How a Cleaning Lady Helped Me Buy a 15-Unit Apartment Building

Josh Perez • June 25, 2025

One of my favorite stories from our early real estate journey starts in the most unexpected way—with a cleaning lady.

We were just getting into commercial properties, and one of our first acquisitions was a mixed-use building in Hamilton. Several of the offices in the building had hired a cleaning lady, and I’d often see her coming in and out. She was friendly, always up for a chat, and over time we built a bit of a rapport.



One day, in passing conversation, she casually mentioned something that stopped me in my tracks.

She said, “Hey, do you know so-and-so owns that building on the corner? I think they might be open to selling.”

That corner building was one of those beautiful, heritage-style properties—the kind you assume would never hit the market. My ears perked up immediately. I asked her to stop whatever she was doing and connect me with them right away.


She did. And shortly after, we were on the phone with the property owners. Before the building ever went public, we were deep in negotiations.


Now, to be honest, we weren’t exactly ready for a deal of that size. It was a 15-unit residential property, and at the time, we didn’t have all the capital lined up. But here’s where relationships made the difference. The owners were neighbors, they trusted the referral from our cleaning lady, and they were open to working with us. We structured a VTB (vendor take-back mortgage), which gave us the flexibility to close the deal and step into an entirely new tier of real estate investing.

That deal changed our trajectory—but more importantly, it changed how I think about opportunity.


The biggest lesson I took from that experience? Relationships matter—more than we sometimes realize. The people around you—whether they’re part of your core team, a vendor, or even someone who helps keep your spaces clean—can open doors you didn’t even know existed.


Real estate is a people business. And sometimes, your next opportunity starts with a conversation in the hallway.

"Now more than ever, I realize the people and the relationships in your network are equally, if not more important, to building a team and resources and connections to get you access to different opportunities."

Josh Perez
GET STARTED

Deposit vs. Down Payment: Key Differences for Homebuyers

By Josh Perez • February 18, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.
Cozy armchair next to a small wooden table with a mug and an open book. Sunlight streams through a window.

Is a 5% Down Payment a Mistake? Here’s the Unpopular Truth.

By Josh Perez • February 15, 2026
Discover why a 5% down payment isn’t always irresponsible. Learn when a low down payment is a smart financial move for Ontario homebuyers and when it’s a risk.