In this episode of the addy podcast, co-founder Stephen Jagger sits down with Griffin Milks, a YouTuber-turned-real estate investor and developer, to discuss his inspiring journey, the lessons learned along the way, and his unique approach to building a real estate portfolio in Canada.
A YouTuber’s Leap into Real Estate
Griffin began his career creating finance-focused YouTube videos, gaining traction with topics like stock market investing and personal finance. But his interests evolved, leading him to pursue real estate—a space where he found not just wealth-building opportunities but also a passion for hands-on projects and long-term growth.
Scaling to 30 Units and Counting
From purchasing his first duplex in his early 20s to managing 30 units today, Griffin walks listeners through his strategic growth. Partnering with a close collaborator, Griffin focuses on properties in Gatineau, leveraging the area’s affordability compared to nearby Ottawa. He explains how understanding local markets has been pivotal to his success.
Adding Value: The Power of Unit Expansion
Griffin shares his business model of purchasing properties with potential for unit expansion. By converting triplexes into fiveplexes, he qualifies for commercial financing—a game-changer that allows for better loan terms and scaling opportunities. This approach combines calculated risks with a clear, long-term vision.
Lessons Learned the Hard Way
Every real estate investor faces challenges, and Griffin doesn’t shy away from discussing his mistakes. From underestimating permitting timelines to navigating municipal regulations, he highlights the importance of due diligence and learning from setbacks. These lessons have become cornerstones of his evolving strategy.
A Strategic Approach to Financing
Griffin dives into the nuances of real estate financing, emphasizing the benefits of starting with personal loans and transitioning to commercial financing as projects stabilize. His insights on working with CMHC loans, amortization periods, and property refinancing offer invaluable tips for aspiring investors.
Building a Real Estate Business, Not Just Investing
Griffin explains the distinction between being a real estate investor and running a real estate business. His focus is on building systems, outsourcing property management, and reinvesting profits for long-term wealth creation. This approach ensures scalability and minimizes day-to-day operational headaches.
Key Takeaways
- Real Estate in Gatineau: The benefits of focusing on a specific, affordable market with growth potential.
- Value-Add Strategy: How expanding units increases property value and improves financing options.
- Lessons from Mistakes: The importance of due diligence, from zoning to municipal infrastructure.
- Business-Minded Approach: Treating real estate as a business, not just an investment.
Learn More About Griffin Milks
Follow Griffin on YouTube at Griffin Milks for in-depth content on his projects, real estate strategies, and lessons learned.
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