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In E127 of the REI Hot Seat, Andrew Hines is joined by Jacob Campanaro and Brad McRae to break down a purpose-built sixplex investment opportunity in Hamilton, Ontario.
The building features three recently renovated units ready to rent at market rates and three legacy tenants with significantly below-market rents, offering a clear value-add play for investors.
There's also potential to add two basement units, as these were previously constructed but shut down by the city — meaning existing plumbing and electrical rough-ins could help lower renovation costs.
The team discusses the potential for mid-term furnished rentals given the building’s proximity to Juravinski Hospital, appealing to traveling nurses and healthcare workers.
Financially, the project could be executed with a BRRRR strategy, refinancing with CMHC for favorable terms and potentially recovering most invested capital within 6-9 months.
The discussion also touches on broader market sentiment, with buyers remaining active but cautious, looking for turnkey deals and solid due diligence amid economic uncertainty and U.S. tariff developments.
The hosts emphasize that seasoned investors are still buying, seeing current conditions as an opportunity to dollar-cost average and strengthen portfolios while being selective.
The episode closes with advice to join the insiders list for early access to off-market deals like this one.
Andrew's linktree : https://linktr.ee/theandrewhines
REI Hot Seat Instagram: https://www.instagram.com/reihotseat/
E127 Why Investors Are Still Buying In This Market?
00:51 — Hamilton Sixplex Overview
03:00 — BRRRR Potential & Strategy
05:30 — Property Walkthrough & Location
07:10 — Mid-Term Rental Opportunity
09:40 — Deal Numbers & Projections
13:15 — Financing & CMHC Strategy
18:10 — Renovation Budget & Challenges
21:00 — Market Hesitation & Buyer Mentality
24:00 — Long-Term Real Estate Outlook
Disclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision.
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Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively.
His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.