Two of our clients at RMLO Law LLP decided to do a Joint Venture on an apartment building in Edmonton. The ‘real estate expert’ client had a lot of experience and already owned a number of apartment buildings in Alberta—all running very successfully. The ‘money partner’ client was relatively new to the real estate business. Projections were made, some data exchanged, and the Joint Venture went ahead.
Unfortunately, this particular apartment building did not work out nearly as well as the other apartment buildings already owned by our ‘real estate expert.’ Once things were not going according to expectations, both clients were unhappy with each other. Continue reading →
I’ve been doing Tales from the Trenches for 15 years. These are amazing stories from real estate investors, mostly from Alberta, Canada because that’s where I practice law.Tales began as a segment during meetings of the Real Estate Investment Network (REIN), which I continue to do. And then about 4 years ago, it became a podcast, too.
Lots of those stories are about mistakes made and lessons learned. Feedback tells me you find Tales not only interesting, but also very useful in organizing your own real estate rules and how you invest. I love doing Tales and you love hearing them.
We post Tales on my blog website, where we are at 99 podcasts and counting. The 100th podcast is a big deal, at least in my mind. But, what should I talk about? Fond reminiscing about doing 99 podcasts, how I love the feedback, how many folks we have helped, why that feels good… what to do?
Today the lightning bolt struck. I know what I’m going to say!
Of course, it’s a story. But, instead of a typical Tale about mistakes made and how to avoid those mistakes, this Tale is all about success. It’s all about an approach to real estate investing that has a high percentage chance of creating success. You can up your chances of trouble-free real estate investing by listening to this great story, a very positive Tale from the Trenches.
Download the audio file HERE. Download the handout HERE. (control click or right click + save as)
Podcast Episode 84: “Why the Ultra-Rich Like Real Estate.”
Investing has its ups and downs. Real estate has some definite advantages in smoothing out the bumps. Ultra-rich people usually have some properties in their investment portfolios in order balance out the volatilities of stocks. Even if you’re not wealthy (yet!), the same advantages sought by the ultra-rich also apply to any investor.
Download the audio file HERE and the text/handout HERE. (control click or right click + save as)
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 →