Dec 16 2025 – The ‘get rich for sure’ formula

December 16th, 2025 – Sale of 3609 Chaben Place, Saskatoon

I am very pleased to announce the sale of Chaben Place, our 24 suite asset in Saskatoon for $3,799,000 realizing a significant investor profit. We would like to thank our investors and team for pulling together to realize this sale, likely close to a record high for Saskatoon!

Purchase Price:  March 2016 – $2,710,000

Sale Price: December 2025 – $3,799,000

Value Increase: $1,089,000 (40% increase)

‘Its not get rich quick – it’s get rich for sure’.  These were the words that I heard about multifamily investing 22 years ago when I invested in my first multifamily deal.  I also heard that it typically takes 10 years before you start to make serious money in multifamily investing. The old cliche that the best time to invest was 10 years ago, and the second best time is now certainly has some truth to it.

We have just sold our last Saskatoon asset, a beautifully upgraded 24 suite apartment building that we transformed from a struggling ugly duckling of a property to a cash generating machine, resulting in a very high purchase price in a tight market.

I have learned that the long game is critical in real estate, and especially for multifamily investing, and there are many reasons for it, here are just a few:

• Very high acquisition and transaction costs, often putting you -10% on day 1.
• Rental volatility, especially in the prairie markets with large swings up/down.
• Capital expenses can add up quickly if the building needs work.
• It takes time to pay down the mortgage, an important piece of the profit.

I have been a multifamily expert for over 20 years, and this building is a classic example of playing the long game to win no matter what.  Many investors have failed by going short, BRRRR, or massive leverage only to sell at a loss. This project in particular tested me as an investor and makes an excellent case study of how, if done correctly, it is virtually impossible to fail when it comes to multifamily investing.

The rental market in Saskatoon in early 2016 was trending down from the 2014 peak due to oil and commodity prices collapsing, combined with a flood of new apartment blocks. In 2017 the rental vacancy rate in Saskatoon spiked to 20%, and rents dropped from $1200, to $900, to as low as $750 per month for the next 2 years.

Combined with massive turnover (all 24 units), we were forced to renovate to even have a chance to rent the units at the massively discounted rate, often offering 2 months of free rent as an incentive.  We blew through our entire reserve fund, and had to front over $200,000 of our own money just to keep the building afloat. The decision to upgrade would prove wise.

When the pandemic hit in 2020 things got even worse with non payment of rent and a ‘freeze’ in rent increases. By 2021 we had changed managers and filled the building just in time for a refinance at 1.85%. If we had to sell in 2021, it would have come at a steep loss for our investors and ourselves. We chose to hang on and continue to improve the asset.

The decision to spend money on upgrades that we were not immediately getting back in rent increases was a very difficult one to swallow, but we made the right choice. By late 2022 the market was recovering and we invested heavily in landscaping and curb appeal to sharpen the appearance and drive rents higher. From 2023 to late 2024 we were able to substantially increase our rents, and the building value, to new highs.

Saskatoon came on the radar of eastern Canada investors, who began buying up blocks at heavily inflated prices. Chaben place had the highest income out of any similar 24 suite blocks that were for sale, a key factor in realizing the very high sales price.

The lessons from this building were many, from asking for help from my colleagues during difficult times, to having patience and perseverance to grind through tough times. 

For me I will continue to buy and invest in projects like this for as long as I am alive as I passionately believe in this model that if purchased right, with sufficient cash reserves and time anyone can get rich over any 10 year period. 

Boring is beautiful, predictable, and repeatable with this simple formula that is all but guaranteed to succeed. 

P.S. if you are looking for returns like these and want to invest in my next deal, please send me an email or set up a discovery call and I would love to hear from you!

Happy Investing!

Cory Sperle