Where Should I Invest? Real Estate Investing in Canada

Building Multi-Family From The Ground Up to Rental Success

Jan 16, 2026

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In this episode of Where Should I Invest, Sarah Larbi sits down with Natalie Cloutier, a real estate developer, author, and builder who has carved out a unique niche in the Canadian investing landscape: Build to Rent.

Starting with $0 at just 19 years old, Natalie and her husband built their first home using an auto-construction loan and that single decision launched a long-term strategy now responsible for multiple duplexes, fourplexes, and sixplexes.

Natalie breaks down the real numbers, the risks, the rewards, and the mindset behind creating cash-flowing rentals from the ground up. She also shares the truth about Bill 23, the municipal pushback that followed, and the often-overlooked challenges developers face behind the scenes.

If you’ve ever wondered how to build new multifamily housing or whether Build-to-Rent can actually work in today’s market, this episode delivers the clarity you’ve been missing.

What You’ll Learn

How Natalie’s “Build to Rent” strategy works from land acquisition to refinance
The financing structure needed to build rentals with minimal money left in the deal
How Bill 23 created unexpected chaos for builders
Why municipalities can make or break your development timeline
The biggest mistakes investors make when expanding into construction
How Natalie handles permitting, design, and working with new city staff
Why choosing the right JV partner matters more than the deal
How she used rebates, credit hacks, and marketplace finds to finish units affordably
What inspired her new book The Build to Rent Strategy
Why cash flow matters more than unit count
When to step back from development (and why mental fatigue is real)
How to start with nothing and still build long-term wealth

Natalie Cloutier is a real estate investor and developer specializing in the Build-to-Rent model, constructing duplexes, fourplexes, and sixplexes across Ontario. With a background in architectural technology, Natalie handles permitting, design, and construction management, while her JV partners handle financing and tenant placement. She is the author of The Build to Rent Strategy, a transparent, numbers-focused guide for aspiring builders and investors.

Listen now at https://sarahlarbi.com/podcast-home/

Contact Natalie Cloutier here:
Website: https://www.thenewbuildcouple.com
Instagram: https://www.instagram.com/thenewbuildcouple
Facebook: https://www.facebook.com/thenewbuildcouple
Book: The Build to Rent Strategy (available via her website)

This episode has been brought to you in part by:
Ryan Carson, Carson Law – https://www.carsonlaw.ca/ or email ryan@carsonlaw.ca
James Lloyd, US Properties https://www.usproperties.ca/ or email james@usproperties.ca
Matt Pickering, National Bank matthew.pickering@nbc.ca
Mid-Term Rentals – https://midtermrentalproperties.com/
Inspire Beach Resort – https://inspirebeachresort.com/

Do you need help or ideas for your own real estate investing business? Reach out and let us support your journey www.sarahlarbi.com or email sarah@sarahlarbi.com

The post Building Multi-Family From The Ground Up to Rental Success first appeared on Sarah Larbi Developments.