From the blog...

REAL LIFE MONOPOLY

Posted on: November 7th, 2017 by Chris Scott

Monopoly4

One of my favourite games growing up was Monopoly. I always enjoyed building my empire on the board and watching my older brothers squirm as they landed on my hotels. Early in each game, I was always broke with no money because I was buying up the property on the board. Others would try to build up cash reserves. Interestingly this strategy of going broke but having “investment properties” on the board always seemed to work. I think it is quite possible that the same can be said in real life. It is time for some people to start playing the real world game of Monopoly.

I have had the opportunity to work with some very wealthy individuals in my dealings. One thing they all seem to have in common is that they all own investment properties in Ottawa and other cities. They own them for the long-haul too. They keep them till they are paid and they can enjoy the cash flow. I did some research to find out how much high net worth people have tied up in real estate. The number is 18% of their net worth is investment real estate. These are people with over 5 million in net worth.

The best time to start is now. When you break down the concept it is surprising, not more people do it. Put down 20% of purchase price, have someone pay off the mortgage over next 25 years, enjoy the appreciation of the asset, have asset completely free and clear in the end with cash flow. Of course, there is risk and expenses and time like everything else. But it is worth it. Over the past 5 years of being a landlord on two properties, I have had to make one emergency call to a plumber. It is not that hard if you get the right property and tenants. Not many real estate markets in the world are better than Ottawa to start.

Anyways, if you want to learn more about building your portfolio I have a great book I would be happy to share with you. It is called the Millionaire real estate investor.

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

REAL LIFE MONOPOLY

Leave a Reply