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

Download the audio file HERE.
Download the handout HERE.
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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.

Download the audio file HERE.
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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.

 

 

Flipping / Assigning Properties? Don’t Go To Jail!

CRA Investigating Tax on Undeclared Earnings for Flipping Offers to Purchase Real Estate in Canada

We’ve all heard the stories. In red-hot real estate markets like Toronto and Vancouver, brand-new projects, especially condo projects sell out fast. When sales open, there are lineups around the block. Desperate purchasers clutch serious deposit money in their anxious hands, hoping against hope that by the time they get to the front of the line, there will be a unit left for them to buy. Often, when sales to the public start, a 100 unit project has only 40 units left, the others are already sold. Who got to buy those units and how does that work? Continue reading

Worst Case Condo Investment

Podcast Episode 68:
Disaster at Penhorwood: Update.”

In a previous Tale, we reviewed the calamitous and stomach turning events at the Penhorwood Condominium complex in Fort McMurray, Alberta. Our review looked at events occurring in 2011, but in 2014 things really came to a head. I thought this was serious enough to reprint some our previous Tale, and then follow-up with a discussion of how the circumstances evolved. Read on and be very aware that some condominiums have ultra-serious issues.

Download the audio file HERE and the text/handout HERE.
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Should I Become a Developer?

Podcast Episode 64:
Development Is a Senior Strategy.”

Buying and holding single-family homes is a great strategy for anyone starting out in real estate investment. Many people eventually get into multifamily properties, which builds on the experience of basic buy-and-hold. Becoming a developer is a very different type of strategy and is much more difficult. The rewards can be worth it for a senior investor, but there is also a lot of risk involved, and so development should be approached cautiously—if at all.

Download the audio file HERE and the text/handout HERE.
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Buying Foreign Property

Watch Out Buying In Mexico…

A few years ago my sweetie pie Donna and I spent a lot of time in a little Mexican town called Melaque. We stayed in a beachfront Mexican hotel called the Santa Maria, at the time inexpensive and very friendly. Lots of other Canadians and Americans came down and stayed there for the whole winter. The non-operating hotel restaurant was right on the beach. All the hotel residents used it for their own cooking and for regular fantastic nights of potluck and entertainment. It was paradise!

Frequently the talk turned to, “wouldn’t it be great if we had a place down here.” Some people actually bought property going through a completely unfamiliar buying process. There was property also called ‘ejido‘ land. Continue reading

Developer = Issues

Podcast Episode 20: “Developer = Issues.”

Buying any property from a developer is different than buying a previously owned home through a realtor. Developers have custom contracts which means nothing is standard. You must do more diligence. An incompetent developer’s representatives usually means trouble. “Subject to buyer’ s lawyer’s approval” is an excellent clause for your protection.

Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.

The full-text version of this Tale from the Trenches can be found HERE.

Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.

Developer = Issues (Handout)

Text Notes for Podcast Episode 20:  “Developer = Issues.”

Buying any property from a developer is different than buying a previously owned home through a realtor. Developers have custom contracts which means nothing is standard. You must do more diligence. An incompetent developer’s representatives usually means trouble. “Subject to buyer’ s lawyer’s approval” is an excellent clause for your protection.

Download the handout (Mac control + click + “save as” / PC right click + “save as”) HERE. Continue reading