Starting in real estate is exciting-until you realize how many unknowns you’re dealing with. When I bought my first property, I was full of drive and ambition, but light on experience in ownership. I had the background as a mortgage broker, so I understood financing and numbers. What I didn’t know yet was how different owning a property is from analyzing one on paper.
Over the years, I scaled from that first deal to over 800 units across Greater Montreal. Along the way, I learned some hard lessons. If I could go back and tell my beginner self three things, here’s what they’d be:
1. Never Assume the City’s Records Are the Full Story
On my very first acquisition, I relied heavily on tax assessments and listings. The paperwork said it was a six-unit building, and the income supported it. What I missed was verifying zoning compliance directly with the city. As it turned out, only four of the six units were legally recognized. That discovery came after closing-and after the tenant leases were already signed.
That experience taught me to never trust surface-level documents. Always confirm legal use with city planning. Zoning bylaws are not just technicalities-they shape your entire investment strategy. A legal unit is an income stream. An illegal one is a liability.
2. Focus on Long-Term Fundamentals, Not Flashy Short-Term Wins
It’s tempting to chase the “next hot area” or trendy property type. But early on, I learned to look for economic stability over temporary buzz. That’s why I’ve stayed focused on core urban markets with strong infrastructure, population growth, and job diversity. In Montreal, where vacancy rates remain low and demand for quality housing stays consistent, this approach has paid off with long-term consistency.
New investors often look for “cheap deals” or areas with sudden price spikes. I did the same. But cheap isn’t always good, and appreciation is only part of the picture. Cash flow stability, tenant demand, and exit flexibility are far more important.
3. Your First Property Sets the Tone-So Treat It Like a Business
I approached my first investment with the mindset of a dealmaker. What I didn’t realize was I was also becoming a business owner. Property management, tenant relations, maintenance schedules, financing timelines-all of it matters. I quickly saw that real estate is a business with moving parts, not a passive product you can set and forget.
That realization helped me build a property management company, hire the right people, and eventually systematize everything from tenant onboarding to capital improvements. But I learned it the hard way-by doing everything myself first.
Today, I help other investors skip that early pain by sharing the systems, structures, and strategies I built through experience. Whether you’re a realtor turning commissions into equity, or a small landlord ready to scale up, the first move matters.
You don’t have to start with perfection. But you do need to start with intention.
