Getting Started with Build-To-Rent with Natalie Cloutier, Ep. 762
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Written by John Casmon

November 4, 2025

Natalie Cloutier is a French-Canadian real estate investor who, alongside her husband, has spent over a decade building a successful build-to-rent business in Canada. With a background in architectural technology, Natalie began her journey by constructing her first home at the age of 19 using a sweat-equity loan, transforming a family “secret” into a powerful investment model. Today, she and her husband have built 53 units from the ground up, acquired and renovated four additional properties, and automated their business to support long-term growth. Her approach centers on risk-aware development, ADU maximization, and creative strategies to unlock housing value. She is also the author of The Build to Rent Strategy and co-founder of The New Build Couple.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Key Takeaways

  • Why building your own home with sweat equity can kickstart your investing journey
  • The build-rent-refinance-repeat model Natalie uses instead of traditional BRRRR
  • How legislation like Bill 23 unlocked value via ADUs
  • The risks to watch for when analyzing land deals
  • Why burnout forced her to scale—and how hiring a team changed her business

Topics

From Architecture School to First Build

  • How Natalie and her husband started by building their own house at 19
  • The sweat-equity loan that replaced a traditional down payment
  • Living through construction while house-hacking their basement unit

Scaling with Confidence

  • Transitioning from guided help to self-led builds
  • Building nights and weekends while working 40-hour weeks
  • How an employee learned their model and replicated it himself

Why Build-to-Rent Made Sense

  • Existing properties in Ontario didn’t pencil out
  • Build-to-rent as a better alternative to BRRRR for their market
  • The shift from slow beginnings to full-time real estate

Shifting Strategies Through Market Changes

  • The effects of COVID, inflation, and interest rates
  • Navigating legislative battles with municipalities
  • Taking a break to reassess in the face of red tape

Due Diligence in Development

  • Natalie’s master checklist before buying land
  • Zoning, sewer, easements, internet access, and environmental tests
  • The consequences of skipping steps (like a $30k surprise for internet)

How ADUs Became a Game Changer

  • Leveraging Ontario’s Bill 23 to turn a duplex into a triplex
  • Avoiding six-figure development fees by using ADU classifications
  • Applying the ADU model to create sixplexes with cost savings

📢 Announcement: Learn about our Apartment Investing Mastermind here.

Round of Insights

Failure that set Natalie up for success: Burning out from doing too much herself, led to hiring a team and building better systems.

Digital or mobile resource: Buildium, for managing tenant communication and operations, even with just a few units.

Book recommendation: Secrets of the Canadian Real Estate Cycle by Don Campbell, great for understanding market timing and cycles.

Daily habit: Running or walking: movement helps her reset and stay grounded.

#1 insight for real estate investors: Do your due diligence. This is not a risk-free strategy, so run the numbers and know what you’re getting into.

Favorite restaurant in Mont-Tremblant, Quebec: Socal Kitchen.

Next Steps

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you don’t miss an episode.