Transferring Property Without a Lawyer

Podcast Episode 89:
Transfer of Land.”

A Transfer of Land is a document that allows the Land Titles office to register a property in the name of a new owner. In rare circumstances, you might be able to get this done without seeing a lawyer. In this Tale, our investor got a Transfer of Land from a highly motivated seller. Luckily, he also knew what other critical things he needed to do and who he needed to talk to in order to make the transaction go smoothly. This strategy doesn’t come up too often, but when it does, you need to know what to do so you can act quickly.

Download the audio file HERE.
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Looking for a lawyer to help with buying or selling property in Alberta? Contact Barry now!

“Keys” image by Merio used under CC0 1.0 Public Domain.

When to Walk Away from a Real Estate Deal

mortgage default foreclosure

Podcast Episode 82:
Diligence Time Bombs And Letters Of Intent.”

When trying out a new real estate investment strategy, it’s important to know when to walk away. In this Tale, an attendee of one of my creative investing workshops was ready to try an Agreement for Sale, and contacted me for help with a Letter of Intent. The deal turned into a Joint Venture, but there were too many red flags. Our investor walked away, and we can all benefit from the lessons learned!

Download the audio file HERE and the text/handout HERE.
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Success in Creative Real Estate

Getting Experience with a New Investment Strategy.

I had a great chat with a graduate of my Deal-Ready Documents Focus Workshop. He had a closing scheduled, and so we met up to sign the paperwork.

He was pretty excited because this purchase was his first using the Agreement for Sale creative real estate investment strategy. As we worked our way through the documents my client said, “I’m sure glad to get this one done, my other three are going fine.” I shook my head a little bit and said, “didn’t you just tell me this was your first Agreement for Sale deal?”

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Buying Property Without a Bank

Podcast Episode 81:
Agreements for Sale 2.”

I introduced Agreements for Sale (AFS) in a previous blog post and podcast, and now it’s time to review with a bunch more examples. In essence, AFS is a type of seller financing and is sometimes called a bond for title or contract for deed. The seller retains the title, but the buyer takes control of the property—all without needing a bank. Nowadays, this technique is uncommon, but it used to be more popular during and immediately after the Great Depression. Take advantage of this little-known strategy to find great Creative Investing opportunities!

Download the audio file HERE and the text/handout HERE.
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What is Rent-to-Own?

Podcast Episode 80:
Rent-to-Own.”

Rent-to-Own (abbreviated as RTO and often interchangeably called a Lease-Option) is a two-part strategy. You start with a lease (the ‘Rent’ part) and add an option to purchase (the ‘Own’ part). In a Rent-to-Own scenario, the renter is, for some reason, unable to finance at the moment. Examples of financing problems are: bad credit, not enough down payment, self-employed, new job, or new immigrant. Yet, all these tenants want to make the transition toward home ownership immediately, usually for personal or emotional reasons.

Download the audio file HERE and the text/handout HERE.
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Creative Investing

Buying Real Estate

Podcast Episode 79:
Creative Real Estate Strategies.”

What is Creative Real Estate Investing? It is a method for making money with real estate that uses strategies like Rent-to-Own, Agreements for Sale, and Wholesaling, among others. This is an area not too many people know about, but it offers some tremendous opportunities. One of the things that differentiates Creative Real Estate Investment from the traditional Buy & Hold approach is that it works on a much shorter timeline.

Download the audio file HERE and the text/handout HERE.
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Assignments: Clever Investment Strategy or Malicious Shadow Flipping?

Happy Canada Day!

Podcast Episode 78:
“Contract Assignments.”

The practice of selling one’s interest in a real estate purchase contract—a.k.a. an assignment—has been getting a lot of bad press in BC lately. In fact, the situation there may be changing thanks to government intervention. Contract assignments are a widely used and entirely legal procedure, but the laws governing them vary by location. We’re discussing BC, and then focusing on Alberta here. As always, the principles I explain are widely applicable—as long as you consult your local regulations.

Download the audio file HERE and the text/handout HERE.
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What to Do About Foreclosure

mortgage default foreclosure

Podcast Episode 75:
Help, I Can’t Make My Mortgage Payments!”

To mark the 75th episode of Tales from the Trenches, we have a Special Extended Edition all about foreclosures. This Tale is so packed full of helpful information that it had to be nearly half an hour long! The recent economic downturn in Alberta triggered by a collapse in oil prices means that many people are faced with a dilemma: what do you do if you can’t make your mortgage payments? It’s best to be proactive and not wait for the bank to come calling, and this Tale will help you figure out some options. We’ve also got some creative solutions for real estate investors that can help them keep their businesses above water in tough times.

Download the audio file HERE and the text/handout HERE.
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Rent-to-Own aka Lease-Options

Podcast Episode 67:
“Coaching Successful Lease-Options.”

When a qualified tenant wants to be a homeowner, but can’t get a mortgage, investors can offer him or her a lease-option. This creative investment strategy is also known as rent-to-own. The trick is doing enough diligence on the tenant to make sure that they will be able to qualify for a mortgage at some point in the (relatively) near future. It also helps to get insurance in case something goes wrong. The tenant pays a non-refundable sum of money for their lease-option, and the whole deal can provide an excellent return-on-investment (ROI) for real estate investors.

Download the audio file HERE and the text/handout HERE.
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Agreements For Sale

Podcast Episode 66:
Creative Cash Takes Time And Effort.”

The foundation of real estate investing is to buy and hold property. Sometimes, however, opportunities come along that require a different strategy. A highly motivated seller with a low/no equity property could be approached with an Agreement for Sale. This is both a creative real estate investment strategy as well as a type of legal document. In this Tale from the Trenches, our investor was able to put down very little money, but still got control of the property through seller financing. Despite the difficulties of Agreements for Sale, they can be very lucrative if handled correctly

Download the audio file HERE and the text/handout HERE.
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