Don’t Want To Negotiate With A Problem Tenant Yourself__ This Meetup Is For YOU!! .pdf

=== Don’t Want To Negotiate With A Problem Tenant Yourself?? This Meetup Is For YOU!! ===

Volition has said this time and time again… without a doubt, TENANTS are the biggest risk to your real estate investment business! (Volition has also said that real estate INVESTING is a misnomer, and that you’re NOT INVESTING at all, you’re BUYING A BUSINESS… but I’ll leave that discussion for another time!)

At Volition, we’ve created an investment business model which MITIGATES tenant risk significantly (by investing in properties in areas that cater to the best tenant profile and by learning how to screen tenants to the “Nth” degree) but it does not ELIMINATE it completely… make no mistake, there is no such thing as zero risk (remember: Zero Risk = Zero Reward). This means, occasionally, there are going to be instances where you may be in a situation where you are at odds with your tenant.

Maybe you’ve inherited a problematic tenant…

Maybe your tenant isn’t paying rent…

Maybe your tenant isn’t responding well to a possible N12 (i.e. you want to take back the property as your primary residence)…

Maybe your tenant has promised to move out but hasn’t moved out by the move out date…

Maybe you want to sell your investment property but having a current tenant in place is devaluing the property…

Maybe your tenant is causing problems for other tenants in the building…

Maybe you need a professional Tenant Landlord Mediator!

What is a Tenant Landlord Mediator, you may ask? A Tenant Landlord Mediator acts on behalf of landlords to negotiate directly with tenants, so you, as the landlord, don’t have to get involved. Dealing with delinquent tenants directly can literally suck the life force out of you, which is why most people who are in a sticky tenant situation will automatically seek the help of a paralegal. While that is not necessarily a bad option: 1) it could be overkill, 2) it could be more expensive, 3) you could incur costs without any results, or 4) it could be intimidating, putting the tenant on the defensive and cause them to also “(para)lawyer up”

Using a Tenant Landlord Mediator like Alvin Wong is a similar, but softer approach. Alvin would engage in a non-confrontational conversation with the tenant on your behalf, and, and in doing so, keeps some distance between you and the tenant, which can keep emotions in check and keep each side from irrationally digging in their heels. Having a trained negotiator on your side, Alvin works on creating a win-win situation so that the tenant doesn’t feel slighted, and thus they can work TOGETHER toward a solution rather than fighting AGAINST each other.

Having someone like Alvin is yet another tool in your toolbelt… which would free up your headspace so you can focus on what matters most (i.e. the $10,000 jobs): BEING A REAL ESTATE INVESTOR!

1. @volitionproperties
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Don’t Want To Negotiate With A
Problem Tenant Yourself??
This Meetup Is For YOU!!
Aug 20, 2024

2. @volitionproperties
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●Support local! Order food and drinks and PAY YOUR BILL! ????????????
●Washrooms: Same floor
●Cell phones: Put on silent mode and step out if you need to take a call
●Recordings: This presentation is being recorded and slides will be available.
●Make sure you’re on our e-mail list to get the recording!

E-mail [email protected] or use the QR code



Housekeeping Items

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Ming’s Market Minute

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Sales Volume

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Average Resale Home Price

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New Listings

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Sales to New Listings Ratio

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Sales to New Listings Ratio vs Avg Home Price

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What Happening Right Now?
Sales - SFH
●Information only active agents are able to get you
●Able to see how many offers are being placed on properties
Sales - Condo
●Much worse than the data shows
Rentals
●Impact of the condo rentals

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Volition Market Data

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Volition Metrics - Downtown municipalities

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Volition Metrics - Downtown SF Detached

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Volition Metrics - Condos

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Volition Metrics - Toronto - Everywhere else

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Volition Metrics - Uptown SF Detached

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Networking break!
See you in 15 mins!

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Don’t Want To Negotiate With A
Problem Tenant Yourself??
This Meetup Is For YOU!!

(feat. Alvin Wong)

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Please welcome: Alvin Wong!
Alvin Wong is a Canadian real estate investor who currently works as a Registered Nurse and health
technology consultant while pursuing his passion as a real estate investor, property manager, and Tenant
Landlord Mediator. With just over three years of experience in real estate, Alvin has successfully managed
six multifamily properties and 15 units. He specializes in the BRRRR strategy, joint ventures, multifamily
properties, wholesale, short-term rentals, medium-term rentals, and long-term rentals, showcasing his
versatility, creative financing, and expertise in the field.

In just three months as a Tenant Landlord Mediator, Alvin's unique approach to conflict resolution has
helped landlords negotiate with their tenants for unit vacancies. He has assisted 15 landlords and
successfully negotiated vacancies for 20 units.

Despite not holding an MBA or a degree in economics or finance, but only a Bachelor of Science in Nursing,
Alvin inspires others to believe they too can become successful real estate investors. He surrounds himself
with inspiring individuals, educates himself financially, and prioritizes self-care to better serve his family,
friends, and community.

Looking ahead, Alvin aims to expand his real estate portfolio by purchasing commercial buildings across
Canada and investing internationally. His ambitious goals also include taking his family and friends on a
luxurious yacht buffet and completing a marathon, reflecting his drive for both personal and professional
growth.

Alvin Wong

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Introduction
From the bedside registered nurse into a real estate investor

Property Manager and Tenant Landlord Mediator

6 multifamily properties and 15 units

Wholesale, Short Term Rental, Medium Term Rental, Long Term Rental,
BRRRR, Joint Venture, VTB and Multifamily Properties

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My First Investment: The Cursed Duplex in
Windsor

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Topics

1.Latest Stats and Articles
2.Conflict Resolution
3.Case Study
4.Closing Remarks

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Ontario Landlord Tenant Board - The Broken
System That Failed Us All

●Extremely difficult for good tenants to find rental

●On average it takes 6-12 months to have a tenant evicted.

●On average it takes 1-2 months extra for Ontario Sheriff to respond

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lower
Average Day to go from
hearing to issuing orderHow many orders issued in 2024
robert patchett 116 29
camille tancioco 108 11
troy rossignol 92 6
kevin o'brien 77 3
rema el-tawil 77 3
laura hartslief 69 8
charles dowdall 67 12
margo den haan 65 8
sonia anwar-ali 59 9
mark melchers 58 14
vladimir nikitin 51 8
nicole huneault 50 11
elan shemtov 50 14

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greg witt 49 9
christopher lin 48 26
claude mbuyi 47 4
donna adams 46 5
nicole pedron 45 5
mayra sawicki 45 19
colin elsby 43 24
susan priest 42 15
james campbell 41 17
dawn carr 40 24
julia toso 39 5
emily robb 39 19
bryan delorenzi 36 17
vinuri sivalingam 36 14
fotoula hatzantonis 35 9
lower Average Day How many orders issued in 2024

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●73,208 LTB Application from (2022-2023)
●51.5% (37,690) eviction due to non-payment of rent
●21.0% (15,354) eviction for other reasons (including
especially property damage)
●4.6% (3,366) tenant didn’t honour their court-determined
settlement
●22.9% other tenancy legislation breach from both tenants
and landlords

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Cost of Having a
Delinquent Tenant
●Average Cost For Eviction is $11,000

●Ontario Average Paralegal Fee is $2000

●Court Fee is between $50-100

●Hiring a Sheriff in Ontario Average - $400

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Conflict Resolution
The Art of Empathy

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Negotiation Skills
●The 3 options

●Most People

●The Art of Empathy

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Nursing Research: Dr. Teresa Wiseman
●Dedicated her nursing research to focus on helping healthcare
providers and every day professionals to become empathetic

●Redeveloping What Empathy vs Sympathy

●Empathy is a skill and an art

●Sympathy is what most people choose and drives disconnection

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Taking on Someone’s Perspective
Seeking their perspective

Understanding their perspective

Seeing the truth in their perspective

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Non-Judgement
●We disconnect their experience

●Putting Away Your Own Thoughts

●Putting Away Your Own Assumptions

●Putting Away Your Biases

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Recognizing someone else’s emotion or
understanding their feelings.
●Requires you to be in touch with your own feelings

●Put yourself aside so that you can focus on the person in
distress.

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Communicating your understanding of a
person’s feelings
●Validating someone’s feeling conveys you accept them

●Validating someone’s feeling conveys you understand

●Validating someone’s feeling converys you acknowledge

●If you never encounter it’s better to say you don’t know and thank them
for sharing

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Live Case Study

-56 year old male George
-Employed and lives in a 3 bedroom unit
-Common law Betty
-George pays rent on time $800/ month in Milton
-3 cats that he loves dearly
-George is a hoarder and also non-compliant with pest control
-Landlord hires a paralegal to serve him N5 and court hearing schedule
-George cuts all communications with Landlord and Paralegal
-You present yourself as a mediator and George Waives a Butter Knife at
You
-https://www.instagram.com/reel/C7Ep5UiOL3P/?utm_source=ig_web_c
opy_link&igsh=MzRlODBiNWFlZA==

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End