Beginner's Guide to Becoming A Landlord in Ontario with Andrew Choubeta

Black Wealth Effect

Navigating the landlord/tenant relationship can be a struggle. And that is made even more challenging by outside forces. And being a landlord is not easy, especially when dealing with issues that test your patience and even your finances. The wrong tenant can cost you a lot of time, money, and effort.

To avoid this, we need to set things right from the start. Knowing your rights and responsibilities as well as those of your tenants will set you up for success. You will also know how to protect yourself in the everyday affairs of the business without solely relying on legal representation.

In this episode, Andrew Choubeta shares essential tips and insights about tenant/landlord dynamics, so you know your rights, responsibilities, and how to protect yourself. In addition, he shares investment strategies he uses to invest in Canada and abroad.

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What you will learn from this episode:

• Find out tenant issues landlords mainly deal with and understand how to avoid those from happening.
• Learn what you can do at the start to set things right and put systems and processes to help you navigate tenant/landlord concerns.
• Know whom to get on board your team to help you with tenant disputes and issues.

Andrew Choubeta is a paralegal that cares about landlords and their investments. Servicing all of Ontario, Andrew and his colleagues at Caveat LLP have a combined decade of experience dealing with investor-focused Landlord and Tenant issues. As an investor himself, Andrew has a results-driven approach to legal practice.

Connect with Andrew Choubeta:

• Website: www.caveatllp.com
• Facebook: https://www.facebook.com/Caveatllp/
• Email: [e-mail]
• Phone: [phone]

Topics Covered:

02:42 - How he quadrupled his first real estate investment and went on to invest overseas soon after 04:52 - Properties he invests in in Africa and what the numbers look like 07:52 - What made him invest in his ancestral country? 08:41 - How he found himself in the legal profession and what made him love the job 11:27 - Tenant issues he had to deal with 14:30 - Important aspects of landlord-tenant dynamics you should be conscious about 17:14 - Due diligence is paramount [what you can do right at the start ] 19:47 - What is cash-for-keys, and what should you be aware of if you pursue that strategy? 22:12 - What the process looks like, and how long it takes to get tenants out of the units 25:02 - Valuable resources available for research and tenant screening [plus essential tip to be knowledgeable about regarding landlord-tenant issues] 28:32 -Seeing a hard reality of how landlord-tenant relationship develops years from now and how you can prepare for that 30:25 - Why you need a lawyer or paralegal to get on the team with you 31:13 - What's in Andrew's immediate plans where real estate is concerned

Key Takeaways:

"Running like a business is important. And even if you have one, it doesn't matter what it is, if it's one unit, two units, or 300. It's business, and you have to make sure your ROI is there." - Andrew Choubeta

"You can't be a good landlord without knowing how to protect yourself. And support how to do that and the rights of your tenants and rights of yourself as well in keeping within those rights." - Andrew Choubeta

"I read the fine print. The principles are all pretty simple. You can spend 10 or 15 hours on the subject and get very knowledgeable very quickly, enough to handle the day-to-day question from a tenant or issue that you may be dealing with." - Andrew Choubeta

Connect with Mario Griffiths:

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• LinkedIn: https://www.linkedin.com/in/mario-griffiths

Connect with Ron Christopher:

• Instagram https://www.instagram.com/ron.investor/