Tips to Find and Manage Real Estate Deals with Van Sturgeon
Van Sturgeon is an experienced entrepreneur who has successfully created several businesses in the real estate industry that cover areas of land acquisition, development, construction, and renovation. Van personally owns over 1,000 properties across North America, and is semi-retired from the day-to-day operations of his businesses.
Let’s dive in to hear Van drop some wisdom with his 35 years of experience in the real real estate industry. LISTEN HERE:
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[00:01 – 04:22] Opening Segment
Van talks about his background.
A brief introduction to thirty years of experience.
What it took for him to stay afloat.
[04:22 – 14:29] Thirty Years of Experience
Van explains why it’s getting more difficult to find deals.
Here's why cap rates are compressed.
How to approach real estate markets in today’s climate
Why you should look outside of the growing markets when investing.
The benefits of digging down into the submarket level.
Van talks about the Toronto market and its advantages.
[14:29 – 25:02] Being Vertically Integrated
What you need to be vertically integrated
The benefits of being having all of your teams in house - including property management and construction
The downfalls of being vertically integrated
Why you should be careful with your budget.
The importance of talking to your competitors.
Steps you should take to make sure that you are on time and on budget.
The importance of statement of works in renovations.
[25:02 – 30:52] Bullseye Round
Almost having a nervous breakdown
Most Recommended Book:
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I Wish I Knew When I Was Starting:
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Reach out to Van at his website.
“You really need to do an overall assessment of the property and create a needs and wants list.” - Van Sturgeon
“If I can make an investment buying an ugly duckling where I can sprinkle a couple of dollars in rehabbing and renovating the place and then seeing some uplift on the rent side then I don’t care about population growth’” - Van Sturgeon
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