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Today on the podcast we talk to commercial real estate broker and investor, Jesse Fragale. We begin the episode with a quick introduction about how he got involved in the industry and he explains how, when he was still in college and renting from his friend’s father, he realized just what opportunity there is to make money from rentals. He walks us through his early journey of being reluctant to partner with somebody else, but how he eventually understood that not partnering was holding him back from making bigger deals and how he now sees the immense value of getting people on board who can help you in the areas where you not as strong. Jesse gives us averages on what you can expect to get from rentals in Canada and explains why the legislation are really tough on landlords, and then he talks about the US markets he would like to get into in time to come. For more from this inspiring young investor, be sure to tune in for today’s show!
Key Points from This Episode:
- Getting started in real estate with student rental properties.
- His lightbulb moment when he realized how lucrative rental properties could be.
- Starting with real estate in college and how his MBA has helped him to build a network.
- Realizing the need for partnerships and getting into his first one.
- How condos have replaced apartments and what rent you can expect from a $500,000 unit.
- The importance of timing and being in the right place to have good luck.
- Learning something new at every deal in the industry.
- Why it is so difficult to raise rents as a landlord in Canada.
- The problem with rent control and how the government tried to incentivize new developments.
- How Canada and the US differ in terms of holding property.
- Why he is interested in investing in the US market and the areas he is considering.
- What has been the hardest part of pivoting into apartments from where he started.
- How has improved his business and what has contributed most significantly to his success.
- And much more!
[bctt tweet=”A $500,000 condo in Toronto could probably get you about $2,000 a month in income. — Jesse Fragale” username=”Whitney_sewell”]
Links Mentioned in Today’s Episode:
Big Brothers Big Sisters (Toronto)
Jesse Fragale on Instagram
Jesse Fragale on YouTube
About Jesse Fragale
I’m Jesse Fragale – a commercial real estate broker and investor. I started investing in student rental properties a little over ten years ago. As my passion for investing grew, i began investing in single family homes and condos. Following this i transitioned to investing multi-family apartments and that is my focus today.
While I am a proud contributor to the Bigger Pockets YouTube channel, I created this channel to address particular topics in more detail. I hope to provide you with simple and straightforward real estate advice and education no matter what investing experience you have. I can’t wait to share my personal experiences and lessons (often learned the hard way) with you all.
When I’m not in front of the camera, you can find me in Toronto (yes, I’m Canadian eh), playing a few licks on guitar, enjoying the roar of a beautiful engine or spending time (read: eating) with friends and family.
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