🎧 Adding Garage Suites to a Fourplex — Will It Qualify for Commercial or MLI Select Financing?

Real Estate Investing Morning Show – Hosted by Wayne & Gabby Hillier

Today's episode dives deep into one of the most common — and misunderstood — value-add strategies in the Canadian investing world: adding garage suites to an existing multifamily property.

A listener asks whether turning a legal fourplex into a six-unit property (by adding a four-car garage with two suites above) could qualify for commercial financing or CMHC MLI Select.

Wayne breaks down: zoning issues, utility hurdles, the new 2025 MLI Select clarifications, whether "similar characteristics" can kill your application, and why so many investors are running the numbers completely wrong.

Plus — special guest Samuel Huberdeau joins the show to share details on this Saturday's Edmonton Real Estate Investor Meetup.

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🧠 What You'll Learn in This Episode

• Whether adding garage suites can reclassify a fourplex into commercial financing

• The 2025 CMHC MLI Select clarifications and why "similar characteristics" matter

• Why financing products are not investment strategies

• Zoning, setbacks, utility routing, and development permit considerations

• Why most garage suites do NOT cash flow — and how to actually run the numbers

• How to avoid 7-figure mistakes when adding units to your property

• How to qualify for MLI Select affordability points the realistic way

• Why fall & winter are the best seasons to "hibernate and educate"

• Full details on this weekend's Edmonton Investor Meetup with Samuel Huberdeau

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👥 About Your Hosts

Wayne & Gabby Hillier are full-time real estate investors and coaches based in Edmonton, Alberta, Canada. Through their REI Masters Mentorship Program, they help Canadians build long-term wealth using rental properties, BRRRRs, flips, joint ventures, and creative real estate strategies.

New episodes every weekday morning featuring real stories, coaching moments, and tactical investing advice.

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📚 Get the 5% Rule™ Book

Get the 5% Rule™ book on Amazon:
The 5% Rule™ – A Real Estate Cash Flow Test for Canadian Investors
Order Now → https://a.co/d/3Xrcnhw

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📅 Upcoming Events

📍 Edmonton Real Estate Investor Meetup

Hosted by: Samuel Huberdeau & Patrick Mooney
Date: This Saturday
Time: 1:00 pm–4:00 pm
Location: 12322 102 St NW, Edmonton, AB
Facebook Event: https://www.facebook.com/share/1Fg4H3E7f3/
Details: Walk a real BRRRR project, ask questions, network with active investors.

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🧾 Free Webinar: Accounting for Real Estate Agents

Hosted by Steve Tsonev & Wayne Hillier — Finngo Bookkeeping & Tax
Date: Monday, November 10, 2025
Time: 11:00 am MST
Where: Streaming FREE on Facebook
Learn:

• What realtors can legally deduct

• Common write-offs agents miss

• Business vs personal expenses

• Biggest bookkeeping mistakes costing agents thousands

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💡 Resources & Contact

Learn about our Mentorship Program: www.reimasters.ca
Bookkeeping & tax help: www.finngo.com/rei
Submit a question: info@reimorningshow.com

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🤝 Thanks to Our Sponsors

🏠 Krystal Kromm – Red Deer Investor-Focused Realtor
📞 (587) 377-8584
🔗 Facebook

🏢 Calvin Realty – Edmonton Investor-Focused Realtor Team
🌐 calvinrealty.ca
🔗 Facebook

📊 Finngo Bookkeeping & Tax – Investor-Focused Accounting Firm
🌐 www.finngo.com/rei
🔗 Facebook

💼 Kirkwood & Brennan Mortgage Group – Investor-Focused Brokers
🌐 kbmortgages.ca
📧 keaton@kbmortgages.ca
🔗 Facebook

🏗️ Calvert Home Mortgage Investment Corporation
📞 403-278-0249
📧 info@chmic.ca
🆔 FSRAO License Numbers: 13267 & 13268