speaking at the upcoming Canadian Real Estate Wealth Investor Forum<\/a> about why investors so often make this mistake. He\u2019ll talk about some of the key strategies for building a diversified, robust real estate portfolio by assembling the right team of experts. He\u2019ll explain, too, why real estate investing is like baseball.<\/p>\n\u201cMy favourite realtor here in the Niagara region is Sara Theroux,\u201d St-Jean says. \u201cFor anything and everything residential in the Niagara region, I call her. But if I have something in Oakville, I\u2019m not calling her. As much as I would like to give her the business, I\u2019m calling someone in Oakville\u2026In real estate investing you need to look at the end goal and then find the exact person to achieve that goal for you.\u201d<\/p>\n
St-Jean says this might seem common-sense, but he\u2019s seen a number of investors go with someone they already know and like over branching out to find a new expert, meaning that as they enter a new market or real estate sector, both they and their estate agent, lawyer, broker, or home inspector are out of their depth.<\/p>\n
This mistake is an especially high risk for investors beginning to branch out and diversify their portfolios. Many investors, St-Jean says, will turn to their first realtor, who delivered huge for them on residential investments in their home town, as they start to invest in commercial properties one town over. They do it, he says, out of a sense of loyalty, comfort, and ease. Starting a new relationship can be tough for an investor, but without it they can be left with poor advice for their new investment.<\/p>\n
That\u2019s not just limited to realtors, too. St-Jean says that investors should specialize in the lawyers and brokers they use for each and every investment, as well.<\/p>\n
\u201cThey’re making decisions with their heart, instead of making decisions with their head,\u201d St-Jean says. \u201cThey’re going with feelings instead of going with facts.\u201d<\/p>\n
It\u2019s easy to be ruled by emotion when investing, St-Jean says. Big purchases and big deals can be shaped by more of our emotions than we often think. Loss aversion bias can keep us from seeing life-changing opportunities when something carries risk. Fear of the unknown can keep us from branching out into the next boom market. Comfort with a friendly home inspector can see us investing in a money pit.<\/p>\n
\u201cYou\u2019ve got to force yourself to put your emotions aside,\u201d St-Jean says. \u201cYou have to look at the desired outcome and achieve it based on a rational equation of facts and stats.\u201d<\/p>\n
At the Canadian Real Estate Investor Forum on August 13th, St-Jean will be speaking about how investors can make their decisions rationally, how they can avoid picking the wrong specialists, and how, exactly, real estate investing is like baseball.<\/p>\n
To hear from Daniel St-Jean and other thought leaders in the real estate investment space, register for the Canadian Real Estate Wealth Investor Forum here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Daniel St-Jean has pretty much seen it all in the real estate investment industry. The co-founder of the REITE Club has been a professional investor for over a decade and an entrepreneur for more than three. In all that time he\u2019s seen investors make one core mistake over any other: they don\u2019t bring the right […]<\/p>\n","protected":false},"author":13,"featured_media":22814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8801"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8801"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8801\/revisions"}],"predecessor-version":[{"id":22813,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8801\/revisions\/22813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/22814"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}