Flipping Properties is Risky. Here’s Why!

Podcast Episode 113:

“So, You Want To Be A ‘Flipper.’”

There is a whole section of the real estate investment world known as ‘flipping.’ Basically, flipping is when an investor gets control of a property by signing a purchase contract, but rapidly sells it to someone else for a profit. Don R. Campbell of Real Estate Investment Network (REIN) fame has long cautioned against the most common form of flipping, which is to invest in condominium pre-sales. This is a Tale about a client of mine who got caught trying to flip a bunch of properties

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If Disaster Strikes, Will Your Property Insurance Coverage be Enough?

Hands protecting house representing property insurance

Podcast Episode 112:

“Insurance Realities.”

This is a Tale of woe about property insurance, including some ideas about how to make sure you have enough coverage. After heavy rains in Edmonton, a bunch of my clients had flooded basements. Not surprisingly, many of them couldn’t make insurance claims to cover the damage. Why, you ask? Because insurance policies are intricate legal contracts, and insurance companies won’t pay unless your problem is covered exactly by the terms and conditions…

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Don’t Lose Time and Money from Outdated Real Estate Documents!

wooden house stacks of coins in background

Podcast Episode 111:

“Keep Your Joint Venture Up-to-Date.”

In real estate, as in all facets of life, things change. A detailed contract or written agreement can protect your investments, but you’re still vulnerable if you don’t follow the terms exactly. A client of mine organized a joint venture with 15 investors to buy an apartment building in Alberta. They used a written Joint Venture to structure the deal, but later changed some aspects with only verbal agreement. This Tale is about what happened when one of the investors passed away and lawyers for the deceased’s estate began insisting on the original terms of the Joint Venture.

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Real Estate Investment Leaders

We are who we associate with,
and success breeds success.

Ahead of our upcoming Rapid Cash Focus Workshop in Red Deer, Alberta, on April 7th and 8th, we’re giving you a chance to get to know some our amazing Focus Team Leaders. The hour-long audio recording below is from a breakout session at a previous workshop. It features the background stories of regular folks who are doing amazing things with Creative Real Estate Investment, as well as Q&A with them. These are some of the people who will be helping attendees achieve success.

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Rapid Cash Focus Workshop

    April 7th and 8th, 2018
Full-day event: 9:00 am to 5:00 pm*
*continental breakfast at 8:00 am
Red Deer, Alberta, Canada
venue TBD

For pricing and to register, go to:
http://s.reincanada.com/www/store/detail/Rapid-Cash-Flow-Program-AB

 

“Success, Profit, Successful, Aspiring, Sale, Sell” image from Max Pixel used under CC0 Public Domain.

 

 

What to Do When Seller Doesn’t Have Leases for Tenants

Podcast Episode 110:

“Get the Details.”

A client of mine found a four-plex in Alberta with a motivated seller, but soon discovered that he would have to deal with problems caused by the seller’s inexperience. The location was good, with a tenant profile that fit the type of people that my client liked to rent to. And, the price was very good. Listen to the podcast or read on to learn about documents you can use to protect your interests when buying from sellers like this who haven’t been very good landlords.

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New Year in Real Estate: Looking Back, Looking Forward

top 60 property law blog medal

A (GREAT!) Year in Review and Some New Plans.

Well, 2017 is done and dusted. We can’t look back without being pleased, but it wouldn’t be a year in review without some thoughts about what’s happening in 2018 with our corner of the real estate world.

My website, Investorlawyer.ca/BarryMcGuire.ca, continues to grow, both in content and traffic. Continue reading

Season’s Greetings

Barry and Donna McGuire with Santa Claus.

Joy and Peace to All for the Holidays!

Who knew Santa was Italian?! He showed up at our favourite store, Italian Centre Shop, and insisted we have a picture with him.

Donna and I are delighted to have this opportunity to wish everyone the very best of the holiday season. We’re taking a little break till after New Years, but then we’ll be back to posting about Canadian real estate, property law, and creative investment strategies. Thanks for your support and stay tuned for more!

Protect Yourself with Power of Attorney

Power of Attorney, Powerful Tool For Real Estate Investors

The Power of Attorney is a wonderful document, and especially useful in creative real estate transactions.  The owner of the piece of property (the grantor) appoints you (the grantee) his attorney (the person who can do things regarding the property).  The Power of Attorney can be revocable or irrevocable, general or specific for a fixed period of time, or without that limitation. In other words, the Power of Attorney is a very flexible document.
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Title Insurance vs. Real Property Report

Should You Accept Title Insurance Instead of a Real Property Report?

Following up on their previous two videos (1 and 2), Barry and Keith compare title insurance and real property reports in Alberta real estate. Which should you choose? For the buyer, it often depends on what you wants to do with the property after purchase. Watch the video to get Barry’s explanation!

 

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