Manage episode 297134049 series 2791296
Guest: Kellan Paniccia, Real Estate Investor
This week’s podcast guest is Kellan Paniccia.
Kellan’s story is amazing! He started out with a duplex, living for free. He played his cards right and kept his debt service ratio in check. He mentioned that there is a myth surrounding the financing wall… if you have cash flow positive properties that can help you with approvals. That’s how he avoids equity partners and JV partners by respecting the 50% rule.
Working with RBC and Desjardins has helped him acquire 6 plexes at a residential rate. The first 10 properties he owned personally and just recently incorporated for tax purposes. Kellan also explained how to keep acquiring with no-day jobs and 10+ properties.
In this episode, you will learn about:
- Frugal living
- How to get started
- Living for free
- Achieving financial independence
- Keep the momentum going
- Started 5 years ago and now up to 52 units
- The importance of debt service ratio
Meghan Chomut CFP – www.meghanchomut.com/sarah