Canadian real estate investors. www.kbmortgages.ca keaton@kbmortgages.ca

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Recent guests on Real Estate Investing Morning Show ( REI Investment in Canada ). Study who booked and why before you pitch.

Based on semantic analysis of episode topics and host coverage, this show is a strong guest fit for executives in:

Industry fit is computed by PitchCentric using vector embeddings of the show's episode catalog.