Multiple rental-property companies founded by Todd Slater, a former talk-radio host and real estate investor, have filed for insolvency, according to documents viewed by The Globe and Mail.
Over the past decade, the Simple Investor Real Estate Group, or SIREG, has purchased existing multifamily rental buildings across Ontario and converted them into condominiums. The company also provided property-management services, including collecting and remitting rent payments to owners.
Mr. Slater marketed these purchases online and in seminars as a simple way to become a real estate investor, and in many cases, buyers simply purchased a converted condo unit and collected rent. However, others were also sold a riskier option to contribute capital…