Ask the Chief anything!

[Brian Ashley Austin]

I wanted to reach out to all those still on the fence, those stuck in analysis paralysis and those who have done a few deals and had a question. So,  have any questions, concerns, moans, groans or complaints? Go ahead, ask the Chief!

[Wale Ajayi]

Hi Brian, your post couldn't have come at a better time than now.

I recently joined BP after getting education that I believe is enough to get started in RE, and have been looking at properties mainly in my city (Edmonton or nearby cities e.g. Calgary) - fyi, I am in Canada, and you probably don't follow the RE market here. Anyways, I am looking at a 12 unit listing that has been on the market for close to months, and using list price to calculate cashflow on the property (using the BP calculator), it doesn't look good, though my assumption on vacancy rate and management may be high at 10% whereas the agent said vacancy is 3% in the area compared to the City average of 8%. I have had the realtor follow up frequently and I sense the buyer is motivated, so I may be able to get a better deal. I know I can be successful in the RE game, but trying to be cautious before making a mistake that will leave a deep scare. One of my questions is, as I haven't built a team yet, is it advisable to use team members of other investors in the city? Also, if possible, I can connect with you on a call to analyze the deal.